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Thread: 20 U.S. companies that paid 0% in taxes

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    20 U.S. companies that paid 0% in taxes

    http://finance.yahoo.com/news/the-in...145353359.html

    "Merck, the second largest pharmaceutical company in the U.S., actually had a negative effective tax rate of 7.5% during the second quarter, which means it got a tax credit. Eight of the 20 companies were in real estate or real estate-related businesses."

    Looks like the "job creator's" are overtaxed.
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by 99percenter View Post
    http://finance.yahoo.com/news/the-in...145353359.html

    "Merck, the second largest pharmaceutical company in the U.S., actually had a negative effective tax rate of 7.5% during the second quarter, which means it got a tax credit. Eight of the 20 companies were in real estate or real estate-related businesses."

    Looks like the "job creator's" are overtaxed.

    There's no question that the U.S. corporate tax system is broken, as many CEOs would argue. The problem, however, is not only that corporate tax rates are too high -- at 35% they are the highest in the world.

    http://finance.yahoo.com/news/the-in...145353359.html
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by 99percenter View Post
    http://finance.yahoo.com/news/the-in...145353359.html

    "Merck, the second largest pharmaceutical company in the U.S., actually had a negative effective tax rate of 7.5% during the second quarter, which means it got a tax credit. Eight of the 20 companies were in real estate or real estate-related businesses."

    Looks like the "job creator's" are overtaxed.
    While the corporate elite are getting away with a 0% tax rate, small businesses are being taxed and regulated out of the market. This system is intentionally designed to make the rich richer.

    Check this out: Some small businesses are paying nearly double in taxes what your average corporate giant pays(the ones that don't get away with paying 0%, that is).

    Some Small Businesses Pay Tax Rates More Than Double Those Of Large Corporations: Study

    Insane.

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Born Free View Post
    There's no question that the U.S. corporate tax system is broken, as many CEOs would argue.
    Oh I'm sure they would. Most still, somehow, feel like the tax system isn't already slanted far enough in their favor.

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Born Free View Post
    There's no question that the U.S. corporate tax system is broken, as many CEOs would argue. The problem, however, is not only that corporate tax rates are too high -- at 35% they are the highest in the world.

    http://finance.yahoo.com/news/the-in...145353359.html
    The effective corporate tax rate isn't the highest in the world.
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Deuce View Post
    The effective corporate tax rate isn't the highest in the world.
    Take your argument up the OP I quoted from the site he posted
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by TeleKat View Post
    Oh I'm sure they would. Most still, somehow, feel like the tax system isn't already slanted far enough in their favor.
    You'll have to argue that with the OP, I just quoted from the site he posted, and I posted the exact same reference
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Born Free View Post
    There's no question that the U.S. corporate tax system is broken, as many CEOs would argue. The problem, however, is not only that corporate tax rates are too high -- at 35% they are the highest in the world.

    http://finance.yahoo.com/news/the-in...145353359.html
    Still not aware of the difference between statutory and effective eh? Very few corporations actually pay the statutory rate. With the literal mountain of paper of deductions and deferrals, they pay far less than 35%. Helps to actually know about taxes before talking about them.
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Deuce View Post
    The effective corporate tax rate isn't the highest in the world.
    Partisan hackjobs don't know the difference between effective and statutory.

    WASHINGTON—U.S. companies are booking higher profits than ever. But the number crunchers in Washington are puzzling over a phenomenon that has just come into view: Corporate tax receipts as a share of profits are at their lowest level in at least 40 years.

    Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That's the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008.
    Tax Break Pushes Corporate Taxes to Just 12.1% of Profits, Lowest Level in 40 Years - WSJ

    GAO: U.S. corporations pay average effective tax rate of 12.6% - Jul. 1, 2013
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Born Free View Post
    There's no question that the U.S. corporate tax system is broken, as many CEOs would argue. The problem, however, is not only that corporate tax rates are too high -- at 35% they are the highest in the world.

    http://finance.yahoo.com/news/the-in...145353359.html
    All very nice. While I do agree with you that the highest corporate rate is too high, the multinationals do not pay it as they can offshore their profits; and closely-held businesses to not pay it as they set their structures up to pass the incidence of tax to shareholders. Only the successful medium to large domestic businesses actually deal with the 35% rate.....

    The 35% rate is not really a problem to most businesses, but it is a problem to some. They should lower rates and tighten transfer pricing rules and the system would be more equitable for all. Given that the average effective corporate tax rate is closer to 20%, the 35% tax bracket is somewhat moot. The system, as it is, however, isn't equitable and that is a problem.

    It also isn't equitable to the US government and other taxpayers as corporations as a whole are paying less and less taxes over the years.

    Tax Revenue - TypeTaxVsRevenue.jpg

    Lower the rates and cut out the loopholes to make corporations pay their fair share.
    Last edited by upsideguy; 08-14-14 at 12:16 AM.

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