US corporate tax cheats hiding $1.4 trillion in profits in offshore accounts

RDS · Apr 16, 2016

Broad day light robbery exposed.
US corporate tax cheats hiding $1.4 trillion in profits in offshore accounts - World Socialist Web Site

James972 · Apr 27, 2016

RDS said:
Broad day light robbery exposed.
US corporate tax cheats hiding $1.4 trillion in profits in offshore accounts - World Socialist Web Site

Why not eliminate the corporate tax so they can invest where ever they can earn the highest return?

RDS · Apr 28, 2016

James972 said:
Why not eliminate the corporate tax so they can invest where ever they can earn the highest return?

Just vote for Donald Trump!

James972 · Apr 28, 2016

RDS said:
Just vote for Donald Trump!

I of course will but he only wants to cut it to 25%- right? It should be eliminated since it cause our greatest corporations to move offshore and take million of jobs with them,

RDS · Apr 28, 2016

James972 said:
I of course will but he only wants to cut it to 25%- right? It should be eliminated since it cause our greatest corporations to move offshore and take million of jobs with them,

He can't cut all of them. Who is going to feed you guys with food stamps?

DA60 · Apr 29, 2016

Good.

Corporations should not pay any corporate taxes anyway.

Corporate taxes are usually just passed on to consumers...they are nonsensical.

This fanciful notion that many have that corporations just eat corporate taxes is right up their with the Easter Bunny and Santa Claus.

You don't agree...I don't much care.

James972 · Apr 29, 2016

DA60 said:
Corporate taxes are usually just passed on to consumers...they are nonsensical.

this is true we have corporate taxes only to pander to the pure 100% ignorance of liberals who think they are making corporations pay their fair share when really the liberals are paying the tax. Corporations are tax collectors not taxpayers!

Lafayette · May 1, 2016

DA60 said:
Corporate taxes are usually just passed on to consumers...they are nonsensical.

Corporate taxes are an integral part of a taxation system consisting of only two elements, Corporate Taxation and Individual Taxation (itself consisting of state Sales and national Income Taxes).

Drop Corporate Taxation and who's gonna pay for all those F-35s you want (from a DoD budget that already eats up to 20% of the total)? Yeah, I know, we just cut food-stamps!

Right, and when they come into your house looking for food, who you gonna call?!?

The National Guard?

FYI: Prisons of Poverty: Uncovering the pre-incarceration incomes of the imprisoned Excerpt:

The findings are as predictable as they are disturbing. The American prison system is bursting at the seams with people who have been shut out of the economy and who had neither a quality education nor access to good jobs. We found that, in 2014 dollars, incarcerated people had a median annual income of $19,185 prior to their incarceration, which is 41% less than non-incarcerated people of similar ages.

So, now you gonna add, "All they gotta do is get off their ass and getta job!"

Yeah, if ignorance was bliss, you'd be in heaven ...

Lafayette · May 1, 2016

RDS said:
Broad daylight robbery exposed.

And those are only the unreported purchases of property or investments not reported to the Federal government by means of Panama.

One can get exactly the same service in British Virgin Islands, and many, many other jurisdictions. The world of illicit financing by means of shell-companies is large. See the interview regarding "The Hidden Wealth Of Nations" Author Explores World Of Offshore Tax Havens of its author, G. Zucman.

Excerpt:

ZUCMAN: (Panama Fonseca) ... it's just one firm in one tax haven, and there is much more going on. And if you want to have a comprehensive view of the scale of problem, you need to look at macroeconomic statistics. And when you do that, you see that there's about 8 percent of the world's financial wealth that is held in tax havens globally. So that's about $7.6 trillion today, a huge amount of wealth.

And, after ripping-off the Federal Government by very low income taxation, America's SuperRich then ship the money-Wealth offshore to make sure it need not be reported to the IRS, and can be easily inherited by their children thus avoiding once again the IRS. Not so.

See here (from ): Some numbers regarding off-shore tax havens.

Excerpt:

Gabriel Zucman compares the statutory tax rate with what actually gets paid in the U.S. The nominal corporate tax rate has been 35% since 1993, but the proportion of U.S. corporate profits actually collected by the Internal Revenue Service (the effective tax rate) has never reached even 30% in the years since that change and in 2013 stood at around 16%. Zucman estimates that offshore tax schemes are responsible for about two-thirds of the decline in the effective tax rate since 1998, representing a loss of over $100 billion for the U.S. treasury in 2015

James972 · May 1, 2016

Lafayette said:
Corporate taxes are an integral part of a taxation system consisting of only two elements, Corporate Taxation and Individual Taxation (itself consisting of state Sales and national Income Taxes).

Drop Corporate Taxation and who's gonna pay for all those F-35s you want (from a DoD budget that already eats up to 20% of the total)? Yeah, I know, we just cut food-stamps!

Right, and when they come into your house looking for food, who you gonna call?!?

The National Guard?

FYI: Prisons of Poverty: Uncovering the pre-incarceration incomes of the imprisoned Excerpt:

So, now you gonna add, "All they gotta do is get off their ass and getta job!"

Yeah, if ignorance was bliss, you'd be in heaven ...

liberals are slow and anti intellectual. they don't know that the corporate tax cost like any cost is passed on in the form of higher prices to consumers. Liberals think corporations are paying the tax when really they as consumers are paying the tax. We have the tax only to pander to the pure ignorance of liberals.

code1211 · May 1, 2016

DA60 said:
Good.

Corporations should not pay any corporate taxes anyway.

Corporate taxes are usually just passed on to consumers...they are nonsensical.

This fanciful notion that many have that corporations just eat corporate taxes is right up their with the Easter Bunny and Santa Claus.

You don't agree...I don't much care.

Corporations don't pay taxes, they collect them.

James972 · May 2, 2016

code1211 said:
Corporations don't pay taxes, they collect them.

exactly!!! in fact they collect them from the perfect idiot liberals who want the taxes levied having no where near the IQ needed to understand who actually pays them!! That's liberalism in a nut shell.