Should corporations pay tax?

[murray t turtle]

Quote from nitro:

"G.E.’s Strategies Let It Avoid Taxes Altogether"

http://www.nytimes.com/2011/03/25/business/economy/25tax.html

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Well that didn't seem to help,or have helped GE stock price much.

Also that so called '' tax loophole'', GE giving $30 million to a [NY]school system, is simply a lawful way of US gov admitting we need all the private sector[education, wisdom...] help we can get.

With all due respect to Gov Mike Huckabee;
calling a [mindless thoughtless] tax of 23% , a fair tax simply doesnt seem fair.LOL. Some states, for example ,have a tax holiday[0, goose egg %] on school supplies............................

The greatest of these;
charity.........................

 

[nitro]

AMZN trying to avoid taxes:

http://video.cnbc.com/gallery/?video=3000043239

 

[nitro]

"Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes"

"Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda. ..."

http://www.bloomberg.com/news/2010-...illion-u-s-revenue-lost-to-tax-loopholes.html

 

[Scataphagos]

1. The government needs tax revenue to operate. Whatever tax system is used should be simple and fair. Ours is NOT!

2. Corporate Income Tax... OK so long as dividends are tax free... having already been paid at the corporate level... Taxing corporate earnings, then taxing dividend distributions is unfair... the same profit gets taxed TWICE.

 

[DeJaneiro]

Ok, to say the corporations don't pay taxes is simply not true.


Corporation Income Tax- Not the highest percentage, but its there

Income tax for everyone who works for the company - people forget that a corporation is not a CEO, but also the 100k other employees. They pay taxes on their earnings.

Taxes on dividends - Investors pay taxes on their gains

Taxes on Capital Gains - Once again investors pay taxes on their gains

It seems as if people only focus on Corporation Income Tax but forget to mention the other taxation that goes along with corporations. Also, Corporate Income Tax is not paid when a company loses money that year. Hence why some companies barely pay any tax some years.

As for the taxes laws, one can argue higher tax rates will help reduce the budget, but keep in mind that the world is a very competitve place. If other nations have more cooperative tax laws, then they will earn the investments in production/employment over time. Can't have it all. We have a great standard of living, America is just going through a ecnomic slowdown. But what people are demanding will not give us a long-term benefit in production in our economy.

 

[RewriteQuran]

US companies are evading taxes by opening/operating an office in Ireland.
But US citizen must pay income tax to US Gov if he is working in Ireland.

Insider trading is legal to US Congress members.
And insider trading is illegal to US Citizens.

How long this hypocrisy will continue?

 

[nitro]

"Tax Avoidance on The Rise"

http://www.ritholtz.com/blog/2011/1...ampaign=Feed:+TheBigPicture+(The+Big+Picture)

 

[Bob111]

Thirty companies paid no U.S. income tax 08-10 Thirty large and profitable U.S. corporations paid no income taxes in 2008 through 2010, said a study released on Thursday that arrives as Congress faces rising demands for tax reform, but seems unable or unwilling to act.

http://news.yahoo.com/thirty-companies-paid-no-u-income-tax-08-165035916.html

Pepco Holdings Inc, a Washington, D.C.-area power company, had the lowest effective tax rate, at negative 57.6 percent, among the 280 Fortune 500 companies studied.

how fucked up that is? -58%?

while middle class citizens are taxed to death. this is what OWS should demand- that the citizens should stop paying their taxes. why not? corps are not paying,why should i pay? i wish i can have that rate..fucking -58%

 

[DontMissTheBus]

Christ on a stick.... shareholders pay tax on dividends and cap gain....

It's like no one has heard of the double taxation of corporations before...

Quote from Bob111:

http://news.yahoo.com/thirty-companies-paid-no-u-income-tax-08-165035916.html




how fucked up that is? -58%?

while middle class citizens are taxed to death. this is what OWS should demand- that the citizens should stop paying their taxes. why not? corps are not paying,why should i pay? i wish i can have that rate..fucking -58%

 

[rew]

The big guys set up all sorts of overseas shell companies to keep their taxes at or near zero. The little guys have to handle a corporate tax like any other kind of expense -- they must cover it through a combination of raising their prices and paying their employees less.

Ultimately all corporate taxes are either not paid at all or come out of people's pockets. So I see no particular virtue to a corporate tax over sales or income taxes.