The Conservative Cave
Current Events => The DUmpster => Topic started by: franksolich on October 23, 2008, 08:28:30 AM
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http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4292387
Oh my.
The Stupid is Strong.
dorkulon (1000+ posts) Thu Oct-23-08 06:34 AM
Original message
2/3 of U.S. corporations pay NO federal income tax.
This is the talking point to crush McCain in the next two weeks. Almost nobody realizes that this is true out there, because for some strange reason the corporate press doesn't find it newsworthy. It is time to blow the whistle on this bullshit. How do you think all those Joe the Plumber fans will react to learning that Pepsi pays NO ****ING TAXES in this country whtsoever? Obama should bring this fact up every damn day from now till November 4th.
John McCain says our corporate tax rate is too high. Well, any percentage of nothing is still nothing. We should be slamming him with this.
http://www.reuters.com/article/newsOne/idUSN12494656200...
And amazingly, these corporations still get tax credits.
http://www.aflcio.org/corporatewatch/ns09222004.cfm
What the dorky primitive fails to understand is that it's not a mere 67% of corporations that don't pay income taxes; it's 100% of corporations.
Customers of corporations pay the corporate income taxes; it's figured in with the price of the goods sold by the corporations.
Corporations are merely a middleman, collecting taxes for the government from their customers, nothing more.
One supposes that's too complex for primitives to understand.
greyhound1966 (1000+ posts) Thu Oct-23-08 06:45 AM
Response to Reply #2
4. Yet another aspect of Amerika that is completely backward/upside-down.
frogcycle (1000+ posts) Thu Oct-23-08 06:51 AM
Response to Original message
5. which is why the rate has to be 3 times that of Norway
bottom line: Our tax system favors cheats, scoundrels, manipulators. At the corporate level and at the individual level. Loopholes are made for rats, snakes, and weasels. "Real America" gets stuck paying the tab while the cockroaches scuttle into the woodwork.
kath (1000+ posts) Thu Oct-23-08 09:21 AM
Response to Original message
9. This needs to be spread far and wide - c'mon Democrats - start acting like REAL Democrats and stand up for working people like the Party used to.
How about if instead of just standing around, the primitives (and many Democrats and liberals) actually worked side-by-side with working people?
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frogcycle (1000+ posts) Thu Oct-23-08 06:51 AM
Response to Original message
5. which is why the rate has to be 3 times that of Norway
bottom line: Our tax system favors cheats, scoundrels, manipulators. At the corporate level and at the individual level. Loopholes are made for rats, snakes, and weasels.
Guess who writes the tax codes DUmbshit?
Your beloved comrades in Congress.
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Boy, talk about cherry-picking the article, this DUmmie went out of its way to do so.
From the Reuters article:
Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said.
The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005.
More than half of foreign companies and about 42 percent of U.S. companies paid no U.S. income taxes for two or more years in that period, the report said.
During that time corporate sales in the United States totaled $2.5 trillion, according to Democratic Sens. Carl Levin of Michigan and Byron Dorgan of North Dakota, who requested the GAO study.
(snip)
The report did not name any companies.
They're throwing in all corps, inclucing small Sub-S corps like mine, corps who take their income and pay the owners who in turn pay taxes on that income. Of course they're going to show zero profit.
And 57% didn't pay taxes in one year in eight? Cry me a river. How many of those were start ups who didn't show a profit the first year? Or the 42% for two or more years, how many are new that took a few years to get going and/or are Sub-S?
And of course they don't dare tell us which companies, because most of them are small businesses.
Like most people who invest in the stock market, I receive annual reports on all of which I hold stock. The overwhelming majority of them show they paid taxes in their annual reports, so that's a bunch of baloney.
And like PG said, the rules are in place to not pay taxes. Warren Buffett's company, BerkHath, pays zero taxes. He takes the profit made by the company and buys income tax credits, so the gov't gets the use of the money for a short term anyway. The gov't purposely creates "shelters" like that and tax-free bonds in order to attract capital to be used in particular projects and other outlays.
It's libs inability to understand how the tax code is structured that gets them all confused, and it's their own fault for being that stupid.
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Somebody injects a bit of reality.
Meiko (70 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Thu Oct-23-08 01:38 PM
Response to Original message
24. Corporations
don't pay taxes, they are passed on to the customer.
TahitiNut Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Thu Oct-23-08 01:56 PM
Response to Reply #24
27. Wrong. I find it amazing that people repeat this canard without comprehending how wrong it is.
Amazing.
So tell us TahitiNut how wrong is it?
Are you really that stupid to think that corporations don't pass on the cost of doing business, including taxes into the price of their products?
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So tell us TahitiNut how wrong is it?
Are you really that stupid to think that corporations don't pass on the cost of doing business, including taxes into the price of their products?
Idiots like the kooky polynesian primitive believe that companies just slap a pricetag onto a good or service without any considertaion of what it takes to cover their cost and make producing and selling it worth their while. I find it amazing that idiots like him repeat this canard without comprehending how wrong it is.
Amazing.
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Well, the corps do have to pay the taxes out first, before passing them along in pricing, but pass them along they do. That "Out of the last 8 years" and the inclusion of S corps renders the whole statistical parade a steaming pile of meaningless bullshit, of course.
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Okay, so lemme get this straight--Exxon/Mobil earned $40 Billion in profits last year, but paid $104 Billion in taxes, yet didn't pass those on to the customer?
Please, oh enlightened DUmmies, how does one stay in business when it must eat $60 B each year?
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Well, the corps do have to pay the taxes out first, before passing them along in pricing, but pass them along they do. That "Out of the last 8 years" and the inclusion of S corps renders the whole statistical parade a steaming pile of meaningless bullshit, of course.
Quite true, but if I know that my tax rate is going to go up next year I'll be increasing the cost of my product to cover it.
You're right though that the report is a complete steaming wad of misleading BS.