Can socialists in this country explain how taxing American corporations/companies more is good?

[Ray From Cleveland]

Comparing us to third world countries as a example of what we shouldn't do is ridiculous

We are the greatest country in the history of mankind. We should be setting the standard for other countries to emulate
Great countries take care of their people.

So who takes better care of their people than the United States?

In our country, people that don't work can live just as good if not better than people that do work. Unlike some working people, they get free healthcare, homes in the suburb, a free cell phone, paid utilities, unlimited family size.

Now it's not that we taxpayers are expecting a Thank you or even a Christmas card once a year. But what we don't expect are people telling us we aren't giving enough; that WE are the selfish ones.

 

[Ray From Cleveland]

I don't have a problem with that. I hate the idea of retirement. I'd die of boredom.. Retirement is a relatively new concept anyway. Up until the past 100 years people worked as and when they needed to.

I could never understand that.

I can't wait to quit working. I would never be bored because there are always better things to do than work for somebody else.

 

[Ray From Cleveland]

make up your mind. On the one hand you have 50 million unemployed. On the other your country is too rich. Which is it?

People are unemployed because they want to be and our social programs are way too generous. It's like Rush Limbaugh said repeatedly: if you pay people not to work, don't be surprised when they don't!

And we don't have 50 million unemployed, we have three times that amount. We have 95 million not working nor looking for a job alone, and they're not considered unemployed for that reason. Then you can add the people that they consider unemployed which are those who are not working but looking for a job.

 

[JQPublic1]

How about an example of a company so over taxes they had to leave .

Burger King..........hold the pickle, please!

WHAT FUCKING TAXES? DIG THIS:

There are 27 companies in the Standard & Poor's 500, including telecom firm Level 3 Communications (LVLT), airline United Continental (UAL) and automaker General Motors (GM), that reported paying no income tax expense in 2015 despite reporting pre-tax profits, according to a USA TODAY analysis of data from S&P Global Market Intelligence.

I am not a socialist but I am upset by these mega corporations paying ZIP, NADA, N- O-T-H-I-N-G in taxes.
Don't YOU think they ought to pay MORE tax than ZERO?

 

[ScienceRocks]

And jq,

They pay next to shit and use our roads, police, defense and economic rules that are cost a lot of money. They're cheaters and scum for what they get away with but the republicans will kiss their asses.

 

[ScienceRocks]

You either meant that or you didn't explain how anyone else meant that. So?

No, you just don't see sarcasm...nothing new there....

Sarcasm? Your admission you're a loser

You're the loser if you don't have ten million into the bank as you're being fucked.

 

[Ray From Cleveland]

Corporate Taxes
Big corporations are making bigger and bigger profits, but they’re contributing less and less in taxes. That means they are doing less and less to help build roads and bridges, maintain our schools and fund the many other services government provides. Sixty years ago, 30 percent of total federal tax revenue was from corporations. Today […]

So let's run those numbers:

The top 10% of wage earners in this country pay over 70% in all collected income taxes.

Corporations pay 11% of all collected income taxes.

This means between the top 10% of wage earners and corporations, they are collectively paying over 81% of all federal income taxes collected. that means the rest of us have to come up with the other 19%. But they're not paying enough?????

 

[ScienceRocks]

1) Corporations sell stock in order to fund their business venture. This venture CREATES jobs.

2) Those stocks are purchased with POST-TAX dollars. Those taxes are used to fund the myriad activities of the government at all levels.

3) The corporation makes a gross profit. Federal corporate taxes ARE PAID on that profit. Then, state and local corporate taxes ARE PAID on the original amount. No allowance is allowed for the federal taxes already lowering the base profit (in most states).

4) The remaining profit is distributed to the stockholders, as a return on their investment. That money is AGAIN taxes, usually as capital gains.

5) The corporation, as an entity, is not able to take a profit. They can reinvest a portion of the gross profit, and that reinvestment CREATES jobs. They have no other use for money.

6) Ergo, the governments get their share - they stifle job creation. They tax the investor, the corporation, and the employees. Frankly, they are running out of entities to tax.

7) The argument that corporations use our infrastructure, and thus should have an increased tax burden, is nonsensical. Investors pay for that infrastructure through the income and capital gains taxes they pay. Why should the government get paid twice from the same dollar?

8) Governments invest in infrastructure in order to attract businesses - and then you propose to create an onerous tax load on the corporation that will drive it out. Does that make any sense whatsoever?

But the reality is that hedge and superannuation funds own massive amounts of these stocks. Not mum and dads....So it's just one big merrygoround where Wall St clips the ticket everytime the gravy train passes them by. About two years ago Apple had over $200 billion in cash reserves. I don't feel sorry for them if they have to pay more..

You don't? You must have had to dig deep to admit that ...



What a Democratic party doggie toy you are ...

Corporate shell

 

[JQPublic1]

And jq,

They pay next to shit and use our roads, police, defense and economic rules that are cost a lot of money. They're cheaters and scum for what they get away with but the republicans will kiss their asses.

Not only THAT, Some of them mess up the environment and pollute the air causing all kinds of medical problems which they deny and never have to pay for.

 

[Mertex]

Corporate Taxes
Big corporations are making bigger and bigger profits, but they’re contributing less and less in taxes. That means they are doing less and less to help build roads and bridges, maintain our schools and fund the many other services government provides. Sixty years ago, 30 percent of total federal tax revenue was from corporations. Today […]

So let's run those numbers:

The top 10% of wage earners in this country pay over 70% in all collected income taxes.

Corporations pay 11% of all collected income taxes.

This means between the to 10% of wage earners and corporations, they are paying over 81% in all federal income taxes collected. that means the rest of us have to come up with the other 19%. But they're not paying enough?????

And, you're basing all this on their tax returns? Wake up.

Fact Sheet: Offshore Corporate Loopholes

 

[Ray From Cleveland]

And, you're basing all this on their tax returns? Wake up.

Nope, basing it on the IRS reporting.

 

[ScienceRocks]

When big corporations use tax havens to dodge paying their fair share of taxes, the rest of us have to pick up the tab. Families pay higher taxes, get fewer services or we all get a bigger deficit.

Tax dodging by large corporations puts small businesses that play by the rules at a disadvantage. We need to level the playing field

---
sicking

 

[ScienceRocks]

And, you're basing all this on their tax returns? Wake up.

Nope, basing it on the IRS reporting.

But that isn't what they're paying in taxes.

 

[Ray From Cleveland]

But that isn't what they're not paying in taxes.

I have absolutely no idea what that even means.

I'm pointing out what they are paying.

 

[Mertex]

And, you're basing all this on their tax returns? Wake up.

Nope, basing it on the IRS reporting.

And, you're basing all this on their tax returns? Wake up.

Nope, basing it on the IRS reporting.

The IRS can't report what it doesn't see.

• U.S. corporations dodge $90 billion a year in income taxes by shifting profits to subsidiaries — often no more than a post office box — in tax havens.

 

[Mertex]

But that isn't what they're not paying in taxes.

I have absolutely no idea what that even means.

I'm pointing out what they are paying.

Yes, you are pointing out that what they report as earning seems fair to what they are paying in taxes.....what you are not pointing out is the profits that they are not reporting to the IRS.

• U.S. corporations dodge $90 billion a year in income taxes by shifting profits to subsidiaries — often no more than a post office box — in tax havens.

 

[ScienceRocks]

But that isn't what they're not paying in taxes.

I have absolutely no idea what that even means.

I'm pointing out what they are paying.

I messed up...

Many of the big boys in the corporate world aint paying a thing. Is this fair?

 

[Ray From Cleveland]

I messed up...

Many of the big boys in the corporate world aint paying a thing. Is this fair?

I guess you would have to go on a case by case basis.

If a company is spending more money than the profits they are making, they get to write off those expenses. If they had to pay taxes regardless of what their spending was, the only choice they would have is to close up shop or move out of the country.

 

[JQPublic1]

Corporate Taxes
Big corporations are making bigger and bigger profits, but they’re contributing less and less in taxes. That means they are doing less and less to help build roads and bridges, maintain our schools and fund the many other services government provides. Sixty years ago, 30 percent of total federal tax revenue was from corporations. Today […]

So let's run those numbers:

The top 10% of wage earners in this country pay over 70% in all collected income taxes.

Corporations pay 11% of all collected income taxes.

This means between the top 10% of wage earners and corporations, they are collectively paying over 81% of all federal income taxes collected. that means the rest of us have to come up with the other 19%. But they're not paying enough?????

• Many Big U.S. Corporations Pay Very Little in Taxes, Reuters
• Big Companies Paid a Fraction of Corporate Tax Rate, The New York Times
• Post Analysis of Dow 30 Firms Shows Declining Tax Burden as a Share of Profits, The Washington Post
• Report: Corporations Pay Fraction of Top Rate, The Hill
• G.E.’s Strategies Let It Avoid Taxes Altogether, The New York Times
• With Tax Break, Corporate Rate Is Lowest in Decades, The Wall Street Journal
• U.S. Business Has High Tax Rates but Pays Less, The New York Times

 

[Ray From Cleveland]

The IRS can't report what it doesn't see.

What the IRS sees is the percentage of taxes corporations and wealthy people do pay.

So once again, if wealthy people and corporations pay 81% of all collected income tax and that is not enough, then what is enough? What is their supposed fair share?