Exxon paid a 2% US income tax rate off its profit before tax.

[ClosedCaption]

Taxes is how we pay into the system. Call it apple pie if you want but apple pie is how pay into the system.
Is road work an entitlement? Well, depends on how you look at I guess.
Isthe military an entitlement? Again, depends on how you look at it

But both are paid for by our tax dollars. If the taxes aren't collected those things get cut. Again, who cares? It's more important for business to make more than it is to make sure America stays America.

You gotta pick a side, I pick America and the people in it. Im Not sorry about that

 

[drivebymedia]

Taxes is how we pay into the system. Call it apple pie if you want but apple pie is how pay into the system.
Is road work an entitlement? Well, depends on how you look at I guess.
Isthe military an entitlement? Again, depends on how you look at it

But both are paid for by our tax dollars. If the taxes aren't collected those things get cut. Again, who cares? It's more important for business to make more than it is to make sure America stays America.

You gotta pick a side, I pick America and the people in it. Im Not sorry about that

America will not retain it's title as "the corporate welfare State" if Barack Obama has any thing to say about it ... (and he does have a little input!!)

U.S. corporations and the wealthy outsourced 8 million jobs chasing Bush's welfare.

This will change ...

 

[LogikAndReazon]

Thank goodness there are liberals to tell us who has paid their "fair share" and what favored constituencies deserve the compassion of their redistributive justice.........lol

 

[Redfish]

liberals attack corporations for complying with the tax code put in place by democrats--------amazing.

 

[Redfish]

Taxes is how we pay into the system. Call it apple pie if you want but apple pie is how pay into the system.
Is road work an entitlement? Well, depends on how you look at I guess.
Isthe military an entitlement? Again, depends on how you look at it

But both are paid for by our tax dollars. If the taxes aren't collected those things get cut. Again, who cares? It's more important for business to make more than it is to make sure America stays America.

You gotta pick a side, I pick America and the people in it. Im Not sorry about that

America will not retain it's title as "the corporate welfare State" if Barack Obama has any thing to say about it ... (and he does have a little input!!)

U.S. corporations and the wealthy outsourced 8 million jobs chasing Bush's welfare.

This will change ...

really? why didn't obozo change it during his first two years when he had control of both houses of congress?

Obama needs corporate support as much, if not more, than the GOP.

BTW, how much did obama's buddies in GE pay in US corporate income tax last year? ZERO

 

[boedicca]

From page 94 of the Exxon 10-K.

Yes, but that doesn't quite tell the whole story, does it? You left out the fact that Exxon pays a 44% effective world-wide income tax rate, that more than 2/3 of their income is earned outside the US, and that their domestic (US) income tax rate on their income earned in the US is 16.8% for the federal income tax, 22.1% if you also include state income taxes, and 31.9% if you include deferred items that will be taxed in future years based on that years(2011) income.

You can't take their US tax and divide by worldwide income (where they pay even higher tax rates) and then report in one line what you concluded without being deceptive. Maybe that was the point of your deceptive OP?

Few countries implemented the idiotic "Bush Tax Cuts" - which do not tax overeas profits - provided the money is NOT brought back to the U.S.

It's why Mitt goes to the Caymans every week to launder his money into U.S. banks.

Which alternate universe is this from? Most countries DO NOT DOUBLE TAX corporate profits. Profits earned outside of the country are taxed in the jurisdiction where the legal entity sits. Countries negotiate tax treaties to cover these arrangements, which are perfectly legal in the U.S. and elsewhere.

 

[BillyV]

From page 94 of the Exxon 10-K.

Yes, but that doesn't quite tell the whole story, does it? You left out the fact that Exxon pays a 44% effective world-wide income tax rate, that more than 2/3 of their income is earned outside the US, and that their domestic (US) income tax rate on their income earned in the US is 16.8% for the federal income tax, 22.1% if you also include state income taxes, and 31.9% if you include deferred items that will be taxed in future years based on that years(2011) income.

You can't take their US tax and divide by worldwide income (where they pay even higher tax rates) and then report in one line what you concluded without being deceptive. Maybe that was the point of your deceptive OP?

Few countries implemented the idiotic "Bush Tax Cuts" - which do not tax overeas profits - provided the money is NOT brought back to the U.S.

It's why Mitt goes to the Caymans every week to launder his money into U.S. banks.

Please point us to the clause in the "Bush Tax Cuts" that changed the treatment of overseas profits.....

 

[P@triot]

From page 94 of the Exxon 10-K.

How much Tax Revenue does Exxon generate for the Federal Government? How much for Individual State Governments?

Does it occur to you that the goverment profits more from oil than the oil companies do?

Of course not! Nothing "occurs" to the liberal that Chris Matthews or Rachael Madcow didn't tell them.

 

[P@triot]

The answer is to revise the tax code (which, incidentally, Obama didn't write) to eliminate loopholes that favor only certain parties, meaning big business and the Cayman Island rich.

Uh, conservatives have been screaming for this for DECADES! And you know why you idiot liberals won't do it?

Because a streamlined tax code without loopholes is uncomplicated. An uncomplicated tax code means liberals can't hide their taxes to FUCK the American people over. Obamacare alone has 20 hidden taxes in it.

Face it, it's you fuck'n greedy liberals that have created our nightmare tax system, and you love all of it except when people work that fucked up system to retain more of their wealth. Then you idiots throw a hissy...

 

[P@triot]

I'm all for companies keeping more of what they earn but when the tax burden is shifted onto me and you then I have a problem. The goal should be to make sure America endures. If big companies can get all these tax breaks while running overseas, that's hurts small businesses here. Which isn't good for America. If they skip or find some legal judo move to avoid taxes, that hurts the people here when it's shifted onto us in the form of more taxes or cutting medicare, ssi or headstart programs. See, making sure a company makes money is important but not more important than myself or making sure America endures. If I'm wrong for putting myself or America first then I'm guilty as charged.

But you aren't putting America FIRST!!!

Why do you think there is over $1 trillion off shore? Because of TAXES!
Now idiots like you think the solution is raising taxes raise revenue. It does. Short TERM!
Idiots like you think Unions are necessary. But when auto makers are faced with union contracts that require grass cutters be paid a total of $65/hour in wages and benefits... Why do you think jobs are overseas and therefore manufacturing and therefore TAX BASE!
With this anti-business anti-capitalist, business owners are EVIL administration especially that is RAISING the costs of doing business in the USA
AGAIN do you understand therefore why businesses are off shore!

There is NO Economic incentive to keep businesses and wealthy people here!

So what you say...


Tell Calif. "so what"
From small businessmen in San Diego to vintners in Napa Valley, top-earning Californians reeling from a new state income tax are preparing to pack up and bail out.

Read more: California residents, businesses consider bailing on Golden State over taxes | Fox News

Tell New York "so what"!
New York state tops the nation in one key export — people fleeing high taxes.
More than 3.4 million New Yorkers — with combined annual earnings of $119 billion — pulled up stakes and left for other states from 2000 through 2009, according to the Tax Foundation.'
New York?s high taxes are driving residents to other states, new study shows - NYPOST.com

And these states are the microcosm of the USA economy! Companies like people are trying to keep what they earn and they WANT to pay
a reasonable rate BUT...
Why should Federal tax money sent to pay for these stupid government spending??
These people are just sick of seeing there tax money paying for:
The USA Federal government spent:
- $2.6 million to make sure prostitutes in China drink less on the job.

- $1.44 million in federal funds estimating the size of the population and examining the “social milieu” of male prostitutes in Hanoi & Ho Chi Minh City,

- Washington spends $25 billion annually maintaining unused or vacant federal properties

- Studying pig poop. The EPA awarded a $141,450 grant under the Clean Air Act to fund a Chinese study on swine manure

- a $1.2 million grant to the United Nations for clean fuel promotion.

- Conferences for government employees. In 2008 & 2009 alone, the Department of Justice spent $121 million to host or participate in 1,832 conferences.

- U.S. government has spent $1.5 million to preserve some artifacts left during the hostile Indian occupation of Alcatraz Island more than four decades go.
While the State Department saved money on security in Libya, it somehow managed to find $5.6 million in 2011 to support “pressing cultural preservation needs” in dozens of foreign countries.
Here are some of the dire projects funded by U.S. tax dollars that perhaps could be better spent on securing U.S. embassies in hostile Arab countries.
- Uncle Sam doled out
$750,000 to restore a 16th-century tomb complex in India,
$700,000 to conserve ruins in Tanzania,
$600,000 for the “temple of the winged lions” in Jordan and
$450,000 for the conservation of a 10th century temple in Cambodia. Those were just the big ticket projects.
Hundreds of thousands more went to smaller causes throughout the world.

I mean do you REALLY think spending $2.6 million IN CHINA studying drinking habits of Chinese prostitutes is essential??

So again.. people that hate to see their tax dollars paid to do the above, find ways to minimize and going out of state or out of the country -- that's the FACTS

Ok - this is getting ridiculous now. Either stop stating FACTS full of good information, or leave this board. The idiot liberal cannot handle facts. They live off of radical wing-nut propaganda. You're going to make their head burst talking basic economics and truth to them....

 

[P@triot]

Wait, thats not proof? They have records? Are records not proof anymore?


Either way, you like to nit pick on little things. Point is, I'm not cutting my own throat or Americas just so a few at the very top can prosper. I'll choose America over them (if its a choice) everytime.

I would say I'm sorry, but I'm not

This kind of thinking is truly disgusting. Those at the top are not prospering because anyone did them any favors. Quite the contrary, they are prospering in spite of idiots like you trying to bring them down and punish them for hard work and success.

It's people like YOU who are destroying America. You're entire ideology has been implemented in Cuba for over 50 years now. How's that been working out?

 

[P@triot]

Wait, thats not proof? They have records? Are records not proof anymore?


Either way, you like to nit pick on little things. Point is, I'm not cutting my own throat or Americas just so a few at the very top can prosper. I'll choose America over them (if its a choice) everytime.

I would say I'm sorry, but I'm not

There is only one response to people spewing insanity like this....

Who is John Galt?​

 

[realinvestment]

Yes, but that doesn't quite tell the whole story, does it? You left out the fact that Exxon pays a 44% effective world-wide income tax rate, that more than 2/3 of their income is earned outside the US, and that their domestic (US) income tax rate on their income earned in the US is 16.8% for the federal income tax, 22.1% if you also include state income taxes, and 31.9% if you include deferred items that will be taxed in future years based on that years(2011) income.

You can't take their US tax and divide by worldwide income (where they pay even higher tax rates) and then report in one line what you concluded without being deceptive. Maybe that was the point of your deceptive OP?

Few countries implemented the idiotic "Bush Tax Cuts" - which do not tax overeas profits - provided the money is NOT brought back to the U.S.

It's why Mitt goes to the Caymans every week to launder his money into U.S. banks.

Please point us to the clause in the "Bush Tax Cuts" that changed the treatment of overseas profits.....

Read this...

<<<But opponents charged that the tax package had grown into a massive giveaway that will add to the complexity of the tax system and end up rewarding multinational companies that move jobs overseas.>>>

Bush quietly signs corporate tax-cut bill - Business - Stocks & economy | NBC News

 

[P@triot]

You can call for equal treatment all you like but doing that while defending the current system wont lead to any change since...you are defending it.

It's your side of the aisle that has created this mess. We have a Constitution, it's your side that has decided they don't have to follow it. You have no one to blame but yourselves.

Whether you realize it or not defending this is cutting your own throat. Who do you think the burden falls on when they dont pay?

More importantly, who do you think the burden falls on when they are forced to pay? Only an idiot says, "lets punish the successful and reward the lazy".

I realize they are part of America....I want them to realize and stop stiffing the rest of us. Again, if thats wrong then I'm guilty. But we both realize there is a problem. I just chose to go after the sharks and you choose to go after the minnows.

No, you choose to beat your oldest child severely for bringing home straight A's and glowing report about their behavior from the teacher. At the same time, you choose to heap praise and reward on your youngest child for dropping out of high school, telling the teachers to "f*ck off", and doing drugs.

Only a fucking idiot would do that, yet that's what you liberals do EVERY single day you call to punish the successful and hand their money over to the dregs of society. If you're too stupid to understand how that system will end, there is nothing anyone can do to help you. You're a lost, sad soul.

 

[auditor0007]

GE hasn't paid a dime for years?

Yet what will some domestic owned firm pay? A lot, and a lot more since the fiscal cliff deal was made.


The system gives a huge advantage to the multinational corporation. It's an uneven playing field.

Instead of jacking up their taxes in the name of FAIRSHARENESS, has it ever occurred to you that perhaps the answer is to descope the size of government and lower taxes for everyone?

We already did that; it's what got us into this mess to begin with. It just amazes me that people can really be this stupid. We cut taxes over and over again, to the point that we have reduced government revenues to their lowest level in over 60 years, and the only answer you can come up with is that we should cut taxes more. It truly is mind boggling.

As for multinational corporations paying taxes, they should pay taxes for the profits earned in the country they were earned in. If x amount of profit was made in the US, then the appropriate amount of taxes should be paid based on the profit earned in the US. The problem we seem to be running into is that some companies are being accused of moving US earned profits overseas so they can avoid paying taxes in the US. Honestly, I don't know if this is what is happening or not. If it is, then it needs to be stopped.

If these companies reinvest in themselves, they won't be taxed on earnings that are reinvested. Again the problem seems to be that they are not being taxed on earnings because they are moving those profits to reinvest in other countries. Again, that would be a huge problem. If they want to reinvest US profits to avoid paying US taxes, then they need to reinvest that money in the US, not fucking Asia.

 

[realinvestment]

[/QUOTE]



As for multinational corporations paying taxes, they should pay taxes for the profits earned in the country they were earned in. If x amount of profit was made in the US, then the appropriate amount of taxes should be paid based on the profit earned in the US. The problem we seem to be running into is that some companies are being accused of moving US earned profits overseas so they can avoid paying taxes in the US. Honestly, I don't know if this is what is happening or not. If it is, then it needs to be stopped.

[/QUOTE]


It seems you've got it right on. No reason to question yourself.

 

[BillyV]

Few countries implemented the idiotic "Bush Tax Cuts" - which do not tax overeas profits - provided the money is NOT brought back to the U.S.

It's why Mitt goes to the Caymans every week to launder his money into U.S. banks.

Please point us to the clause in the "Bush Tax Cuts" that changed the treatment of overseas profits.....

Read this...

<<<But opponents charged that the tax package had grown into a massive giveaway that will add to the complexity of the tax system and end up rewarding multinational companies that move jobs overseas.>>>

Bush quietly signs corporate tax-cut bill - Business - Stocks & economy | NBC News

Well, technically this bill, the American Jobs Creation Act of 2004, is not considered as part of the so-called "Bush Tax Cuts"; however, the main reason this bill was passed was because the EU was threatening a trade war over perceived US subsidies to exporters. The bill mainly repealed the extraterritorial income exclusion (in other words, took away a tax break for foreign operations of US companies) and replaced it with a production tax deduction that benefited US manufacturers; you've probably heard of it as a "big oil subsidy", but it is available to all US manufacturers. I fail to see how that helps to "move jobs overseas", and your MSNBC link doesn't elaborate beyond the line you have quoted (how convenient). The bill also created a one-year amnesty for companies to repatriate foreign income; while not as successful as expected, repatriated profits on the order of $200 billion+ were returned to the US.

I know you will be able to explain how this helped companies to avoid US tax by "not taxing overseas profits". We'll wait.

 

[ClosedCaption]

Wait, thats not proof? They have records? Are records not proof anymore?


Either way, you like to nit pick on little things. Point is, I'm not cutting my own throat or Americas just so a few at the very top can prosper. I'll choose America over them (if its a choice) everytime.

I would say I'm sorry, but I'm not

This kind of thinking is truly disgusting. Those at the top are not prospering because anyone did them any favors. Quite the contrary, they are prospering in spite of idiots like you trying to bring them down and punish them for hard work and success.

It's people like YOU who are destroying America. You're entire ideology has been implemented in Cuba for over 50 years now. How's that been working out?

Got it, tax breaks that favor them and tax hikes for everyone else doesnt help the people at the top and does not hurt the ones affected by the tax hike. All righty then

 

[Uncensored2008]

Got it, tax breaks that favor them and tax hikes for everyone else doesnt help the people at the top and does not hurt the ones affected by the tax hike. All righty then

I have little tolerance for you. Your abject stupidity is only exceeded by your blatant dishonesty,

So show when taxes were "hiked on the little people" and "cut to the rich?"

No? You can't show that? You were just lying again?

 

[ClosedCaption]

You can call for equal treatment all you like but doing that while defending the current system wont lead to any change since...you are defending it.

It's your side of the aisle that has created this mess. We have a Constitution, it's your side that has decided they don't have to follow it. You have no one to blame but yourselves.

Whether you realize it or not defending this is cutting your own throat. Who do you think the burden falls on when they dont pay?

More importantly, who do you think the burden falls on when they are forced to pay? Only an idiot says, "lets punish the successful and reward the lazy".

I realize they are part of America....I want them to realize and stop stiffing the rest of us. Again, if thats wrong then I'm guilty. But we both realize there is a problem. I just chose to go after the sharks and you choose to go after the minnows.

No, you choose to beat your oldest child severely for bringing home straight A's and glowing report about their behavior from the teacher. At the same time, you choose to heap praise and reward on your youngest child for dropping out of high school, telling the teachers to "f*ck off", and doing drugs.

Only a fucking idiot would do that, yet that's what you liberals do EVERY single day you call to punish the successful and hand their money over to the dregs of society. If you're too stupid to understand how that system will end, there is nothing anyone can do to help you. You're a lost, sad soul.

Who said anything about handing money to anyone? See, you're problem is that you dont see govt functions as anything other than handouts. Fire Dept, Roads, Libraries, Museums etc dont even enter your mind as something govt does. The only thing you think taxes are for is either for rich ppl to bring home more pay or to provide handouts to the poor. It's no logic involved for you.

Giving more to the rich and taking more from everyone else is ok for you because in your mind, the rich deserve more and if it hurts the other 80% then the 80% should just become rich. That to you is not class warfare...it's only wrong if someone asks the rich for more so that the 80% wont get punished.

Your class warfare only works one way.