Facebook paid no taxes despite record profits

[Deepbluediver]

My view on the matter is that corporations should not pay taxes at all. I also oppose subsidies, tax breaks, government-backed loan, or anything else that give them an edge.
Coporate darwinism is the way to go, IMO.

A corporation is not a person; it's a business.
If it makes a profit, most of the money will(should) be reinvested. What doesn't go back to the company get's paid out to stockholders and employees as dividends or income, in which case it gets taxed anyway. And without a corporate tax, these companies can spend more resources on developing new products or having better service, rather than finding loopholes to keep their dough out of Uncle-Sam's pocket.


Incidentally, a corporate tax rate of 0% seems like it might be a good way to attract investment dollars to the United States, but that's somewhat off-topic.

 

[NYcarbineer]

Jillian

since you don't seem to understand who wrote the tax code.

Party In Power - Congress and Presidency - A Visual Guide To The Balance of Power In Congress, 1945-2008

Who controlled Congress in 2006?

are you claiming that no dems voted for the bill that set this up?

My point was larger than this single issue. you libs always attack the tax code that allows deductions for corporations, but you never acknowledge that the dems have controlled the body that writes the tax code for all but a few of the last 75 years.

I'll repeat the question:

Who controlled Congress in 2006?

 

[jillian]

Jillian

since you don't seem to understand who wrote the tax code.

Party In Power - Congress and Presidency - A Visual Guide To The Balance of Power In Congress, 1945-2008

Who controlled Congress in 2006?

are you claiming that no dems voted for the bill that set this up?

My point was larger than this single issue. you libs always attack the tax code that allows deductions for corporations, but you never acknowledge that the dems have controlled the body that writes the tax code for all but a few of the last 75 years.

still evading the question because you're a know nothing hack.

 

[jillian]

Who controlled Congress in 2006?

are you claiming that no dems voted for the bill that set this up?

My point was larger than this single issue. you libs always attack the tax code that allows deductions for corporations, but you never acknowledge that the dems have controlled the body that writes the tax code for all but a few of the last 75 years.

I'll repeat the question:

Who controlled Congress in 2006?

you know you're not going to get an answer from the uneducated twit.

 

[blackhawk]

As was pointed out by rightwingers throughout the election season, no one has the obligation to pay more in taxes than they are legally required to.

and the top 10 most profitable companies paid an average of just 9% on their 2011 taxes.

10 Most Profitable U.S. Corporations Paid Average Tax Rate Of Just 9 Percent Last Year: Report

so what are you faux-raging about now, hatebear?

As was pointed out by left wingers during the same season the rich need to pay more and chip in their fair share. Does that apply to all rich people or just rich conservatives after all we sure heard a lot about what Romney did or did not pay in taxes didn't we? FYI he paid more than Facebook it seems.

 

[jillian]

As was pointed out by rightwingers throughout the election season, no one has the obligation to pay more in taxes than they are legally required to.

and the top 10 most profitable companies paid an average of just 9% on their 2011 taxes.

10 Most Profitable U.S. Corporations Paid Average Tax Rate Of Just 9 Percent Last Year: Report

so what are you faux-raging about now, hatebear?

As was pointed out by left wingers during the same season the rich need to pay more and chip in their fair share. Does that apply to all rich people or just rich conservatives after all we sure heard a lot about what Romney did or did not pay in taxes didn't we? FYI he paid more than Facebook it seems.

have corporate tax laws been modified?

 

[GuyPinestra]

As was pointed out by rightwingers throughout the election season, no one has the obligation to pay more in taxes than they are legally required to.

and the top 10 most profitable companies paid an average of just 9% on their 2011 taxes.

10 Most Profitable U.S. Corporations Paid Average Tax Rate Of Just 9 Percent Last Year: Report

so what are you faux-raging about now, hatebear?

I repeat---the democrats in congress wrote most of the tax code

corporations do not pay taxes, consumers pay taxes in the price of the product. If the oil companies were tax exempt, gas would be a lot cheaper. WE are paying the tax on gasoline.

when did the democrats write "most of the tax code"?

i'm sure you have a link to that, right?

of course corporations pay taxes. they're supposed to pay about 35%

and even if they wrote "most" of it, which i highly doubt, what parts affect corporations and who "wrote" them and voted on them?

and does i really matter when corporations offshore money, jobs and profits?

please figure out what you're talking about before you post.

we do not have a VAT. We have INCOME taxes.

Jeez Jillian, is it so hard for you to realize that ALL corporations adjust their prices to pay the cost of corporate taxation? It is a "cost of doing business", and it is paid by the consumers who purchase that corporation's products.

 

[blackhawk]

As was pointed out by rightwingers throughout the election season, no one has the obligation to pay more in taxes than they are legally required to.

and the top 10 most profitable companies paid an average of just 9% on their 2011 taxes.

10 Most Profitable U.S. Corporations Paid Average Tax Rate Of Just 9 Percent Last Year: Report

so what are you faux-raging about now, hatebear?

As was pointed out by left wingers during the same season the rich need to pay more and chip in their fair share. Does that apply to all rich people or just rich conservatives after all we sure heard a lot about what Romney did or did not pay in taxes didn't we? FYI he paid more than Facebook it seems.

have corporate tax laws been modified?

Were they modified when Romney was running for President and the left was bitching about his taxes?

 

[Redfish]

Who controlled Congress in 2006?

are you claiming that no dems voted for the bill that set this up?

My point was larger than this single issue. you libs always attack the tax code that allows deductions for corporations, but you never acknowledge that the dems have controlled the body that writes the tax code for all but a few of the last 75 years.

I'll repeat the question:

Who controlled Congress in 2006?

the republicans, are you claiming that no dems voted for the bill?

 

[Redfish]

I repeat---the democrats in congress wrote most of the tax code

corporations do not pay taxes, consumers pay taxes in the price of the product. If the oil companies were tax exempt, gas would be a lot cheaper. WE are paying the tax on gasoline.

when did the democrats write "most of the tax code"?

i'm sure you have a link to that, right?

of course corporations pay taxes. they're supposed to pay about 35%

and even if they wrote "most" of it, which i highly doubt, what parts affect corporations and who "wrote" them and voted on them?

and does i really matter when corporations offshore money, jobs and profits?

please figure out what you're talking about before you post.

we do not have a VAT. We have INCOME taxes.

Jeez Jillian, is it so hard for you to realize that ALL corporations adjust their prices to pay the cost of corporate taxation? It is a "cost of doing business", and it is paid by the consumers who purchase that corporation's products.

you are wasting your time, she obviously does not understand basic accounting and the basics of taxation. she is a typical ignorant arrogant leftist.

 

[Redfish]

are you claiming that no dems voted for the bill that set this up?

My point was larger than this single issue. you libs always attack the tax code that allows deductions for corporations, but you never acknowledge that the dems have controlled the body that writes the tax code for all but a few of the last 75 years.

I'll repeat the question:

Who controlled Congress in 2006?

you know you're not going to get an answer from the uneducated twit.

why would he expect you to answer him?

 

[jillian]

As was pointed out by left wingers during the same season the rich need to pay more and chip in their fair share. Does that apply to all rich people or just rich conservatives after all we sure heard a lot about what Romney did or did not pay in taxes didn't we? FYI he paid more than Facebook it seems.

have corporate tax laws been modified?

Were they modified when Romney was running for President and the left was bitching about his taxes?

you mean his personal taxes?

you seem to be mixing up your concepts. i have no problem talking about the fact that corporate tax loopholes should be closed.

i also think income should be taxed at the same rate whether it's you or i earning it as W-2 employees.... or mittens earning it from his passive income.

so again, i'm not following where the fauxrage is coming from.

i sure didn't vote to give exxon/mobil a pass...

or facebook.

btw, just for the heck of it, and i'm not an accountant, but doesn't it make sense that FB would show losses for the tax year when their stock price dropped precipitously after the IPO?

just sayin'

 

[jillian]

I'll repeat the question:

Who controlled Congress in 2006?

you know you're not going to get an answer from the uneducated twit.

why would he expect you to answer him?

cute... the 'i know you are but what am i' school of debate.

you're dismissed because you're useless...

and really, really, really stupid.

 

[Mr Natural]

I would think you righties would be cheering the fact that a corporation got out of paying its fair share of taxes.

 

[blackhawk]

have corporate tax laws been modified?

Were they modified when Romney was running for President and the left was bitching about his taxes?

you mean his personal taxes?

you seem to be mixing up your concepts. i have no problem talking about the fact that corporate tax loopholes should be closed.

i also think income should be taxed at the same rate whether it's you or i earning it as W-2 employees.... or mittens earning it from his passive income.

so again, i'm not following where the fauxrage is coming from.

i sure didn't vote to give exxon/mobil a pass...

or facebook.

btw, just for the heck of it, and i'm not an accountant, but doesn't it make sense that FB would show losses for the tax year when their stock price dropped precipitously after the IPO?

just sayin'

The outrage comes from when a conservative Mitt Romney or a conservative leaning business Exxon uses the tax system to it's advantage it get's demonized by the left for it yet when a liberal Warren Buffet or a liberal leaning business Facebook here or more famously G.E. does the same thing we hear nothing. So it comes back to the question I asked before are the left outraged by all rich people and companies doing this or just the conservative ones? It seems to be just conservative ones.

 

[NYcarbineer]

I repeat---the democrats in congress wrote most of the tax code

corporations do not pay taxes, consumers pay taxes in the price of the product. If the oil companies were tax exempt, gas would be a lot cheaper. WE are paying the tax on gasoline.

when did the democrats write "most of the tax code"?

i'm sure you have a link to that, right?

of course corporations pay taxes. they're supposed to pay about 35%

and even if they wrote "most" of it, which i highly doubt, what parts affect corporations and who "wrote" them and voted on them?

and does i really matter when corporations offshore money, jobs and profits?

please figure out what you're talking about before you post.

we do not have a VAT. We have INCOME taxes.

Jeez Jillian, is it so hard for you to realize that ALL corporations adjust their prices to pay the cost of corporate taxation? It is a "cost of doing business", and it is paid by the consumers who purchase that corporation's products.

So would you like to eliminate the corporate tax and proportionately increase your personal income taxes to make up for the net loss in revenue?

 

[NYcarbineer]

The push behind getting this story out came from the Citizens for Tax Justice,

which happens to be considered a liberal leaning organization.

So much for that aspect of the right's spin on this story...

 

[NYcarbineer]

I repeat---the democrats in congress wrote most of the tax code

corporations do not pay taxes, consumers pay taxes in the price of the product. If the oil companies were tax exempt, gas would be a lot cheaper. WE are paying the tax on gasoline.

when did the democrats write "most of the tax code"?

i'm sure you have a link to that, right?

of course corporations pay taxes. they're supposed to pay about 35%

and even if they wrote "most" of it, which i highly doubt, what parts affect corporations and who "wrote" them and voted on them?

and does i really matter when corporations offshore money, jobs and profits?

please figure out what you're talking about before you post.

we do not have a VAT. We have INCOME taxes.

Jeez Jillian, is it so hard for you to realize that ALL corporations adjust their prices to pay the cost of corporate taxation? It is a "cost of doing business", and it is paid by the consumers who purchase that corporation's products.

If that were true, it would make the corporate tax effectively a national sales tax;

something that conservatives otherwise widely advocate for.

You should be happy then.

 

[NYcarbineer]

are you claiming that no dems voted for the bill that set this up?

My point was larger than this single issue. you libs always attack the tax code that allows deductions for corporations, but you never acknowledge that the dems have controlled the body that writes the tax code for all but a few of the last 75 years.

I'll repeat the question:

Who controlled Congress in 2006?

the republicans, are you claiming that no dems voted for the bill?

Not that you or anyone else would care, but here's how the tax break works:

http://ctj.org/pdf/facebookexcess.pdf

 

[Redfish]

when did the democrats write "most of the tax code"?

i'm sure you have a link to that, right?

of course corporations pay taxes. they're supposed to pay about 35%

and even if they wrote "most" of it, which i highly doubt, what parts affect corporations and who "wrote" them and voted on them?

and does i really matter when corporations offshore money, jobs and profits?

please figure out what you're talking about before you post.

we do not have a VAT. We have INCOME taxes.

Jeez Jillian, is it so hard for you to realize that ALL corporations adjust their prices to pay the cost of corporate taxation? It is a "cost of doing business", and it is paid by the consumers who purchase that corporation's products.

If that were true, it would make the corporate tax effectively a national sales tax;

something that conservatives otherwise widely advocate for.

You should be happy then.

thats exactly what it is.