francoHFW
Diamond Member
- Sep 5, 2011
- 79,271
- 9,399
you dupes will never learn. Every time the GOP gets in there is a huge corrupt bubble and bust. The Democrats put those things in and the GOP corrupts them when they get in.... Wake up and smell the coffee. Look who is in prison and going there in the real world. Not your silly imaginary scandals that 90% of the world,all respected media and law enforcement think are absolute garbage.... And there is no conspiracy, nut job.Legal tax breaks known in the real world as corrupt GOP policy,....Those companies are getting away with murder thanks to Republican policy.Actually you are a brainwashed functional moron totally misinformed.
Earlier this year, ITEP reported Netflix and Amazon paid no federal taxes. Othercompanies on this list include Chevron, Delta Airlines, Eli Lilly, General Motors, Gannett, Goodyear Tire and Rubber, Halliburton, IBM, Jetblue Airways, Principal Financial, Salesforce.com, US Steel, and Whirlpool.Apr 11, 2019
60 Fortune 500 Companies Avoided All Federal Income Tax in 2018 ...
Thanks for the link....
These companies avoided taxes by employing a variety of legal tax breaks. Accelerated depreciation allows companies to write off the cost of their investments much faster than these investments wear out. This break accounted for hundreds of millions in tax write-offs. Chevron alone, for example, reported $290 million in accelerated depreciation, and Halliburton reported $320 million.
If a company makes a profit of $1 billion, before depreciation, and has $1 billion in depreciation, their profit is zero.
You've got to be pretty stupid to point to that company and say, "No fair, $1 billion in profit, zero taxes"
Stock options provide a dubious tax break that allows corporations to write off expenses far in excess of the cost they report to investors. Amazon, Netflix, Salesforce.com and a number of other companies used this tax break to write off millions.
If they have an employee who exercises $1 million in options, the employee pays taxes on the $1 million, the corporation deducts $1 million. The same as if they paid the employee $1 million in salary.
But thanks for the laughs.
Thanks for the laughs.
Yeah, no Democrat voted to allow depreciation or writing off employee expenses. Moron. LOL!