Should we make the corporate tax rate 0%?

[OnePercenter]

You need a new calculator. 8/25.7 isn't 1.7%.

So out of curiousity, exactly how much do you think the poor people who shop at Walmart should pay for Walmart's corporate taxes exactly? You realize it's built into the price of the product, just like every other cost Walmart has. Your being a "onepercenter" and all you must know basic business principles...

You realize this "onepercenter" guy is the one who thinks he got away with an effective tax of less than 2% on over a million in revenue right? He's the one that thinks he should have been forced to pay corporate taxes on revenue not profit. But now it's starting to look like the lie was based on some dumb ass libtard article about Walmart. Apparently "onepercenter" thinks he wall-mart.

Here ya go!

Effective Tax Rate Definition | Investopedia

You didn't read that, did you? It said you are wrong...

"For corporations, the effective tax rate is computed by dividing total tax expenses by the firm's earnings before taxes. "

Apparently you think "earnings" refer to revenue, it actually refers to profit. You just proved the calculation showing that you're wrong to be correct.

Liberalism, stupidity you can't even make up.

You're obviously not a "onepercenter" unless you inherited the money.

Here ya go!

Effective Tax Rate Definition | Investopedia

You didn't read that, did you? It said you are wrong...

"For corporations, the effective tax rate is computed by dividing total tax expenses by the firm's earnings before taxes. "

Apparently you think "earnings" refer to revenue, it actually refers to profit. You just proved the calculation showing that you're wrong to be correct.

Liberalism, stupidity you can't even make up.

You're obviously not a "onepercenter" unless you inherited the money.

Ayup. The guy's completely clueless. Thinks he's supposed to pay income taxes on his basis and deductible expenses. Guy wants to pay corporate income tax on his gasoline... ROFL talk about burning cash.

My original post was comparing corporations to individuals. The only way to do this truthfully is total income/revenue.

http://www.usmessageboard.com/8633910-post445.html

Thank for playing!

 

[KevinWestern]

My original post was comparing corporations to individuals. The only way to do this truthfully is total income/revenue.

http://www.usmessageboard.com/8633910-post445.html

Thank for playing!

Come on man, we're trying to have a rational discussion here and you're asking people to not accept the legal/standard method of calculating an effective tax rate (which puts Walmart at about 30%) and instead only accept your method of calculating the number? Because you said so?

That makes no sense at all.

 

[Mac1958]

.

Wal Mart's effective tax rate, 2012, over 30%:

Wal-mart Stores (WMT) Effective Tax Rate by Quarter, Profitability Trends and Ranking, Fundamental Ratios - CSIMarket

.

 

[kaz]

My original post was comparing corporations to individuals. The only way to do this truthfully is total income/revenue.

And "redefining" the word "earnings" to do it and presenting a link as if that proved your point?

So do you support the Fair Tax then?

 

[Uncensored2008]

.

Wal Mart's effective tax rate, 2012, over 30%:

Wal-mart Stores (WMT) Effective Tax Rate by Quarter, Profitability Trends and Ranking, Fundamental Ratios - CSIMarket

.

Yeah, it's 31%

The idiot onepercenter is just too ignorant to grasp that operating costs are removed before taxes are calculated.

Sitting in moms basement smoking dope didn't give him a sense of how business operates.

 

[Uncensored2008]

My original post was comparing corporations to individuals. The only way to do this truthfully is total income/revenue.

http://www.usmessageboard.com/8633910-post445.html

Thank for playing!

Why don't you put down your bong, get out of mom's basement, go down to the local community college, and take an introduction to business class?

Seriously, try gaining a hint of knowledge as to how this all really works - it might change your whole perspective on life.

 

[RKMBrown]

.

Wal Mart's effective tax rate, 2012, over 30%:

Wal-mart Stores (WMT) Effective Tax Rate by Quarter, Profitability Trends and Ranking, Fundamental Ratios - CSIMarket

.

Yeah, it's 31%

The idiot onepercenter is just too ignorant to grasp that operating costs are removed before taxes are calculated.

Sitting in moms basement smoking dope didn't give him a sense of how business operates.

Unfortunately, his ignorance is not unique among voters. The democraps could tell these folks up is down and they would fall on their asses again and again trying to prove they are right.

 

[OnePercenter]

My original post was comparing corporations to individuals. The only way to do this truthfully is total income/revenue.

http://www.usmessageboard.com/8633910-post445.html

Thank for playing!

Come on man, we're trying to have a rational discussion here and you're asking people to not accept the legal/standard method of calculating an effective tax rate (which puts Walmart at about 30%) and instead only accept your method of calculating the number? Because you said so?

That makes no sense at all.

The fact remain that using that using the same (people) rules Walmart paid 1.7% and people paid 16%-18% effective tax. Aren't corporations people?

 

[OnePercenter]

My original post was comparing corporations to individuals. The only way to do this truthfully is total income/revenue.

And "redefining" the word "earnings" to do it and presenting a link as if that proved your point?

So do you support the Fair Tax then?

Sales/Revenue 469.16B

WMT Annual Income Statement - Wal-Mart Stores Inc. Annual Financials

 

[OnePercenter]

My original post was comparing corporations to individuals. The only way to do this truthfully is total income/revenue.

And "redefining" the word "earnings" to do it and presenting a link as if that proved your point?

So do you support the Fair Tax then?

Too late. Republicans tweaked the advantage to the rich years ago.

 

[KevinWestern]

The fact remain that using that using the same (people) rules Walmart paid 1.7% and people paid 16%-18% effective tax. Aren't corporations people?

Ok man, I don't mean to be rude but you seriously need to educate yourself. Corporations (in simple terms) are taxed on profits and NOT total revenue. And for your information, is that this is very, very similar to how we tax individuals...

When i go to work and make $100 that day, generally speaking I don't have $90 in operating expenses to get me there. If I did, I'd probably find a different job because it wouldn't be worthwhile. Therefore, the $100 is basically 100% profit. As you may have noticed, the gov't often provides tax free travel options for commuters (ie treating them like "operating expenses").

When corporations earn $100,000 - for instance - they usually will of initially dished out $90,000 to get there (in wages, COGS, etc). Therefore the taxable income comes out to $100,000 - $90,000 = $10,000. That $10,000 is what they earned just as the $100 is what I earned.

It's perfectly logical, dude.

If we were to tax businesses on TOTAL REVENUE, we would put a ridiculous amount of companies out of business. It's a preposterous and ridiculous thing to suggest. Again, not to be rude but you need to educate yourself before you go spouting out suggestions.

You're arguing to treat corporations like people when we already ARE treating them like people when it comes to taxation.


.

 

[OnePercenter]

You really don't have a clue what you are talking about.

By no stretch of accounting do you pay taxes on any money twice. You may have a business, but you either don't do your own accounting and taxes or you simply are clueless as to what you are doing.

He is full of shit. He hides behind a "corporation" where it helps him. Then whines when he has to pay taxes on the money he takes out of that corporation

Breaks my heart really. Poor people should have as many options

Dude, you want MORE options? WTF. Half of taxpayers pay NO taxes. If you're "poor" and work you MAKE money because you get "refundable tax credits." Exactly how much money do you want the IRS to pay you so you feel you're "paying" your fair share?

Because they don't make enough money, but they do pay taxes; Payroll taxes, state income taxes, property taxes, sales taxes, and fees of various kinds.

 

[OnePercenter]

The fact remain that using that using the same (people) rules Walmart paid 1.7% and people paid 16%-18% effective tax. Aren't corporations people?

Ok man, I don't mean to be rude but you seriously need to educate yourself. Corporations (in simple terms) are taxed on profits and NOT total revenue. And for your information, is that this is very, very similar to how we tax individuals...

When i go to work and make $100 that day, generally speaking I don't have $90 in operating expenses to get me there. If I did, I'd probably find a different job because it wouldn't be worthwhile. Therefore, the $100 is basically 100% profit. As you may have noticed, the gov't often provides tax free travel options for commuters (ie treating them like "operating expenses").

When corporations earn $100,000 - for instance - they usually will of initially dished out $90,000 to get there (in wages, COGS, etc). Therefore the taxable income comes out to $100,000 - $90,000 = $10,000. That $10,000 is what they earned just as the $100 is what I earned.

It's perfectly logical, dude.

If we were to tax businesses on TOTAL REVENUE, we would put a ridiculous amount of companies out of business. It's a preposterous and ridiculous thing to suggest. Again, not to be rude but you need to educate yourself before you go spouting out suggestions.

I'm not writing of paying taxes, I'm comparing two tax entities apples to apples using individual taxpayers rules.

 

[OnePercenter]

The fact remain that using that using the same (people) rules Walmart paid 1.7% and people paid 16%-18% effective tax. Aren't corporations people?

Ok man, I don't mean to be rude but you seriously need to educate yourself. Corporations (in simple terms) are taxed on profits and NOT total revenue. And for your information, is that this is very, very similar to how we tax individuals...

When i go to work and make $100 that day, generally speaking I don't have $90 in operating expenses to get me there. If I did, I'd probably find a different job because it wouldn't be worthwhile. Therefore, the $100 is basically 100% profit. As you may have noticed, the gov't often provides tax free travel options for commuters (ie treating them like "operating expenses").

When corporations earn $100,000 - for instance - they usually will of initially dished out $90,000 to get there (in wages, COGS, etc). Therefore the taxable income comes out to $100,000 - $90,000 = $10,000. That $10,000 is what they earned just as the $100 is what I earned.

It's perfectly logical, dude.

If we were to tax businesses on TOTAL REVENUE, we would put a ridiculous amount of companies out of business. It's a preposterous and ridiculous thing to suggest. Again, not to be rude but you need to educate yourself before you go spouting out suggestions.

You're arguing to treat corporations like people when we already ARE treating them like people when it comes to taxation. .

People have 100% deductions?

 

[KevinWestern]

I'm not writing of paying taxes, I'm comparing two tax entities apples to apples using individual taxpayers rules.

But not sure I follow..

Corporations are taxed on income the same way people are. Profit = Net income. Right?

 

[KevinWestern]

People have 100% deductions?

I don't follow.

There are some slight differences (obviously) between the way a business operates to earn money and the way a person operates to earn money. Most people's largest operating expense (to earn money) is travel. Here in Chicago I'm allowed to pay for my CTA train pass pre-tax, and for significant travel usually the company will pick up the tab. Most of what I earn in a day is 100% profit, meaning I didn't have to put up anything initially to earn it.. make sense?

 

[OnePercenter]

I'm not writing of paying taxes, I'm comparing two tax entities apples to apples using individual taxpayers rules.

But not sure I follow..

Corporations are taxed on income the same way people are. Right?

Yes, but deductions are much more aggressive, ie; 100% vs a much smaller percentage. When comparing an individual vs a corporation using the individuals rules are the most fair.

 

[KevinWestern]

I'm not writing of paying taxes, I'm comparing two tax entities apples to apples using individual taxpayers rules.

But not sure I follow..

Corporations are taxed on income the same way people are. Right?

Yes, but deductions are much more aggressive, ie; 100% vs a much smaller percentage. When comparing an individual vs a corporation using the individuals rules are the most fair.

What though, do you mean by individual rules? What are you proposing?

The key here is that you need to subtract operating expenses from revenue before we begin the discussion about corporate taxes. Sure, there are additional deductions and what not that we probably can tighten up on, but at the end of the day you NEED to deduct wages, COGS, etc from revenue before discussing corporate taxes...

...you're aligned, right?

 

[OnePercenter]

People have 100% deductions?

I don't follow.

There are some slight differences (obviously) between the way a business operates to earn money and the way a person operates to earn money. Most people's largest operating expense (to earn money) is travel. Here in Chicago I'm allowed to pay for my CTA train pass pre-tax, and for significant travel usually the company will pick up the tab. Most of what I earn in a day is 100% profit, meaning I didn't have to put up anything initially to earn it.. make sense?

Great, but noting to do with comparing individual vs corporate effective rates.

 

[OnePercenter]

But not sure I follow..

Corporations are taxed on income the same way people are. Right?

Yes, but deductions are much more aggressive, ie; 100% vs a much smaller percentage. When comparing an individual vs a corporation using the individuals rules are the most fair.

What though, do you mean by individual rules? What are you proposing?

The key here is that you need to subtract operating expenses from revenue before we begin the discussion about corporate taxes. Sure, there are additional deductions and what not that we probably can tighten up on, but at the end of the day you NEED to deduct wages, COGS, etc from revenue before discussing corporate taxes...

...you're aligned, right?

I'm not proposing anything. I've already posted a link defining effective rates. I'm comparing individual (a person or persons) vs a corporation.