Skull Pilot
Diamond Member
- Nov 17, 2007
- 45,446
- 6,163
How US Tax Policy Encourages Outrageous CEO Compensation27 giant profitable companies paid no taxesdear brain-2, corporate taxes are highest in world. All we need is to eliminate them to bring back 10 million jobs.
The largest corporations pay 0 in taxes.
Bullshit.
Take United Continental, which reported a $3.2 billion income tax credit in 2015 despite reporting earnings before taxes of $4.2 billion. Accounting rules allow the airline to offset taxes due with valuation allowances resulting from losses in past years. During 2015, these allowances amounted to $4.7 billion which erased the company's $1.5 billion tax bill based on its normal corporate tax rate.
That's so weird, a company is allowed to offset income with losses.
So if you lose $1 million this year and make $1 million next year, you won't pay taxes.
Only a moron thinks that means big companies pay no taxes.
What it means is companies pay taxes when they're profitable and don't when they're not.
so tell me why do you think what a CEO makes has any effect on what you make?