Unlike the rest of us, most U.S. corporations and foreign companies doing business in the United States pay no federal income tax, according to a new report from Congress. The study by the Government Accountability Office, expected to be released Tuesday, said two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, and about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.


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where's gunny, allie, charles, jreeves? All the people who think Corporations already pay too much in taxes. HA!!!

Yeah, saw this on the news earlier.

Lot's of kickbackin' going on!

wow!

What is even more funny, is that the report does not say how many companies made a profit to pay the tax and avoided it through credits or other means. Nor did the report say how many of the companies were S-corps and the federal tax would than be paid on personal income tax.

The company I work for does not pay income tax because we lose money. We have a high depreciation and interest expense which results in a net loss for us.

Maybe this is a point for going towards a flat tax or national sales tax.

Keep in mind this is during the time they said that Companies couldn't afford to do business in America because they are being overtaxed.

And McCain wants to give corporations more tax breaks and make Bush's bullshit tax breaks to the top 1% perminant.

The GOP will lie to us ruthlessly until November. Don't believe a word they say. Just go by how they did for the last 8 years.

I'm no expert to even go there. All I know is I hear people telling me how much the oil companies pay in taxes. I bet they don't pay shit when it is all said and done.

The GOP passed all sorts of pro corporation laws from 2000-2006. Giving tax breaks for companies going overseas, letting companies tap into their pension funds, etc. So much has happened, I forgot probably 80% of what they did. But it all lead up to where we are now.

If we don't run them out of office, they will continue to favor corporations over labor and we will continue to shoulder way too much of the tax burden.

The rich pay a lot in taxes? BOO FREAKIN HOO!!! So do I. So who should get a break, me or the rich? Me!!!!

8 billion from the Oil Companies on the Gulf coast/East Coast oil and gas wells. Ya they don't pay anything.

Further if a company LOSES money what exactly would their tax burden be?

__________________
The fact that an opinion has been widely held is no evidence whatever that it is not utterly absurd. Indeed in view of the silliness of the majority of mankind, a widespread belief is more likely to be foolish than sensible.

-Bertrand Russell

Facts are stubborn things, but statistics are more pliable

-Laurence J. Peters

I never said that you had no right to have an opinion. I just said that it was, in fact, worth nothing.

-Maineman ( on 12 June 2007)

I run a corporation which doesn't pay any taxes.

I must have mislaid my secret Swis bank account book, though cause we barely have a pot to piss in or a window to throuw it out of.

These bumper sticker headlines are dazzling starting points for discussion, but they're often quite misleading, too.

Most corporations in America are subchapter 8 small businesses.

When you take out their real cost of doing business, many of these folks are making piss-all in profits.

But

According to the report:

Shifting income to low tax countries?

I have a hard time believing 25% of our largest companies are S-corps.

Study says most corporations pay no U.S. income taxes | Markets | Bonds News | Reuters

So you want to privatize the profits and socialize the losses?

I think under your equation, it would be socialize the profits & privatize the losses.....

Anyways, now you know that you are full of shit. Corporations are not paying their fair share of taxes. They can show you all their fuzzy math, but in the end, Corporations are not paying enough in taxes. That means you are shouldering more of the burden, dummy.

here is some further stats for those that like some data instead of words ('census.gov/csd/susb/2005/usst05.xls')

Basically, about 92% of firms and establishments have less than 500 people and comprise half of the employment. Only 8% comprise Firms and establishments that have 500+ people and make up half of the employement. There were roughly 13.5 million firms and establishments in the data. this is to give perspective when you see that two-thirds don't pay
federal income tax as a company. When you think of a corporation, are you thinking of one that has 10,000+ employees or one that has 50 employees?

As you looked through Exxon's 10-Q, you probably noticed that Exxon paid 19.8 billion in taxes or 46.8% of income before taxes which is up from the 14.5 Billion or 42.5% of income before taxes that was paid in 2007 through the first six months.

What tax breaks did exxon have that resulted in an increase in the percent of taxes to be paid?

Your point about who should get the tax break "me" is valid for almost everyone. Almost everyone would want to have a tax break. When you vote, you vote what is best for you. If someone promises to give a tax break to you, you more than likely will vote for it.

hey dumbass, if you raise corporate taxes, guess who they pass the cost to? That's right, you & I.....so our tax burden would increase.....you liberals can be so stupid when it comes to economics & taxation.....