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08-21-2008, 12:09 AM
|  | Registered User | | Join Date: Aug 2008
Posts: 191
Rep Power: 2 | | | Do Corporations Really Pay No Taxes?
Do Corporations Really Pay No Taxes?
By Steven Malanga RealClearMarkets - Articles - Do Corporations Really Pay No Taxes?
-snip- Quote: |
And that should help explain what’s wrong with the press’s coverage of a Government Accountability Office study released last week, which reported that two-thirds of American corporations paid no taxes in 2005—including a quarter of big businesses. The report, commissioned by several labor-friendly Democratic Senators who pretty much knew based on previous studies what it would say, sparked a lot of manufactured outrage in political circles and produced a series of misleading stories, like one by the Associated Press that ran in dozens of newspapers under sensationalistic headlines like “Corporations Pay No Taxes.”
| It's not cool to paste the whole article (I don't think) so I'll just mention that the proof is in the pudding and it's well worth reading the entire (short) link to have the fullest understanding possible. Clearly this is a fairly thorough debunking of a popular thread here of late.
Warning for lefties... the link contains numbers and facts and suchlike.  |
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08-21-2008, 06:28 AM
| | Registered User | | Join Date: Jun 2008 Location: Maine
Posts: 5,993
Rep Power: 39 | | | The question isn't do they pay taxes, because of course many corporations pay huge amounts of taxes.
The question really seems to be are they paying a FAIR SHARE of their taxes given the enormous amount of money they're making? |
08-21-2008, 07:34 AM
| | crack baby | | Join Date: Feb 2008
Posts: 11,272
Rep Power: 204 | | | What a disingenuous article. I googled “Corporations Pay No Taxes,” and came up with no main stream news sources that ever ran such a headline, as was claimed in the article.
Real Clear Markets is a sham.
Are you a McCain troll, Tristan? |
08-21-2008, 07:43 AM
| | Beavis | | Join Date: Jun 2008 Location: Michigan
Posts: 4,687
Rep Power: 12 | | Quote:
Originally Posted by editec  The question isn't do they pay taxes, because of course many corporations pay huge amounts of taxes.
The question really seems to be are they paying a FAIR SHARE of their taxes given the enormous amount of money they're making? | Sure they pay out a lot of taxes, but what are they getting back? I work with taxes. Tax economics of charitable giving is one issue I work with.
There are a million tax write offs that weren't there before. For example, if you have a delivery truck and every year it looses value. Now you can write that off.
So there are a million write offs and if you have good accountants, and the big corporations always do, then you can write everything off and technically, they are paying NOTHING or NEXT TO IT. |
08-21-2008, 08:58 AM
| | Registered User | | Join Date: Jun 2008 Location: Maine
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Originally Posted by sealybobo Sure they pay out a lot of taxes, but what are they getting back? I work with taxes. Tax economics of charitable giving is one issue I work with.
There are a million tax write offs that weren't there before. For example, if you have a delivery truck and every year it looses value. Now you can write that off.
So there are a million write offs and if you have good accountants, and the big corporations always do, then you can write everything off and technically, they are paying NOTHING or NEXT TO IT. | Sort of my point, Sealy. |
08-21-2008, 09:26 AM
| | Beavis | | Join Date: Jun 2008 Location: Michigan
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Quote:
Originally Posted by editec Sort of my point, Sealy. | I know. I was agreeing with you. I'd rather say it to you, someone who listens and understands, than tell it to someone who doesn't get it. |
08-21-2008, 09:32 AM
|  | Dejected conservative. | | Join Date: Jun 2008 Location: Michigan, USA
Posts: 2,640
Rep Power: 13 | | Quote:
Originally Posted by Ravi Are you a McCain troll, Tristan? | Kinda like how you are a democrat Troll?
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"Whenever a man has cast a longing eye on offices, a rottenness begins in his conduct."
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"Dependence begets subservience and venality, suffocates the germ of virtue, and prepares fit tools for the designs of ambition."
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08-21-2008, 09:39 AM
| | Born Free | | Join Date: Apr 2008 Location: u.s.a.
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Rep Power: 43 | | Quote:
Originally Posted by sealybobo For example, if you have a delivery truck and every year it looses value. Now you can write that off. | it's called depreciation and it's nothing new...vehicles are depreciable assets, equipment is depreciable, real estate is depreciable, etc...
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08-21-2008, 09:54 AM
| | crack baby | | Join Date: Feb 2008
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Originally Posted by Charles_Main Kinda like how you are a democrat Troll? | When have I posted anything suspect like Tristan just did?
I'll wait. |
08-21-2008, 10:04 AM
| | Beavis | | Join Date: Jun 2008 Location: Michigan
Posts: 4,687
Rep Power: 12 | | Quote:
Originally Posted by Glori.B it's called depreciation and it's nothing new...vehicles are depreciable assets, equipment is depreciable, real estate is depreciable, etc... | I just gave that as one small example because I knew you would all understand that kind of write off.
What I am telling you is that they passed a bunch of new laws that gave corporations even more tax write offs.
economic stimulus act, energy act, american jobs creation act, pension protection act, working families tax relief act, tax relief & healthcare act, |
08-21-2008, 10:05 AM
| | Born Free | | Join Date: Apr 2008 Location: u.s.a.
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Rep Power: 43 | | Quote:
Originally Posted by Ravi When have I posted anything suspect like Tristan just did?
I'll wait. | oh, i think you definitely qualify as a dem bot! 
touche` 
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08-21-2008, 11:33 AM
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Originally Posted by editec The question isn't do they pay taxes, because of course many corporations pay huge amounts of taxes.
The question really seems to be are they paying a FAIR SHARE of their taxes given the enormous amount of money they're making? | How does making a lot of money equate to paying more taxes is fair?
If we want to talk about what's fair it would seem the ultimate way to be fair would be to come up with something that requires people to essentially pay in taxes what they use in government provided services, wouldn't it?
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It's time for another Ronny in the White House. |
08-21-2008, 11:38 AM
| | Registered User | | Join Date: Jan 2004
Posts: 2,831
Rep Power: 39 | | Quote:
Originally Posted by sealybobo Sure they pay out a lot of taxes, but what are they getting back? I work with taxes. Tax economics of charitable giving is one issue I work with.
There are a million tax write offs that weren't there before. For example, if you have a delivery truck and every year it looses value. Now you can write that off. | The tax is based on the value of the NEW product. What sense does it make to pay a tax rate for NEW item that isn't new anymore?
Ultimately though I don't like write offs, not because I think they are sneaky loopholes or think they should pay more. It just adds more complications to an already complicated system
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It's time for another Ronny in the White House.
Last edited by Bern80; 08-21-2008 at 11:46 AM.
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08-21-2008, 12:57 PM
| | Beavis | | Join Date: Jun 2008 Location: Michigan
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Quote:
Originally Posted by Bern80 The tax is based on the value of the NEW product. What sense does it make to pay a tax rate for NEW item that isn't new anymore?
Ultimately though I don't like write offs, not because I think they are sneaky loopholes or think they should pay more. It just adds more complications to an already complicated system | Sure does. |
08-21-2008, 07:09 PM
| | Registered User | | Join Date: Aug 2008
Posts: 191
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Originally Posted by Ravi When have I posted anything suspect like Tristan just did?
I'll wait. |
"Suspect", LOL. Quote: |
The politics behind the GAO report are transparent—to undermine the momentum that’s building to cut corporate tax rates. As I wrote several weeks ago (“In the U.S., Selectively Applied Capitalism,” July 28), the U.S. has the second highest corporate tax rate among 30 countries in the Organisation of Economic Co-Operation and Development. That matters because, as economists for the OECD recently concluded, the corporate tax is the most harmful to economic growth of all the levies most commonly used by member nations. That’s why GOP presidential nominee John McCain favors lowering it, but so does the powerful Democratic Chairmen of the House Ways & Means Committee, Charlie Rangel. The Democratic presidential nominee, Barack Obama, has also said in newspaper interviews that he would consider cutting the corporate tax, but he hasn’t made that an official part of his platform.
| In this case I agree with McCain, Charlie Rangel and maybe Obama. Not sure what kind of troll that is exactly. | | Thread Tools | | | | Display Modes |  Linear Mode | 
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