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Are you contesting any of the "facts" presented?
Is it accurate to say Exxon Mobile payed $15 billion in taxes in 2009 and not a single cent made its way to the US Treasury?
Any ideas on where to start looking?
Are you contesting any of the "facts" presented?
No, I am not contesting the "facts" because no facts were presented. See my reply in post #97. Just half truths which you would know if you did your own research and stopped letting other people think for you like I told you.
Is it accurate to say Exxon Mobile payed $15 billion in taxes in 2009 and not a single cent made its way to the US Treasury?
No, it is not accurate to say that.
Any ideas on where to start looking?
For one, the linked article that Think Progress falsely quoted, which took me all of two minutes to read and catch the deception, something you were too lazy to do.
It's instructive to examine the behavior of the rich during the last two years of our Great Recession if you want to understand how cost is socialized and profit privatized by Republicans AND Democrats in times of manufactured crisis:I think exxon valdez paid like 27 billion dollars in federal taxes in 2008 and years before.
"EXXON-MOBIL: The oil giant uses offshore subsidiaries in the Caribbean to avoid paying taxes in the United States.
"Although Exxon-Mobil paid $15 billion in taxes in 2009, not a penny of those taxes went to the American Treasury.
"This was the same year that the company overtook Wal-Mart in the Fortune 500. Meanwhile the total compensation of Exxon-Mobils CEO the same year was over $29,000,000."
Excellent news. Thank you for that uplifting story. That is a lot of money the Obama/Pelosi/Reid junta won't get their greedy hands on...
I said in some cases dividends are deductible by the corporation. For federal tax purposes, a corporation may generally take a dividends-received deduction (DRD) on its tax return equal to 70% of the dividend income it receives from a domestic corporation. Qualified dividends are partially taxed since they are taxed at the capital gains rate.Dividends are taxed, you're just wrong on that. Dividends are one way corporations distribute money to shareholders and they are not deductible ever, sorry. You may be thinking of dividends from preferred shares, but they are really bonds, not dividends. Bonds are deductible by the company. But dividends aren't. Either that or you just don't know what you're talking about. The rest is silly.Not really. In some cases dividends are deductible by the corporation which means they are not double taxed. When you sell your interest in a corporation you pay capital gains tax which is the difference between your cost basis and your net proceeds from the sale. There is no direct relationship relationship with corporate taxes paid. Whether you pay sales tax or not depends on where you live and how you spend the money.It's a start. 100% shouldn't pay corporate income tax. It's double taxation. Investors pay tax again when they take the money out of the corporation. And again when they spend it. It's triple taxation...
It's instructive to examine the behavior of the rich during the last two years of our Great Recession if you want to understand how cost is socialized and profit privatized by Republicans AND Democrats in times of manufactured crisis:
"EXXON-MOBIL: The oil giant uses offshore subsidiaries in the Caribbean to avoid paying taxes in the United States.
"Although Exxon-Mobil paid $15 billion in taxes in 2009, not a penny of those taxes went to the American Treasury.
"This was the same year that the company overtook Wal-Mart in the Fortune 500. Meanwhile the total compensation of Exxon-Mobils CEO the same year was over $29,000,000."
Excellent news. Thank you for that uplifting story. That is a lot of money the Obama/Pelosi/Reid junta won't get their greedy hands on...
Junta? What Junta? They won elections.
And cheering the reduction of revenue used to treat the wounds of our Veterans from Afghanistan and Iraq in order to line the pockets of those who use their income to party in the Caribbean while they piss on their workers isn't very patriotic.
Saying they get a tax reduction doesn't contradict that they are taxed. You're talking about how it's calculated. But even in the one case you named where a company owns a company, you still only supported the tax is reduced not eliminated. I didn't address how it's taxed, I just said it was.I said in some cases dividends are deductible by the corporation. For federal tax purposes, a corporation may generally take a dividends-received deduction (DRD) on its tax return equal to 70% of the dividend income it receives from a domestic corporationDividends are taxed, you're just wrong on that. Dividends are one way corporations distribute money to shareholders and they are not deductible ever, sorry. You may be thinking of dividends from preferred shares, but they are really bonds, not dividends. Bonds are deductible by the company. But dividends aren't. Either that or you just don't know what you're talking about. The rest is silly.Not really. In some cases dividends are deductible by the corporation which means they are not double taxed. When you sell your interest in a corporation you pay capital gains tax which is the difference between your cost basis and your net proceeds from the sale. There is no direct relationship relationship with corporate taxes paid. Whether you pay sales tax or not depends on where you live and how you spend the money.
And yet I listed the three times it's taxed:So yes, money is taxed more than once, but not triple taxed. That's an exaggeration.
Are you contesting any of the "facts" presented?
No, I am not contesting the "facts" because no facts were presented. See my reply in post #97. Just half truths which you would know if you did your own research and stopped letting other people think for you like I told you.
No, it is not accurate to say that.
Any ideas on where to start looking?
For one, the linked article that Think Progress falsely quoted, which took me all of two minutes to read and catch the deception, something you were too lazy to do.
Why is it not accurate to say that? What did I miss? Did Exxon that year pay federal corporate income taxes or other federal taxes that went to the u.s. treasury?
No, I am not contesting the "facts" because no facts were presented. See my reply in post #97. Just half truths which you would know if you did your own research and stopped letting other people think for you like I told you.
No, it is not accurate to say that.
For one, the linked article that Think Progress falsely quoted, which took me all of two minutes to read and catch the deception, something you were too lazy to do.
Why is it not accurate to say that? What did I miss? Did Exxon that year pay federal corporate income taxes or other federal taxes that went to the u.s. treasury?
Judging from the Forbes interview, we don't know. It doesn't conclude one or the other, so yes, it is inaccurate to say they didn't pay any taxes to the federal government.
Disagree, with a qualification.I think it should be a lower, flat tax for all corporations....with no loopholes.
all corporations pay the same flat rate on earnings....
We would probably collect more in corporate taxes that way, and it would be a level playing field for all corporations, global and domestic.
All taxes levied should be for a specific enumerated power of the feds to spend. For example, fuel taxes to pay for roads and bridges.
No, I am not contesting the "facts" because no facts were presented. See my reply in post #97. Just half truths which you would know if you did your own research and stopped letting other people think for you like I told you.
No, it is not accurate to say that.
For one, the linked article that Think Progress falsely quoted, which took me all of two minutes to read and catch the deception, something you were too lazy to do.
Why is it not accurate to say that? What did I miss? Did Exxon that year pay federal corporate income taxes or other federal taxes that went to the u.s. treasury?
Judging from the Forbes interview, we don't know. It doesn't conclude one or the other, so yes, it is inaccurate to say they didn't pay any taxes to the federal government.
Exxon Mobil: $15.1 billion
U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion
Exxon paid the most taxes last year of any U.S. company, by far -- but not a cent went to the IRS for income taxes.Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com
Why is it not accurate to say that? What did I miss? Did Exxon that year pay federal corporate income taxes or other federal taxes that went to the u.s. treasury?
Judging from the Forbes interview, we don't know. It doesn't conclude one or the other, so yes, it is inaccurate to say they didn't pay any taxes to the federal government.
well, here is a CNN article that says they paid ZERO in federal corporate income taxes....actually, the Federal government PAID EXXON money....156 million paid by us tax payers...that's just bull crap.
Exxon Mobil: $15.1 billion
U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion
Exxon paid the most taxes last year of any U.S. company, by far -- but not a cent went to the IRS for income taxes.Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com
so the 15.2 billion they are claiming to have paid is INTERNATIONAL and we, the fed and state got crapola?
our corporate tax structure MUST BE REFORMED.
Why is it not accurate to say that? What did I miss? Did Exxon that year pay federal corporate income taxes or other federal taxes that went to the u.s. treasury?
Judging from the Forbes interview, we don't know. It doesn't conclude one or the other, so yes, it is inaccurate to say they didn't pay any taxes to the federal government.
well, here is a CNN article that says they paid ZERO in federal corporate income taxes....actually, the Federal government PAID EXXON money....156 million paid by us tax payers...that's just bull crap.
Exxon Mobil: $15.1 billion
U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion
Exxon paid the most taxes last year of any U.S. company, by far -- but not a cent went to the IRS for income taxes.Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com
so the 15.2 billion they are claiming to have paid is INTERNATIONAL and we, the fed and state got crapola?
our corporate tax structure MUST BE REFORMED.
Judging from the Forbes interview, we don't know. It doesn't conclude one or the other, so yes, it is inaccurate to say they didn't pay any taxes to the federal government.
well, here is a CNN article that says they paid ZERO in federal corporate income taxes....actually, the Federal government PAID EXXON money....156 million paid by us tax payers...that's just bull crap.
Exxon Mobil: $15.1 billion
U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion
Exxon paid the most taxes last year of any U.S. company, by far -- but not a cent went to the IRS for income taxes.Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com
so the 15.2 billion they are claiming to have paid is INTERNATIONAL and we, the fed and state got crapola?
our corporate tax structure MUST BE REFORMED.
You're wrong. Sorry, get over it.
PolitiFact | Bernie Sanders says ExxonMobil paid no taxes in 2009, but that's inaccurate
And the states and fed did not get nothing out of Exxon. If you want to pretend they didn't pay any INCOME taxes, they pay plenty of other taxes in addition to royalties to the federal and state governments. Even your article mentioned that fact, but you decided to ignore it.
well, here is a CNN article that says they paid ZERO in federal corporate income taxes....actually, the Federal government PAID EXXON money....156 million paid by us tax payers...that's just bull crap.
so the 15.2 billion they are claiming to have paid is INTERNATIONAL and we, the fed and state got crapola?
our corporate tax structure MUST BE REFORMED.
You're wrong. Sorry, get over it.
PolitiFact | Bernie Sanders says ExxonMobil paid no taxes in 2009, but that's inaccurate
And the states and fed did not get nothing out of Exxon. If you want to pretend they didn't pay any INCOME taxes, they pay plenty of other taxes in addition to royalties to the federal and state governments. Even your article mentioned that fact, but you decided to ignore it.
oh, so CNNmoney is wrong? I did NOT say they paid nothing in taxes, they paid plenty in International corporate income taxes.... I said they paid nothing in FEDERAL CORPORATE INCOME TAXES dear....in fact, the federal treasury paid exxon 157 million
well, here is a CNN article that says they paid ZERO in federal corporate income taxes....actually, the Federal government PAID EXXON money....156 million paid by us tax payers...that's just bull crap.
so the 15.2 billion they are claiming to have paid is INTERNATIONAL and we, the fed and state got crapola?
our corporate tax structure MUST BE REFORMED.
You're wrong. Sorry, get over it.
PolitiFact | Bernie Sanders says ExxonMobil paid no taxes in 2009, but that's inaccurate
And the states and fed did not get nothing out of Exxon. If you want to pretend they didn't pay any INCOME taxes, they pay plenty of other taxes in addition to royalties to the federal and state governments. Even your article mentioned that fact, but you decided to ignore it.
oh, so CNNmoney is wrong? I did NOT say they paid nothing in taxes, they paid plenty in International corporate income taxes.... I said they paid nothing in FEDERAL CORPORATE INCOME TAXES dear....in fact, the federal treasury paid exxon 157 million
Then I'm totally against it.Eliminate all income taxes and go to the Fair Tax.
Revenue would double within 2 years.
But of course the redistributionists and class warfare warriors oppose it.
The fair tax replaces the income tax, corporate tax, and other taxes. It's not a new tax.Then I'm totally against it.Eliminate all income taxes and go to the Fair Tax.
Revenue would double within 2 years.
But of course the redistributionists and class warfare warriors oppose it.
The feds are already taking too much....They don't need any more.
Eliminate all income taxes and go to the Fair Tax.
Revenue would double within 2 years.
But of course the redistributionists and class warfare warriors oppose it.