Anyone ever heard of the 'tax-gap'?

Discussion in 'Economy' started by Dot Com, Mar 25, 2011.

  1. Dot Com
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    Dot Com Nullius in verba Supporting Member

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    Last I heard, it stood at @ $500-700 billion/annually

    I don't think that reduces the deficit. :eusa_eh: Where's the conservative, deficit-hawks on this board :confused:
     
  2. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    I suppose you could start by investigating General Electric , they paid zero taxes last year.. the Obama connection I'd guess..
     
    Last edited: Mar 25, 2011
  3. Ernie S.
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    Ernie S. Platinum Member

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    Ahhh Drug dealers tend to be liberal. Get your own house in order before you come after me.
     
  4. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    Obama's ..Link.. to corruption..

    The top tax bracket for U.S. corporations stands at 35 percent, one of the highest rates in the world. So how is it possible that a giant of American business, General Electric, paid nothing in federal taxes last year, even as it made billions in profit?

    And should the CEO of GE, Jeffrey Immelt, be advising the president on business

    For two years, President Obama has been talking about the need for corporate tax reform, declaring that the system is too complicated and that companies pay too much.

    "Simplify, eliminate loopholes, treat everybody fairly," Obama said in February.

    For those unaccustomed to the loopholes and shelters of the corporate tax code, GE's success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. In fact, GE got a $3.2 billion tax benefit.

    General Electric Paid No Federal Taxes in 2010 - ABC News
     
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  5. AquaAthena
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    AquaAthena INTJ/ INFJ

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    "Crony capitalism."And they are called "LOOPHOLES" and both parties love them and will never have the cajones to eliminate them although, they all say they want to....:lol: :lol: :lol:
     
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  6. Dot Com
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    Dot Com Nullius in verba Supporting Member

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    Good guess but its individuals:

     
    Last edited: Mar 25, 2011
  7. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    Well if the tax gap is mostly individuals I have two suggestions to eliminate it:

    1. The 50% of Americans who pay little or no taxes should start paying their proportionate share, or. . . .

    2. The government should make do with less money.
     
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  8. Dot Com
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    Dot Com Nullius in verba Supporting Member

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    So you think austerity will tidy everything up? Where you gonna cut & how much?

    The fact remains, individuals; especially conservatives, want & get gov't services but are unwilling to pay for them. :eusa_whistle:
     
  9. Big Fitz
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    Big Fitz User Quit *****

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    Wondering why the lower 60% of tax payers don't pay any taxes, and the bottom 40% get more money back than they put in if this is the case.
     
  10. Big Fitz
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    Big Fitz User Quit *****

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    I wonder. If you are spending too much for your income, would less spending help YOUR situation out?

    What makes you think the government is any different other than scale?
     

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