Badger Corporate Tax Dodgers!

Discussion in 'Politics' started by georgephillip, Feb 24, 2011.

  1. georgephillip
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    georgephillip Gold Member Supporting Member

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    Next April 15th (Tax Day) would be a good time to connect the dots between state and local revenue shortages and the scandal of corporate tax dodging.

    States across the country face combined budget deficits of over $102 billion while overseas tax havens cost the US Treasury over a $100 billion per year.

    The UK appears to be leading the way:

    "In England, the movement UK UNCUT, has galvanized street protests, media investigations and legislative action. They have dramatized the scandal of billions lost thanks to overseas tax havens and corporate loopholes with the human face of federal and state budget cuts.

    "In every U.S. state, we should be doing the same.

    "Every time a politician complains that 'there is no money' or 'we must make these cuts,' we should be pointing to the corporate tax dodging that could immediately close our budget gaps.

    "We should name names and show up at their branches.

    "First there are the banks that wrecked our economy and accepted billions in taxpayer funded TARP funds. These include Wells Fargo, Goldman Sachs and Bank of America. Our message: Pay up!

    "Pay up! General Electric, Carnival Cruise lines, Boeing, FedEx, News Corp, ExxonMobil, Pfizer, Proctor and Gamble.

    "They pretend their profits are earned in tax havens like the Grand Cayman Islands and their losses are earned in the U.S., lowering their tax bills."

    Wisconsin 2.0:
     
  2. WillowTree
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    WillowTree Diamond Member

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    Pay up GE? You're fucking kidding us right?? When did anyone obie wan ever associate himself with actually pay taxes??? phukin phunny..
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    Wells Fargo was completely solvent and forced to take TARP, BoA was forced to buy Merill Lynch (which ended up sucking their asset pool dry), while Goldman Sachs is a revolving door for Treasury Secretaries, Fed Chairmen and other of the highest financial posts in gubmint.

    But don't let niggling little things like facts get in the way of one of your hallucinatory rants.
     
  4. washamericom
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    washamericom Gold Member

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    ok, if you say so mr. thompson from atlas shrugged....
     
  5. georgephillip
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    georgephillip Gold Member Supporting Member

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    Don't get bitch slapped by reality:

    "These US companies use our shared infrastructure, but don’t pay their fair share. They enjoy our roads, national defense, emergency services, and federally-funded research. They are profitable but don’t pay their full freight. They undercut local businesses that pay their taxes while struggling to compete on an unlevel playing field.

    “There’s a direct connection between corporate tax dodging and what’s happening in people’s lives,” said Carl Gibson one of the founders of US UNCUT Mississippi. “If we close those loopholes, we wouldn’t have to be cutting back on firefighters, library hours and student loans

    Wisonsin 2.0
     
  6. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    My God man... do a little research on the amount of permits, fees, tolls, taxes, etc. required to run a load of freight cross-country and get back to us. As for the national defense and the rest of your drek, we've have millions of people in this country enjoying these services and paying absolutely NOTHING. But yeah, let's beat up on Amway and Halliburton.
     
  7. georgephillip
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    georgephillip Gold Member Supporting Member

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    $102 billion in combined state budget deficits.
    $100 billion per year in tax revenues lost to corporate tax havens.
    Blame schoolteachers and seniors.
    Yes?
     
  8. georgephillip
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    georgephillip Gold Member Supporting Member

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    "Take GE, for example. GE has $36Bn in sales and paid $431M in taxes (15% of net profits) in 2009.

    "They also paid out $9Bn in dividends and over $24Bn in 2008 and 2007 and in 2007 they bought back their own stock but, in those three years, they paid -(NEGATIVE) $900M in taxes! "

    Phil's Stock World
     
  9. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says tax `em to make up for the lost tax revenue from jobs outsourced overseas...
    :cool:
    Are U.S. companies really drowning in taxes or artful dodgers?
    WASHINGTON — 35 percent tax rate is vastly overstated, many experts say
     
    Last edited: Apr 17, 2011
  10. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    Let me ask a question: if you force US businesses to pay more taxes one way or another, who do you think ultimately pays it? If you increase a business's tax burden, they're going to take one or more of the following steps:

    1. pass the cost onto the customers, in part or in total.

    2. cut costs somewhere else, including fewer employees or fewer hours worked.

    3. outsource, automate, rework the business model if possible.

    4. go out of business or move to another country. Some small businesses may not need much of a nudge these days.


    The reality is that raising corp taxes may not be the good thing you think it is. Do you really think businesses are just going to accept less profit without making any changes such as those listed above? If so, I would suggest you get in touch with reality.
     

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