Big companies 0% taxes?!

[OnePercenter]

Our government is so screwed up. We need to just scrap our entire tax code and start over. Get rid of all the loopholes, credits, deductions, etc. Combine income and capital gains into one number, and base brackets off of that. Let taxes be lower but progressive. Cap it at 30%. That way if you are rich and you make a ton of money from capital gains, it wont mean you get to avoid taxes and pay a lower effective rate than those in lower brackets.

Eliminate all business deductions/subsides except for employee expenses and allow a 1 to 1 deduction from Federal tax.

 

[EdwardBaiamonte]

of course, why do you think their prices are so low? A liberal lacks the IQ to understand capitalism.

WalMart dictates the price they will buy an item from their suppliers.

so? everyone tries to buy at the lowest price possible??? And????

 

[EdwardBaiamonte]

of course, why do you think their prices are so low? A liberal lacks the IQ to understand capitalism.

WalMart dictates the price they will buy an item from their suppliers.

so? everyone tries to buy at the lowest price possible??? And????

 

[EdwardBaiamonte]

Our government is so screwed up. We need to just scrap our entire tax code and start over. Get rid of all the loopholes, credits, deductions, etc. Combine income and capital gains into one number, and base brackets off of that. Let taxes be lower but progressive. Cap it at 30%. That way if you are rich and you make a ton of money from capital gains, it wont mean you get to avoid taxes and pay a lower effective rate than those in lower brackets.

Eliminate all business deductions/subsides except for employee expenses and allow a 1 to 1 deduction from Federal tax.

You mean eliminate the corporate tax altogether since it is passed on to consumers in the form of higher prices like any cost. It would cause a huge economic boom around the world.

 

[OnePercenter]

so? everyone tries to buy at the lowest price possible??? And????

The question was 'deadly competition.' WalMart IS NOT in a deadly competition to survive.

 

[EdwardBaiamonte]

so? everyone tries to buy at the lowest price possible??? And????

The question was 'deadly competition.' WalMart IS NOT in a deadly competition to survive.

so then why not double prices and make a huge huge profit??? A liberal will lack the IQ to understand capitalism.

 

[OnePercenter]

You mean eliminate the corporate tax altogether since it is passed on to consumers in the form of higher prices like any cost. It would cause a huge economic boom around the world.

No. Eliminating corporate taxes WON'T decrease prices, but making hiring the only deduction/subsidy WILL increase hiring.

 

[EdwardBaiamonte]

You mean eliminate the corporate tax altogether since it is passed on to consumers in the form of higher prices like any cost. It would cause a huge economic boom around the world.

No. Eliminating corporate taxes WON'T decrease prices,.

 

[EdwardBaiamonte]

You mean eliminate the corporate tax altogether since it is passed on to consumers in the form of higher prices like any cost. It would cause a huge economic boom around the world.

No. Eliminating corporate taxes WON'T decrease prices,.

Welcome to econ 101 class one day one. If they don't pay taxes they have more money so they can lower their prices. See why we say a liberal lacks the IQ to understand capitalism.

 

[EdwardBaiamonte]

but making hiring the only deduction/subsidy WILL increase hiring.

or you could pass a law requiring every business to simply hire 1% more employees until unemployment was eliminated and then you could pass a law requiring them to pay more and more until poverty was eliminated. As a liberal you lack the IQ to understand even the basics of capitalism.

 

[EdwardBaiamonte]

but making hiring the only deduction/subsidy WILL increase hiring.

or you could pass a law requiring every business to just hire 1% more employees until unemployment was eliminated and then you could pass a law requiring them to pay more and more until poverty was eliminated. As a liberal you lack the IQ to understand even the basics of capitalism. Sadly, when govt does anything to change the way business operates they make the business less efficient and less competitive. That is bad thing. I know you cant possibly understand that but feel free to ask questions.

 

[RKMBrown]

You mean eliminate the corporate tax altogether since it is passed on to consumers in the form of higher prices like any cost. It would cause a huge economic boom around the world.

No. Eliminating corporate taxes WON'T decrease prices, but making hiring the only deduction/subsidy WILL increase hiring.

ROFL you still trying to figure out why walmart doesn't pay taxes on their total revenue?

Most humans have the capacity to learn. What's your problem?

 

[EdwardBaiamonte]

You mean eliminate the corporate tax altogether since it is passed on to consumers in the form of higher prices like any cost. It would cause a huge economic boom around the world.

No. Eliminating corporate taxes WON'T decrease prices, but making hiring the only deduction/subsidy WILL increase hiring.

ROFL you still trying to figure out why walmart doesn't pay taxes on their total revenue?

Most humans have the capacity to learn. What's your problem?

taxes are paid on profit, not revenue

 

[RKMBrown]

You mean eliminate the corporate tax altogether since it is passed on to consumers in the form of higher prices like any cost. It would cause a huge economic boom around the world.

No. Eliminating corporate taxes WON'T decrease prices, but making hiring the only deduction/subsidy WILL increase hiring.

ROFL you still trying to figure out why walmart doesn't pay taxes on their total revenue?

Most humans have the capacity to learn. What's your problem?

taxes are paid on profit, not revenue

Tell @OnePercenter

 

[OnePercenter]

Welcome to econ 101 class one day one. If they don't pay taxes they have more money so they can lower their prices. See why we say a liberal lacks the IQ to understand capitalism.

Eliminating taxes for corporations increases profits, unless you present an opportunity for job growth to reduce taxes.

 

[OnePercenter]

ROFL you still trying to figure out why walmart doesn't pay taxes on their total revenue?

Most humans have the capacity to learn. What's your problem?

I'm still waiting for someone on this board to answer why effective tax rates for corporations are 'figured' differently than workers.

 

[OnePercenter]

or you could pass a law requiring every business to simply hire 1% more employees until unemployment was eliminated and then you could pass a law requiring them to pay more and more until poverty was eliminated. As a liberal you lack the IQ to understand even the basics of capitalism.

Which would improve their customer base. ie; more people with more money to buy more stuff and services?

 

[RKMBrown]

ROFL you still trying to figure out why walmart doesn't pay taxes on their total revenue?

Most humans have the capacity to learn. What's your problem?

I'm still waiting for someone on this board to answer why effective tax rates for corporations are 'figured' differently than workers.

Your question makes no sense. You may as well be asking why effective dates are figured differently than effective income taxes. Effective is a modifier.

 

[OnePercenter]

Your question makes no sense. You may as well be asking why effective dates are figured differently than effective income taxes. Effective is a modifier.

Effective is actual. My question stands.

 

[Dad2three]

Listen up Mr. H....

I'm guessing you are replying to this post to argue with me, or pry into my business, or simply to troll late at night. I'm posted this topic to see how others view what is happening to taxes being collected on business' that make million or billions in profits and pay little or no taxes. Before replying, please Google "corporations that pay no taxes" and read for 5 minutes before you try to argue with me.

I pay taxes every month, every quarter, and every year. Gladly? No, but I know my taxes go to support this great country of ours. I feel if you make millions in our country, you should play by the rules like most of the people and businesses out there and pay your taxes. Do individual citizens get to find loopholes and pay no taxes? Does the ma and pa store on the corner get to find loopholes and pay no taxes? Do you pay taxes? Please tell me how you feel about this subject, that's why I posted. If you want to learn more about my personal business, please PM me.

And I have 6 employees.

Thanks for this.

Sounds like you and I are in similar boats, but with different sails.

Let me ask you this... is any one single expense in operating your business deducted from your taxable income?

Come on now, are you trying to quiz me? You know this answer, and my accountant can answer in specific detail, but pretty much everything on the right side of my balance sheet is deducted from my taxable income.

Now your turn Mr H, how do you feel about big business and corporations paying little or no tax? Are you dodging my question? Are you a politician?

Here's my 2 cents.

Taxes on corporations, large and small, should not exist for corporations don't get to enjoy the profits. No one has ever sat next to a corporation at a theater or on an airliner, a corporation has never sat down to dinner at a fine restaurant or has bought itself a nice yacht.

The profits earned by corporations are ALWAYS passed onto people, the shareholders, and that's where the taxes should be paid.

When we have corporate taxes in the mix studies have found that the cost, or incidence, of paying those taxes doesn't come out of the hide of shareholders but from customers.

The above was a normative position, how things should be. Now here's my position on how things are - those corporations who pay zero taxes are very likely using credits to offset US tax liability, meaning that they've paid taxes in various countries and the US, because of it unique looney policy of taxing worldwide income, offsets what corporations pay to foreign governments in order to avoid double taxation issues.

I don't see a way to avoid this issue without overhauling the crazy tax system which taxes worldwide income.

"The profits earned by corporations are ALWAYS passed onto people, the shareholders, and that's where the taxes should be paid."


MORE nonsense


Probably most people assume that the corporate income tax is largely paid by consumers of its products or services. That is, they assume that although the tax is nominally levied on the corporation as a whole, in fact the burden of the tax is shifted onto customers in the form of higher prices.

All economists reject that idea. They point out that prices are set by market forces and the suppliers of goods and services aren’t only C-corporations, which pay taxes on the corporate tax schedule, but also sole proprietorships, partnerships and S-corporations that are taxed under the individual income tax. Other suppliers include foreign corporations and nonprofits.

Therefore, corporations cannot raise prices to compensate for the corporate income tax because they will be undercut by businesses to which the tax does not apply. It should also be noted that the states have substantially different corporate tax regimes, including some that do not tax corporations at all, and we do not observe that prices for goods and services vary from state to state depending on its taxation of corporations.

That leaves two remaining groups that may bear the burden of the corporate tax: workers and shareholders.



...Most economists now agree that the burden of the corporate income tax falls on labor to some extent, but there is disagreement over the degree.


The Treasury economists conclude that 82 percent of the corporate tax falls on capital and 18 percent on labor. This is very close to the methodology of the private Tax Policy Center, whose analyses are frequently cited in policy debates. It assumes that 80 percent of the corporate tax is borne by capital and 20 percent by labor.


http://economix.blogs.nytimes.com/2...porate-income-tax/?_php=true&_type=blogs&_r=0