Corporate America paying its lowest share of taxes since Eisenhower

[Denizen]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

 

[progressive hunter]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

its always a good day when people or companies keep more of their own money and the government gets less

I APPLAUD THEM,,,


STARVE THE BEAST,,,

 

[DGS49]

Could it be any more obvious that the OP has no fucking clue about taxes, corporations, money, or the tax code itself?

Most corporations pay no taxes because they file under Subchapter S. Hence, their profits are diverted to the owners, WHO PAY TAXES ON THEM...at a higher rate, generally, than the formal corporate tax rate. The SHOCKING assertion that most corporations pay no FIT is a great, non-humorous joke, taken seriously by no one with a three-digit IQ.

Most corporations pay sales taxes, payroll taxes, real estate taxes, use taxes, state income and revenue taxes, local taxes, and countless fees to various government entities. To the extent that corporations get any tax "breaks," these breaks are devised by Congress in order to promote some economic good that Congress deems more valuable than the tax revenue that is foregone.

I would TRULY like to see the "thought" process whereby the OP concludes that President Trump is "stealing from the bottom half of U.S. society"...a half that, by the way, pays no Federal Income Tax at all, statistically speaking.

And it goes without saying that any bizarre and outrageous assertion that The President has stolen $50 million from ANYONE requires a link to a credible source.

I'm not holding my breath.

 

[fncceo]

Corporate America paying its lowest share of taxes since Eisenhower

You say that like it's a bad thing.

 

[theHawk]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

Which in turn is why we have the lowest unemployment, highest wages, and highest stock market since Eisenhower.

 

[Oddball]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

 

[Jitss617]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

This was meant to stimulate the economy and its working

 

[Dekster]

If the dems had built his wall, he probably would have been willing to raise taxes to pay for it

BTW there is a 5 year quirk in the Trump tax cuts that allow corporations to elect to fully depreciate certain expenses as a lump sum in one year instead of doing it over many years as many had been doing. It is something small businesses can do but large ones have not been allowed to do before.

 

[22lcidw]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

When we had the 39% tax rate for individuals, did they pay? Why does the Prog Party never give massive tax cuts to the working stiffs who are not privileged. How about doubling the tax cuts Trump did for them. When it cones to corporations, you are a globalist. So those corporations go off shore because of higher taxes here. The hope is they bring their headquarters come back and bring manufacturing with them. I know. You have Central and South American views of mass poverty that somehow will be different this time. Seeing their politicians and ours becoming rich is a comfort zone for you. Hill and Bill were broke when they took office. Now they are rich and still useless except for verbal bullcrap they do not believe in.

 

[Dekster]

Adam smith wrote a couple trillion moons ago that "Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer." We are at full employment with low inflation. The consumers seem to be doing quite well for themselves, so if you want to make an argument for higher taxes, you might want to lead with something besides penis envy.

 

[RoshawnMarkwees]

The Eisenhower era may have been the most prosperous period in US history.

 

[Rustic]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

Lol
Redistribution is for pussies, Robin Hood mentality is delusional... So shut the fuck up

 

[MAGAman]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

Who do you think actually pays the Corporate Taxes, Einstien?

Do you think CEOs grab their checkbooks and cut a check, of do they pass it on to the consumer?

Think before you post...

 

[PredFan]

Trump's tax cuts were an illusion to average America while a boon to Trump and his rich buddies.

Many corporations pay zero tax like the Trump corporation itself.

Trump has used his POTUS power to enrich himself while stealing from the bottom half of US society. That is disregarding the $ 50 million stolen from the POTUS inauguration fund including $30 million pay-off to Melania for not bailing out.

Corporate America paying its lowest share of taxes since Eisenhower

Corporate America paying its lowest share of taxes since Eisenhower
BY AIMEE PICCHI
UPDATED ON: MAY 21, 2019 / 6:41 PM / MONEYWATCH

U.S. companies contributed 7.6% of the $3.5 trillion in total federal income tax revenue collected for 2018, down two percentage points from the previous year.
Individual taxpayers contributed 57% of revenue last year, up from 54% in 2017.
The percentage of taxpayers who are audited by the IRS has fallen steadily in recent years, largely because of agency budget cuts.

While polls suggest that most Americans feel they're not benefiting from the recent overhaul of the nation's tax laws, U.S. corporations have more to crow about: New IRS data show American companies are paying their smallest share of federal income tax revenue in nearly 60 years.

Businesses contributed 7.6% of the $3.5 trillion in total tax revenue collected for fiscal-year 2018, the tax agency said in a report -- that's a two percentage point decline from the previous year. After refunds, that figure falls to 6.8%. By contrast, individuals are shouldering a larger share of the country's tax burden, accounting for 57% of revenue last year compared with 54% in 2017. Most of the rest of the country's tax revenue stems from employment taxes.

The findings come amid continuing debate over the impact of the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%. Supporters of the corporate tax cut, including President Donald Trump, argue that lowering business taxes boosts profits, drives investment and spurs economic growth. But the new law has also made it easier for some corporations to lower their tax burden to zero.

And it's a good thing. Next?

 

[sparky]

I guess you folks either forgot, or were too young for>

~S~

 

[Blues Man]

Could it be any more obvious that the OP has no fucking clue about taxes, corporations, money, or the tax code itself?

Most corporations pay no taxes because they file under Subchapter S. Hence, their profits are diverted to the owners, WHO PAY TAXES ON THEM...at a higher rate, generally, than the formal corporate tax rate. The SHOCKING assertion that most corporations pay no FIT is a great, non-humorous joke, taken seriously by no one with a three-digit IQ.

Most corporations pay sales taxes, payroll taxes, real estate taxes, use taxes, state income and revenue taxes, local taxes, and countless fees to various government entities. To the extent that corporations get any tax "breaks," these breaks are devised by Congress in order to promote some economic good that Congress deems more valuable than the tax revenue that is foregone.

I would TRULY like to see the "thought" process whereby the OP concludes that President Trump is "stealing from the bottom half of U.S. society"...a half that, by the way, pays no Federal Income Tax at all, statistically speaking.

And it goes without saying that any bizarre and outrageous assertion that The President has stolen $50 million from ANYONE requires a link to a credible source.

I'm not holding my breath.

And S corps became a legal business entity in 1958 during Eisenhower's presidency.

SO it's no mystery why Corporations have paid a lower share of all taxes since Eisenhower signed the law that made S corps legal

 

[sparky]

I've been a S corp for decades

The OP has zero to do with it

~S~

 

[sparky]

Redistribution is for pussies, Robin Hood mentality is delusional..

This is no delusion>



~S~

 

[theHawk]

Redistribution is for pussies, Robin Hood mentality is delusional..

This is no delusion>



~S~

And the bottom 20% are living far better lives than decades ago.

It’s called a hierarchy, you have to move up with hard work and dedication. Being a bottom-feeder all your life isn’t going to reward you.

 

[sparky]

Redistribution is for pussies, Robin Hood mentality is delusional..

This is no delusion>



~S~

And the bottom 20% are living far better lives than decades ago.

It’s called a hierarchy, you have to move up with hard work and dedication. Being a bottom-feeder all your life isn’t going to reward you.

The lower quintle's $$$ does not go as far as it's prior generations did

the hiearchy game is rigged, legislatively favoring elites

and i may be a dumb redneck bluecollar , but i built every single piece of my existence, house,farm, biz from the sweat of my own brow w/out asking the gub'mit for anything but .....

a level playing field

that IS their job

gentification is not

~S~