Corporate Tax Crackdown Faces Big Obstacles From Lobbyists

[VaYank5150]

Although a number of the largest corporations in America are publicly taking heat for paying relatively small tax bills -- or none at all -- it's likely they're simply operating within the tax code as it now exists. General Electric is among those being singled out. Skeptics wonder how the company could report worldwide profits in excess of $14 billion -- more than $5 billion from operations here in the U.S. -- and owe nothing in taxes.

Corporate Tax Crackdown Faces Big Obstacles From Lobbyists - FoxNews.com

To hear many on these boards tell it, the United States has the highest corporate tax in the world, which causes US employers to ship jobs overseas.

 

[Soggy in NOLA]

Thi is a red herring.... GE has a positive tax liability for 2010. So do I, but it is partially offset by carryovers from prior years.

This is not that uncommon.

 

[VaYank5150]

Thi is a red herring.... GE has a positive tax liability for 2010. So do I, but it is partially offset by carryovers from prior years.

This is not that uncommon.

From the article:

Critics say Bank of America, Boeing, Verizon and others are also benefiting from the current system: earning billions and either paying nothing or actually getting refunds. It's all a result of laws heavily influenced by Washington's top lobbyists.

How uncommon is it again?

 

[VaYank5150]

Additionally from the article:

Williams calls the system "old, complex and uncompetitive." He says the law should be designed to make sure everyone pays their fair share, "including GE." Williams urges that it should also help to promote jobs and competitiveness but says, "It does the opposite today."

 

[ClosedCaption]

Thi is a red herring.... GE has a positive tax liability for 2010. So do I, but it is partially offset by carryovers from prior years.

This is not that uncommon.

And that means it's ok. Or are doing the dishonest "not making a judgement" thing?

Btw...it is uncommon

 

[whitehall]

There is no such thing as "obstacles from lobbyists". First of all lobbyists are us. People chip in to the Sierra Club and the NRA and even CPUSA to try to influence the representatives we elect. There is nothing wrong with the concept if the politicians are honest and the lobbyists operate within the law. Accuse politicians of criminal behavior if you want to but stop the foolishness of blaming the mysterious "lobbyists". Next thing you know the president will blame the US Chamber of Commerce for his problems. Wait a minute, he already did.

 

[VaYank5150]

There is no such thing as "obstacles from lobbyists". First of all lobbyists are us. People chip in to the Sierra Club and the NRA and even CPUSA to try to influence the representatives we elect. There is nothing wrong with the concept if the politicians are honest and the lobbyists operate within the law. Accuse politicians of criminal behavior if you want to but stop the foolishness of blaming the mysterious "lobbyists". Next thing you know the president will blame the US Chamber of Commerce for his problems. Wait a minute, he already did.

I wasn't blaming anyone for anything. I am the first to admit that I am NOT a corporate tax whiz. It just seemes that this article flies in the face of all of the claims that the US has the highest corporate tax rates in the world, making it difficult to do business here.

 

[Mad Scientist]

When Japan lowers it's corporate tax rate this year, the US will have the highest rate. That's just a fact.

Interesting that the article you posted shows how G.E. has lobbyists working overtime to influence Congress. Do you think the former CEO of G.E. in Obamas Jobs Council has any influence? Hmm?

Liberals Press Obama to Dump GE CEO From Economic Panel - FoxNews.com

Add to this, most liberals don't understand how the tax system differs for corporations and individuals. Example:

Individual:
Work
Pay taxes
Spend whats left

Corporation:
Produce
Spend
Pay taxes on whats left

What you Liberals need to focus on, rather than just stealing peoples money, is changing the tax codes. And seeing how a large number of Congressmen are Lawyers, good luck with that.

 

[martybegan]

There is no such thing as "obstacles from lobbyists". First of all lobbyists are us. People chip in to the Sierra Club and the NRA and even CPUSA to try to influence the representatives we elect. There is nothing wrong with the concept if the politicians are honest and the lobbyists operate within the law. Accuse politicians of criminal behavior if you want to but stop the foolishness of blaming the mysterious "lobbyists". Next thing you know the president will blame the US Chamber of Commerce for his problems. Wait a minute, he already did.

I wasn't blaming anyone for anything. I am the first to admit that I am NOT a corporate tax whiz. It just seemes that this article flies in the face of all of the claims that the US has the highest corporate tax rates in the world, making it difficult to do business here.

I would think its less the rate, and more the endless regulations/loopholes/shelters that you have due to the current system. This is why proponents of a non deduction tax system plead thier case. Set taxes at 15% of profits, no deductions, just straight off the top.

Just remember you cant hit the money again as capital gains when it goes out as a dividend, you already hit it once.

 

[VaYank5150]

When Japan lowers it's corporate tax rate this year, the US will have the highest rate. That's just a fact.

Interesting that the article you posted shows how G.E. has lobbyists working overtime to influence Congress. Do you think the former CEO of G.E. in Obamas Jobs Council has any influence? Hmm?

Liberals Press Obama to Dump GE CEO From Economic Panel - FoxNews.com

Add to this, most liberals don't understand how the tax system differs for corporations and individuals. Example:

Individual:
Work
Pay taxes
Spend whats left

Corporation:
Produce
Spend
Pay taxes on whats left

What you Liberals need to focus on, rather than just stealing peoples money, is changing the tax codes. And seeing how a large number of Congressmen are Lawyers, good luck with that.

Maybe you could actually READ the article I linked?

The president may also find an ally in GE.

Williams calls the system "old, complex and uncompetitive." He says the law should be designed to make sure everyone pays their fair share, "including GE." Williams urges that it should also help to promote jobs and competitiveness but says, "It does the opposite today."

 

[Claudette]

I thought Barry was getting rid of all the lobbyists??

Oh wait. I forgot. That was another of his campaign promises.

Never Mind.

 

[VaYank5150]

I thought Barry was getting rid of all the lobbyists??

Oh wait. I forgot. That was another of his campaign promises.

Never Mind.

I don't remember him promising to do this? Lobbyists are legal, yes? While Obama has broken many campaign promises, I simply do not remember this one?

 

[ClosedCaption]

There is no such thing as "obstacles from lobbyists". First of all lobbyists are us. People chip in to the Sierra Club and the NRA and even CPUSA to try to influence the representatives we elect. There is nothing wrong with the concept if the politicians are honest and the lobbyists operate within the law. Accuse politicians of criminal behavior if you want to but stop the foolishness of blaming the mysterious "lobbyists". Next thing you know the president will blame the US Chamber of Commerce for his problems. Wait a minute, he already did.

what a dumbass. Politicians are honest huh?

 

[Claudette]

I thought Barry was getting rid of all the lobbyists??

Oh wait. I forgot. That was another of his campaign promises.

Never Mind.

I don't remember him promising to do this? Lobbyists are legal, yes? While Obama has broken many campaign promises, I simply do not remember this one?

My bad.

His promise was there would be no lobbyists employed in his administration.

Of course we all know that was a load of hooey.

Reality is a bummer sometimes.

http://www.npr.org/blogs/itsallpoli...te-house-consults-lobbyists-though-stealthily

 

[VaYank5150]

I thought Barry was getting rid of all the lobbyists??

Oh wait. I forgot. That was another of his campaign promises.

Never Mind.

I don't remember him promising to do this? Lobbyists are legal, yes? While Obama has broken many campaign promises, I simply do not remember this one?

My bad.

His promise was there would be no lobbyists employed in his administration.

Of course we all know that was a load of hooey.

Reality is a bummer sometimes.

Obama's White House Consults Lobbyists On Down Low : It's All Politics : NPR

Which has WHAT to do with the topic of this thread, exactly?

 

[Claudette]

Nothing.

Just an aside in reference to another fib told by Barry Boy.

 

[Sallow]

This is partially the result of Conservatives rushing to protect the interest of the rich over the interest of everyone else..and enable the concentration of wealth into a small part of the population.

Without any protection against it..they will begin to write the laws..and ultimately gain all the power.

 

[Sallow]

Here..

Tony explains it all..

[ame=http://www.youtube.com/watch?v=XJ7HZATMKBY&feature=related]YouTube - Tony Montana - Money, Power, Women[/ame]

 

[Mr Natural]

They could reduce corporate taxes to 0% and eliminate every regulation on the books and that would do nothing to change the fact that foreign workers are willing to work for a small fraction of their American counterparts.

 

[VaYank5150]

They could reduce corporate taxes to 0% and eliminate every regulation on the books and that would do nothing to change the fact that foreign workers are willing to work for a small fraction of their American counterparts.

You obviously haven't been reading your Tea Party/GOP talking points....