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Plenty to step into the gap?
How and why? What is the incentive for anyone to raise capital and invest it in the very expensive and risky venture of oil exploration and development if, when they are successful, the government will abuse its power to destroy his business?
You economic illiterates would be amusing, if you provided any fresh material. But as all you do is burp up the same old tired bromides, you are boring.
You don't think corporations that rake in TRILLIONS on our soil have a responsibility to the citizenry in the towns, states and country in which operate and make money? Really? You are a corporatist puppet. Dance puppet, dance! I think I'd rather be boring. Oh, and please refute anything that I've stated. You're OK with shell companies and loopholes and corporate welfare to the detriment of our country so that a few already obscenely rich white guys can make another billion, right?
Exactly. They want the benefits of being an American company with none of the responsibility.
Oh and I noticed how he avoided you content AGAIN and tried to sidetrack the debate by asking you questions when he refused to answer yours. LOL
Plenty to step into the gap?
How and why? What is the incentive for anyone to raise capital and invest it in the very expensive and risky venture of oil exploration and development if, when they are successful, the government will abuse its power to destroy his business?
WOW nice leap. However, somewhere along the way you forgot that the focus was to take the drilling rights away from companies who avoid paying their share by exploiting loopholes, using dummy corporations, moving offices overseas and etc.
Don't engage in such practices and you won't have to face the consequences. Aren't you righties supposed to be all about personal responsibility??
I have a great idea
Let us start up a really really really big War, then eliminate Taxes!!
That would be fun!!
God Bless The Corporations!
Isn't that right Neo-Cons?
Yes, for other people.Plenty to step into the gap?
How and why? What is the incentive for anyone to raise capital and invest it in the very expensive and risky venture of oil exploration and development if, when they are successful, the government will abuse its power to destroy his business?
WOW nice leap. However, somewhere along the way you forgot that the focus was to take the drilling rights away from companies who avoid paying their share by exploiting loopholes, using dummy corporations, moving offices overseas and etc.
Don't engage in such practices and you won't have to face the consequences. Aren't you righties supposed to be all about personal responsibility??
Take it from a famous Corporatist.God Bless The Corporations!
Isn't that right Neo-Cons?
Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
<more>
Exxon paid $36.5B in income taxes in 2009. Isn't that enough? It's a global company - and has a fiduciary responsibility to its shareholders to apply the various tax codes in the most beneficial way possible. Do you pay more income tax than the legally required minimum?
How much money did the government earn off of the taxes it adds to every gallon of gas?
if a business shows no net profit, why would they pay any income taxes?
If a business pays out most of what it earns to stockholders, taxes are collected on the gains of those stocks.
If a business buys equipment, taxes are paid on the equipment.
A business pays employees, taxes are collected on that.
If a business contracts work out to another company, taxes are collected
don't worry folks the money that exxon made and spent caused many millions of tax dollars to flow into government's itchy little hands.
Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
<more>
Exxon paid $36.5B in income taxes in 2009. Isn't that enough? It's a global company - and has a fiduciary responsibility to its shareholders to apply the various tax codes in the most beneficial way possible. Do you pay more income tax than the legally required minimum?
How much money did the government earn off of the taxes it adds to every gallon of gas?
How much did EM earn off of using federally built roads?
God Bless The Corporations!
Isn't that right Neo-Cons?
I'd rather have Greedy Corporations than Greedy Government.
i'm stunned.
seriously
God Bless The Corporations!
Isn't that right Neo-Cons?
Exxon paid $36.5B in income taxes in 2009. Isn't that enough? It's a global company - and has a fiduciary responsibility to its shareholders to apply the various tax codes in the most beneficial way possible. Do you pay more income tax than the legally required minimum?
How much money did the government earn off of the taxes it adds to every gallon of gas?
How much did EM earn off of using federally built roads?
Here's an idea? Why don't you share this info with the rest of the class?
i'm stunned.
seriously
I'm not.
The CBO released a report a few years ago concluding that a third of all large corporations in America paid no taxes in ten years.
Also, the effective tax rate for large corporations in America is, or at least was, 6%.
Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
<more>
Exxon paid $36.5B in income taxes in 2009. Isn't that enough?
Last week, Forbes magazine published what the top U.S. corporations paid in taxes last year. Most egregious, Forbes notes, is General Electric, which generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion. Big Oil giant Exxon Mobil, which last year reported a record $45.2 billion profit, paid the most taxes of any corporation, but none of it went to the IRS:
Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
<more>
Exxon paid $36.5B in income taxes in 2009. Isn't that enough?
How do you know that?
Charges for income taxes on an income statement filed to the SEC is not necessarily representative of what they actually paid.
You might be right, I don't know, but what a publicly-traded company pays in actual cash taxes is very different from the taxes charged on the income statement.
The CBO released a report a few years ago concluding that a third of all large corporations in America paid no taxes in ten years.
Also, the effective tax rate for large corporations in America is, or at least was, 6%.
