Gawd Bless Tax Havens.

[Creek_George]

I'm far from the guy you'd ask when it comes to taxes..and big business.

I do feel the new guy starting a business is faced with a long road ahead of him..It's the first couple years..that are the most crucial....They are essential....(tax breaks).

Are these tax breaks as equaly to small & new business?...I think not..and thus is slowly starting to make the gap ever the more big in who's paying what.

It's no secret that the middle class in this country may soon be a thing of the past...

I'm starting to hear from my middle class friends...That there life is a hell of alot easier making under 25,000...than 45,000 a year..Because of the generous breaks to those who make under so much a year etc..

Here I am..single..made alot more...and thus his handed to those who qualify for a break....I aint bitching about that...If there is a tax break out there..it's natural to go for it...

You average America..(speaking for myself)..don't know shit about this...but see alot on outa balance laws.

Tax breaks are for the rich..and for the poor..If you're single..and in the middle ground..it's almost like highway robery.

I also know it's the top what?..30-40% of wealthy people pay a dam good share...compared to the family with 3 kids,house payments to make etc...who sometimes get more than they actualy paid in...get back.

Tax breaks help many...but there is a balance way outa wack...We shift it around it seems to each end of the stick.

You all made great points here.....But the day has come..when we need breaks for the middle class as well...For new business too...

That is not helping America.....It's the profit..not so much the loss these big businesses are worried about.

We made it many years..the small mom & pop groceries...

If I made less than 25,000 a year..I'd know my tax breaks & laws alot better...If I made 10,000,000 a year I'd know the breaks there too..

Stuck in the middle?...shit..

Hope I made some sense...

Creek

 

[red states rule]

This is one thing liberals will never admit - the "rich" pay a huge majority of taxes

It seems the only solution libs have for any problem is more more and higher taxes

Your friends (and you) got a tax break from Pres Bush - and Dems want it back

If you want to tax any activity you must encourage people to engange in that activity. Constantly raising taxes will not do that - it will discourage the activity and generate less revenue

 

[Superlative]

$71.9 billion from corporations and you are not happy? BTW that was much higher then the last year


US Treasury Sets New 1-Day Tax Receipt Record Of $85.8 Billion
Tuesday September 19th, 2006 / 0h04


WASHINGTON -(Dow Jones)- The U.S. government recorded record-high overall and corporate tax receipts on Sept. 15, which was a quarterly deadline for tax payments, the Treasury said Monday.
Total tax receipts were $85.8 billion on Friday, compared with the previous one-day record of $71 billion on Sept. 15 of last year, the Treasury said.
Within the overall figure, corporate tax receipts Friday were $71.8 billion, up from $63 billion in September of last year.
Treasury Undersecretary for Domestic Finance Randal Quarles said Friday's numbers provided a "continuing demonstration of the strength of the U.S. economy."
"In fact, Friday's gross receipts were the largest in a single day in the nation's history - 20% higher than receipts on the same quarterly tax payment date last year," Quarles said in a statement.
-By Benton Ives-Halperin, Dow Jones Newswires; 202-862-9255; [email protected]

According to Citizens for Tax Justice, 82 of 275 top U.S. corporations paid zero taxes between 2001 and 2003, although they earned $102 billion in pre-tax profits.

46 companies with a combined profit of $42.6 billion paid no federal income taxes in 2003 alone. Instead they received rebates totaling $5.4 billion.
Just imagine how much more it would be if all the corporations paid taxes.

 

[red states rule]

Just imagine how much more it would be if all the corporations paid taxes.

I know libs damn near have an orgasm on tax day

You mean just think how much more money would be taken out of the pockets of the Amercian people

 

[Superlative]

You mean just think how much more money would be taken out of the pockets of the Amercian people

The money has been paid to the corporations, it is already gone, its in TAX HAVENS.

 

[red states rule]

The money has been paid to the corporations, it is already gone, its in TAX HAVENS.

This is why corporations are setting up shop outside the US - they are becoming targets of the left

Libs seem to think corporations are in business only to pay the highest taxes possible to the government

 

[Superlative]

This is why corporations are setting up shpo outside the US - they are becoming targets of the left

Libs seem to think corporations are in business only to pay the highest taxes possible to the government

46 companies with a combined profit of $42.6 billion paid no federal income taxes in 2003 alone. Instead they received rebates totaling $5.4 billion.


Taxes are higher when your profits are high, like in the billions.

 

[hjmick]

Huh...Some interesting reading over the last three pages. Not a lot, but some. Corporate tax havens. Of course, if you're rich enough, offshore tax havens can be yours as well, you don't have to be a corporation. Why? Because that is the way the laws are written. Distasteful yes, but a person or corporation would be foolish not to take advantage of them. Especially a corporation, they have an obligation to their stock holders after all.

While I find the idea that, what? 82 major corporations? Did not pay federal taxes disgusting, if the laws are written in such a way that they are able to avoid them, the focus my ire is not the corporations. They are doing the right thing for investors and profits, anything less would almost be criminal. Again, on the subject of subsidies for some of these corporations, if the coporation is functioning within the law and said subsidies are legal...I can not bring myself to be angry with the corporation.

So, who gets to be the target of my frustration and anger? Why, that would be the lawmakers who make this all possible. The lawmakers who dine with lobbyists, the lawmakers who accept trips from lobbyists. The system must be changed at it's core. The system by which these corporations can influence lawmakers through their lobbyists. The Democrats and Republicans who allow themselves to be swayed with offers of travel, donations to their PACs and campaigns, and God knows what else. My anger is for the politicians who have forgotten for whom they work. Politicians from both sides of the aisle.

One of the first? Disallow federal subsidies for any corporation taking advantage of these offshore tax havens. This seems like the easiest place to start.

Should the laws allowing this sort of legal tax evasion be changed? Absolutely. Who knows, if corporations were paying their fair share, we as individuals would be able to pay less.

Should we be angry with the corporations for legally working the system? I don't think so. The fault lies with our representatives in D.C.


(If anyone is interested, I am a registered Republican, though I consider myself more of a Libertarian, à la Larry Elder. Socially liberal, fiscally and governmentally conservative. A Republiterian, if you will.)

 

[red states rule]

46 companies with a combined profit of $42.6 billion paid no federal income taxes in 2003 alone. Instead they received rebates totaling $5.4 billion.


Taxes are higher when your profits are high, like in the billions.

Your point?

Seems corportations are not doing anything illegal

 

[manu1959]

anyone know where corporate profits go?

to the corporate officers, shareholders, employees etc....

they in turn have their income taxed ...the rest they invest and spend...

i assume people would prefer that these profits are given to the people?

deal....but if we come up short one year i trust you will all chip in and pay my bills?

 

[red states rule]

anyone know where corporate profits go?

to the corporate officers, shareholders, employees etc....

they in turn have their income taxed ...the rest they invest and spend...

i assume people would prefer that these profits are given to the people?

deal....but if we come up short one year i trust you will all chip in and pay my bills?

Dems have seldom been known as a friend to business. Libs see the profits as money that would be better spent by the government

 

[manu1959]

Dems have seldom been known as a friend to business. Libs see the profits as money that would be better spent by the government

they seem to miss the point that the money gets taxed anyway....

 

[red states rule]

they seem to miss the point that the money gets taxed anyway....

It is taxed - but it seems libs want it taxed more

Which will cost people the moeny not the companies (and people thier jobs if the companies lay off people to offset the added expense)