Hey American Big Business Get off Your Butts and Our Money Bring Us Jobs

[merrill]

Much of big time USA business are tax dollar moochers.... yes I know some love facism.

It just so happens I do not!

 

[merrill]

By David Zeiler, Associate Editor, Money Morning

If you weren't already irritated by the exorbitant paychecks U.S. CEOs routinely pull down, or the fact that U.S. corporations aren't bearing their share of the tax burden, wait until you get a load of this fun fact when those two issues are combined: D espite earning billions in profits, no less than 25 major U.S. firms paid less in federal income taxes last year than they paid their CEO.

And get this - most of those companies actually received tax refunds!

What makes this revelation particularly painful is that so many U.S. companies are minimizing their tax payouts just as this country more than ever needs to boost its revenue, nearly 97% of which comes from taxes of all types. It needs the revenue because of spiraling deficits, and a debt burden so large that it contributed to the United States losing its pristine AAA credit rating for the first time in more than 50 years.

Here's what's really galling: So many U.S. firms are paying so little in taxes because they're taking advantage of a perfectly legal loophole in American tax law. According to that law, a U.S. -dom iciled company doesn't have to pay any taxes on money it earns overseas until that money is repatriated back to this country. So U.S. firms leave their foreign earnings overseas, and report huge bottom-line profits as a result.

Even as you read this,

These U.S. Companies Made Billions in Profits – And Received a Federal Tax Refund! - Money Morning

 

[chanel]

Well Merrill - perhaps that ought to be changed. But that's not what the Dems are preaching. Going after multi-national corporations and going after Joe the Plumber are two separate issues.

Class warfare is personal and destructive.

 

[editec]

Internationalist corporations (like General Electric for example) aren't going to invest in the USA unless they can see a good return on investments in the USA.

Why should they?

They don't care what happens in this nation or any other.

Their task is to increase the profits and net worth of their corporations.

That is their ONLY mission.

 

[bripat9643]

Much of big time USA business are tax dollar moochers.... yes I know some love facism.

It just so happens I do not!

Yes, some do love fascism. They're called liberals.