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They pay lots of taxes. Payroll taxes. Personal and property taxes. Sales taxes. Use taxes.
Why should the name of a company, or its industry, determine whether they pay Federal corporate income taxes?
It doesn't matter, because many individuals who own corporations file as individuals.
That is less than a moot point.
Corporations pay nearly nothing in dividends and reinvest most of their earnings into growth. They are also immortal.If they aren't taxed annually on profits they are never taxed at all, ever.
So what? Do their reinvestments generate no taxable activity? Purchases of plants, equipment or other taxable transactions?
That is less than a moot point.
Corporations pay nearly nothing in dividends and reinvest most of their earnings into growth. They are also immortal.If they aren't taxed annually on profits they are never taxed at all, ever.
So what? Do their reinvestments generate no taxable activity? Purchases of plants, equipment or other taxable transactions?
According to Milton Friedman, none.
If you don't tax corporations annually on profits they will never pay a penny of tax. They may collect taxes for the government like an agent, but they themselves won't pay any at all.
But you are prolly a whole lot smarter on this stuff than Milton. He merely founded the dominant economic ideology of our times.
There should be no corporate income tax. The most successful companies don't pay any corporate income taxes anyhow.
of course they do
Which crimes have corporations committed that they were not prosecuted for?
Real crimes, not ones you make up in your small head.
You see, idiot, corporations have the ability to avoid taxes, so you may as well tax them on something that reflects their growth and contribution to the economy, not profits.
You see, idiot, corporations have the ability to avoid taxes, so you may as well tax them on something that reflects their growth and contribution to the economy, not profits.
Profits is the best way to tax them on "something that reflects their growth and contribution to the economy".
But more on point corps should be taxed to the degree that they benefit from social infrastructure. And to the degree that they use social infrastructure.
Corporations owe their very existence to society, they should repay society for what they consume.
The White House is also advancing a rapprochement with the U.S. Chamber of Commerce, the capital's biggest, richest business lobby, which has clashed repeatedly with the administration on a range of issues. On Wednesday, the White House said Mr. Obama would address members of the chamber for the first time at the group's Washington headquarters on Feb. 7.
I hope they serve him up some "crow".
"The U.S. Chamber of Commerce is under fire from some local chambers over its hard-hitting $75 million ad campaign to elect a Republican House, with dozens of hometown groups distancing themselves from the effort and a handful even quitting the national group in protest.
We were getting pounded. We felt here, in Central Pennsylvania, that the ads they were running were not professional ads, said David Wise, president of the Chamber of Business and Industry of Centre County, which is considering dropping its national membership. This was not a unifying event. It was divisive.
More than 40 local chambers issued statements during the midterms distancing themselves from the U.S. Chambers campaign including nearly every major local Chamber in Iowa and New Hampshire, key states in the presidential campaign.
Other chambers plan to take the extraordinary step of ending their affiliation with the U.S. Chamber, including The Greater Philadelphia Chamber of Commerce."
If you think making big bucks is a crime, then you're fucked up beyond all hope.
