Most US Companies avoid paying income tax

[chopcrazy]

he gives the COMPLETE picture, you on the otherhand, ARE NOT Chop!


you are giving an accounting for only Income taxes, which pay for ONLY 33% of our expenditures of the Federal Budget....THIS IS WHAT the wealthy want you to do, and not look at the whole picture....

care

Well then lets start drawing the picture. Here is how I see it.

There are two budgets - off and on. Off -Budget is for Social Security and On-Budget is for other stuff (national defense, education, energy, medicare, etc.) Income taxes and Medicare Tax support expenditures related to the On-Budget. Payroll taxes (FICA) support expenditures related to Off-Budget.

FY2007 Outlays
On-budget = 2.3 trillion
Off-budget = 453 billion

The FY2007 On-Budget estimates are as follows:
Receipts: $1.8 trillion
and is broken down by
Individual income tax = 1.1 trillion
Corp income tax = 0.3 trillion
social insurance and retirement = 0.2 trillion
Excise and Other = 0.2 trillion

Fy2007 Off-Budget receipt estimates are 642 billion for total receipts of roughly $2.4 trillion.


There is the picture as I see it.

As you can see there is a deficit for the On-budget. Either tax receipts have to be increased and/or spending has to decrease. As I said earlier, if Congress deems it necessary to increase taxes (increase receipts) by changing capital gains/dividend rate, income tax rate, so be it . The point is the top 40% will pick up the tab...fair or unfair...it is reality. The receipts pool is what it is. I doubt you will want to change the composition of who contributes what b/c the lower 60% contribute very little.

I am unclear as to why your point that payroll fica tax stops at 100k is unfair. This money goes to a different budget and has different outlays. The outlay (social security retirement) is based upon what you contribute. There are a bunch of rules about age and income that play apart in this. Should your social security check (retirement) be based on what you contribute or on what some one else contributes?

Here is the link Budget of the United States Government: Historical Tables Fiscal Year 2007

 

[Article 15]

So what? Again you have no problem with people singing Obama's praise, scripted or not. How about you take your fascist desire to silence the opposition and stuff it in the correct hole?

lol ... you are truly some piece of work, Sarge ... there is a clear difference between cutting and pasting talking points for prizes and simply arguing your candidates side ... if you hadn't noticed I don't blindly attack McCain supporters for simply promoting their own candidate their own way ... why don't you find another tree to bark up ... I am unimpressed with your wannabe e-tough guy style.

 

[sealybobo]

lol ... you are truly some piece of work, Sarge ... there is a clear difference between cutting and pasting talking points for prizes and simply arguing your candidates side ... if you hadn't noticed I don't blindly attack McCain supporters for simply promoting their own candidate their own way ... why don't you find another tree to bark up ... I am unimpressed with your wannabe e-tough guy style.

Ha Ha Sarge. He sees it too. Tough guy.

 

[Annie]

Wow this thread is long, returning to the OP, was this added to the thread? From today's NY Times:

Corrections - NYTimes.com

Corrections


Published: August 13, 2008

Business Day

An article on Wednesday about a Government Accountability Office study reporting on the percentage of corporations that paid no federal income taxes from 1998 through 2005 gave an incorrect figure for the estimated tax liability of the 1.3 million companies covered by the study. It is not $875 billion. The correct amount cannot be calculated because it would be based on the companies’ paying the standard rate of 35 percent on their net income, a figure that is not available. (The incorrect figure of $875 billion was based on the companies’ paying the standard rate on their $2.5 trillion in gross sales.) (Go to Article)

The whole article was designed to make those that see 'evil business' in the worst possible light. Even I, no fan of the NY Times think their business writers so ignorant as to not know that most businesses in US are small, most small businesses in any given year make no profit, after costs. Thus pay NO TAXES. Just like those of us individuals making below a certain threshold.

 

[jreeves]

he said your links are dead dumb shit. Please explain how the top 1% paid more under bush. I can't wait to disprove it.

Pay special attention to the graph on the left dumbass....

 

[editec]

The calculations use the 2008 FICA income limit of $102,000 with an annual maximum Social Security benefit of $26,220 per year for a single person and 1.5 times this amount for a married couple. To receive the maximum benefit would require earning the maximum FICA salary for nearly your entire career. You would also need to begin receiving benefits at your full retirement age of 66 or 67 (depending on your birthdate). Your actual benefit may be lower or higher depending on your work history and the complete compensation rules used by Social Security

source.

FYI, McCain gets about $22,000 a year in Social Security Bennies.

When he finally retires he'll be drawing THREE GOVERNMENT CHECKS...SS, military retirement and Congressional retirement.

But remember, now, everybody. John McCain wants to get government off your backs because he doesn't believe in socialism.

 

[sealybobo]

View attachment 5737

Pay special attention to the graph on the left dumbass....

They make all the money, they should pay all the taxes. Slave.

 

[RetiredGySgt]

source.

FYI, McCain gets about $22,000 a year in Social Security Bennies.

When he finally retires he'll be drawing THREE GOVERNMENT CHECKS...SS, military retirement and Congressional retirement.

But remember, now, everybody. John McCain wants to get government off your backs because he doesn't believe in socialism.

Ya cause actually EARNING retirement payments, one should refuse to accept them cause that is socialism at work. We have had THIS conversation.

 

[sealybobo]

source.

FYI, McCain gets about $22,000 a year in Social Security Bennies.

When he finally retires he'll be drawing THREE GOVERNMENT CHECKS...SS, military retirement and Congressional retirement.

But remember, now, everybody. John McCain wants to get government off your backs because he doesn't believe in socialism.

They are hypocrites.

 

[RetiredGySgt]

lol ... you are truly some piece of work, Sarge ... there is a clear difference between cutting and pasting talking points for prizes and simply arguing your candidates side ... if you hadn't noticed I don't blindly attack McCain supporters for simply promoting their own candidate their own way ... why don't you find another tree to bark up ... I am unimpressed with your wannabe e-tough guy style.

Mental midget are we? Keep calling me sarge and I will find some name you shall find discomforting for you.

 

[RetiredGySgt]

Ha Ha Sarge. He sees it too. Tough guy.

Another board retard. Bobo the chimp, keep calling me Sarge and we shall see how you like names.

 

[sealybobo]

Another board retard. Bobo the chimp, keep calling me Sarge and we shall see how you like names.

Now why would you reveal that? Idiot! I didn't know it bothered you. Now of course I won't call you anything but that name. You screwed yourself.

 

[RetiredGySgt]

Now why would you reveal that? Idiot! I didn't know it bothered you. Now of course I won't call you anything but that name. You screwed yourself.

No problem you turd. BooBoo bear has not got enough tinfoil for his hat today.

 

[editec]

Ya cause actually EARNING retirement payments, one should refuse to accept them cause that is socialism at work. We have had THIS conversation.

Yeah he earned it.

As did you.

Something else we discussed already, remember?

I point this out only because, while John Mcain talks about how we need to end Social Security, he still takes the money even though he surely doesn't need it.

His hypocracy is the point, not that he doesn't deserve those checks.

Just as I pointed out that you are the beneficiary of the government's pension and that you have therefore never really lived in a captialist society that you apparently think all we liberals so hate.

What the hell do you or McCain know about the flaws of the capitalist society most of us have had to live with our entire lives?

You and John apparently never really lived in one.

 

[sealybobo]

Yeah he earned it.

As did you.

Something else we discussed already, remember?

I point this out only because, while John Mcain talks about how we need to end Social Security, he still takes the money even though he surely doesn't need it.

His hypocracy is the point, not that he doesn't deserve those checks.

Just as I pointed out that you are the beneficiary of the government's pension and that you have therefore never really lived in a captialist society that you apparently think all we liberals so hate.

What the hell do you or McCain know about the flaws of the capitalist society most of us have had to live with our entire lives?

You and John apparently never really lived in one.

 

[Bern80]

Anyways, now you know that you are full of shit. Corporations are not paying their fair share of taxes. They can show you all their fuzzy math, but in the end, Corporations are not paying enough in taxes. That means you are shouldering more of the burden, dummy.

Where did this whole idea that government collecting more money, when they spend it so poorly, is a good thing?

That seems to be your ultimately ridiculous goal just get more money to government right?

 

[sealybobo]

Where did this whole idea that government collecting more money, when they spend it so poorly, is a good thing?

That seems to be your ultimately ridiculous goal just get more money to government right?

Why are you fighting to help corporations and rich people pay less in taxes when you know the tax burden will ultimately fall on you?

I know what you are saying. You are dead wrong. That's right wing talk. To suggest that I don't want the government to spend less is silly. And then I want all of our taxes to go down. Not just the rich.

And to compound the problems, the GOP spent more than ever before.

And their unfair tax breaks to the rich didn't work. I say giving the middle class a tax break is what will fix the economy. So let's try that next.

And I don't want corporations and rich people paying zero taxes either. How do you feel about people who don't pay their taxes? Traitors? Unpatriotic?

The rich and powerful look down on us and laugh that people like you defend them. Without you, they wouldn't be as powerful as they are. They would always be rich, but with you they also get power!!! Sucker.

 

[Bern80]

According to GAO, you are wrong. Most aren't paying any taxes.

And yes, Ford & GM are operating at a loss. Why? Because their executives have multi million dollar salaries. Even mid level HR people are making $200K plus bonus'.

No wonder they operate at a loss. Making cars is just an excuse to do business. Screw the stakeholders/shareholders. What's important is that the CEO makes $20 million plus this year.

So what is your real goal? Have ever really stopped to think about what the real world results would be if things were they way you want them to be? The end game result in your world is everyone should make less money and that we should all only have as much as our lowest common denominator. Sound like an awesome plan.

 

[Bern80]

Why are you fighting to help corporations and rich people pay less in taxes when you know the tax burden will ultimately fall on you?

I know what you are saying. You are dead wrong. That's right wing talk. To suggest that I don't want the government to spend less is silly. And then I want all of our taxes to go down. Not just the rich.

And to compound the problems, the GOP spent more than ever before.

And their unfair tax breaks to the rich didn't work. I say giving the middle class a tax break is what will fix the economy. So let's try that next.

And I don't want corporations and rich people paying zero taxes either. How do you feel about people who don't pay their taxes? Traitors? Unpatriotic?

The rich and powerful look down on us and laugh that people like you defend them. Without you, they wouldn't be as powerful as they are. They would always be rich, but with you they also get power!!! Sucker.

How will it fix the economy? The idea behind a tax break, especially for the rich, and coroporation is that they will use the money that they would have been taxed to grow their businesses resulting in the need to hire more people and/or give raises. That's how the economy turns around. how exactley is the middle class getting a tax break going to create more jobs? How exactley is a relatively small tax break going to lead to some huge influx of cash into the economy?

 

[sealybobo]

So what is your real goal? Have ever really stopped to think about what the real world results would be if things were they way you want them to be? The end game result in your world is everyone should make less money and that we should all only have as much as our lowest common denominator. Sound like an awesome plan.

Were you born in 2000? The 90's were a rip roaring time. Anyone that says we can't get back to those times is a liar. They just don't want to go back to those times.

Time when we were the largest creditor, not the largest debtor. Time when we made and sold things. Time when employees made a little bit more and executives made a little bit less.

The gap between the rich and poor got wider. That's not good. Is it? Tell me why that's good?

It's much more than that, but I don't want to lose you so we'll start with this. Why did the rich have to get richer and the poor had to get poorer? That was the GOP's decision, and you bought it. They said they couldn't afford to pay us as much as they used to so they took away and then the very next year gave themselves million dollar raises.

They said we had to do free trade, but didn't make it fair trade to protect American workers. Every other country protects their own economy by not outsourcing everything. Now that even Boeing is losing to Lockhead, or whatever that overseas company is that is competing for DEFENSE jobs. I'm telling you brother that GOPanomics are going to hit EVERYONE if the GOP stay in power. Good luck. Your job is safe for now. Hope it stays that way.