Now, they will feign outrage about any company getting tax relief, which always leads to business expansion and hiring.
When the left credit their black messiah did good things for the economy, do they know he did things like this?
I personally did not mind that. Leads to hiring.
The left now all of a sudden go to their bullshit claims.
Such fucking ignorant losers.
Yes we did mind that GE paid no taxes.
Twice as many companies paying zero taxes under Trump tax bill
/----/ "Yes we did mind that GE paid no taxes."
Then you're not very astute when it comes to business. So tell us, why do you care?
Great question you house slave.
Nobles Need Not Pay Taxes
Corporations are taxed because they use public services, and are therefore expected to help pay for them - the same as citizens.
Corporations make use of a work force educated in public schools paid for with tax dollars. They use roads and highways paid for with tax dollars. They use water, sewer, and power and communications rights-of-way paid for with taxes. They demand the same protection from fire and police departments as everybody else, and enjoy the benefits of national sovereignty and the stability provided by the military and institutions like NATO and the United Nations, the same as all residents of democratic nations.
In fact, corporations are heavier users of taxpayer-provided services and institutions than are average citizens. Taxes pay for our court systems, which are most heavily used by corporations to enforce contracts. Taxes pay for our Treasury Department and other governmental institutions which maintain a stable currency essential to corporate activity. Taxes pay for our regulation of corporate activity, from assuring safety in the workplace to a pure food and drug supply to limiting toxic emissions.
Under George W. Bush, the burden of cleaning up toxic wastes produced by corporate activity has largely shifted from polluter-funded Superfund and other programs to taxpayer-funded cleanups (as he did in Texas as governor there before becoming President).
Every year, millions of cases of cancer, emphysema, neurological disorders, and other conditions caused by corporate pollution are paid for in whole or in part by government funded programs from Medicare to Medicaid to government subsidies of hospitals, universities, and research institutions funded by tax dollars through the NIH and NIMH.
Because it's well understood that corporations use our tax-funded institutions at least as heavily as do citizens, they've traditionally been taxed at similar rates. For example, the top corporate tax rate in the US was 48% during the Carter administration, down from the a peak of 53% during the Eisenhower and Kennedy years.
Today it stands at 35%, but in May of 2001 Bush administration Treasury Secretary Paul O'Neill suggested there should be no corporate income tax whatsoever. This was the opening salvo in a very real war to have working people bear all the costs of the commons and governance, while the wealthy corporate elite derive most of its benefits.
And, as George H.W. Bush pointed out when he was president, this isn't just an American phenomenon. It's a New World Order.
/----/ I get it. This is how you sell higher indirect taxes on the poor who pay no income tax. You kick them in the nuts with an indirect tax disguised at the populist tax on corporations. BRILLIANT.
It took some digging but here is the proof:
Operating Costs
The rental of computer systems or other technology-related expenses are included in this category. Postage and office supplies are operating costs most companies incur on a monthly basis. Taxes or license fees the company pays on a scheduled basis are also part of operating costs. Dues for memberships or subscriptions to publications are other overhead costs often incurred. What Is Corporate Overhead Cost?
Huh?
You don't realize this tax break will eventually shift the tax burden more onto us, the middle class?
Ryan’s Secret Plan to Shift the Tax Burden Onto the Middle Class - Center for American Progress
/-----/ "HUH?"
Oh, don't be so clever by playing stupid. Here is some more proof you can use to fool the poor into paying indirect taxes all day long:
Examples of Overhead Costs
Overhead costs are a key component for making up the total cost to run a business, and are made up of ongoing costs that must be paid regardless of the company’s current volume of business. Direct labor costs, direct materials and direct costs (like raw materials), however, are not overhead costs. Common overhead costs and overhead expenses include:
- Rent and Utilities
- Repairs and Maintenance
- Insurance
- Office Supplies
- Accounting
- Taxes
- Human Resources (Only salaries for administrative employees that handle tasks like hiring, onboarding, etc. Does not apply to non-HR staff.)