Do Wealthiest Corporations Pay Taxes in America?

[Liability]

Communists don't pay taxes.

Simple as that.

You mean "simple-minded" as that.

Posted like a true expert.

Yes. I have been a long-suffering witness to a VERY lengthy parade of you simple-minded types.

It HAS in fact given me a trained batting-eye to identify you from FAR away, even before the stench you carry around with you arrives!

So, you see, you are identifiable from a VERY long distance.

 

[Dante]

I just finished Robert Kiyosaki's excellent book "Rich Dad, Poor Dad" and I highly recommend it. In it he writes; Because the way Tax Laws are written:

"The Rich with Corporations:
1. Earn
2. Spend
3. Pay Taxes

People who WORK FOR Corporations:
1. Earn
2. Pay Taxes
3. Spend

We PAY TAXES then SPEND WHAT'S LEFT. The rich SPEND FIRST because they PAY TAXES on WHAT'S LEFT". It's a way of thinking really.

The average person has been conditioned by schools to be good little worker bees and provide taxes to the government. They buy LIABILITIES but have FEW ASSETS. They buy a house and a car, both are liabilities.

The rich on the other hand buy ASSETS and MINIMIZE LIABILITIES. Assets put money in your pocket, liabilities take money out. It's that simple and it's just a way of thinking really.

Rich people buy assets, poor people buy liabilities.

Most people don't even know what the difference is between the two. Most people think a house is an asset, it isn't. Even when it's paid off it's still a liability. You have to pay property taxes, perform upkeep and maintenance. It takes money out of your pocket, it's a liability.

If on the other hand you own a home and it's rented to someone else for more than the monthly mortgage, it's an asset. What's more, many of those things you do for the upkeep of your home is tax deductible, thus minimizing your tax liability.

All that got me thinking, because I own one piece of rental property, that I SHOULD INCORPORATE! "Mad Scientist Real Estate Holdings". Hmmm.

(Sorry, I know this didn't really answer the OP's guestion)

playing the tax game and accumulating wealth is a personal option all people can partake of. the government (society) can always change the rules about taxes and corporations.

but accumulation of wealth in and of itself is not evil. vast accumulation of wealth is.

The Story of King Midas

Gekko: Well, I appreciate the opportunity you're giving me, Mr. Cromwell, as the single largest shareholder in Teldar Paper, to speak.

 

[Dante]

I guess people like Revere, a member @ USMB, think it's unfair for working class people to get tax refunds after paying a payroll tax, yet think it is fair for corporations to get tax refunds and pay nothing sometimes?

http://www.usmessageboard.com/politics/141353-unequal-distribution-of-wealth-35.html

 

[Revere]

Only idiots are too incompetent to plan their withholdings so they either owe a lot (and pay penalties) or wait months to get back money they earned last year.

 

[Dante]

Only idiots are too incompetent to plan their withholdings so they either owe a lot (and pay penalties) or wait months to get back money they earned last year.

this isn't about how people plan their finances. This is about national tax policies.

I know heroes like you who game a system think they are smarter than everyone else. You're not. you're just social ingrates who mistake self centered selfishness for something it is not - admirable.

 

[Revere]

Is it gaming the system to have no US profits but pay US income and corporate taxes?

 

[rdean]

I just finished Robert Kiyosaki's excellent book "Rich Dad, Poor Dad" and I highly recommend it. In it he writes; Because the way Tax Laws are written:

"The Rich with Corporations:
1. Earn
2. Spend
3. Pay Taxes

People who WORK FOR Corporations:
1. Earn
2. Pay Taxes
3. Spend

We PAY TAXES then SPEND WHAT'S LEFT. The rich SPEND FIRST because they PAY TAXES on WHAT'S LEFT". It's a way of thinking really.

The average person has been conditioned by schools to be good little worker bees and provide taxes to the government. They buy LIABILITIES but have FEW ASSETS. They buy a house and a car, both are liabilities.

The rich on the other hand buy ASSETS and MINIMIZE LIABILITIES. Assets put money in your pocket, liabilities take money out. It's that simple and it's just a way of thinking really.

Rich people buy assets, poor people buy liabilities.

Most people don't even know what the difference is between the two. Most people think a house is an asset, it isn't. Even when it's paid off it's still a liability. You have to pay property taxes, perform upkeep and maintenance. It takes money out of your pocket, it's a liability.

If on the other hand you own a home and it's rented to someone else for more than the monthly mortgage, it's an asset. What's more, many of those things you do for the upkeep of your home is tax deductible, thus minimizing your tax liability.

All that got me thinking, because I own one piece of rental property, that I SHOULD INCORPORATE! "Mad Scientist Real Estate Holdings". Hmmm.

(Sorry, I know this didn't really answer the OP's guestion)

In China they

WORK

60 to 70 hours a week.

and they

EARN

51 cents an hour.

I'm not even sure they pay

TAXES

and yet, I like our government way more than theirs. I bet they would like our government more, I mean, if they could vote.

You get what you pay for. Republicans have threatened to secede. Why don't they move to China? They would love it there.

 

[Revere]

Do you like that your government has to borrow heavily from China to survive?

 

[uscitizen]

And yet the mantra of corporate taxes keeping jobs down persists.

 

[Revere]

Which means, you really aren't "paying" for anything. You're running up a tab.

 

[Dante]

Is it gaming the system to have no US profits but pay US income and corporate taxes?

If a company wants to get American tax breaks and incentives, to use US R&D (tax payer funded), have US policy favor them, they should very well pay ******* American taxes.


The hell with multinational corps. Let them move their corp headquarters to countries where when they get out of line they'll get beheaded or their children will get raped and murdered, rather than be made to pay a tax -- if paying a tax is soooo bad.


Lots of corps want it both ways. Time to end the game.

 

[Revere]

Careful what you wish for. They will move, and only the serfs will be stuck here to work.

 

[Dante]

Which means, you really aren't "paying" for anything. You're running up a tab.

When investors take over a company and mortgage it, leverage it, they are running up a tab too, no? why a different standard?

 

[Revere]

Which means, you really aren't "paying" for anything. You're running up a tab.

When investors take over a company and mortgage it, leverage it, they are running up a tab too, no? why a different standard?

An acquisition is secured debt. The US is spitting out debt backed by nothing but paper. If you want to mortgage the US to China instead of merely selling it unsecured debt, then don't come bitching to me about how superior our government is to theirs.

 

[Dante]

Which means, you really aren't "paying" for anything. You're running up a tab.

When investors take over a company and mortgage it, leverage it, they are running up a tab too, no? why a different standard?

An acquisition is secured debt. The US is spitting out debt backed by nothing but paper. If you want to mortgage the US to China instead of merely selling it unsecured debt, then don't come bitching to me about how superior our government is to theirs.

why do you hate America?

 

[Revere]

If you're looking for someone who hates America, start with the guy with purple lips who needs to sell more and more debt to China to keep his scam alive.

 

[Dante]

If you're looking for someone who hates America, start with the guy with purple lips who needs to sell more and more debt to China to keep his scam alive.

Why do you hate the free market?

 

[JBeukema]

How much does Exxon pay in payroll taxes to the Federal government? Oil field leases?

Lots.

But ultimately, the people (i.e., us) who buy their product (i.e., gasoline) are the ones who actually pay for all of that in the form of higher price/gallon at the pump.

There's no way around it.

The costs get passed along. Taxes are just such a cost. So when they get passed along, the consumers end up paying.

And paying.

And paying.

And paying.

And paying.

And paying.

And did I mention paying?

If that were true, we wouldn't see the profit margins and CEO salaries and bonuses that we do

 

[JBeukema]

I just finished Robert Kiyosaki's excellent book "Rich Dad, Poor Dad" and I highly recommend it. In it he writes; Because the way Tax Laws are written:

"The Rich with Corporations:
1. Earn
2. Spend
3. Pay Taxes

People who WORK FOR Corporations:
1. Earn
2. Pay Taxes
3. Spend

We PAY TAXES then SPEND WHAT'S LEFT. The rich SPEND FIRST because they PAY TAXES on WHAT'S LEFT". It's a way of thinking really.

The average person has been conditioned by schools to be good little worker bees and provide taxes to the government. They buy LIABILITIES but have FEW ASSETS. They buy a house and a car, both are liabilities.

The rich on the other hand buy ASSETS and MINIMIZE LIABILITIES. Assets put money in your pocket, liabilities take money out. It's that simple and it's just a way of thinking really.

Rich people buy assets, poor people buy liabilities.

Most people don't even know what the difference is between the two. Most people think a house is an asset, it isn't. Even when it's paid off it's still a liability. You have to pay property taxes, perform upkeep and maintenance. It takes money out of your pocket, it's a liability.

If on the other hand you own a home and it's rented to someone else for more than the monthly mortgage, it's an asset. What's more, many of those things you do for the upkeep of your home is tax deductible, thus minimizing your tax liability.

All that got me thinking, because I own one piece of rental property, that I SHOULD INCORPORATE! "Mad Scientist Real Estate Holdings". Hmmm.

(Sorry, I know this didn't really answer the OP's guestion)

Gee, you just discovered the material difference between the labor class and the capital class.

proletariat and bourgeoisie...

 

[Dante]

How much does Exxon pay in payroll taxes to the Federal government? Oil field leases?

Lots.

But ultimately, the people (i.e., us) who buy their product (i.e., gasoline) are the ones who actually pay for all of that in the form of higher price/gallon at the pump.

There's no way around it.

The costs get passed along. Taxes are just such a cost. So when they get passed along, the consumers end up paying.

And paying.

And paying.

And paying.

And paying.

And paying.

And did I mention paying?

If that were true, we wouldn't see the profit margins and CEO salaries and bonuses that we do

It's all an illusion.