francoHFW
Diamond Member
Jeebus what a stupid arrogant a-hole. Congrats on your good luck. Enjoy hell.
Why can't Public Assistance increase?
- Thread starter Czernobog
- Start date
Conservative65
Gold Member
- Oct 14, 2014
- 26,127
- 2,208
- 265
- Banned
- #1,802
I bet you think what you support it good.
Tell me what's good about rewarding a bunch of illegals that broke the law to get here with "immigration reform"? Tell me what's good with paying someone a higher wage than their skills are worth? Tell me what's good about funding college for a kid whose own parents don't think enough about him/her to do it?
francoHFW
Diamond Member
Total, idiotic, brainwashed pie in the sky functional stupidity. Your party invited them in with total refusal of good ID, an infrastructure bank is a cheap way to invest in YOUR greedy idiot party's ruin of a country (all to bloat the rich and giant corps), dupe, they earn the hell out of it- or would if they were paid enough to care. This country absolutely suqs after 35 years of your stupid bs.
francoHFW
Diamond Member
According to a brainwashed functional moron like you. After 30 years of Voodoo: worst min. wage, work conditions, illegal work safeguards, vacations, work week, college costs, rich/poor gap, upward social mobility, % homeless and in prison EVAH, and in the modern world!! And you complain about the victims? Are you an idiot or an A-hole?
francoHFW
Diamond Member
Guess what- Your big orange idiot's ridiculous plan is just more RW idiocy that will do nothing to end the illegals- the jerks who run the GOP LOVE them, idiot.
Boss
Take a Memo:
Well Joe, I am sorry that I misunderstood your post as something pertinent to the point of the argument you were making. You spoke of your job, "receiving funding", and praised government research. Now I understand you're talking about corporate funding which is a byproduct of successful capitalism... has nothing to do with government research or any symbiotic relationship with government.
And no... it's a not a chicken and egg debate, we know clearly that people came before government. We made the government the government didn't make us. The ONLY aspect in which there is anything you can define as a symbiotic relationship is that the government is there to protect your freedom to participate in free market capitalism through free enterprise.
Conservative65
Gold Member
- Oct 14, 2014
- 26,127
- 2,208
- 265
- Banned
- #1,807
No one received an invitation. I've addressed how to solve both the illegal problem and social welfare leech problem. Deport all illegals and offer those jobs to the welfare leeches. If the leeches say no, no more handouts. Two problem solves.
Boss
Take a Memo:
Okay moron... read your challenge CAREFULLY.... I asked you to show 3 corporations who 1) Paid zero US taxes AND 2) Collected sales in the US. You cited a list of propaganda links which show such nuggets as "General Electric, Boeing, Verizon and 23 other profitable Fortune 500 firms paid no federal income taxes from 2008 to 2012" BUT... what the propagandists FAIL to mention is their sales. You see, whenever your expenses are more than your profits, you show a loss and you don't pay taxes on a loss. Now, just so happens, between '08-'12, we went through a major recession and many businesses who didn't completely tank, didn't show a profit.
But propagandists rely on really stupid people who don't comprehend that "revenues collected" is not profits made. And so, you can manipulate statistics to show something seemingly outrageous or unethical. The only person being unethical is you... the propagandist.
francoHFW
Diamond Member
Just as good as an invitation. Illegals can easily get fake SS cards and ID. In 2007 Pew found that 94% of illegal males worked, 65% pay taxes and 35% owned homes. To turn around and deport them is racist idiocy for bigot dupes in the real world. Welcome to reality. Pass the gd bill with good ID, get 100% paying taxes- HUGE for economy AND END the gd problem forever.
francoHFW
Diamond Member
"PROFITABLE". Also before and AFTER that period. Propagandists don't have facts, dupe. Like all you morons saying we have the highest corporate taxes in the world. LOL. Only on small business...Thanks GOP
francoHFW
Diamond Member
LOL, who's the moron ?
Fifteen (of Many) Reasons Why We Need Corporate Tax Reform
April 9, 2015 12:49 PM | Permalink |
Companies From Various Sectors Use Legal Tax Dodges to Avoid Taxes
Read this report in PDF.
This CTJ report illustrates how profitable Fortune 500 companies in a range of sectors of the U.S. economy have been remarkably successful in manipulating the tax system to avoid paying even a dime in tax on billions of dollars in U.S. profits. These 15 corporations’ tax situations shed light on the widespread nature of corporate tax avoidance. As a group, the 15 companies paid no federal income tax on $23 billion in profits in 2014, and they paid almost no federal income tax on $107 billion in profits over the past five years. All but two received federal tax rebates in 2014, and almost all paid exceedingly low rates over five years.
Companies Represent Diverse Economic Sectors
The companies profiled here represent a range of segments of the U.S. economy:
- Broadcaster CBS Corporation enjoyed $1.8 billion in U.S. profits last year, and received a federal income tax rebate of $235 million.
- Doll-maker Mattel, which has paid zero federal income taxes over the past five years, received a tax rebate of $46 million in 2014.
- The financial services corporation Prudential avoided all federal income taxes on its $3.5 billion in U.S. profits in 2014.
- Ryder System, which provides truck rentals and services, paid a negative 0.3 percent federal income tax rate in 2014 and over the past five years a negative 0.5 percent rate.
- California-based utility PG&E had negative tax rates both in 2014 and over the five-year period.
Fifteen (of Many) Reasons Why We Need Corporate Tax Reform | CTJReports
francoHFW
Diamond Member
Same link:
Companies’ Low Taxes Stem from a Variety of Legal Tax Breaks
While recent policy discourse has focused on multinational corporations that use offshore tax havens to minimize their tax liability, the companies profiled here appear to be using a diverse array of other tax breaks to zero out their federal income taxes:
Jetblue, PG&E, PEPCO Holdings and Ryder used accelerated depreciation, a tax break that allows companies to write off the cost of their capital investments much faster than these investments wear out, to dramatically reduce their tax rates. CTJ has estimated that closing the accelerated depreciation loophole could raise more than $428 billion over the next decade.[ii] Both Congress and President Barack Obama, however, have supported expanding the scope of this tax break in recent years.
Priceline relied heavily on a single tax break — writing off the value of executive stock options for tax purposes — to zero out its tax liability not just in 2014 but in 2013, 2012 and 2011 as well. In addition, the company admits that this tax break could offset all taxes on up to $1.2 billion in profits going forward. Mattel also reports enjoying $140 million in stock option tax breaks over the past five years. Former U.S. Senator Carl Levin (D-MI) has estimated that this tax break will costs $23 billion over the next decade.[iii]
Qualcomm has enjoyed more than $290 million in research and development tax breaks over the past three years. The R&E tax credit has been criticized for rewarding companies for “research” they would have done anyway, as well as rewarding research in areas such as fast-food packaging.[iv]
General Electric uses the “active financing” tax break as one of many ways that it eliminates its U.S. income tax bill.[v] This arcane tax break allows some multinational financial institutions to avoid paying income taxes to any government on their international financing activities. The Joint Committee on Taxation estimates the current ten-year cost of this provision to be $70.2 billion.[vi]
Corporate Tax Reform Should Repeal Tax Loopholes and Restore Overall Corporate Tax Revenues to a More Reasonable Level
In recent years, the public’s attention has been drawn to the elaborate tax avoidance mechanisms used by a few huge corporations such as General Electric, Apple, Microsoft and others. But as this report indicates, the scope of corporate tax avoidance goes well beyond these few companies and spans a wide variety of economic sectors. Moreover, the tax breaks that have allowed these companies to be so successful in their tax avoidance are, by and large, perfectly legal, and often have been on the books for decades.
As Congress focuses on strategies for revamping the U.S. corporate income tax, a sensible starting point should be to critically assess the costs of each of these tax breaks and to take steps to ensure that profitable corporations pay their fair share of U.S. taxes.
The next step is just as important. The revenues raised from eliminating corporate tax subsidies should not be given right back to corporations in the form of tax-rate reductions, as corporate lobbyists and their allies inside the Washington Beltway preposterously argue. Instead, as the vast majority of Americans understand, these desperately needed revenues should be used to address our nation’s fiscal problems and to make critically needed public investments in our nation’s future.
Accelerated depreciation and the stock options loophole, and how Congress could raise revenue by repealing them, are described in Citizens for Tax Justice, “Policy Options to Raise Revenue,” March 8, 2012. Policy Options to Raise Revenue | CTJReports The “active financing exception” is described in Citizens for Tax Justice, “Don't Renew the Offshore Tax Loopholes,” August 2, 2012. Don't Renew the Offshore Tax Loopholes | CTJReports
[ii] Citizens for Tax Justice, "Addressing the Need for More Federal Revenue," July 8, 2014.http://ctj.org/pdf/policyoptions2014.pdf
[iii] Ibid.
Companies’ Low Taxes Stem from a Variety of Legal Tax Breaks
While recent policy discourse has focused on multinational corporations that use offshore tax havens to minimize their tax liability, the companies profiled here appear to be using a diverse array of other tax breaks to zero out their federal income taxes:
Jetblue, PG&E, PEPCO Holdings and Ryder used accelerated depreciation, a tax break that allows companies to write off the cost of their capital investments much faster than these investments wear out, to dramatically reduce their tax rates. CTJ has estimated that closing the accelerated depreciation loophole could raise more than $428 billion over the next decade.[ii] Both Congress and President Barack Obama, however, have supported expanding the scope of this tax break in recent years.
Priceline relied heavily on a single tax break — writing off the value of executive stock options for tax purposes — to zero out its tax liability not just in 2014 but in 2013, 2012 and 2011 as well. In addition, the company admits that this tax break could offset all taxes on up to $1.2 billion in profits going forward. Mattel also reports enjoying $140 million in stock option tax breaks over the past five years. Former U.S. Senator Carl Levin (D-MI) has estimated that this tax break will costs $23 billion over the next decade.[iii]
Qualcomm has enjoyed more than $290 million in research and development tax breaks over the past three years. The R&E tax credit has been criticized for rewarding companies for “research” they would have done anyway, as well as rewarding research in areas such as fast-food packaging.[iv]
General Electric uses the “active financing” tax break as one of many ways that it eliminates its U.S. income tax bill.[v] This arcane tax break allows some multinational financial institutions to avoid paying income taxes to any government on their international financing activities. The Joint Committee on Taxation estimates the current ten-year cost of this provision to be $70.2 billion.[vi]
Corporate Tax Reform Should Repeal Tax Loopholes and Restore Overall Corporate Tax Revenues to a More Reasonable Level
In recent years, the public’s attention has been drawn to the elaborate tax avoidance mechanisms used by a few huge corporations such as General Electric, Apple, Microsoft and others. But as this report indicates, the scope of corporate tax avoidance goes well beyond these few companies and spans a wide variety of economic sectors. Moreover, the tax breaks that have allowed these companies to be so successful in their tax avoidance are, by and large, perfectly legal, and often have been on the books for decades.
As Congress focuses on strategies for revamping the U.S. corporate income tax, a sensible starting point should be to critically assess the costs of each of these tax breaks and to take steps to ensure that profitable corporations pay their fair share of U.S. taxes.
The next step is just as important. The revenues raised from eliminating corporate tax subsidies should not be given right back to corporations in the form of tax-rate reductions, as corporate lobbyists and their allies inside the Washington Beltway preposterously argue. Instead, as the vast majority of Americans understand, these desperately needed revenues should be used to address our nation’s fiscal problems and to make critically needed public investments in our nation’s future.
Accelerated depreciation and the stock options loophole, and how Congress could raise revenue by repealing them, are described in Citizens for Tax Justice, “Policy Options to Raise Revenue,” March 8, 2012. Policy Options to Raise Revenue | CTJReports The “active financing exception” is described in Citizens for Tax Justice, “Don't Renew the Offshore Tax Loopholes,” August 2, 2012. Don't Renew the Offshore Tax Loopholes | CTJReports
[ii] Citizens for Tax Justice, "Addressing the Need for More Federal Revenue," July 8, 2014.http://ctj.org/pdf/policyoptions2014.pdf
[iii] Ibid.
OnePercenter
Gold Member
- Apr 10, 2013
- 23,667
- 1,882
- 265
A subsidy is monetary assistance granted by a government. Aren't tax breaks monetary assistance?
OnePercenter
Gold Member
- Apr 10, 2013
- 23,667
- 1,882
- 265
If new drivers are hard to insure, why do the big three; JB, Schneider, and Swift make tens of billions in profit each year hiring new drivers?
Boss
Take a Memo:
Well before and after that period, if they showed a profit they paid taxes. See, if you don't show profit there is nothing to tax. We don't tax based on dollars collected. There are expenses to pay, deductions to be claimed, maybe even incentives or credits and write-offs. Those things are all calculated and a tax liability is established. In the examples listed, there was apparently no tax liability due to the recession. I don't KNOW this, I've not dug into it... could be it's a complete fabrication... but that's my guess, if the claim is as stated.
And the fact also remains that we have the highest corporate tax rates of any industrialized nation. Corporate tax has absolutely nothing to do with Small Businesses which all file (by matter of law) as individuals paying earned income tax. When we hear your rhetoric about "those who make over $250k per year" ....that's MOSTLY the Small Businesses filing as individuals, which ALL Small Businesses do.
Now... I know that you will retort with some bullshit about LLCs and such... but an LLC is a corporation, not a small business. It may be small and it may be a business, but legally it is no longer classified as a Small Business for tax purposes. EVERY Small Business files it's taxes as an individual on an individual 1040 tax return.
Boss
Take a Memo:
LOL, who's the moron ?
Fifteen (of Many) Reasons Why We Need Corporate Tax Reform
April 9, 2015 12:49 PM | Permalink |
Companies From Various Sectors Use Legal Tax Dodges to Avoid Taxes
Read this report in PDF.
This CTJ report illustrates how profitable Fortune 500 companies in a range of sectors of the U.S. economy have been remarkably successful in manipulating the tax system to avoid paying even a dime in tax on billions of dollars in U.S. profits. These 15 corporations’ tax situations shed light on the widespread nature of corporate tax avoidance. As a group, the 15 companies paid no federal income tax on $23 billion in profits in 2014, and they paid almost no federal income tax on $107 billion in profits over the past five years. All but two received federal tax rebates in 2014, and almost all paid exceedingly low rates over five years.
Companies Represent Diverse Economic Sectors
The companies profiled here represent a range of segments of the U.S. economy:
All 15 companies’ effective federal income tax rates for 2014 and the five-year period between 2010 and 2014 are shown in the table below:
- Broadcaster CBS Corporation enjoyed $1.8 billion in U.S. profits last year, and received a federal income tax rebate of $235 million.
- Doll-maker Mattel, which has paid zero federal income taxes over the past five years, received a tax rebate of $46 million in 2014.
- The financial services corporation Prudential avoided all federal income taxes on its $3.5 billion in U.S. profits in 2014.
- Ryder System, which provides truck rentals and services, paid a negative 0.3 percent federal income tax rate in 2014 and over the past five years a negative 0.5 percent rate.
- California-based utility PG&E had negative tax rates both in 2014 and over the five-year period.
Fifteen (of Many) Reasons Why We Need Corporate Tax Reform | CTJReports
This is just MORE propaganda where people have manipulated the data to support your meme. I'm sorry... that's all it is. There is TONS of it online because Marxists have nothing better to do than churn out more and more misleading and dishonest propaganda. Why? Because dumb little piss ants like YOU buy it! You're too stupid to figure out how you're being lied to and manipulated. It's easier for you to just believe this nonsense because you've been brainwashed to think capitalism is evil. Lenin had a term for you... "Useful Idiots."
OnePercenter
Gold Member
- Apr 10, 2013
- 23,667
- 1,882
- 265
A contract implies some kind of negotiation takes place. Not so. Employers, especially today, pay what everyone else pays (a racket) except for me, I'm smarter and better financed than my competition.
OnePercenter
Gold Member
- Apr 10, 2013
- 23,667
- 1,882
- 265
A CDL school DOESN'T teach you to drive a truck, they teach you to pass the CDL test.
Why would your employer (a truck company owner) send his son to a CDL school get his license? Wouldn't it be smarter and cheaper to have him take the written test for his permit and send him out with you to develop skills?
francoHFW
Diamond Member
No, MANY giant corps make huge profits and pay NO taxes or even get more money back from the IRS. Small businesses pay much more than the effective corporate rate of 12%, a joke.
OnePercenter
Gold Member
- Apr 10, 2013
- 23,667
- 1,882
- 265
Penske won't because of resale. UPS (for the most part) doesn't sell their trucks, they part them out.
Also, Penske (like me) doesn't buy tens of thousands of trucks per year. UPS gets whatever they want. It's known as the UPS spec.
Similar threads
New Topics
-
-
Russia Remade Its Economy for War, but It’s Come at a Huge Cost - The New York Times- Started by peacefan
- Replies: 0
-
-
Latest Discussions
-
-
-
Like him or hate him...Trump is doing a pretty good job at taking over the world.
- Latest: MostBoringManInTheWorld
