1 2 3 > 
 
   
 

You Get What You Pay For

 
Cheshire Cat
 
Avatar
 
 
Cheshire Cat
Total Posts:  1316
Joined  01-11-2014
 
 
 
11 September 2019 14:10
 

This is especially true if you are a giant, global corporation.

Invest in buying a few politicians, especially Republicans during this Trump presidency, and watch your tax liability melt away like magic.

You paid more in taxes than Amazon, Eli Lilly, General Motors, Halliburton and Occidental Petroleum combined.

Check out the facts at the Institute on Taxation and Economic Policy website:

https://itep.org/notadime/

This ITEP report…finds that in 2018, 60 of America’s biggest corporations zeroed out their federal income taxes on $79 billion in U.S. pretax income. Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate, these companies enjoyed a net corporate tax rebate of $4.3 billion.

At a time when the public’s confidence in our elected officials and our institutions is especially low, the specter of big corporations avoiding all income taxes on billions in profits sends a strong and corrosive signal to Americans: that the tax system is stacked against them, in favor of corporations and the wealthiest Americans. Sustainable corporate tax reform that focuses on eliminating tax loopholes and shoring up revenues could help allay these fears and can be a vital tool for addressing our nation’s fiscal priorities and making critically needed public investments in our nation’s future.

 
 
icehorse
 
Avatar
 
 
icehorse
Total Posts:  7662
Joined  22-02-2014
 
 
 
11 September 2019 16:13
 

I agree with you Cat, but watch out. GAD is likely to accuse you of just being jealous of the rich.

 
 
GAD
 
Avatar
 
 
GAD
Total Posts:  17630
Joined  15-02-2008
 
 
 
11 September 2019 17:23
 
icehorse - 11 September 2019 04:13 PM

I agree with you Cat, but watch out. GAD is likely to accuse you of just being jealous of the rich.

Indeed, pointless whining by ignorant people who just want to complain about shit because that is easier then educating themselves.

I’m not going to waste a lot time on this since I know you guys don’t really give a shit about anything that requires you to think about shit, but here is a link I found in 2mins on why what ITPE says is misleading. I’m not vetting but they raise issues that should be looked at if you really care about knowing shit from shineola. 

https://www.cost.org/globalassets/cost/state-tax-resources-pdf-pages/cost-studies-articles-reports/2017-rebuttal-to-itep-corporate-income-tax-avoidance-report.pdf

 
 
Cheshire Cat
 
Avatar
 
 
Cheshire Cat
Total Posts:  1316
Joined  01-11-2014
 
 
 
11 September 2019 17:54
 

Thanks for the link GAD.

However, we’re comparing apples to oranges here.

The rebuttal report concerns state corporate income taxes and the stats on the link I’ve posted concern Federal Income Taxes.

Whether these corporations pay too much in state and local income taxes is another matter — I’m talking about them paying ZERO in Federal Income Taxes.

And, I think this is totally unjust and obscene.

 
 
GAD
 
Avatar
 
 
GAD
Total Posts:  17630
Joined  15-02-2008
 
 
 
11 September 2019 18:34
 
Cheshire Cat - 11 September 2019 05:54 PM

Thanks for the link GAD.

However, we’re comparing apples to oranges here.

The rebuttal report concerns state corporate income taxes and the stats on the link I’ve posted concern Federal Income Taxes.

Whether these corporations pay too much in state and local income taxes is another matter — I’m talking about them paying ZERO in Federal Income Taxes.

And, I think this is totally unjust and obscene.

Fair enough, but do you think they only cherry pick and mislead on state taxes but not on federal? And as I pointed out to you before these low or negative taxes are due to capital expenses and losses that all companies big and small get to roll forward.

 
 
icehorse
 
Avatar
 
 
icehorse
Total Posts:  7662
Joined  22-02-2014
 
 
 
12 September 2019 07:54
 
GAD - 11 September 2019 06:34 PM
Cheshire Cat - 11 September 2019 05:54 PM

Thanks for the link GAD.

However, we’re comparing apples to oranges here.

The rebuttal report concerns state corporate income taxes and the stats on the link I’ve posted concern Federal Income Taxes.

Whether these corporations pay too much in state and local income taxes is another matter — I’m talking about them paying ZERO in Federal Income Taxes.

And, I think this is totally unjust and obscene.

Fair enough, but do you think they only cherry pick and mislead on state taxes but not on federal? And as I pointed out to you before these low or negative taxes are due to capital expenses and losses that all companies big and small get to roll forward.

Capital expenses and losses are only one of several reasons these huge, profitable companies don’t pay any federal taxes. So GAD, you’re either ignorant or disingenuous on this point.

 
 
GAD
 
Avatar
 
 
GAD
Total Posts:  17630
Joined  15-02-2008
 
 
 
12 September 2019 08:00
 
icehorse - 12 September 2019 07:54 AM
GAD - 11 September 2019 06:34 PM
Cheshire Cat - 11 September 2019 05:54 PM

Thanks for the link GAD.

However, we’re comparing apples to oranges here.

The rebuttal report concerns state corporate income taxes and the stats on the link I’ve posted concern Federal Income Taxes.

Whether these corporations pay too much in state and local income taxes is another matter — I’m talking about them paying ZERO in Federal Income Taxes.

And, I think this is totally unjust and obscene.

Fair enough, but do you think they only cherry pick and mislead on state taxes but not on federal? And as I pointed out to you before these low or negative taxes are due to capital expenses and losses that all companies big and small get to roll forward.

Capital expenses and losses are only one of several reasons these huge, profitable companies don’t pay any federal taxes. So GAD, you’re either ignorant or disingenuous on this point.

Go look it up.

 
 
icehorse
 
Avatar
 
 
icehorse
Total Posts:  7662
Joined  22-02-2014
 
 
 
12 September 2019 08:30
 
GAD - 12 September 2019 08:00 AM
icehorse - 12 September 2019 07:54 AM
GAD - 11 September 2019 06:34 PM
Cheshire Cat - 11 September 2019 05:54 PM

Thanks for the link GAD.

However, we’re comparing apples to oranges here.

The rebuttal report concerns state corporate income taxes and the stats on the link I’ve posted concern Federal Income Taxes.

Whether these corporations pay too much in state and local income taxes is another matter — I’m talking about them paying ZERO in Federal Income Taxes.

And, I think this is totally unjust and obscene.

Fair enough, but do you think they only cherry pick and mislead on state taxes but not on federal? And as I pointed out to you before these low or negative taxes are due to capital expenses and losses that all companies big and small get to roll forward.

Capital expenses and losses are only one of several reasons these huge, profitable companies don’t pay any federal taxes. So GAD, you’re either ignorant or disingenuous on this point.

Go look it up.

Go look what up? I’ve already granted you your one (of many) reasons.

 
 
Cheshire Cat
 
Avatar
 
 
Cheshire Cat
Total Posts:  1316
Joined  01-11-2014
 
 
 
12 September 2019 10:33
 
GAD - 11 September 2019 06:34 PM
Cheshire Cat - 11 September 2019 05:54 PM

Thanks for the link GAD.

However, we’re comparing apples to oranges here.

The rebuttal report concerns state corporate income taxes and the stats on the link I’ve posted concern Federal Income Taxes.

Whether these corporations pay too much in state and local income taxes is another matter — I’m talking about them paying ZERO in Federal Income Taxes.

And, I think this is totally unjust and obscene.

Fair enough, but do you think they only cherry pick and mislead on state taxes but not on federal? And as I pointed out to you before these low or negative taxes are due to capital expenses and losses that all companies big and small get to roll forward.

All companies certainly have expenses and losses. 

But these corporations aren’t experiencing them. They are making massive profits, often worth billions of dollars, while at the same time using giant tax loopholes to claim these “loses”. These loopholes are not accidental oversights. They are purposely written into the tax code by corporate lobbyists and the politicians they have bought.

I will bet that next year, another report from ITEP will come out, and these same corporations, and probably even more of them, will once again not be paying any federal income taxes. They will merely switch tax loopholes to claim it.

https://www.citizen.org/wp-content/uploads/corporate-tax-lobbying-report.pdf

 

 
 
GAD
 
Avatar
 
 
GAD
Total Posts:  17630
Joined  15-02-2008
 
 
 
12 September 2019 17:52
 
Cheshire Cat - 12 September 2019 10:33 AM
GAD - 11 September 2019 06:34 PM
Cheshire Cat - 11 September 2019 05:54 PM

Thanks for the link GAD.

However, we’re comparing apples to oranges here.

The rebuttal report concerns state corporate income taxes and the stats on the link I’ve posted concern Federal Income Taxes.

Whether these corporations pay too much in state and local income taxes is another matter — I’m talking about them paying ZERO in Federal Income Taxes.

And, I think this is totally unjust and obscene.

Fair enough, but do you think they only cherry pick and mislead on state taxes but not on federal? And as I pointed out to you before these low or negative taxes are due to capital expenses and losses that all companies big and small get to roll forward.

All companies certainly have expenses and losses. 

But these corporations aren’t experiencing them. They are making massive profits, often worth billions of dollars, while at the same time using giant tax loopholes to claim these “loses”. These loopholes are not accidental oversights. They are purposely written into the tax code by corporate lobbyists and the politicians they have bought.

I will bet that next year, another report from ITEP will come out, and these same corporations, and probably even more of them, will once again not be paying any federal income taxes. They will merely switch tax loopholes to claim it.

https://www.citizen.org/wp-content/uploads/corporate-tax-lobbying-report.pdf

If you spent 10 billion over some number of years to make 10 billion one year you made “massive” profit but you still get to deduct the 10 billion your spent to make so no fucking taxes! As a condo owner with 3 rental units I had the same goddam deductions! All this info (these companies tax records) are public record, they are not breaking a single fucking law yet you keep calling them criminals, why, because they have more then you and you want to whine about it.

 
 
icehorse
 
Avatar
 
 
icehorse
Total Posts:  7662
Joined  22-02-2014
 
 
 
12 September 2019 19:04
 

GAD, you ought to try reading the posts of the people you’re debating, you’re looking pretty foolish in this thread.

 
 
GAD
 
Avatar
 
 
GAD
Total Posts:  17630
Joined  15-02-2008
 
 
 
12 September 2019 20:17
 
icehorse - 12 September 2019 07:04 PM

GAD, you ought to try reading the posts of the people you’re debating, you’re looking pretty foolish in this thread.

I only have to beat you and I don’t even see you in my rear view…

 
 
icehorse
 
Avatar
 
 
icehorse
Total Posts:  7662
Joined  22-02-2014
 
 
 
12 September 2019 21:36
 
GAD - 12 September 2019 08:17 PM
icehorse - 12 September 2019 07:04 PM

GAD, you ought to try reading the posts of the people you’re debating, you’re looking pretty foolish in this thread.

I only have to beat you and I don’t even see you in my rear view…

It must be really weird to be in your brain smile

 
 
GAD
 
Avatar
 
 
GAD
Total Posts:  17630
Joined  15-02-2008
 
 
 
12 September 2019 21:59
 
icehorse - 12 September 2019 09:36 PM
GAD - 12 September 2019 08:17 PM
icehorse - 12 September 2019 07:04 PM

GAD, you ought to try reading the posts of the people you’re debating, you’re looking pretty foolish in this thread.

I only have to beat you and I don’t even see you in my rear view…

It must be really weird to be in your brain smile

Yeah, being reasonable is pretty weird in today’s world.

 
 
icehorse
 
Avatar
 
 
icehorse
Total Posts:  7662
Joined  22-02-2014
 
 
 
13 September 2019 07:42
 
GAD - 12 September 2019 09:59 PM
icehorse - 12 September 2019 09:36 PM
GAD - 12 September 2019 08:17 PM
icehorse - 12 September 2019 07:04 PM

GAD, you ought to try reading the posts of the people you’re debating, you’re looking pretty foolish in this thread.

I only have to beat you and I don’t even see you in my rear view…

It must be really weird to be in your brain smile

Yeah, being reasonable is pretty weird in today’s world.

You do realize of course that in this thread - as with many - you led with strawman arguments and slurs.

 
 
GAD
 
Avatar
 
 
GAD
Total Posts:  17630
Joined  15-02-2008
 
 
 
13 September 2019 07:48
 
icehorse - 13 September 2019 07:42 AM
GAD - 12 September 2019 09:59 PM
icehorse - 12 September 2019 09:36 PM
GAD - 12 September 2019 08:17 PM
icehorse - 12 September 2019 07:04 PM

GAD, you ought to try reading the posts of the people you’re debating, you’re looking pretty foolish in this thread.

I only have to beat you and I don’t even see you in my rear view…

It must be really weird to be in your brain smile

Yeah, being reasonable is pretty weird in today’s world.

You do realize of course that in this thread - as with many - you led with strawman arguments and slurs.

Everything is a strawman to you, it’s your way of ignoring everything that doesn’t fit into your little world. Slurs, fair enough.

 
 
 1 2 3 >