Most companies in US avoid federal income taxes

[Liberty Star]

2/3rd avoid it, pretty amazing:


http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/corporations_income_tax

 

[brandon]

Good, now we just need 2/3 of individuals to stop paying federal income taxes

 

[acptulsa]

Good, now we just need 2/3 of individuals to stop paying federal income taxes

Yeah. If only we had as good a lobby as the corporations do, so that would be legal. Does seem that with corporate personhood laws out of control we could claim actual persons are being discriminated against...? Maybe?

 

[angelatc]

They hire lobbyists to demand laws that create loopholes, then they hire accountants to take advantage of the loopholes.

It's just a side effect of the idiotic tax code.

 

[Truth Warrior]

ALL US companies avoid ALL US taxes.

The customers of the companies pay for EVERYTHING.

Think about it.

 

[Kade]

We could cut the income tax completely if the 2/3 of these companies paid up...

Just a thought.

 

[brandon]

We could cut the income tax completely if the 2/3 of these companies paid up...

Just a thought.

I don't know the numbers, but I'll take your word for it. While a corporate income tax is certainly preferable to a personal one, I still don't want either.

 

[RickyJ]

The GAO study did not investigate why corporations weren't paying federal income taxes or corporate taxes and it did not identify any corporations by name. It said companies may escape paying such taxes due to operating losses or because of tax credits.

I wonder how many of these companies were audited by the IRS.

It appears federal income taxes are only for slaves.

 

[danberkeley]

who cares! no one should pay taxes.

 

[muh_roads]

I don't know the numbers, but I'll take your word for it. While a corporate income tax is certainly preferable to a personal one, I still don't want either.

There always were corporate taxes before the federal income tax was created wasn't there?

I have to side with Kade on this one.

 

[brandon]

There always were corporate taxes before the federal income tax was created wasn't there?

I have to side with Kade on this one.

I wasn't disagreeing with him, so I'm not sure why you are taking a side.

Corporate taxes discourage production. They are not good for anyoney. When a company takes a loss, they lose 100% of that loss. When a company makes a profit, they only get to keep (pulled this number out of my ass) 75% of the profit. The odds are stacked against them.

 

[muh_roads]

I wasn't disagreeing with him, so I'm not sure why you are taking a side.

Corporate taxes discourage production. They are not good for anyoney. When a company takes a loss, they lose 100% of that loss. When a company makes a profit, they only get to keep (pulled this number out of my ass) 75% of the profit. The odds are stacked against them.

The problem with us Ron Paul people is that we want the moon and stars. Myself included. Liberty needs to be taken in gradual steps. End the income tax first. Then the federal reserve or vice versa. Then much later worry about the corporate tax.

Ending the first two would be the biggest stimulus for the economy the government could ever grant its' people. Just stop taxing me and get out of my way. I'll certainly buy more then. Ending taxes for the middle class should be done immediately. Taxing tips is also the biggest fraud.

 

[Paul.Bearer.of.Injustice]

that just means lower wages for non-executive corporate employees and higher prices for consumers.
It doesn't matters who's taxed. The Top has plans to be financed and the burden always falls on Joe Sixpack one way or another.
The Top sucks from the Bottom until the bottom implodes from debt and the Top regains what it lent to the bottom under the guise of "ownership"("Title") when the homage(taxes) to the King can't be repaid. It's the reality of modern economic slave society.

 

[acptulsa]

The Top sucks from the Bottom until the bottom implodes from debt and the Top regains what it lent to the bottom under the guise of "ownership"("Title") when the homage(taxes) to the King can't be repaid. It's the reality of modern economic slave society.

And it looks like it will be at least as devastating to the amazing productivity of the American workforce as Communism was to the productivity of the Russian workforce ninety years ago.

Hell of a price we're paying for their theft.

 

[Brian4Liberty]

The missing statistic is how many of these "corporations" are true productive businesses, and how many are purely tax shelters?

The biggest problem with the "tax the rich" rhetoric is that in practice, the truly rich will always have a way around the taxes. All of the Obama / McTool talk about which income levels will be effected by their tax plans is meaningless. There is a reason our tax code never gets simplified...

 

[muh_roads]

The missing statistic is how many of these "corporations" are true productive businesses, and how many are purely tax shelters?

Isn't that what Enron was doing? Creating false off-shore corporations to move money around to?

 

[Truth Warrior]

Is it reasonable and safe to assume that ALMOST all of this company tax AVOIDANCE is totally and completely "legal" (so called )?

 

[Brian4Liberty]

Isn't that what Enron was doing? Creating false off-shore corporations to move money around to?

Enron was doing all kinds of creative accounting. A lot of it was meant to make their books look better than they really were.

 

[acptulsa]

Enron was doing all kinds of creative accounting. A lot of it was meant to make their books look better than they really were.

Thus giving the thieves time to collect one last dividend from nonexistent profits and sell before the stock crashed.

 

[Brian4Liberty]

Is it reasonable and safe to assume that ALMOST all of this company tax AVOIDANCE is totally and completely "legal" (so called )?

Of course it's somewhat legal. Heck, they get to write the law, so it's not hard to leave loopholes. Why would they want it any other way?

Certainly a low flat tax would bring in more overall revenue, but then the insiders wouldn't be able to manipulate it to their advantage.