Comments on: Most Companies Pay No Federal Income Tax
GAO Study Also Finds 68% Of Foreign Companies In U.S. Avoid Corporate Taxes
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- So what''s new? "The apptitude for ineptitude makes all human accomplishment a frickin'' miracle" is truer in the good ole USA than anywhere else on earth!
How shameful our Congress!!!!!!!!!!!!!!!!!!!!!!!!!!! - Reply to this comment
- "If they want to pay a dividend, they can. And, corporations only pay taxes if they have a profit".
Posted by diatreme at 11:22 AM : Aug 12, 2008
Do you pay taxes when you have no earnings?
Corporations are essentially owned by the shareholders. The profits go to the shareholders whom are taxed. The profits are taxed. When you try to increase taxes on a corportation, that money would be taken away from the profits (shareholders) and would cause a decrease in share value. This is when those lay-off notices begin to flow. The other option to offset taxes is to pass on the cost to the consumer. There is no other option.
Corporations are job providers (some very greedy). They are needed for the salaries that many would like.
Bottom line, Your only taxing yourself when you tax businesses.
Posted by tcandrews62 at 12:46 PM : Aug 12, 2008
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This is the lackieism to a sickning extent, I guess in your world corperations shouldn''t pay anything for government services such as defense, infrastructure ect. Bushco has lowered and tried to eliminate capitol gains tax so the poor share holders wont be burdened with taxes either. Just pass along all taxes to the middle class, you know, the people who get thier hands dirty.
The truth is this is a consumer economy, passing along the majority of the tax burden to the middle class does much more harm to the economy than taxing the investor class. - Reply to this comment
- In the 1930''s, in the "new" state of Nazi Germany, Adolph Hitler gave German companies all sorts of tax breaks and incentives so they would stay in Germany and not move somewhere else. He also rewarded those companies by swinging huge military contracts their way which would "create jobs" and restore the military with modern equipment.
Today, we have the government of the Great Emperor Bush giving tax breaks to companies, BUT with no stipulation that they stay here! The result is that companies are moving elsewhere, taking the jobs with them, but calling themselves American companies to get the market share.
Hitler was a monster, but he brought back Germany from the worst Depression it ever went through, created jobs and KEPT them in Germany, firmed up the German currency, stopped inflation, and made life "easier" for the German people (provided they weren''t Jews, Slavs, gypsies, or whatever!).
Hitler''s philosphy was simple: Give the people jobs and bread and they will be content!
Today, the Great Emperor Bush II and the neocon Fascist Nazi Republicans can''t even do that, nor do they care to do that!
SIG HEIL, BUSH!!!!!!
sig heil, MORE OF THE SAME, "DRRRRRILLLL!" McCain!!!!! - Reply to this comment
- Corporation: An ingenious device for obtaining profit without individual responsibility.
Ambrose Bierce - Reply to this comment
- Well, you guys just go on believing that Corporations should be taxed.
Posted by pollroller1 at 12:00 PM : Aug 12, 2008
Well I know when I was growing up and while we were becoming the greatest economic superpower on the Planet... You remember those days? You know the days when we were a CREDITOR NATION?? Anyway they were always taxed and they should be taxed. WE''ve got to stop the Borrow mentality. We can''t just keep borrowing our kids future. My Dad, a member of the Greatest Generation, once told me. You give a Working stiff a Buck and he''ll spend it, thus creating a need for something. You create a need and someone will most certainly be greedy enough to fill it. Common Sense!! Sieg Heil McBush - Reply to this comment
- "Why shouldn''''t a corporation pay the same as me"???
Posted by jtdev1 at 01:03 PM : Aug 12, 2008
I understand what you are saying.
However, understand that a corporations profits would be equivelent to your netincome. Unfortunately, the tax system doesn''t allow personal expenses and utilities to be included in deductions.
I like the idea of all of us becoming or creating personal corporations. This might control large frivolous lawsuits as well. - Reply to this comment
- Do you pay taxes when you have no earnings?
Posted by tcandrews62
Yes, I pay taxes on everything I earn regardless if I can profit or not. The cost of my living slightly exceeds my income (due to inflation this year) and I can''t "Profit" (or save) a penny, but still I pay my fair share of income taxes...
Why shouldn''t a corporation pay the same as me??? - Reply to this comment
- "If they want to pay a dividend, they can. And, corporations only pay taxes if they have a profit".
Posted by diatreme at 11:22 AM : Aug 12, 2008
Do you pay taxes when you have no earnings?
Corporations are essentially owned by the shareholders. The profits go to the shareholders whom are taxed. The profits are taxed. When you try to increase taxes on a corportation, that money would be taken away from the profits (shareholders) and would cause a decrease in share value. This is when those lay-off notices begin to flow. The other option to offset taxes is to pass on the cost to the consumer. There is no other option.
Corporations are job providers (some very greedy). They are needed for the salaries that many would like.
Bottom line, Your only taxing yourself when you tax businesses. - Reply to this comment
- Corporations should NOT have to pay ANY income tax. The employers and employees should be the ones that pay taxes on their income. NOT THE CORPORATIONS!!! Businesses need reserves to carry them through the lean times. If they are taxed and can''''''''t put money back, when times turn bad, they have nothing to fall back on. Also the corporations need reserves to buy new equipment and to do R&D. Yes the people that run the business should pay taxes and the people that work for the businesses should pay taxes BUT NOT THE CORPORATIONS!!!
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Business should IMO pay more in income taxes than citizens. Citizens should not be paying taxes that are then given to corps. Period! NO MORE CORPoRATE WELFARE!!! - Reply to this comment
- Personally, i think we need corp. taxes restructured in favor of companies that provide products and services to the point of not having them pay income tax anyway. HOWEVER, investment comapanies, making money with money, should be taxed, as well as higher income individuals.
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- So much for the "Buy American" theory. Most so-called "American" companies incorporate in some tax-haven country in order to avoid U.S. taxes. I''m sure it will all trickle-down eventually, like when a CEO needs a shoeshine or his landscaping trimmed.
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- Well, you guys just go on believing that Corporations should be taxed.
- Reply to this comment
- I''m sure this article makes the bushites very happy...even though it means they will be paying MORE TAXES as a result. Go figure.
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- [Corporations should NOT have to pay ANY income tax. The employers and employees should be the ones that pay taxes on their income. NOT THE CORPORATIONS!!!]
[Posted by pollroller1 at 11:13 AM : Aug 12, 2008]
if i can call myself (as an individual) a corporation, and deduct all the costs associated w/ being and sustaining as an individual (food, transportation, shelter, etc), then i''m all for it.
you can tax my income (as an individual), but why shouldn''t i have the ability to deduct the costs of being an indivual from the income that comes to me as an individual ... just like a corporation can do? - Reply to this comment
- Well, this news is shocking, simply shocking! Actually, even if business and industry "paid taxes" on paper, they would actually not reduce their bottom line by one centavo, since they pass taxes along to the consumer. That, fellow workers and peasants, is US!
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- This is news?
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- Why do some people think only corporations should make a profit???
I work, I earn money, I pay my bills, I also pay my taxes, but after all is said and done, I don''t have any profit left over...
To hear some people talk about not taxing corporations so they can have a profit and invest it into the business in a down time is crazy... Why can''t I do the same in my life?
I say a flat tax with NO loopholes. If you earn money in the USA your taxed at XX % no exceptions.
then we all could pay less in taxes because more would be paying taxes. - Reply to this comment
- downtowner97 - Did you know that a large portion of our taxes paid go to corporations in the form of subsidies, tax breaks, research grants, and just plain infrastructure that the corporation uses to make money?
If the corporations don''t pay taxes then we the people are paying the cost so they can make a profit.
You ever look at how many law suits are in the courts that were initiated by the same corporations that don''t pay taxes? Who is paying the court costs? WE ARE...
If I have to pay taxes on ever dime I earn, why shouldn''t the corporations? - Reply to this comment
- I am going to say one more thing and then I will get off of my soap box.
Corporations should NOT have to pay ANY income tax. The employers and employees should be the ones that pay taxes on their income. NOT THE CORPORATIONS!!! Businesses need reserves to carry them through the lean times. If they are taxed and can''t put money back, when times turn bad, they have nothing to fall back on. Also the corporations need reserves to buy new equipment and to do R&D. Yes the people that run the business should pay taxes and the people that work for the businesses should pay taxes BUT NOT THE CORPORATIONS!!! - Reply to this comment
- Posted by downtowner97
When was the last time you read the Constitution?
The majority of taxes were to be collected from individuals (corporations under current law) doing trade (business) - Reply to this comment
