|
|
 |
|
|
|
#1
08-10-2011, 04:08 PM
|
||||
|
||||
Quote:
|
|
#2
08-10-2011, 04:18 PM
|
||||
|
||||
|
So let's talk about what the largest corporations in the US pay in income taxes. And let's not use just Forbes spin, let's use other financial sites (WSJ, Money), too. And the entire point of this is that "the rich" are hardly "overtaxed", especially if you are a multinational keeping your profits overseas until a tax holiday is declared. We need a major revision of the tax code. Too bad the Republicans (actually the Tea Party) just nixed a start to it.
Exxon Mobile "Paulo", quoting Forbes, says Exxon paid $17.6 Billion in taxes in 2010. That's pretty amazing, because they only made a profit of $19 billion in 2009, and they paid zero income tax in 2009 They actually received a $156 million rebate in 2009 from the IRS, according to its SEC filings. WalMart $7.1 Billion taxes paid in 2010 In 2009, $22.1 billion in profit. Their tax rate is 35%. But after deductions they paid just under 32.4% Chevron They did pay $8.1 Billion in US taxes in 2010 In 2009, $10 billion profits, $19 million refund from the IRS GE 2010 tax rate: $0 2009 tax rate: $0 GE says it made no profits in the US. It booked its profits overseas as to not yet pay taxes on it. This left GE with a $1.1 billion benefit to its bottom line from taxes -- and an effective tax rate of negative 10.5%, a nice break from the 5.3% tax rate it recorded in 2008. Over the past five years, GE made $26 billion in US profits, and received $4.1 billion refund from the IRS. Bank of America 2009: $1.9 billion tax refund from the IRS, based upon $4.4 billion in profits, and in spite of receiving a Federal Reserve bailout of nearly $1 trillion. Boeing 2009: received a $30 billion contract from the Pentagon to build 179 airborne tankers, received $124 million IRS refund. Valero Energy 2009: $68 billion in US sales, $157 million tax refund check from IRS 2006-2009: received $134 million tax break from the oil and gas manufacturing tax deduction. Goldman Sachs 2008: profit of 2.3 billion, bailout of $800 billion from Federal Reserve, only paid 1.1 percent of income in taxes Citigroup 2009: $4 billion in profits, $2.5 trillion bailout from Federal Reserve, paid zero federal income taxes. ConocoPhillips 2007 - 2009: $16 billion in profits, $451 million in tax breaks through the oil and gas manufacturing deduction. Carnival Cruise Lines 2009: $11 billion in profits, but federal tax rate only 1.1 percent.
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
|
|
#3
08-10-2011, 04:22 PM
|
||||
|
||||
|
Quote:
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
|
|
#4
08-10-2011, 05:10 PM
|
|||
|
|||
|
Quote:
|
|
#5
08-10-2011, 05:48 PM
|
|||
|
|||
|
Quote:
__________________
Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
|
|
#6
08-11-2011, 07:32 AM
|
|||
|
|||
|
Quote:
but I think there should be a flat tax rate.. and no loopholes. maybe some deductions allowed, I never claimed to know everything! but it really pisses me off when I have friends with kids get back more than what they paid in. that shouldnt happen.
__________________
Quote:
|
|
#7
08-11-2011, 07:36 AM
|
||||
|
||||
|
Quote:
Put in a poverty line, and anything above that line gets taxed at one uniform rate. No bracket creep. Simple - anyone who can do elementary math will know what to pay. No complex accounting.
|
|
#8
08-11-2011, 08:15 AM
|
||||
|
||||
|
Quote:
 Agree but AICPA lobbying money will shut that down.
|
|
#9
08-11-2011, 08:20 AM
|
|||
|
|||
|
everyone should contribute-even if it's a negligible amount. perhaps more people would care about the goings on in washington if they felt they were actually a part of it-rather than just getting from it. it's supposed to be by,of, from the people, not just some of the people...
as for the house tax-i have a house i don't own in full as yet, but i use the standard deduction, so it has no bearing on me. however, it does have on others, and with the housing market being as anemic as it is, i'd hate for them to do anything that would exacerbate the problem.
__________________
Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
|
|
#10
08-11-2011, 08:36 AM
|
|||
|
|||
|
Quote:
I have wanted a flat tax for years but we will never have one because we have too many leaches that don't want to pay any taxes and live off the middle class and rich. If that bum Obama ever voted for a flat tax he would lose 3/4 of the people that voted for him because all of a sudden they would have to contribute something and that sure as hell would never happen.
|
|
#11
08-11-2011, 08:49 AM
|
||||
|
||||
Quote:
|
|
#12
08-11-2011, 08:57 AM
|
||||
|
||||
|
Quote:
At least with a flat tax rate and no deductions, there's no more class warfare. Everyone pays an equally "fair" share since everyone is paying the same proportional amount of their income. And there would be no barriers to continued growth or success built into the tax code.
|
|
#13
08-11-2011, 09:11 AM
|
|||
|
|||
|
I have no hatred for this President (no more than any before him any way). This gov't is a complete disaster and needs a square one approach. The Onion had an article a few weeks ago about giving the Fed a red ball because that was something it could handle playing with rather than anything complex. Great satire and a sad truth exposed.
The bureaucracy that has gone on for too long has created a system that needs constant feeding, it is similar to what happens to celebrity chefs. They start out great cooking great food, move onto TV, open a new restaurant nearby, get another TV show, open a restaurant in Vegas, another TV show and so on. Now they have this conglomerate of people and business that need to be fed at all times. This is the progression of a good idea when placed in the wrong hands for too long. Eventually it causes a downgrade in the product and service and nobody notices because they are eating at such and such's restaurant so it doesn't matter. Meantime he is nowhere to be found, not watching over, not leading the kitchen. Sure you can see him on the VS channel with his race horses but what about the food, huh?
__________________
don't run out of ammo.
|
|
#14
08-11-2011, 09:29 AM
|
|||
|
|||
|
leave Bobby Flay alone!! haha
__________________
Quote:
|
|
#15
08-11-2011, 02:44 PM
|
||||
|
||||
|
Quote:
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
|
|
#16
08-11-2011, 02:42 PM
|
||||
|
||||
|
Quote:
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
|
|
#17
08-11-2011, 03:14 PM
|
|||
|
|||
|
Quote:
__________________
Quote:
|
|
#18
08-11-2011, 03:18 PM
|
||||
|
||||
|
Quote:
 Today Romney announced he thinks that corporations are people. Jeebus, save us from these empty heads and give us back our democracy. "Corporations are people, my friend" (which makes total sense, except for that dang Citizen's United supreme court ruling) - video with heckling, here http://www.huffingtonpost.com/2011/0..._n_924426.html
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
|
|
#19
08-11-2011, 07:37 AM
|
|||
|
|||
|
it's all well and good to suggest changes to other programs-but if the govt would just buckle down and make the needed changes to what constitutes the bulk of fed. govt. spending, none of these other small issues would have to be addressed.
we do need tax reform. we also need entitlement reform. the tax break on housing isn't a budget buster-it probably does a lot more good than it does harm. the cash for clunkers program wasn't a budget buster either. we need to stop ignoring the elephant in the corner. he's not going anywhere.
__________________
Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
|
|
#20
08-11-2011, 10:53 AM
|
||||
|
||||
|
Quote:
|
Hybrid Mode
