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Over 10% Of Americas Largest Companies Pay 0% Tax Rates


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Among companies listed on the S&P 500, almost one in nine paid an effective tax rate of zero percent — or even lower — over the past year, according to an analysis by USA Today.

 

There are 57 separate companies listed on the index that paid a zero percent rate from the past year. Those companies include both household names like Verizon and News Corp. and lesser-known corporate giants like the data storage manufacturer Seagate (market value $15.9 billion) and Public Storage (market value $29.5 billion).

 

Many of the companies USA Today identified in its analysis as paying negative rates make the list because they lost money, but several were profitable. Previous analyses have shown that the typical corporation pays a lower effective tax rate than most middle-class families, and a far lower one than the statutory corporate tax rate against which business interests disingenuously rail.

 

Getting to a zero percent tax rate despite turning a profit requires creative accounting, but not lawbreaking. The corporate tax code allows companies to avoid tax liability even in years when they turn a profit. Some of the profitable companies on the newspaper’s list, such as General Motors, achieved a zero percent rate by banking tax credits from previous years when business was bad. But the more common gambit involves moving revenues from parent companies to offshore subsidiaries based in tax haven countries in the Caribbean, Europe, and elsewhere.

 

Such offshoring of profits has caught the attention of policymakers in the United States and Europe this year, with the focus predominantly on Apple Inc. The U.S. tech giant not only avoided the American tax system, but managed to shelter about $100 billion in revenues from any taxes at all. That scheme relied upon a loophole in Irish law which that country’s government says it intends to fix, but the narrow change proposed by Ireland’s finance minister will not address the larger problem of corporate tax avoidance.

 

Tax dodging costs the U.S. about $300 billion per year. Much of that lost revenue is from individuals, rather than corporations. The country is cracking down on individual tax dodgers and striking deals with countries like Switzerland and the Cayman Islands that will help identify tax cheats starting in 2014.

 

The corporate tax avoidance problem is thornier, as it is generally done through entirely legal methods. Coordinating international tax law in a way that would minimize corporate tax trickery is very difficult under the current approach, and a paradigm shift in business tax law may be necessary to end the accounting practices that rob countries of tax revenue.

 

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I'm willing top bet the number is much larger than 10%. Some of these companies even get a rebate after paying no taxes.

None of them pay 35%, the going rate. Raise the tax to 40%, and close all loopholes.

oooohh, this will drive the biggies overseas! The lemmings will say. Fine, then pass laws that penalize those companies with import duties and labor requirements that make it more expensive for them to operate overseas. Oooohh, that'll drive them out of business!

Good. We don't need companies that have 500 employees, or 5000 employees. Smaller companies will pay their workers better and pay their taxes instead of hiring 6 figure lawyers to dodge taxes.

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...and the bottom 50% of earners account for only 2.5% in total federal income taxes....

 

Now what?



Good. More money in our retirement portfolios. Maybe some of you RETARDS should start investing all that "earned income" you get from H&R Block instead of taking a bus to the local mall. :lol: :lol:

I'd click on "Like" for your comment but I fukin can't because some nutsack lapper took that option away!!!

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What's the problem?

They didn't write the tax code.

Libturds keep hollerin about jobs going overseas and at the same time

cry corporations need to pay higher taxes. We have the highest corp tax

rate on the planet and you wonder why you can't earn what you call a

"living wage"............. Your living wage is spent on tax lawyers and crafty

accountants, shareholders, VP's, CEO's etc.

Why would big bidness base in a country with the worlds highest corp

tax rate, where gov agencies were created specifically to punish business?

Progress!!!

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guess what? people pay taxes, not ideology. Corportations ore people acting within an idea. Those playing roles of social identiy pay taxes, not the theater of the mind since it is just living in the vocabulary only.

 

Bullspit topic created to divert emotional responses to ignore the obvious and practing saving ideology from being seen as absolute corruption.

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The question is how can we get that number to 100% of companies and individuals???

Close all loopholes, and end all deductions except for primary home mortgage, and earned income credits for low wage workers.

 

Corporations should pay a 15% tax on all net quarterly profits with no deductions or depreciations allowed. This lowers their rate as well as forces them to actually pay 100% of the lower rate.

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Good. More money in our retirement portfolios.

 

Investing for retirement is good. However, I don't think the markets are quite as simple as you imply.

 

Tax avoidance by large corporations isn't likely to be good for your pension. It certainly isn't good for your country.

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I'm willing top bet the number is much larger than 10%. Some of these companies even get a rebate after paying no taxes.

None of them pay 35%, the going rate. Raise the tax to 40%, and close all loopholes.

oooohh, this will drive the biggies overseas! The lemmings will say. Fine, then pass laws that penalize those companies with import duties and labor requirements that make it more expensive for them to operate overseas. Oooohh, that'll drive them out of business!

Good. We don't need companies that have 500 employees, or 5000 employees. Smaller companies will pay their workers better and pay their taxes instead of hiring 6 figure lawyers to dodge taxes.

 

 

Hi Dano!

I see you're as stupid as you were yesterday, and the day before, and the week before.

Surely you must study stupid to be so well versed in your ability to show off your skills.

 

Have a nice evening!

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Close all loopholes, and end all deductions except for primary home mortgage, and earned income credits for low wage workers.

 

Corporations should pay a 15% tax on all net quarterly profits with no deductions or depreciations allowed. This lowers their rate as well as forces them to actually pay 100% of the lower rate.

 

Why should a mortgage qualify for tax advantages? Why not, for example, pension payments?

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corporate-flag.jpg

 

Among companies listed on the S&P 500, almost one in nine paid an effective tax rate of zero percent — or even lower — over the past year, according to an analysis by USA Today.

 

There are 57 separate companies listed on the index that paid a zero percent rate from the past year. Those companies include both household names like Verizon and News Corp. and lesser-known corporate giants like the data storage manufacturer Seagate (market value $15.9 billion) and Public Storage (market value $29.5 billion).

 

Many of the companies USA Today identified in its analysis as paying negative rates make the list because they lost money, but several were profitable. Previous analyses have shown that the typical corporation pays a lower effective tax rate than most middle-class families, and a far lower one than the statutory corporate tax rate against which business interests disingenuously rail.

 

Getting to a zero percent tax rate despite turning a profit requires creative accounting, but not lawbreaking. The corporate tax code allows companies to avoid tax liability even in years when they turn a profit. Some of the profitable companies on the newspaper’s list, such as General Motors, achieved a zero percent rate by banking tax credits from previous years when business was bad. But the more common gambit involves moving revenues from parent companies to offshore subsidiaries based in tax haven countries in the Caribbean, Europe, and elsewhere.

 

Such offshoring of profits has caught the attention of policymakers in the United States and Europe this year, with the focus predominantly on Apple Inc. The U.S. tech giant not only avoided the American tax system, but managed to shelter about $100 billion in revenues from any taxes at all. That scheme relied upon a loophole in Irish law which that country’s government says it intends to fix, but the narrow change proposed by Ireland’s finance minister will not address the larger problem of corporate tax avoidance.

 

Tax dodging costs the U.S. about $300 billion per year. Much of that lost revenue is from individuals, rather than corporations. The country is cracking down on individual tax dodgers and striking deals with countries like Switzerland and the Cayman Islands that will help identify tax cheats starting in 2014.

 

The corporate tax avoidance problem is thornier, as it is generally done through entirely legal methods. Coordinating international tax law in a way that would minimize corporate tax trickery is very difficult under the current approach, and a paradigm shift in business tax law may be necessary to end the accounting practices that rob countries of tax revenue.

 

 

Poor skews does not understand that when the Obama economy kills profits then there is little or no taxes. Look to your fearless leader to fix the problem foolish one. When there is plenty of profit there are no accounting tricks to hide it.

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...and the bottom 50% of earners account for only 2.5% in total federal income taxes....

 

Now what?

 

 

 

 

Of course, dumbass. If you're poor, you shouldn't pay taxes, Ein-fking-stein. :wacko::lol::lol::lol::lol:

 

 

 

Nobody wrot: "What's the problem?

They didn't write the tax code."

 

 

 

laffin...you fkken retard, yes they did. You are so stupid you don't even know how our govt works! What a fken imbecile!!

you know, you get butt-reamed here EVERY time you post, so it looks like you like getting it up the hiney. :P

 

sole result wrot: "guess what? people pay taxes, not ideology. Corportations ore people acting within an idea. Those playing roles of social identiy pay taxes, not the theater of the mind since it is just living in the vocabulary only.

 

Bullspit topic created to divert emotional responses to ignore the obvious and practing saving ideology from being seen as absolute corruption."

 

 

 

Morer senseless, indecipherable autistic blubbering from the pretentious mental midget.

Fuck you and suck a donkey penis you fucking mother fucking bitch shit. Shit up a rope you fucking fuck fuck shit bitch fuck shit.

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Close all loopholes, and end all deductions except for primary home mortgage, and earned income credits for low wage workers.

 

Corporations should pay a 15% tax on all net quarterly profits with no deductions or depreciations allowed. This lowers their rate as well as forces them to actually pay 100% of the lower rate.

 

That's 15%. It should be zero.

 

I love the mortgage interest deduction benefits people who buy vacation homes too, and it's going to stay that way.

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48 percent of individuals don't pay jack. Do you have a point or just another whine?

 

I think the point is that they can't afford to pay jack - because they aren't paid enough. Oh, and the employers who aren't paying enough don't pay jack either.

 

Which leaves the squeezed middle with the tab.

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I think the point is that they can't afford to pay jack - because they aren't paid enough. Oh, and the employers who aren't paying enough don't pay jack either.

 

Which leaves the squeezed middle with the tab.

 

So stop paying for the employees with tax dollars. I have no problem if someone doesn't pay any income tax. The ideal scenario is nobody pays income taxes, companies or people.

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Wonder how many billions of dollars the workers of those companies pay in state and federal taxes???

 

Guess Skews would rather not have the jobs,,,,,

 

Where you pay your corporate tax has no impact on jobs. That comes down to where it is cheapest to manufacture or where money can be made doing business.

 

You can shift money from country to country without altering anything.

 

Example. Starbucks will make a charge for use of their brand. The most expensive part of a cup of coffee is the paper cup. That cash gets paid to wherever a head office is set up and is counted as revenue there (and an expense in the country where the coffee is sold). So, where is that tax paid? yeah, you guessed it.

 

 

So stop paying for the employees with tax dollars. I have no problem if someone doesn't pay any income tax. The ideal scenario is nobody pays income taxes, companies or people.

 

In your ideal world, nobody would pool money for anything?

 

No defense? No education? No roads? No fire service? No ... well, you get the picture.

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In your ideal world, nobody would pool money for anything?

 

No defense? No education? No roads? No fire service? No ... well, you get the picture.

 

Duh....the US didn't have an income tax until 1913. Was there No defense? No education? No roads? No fire service? No....well, you get the picture.

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