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The report also found that 91 corporations in the Fortune 500, many worth billions of dollars, paid no federal taxes last year.


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https://www.washingtonpost.com/opinions/2019/12/16/new-report-hands-democrats-major-weapon-against-trump/

 

About 400 of America’s largest corporations paid an average federal tax rate of about 11 percent on their profits last year, roughly half the official rate established under President Trump’s 2017 tax law, according to a report released Monday.
 
The 2017 tax law lowered the U.S. corporate tax rate from 35 percent to 21 percent, but in practice large companies often pay far less than that because of deductions, tax breaks and other loopholes.

 

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1 minute ago, merrill said:

yup the real moochers 

Even they still pay your payroll taxes for SS and Medicare, unlike the bottom 60 % of Americans that are real moochers. 
 

Merrill probably doesn’t understand that she pays 100% of all corporate taxes.....

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4 minutes ago, Michaelf said:

 No corporation should pay income tax. Whenever a person takes corporate profits as salary or capital gains they pay income tax. How many times does the government need to tax the same dollar? 

You mean their profit is taxed through dividends because these are all publicly traded businesses??????😂

 

Well, looks like we got another threads fail on our hands. 

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1 hour ago, kfools said:

No. Not good for them. It's phucking disgusting that Amazon's employees pay more in taxes than the company they work for.

 

Amazon...and every other corporation...is paying their fair share in federal income taxes unless they are violating US tax law. 

 

Serious questions that I am sure you don't have the balls to answer;  When you file you tax return each year, do you look at you total tax liability and think, "That is clearly not enough.  I need to give more to the federal government so I am not going to take all the deductions I am allowed."?  If you only pay what you are legally required to pay, what gives you the right to insist others not do the exact same thing?

 

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2 hours ago, kfools said:

No. Not good for them. It's phucking disgusting that Amazon's employees pay more in taxes than the company they work for.

It would be if. that were true. 

 

These businesses match payroll taxes so you can take them out of the equation.

 

Next, you'll need to add up all those taxes paid from dividends. Guaranteed one corporation pays more federal income taxes than 60% of Americans combined. 

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13 hours ago, merrill said:

https://www.washingtonpost.com/opinions/2019/12/16/new-report-hands-democrats-major-weapon-against-trump/

 

About 400 of America’s largest corporations paid an average federal tax rate of about 11 percent on their profits last year, roughly half the official rate established under President Trump’s 2017 tax law, according to a report released Monday.
 
The 2017 tax law lowered the U.S. corporate tax rate from 35 percent to 21 percent, but in practice large companies often pay far less than that because of deductions, tax breaks and other loopholes.

 

 

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Johnston cuts through the official version of events and shows how, under the guise of deregulation, a whole new set of regulations quietly went into effect—regulations that thwart competition, depress wages, and reward misconduct.

 

"An exhaustive litany of federal, state and even local giveaways to the very wealthy, described in agonizing and depressing detail...Without solutions, this remains little more than a list of grievances." - Kirkus Reviews.

 

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In a free market, the winners will grow and become economically and politically powerful.  Eventually, they will become powerful enough that they start to bend the rules, or re-write them, to suit their needs.  There are a lot of rationalizations for why this is okay, and a good thing, because business evolves and the leaders need to influence how things are managed/refereed.  Eventually, of course, they will become so big and so influential that they are on at least equal footing with the government, which is theoretically the highest authority in the land, and derived directly from the fact that it is representative of the governed.  That's a problem.

 

When that happens, there are only 4 choices.

 

1- Let them grow and be powerful and be monopolies.  Anti-competitive practices that stifle competition for labor and goods are not a problem.

2- Regulate them so they do not abuse their power.  This will surely go well, and the regulators will definitely not fall under the influence of the monopolies.

3- Split them up.  Just break them up either along business units or geographically, whatever.  Make them smaller so they have to compete again and so they cannot unilaterally dominate everything.

4- If they have to be this big, and they should not be split up, because they provide a necessary service that works well for everyone and we really need it, then turn it into a utility.

 

In general, I prefer #3, though I'm alright with #2 as long as there is an ironclad understanding, preferably in the constitution, that spells out somehow that The People, through their representative government, are sovereign, and should act to ensure that that government's sovereignty is not trumped by any organization or corporation, etc, etc, blah blah blah.

 

Right now, what we do is #1, while pretending to do #2, but the regulators are captured, cronies, generally appointed directly from the ranks of the very corporations and banks they are supposed to regulate, and headed back there when they finish their stint in public office, too.  

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14 hours ago, merrill said:

https://www.washingtonpost.com/opinions/2019/12/16/new-report-hands-democrats-major-weapon-against-trump/

 

About 400 of America’s largest corporations paid an average federal tax rate of about 11 percent on their profits last year, roughly half the official rate established under President Trump’s 2017 tax law, according to a report released Monday.
 
The 2017 tax law lowered the U.S. corporate tax rate from 35 percent to 21 percent, but in practice large companies often pay far less than that because of deductions, tax breaks and other loopholes.

 

 

SCREW the corporations... THEY create JOBS.... and JOBS are good for the middle class !!   WHAT about the BILLIONAIRES (most of them Democrats) who don't pay any taxes !!  and ALL they do is to PUSH their open Borders, SOCIALISTIC beliefs... and SCREW the middle class in the process !!

 

YOU KNOW that there are reasons why MOST billionaires are Democrats... (i.e. Bezos, Gates, Zuckerberg, Buffet, Bloomberg, Steyer), and MANY others?

 

Because they want to see Democracy go away, because they KNOW, that THEN, THEY would have ALL the power... to pull the puppet strings of the politicians, and SCREW our Freedoms, Liberty, and LIFE as we know it...

 

THAT is  why we need to SQUASH them... NOW !!

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