Posted on 04/13/2015 11:18:38 AM PDT by Enlightened1
At least 15 Fortune 500 companies, many of them worth north of a $1 billion, paid zero income taxes in 2014, says a report out last week from the Citizens for Tax Justice.
According to the report, household names like CBS, General Electric and Mattel all successfully manipulated the U.S. tax code to avoid paying taxes on their massive profits.
Even more shocking: some of them even received tax rebates in the tens or even hundreds of millions
(Excerpt) Read more at dailymail.co.uk ...
It doesn’t bother me when corporations don’t pay income tax. Corporations can only collect taxes. When you tax corporations, it is the consumer who ends up paying in the end. There should be no corporate income taxes.
Look mostly like corps who are tight with Obama and the DNC. How many are affiliated with Buffett, you know, the guy who is for raising taxes and stating that his secretary pays more than he does.
(Yeah, I know corporations don’t pay taxes).
You cannot get a liberal to understand this. Their economic idiocy is mind blowing. Same thing with minimum wage, they assume the business is going to eat the increase automatically when all the businesses are going to do is pass on the increase in higher prices and reduced hours for their employees.
I was surprised to see GE at #2. They’re usually #1.
True enough. And people should realize that taxes are paid on income, not net worth.
http://en.wikipedia.org/wiki/Managerial_state
Paul Gottfried, in After Liberalism, defines this worldview as a "series of social programs informed by a vague egalitarian spirit, and it maintains its power by pointing its finger accusingly at antiliberals." He calls it a new theocratic religion. In this view, when the managerial regime cannot get democratic support for its policies, it resorts to sanctimony and social engineering, via programs, court decisions and regulations...
Corporations should be taxed on gross sales instead of net profits.
That will help the most efficient corporations prosper and grow, and punish the inefficient and corrupt corporations.
Not only the consumers,
but the shareholders and employees, too.
By the time the annual distro happens, there is almost no money left with which to pay direct taxes.
Those with material interests end up paying those taxes on their behalf. To tax corporate income on a pre-distro basis, is double taxation.
¿Comprende?
Exactly. Only people can pay taxes. Corporations simply collect them.
CBS= far left wing...
GE = far left wing
Prudential = far left wing
Time Warner = far left wing
That would be unfair because different industries have different turnover rates. Grocery stores, for example, turn over their entire stock once a week.
corporations don’t pay income taxes....their owners and stockholders pay the tax on the income that the corporation makes.
Actually, according to the Founding Fathers, there should be no income taxes for anyone.
I see eight companies on the list that should fire their accountants.
The premise of the entire story is a lie.
The billion dollar company paid all the taxes submitted by employees and shareholders, as the money came from it. Additionally, all supporting companies received their money from my he billion dollar corps... Which they then paid to employees and shareholders... Who then submitted taxes
Corporations should never be taxed, as an money taken would impact the financial life’s blood of the company... Impacting those employed and reduce ing taxes and local spending
Works for me.
I haven't thought this all the way through, but at first glance this is idiotic. If I were a CEO and my company was taxed this way, the first thing I'd do is lay off every employee and hire only contractors to work for me.
We have a gross receipts on businesses here in L.A. It is very unpopular and has caused many businesses to leave the city. A company could actually be losing money and still have to pay a gross receipts tax. Pure insanity.
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