this is an excellent article on (corporate / all?) tax policy.
Posted on 09/04/2011 12:31:53 AM PDT by Bigtigermike
Actually they do.
Tell me, do you belive that reducing taxes and regulations on businesses will help the economy or not?
Yes, but that is not what the claim was. The claim is that eliminating corporate taxes will promote hiring. That claim is clearly not true in all cases. Huge corporations paying zero tax and laying off instead of hiring. So instead of dropping corporate income taxes entirely, as Palin promoted, why not come up with a plan that will actually promote job growth? Why not tailor the tax cuts to those companies who year after year do the majority of the job creating, small and mid-sized businesses? Why not cut their taxes to zero by making the first X million in profits non-taxable instead of rewarding those companies who already don't pay taxes and who don't create new jobs, at least not in the U.S.? Why blindly promote a program that doesn't do what you say you want it to do? Don't we have enough of that already? Shouldn't we be looking for new ideas that work instead of the same old, same old?
The premise is that if you eliminate taxes on businesses then they will expand and create jobs. That is patently false in many cases, particularly among the largest corporations. So instead of ending business taxes entirely why to tailor the cuts so they will benefit the businesses that actually do create jobs? Why is that so hard for you to understand and why are you so opposed to benefiting small and medium businesses?
Thanks - Post of the day. Truth rears its ugly head.
“In 2010 Verizon paid zero in U.S. income taxes. That same year it laid off something like fifteen thousand workers. GE paid nothing in taxes. GE laid off thousands of workers. Black & Decker paid nothing in taxes. Black and Decker laid off a couple of thousand people. Prudential Financial paid no taxes. Prudential Financial laid people off. Boeing paid nothing in taxes. Boeing laid off workers. So how much lower to taxes need to be before these companies start creating jobs in the U.S. instead of overseas?”
We are duped if we think reducing tax rates will produce jobs. Tax rates did not offshore jobs, cheap labor and environment laws did.
This is why what you’re claiming is misleading. This quote is from your first source.
“The GAO said corporations escaped paying federal income taxes for a variety of reasons including operating losses, tax credits and an ability to use transactions within the company to shift income to low tax countries.”
These are the reason corporations are not paying taxes:
1) The company is losing money
2) They are shifting money to other countries through multinational options.
* Note the reason they do this is the high taxes in the US.
3)Tax credits, loopholes....This is Palin’s point on Crony Capitalism...the objective is to reduce or eliminate taxes and get the loopholes and subsidies out of the game so each is on a fair playing field.
On top of my last post and point,,,we know from Experience that cutting Corporate Income taxes works.
It was called Reaganomics and it works despite the lies coming out of some parts of the media and misinterpretations of people who can’t wrap their heads around a fairly simple concept.
Corporations don’t pay taxes...the consumers of their products do.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.