US trade gap narrows as exports rise

Financial Times (FT.com) ^ | 10. November 2004 | Christopher Swann

[Mulder]

Yes.

What is the overall percentage of the US tax burden that foreign companies pay (excluding tariffs)?

Thanks in advance.

[1rudeboy]

25.622% (Give or take a thousandth of a point).

[Mulder]

25.622% (Give or take a thousandth of a point).

BS.

Even the percentage of TOTAL corporate taxes is significantly less than that.

Individual income taxes are about 40%. Social insurance taxes are about 40%. Corporate income taxes are less than 10% of the overall federal revenues. Excise and estate taxes are around 5%. Tariffs are only 1%.

http://www.cbo.gov/showdoc.cfm?index=1821&sequence=0

Before you come on here and accuse others of ignorance on the issue, perhaps you should brush up on your facts.

[LowCountryJoe]

The truth is out there? I heard Mulder won 17 for the Athletics too...too bad he fell apart in the last six weeks.

[1rudeboy]

I see my sense of humor is lost upon you. I also see that you found a website with tax data. Yet, in your reply #71, you claim that foreign corporations do not pay U.S. income tax. How can this be? Could it be that yours is

. . . a tale
Told by an idiot, full of sound and fury,
Signifying nothing.

Macbeth, Act V, Scene V.

[1rudeboy]

He's heading for the tall grass. Why do I bother with these people? Oh, yeah . . . it's fun.

[Mulder]

.Yet, in your reply #71, you claim that foreign corporations do not pay U.S. income tax. How can this be?

An NO ONE has refuted my claim with facts. Only lines from Shakespeare and ad homenin attacks.

So tell us, exactly how much do foreign corporations pay in US income taxes?

Is it $100 billion? $10 billion? $1 billion?

What is the number? You claim to be an expert on the subject, so please enlighten us.

[Mulder]

So what percentage of federal revenues come from the payment of federal corporate income taxes by foreign corporations?

[1rudeboy]

An[d] NO ONE has refuted my claim with facts.

Gosh, you are such a beginner. I doubt that you will comprehend the following, but I'll try to keep it simple. You claimed that foreign corporations do not pay U.S. income tax. You have the burden of proving your claim. I simply have to laugh in your face until you do so. So giddy-up, cowboy. I can prove that your claim is incorrect, but I'd rather let you squirm.

[Mulder]

You claimed that foreign corporations do not pay U.S. income tax. You have the burden of proving your claim

I looked at the CBO page, and didn't see a category there for "foreign corporations". So maybe it's part of "miscellaneous". If so, it's still a very small number.

Nonetheless, it is still my contention that foreign corporations, that make things in foreign countries, using foreign workers (i.e., "overseas manufacturers") pay ZERO federal income tax. I could be wrong, due to some nuiances in the tax edicts, but if it's not zero, it's close to zero. BFD.

Anyway, it really doesn't matter if it's "zero" or "close to zero", except to someone that is arrogrant and obsessed with irrelevant details.

I can prove that your claim is incorrect

So what's the number?

[1rudeboy]

Ok, now I'm bored . . . .

Section 882. Tax on income of foreign corporations connected with United States business

(a) Imposition of tax
(1) In general
A foreign corporation engaged in trade or business within the United States during the taxable year shall be taxable as provided in section 11, 55, 59A, or 1201(a) on its taxable income which is effectively connected with the conduct of a trade or business within the United States.
(2) Determination of taxable income
In determining taxable income for purposes of paragraph (1), gross income includes only gross income which is effectively connected with the conduct of a trade or business within the United States.

26 U.S.C. 882

[general_re]

So what's the number?

$1,320,828,000 for tax year 2000.

[Mulder]

Thanks for the info.

So they pay $1 billion in taxes on sales of at least $500 billion?

An effective tax rate of a whopping..... 0.2%

It might as well be 0%. It probably costs more to collect it.

[Toddsterpatriot]

$1,320,828,000 for tax year 2000.

You wouldn't happen to have a link to this number, would you?

[general_re]

$500 billion? Hardly. From foreign-owned corporations, the IRS withheld $1.3 billion on about $90 billion in US-sourced income. Mind you, that's only foreign corporations - add in foreign individuals, trusts, partnerships and so forth, and the number change.

[general_re]

Why, of course I do ;)

Foreign Recipients of U.S. Income, 2000 - scroll down to Table 2 on page 7.

[1rudeboy]

How can this be? I thought foreign corporations pay no income tax! It's not FAIR! We must raise taxes on these evil thieves right away!

[Republican Wildcat]

Both.

[Republican Wildcat]

Refineries have nothing to do with oil production?

Nope.

LOL! No wonder you're on my "idiots who aren't worth responding to" list.

Physician heal thyself.

[1rudeboy]

Here's what I found:

Major conclusions of the most recent IRS data (1999) include:

HIGHEST-EVER TAX PAYMENTS: The amount of taxes paid by U.S. subsidiaries for this year is the highest ever recorded. Over the previous five-year period, tax payments have grown by 82 percent, increasing from $13.2 billion to $23.9 billion, while net income rose by 57% over the same period.

IMPROVED EARNINGS: In 1999, pretax net income of U.S. subsidiaries increased to $60.2 billion - up 48.3 percent from the previous year.

ASSET GROWTH: Total assets of U.S. subsidiaries grew to nearly $4.8 trillion - a 21.5 percent increase from the previous year.

The Organization for International Investment