Most Big Businesses Don't Pay Taxes

Discussion in 'Politics, Religion, Social Issues' started by NT1440, Jan 27, 2011.

  1. NT1440 macrumors G4

    NT1440

    Joined:
    May 18, 2008
    Location:
    Hartford, CT
    #1
    http://www.cbsnews.com/stories/2008/08/12/national/main4342535.shtml

    Well, does that really surprise anyone?

    Lets see, we have massive debt yet our politicians keep calling for easing the stress on businesses from taxation. What stress?

    Combine this with the fact that some of the world's largest corporations can classify themselves as "small businesses" and we have an environment where it seems the only ones really taking the tax burden is....us.

    My solution to help fix our country and chip away at the debt: make these ****ers actually pay their due. :mad:
     
  2. rdowns macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #2
    It wouldn't surprise me if you eliminated all the loopholes, deductions, tax credits etc, we could probably live high on the hog at a far lower rate of taxation than today for individuals and business.
     
  3. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #3
    We've always known this. Corporate welfare has been the norm for quite some time now.
     
  4. fivepoint macrumors 65816

    fivepoint

    Joined:
    Sep 28, 2007
    Location:
    IOWA
    #4
    Corporate taxes are a farce anyway. The cost is simply passed on to the consumer from the corporation. It's a consumer tax - period.

    It's subsidies you need to be worry about. Both party's actively participate in big-government corporatism. When you grow the government, send too much money to the government, they look for ways to spend it. They look for causes, groups, companys to give that money to on your behalf. It manipulates the free market and causes all sorts of corruption. Consumers/taxpayers are the losers in the long run.
     
  5. NickZac macrumors 68000

    NickZac

    Joined:
    Dec 11, 2010
    #5
    Warren Buffet has had a lot to say and publish regarding this and how he pays less taxes than his employees.
    http://www.timesonline.co.uk/tol/money/tax/article1996735.ece

     
  6. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #6
    I would actually not be surprised if we pay businesses with tax money. Oh wait...
     
  7. Sun Baked macrumors G5

    Sun Baked

    Joined:
    May 19, 2002
    #7
    Make em pay 5% on the profit they report to Wallstreet, no loopholes for the public companies.

    Want to play games and use accounting tricks to boost profits this quarter, well it'll cost ya. :p
     
  8. Rt&Dzine macrumors 6502a

    Rt&Dzine

    Joined:
    Oct 8, 2008
    #8
    But it trickles down. Oh wait . . .
     
  9. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #9
    Something needs to be done about the top group getting away with hiding so much of their money in tax shelters. Buffet for example should be paying 30+% of all his income in taxes like the most of the middle class. Getting those top groups to basicly double what they pay in taxes would plug a lot of holes in our budget.

    The capital gains is a great place to go after it. Consider treating it as income instead of just a flat tax. Just set it up so someone can sell and then put it in another type of account so only a certain amount is going to be coming out at a time. Kind of like a 401k but does not have the age requirement on with drawing funds from it.
     
  10. takao macrumors 68040

    takao

    Joined:
    Dec 25, 2003
    Location:
    Dornbirn (Austria)
    #10
    i think there simply needs to be an international movement regarding tax systems .. it's absolutly disgusting to see how some multi national cooperations simply account their profits in countries which favour them and on the other side if it's losses and thus have perhaps advantages milk the tax system to no end

    like GM did with opel in germany: profits accounted in the US, losses in germany
     
  11. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #11
    ...Yes- to China and India.
     
  12. Rt&Dzine macrumors 6502a

    Rt&Dzine

    Joined:
    Oct 8, 2008
    #12
    and to huge CEO perks and bonuses.
     
  13. chrmjenkins macrumors 603

    chrmjenkins

    Joined:
    Oct 29, 2007
    Location:
    CA
    #13
    You're absolutely right, they are a farce, because no one pays them. For instance, Google's effective tax rate last year was a whopping 2%.
     
  14. NT1440 thread starter macrumors G4

    NT1440

    Joined:
    May 18, 2008
    Location:
    Hartford, CT
    #14
    You're kidding right? So you're essentially saying that there is no way (or reason for that matter) to tax corporations.

    Guess what kind of entity is supposed to keep the underlined from occuring? I believe an agency was just set up to actively keep this kind of crap from happening, Warren ring a bell at all?
     
  15. chrmjenkins macrumors 603

    chrmjenkins

    Joined:
    Oct 29, 2007
    Location:
    CA
    #15
    And while we're at it. Rich people own corporations. If you tax the rich people, they'll pass it on to their corporations, who will pass it on to the middle class?

    Conclusion: Don't tax rich people or corporations. Makes perfect sense huh?
     
  16. NT1440 thread starter macrumors G4

    NT1440

    Joined:
    May 18, 2008
    Location:
    Hartford, CT
    #16
    I do love how somehow certain posters here, whom we all know, get outraged that the poor don't pay taxes. Yet somehow when businesses weasel out of paying taxes that contribute on a vastly larger scale, there is little to no response, not a hint of outrage, just "meh".

    Astounding.

    It's also amazing (using the term sarcastically) that this kind of story isn't being shouted from the rooftops on every available news medium. I wonder why :rolleyes:

    America is a corporate state.
     
  17. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #17
    No- not astounding. Typical.
     
  18. callmemike20 macrumors 6502a

    callmemike20

    Joined:
    Aug 21, 2007
    Location:
    USA
    #18
    That's because of the money they keep offshore. Everyone is complaining about how all the big multinationals have billions in the bank and they are still not hiring employees. The fact is that most of that money is overseas and cannot be brought back to America without paying a huge tax on it. If America went to the territorial system like most countries and only taxed income earned in the states, then jobs will be created.

    As for the corporate tax rate, I think it should definitely be fixed. I actually agree with Obama on cutting the tax rate, but getting rid of all the loopholes that go with it. Make the tax rate a flat 25% and move to a territorial system. THAT will bring business and jobs back to America. Revenue may be lost in the short term, but its an excellent long term solution to our loss of global competitiveness.

    In fact, our entire tax system needs to be fixed. The tax code should be able to fit on 1 piece of paper (8.5x11) in 10 point font. Well, maybe 5-10 pages, but you get my point. It's a pain for many americans to file taxes.
     
  19. AP_piano295 macrumors 65816

    Joined:
    Mar 9, 2005
    #19
    Except thats not how reality works.

    Lets simplify this so you can understand.

    There are two laptop companies A and B.

    A and B both make 1 laptop, they each sell that laptop for $500.00 dollars.

    Both A and B make 10 million dollars in profits each year, but company A pays 20% to taxes and comes away with 8 million dollars.

    Company B on the other hand hires a bunch of accounts to find every possible tax loophole. So in the end company B pays 5% and walks away with 9.5 million dollars.

    Than the government changes the laws closes the tax loopholes that company B has been using. Company B is upset about loosing 1.5 million in revenue due a change in tax policy so they start selling their laptop for $600.00. But company A is still selling their laptop for $500.00 and their sales explode while company B's sales fall because they were unwilling to accept a smaller profit margin.

    Look the free market, it works.
     
  20. Sydde macrumors 68020

    Sydde

    Joined:
    Aug 17, 2009
    #20
    But you see, if we tax corporations at reasonable rates, their products and services will become unaffordable to the average person. Demand will be throttled away to nothing. Revenues will dry up, corporations will fail, unemployment will rise.

    Then we will all have to figure out how to do things for ourselves instead of relying on corporate product. That is just plain unthinkable. Almost communist.
     
  21. AP_piano295 macrumors 65816

    Joined:
    Mar 9, 2005
    #21
    I'm sorry my sarcasm detector is on the fritz are you being serious?
     
  22. leekohler macrumors G5

    leekohler

    Joined:
    Dec 22, 2004
    Location:
    Chicago, Illinois
    #22
    He's being sarcastic. :)
     
  23. Sydde macrumors 68020

    Sydde

    Joined:
    Aug 17, 2009
    #23
    Sometimes I cannot even tell, myself.

    I did observe just now that the date on the OP link was about a month before the massive market collapse: perhaps this very article's publication contributed to it?

    Oh, yes, I think that last bit really was sarcasm.
     
  24. Eraserhead macrumors G4

    Eraserhead

    Joined:
    Nov 3, 2005
    Location:
    UK
    #24
    Given the EU haven't harmonised their business taxes, let alone the EU and their dependents, e.g. the Channel Islands, Monaco, the Caymans etc., theres a long way to go before that happens.

    What the hell, short of an international deal that isn't going to happen, can you do about it?
     
  25. samiwas macrumors 65816

    Joined:
    Aug 26, 2006
    Location:
    Atlanta, GA
    #25
    You know what else is passed on to customers? The massive salaries and bonuses of CEOs and upper management. But I'm sure that's OK, because those people deserve them (even if the company isn't doing well) and the customers should be happy to have such an amazing person running the company.
     

Share This Page