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 You Pay Higher Taxes Than Boeing and GE, Verizon & 23 More 
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Modmin Dude
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Joined: December 31st, 2004, 9:55 am
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Post Re: You Pay Higher Taxes Than Boeing and GE, Verizon & 23 Mo
Pablo wrote:
TheRealWags wrote:
Kinda sounds like a scare tactic to me. In case you haven't noticed, any company that wants to move to another part of the World already does. It's been happening for over 20 years, are you saying it is all related to the US Corporate Tax rate? If so, please provide data. Thx.
This isn't a scare tactic, it is reality. What has happened to manufacturing in our country with cheaper labor overseas? I'm not saying all companies moving overseas has to do with the US Corporate Tax rate, that is one factor. But if you are an independent company and can make pretty much the same income operating out of two different countries, aren't you going to do so were you get to keep more of those profits? Again, many other factors come into play but you have to look at this realistically and realize that we live in a global market now so you have to be competitive.
Pretty much my point. There isn't 1 thing you can point to, it's a mixture of several. As you pointed out, it could be argued that lower labor costs overseas are way up on the list of reasons as well.
Pablo wrote:
TheRealWags wrote:
Let's also not forget to include the taxes people pay: Income, SSA, Medicare, sales, property, payroll, etc, etc.
First, half the population pays no income taxes or gets more money back than they put into the system. If the gov't pays their rent, they pay no property taxes. Income tax and SS/Medicare is payroll taxes. BTW - have you ever written a check to the SS administration? I bet your employer does every week for over 15% of your income. I realize you "pay" half of that to the gov't who was to put it in a trust fund for us to get back out when we retire. That is until they started taking it all out and writing IOUs.
My point in listing that, as it was apparently missed, was that you pointed to additional taxes businesses pay, so I listed some additional taxes peeps pay.
Pablo wrote:
TheRealWags wrote:
Indeed it is a positive cash flow, but why are you including what the employees do with the corporation?
Because, if you raise corporate taxes and companies move overseas to retain more profit you directly take that money right out of our employees hands and the US economy. It is pretty important.
Gotcha, thx.
That said, who said anything about raising the tax rate? There are several ways to recitify these issues without changing the existing tax rates. Simply close loopholes. Of course, it's about as likely to happen as we are to convert to a consumption tax system...and the most likely reason for that is listed in another

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April 17th, 2014, 10:33 am
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Modmin Dude
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Post Re: You Pay Higher Taxes Than Boeing and GE, Verizon & 23 Mo
Pablo wrote:
TheRealWags wrote:
As I understand it, this is a sample of the corporations that received refunds, not all of them.
Really, I find it hard to believe that an article with this kind of agenda would leave out such critical data. I mean, they are including companies data with negative tenth of one percent in their figures, why would they opt not to include the easy to access data of public companies if they had say a negative 5% then?
Here's the , if you'd like to review it for yourself.

A snippet:
CTJ.org wrote:
NEW REPORT: Many of America’s Most Profitable Corporations Pay Little or No Federal Income Taxes; Multinationals Pay Higher Rates Abroad Than in the U.S.

“Corporate lobbyists incessantly claim that our corporate tax rate is too high, and that it’s not ‘competitive’ with the rest of the world,” said Robert McIntyre, Director of Citizens for Tax Justice and the report’s lead author. “Our new report shows that both of these claims are false. Most of the biggest companies aren’t paying anywhere near 35 percent of their profits in taxes and far too many aren’t paying U.S. taxes at all. Most multinationals are paying lower tax rates here in the United States than they pay on their foreign operations.”

111 of the companies enjoyed at least one year in which their federal income tax was zero or less. 26 companies, including Boeing, General Electric, Priceline.com and Verizon, enjoyed negative income tax rates over the entire five-year period, despite combined pre-tax profits of $170 billion. Of the 125 multinational companies in this sample, two-thirds paid a lower U.S. tax rate than the rate they paid to foreign governments on their foreign profits. On average, their foreign effective tax rate was 12 percent larger than their U.S. effective rate.
111 of the companies enjoyed at least one year in which their federal income tax was zero or less.

26 companies, including Boeing, General Electric, Priceline.com and Verizon, enjoyed negative income tax rates over the entire five-year period, despite combined pre-tax profits of $170 billion.

Of the 125 multinational companies in this sample, two-thirds paid a lower U.S. tax rate than the rate they paid to foreign governments on their foreign profits. On average, their foreign effective tax rate was 12 percent larger than their U.S. effective rate.

The total amount of federal income tax subsidies enjoyed by the 288 profitable corporations over the five years was $362 billion.

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April 17th, 2014, 10:47 am
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RIP Killer
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Post Re: You Pay Higher Taxes Than Boeing and GE, Verizon & 23 Mo
Thanks for the clarification - so it is 26 companies (or 5%) who didn't pay taxes over the five years. I get that others might have had a charge back or something in any given year or deferred taxes, but overall do pay taxes over a given amount of time. Again, comparing that to the US population as a whole where it is about 50% - that is a huge difference.

Bottom line and your point to some degree, and I think we both (if not all agree), the current tax system is very flawed and needs to be changed. Problem is, Coke/Pepsi have no inclination to solve this problem - the status quo is their preferred modus operandi unfortunately and that shows no signs of abating until voting patterns do or a real leader emerges (don't hold your breath).

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April 17th, 2014, 12:03 pm
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