Corporate and business taxes are just plain wrong!!!!

[nomosendero]

TM7,

No profit, nothing to tax. The US has some of the highest corp tax rates in the civilized world. Corporations are incented, to show as much profit as possible under non-US subsidiaries. Perfectly acceptable and perfectly normal. If you sell a product in a foreign country, they are paying tax in that country. The tax structure has corporations doing whatever they can to perform sale transactions under their foreign entities even if it is to another US corporation/business. As an example, if US corp A sells product to US corp B in say Spain. Even if the goods are sitting in a warhouse in the US, US corp A ships the goods under  Incoterm DDU or DDP to US corp B's subsidiary in Spain. The sale is registered in Spain and the profits on the sale are paid in Spain under US corp A's Spanish sub. Pefectly legal and the tax structure is designed to support this. The profit can only be taxed once. In any case, if you doing business in US and even if you evade paying any federal tax on your profit, your employing people and they are paying income tax and the companies you buy from are paying tax on the goods and services they sell that coorporation.

There you go using logic again.

.
NO PROFIT!...THEN WHY AND HOW DO THEY STAY IN BUSINESS...?? Fact is that on the books there are significant corp tax rates, but the books are 2000 pages of escapes. The above NYT article condensed from a GAO report explains the real situation. Perhaps NS your nominal tax rate is 38% and you've been paying it, if it is I suggest seeing a tax accountant pronto. Some of the best years I remember were close to zero tax years. Corps have legions of tax accountants available. Now, it is a myth that 50% of citizens pay no tax... may be true, but I doubt it, but I happen to know firsthand that many of the wealthiest in the country pay little or no tax. If 50% pay no tax it is likely that the majority of that group simply do not have income or funds to pay tax on...a sad commentary on the last 40 years of goings on in this country.

C4...fact is the Con originally said no direct taxes on citizens as opposed to indirect taxes...period. That is the exact opposite of the situation today.  BTW, how are corps incented to show the largest profit possible...you mean those on the stock exchanges I persume..? There in that casino it is more ratios,,besides there are many corps not publicly held.

Skarke...if the USA is to exist, and it seems to exist primarily to promote perpetual war these days...Congress passing record 'Defense" bills with little or no fanfare...then how do you propose funding these adventures?...always at the expense of citizen programs, at the expense of basic safety net programs, at the expense of solvency, at the expense of infrastucture, etc., and always at the expense of tapped out citizens. Sad fact is that if you want monies for the adventures of empire than you have to go to where the money is at and get it there (and from the entities that most benefit from such adventues)...that means re-looking at the 2000 pages of tax 'escapes' and corps standing up and being patriotic again. If not it is all in vain and corruption.


..TM7

TM, it's actually 48% not paying Fed income taxes, they are paying other taxes. And I agree with you about the 38% tax & the need for the Accountant, but if he's too good then we would be one of those greedy guys & we can't have that, he just needs to be pretty good. 
Yes alot of funds have to pour in for perpetual war, I think a better option is to not be in a perpetual War.
My point before is that no amt. of taxes will satisfy the hunger of the Gov & more imposed to those already paying & to Corp. will just go into the black hole & the Gov. will still borrow more.

[Dixie Dude]

Did you guys know that the average federal workers make 30% more than private enterprise?  Now if you make all federal employees take a 20% tax cut from the president on down, the feds could save $500 billion dollars a year.  Also, with a national sales tax, you could tax imported goods more, which might just help bring factories back.  Bringing factories back would help with full time jobs and health care.     

[skarke]

Dixie,

Illegals pay no income tax, for the most part, but they do buy things.  A sales tax picks up economic activity that is "under the radar"

[SHOOTALL]

Illegals do pay and fica also they just don't recover it . UNLESS , note that many illegals use real ID's that belong to a brother ,cousin etc . They take turns working in the USA and the owner does get over paid taxes etc back .
 The biggest problem with illegals is they are not all stupid . We think we are smarter but they put it over on us .

[Dixie Dude]

That's right, everyone has to buy something, including illegals and corporations.  I heard several years ago, that a national 1% sales tax would generate more money than an income tax.  Reason was, it would pick up where people work (under the table) for cash, and don't report it to avoid taxes, but do spend it.  I didn't think about illegals.  If corporations buy equipment and things just to write off "expenses" to avoid income tax, they would pay the tax on the stuff they bought.  A national sales tax would solve a lot of problems.  

[SHOOTALL]

But it would cut govt. jobs so it won't happen now will it ?

[Oldshooter]

Can you imagine the tax revenue from the bling the "gangstas" would pay, how about the cars, boats and, "cribs" the drug dealers buy! Oh and lets not forget the cash the commercial fishermen run through the stores! Down here on the gulf coast the commerical fishermen make a fortune in cash that does not get reported.

[Foxxtrot]

Flat tax of 20% for corporations with 50 or more employees
Flat tax of 10% for corporations with 10 or less employees

flat tax for individuals

15% over $50k
5% under $49k
1% under $30K

NO LOOPHOLES, no write offs

Consumption tax of 5% for purchases over $5000

Balanced budget
No more pork barrel spending, no riders to bills

Term limits for congress - three terms total for both house and senate
Loss of benefits if ever found guilty of a Felony
Withheld from joining a lobby for 1 yr after term

[SHOOTALL]

That is folly really you forget to tax farmers , maids , small business and a ton more . With sales tax the Govt would have incentive to promote business not restrict it putting folks to work who buy stuff .

[Oldshooter]

FLAt tax works great  for folk that report their income but for those that dont it does not affect them. I say sales tax! if you buy you pay tax!

[SHOOTALL]

I agree ,

[Cabin4]

Illegals do pay and fica also they just don't recover it . UNLESS , note that many illegals use real ID's that belong to a brother ,cousin etc . They take turns working in the USA and the owner does get over paid taxes etc back .
 The biggest problem with illegals is they are not all stupid . We think we are smarter but they put it over on us .

Most illegals are being paid off payroll. So those do not pay any tax of any kind other than retail use tax.

[SHOOTALL]

Not sure about that in construction anymore as contracts even on house work require the correct ID which in many cases is fake but the holding is still taken and sent to the Govt. never to be seen again . It happens i know for a fact.

[Oldshooter]

Not sure about that in construction anymore as contracts even on house work require the correct ID which in many cases is fake but the holding is still taken and sent to the Govt. never to be seen again . It happens i know for a fact.

I can corroborate that!  Seen it my self!

[Matt]

Not sure about that in construction anymore as contracts even on house work require the correct ID which in many cases is fake but the holding is still taken and sent to the Govt. never to be seen again . It happens i know for a fact.

I can corroborate that!  Seen it my self!

Yep that is what they do here

[wreckhog]

Not sure about that in construction anymore as contracts even on house work require the correct ID which in many cases is fake but the holding is still taken and sent to the Govt. never to be seen again . It happens i know for a fact.

Drive by Home Depot at 7am. Those guys have correct ID?

[blind ear]

I have a whole lot less problem with people, legal or not, willing to do manual labor for low wages than I do with our members of congress. The jerks in congress are the ones allowing this country to degrade as it is. That is the way I feel and I doubt it will change. eddiegjr