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(Yahoo)   Think America gives too many breaks to big business? U.S. corporations pay 39% tax while the average for industrialized nations is only 25%   (finance.yahoo.com) divider line 112
    More: Interesting, United States, developed country, fairs, technical analysis, corporate tax, tax rates  
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1148 clicks; posted to Business » on 10 Jul 2012 at 2:54 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-10 11:50:36 AM
Sure. I'll be more than happy to change the statutory tax rate to 25% for American corporations.

We will just eliminate EVERY farkING LOOPHOLE YOU CORPORATE farkWADS USE TO RAPE THE WORKING CLASS.

I mean jesus...the rate may be 39%...but how many corporations pay that? How many corporations get a net gain from the government in rebates, incentives, etc?

You can have a lower rate....just expect that we'lll actually force you to farking pay it for once. See how you like them apples.
 
2012-07-10 11:59:25 AM
Jesus christ, subby.
 
2012-07-10 12:04:01 PM
That's why companies like GE paid a grand total of 0% taxes last year!
 
2012-07-10 12:10:40 PM
World's saddest song on the world's smallest violin.
 
2012-07-10 12:14:45 PM
yep, all corporations have tens of thousands of employees, strong lobbying organizations and the ability to take their business overseas. They're lying when they say 85% of all corporations in the US are small businesses.
 
2012-07-10 12:45:35 PM
Subby, you're an idiot. Seriously, if you can't think through the article then you're foolish.
 
vpb [TotalFark]
2012-07-10 02:22:59 PM
Actually 39% is the maximum rate. It varies from 15-39% Unless you count all the loopholes and loss caryovers and deductions and such. The effective tax rate was 12.1% in FY2011.

2/3rds of companies don't even pay tax.
 
2012-07-10 02:31:04 PM
cloudfront.mediamatters.org
 
2012-07-10 02:56:02 PM
Please don't post a story until you're over the age of seven.
 
2012-07-10 03:01:07 PM
"As of April 1, the United States achieved the dubious distinction of having the highest corporate tax rate in the world," says James Pinkerton, Vice Chairman of the RATE (Reforming America's Taxes Equitably) Coalition, a bi-partisan group that is backed by 27 of the country's biggest businesses, as well as elected officials from both parties. He says that at a time of weak economic growth and hiring, "it's crazy" that U.S. companies face this hurdle alone.
...
But Pinkerton points out, contrary to conventional wisdom, corporate taxes account for less than 7% of total tax receipts, and that the ancillary effects of a stagnant hiring environment are far more costly.


corporations are paying way too much in taxes...and lowering them won't hurt the federal budget because corporations pay next to nothing in taxes. WHY ARE YOU LAUGHING?!?
 
2012-07-10 03:02:19 PM
Moron confuses tax rate with taxes paid.

US corporations pay on average the same actual amount of taxes as other countries.

Yes, we have a higher tax rate - but we offer a ton of deductions, and other means of lowering taxes.
 
2012-07-10 03:02:22 PM
U.S. corporations pay 39% tax

LOL
 
2012-07-10 03:02:50 PM
And I cry for them every night. Poor, poor million dollar corporations. Woe, the plight of the Walmart. Woe the burden of higher profits, lower regulations, and paying a little more taxes (maybe) than in other countries. Where's their telethon, St. Jude's?
 
2012-07-10 03:09:43 PM
Do people believe this drivel?
 
2012-07-10 03:13:21 PM

HellRaisingHoosier: Do people believe this drivel?


I do, Corporate America wouldn't lie.
 
2012-07-10 03:13:25 PM

HellRaisingHoosier: Do people believe this drivel?


Two kinds of people:

1) morons
2) paid shills

That's about it.
 
2012-07-10 03:15:05 PM
Came here to berate subby's intelligence, but I can see I'm not needed here.

/good jorb, everyone
 
2012-07-10 03:18:30 PM
Does the math on these 'corporations' include all of them? Like that guy down the road who incorporated so he wouldn't lose his personal things when he gets sued.
 
2012-07-10 03:20:09 PM
I love how the article talks about getting businesses hiring again by cutting taxes.

The last two years were the most profitable net years ever for American corporations.

The tax rate has nothing to do with why they aren't hiring. America's corporations are literally doing better than they ever have. They don't want to hire, because they certainly have the capital to do it.
 
2012-07-10 03:20:45 PM
Corporations pay taxes on their profit, not on their income. I *might* shed a tear if they had to pay 39% in taxes before expenses. I'd be really happy if i could deduct rent, non-recreational food, work-home transportation fees, clothing, etc, from my taxable income.
 
2012-07-10 03:33:44 PM

Eps05: Corporations pay taxes on their profit, not on their income. I *might* shed a tear if they had to pay 39% in taxes before expenses. I'd be really happy if i could deduct rent, non-recreational food, work-home transportation fees, clothing, etc, from my taxable income.


Are you unaware of what the Standard Deduction and Personal Exemption are? You are getting, at minimum, an $8000 deduction from your AGI to arrive at taxable income.

But you do know that corporate deductions are not from taxable income, right? They are from total income, which is used to arrive at taxable income.
 
2012-07-10 03:33:46 PM
Have you gone to a convenience store lately and purchased a bottle of soda or a candy bar? Did you pay sales tax on that purchase?

Congratulations, you've paid more in taxes than General Electric did in 2010.

/if you believe corporations pay the full 39%, I've got some high-quality real estate for sale about two miles west of the Sawgrass Expressway
//$ome people are more equal than others
 
2012-07-10 03:33:58 PM

Eps05: Corporations pay taxes on their profit, not on their income. I *might* shed a tear if they had to pay 39% in taxes before expenses. I'd be really happy if i could deduct rent, non-recreational food, work-home transportation fees, clothing, etc, from my taxable income.


that presents an interesting thought experiment. what if you incorporated. your body is a factory that produces poop and CO2, food and oxygen are your raw materials, you need some place to store your machinery, so wouldn't that make rent and food tax deductible? I mean, if corporations can be people, can actual people be corporations?
 
2012-07-10 03:38:36 PM
BULLSHIAT

Sure the rate may be 39%, but I doubt many corporations actually pay that.

30 huge American companies pay zero or less than zero in income tax and that is just the a small sampling.
 
2012-07-10 03:38:53 PM

King Something: Have you gone to a convenience store lately and purchased a bottle of soda or a candy bar? Did you pay sales tax on that purchase?

Congratulations, you've paid more in taxes than General Electric did in 2010.

/if you believe corporations pay the full 39%, I've got some high-quality real estate for sale about two miles west of the Sawgrass Expressway
//$ome people are more equal than others


Are you saying that GE paid nothing in sales taxes, property taxes, payroll taxes, etc?

BTW: that talking point has already been refuted:

http://features.blogs.fortune.cnn.com/2011/04/04/the-truth-about-ges- t ax-bill/

http://factcheck.org/2012/04/warren-ge-pays-no-taxes/
 
2012-07-10 03:41:28 PM

Corporate Self: BULLSHIAT

Sure the rate may be 39%, but I doubt many corporations actually pay that.

30 huge American companies pay zero or less than zero in income tax and that is just the a small sampling.


CTRL-F "corporate" phrase not found.

CTRL-F "company" phrase not found.

Perhaps you wanted to link to a different article?
 
2012-07-10 03:44:19 PM

Bontesla: Subby, you're an idiot. Seriously, if you can't think through the article then you're foolish.


Leave Subby alone...he's like a child!

bigf00te.files.wordpress.com
 
2012-07-10 03:45:52 PM
How does one go about becoming a paid shill? I am willing to enthusiastically support things in return for a reasonable fee.

If we keep punishing the corporations for making a buck they are going to all move off shore where we won't get ANY tax money!

Every dollar a corporation spends on taxes is a dollar they DON'T spend on keeping jobs here in AMERICA.

et cetera.

I am also versatile:

The big corporations have been living off the sweat, blood, and tears of the average American for far too long, it's time they gave something BACK!

Corporate culture is ruining the America I love, let's make this country OURS again!

and so on.

Keyword capitalization is, of course, optional.
 
2012-07-10 03:46:32 PM
Remember, corporations aren't people unless it comes to paying taxes.
 
2012-07-10 03:46:45 PM
clccharter.org

See, Mr. Banker, your marginal height is roughly 6', but after we've made our deduction, your effective height will be considerably less.
 
2012-07-10 03:50:35 PM

The_Six_Fingered_Man: Are you saying that GE paid nothing in sales taxes, property taxes, payroll taxes, etc?


Using that exact same logic, the GOP talking point about how "half of the people pay no taxes" is also complete bullshiat. Plus anything about how illegal immigrants pay no taxes.

FWIW.

Hypothetical situation: If we offered all corporations a flat rate tax on income of 15% with no deductions, no loopholes, no nothing or allowed them to keep the current tax system and its ominous "39% rate"...which do you think most would choose?
 
2012-07-10 03:53:52 PM

The Homer Tax: Using that exact same logic, the GOP talking point about how "half of the people pay no taxes" is also complete bullshiat. Plus anything about how illegal immigrants pay no taxes.


This is true. Either the situations are the same, or they are not.

The Homer Tax: Hypothetical situation: If we offered all corporations a flat rate tax on income of 15% with no deductions, no loopholes, no nothing or allowed them to keep the current tax system and its ominous "39% rate"...which do you think most would choose?


Good question. Without looking at the raw data, I can't say what would be more advantageous to business in general. My first inclination is to say that they would stick with the 39%, but again, I can't make an educated assumption on that point without reviewing the data.
 
2012-07-10 03:54:18 PM

The Homer Tax: The_Six_Fingered_Man: Are you saying that GE paid nothing in sales taxes, property taxes, payroll taxes, etc?

Using that exact same logic, the GOP talking point about how "half of the people pay no taxes" is also complete bullshiat. Plus anything about how illegal immigrants pay no taxes.

FWIW.

Hypothetical situation: If we offered all corporations a flat rate tax on income of 15% with no deductions, no loopholes, no nothing or allowed them to keep the current tax system and its ominous "39% rate"...which do you think most would choose?


Considering the average effective tax rate posted up thread was 12.2%, I would say they take the current system.
 
2012-07-10 03:58:37 PM
Can someone name a Fortune 500 company paying 39%? 35%? Even an effective rate in the 20% range.

It's an economy of scale. Once you get large enough to hire weasel accountants they can lower your effective tax rate until you can hire another, and another. Soon your company is paying near zero in taxes, but $500 million a year for weasel food.
 
2012-07-10 04:00:32 PM
Corporations pay no taxes. The end user pays them in the final cost of the product or service.
 
2012-07-10 04:04:52 PM

IamSoSmart_S_M_R_T: Bontesla: Subby, you're an idiot. Seriously, if you can't think through the article then you're foolish.

Leave Subby alone...he's like a child!

[bigf00te.files.wordpress.com image 300x389]


I'm sorry Zach Galifianakis
 
2012-07-10 04:05:34 PM

bojon: Corporations pay no taxes. The end user pays them in the final cost of the product or service.


so we're just going to ignore price elasticity then?
 
2012-07-10 04:10:52 PM

wildcardjack: Can someone name a Fortune 500 company paying 39%? 35%? Even an effective rate in the 20% range.

It's an economy of scale. Once you get large enough to hire weasel accountants they can lower your effective tax rate until you can hire another, and another. Soon your company is paying near zero in taxes, but $500 million a year for weasel food.


The same happens with individuals. Hardly anyone pays their marginal (or statutory) rate.

To answer your question though, the CTJ report that said that the companies were not paying their share also noted at least 70 of the 280 Fortune 500 companies paying in the neighborhood of 30%.
 
2012-07-10 04:12:51 PM
Subby just needs to choke on a bag of dicks. He's either a troll or someone too stupid to not choke on a dick.
 
2012-07-10 04:13:55 PM

The_Six_Fingered_Man: wildcardjack: Can someone name a Fortune 500 company paying 39%? 35%? Even an effective rate in the 20% range.

It's an economy of scale. Once you get large enough to hire weasel accountants they can lower your effective tax rate until you can hire another, and another. Soon your company is paying near zero in taxes, but $500 million a year for weasel food.

The same happens with individuals. Hardly anyone pays their marginal (or statutory) rate.

To answer your question though, the CTJ report that said that the companies were not paying their share also noted at least 70 of the 280 Fortune 500 companies paying in the neighborhood of 30%.


as long as we can all agree that this is an exceptionally disingenuous study released by a group funded entirely by a small collection of large corporations, i think we can also agree that many corporations pay a reasonably sizable amount in taxes.
 
2012-07-10 04:15:02 PM

The_Six_Fingered_Man: wildcardjack: Can someone name a Fortune 500 company paying 39%? 35%? Even an effective rate in the 20% range.

It's an economy of scale. Once you get large enough to hire weasel accountants they can lower your effective tax rate until you can hire another, and another. Soon your company is paying near zero in taxes, but $500 million a year for weasel food.

The same happens with individuals. Hardly anyone pays their marginal (or statutory) rate.

To answer your question though, the CTJ report that said that the companies were not paying their share also noted at least 70 of the 280 Fortune 500 companies paying in the neighborhood of 30%.


Sorry, to answer your question with a specific example, the CTJ found that Honeywell International had an effective rate in 2011 of 43.6%

DuPont was at 45.6%

Both are in the top 80 companies in the Fortune 500.
 
2012-07-10 04:17:31 PM

thomps: The_Six_Fingered_Man: wildcardjack: Can someone name a Fortune 500 company paying 39%? 35%? Even an effective rate in the 20% range.

It's an economy of scale. Once you get large enough to hire weasel accountants they can lower your effective tax rate until you can hire another, and another. Soon your company is paying near zero in taxes, but $500 million a year for weasel food.

The same happens with individuals. Hardly anyone pays their marginal (or statutory) rate.

To answer your question though, the CTJ report that said that the companies were not paying their share also noted at least 70 of the 280 Fortune 500 companies paying in the neighborhood of 30%.

as long as we can all agree that this is an exceptionally disingenuous study released by a group funded entirely by a small collection of large corporations, i think we can also agree that many corporations pay a reasonably sizable amount in taxes.


Well, it is disingenuous, but not for the reason you stated.

CTJ has no access to tax returns, so they are using the 10-K, which is not a tax form, has no concrete calculations of tax owed, and cannot be used to accurately determine tax liability for a publicly traded company.

But since so many Farker put so much stock in it, I'll use it to illustrate my point, even if they bury the offending data in their report to make their point look better.

If given an hour or so, I could reasonably determine from IRS data the number of corporations that paid close to the 35% rate.
 
2012-07-10 04:24:56 PM
People like subby shouldn't discuss topics they do not fully understand.
 
2012-07-10 04:28:40 PM
One sentence in the article did mention that the effective tax rate was well below 39% but did not hold the spokesman for RATE to address that point but instead allowed him to address an entirely different point.
 
2012-07-10 04:34:57 PM
Meanwhile, back in reality, that noted left-wing shill news rag, The Wall Street Journal, notes that:

Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S.

http://online.wsj.com/article/SB1000142405297020466220457719949223321 5 330.html (paste it yourself and remove the spaces Fark inserts)

/Subby's blatant lies
//How do they work?
 
2012-07-10 04:36:38 PM
Smithers: Actually, sir, with our creative book-keeping and corporate loop holes we only pay $3 a year.
Mr. Burns: [Shocked] You're right, we're getting screwed!
 
2012-07-10 04:41:04 PM

Minarets: The Homer Tax: The_Six_Fingered_Man: Are you saying that GE paid nothing in sales taxes, property taxes, payroll taxes, etc?

Using that exact same logic, the GOP talking point about how "half of the people pay no taxes" is also complete bullshiat. Plus anything about how illegal immigrants pay no taxes.

FWIW.

Hypothetical situation: If we offered all corporations a flat rate tax on income of 15% with no deductions, no loopholes, no nothing or allowed them to keep the current tax system and its ominous "39% rate"...which do you think most would choose?

Considering the average effective tax rate posted up thread was 12.2%, I would say they take the current system.


High 20%s per meat0918's graph upthread.
 
2012-07-10 04:43:28 PM

The_Six_Fingered_Man: The_Six_Fingered_Man: wildcardjack: Can someone name a Fortune 500 company paying 39%? 35%? Even an effective rate in the 20% range.

It's an economy of scale. Once you get large enough to hire weasel accountants they can lower your effective tax rate until you can hire another, and another. Soon your company is paying near zero in taxes, but $500 million a year for weasel food.

The same happens with individuals. Hardly anyone pays their marginal (or statutory) rate.

To answer your question though, the CTJ report that said that the companies were not paying their share also noted at least 70 of the 280 Fortune 500 companies paying in the neighborhood of 30%.

Sorry, to answer your question with a specific example, the CTJ found that Honeywell International had an effective rate in 2011 of 43.6%

DuPont was at 45.6%

Both are in the top 80 companies in the Fortune 500.


Stop confusing them with facts. Left wing shills HATE it when you contradict the narrative prescribed to them.
 
2012-07-10 04:44:26 PM
Think America gives too many breaks to big business?

Yes. And not just tax breaks.
 
2012-07-10 04:46:41 PM

bojon: Corporations pay no taxes. The end user pays them in the final cost of the product or service.


Investors indirectly pay corporate taxes (as well as dividend or cap gains taxes) Of course, the taxes reduce incentive for investors to enter industry, thereby reducing supply and indirectly increasing costs to consumers.
 
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