When Corporations pay no Income Tax its called Capitalism

When Corporations pay no Income Tax its called Capitalism (Full Version)

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Masta808 -> When Corporations pay no Income Tax its called Capitalism (11/3/2011 12:53:23 PM)
30 Major Corporations Paid No Income taxes even though they made $160 billion in profits. Its called Capitalism. When 51% of America do not pay income taxes they are dead beats that are not paying their fair share. Thats American.

willbeurdaddy -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 12:54:24 PM)
FR No, its called government interfering with the markets.

Masta808 -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 1:04:15 PM)
quote: ORIGINAL: willbeurdaddy FR No, its called government interfering with the markets. Yes because corporations that pay NOTHING in income taxes is how government interferes with markets.

MrRodgers -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 1:25:17 PM)
quote: ORIGINAL: willbeurdaddy FR No, its called government interfering with the markets. ...and the capitalist, greed being fundamental to capitalism, (Adam Smith) exercises [his/its] constitutionally protected (capitalist fascist court) free speech otherwise known as money, shouting (purchasing) tax law on 'K' Street to effect these advantages. It is govt. interfering in the markets only by (a reduction) lowering demand from requiring through the income tax code, labor to pay any additional govt. costs or debt service required directly resulting from those advantages. BTW, if one gets the impression that our tax code is immoral, when combined with the capital gains and carried interest rates...it is.

tazzygirl -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 2:46:31 PM)
GE, for example, has paid no federal taxes in the past three years... yet are reporting record domestic profits. How? Federal loopholes and tax breaks.

hlen5 -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 2:51:49 PM)
Business complains about the US having among the most expensive corporate tax rates. If they actually PAID their taxes, how much lower could the rate really be?

Sanity -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 3:46:56 PM)
Are we talking about Obamas uber cozy relationship with Jeffry Immelt / GE? Thats called 'crony capitalism'. quote: ORIGINAL: willbeurdaddy FR No, its called government interfering with the markets.

mnottertail -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 3:52:55 PM)
quote: ORIGINAL: Sanity Are we talking about Obamas uber cozy relationship with Jeffry Immelt / GE? Thats called 'crony capitalism'. quote: ORIGINAL: willbeurdaddy FR No, its called government interfering with the markets. No, we are talking about republicans uber cozy servility of the military-industrial complex, yanno, like Bechtel, Haliburton, GE, Westinghouse, and so on and so forth? Thats called 'craven corporate appeasment'.

tj444 -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 4:24:57 PM)
FR http://www.cbsnews.com/video/watch/?id=7376848n&tag=segementExtraScroller;housing this is where GE is and paying most of their tax, its legal just as the mortgage interest on one's personal home is a legal tax deduction. I bet if the govt decided that the mortgage interest tax deduction would be eliminated there would be an uproar.. but there are some people that think its time it is eliminated as well. When you think about it, its unfair to renters and to homeowners that pay cash or have paid off their mortgages that their neighbor is up to his eyeballs in mortgage debt but gets a deduction for the interest on it. Maybe people would act more responsibly too then and only buy a house they could actually afford. Also, imo the reason the businesses that are in the US pay 35% is cuz they are too small or whatever and there is no way for them to shift income to outside of the US (or darn right they would, imo). Any company that is in any other country besides the US, imo the chance is very high that they shift income into intermediary subsidiaries and do other things like that.

tazzygirl -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 4:28:19 PM)
I dont think anyone said they were committing fraud. Unless you saw something I didnt, in which case, please point it out.

hlen5 -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 4:30:53 PM)
I think a limitedly progressive flat tax would be fair if there are no loopholes. Just think what it would do for US coffers if BP et al would really pay, say 4% on their mega-billion quarterly profits.!

MrRodgers -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 4:49:41 PM)
quote: ORIGINAL: Sanity Are we talking about Obamas uber cozy relationship with Jeffry Immelt / GE? Thats called 'crony capitalism'. quote: ORIGINAL: willbeurdaddy FR No, its called government interfering with the markets. More ridiculous partisan swill. We are much more accurately living in the republican marriage with their corporate spouses. The corporate plutocracy has been in full force for over a century and is still operating with financial impunity particularly as reflected by the enrichment of them and the top earners during the most recent republican regimes of over 30 years. A little perspective on govt. receipts and spending. 2010 Soc. Sec., i.e., payroll tax receipts...$800 billion. Soc. sec. expenditures $652 billion yielding an over-payment of $148 billion. Total corporate tax receipts...$300 billion. Projected 2012 defense spending...$711 billion. Total Bush II tax cuts...$4.2 Trillion. An admitted two-term squandering of the Soc. Sec. over-payment of some $1.37 trillion.

mnottertail -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 4:56:18 PM)
damn near 2 centuries plus if you go back to trusts, before corporate enabling laws.

tj444 -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 5:05:11 PM)
quote: ORIGINAL: hlen5 I think a limitedly progressive flat tax would be fair if there are no loopholes. Just think what it would do for US coffers if BP et al would really pay, say 4% on their mega-billion quarterly profits.! but.. but... then what would all the tax lawyers and tax accountants do? they will be unemployed!!! [:D] I have always liked the idea of a flat tax, depending on how it was set up.

Masta808 -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 5:07:48 PM)
Freddie Mac reports Q3 loss, asks for $6B in tax payer money. This is called capitalism. The Executives got $12 million in bonuses last year I wonder how much they will get this year. With all their hard work they deserve it. Its not their fault that they are posting a lost, its the 99% fault that they are not buying house and creating more mortgages. The government needs to bail them out so we can keep the mortgages market working. Its not socializing the loses and privatizing the wealth at all even though the government will not make a profit from such a deal and Freddie Mac will give out bonuses again. Its Obama fault, this more of his TARP bullshit that he did before.

MrRodgers -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 5:14:15 PM)
quote: ORIGINAL: mnottertail damn near 2 centuries plus if you go back to trusts, before corporate enabling laws. Of course the use of the entity of something called a 'corporation' goes back to the 1300's and is mere abstraction. The primary purpose for creating that abstraction and not something that achieves reality, the corporation but...is to limit personal liability. This is so losses cannot exceed the amount which they contributed to the corporation as dues or payment for shares. This "enables" corporations to "socialize their costs" for the primary benefit of shareholders; to socialize a cost is to spread it to society in general. (through investment losses or banking costs) This is achieved to a great deal by the pooling of risk in lending which is the function of banks and illustrates the hypocrisy in the argument that govt. should not ever act collectively in the interest of the citizen. Now just who are the socialists and who benefits most from govt. 'entitlements ?'

MrRodgers -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 5:45:06 PM)
quote: ORIGINAL: Masta808 Freddie Mac reports Q3 loss, asks for $6B in tax payer money. This is called capitalism. The Executives got $12 million in bonuses last year I wonder how much they will get this year. With all their hard work they deserve it. Its not their fault that they are posting a lost, its the 99% fault that they are not buying house and creating more mortgages. The government needs to bail them out so we can keep the mortgages market working. Its not socializing the loses and privatizing the wealth at all even though the government will not make a profit from such a deal and Freddie Mac will give out bonuses again. Its Obama fault, this more of his TARP bullshit that he did before. Except of course that the whole mortgage fiasco and financial meltdown including TARP, was strictly a Bush and in general...a republican creation. The bonuses are merely another simple reflection of the obvious immorality of capitalism. (moneyism) These govt. insurance(s) or protections are socializing risk and now at very high taxpayer costs obviously protecting private wealth. Remember the phrase 'moral hazard ?' We've been living it for 80 years. Do not go into govt. mortgage warehousing which exists to protect the investor in land the home builder, which Fannie has done since 1938. Otherwise, why is the fed govt. in the business of guaranteeing anything like a $700,000+ mortgage ? Obvious.

tazzygirl -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 5:48:03 PM)
quote: ORIGINAL: hlen5 I think a limitedly progressive flat tax would be fair if there are no loopholes. Just think what it would do for US coffers if BP et al would really pay, say 4% on their mega-billion quarterly profits.! Why make it progressive? A flat tax should be just that... everyone pays in a set percentage.... the same percentaget...the cut off being poverty level. No other exceptions.

kdsub -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 7:52:35 PM)
Not capitalism...crooks...capitalism is jut the ability of private citizens to own companies that produce goods and sell them in a competitive market. Crooks don't pay taxes...even if using legal loopholes and I am all for closing those loopholes so they pay their fair share... Reagan did it why can't Obama? Butch

Masta808 -> RE: When Corporations pay no Income Tax its called Capitalism (11/3/2011 8:01:54 PM)
quote: ORIGINAL: kdsub Not capitalism...crooks...capitalism is jut the ability of private citizens to own companies that produce goods and sell them in a competitive market. Crooks don't pay taxes...even if using legal loopholes and I am all for closing those loopholes so they pay their fair share... Reagan did it why can't Obama? Butch So you are saying the Rich aka the Job Creators or this case the Rich corporations that have the wealth are crooks? As Reagan said quote: Governments don't reduce deficits by raising taxes on the people; governments reduce deficits by controlling spending and stimulating new wealth. In other words you want to raise taxes? why do you hate Ronald Reagan?

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