"HeyBub" wrote in message
...
DGDevin wrote:
"JoeSpareBedroom" wrote in message
...
There's a big difference between "low corporate taxes" and "no
corporate taxes". Do you think it's right for American corporations
to pay NO taxes based on money they make entirely within America?

Bingo. America has a high rate of corporate tax (about to be the
highest once Japan cuts its rate) but since many corporations find
ways to slide around that tax rate it's not a realistic figure. And
when a company can pay little or no tax at all, something is wrong. The
Obama administration wants to cut the basic rate but also close
the loopholes, that will draw predictable screams of outrage from the
Republicans no matter how good an idea it is.

You are correct about the US corporate tax rate (now second) about to
become
the largest in the world.

I disagree that when a company pays little or nothing, that something is
amiss. In my view, corporations should pay no tax at all !

That's nice for you, but I'd rather they pay their fair share and not stick
ME with the bill for the shortfall. I can only assume you're incorporated
because your view isn't one most wage earners hold. Most people are
disgusted to learn Exxon and GE evade taxes while posting record profits.
Especially when they're paying $4 a gallon for gas and 32% interest on
credit card debt.

Profits from operations are either retained - and create jobs - or are
distributed to the shareholders. If the latter, the shareholders pay the
tax.

What a crock! Yeah, they create jobs. In Asia and Africa, but not the US.
That's the serious flaw in your contention. Another flaw is contending that
the money goes to the stockholders. Where do you think the enormous
multi-million dollar compensation packages for CEO's comes from? The
Compensation Fairy?

To tax the corporation's profits then tax the remainder when the profits
are
distributed is double taxation.

Yeah, well I pay income tax and then I am taxed again with sales taxes when
I buy something. If I can suffer double taxation, GE and Exxon surely can
as well.

Further, corporate taxation is a huge incentive driving corporations
overseas (and taking jobs with them).

A few good laws would stop that exodus as well as putting an end to Cayman
Island tax havens. But politicians will never do that because their
existence depends on corporate donations. It's especially true now that the
Roberts court has declared corporations can buy elections without any
serious accountability.

As for "sliding around the rate," you are correct. Our tax code has two
goals: 1) Raise revenue, and 2) Promote various social goals. In almost
all
cases, it's one or the other.

What are you, an anarchist?

Those who complain about GE not paying taxes are often the same ones who
gleefully pocket a $10,000 credit for buying a Prius or insulating their
attic.

That's overly simplistic because we don't know what we get when we give GE a
free ride. We do know that by giving citizens a credit for becoming more
energy efficient that we are promoting the oft-lauded Republican goal of
achieving energy independence. Are you telling us now that's a bad thing?

These protesters should, instead, rejoice that some social goals were
advanced by GE's accounting prowess.

What are you talking about? What goals? They are tax cheats, plain and
simple, just like Tim Geithner. And both have escaped justice leaving
others to pay the share of taxes they "avoided." I have a friend who
worked at the World Bank and he says they make you sign document after
document saying that you understand they don't withhold taxes - that's the
employee's job. Somehow, boy genius and financial expert Timmy missed all
those notices. Both Tim and GE got to slide while I had to fork over
thousands to the IRS. That's just not right.

--
Bobby G.