Top 275 corporations received 1.75 trillion in Tax breaks/3 years

[No Limit]

This report outlines how much the corporations are making,what tax breaks they are getting.In light of the House getting ready to cut a lot of program spending,I thought we needed to know where the real money is going. Yes, these Republicans that gave these corporations this money are the ones that are now trying to take 50 billion from the elderly, disabled, and poor.

http://www.ctj.org/corpfed04an.pdf

 

[CptStern]

"Eighty-two of the 275 companies, almost a third of the total, paid zero or less in federal income taxes in at least one year from 2001 to 2003. In the years they paid no income tax, these companies earned $102 billion in pretax U.S. profits. But instead of paying $35.6 billion in income taxes as the statutory 35 percent corporate tax rate seems to require, these companies generated so many excess tax breaks that they received outright tax rebate checks from the U.S. Treasury, totaling $12.6 billion. These companies’ “negative tax rates” meant that they made more after taxes than before taxes in those no-tax years."



pretty ****ing disgusting

 

[No Limit]

pretty ****ing disgusting

It is. The sad part is they can do anything like this any time they want. Cut food stamps by a billion, sure thing. Cut, 30 billion from medicare, sure thing. But as soon as Democrats try to force that one corporation to pay the 13 billion it is supposed to pay in taxes Republicans run a campaign claiming the dems only want to hike up taxes and they gain even more power than they had before.

 

[ríomhaire]

If I got rich I'd hire an accountant and tell him if he so much as tried to dodge my taxes I'd fire him up the ass.

Honestly, it's a f*cking disgrace. People that rich should be given manditory unalterable tax.

 

[Stigmata]

I'm not surprised at the fact that this is going on, but rather at the numbers. It's always been about widening the gap between the rich and poor, but this is just horrible.

 

[willyd]

Guys lets be fair to the corporations. They are paying taxes. The taxes just happen to be in bribes to all the parties.

 

[Kmack]

take from the poor give to the rich?

 

[dream431ca]

I smell a scam....bad scam. Looks the your republicans like big corporations more than the individual person....guess they rate you on how much money you make...well..that's capitalism.

 

[Kmack]

trickle down economics at its finest.

republicans make me laugh... then cry because they are taken seriously

 

[>>FrEnZy<<]

I'd like to hear what Rakuai Tenjin has to say to this

 

[clarky003]

hickk hyuck.. lets all go arrest ourselves some corporate criminal's!

 

[Caligula]

It is not like taxes weren't paid by someone. When the shareholders received their dividends from the corporations profit they had to pay individual income taxes on those dividends recieved as well.

You people act like corporations are evil. Corporations, ones like Wal-Mart, gave millions of dollars to Katrina relief, not including private donations collected by wal-mart stores. That or take GM, they pay 10% of an employee's income to a retirement fund. Where I work they only pay 3%. As far as that goes GM sounds awesome to me. GM reported BILLIONs in losses this past quarter. As a result the first things that are going to be cut are employee benefits. Would you have them pay more taxes with the end result of having someone's health care cut?

The cited report makes absolutley no mention of what is done with these untaxed profits. How do we know some of these tax breaks didn't keep these corporations up and running, potentially keeping thousands jobs in place? Whatever they did with those profits is pure speculation on your part.

 

[satch919]

^^^^Caligula?! HA! I'm guessing you know who he was right? The guy was apparantly mad and held orgy parties at his house. Crazy guy.

 

[Kmack]

^^^^Caligula?! HA! I'm guessing you know who he was right? The guy was apparantly mad and held orgy parties at his house. Crazy guy.

id party with him

 

[ríomhaire]

Corporations, ones like Wal-Mart, gave millions of dollars to Katrina relief

Publicity.

 

[CptStern]

It is not like taxes weren't paid by someone. When the shareholders received their dividends from the corporations profit they had to pay individual income taxes on those dividends recieved as well.

You people act like corporations are evil. Corporations, ones like Wal-Mart, gave millions of dollars to Katrina relief, not including private donations collected by wal-mart stores. That or take GM, they pay 10% of an employee's income to a retirement fund. Where I work they only pay 3%. As far as that goes GM sounds awesome to me. GM reported BILLIONs in losses this past quarter. As a result the first things that are going to be cut are employee benefits. Would you have them pay more taxes with the end result of having someone's health care cut?

The cited report makes absolutley no mention of what is done with these untaxed profits. How do we know some of these tax breaks didn't keep these corporations up and running, potentially keeping thousands jobs in place? Whatever they did with those profits is pure speculation on your part.

did you read the article? they reported billions of dollars in profits BEFORE being taxed ...some of these companies (example: time Warner ) actually paid zero in taxes despite reaping hundreds of millions in profits

and dont even try to bring wal-mart into the disussion by pointing out they're "ethical" ..ethical my ass