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Two-thirds of U.S. corporations did not pay federal income tax. GAO Report

imyoda

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This Study Shows How Low Corporate America's Taxes Really Are
Two-thirds of U.S. corporations did not pay federal income tax. GAO Report


… “A new government report shows just how easy corporate America has it” …

Every year from 2006 to 2012, some two-thirds of U.S. corporations did not pay federal income tax, according to a Government Accountability Office study released on Wednesday. In 2012 alone, 42.5 percent of businesses that the GAO defines as large did not pay federal taxes, including 19.5 percent of big corporations that posted a profit.

Please what's all the noise about the US not having competitive corporate tax rates………….it is costing us jobs……….

Well I think it’s all a bunch of crap------------- Most of those damn corporations don’t pay a dime in taxes anyway…….and far as those jobs……………. what make’s yall think they give two toots about y’all………

... they took all the good jobs away and I damn sure there’s no plans to bring them jobs back............

... just because the tax rate was lowered from 25% to 15% …..


Are yall starting to get the picture?
 

TurtleDude

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are you pushing for higher taxes on corporations so you can complain when more companies move to more friendly tax areas?
 

reinoe

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are you pushing for higher taxes on corporations so you can complain when more companies move to more friendly tax areas?

I think the point is that when 2/3 aren't paying taxes, then the tax code is messed up. If companies want to go overseas that's fine because they can be tarriffed at that point. I paid more in taxes than 2/3 of corporations.
 

Carjosse

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Logic dictates that if you made your tax rates competitive they might actually pay tax.
 

TurtleDude

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I think the point is that when 2/3 aren't paying taxes, then the tax code is messed up. If companies want to go overseas that's fine because they can be tarriffed at that point. I paid more in taxes than 2/3 of corporations.

I am not a fan of corporations being taxed myself. if those hired by corporations are taxed on their pay and if investors are taxed on their dividends, that should be enough
 

Carjosse

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I think the point is that when 2/3 aren't paying taxes, then the tax code is messed up. If companies want to go overseas that's fine because they can be tarriffed at that point. I paid more in taxes than 2/3 of corporations.

I do think you understand how offshoring money works. You cannot put a tariff on money, that is not how a tariff works. Also the money never actually enters the US in the first place.
 

SheWolf

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are you pushing for higher taxes on corporations so you can complain when more companies move to more friendly tax areas?

No, we should call these "takers" what they are.
 

TurtleDude

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No, we should call these "takers" what they are.

ah an anti corporate rant. so they provide jobs to Citizens, and produce stuff Americans want-how are they "takers"

takers to me are those who suck on the public tit and do nothing valuable for us tax payers.
 

Carjosse

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No, we should call these "takers" what they are.

Well no, you cannot blame them they are being taxed at an extremely high rate and many other countries have lower and sometimes significantly lower rates. That or tighten up the tax code bu then you get a strangling effect.
 

Beaudreaux

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I own a Subchapter S corporation. You could put my company in that two thirds. The company does not pay taxes on the profit it makes. All profit is passed through to my personal tax return and paid at the individual tax rate. The company does, however, pay employer taxes on Unemployment Insurance, Medicare, and Social Security - as does every employer in the US (exception being a 501(c)(3) that has 4 or less employees, and although they do not pay FUTA and in most cases SUTA, they still pay Medicare, and Social Security [FICA] on all their employees).
 

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are you pushing for higher taxes on corporations so you can complain when more companies move to more friendly tax areas?

How about corporations pay their fair share and stop mooching off the little guy???
 

Captain Adverse

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I am not a fan of corporations being taxed myself. if those hired by corporations are taxed on their pay and if investors are taxed on their dividends, that should be enough

I have no problem with this. Just strip them of the protections of faux personhood so that investors not only pay taxes on profits, but carry all the liability for corporate actions as company owners and there should be no need for corporate taxes.
 

TurtleDude

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I have no problem with this. Just strip them of the protections of faux personhood so that investors not only pay taxes on profits, but carry all the liability for corporate actions as company owners and there should be no need for corporate taxes.
that's silly to make investors liable beyond the amount of their investments, that would lead to a massive reduction in corporations in the USA and a massive reductions in the standards of living.
 

TurtleDude

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How about corporations pay their fair share and stop mooching off the little guy???

well in most cases the "little guy" doesn't pay his fair share of taxes so I have no clue what you are talking about

fair share to me is probably a bit more objective than your definition. how are corporations mooching off of the 47% who don't pay federal income taxes for example?
 

Captain Adverse

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that's silly to make investors liable beyond the amount of their investments, that would lead to a massive reduction in corporations in the USA and a massive reductions in the standards of living.

Fine. So if a corporation has certain rights of "personhood," it should not be exempt from taxation like any other "person." :shrug:
 

TurtleDude

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Fine. So if a corporation has certain rights of "personhood," it should not be exempt from taxation like any other "person." :shrug:

sure and it should have the right to run for office and vote then?
 

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Bernie will fix all this when he becomes president, so I'm not worried about it.
 

TurtleDude

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Bernie will fix all this when he becomes president, so I'm not worried about it.

Yeah and Dumbo the elephant will be the secretary of commerce in that administration.
 

eohrnberger

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I think the point is that when 2/3 aren't paying taxes, then the tax code is messed up. If companies want to go overseas that's fine because they can be tarriffed at that point. I paid more in taxes than 2/3 of corporations.

I think you are right on this one.

The tax code is seriously messed up. It's all the years of congress writing into loop holes for their patrons. It's resulted in an opaque byzantine mess and it's high time that it's cleaned up. The only thing is I distrust those presently elected to congress to do an honest job of doing that. That which is indeed most needed.
 

Captain Adverse

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sure and it should have the right to run for office and vote then?

Well I think the SCOTUS decision in Citizens United gives "corporate persons" more power than mere "human persons" to influence who gets to run, how we should vote, and who gets elected. ;)
 

coldjoint

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that's silly to make investors liable beyond the amount of their investments, that would lead to a massive reduction in corporations in the USA and a massive reductions in the standards of living.

I wonder how many of these people have ever been hired by a poor man.
 

Crovax

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This Study Shows How Low Corporate America's Taxes Really Are
Two-thirds of U.S. corporations did not pay federal income tax. GAO Report


… “A new government report shows just how easy corporate America has it” …

Every year from 2006 to 2012, some two-thirds of U.S. corporations did not pay federal income tax, according to a Government Accountability Office study released on Wednesday. In 2012 alone, 42.5 percent of businesses that the GAO defines as large did not pay federal taxes, including 19.5 percent of big corporations that posted a profit.

Please what's all the noise about the US not having competitive corporate tax rates………….it is costing us jobs……….

Well I think it’s all a bunch of crap------------- Most of those damn corporations don’t pay a dime in taxes anyway…….and far as those jobs……………. what make’s yall think they give two toots about y’all………

... they took all the good jobs away and I damn sure there’s no plans to bring them jobs back............

... just because the tax rate was lowered from 25% to 15% …..


Are yall starting to get the picture?

think you are missing the picture, most companies pay no income tax because they lost money or were still carrying losses from a previous year. and most of the ones who dont pay taxes are also small business.
 

Lutherf

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There is so much crap in this meme that my waders start to fill up.

First off, as Beaudreaux said, Scorps are pass through entities which are taxed at the individual level but even if we leave them out of the equation you've still got private C corporations which, since they are taxed at 35% on damned near everything, bump up the principle's wages until any profit gets used up. The owner then pays taxes on his increased wages.

For public corporation, especially international ones, they pay foreign taxes on their foreign profits. If that tax is more than what they would have owed on that money here then they don't pay US taxes on that income. Other corporations may have generated a significant loss in a prior year. If that happens then they get to use that loss to offset profit in the current year. Everybody loves to bitch about CEO's getting humongous salaries when their corporations have huge losses, well, those losses are why the corporation doesn't pay taxes in the year it has a huge profit. By the way, if you think that rule is just for big corporations you're wrong. You get the same treatment when you have a business NOL for your home blogging/ebay business.
 

imyoda

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think you are missing the picture, most companies pay no income tax because they lost money or were still carrying losses from a previous year. and most of the ones who dont pay taxes are also small business.

I just love folks like you who so confidently and contemptuously speak to someone as if you knew what you were talking about……….

You think yourself so fact filled you don’t need to read news reports or peruse silly study………

If you had bothered to read them, you wouldn’t be as **** sure as you thought you were………….

About 20% of the large corporations showing a profit never paid one slim dime of taxes….

So please don’t smugly tell me “I’m not getting the picture….

… when all you are doing is pulling BS out of your tutu and spreading it around as if it were fact…

Next time read the information provided ………maybe you might learn something
 

Crovax

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I just love folks like you who so confidently and contemptuously speak to someone as if you knew what you were talking about……….

You think yourself so fact filled you don’t need to read news reports or peruse silly study………

If you had bothered to read them, you wouldn’t be as **** sure as you thought you were………….

About 20% of the large corporations showing a profit never paid one slim dime of taxes….

So please don’t smugly tell me “I’m not getting the picture….

… when all you are doing is pulling BS out of your tutu and spreading it around as if it were fact…

Next time read the information provided ………maybe you might learn something

Maybe you should have read the report and then you wouldnt look so silly

Reasons why even profitable corporations may have paid no federal tax in a given year include the use of tax deductions for losses carried forward from prior years and tax incentives, such as depreciation allowances

U.S. GAO - Corporate Income Tax: Most Large Profitable U.S. Corporations Paid Tax but Effective Tax Rates Differed Significantly from the Statutory Rate
 
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