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You mean just like everybody else but excluding big corporations and wealthy individuals?
by cesnja 9y ago
You mean just like everybody else but excluding big corporations and wealthy individuals?
- linkregister 9y agoAre you claiming that a majority of large corporations don't pay income taxes? Is it even 5%?
- kbenson 9y agoI think the claim might be something similar, but not quite that extreme. I don't think it strains credulity to think that the majority of large corporations take advantage of loopholes to drastically reduce their taxes.
- ams6110 9y ago> large corporations take advantage of loopholes Of course they do. They are using legal means to reduce their taxes. Why wouldn't they. Would you decline your mortgage interest deduction, your solar energy or EV deduction, etc. so you could claim you are paying your "fair" share? Go ahead -- nothing is stopping you.
- LockeWatts 9y agoBeing intentionally obtuse about the use of the word "fair" in that context doesn't help you prove your point to anyone who disagrees with you.
- gozur88 9y ago"Fair" is so subjective in the context of taxation it's virtually meaningless. You can't assume other people share the same assumptions rolled up into the word.
- makapuf 9y agoYeah, and large corps totally don't lobby politicians to keep those loopholes open or create new ones. Besides, sometimes legal is enough and sometimes it justifies not buying their product, which is also legal.
- coliveira 9y agoIt is not that they are taking advantage of existing loopholes. They actively lobby to create new loopholes that will enable more "legal" tax evasion.
- ataturk 9y agoRight now there are hundreds of billions of corporate "profits" sitting offshore that can't be brought back into the US because of tax avoidance. If Congress does something to soften the blow, corporations will re-patriate those dollars and put them to better use.
- coldtea 9y agoIt's above 95%. And the claim is not that they don't "pay income taxes" period, but that they don't pay their full income taxes based on actual income, using all kinds of legal, semilegal, and even illegal, schemes.
- stickfigure 9y agoSure, income is revenue minus expenditures so the easiest way to avoid income (and income taxes) is to just spend everything you make. Which is what the parent of this thread was saying. The consequence is that in bad times, the company has to borrow (if it can) or goes bankrupt. Which happens often. We don't generally shed tears over this kind of thing, but this story points out the human tragedy that passes when individuals follow the same strategy. Personally I kinda feel a little meh about the subject. My heart goes out to every struggling business(wo)man - it's hard to make it on your own. But farmers are especially insulated against market forces by a giant morass of subsidies and land use regulations. They're already getting a much bigger handout than they deserve.
- coldtea 9y ago>Personally I kinda feel a little meh about the subject. My heart goes out to every struggling business(wo)man - it's hard to make it on your own. But farmers are especially insulated against market forces by a giant morass of subsidies and land use regulations. They're already getting a much bigger handout than they deserve. Smaller businesses yes. Big businesses get even more subsidies than farmers -- and not just subsidies.
- wfo 9y agoThere are ~20 huge companies each year that pay literally zero taxes [1] (that's for this year, you can go back and find a similar article every year). The lucky ones who manage to hit zero shuffle around every year. The rest of them pay various fractions of their tax rate. Corporate tax on large corporations as a proportion of the taxes collected is the smallest it has ever been in US history. [1] https://www.bloomberg.com/news/articles/2017-03-10/ten-things-to-know-about-companies-that-don-t-pay-taxes https://www.bloomberg.com/news/articles/2017-03-10/ten-thing...
- adamsea 9y agoYes, that's what the parent means.
- deleted 9y ago[deleted]