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Yeah, you hard working suckers, who will never see a dime from social security and medicare. Pay your taxes. Oh, btw: 25 Corporations That Pay Less Taxes Tha

Yeah, you hard working suckers, who will never see a dime from social security and medicare. Pay your taxes. Oh, btw: 25 Corporations That Pay Less Taxes Than You Do 1.) GE - 0 taxes, actually gained 3.2B refund 2.) Google - 2.4% 4.) Goldman Sachs - 0 taxes. actually gained 800B refund 12.) Amazon - 4.3% 18.) Microsoft - 5% http://www.businesspundit.com/25-corporations-that-pay-less-taxes-than-you-do/ http://www.businesspundit.com/25-corporations-that-pay-less-...

knowtheory 15y ago
And we should close tax loopholes and demand that corps pay their taxes. Something being held up by the Republican controlled Congress. Private jet tax breaks and all.
- dotBen 15y ago
  I agree. I totally agree that corporations need to be paying these taxes. Totally agree. But let's be clear what will happen. Their profits will immediately drop. They will put up prices in order to stem the decrease in profit. We will all pay a lot more for the same goods we used to pay less for. And not just when we buy directly from the very same corporations, but b2b companies will be forced to pass on the costs incurred by GE's price increases, etc.
  - knowtheory 15y ago
    I'm not sure i agree, but i don't know that i'm qualified to speak on the subject. In the case of necessities w/ inelastic demand, maybe that's possible. But w/ products where there are viable alternatives, i don't agree that that's a necessary consequence. And even things like gas usage, there is flexibility in the demand. There is definitely some driving that has to be done, but people can and do cut back on the amount of travel they take because of gas prices. Also, there are sometimes alternatives to that means of travel too.
  - dlikhten 15y ago
    Well, then let the prices be fair, they will enable other small businesses to rise up and make more efficient models. That is no real excuse, and these companies are making enough money. Ask yourself if the profits they make are not too much.
suking 15y ago
To be fair (and I didn't read the link above) - some of these low taxes may be due to losses from previous years. Not to say they aren't abusing international tax havens... but who wouldn't to save hundreds of millions?
- kgermino 15y ago
  Not sure about the others but that is the case for GE. They got reamed by the recession and are about done carrying their losses forward. It may be annoying and look really bad but I would rather have a company be taxed on their net earnings over several years than be punished for having fluctuating earnings. (Especially since start-ups tend to lose money for a few years before making profits)
sliverstorm 15y ago
I don't know if someone making $200,000,000 (she said she was specifically talking to those folks) is a hard working sucker, and I think they might well see social security and medicare. Though they probably won't care about it.
- chailatte 15y ago
  Quote: "I’ll just say, all of you people who are making over $200,000 a year, some of you making over $200,000,000 a year should just quit lying, quit being a dick and pay your taxes." Btw, $200k in california pays: 33% in federal tax 10% in state tax 7% in ss/medicare 9% in sales tax that's 60% in taxes (do they get any free higher education or healthcare? yeah I didn't think so). Not to mention the food/living cost is about 10X what it is in many countries in Asia. The only fools in California left are middle class wage earners.
  - deleted 15y ago
    [deleted]
  - encoderer 15y ago
    You, sir, are ignorant to how marginal tax rates work..
encoderer 15y ago
"who will never see a dime from social security" Anecdotal evidence suggests that 20 and 30 year-olds in 1940 were saying the same thing.
dantheman 15y ago
Do you support social engineering through the tax code? I don't, but most do. A lot of people want the government to encourage companies to invest in "green" energy etc. This is normally done through the use of tax incentives, then when the companies take up the governments offer everyone screams and yells that they aren't paying their fair share. It can be one way or the other, but we can't have both.

knowtheory 15y ago

And we should close tax loopholes and demand that corps pay their taxes. Something being held up by the Republican controlled Congress. Private jet tax breaks and all.

dotBen 15y ago
I agree. I totally agree that corporations need to be paying these taxes. Totally agree. But let's be clear what will happen. Their profits will immediately drop. They will put up prices in order to stem the decrease in profit. We will all pay a lot more for the same goods we used to pay less for. And not just when we buy directly from the very same corporations, but b2b companies will be forced to pass on the costs incurred by GE's price increases, etc.
- knowtheory 15y ago
  I'm not sure i agree, but i don't know that i'm qualified to speak on the subject. In the case of necessities w/ inelastic demand, maybe that's possible. But w/ products where there are viable alternatives, i don't agree that that's a necessary consequence. And even things like gas usage, there is flexibility in the demand. There is definitely some driving that has to be done, but people can and do cut back on the amount of travel they take because of gas prices. Also, there are sometimes alternatives to that means of travel too.
- dlikhten 15y ago
  Well, then let the prices be fair, they will enable other small businesses to rise up and make more efficient models. That is no real excuse, and these companies are making enough money. Ask yourself if the profits they make are not too much.

suking 15y ago

To be fair (and I didn't read the link above) - some of these low taxes may be due to losses from previous years. Not to say they aren't abusing international tax havens... but who wouldn't to save hundreds of millions?

kgermino 15y ago
Not sure about the others but that is the case for GE. They got reamed by the recession and are about done carrying their losses forward. It may be annoying and look really bad but I would rather have a company be taxed on their net earnings over several years than be punished for having fluctuating earnings. (Especially since start-ups tend to lose money for a few years before making profits)

sliverstorm 15y ago

I don't know if someone making $200,000,000 (she said she was specifically talking to those folks) is a hard working sucker, and I think they might well see social security and medicare. Though they probably won't care about it.

chailatte 15y ago
Quote: "I’ll just say, all of you people who are making over $200,000 a year, some of you making over $200,000,000 a year should just quit lying, quit being a dick and pay your taxes." Btw, $200k in california pays: 33% in federal tax 10% in state tax 7% in ss/medicare 9% in sales tax that's 60% in taxes (do they get any free higher education or healthcare? yeah I didn't think so). Not to mention the food/living cost is about 10X what it is in many countries in Asia. The only fools in California left are middle class wage earners.
- deleted 15y ago
  [deleted]
- encoderer 15y ago
  You, sir, are ignorant to how marginal tax rates work..

encoderer 15y ago

"who will never see a dime from social security" Anecdotal evidence suggests that 20 and 30 year-olds in 1940 were saying the same thing.

dantheman 15y ago

Do you support social engineering through the tax code? I don't, but most do. A lot of people want the government to encourage companies to invest in "green" energy etc. This is normally done through the use of tax incentives, then when the companies take up the governments offer everyone screams and yells that they aren't paying their fair share. It can be one way or the other, but we can't have both.