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[ElNono]

BTW, this is just another year...

http://abcnews.go.com/Business/Tax/g...ry?id=10300167

[admiralsnackbar]

GE pays income taxes. They're just paying them to foreign governments who have lower corporate income tax rates.

If you want companies like GE to start paying their income taxes in America, you need to lower America's corporate income tax rate.

Oh c'mon, CG -- that's nonsense. What you're proposing is forcing a developed superpower (with its attendant overhead) to match or beat the tax rates of tiny third-world Caribbean nations in order to collect revenue.

The only differences between that arrangement and the bailouts are that the government never even touches the money before giving it away, and that the give-aways aren't one-time jackpots, but in perpetuum allowances.

I understand megacorporations wield a lot of leverage over the government as economic furnaces, but at what point does that leverage simply become outright control?

[boutons_deux]

There are conventions between countries to avoid double taxation.

Just another VRWC LIE: US corp tax rate is too high, making US corps uncompe ive.


Just another VRWC LIE: Cutting corp taxes and killing the minimum wage creates jobs.

If the VRWC's lips are moving, they're lying.

[coyotes_geek]

Oh c'mon, CG -- that's nonsense. What you're proposing is forcing a developed superpower (with its attendant overhead) to match or beat the tax rates of tiny third-world Caribbean nations in order to collect revenue.

What I'm proposing is that we accept the reality that a high corporate income tax rate serves no purpose. Those who can avoid it are avoiding it. Those who can't avoid it are merely passing those costs along to consumers.

[MannyIsGod]

What I'm proposing is that we accept the reality that a high corporate income tax rate serves no purpose. Those who can avoid it are avoiding it. Those who can't avoid it are merely passing those costs along to consumers.

Neither of those things has anything to do with the level of income tax crops face. IE, you could say the exact same thing about a low income tax rate. We're still going to have the cost passed on as consumers and corps will still avoid it if possible.

[ManuBalboa]

GE's close partnership with this administration has been no secret. Now you understand the true meaning behind GE going GREEN. Idiots.

[coyotes_geek]

Neither of those things has anything to do with the level of income tax crops face. IE, you could say the exact same thing about a low income tax rate. We're still going to have the cost passed on as consumers and corps will still avoid it if possible.

Sure, taxes would still be passed along and corps would continue looking for the better deal. With a lower tax rate the costs being passed along would be lower and the better deal would be harder to find. I'm okay with that situation.

[ElNono]

Sure, taxes would still be passed along and corps would continue looking for the better deal. With a lower tax rate the costs being passed along would be lower and the better deal would be harder to find. I'm okay with that situation.

How so?

[LnGrrrR]

Is it really taxes alone pushing businesses overseas? No mention of cheaper labor?

[SnakeBoy]

This is an outrage. The only way it will get fixed is if the American people put a Democrat in the White House and give him Democratic super majorities in both houses.

[MannyIsGod]

Is it really taxes alone pushing businesses overseas? No mention of cheaper labor?

Labor on Barbados (random Caribbean nation as an example) isn't really a reason of why corporations headquarter themselves there.

[MannyIsGod]

Sure, taxes would still be passed along and corps would continue looking for the better deal. With a lower tax rate the costs being passed along would be lower and the better deal would be harder to find. I'm okay with that situation.

I'm not too sure about that one bit.

[ElNono]

This is an outrage. The only way it will get fixed is if the American people put a Democrat in the White House and give him Democratic super majorities in both houses.

I detect the sarcasm. But, you don't think this is outrageous?

[admiralsnackbar]

What I'm proposing is that we accept the reality that a high corporate income tax rate serves no purpose. Those who can avoid it are avoiding it. Those who can't avoid it are merely passing those costs along to consumers.

So what of GE, which avoids taxes, banks in the private sector, uses its size and our money to insure itself on risky bets, employs non-unionized labor exclusively (mostly abroad, of course -- cheaper), and gets obscene government subsidies? I mean , man... is it even possible to have more control over one's assets?

Naturally, all that cash inevitably leads to more growth, and all that growth inevitably leads to more political leverage, and all that political leverage leads to more cash...ad nauseam. How can anybody compete with that, be it a smaller business or, ultimately, a government?

I guess I'm just curious, then: are you cool with letting mega-corporations maintain this sort of unchecked growth -- even as it becomes progressively more parasitic and anti-compe ive? Or is your position more about dispassionately accepting the futility of government regulation/tax enforcement? (...actually don't know why I make the distinction, come to think of it -- it's the same position).

Anyway, not trying to put words in your mouth as much as trying to ask where your buck stops? If you can accept that the GEs won't pay taxes because they don't want to, and you can accept that they are actually taxing you via gov subsidies squeezed out by political leverage, and you can accept that they can now pimp politicians to you (post Citizens United) to increase their power...at what point do you say " this?"

[coyotes_geek]

How so?

The fewer the countries with a lower corporate tax rate than the U.S., the fewer the number of places where corporations can get tax treatment friendlier than in the U.S.

[Stringer_Bell]

Silly liberals are outraged over a company not paying taxes when they should be outraged over the government wasting money it doesn't have on programs that don't stimulate the citizenry or the economy.

Maybe if Americans were more thoughtful, vigilant workers they wouldn't be losing their jobs to the Taiwanese and Guatemalans. lol Americans

[boutons_deux]

After Paying Zero Income Taxes, GE Plans To Ask Its Union Workers To Make Wage And Benefits Concessions

http://thinkprogress.org/2011/03/28/...-workers-cuts/

[ElNono]

The fewer the countries with a lower corporate tax rate than the U.S., the fewer the number of places where corporations can get tax treatment friendlier than in the U.S.

It doesn't get any friendlier than a negative tax rate, at least for companies like GE.

Do you think a 1% tax rate is too high? How about 0%?
Why would GE stop doing what it's doing given tax rates like that?

The problem is not the rate, it's the loopholes and the seemingly lack of enforcement of tax laws due to their leverage/greasing of palms.

Silly liberals are outraged over a company not paying taxes when they should be outraged over the government wasting money it doesn't have on programs that don't stimulate the citizenry or the economy.

Maybe if Americans were more thoughtful, vigilant workers they wouldn't be losing their jobs to the Taiwanese and Guatemalans. lol Americans

The outrage is partially shared with the government. There's two sides to this story, the company being a bad citizen and the government that enables it to do so.

[boutons_deux]

"don't stimulate the citizenry or the economy."

you mean you Repugs bull , bogus wars and the MIC, subsidies/taxcuts for oil/gas/coal cos, ,etc, etc?

The current historially high deficit is not an accident or Act of God. It's the intentional result of VRWC policies.

[boutons_deux]

Bank Of America Paid Nothing In Federal Income Taxes Last Year And Got Almost $1 Billion From Taxpayers

Bank Of America Paid Nothing In Federal Income Taxes Last Year And Got Almost $1 Billion From Taxpayers

[coyotes_geek]

So what of GE, which avoids taxes, banks in the private sector, uses its size and our money to insure itself on risky bets, employs non-unionized labor exclusively (mostly abroad, of course -- cheaper), and gets obscene government subsidies? I mean , man... is it even possible to have more control over one's assets?

Naturally, all that cash inevitably leads to more growth, and all that growth inevitably leads to more political leverage, and all that political leverage leads to more cash...ad nauseam. How can anybody compete with that, be it a smaller business or, ultimately, a government?

I guess I'm just curious, then: are you cool with letting mega-corporations maintain this sort of unchecked growth -- even as it becomes progressively more parasitic and anti-compe ive? Or is your position more about dispassionately accepting the futility of government regulation/tax enforcement? (...actually don't know why I make the distinction, come to think of it -- it's the same position).

Anyway, not trying to put words in your mouth as much as trying to ask where your buck stops? If you can accept that the GEs won't pay taxes because they don't want to, and you can accept that they are actually taxing you via gov subsidies squeezed out by political leverage, and you can accept that they can now pimp politicians to you (post Citizens United) to increase their power...at what point do you say " this?"

My only point here is that I think the 35% U.S. corporate income tax rate is counterproductive and that it would be beneficial to all of us if that rate were lowered significantly.

But since you brought up other issues I'll say that I'm against bailouts and subsidies. I also believe the government does have a role in ensuring a compe ive marketplace. As an example, I've repeatedly stated that I think the government should use anti-trust legislation to break up the mega banks.

It doesn't get any friendlier than a negative tax rate, at least for companies like GE.

Do you think a 1% tax rate is too high? How about 0%?
Why would GE stop doing what it's doing given tax rates like that?

The problem is not the rate, it's the loopholes and the seemingly lack of enforcement of tax laws due to their leverage/greasing of palms.

GE doesn't have a negative tax rate. They have a 35% tax rate on $0 worth of taxable earnings. Lower that tax rate and they've got less incentive to find ways to reduce their taxable earnings. The money they park overseas is getting taxed overseas, why not lower the tax rate so that they'll be motivated to let that money get taxed here?

[boutons_deux]

"The money they park overseas is getting taxed overseas"

Not necessarily.

They probably tell, or bribe, the foreign tax officials, that they are going to repatriate the profits to America and pay taxes there, avoiding foreign taxes.

[SnakeBoy]

I detect the sarcasm. But, you don't think this is outrageous?

I don't find it any more outrageous than than 40% or so of americans who don't pay any taxes. It's the entire tax code that I find outrageous.

[Winehole23]

http://www.cjr.org/the_audit/ge_flub...nyt.php?page=1