Re: 'Occupy' types
 

[quote=Chico23231;855183][URL="http://finance.yahoo.com/news/Biggest-Public-Firms-Paid-nytimes-969088864.html?x=0&.v=1"]Biggest Public Firms Paid Little U.S. Tax, Study Says - Yahoo! Finance[/URL]

Any opinion on these FACTS. I have to emphasize facts in this thread. Little to none seem to be found other than NCSkins is an aggressive a$$hole. Just playin NC[/quote]

The problem with articles like that they give numbers and not many facts. They say that 280 of the biggest Corporations paid lower taxes but how many Corps did they actually review and how many paid more. Also how many cut their tax rates by doing things like Boeing did by hiring 9000 American workers (that's why I'm for taxs breaks for corps that hire because its more effective then just trying to dump 700 billion into creating jobs).

"Boeing officials said they, too, had paid some federal taxes, but would not say how much. They said they had lowered their rate by taking advantage of tax breaks intended to encourage hiring. Chaz Bickers, a company spokesman, said Boeing hired 9,000 American workers this year"

I don't have a problem making corps pay their far share and I don't have a problem hitting corps who move their office over seas to avoid paying taxes. I personally don't even understand how corps are taxed. I know they pay payroll taxes, and other taxes on purchases and stuff but if the corp passes the profits over to the stock holders what is left to tax? I've tried to look it up but never found anything that explains how they are taxed. I do understand how S corps are taxed because I am an S corp.

Re: 'Occupy' types
 

[quote=mlmpetert;855181]Apparently Milk is starting to get pissed too:

[IMG]http://www.verumserum.com/media/2011/10/I-am-the-2-percent-500x666.jpg[/IMG]

[/quote]

The capri sun is really bothering me here. unless it was a roommate who did it to piss off his other roommate. then its pretty funny. their fridge is pretty cool.

Re: 'Occupy' types
 

[quote=Chico23231;855183][url=http://finance.yahoo.com/news/Biggest-Public-Firms-Paid-nytimes-969088864.html?x=0&.v=1]Biggest Public Firms Paid Little U.S. Tax, Study Says - Yahoo! Finance[/url]

Any opinion on these FACTS. I have to emphasize facts in this thread. Little to none seem to be found other than NCSkins is an aggressive a$$hole. Just playin NC[/quote]

Good article. Several of the 280 corporations referenced appeared to have legitimate reasons for paying less taxes - deferred taxes to be paid in the future or significant business losses resulting in write-offs. At the same time, it is clear that the for ~ 25% of the corporations studied, the US's 35% corporate tax rate is just an illusion.

Obviously, through the elimination of inappropriate shelters/loopholes, the "real" corporate tax rate needs to be brought in line with that of other western nations. At the same time, the US rate of 35% is higher than any other comprable nation so part of any reform would require a lowering of the 35% rate across the board so that companies currently complying (again, about 25% per the article) would not be competitively penalized.

As with most things economic, the problem and/or solution can rarely be fully elicited in a blurb headline - hey, people need to get to the "grit of the story". [In so asserting, and as you, Chico, voiced no opinion on the matter, I am in no way asserting that you, Chico, are unable to do so - I do, however, w/hold judgment on NC_Skins' ability to do so - - ;)].

Re: 'Occupy' types
 

[quote=firstdown;855189]The problem with articles like that they give numbers and not many facts. [B]They say that 280 of the biggest Corporations paid lower taxes but how many Corps did they actually review and how many paid more.[/B] Also how many cut their tax rates by doing things like Boeing did by hiring 9000 American workers (that's why I'm for taxs breaks for corps that hire because its more effective then just trying to dump 700 billion into creating jobs).

"Boeing officials said they, too, had paid some federal taxes, but would not say how much. They said they had lowered their rate by taking advantage of tax breaks intended to encourage hiring. Chaz Bickers, a company spokesman, said Boeing hired 9,000 American workers this year"

I don't have a problem making corps pay their far share and I don't have a problem hitting corps who move their office over seas to avoid paying taxes. I personally don't even understand how corps are taxed. I know they pay payroll taxes, and other taxes on purchases and stuff but if the corp passes the profits over to the stock holders what is left to tax? I've tried to look it up but never found anything that explains how they are taxed. I do understand how S corps are taxed because I am an S corp.[/quote]

Although I see where your confusion comes from about how many companies were studied - the opening line of the article lumps all 280 companies as failing to meet the 35% rate.

Here is the actual study and makes it clear that the study was of 280 companies - some of which paid the full 35% and some of which did not (I think the 18.5% was apparently an average of all the companies): [url]http://www.ctj.org/corporatetaxdodgers/CorporateTaxDodgersReport.pdf[/url]

Re: 'Occupy' types
 

Okay, so here is where I am on the whole "Corporations Bad" thing:

1. Corporation's legal "personhood" needs to be re-examined. The US Code needs to be modiifed to differentiate between the practical need for corporations to have the ability to act as a "person" in the business world and the fact that doing so should not neccessarily entitle these companies to certain Constitutional rights which were intended to attach to the person (assembly, speech, search & seizure restrictions). Further, in light of the SCOTUS' rulings on this issue, a carefully crafted Constitutional Amendment is needed that sets forth the rights of "artificial persons". Not sure [I]exactly[/I] how this should look - but I'll get right on it and have something we, The Warpath, can submit to our various representatives. Is next Friday good for everyone?

2. The US corporate tax law needs serious revision. Corporations should be paying taxes in line with other countries that offer the same comparitive economic security as the US ([I]i.e.[/I] there is a benefit to doing business in the stable political/economic climate of a Germany, US or Britain as opposed to Mexico, Columbia or Angola). Based on the study Chico referenced, it would appear that this would require closing certain loopholes and shelters while, at the same time, lowering the statutory rate to one comprable to other western nations. Any volunteers to draft a revised corporate tax code for us? Anyone? Anyone? How about a committee of SS33, Lotus and NC_Skins? Get back to us with your result by next Friday please.

3. Executive pay: Somehow this needs to be addressed. The fact that, for many corporations, executive compensation is divorced from the success or failure of a company (i.e. the "Moral Hazard" mlpertert referenced earlier in the thread - I think it was mlpertert). Not sure, this is a tricky one for a lot of reasons. I suggest a working group of Smootsmack, Chico, saden1 and mlpertert analyze the problems and come up with possible proposals and come back to the group with a working solution by next Friday.

Firstdown, your job is just to keep bitching about the vagrants and hippies in Zuccotti Park.

Thanks everyone for playing. Let's work the problem boys. I want the Occupy Warpath Movement up and running by Thanksgiving.

Re: 'Occupy' types
 

[quote=JoeRedskin;855200]Okay, so here is where I am on the whole "Corporations Bad" thing:

1. Corporation's legal "personhood" needs to be re-examined. The US Code needs to be modiifed to differentiate between the practical need for corporations to have the ability to act as a "person" in the business world and the fact that doing so should not neccessarily entitle these companies to certain Constitutional rights which were intended to attach to the person (assembly, speech, search & seizure restrictions). Further, in light of the SCOTUS' rulings on this issue, a carefully crafted Constitutional Amendment is needed that sets forth the rights of "artificial persons". Not sure [I]exactly[/I] how this should look - but I'll get right on it and have something we, The Warpath, can submit to our various representatives. Is next Friday good for everyone?

2. The US corporate tax law needs serious revision. Corporations should be paying taxes in line with other countries that offer the same comparitive economic security as the US ([I]i.e.[/I] there is a benefit to doing business in the stable political/economic climate of a Germany, US or Britain as opposed to Mexico, Columbia or Angola). Based on the study Chico referenced, it would appear that this would require closing certain loopholes and shelters while, at the same time, lowering the statutory rate to one comprable to other western nations. Any volunteers to draft a revised corporate tax code for us? Anyone? Anyone? How about a committee of SS33, Lotus and NC_Skins? Get back to us with your result by next Friday please.

3. Executive pay: Somehow this needs to be addressed. The fact that, for many corporations, executive compensation is divorced from the success or failure of a company (i.e. the "Moral Hazard" mlpertert referenced earlier in the thread - I think it was mlpertert). Not sure, this is a tricky one for a lot of reasons. I suggest a working group of Smootsmack, Chico, saden1 and mlpertert analyze the problems and come up with possible proposals and come back to the group with a working solution by next Friday.

Firstdown, your job is just to keep bitching about the vagrants and hippies in Zuccotti Park.

Thanks everyone for playing. Let's work the problem boys. I want the Occupy Warpath Movement up and running by Thanksgiving.[/quote]

As to problem #3-mlmpetert has rented a van with Chico will drive. saden will operate the megaphone and I've secured us space in front of Fantasyland in Disney World. Problem Solved!

Re: 'Occupy' types
 

[quote=SmootSmack;855204]As to problem #3-mlmpetert has rented a van with Chico will drive. saden will operate the megaphone and I've secured us space in front of Fantasyland in Disney World. Problem Solved![/quote]

Excellent! See, this is what I am talking about folks - workable solutions to concrete issues!

Re: 'Occupy' types
 

"Firstdown, your job is just to keep bitching about the vagrants and hippies in Zuccotti Park."

LOL, well we need FD also to keep the rape stats associated with the movement. Thats been my favorite part of this thread, rape stats.

Re: 'Occupy' types
 

Allright guys im in. Ive secured the van:

[IMG]http://farm7.static.flickr.com/6036/6228349875_ba5eebc143.jpg[/IMG]

Re: 'Occupy' types
 

[quote=Chico23231;855208]"Firstdown, your job is just to keep bitching about the vagrants and hippies in Zuccotti Park."

LOL, well we need FD also to keep the rape stats associated with the movement. Thats been my favorite part of this thread, rape stats.[/quote]


Im the one that has been keeping up with rape stats!!!! I guess i can put my spreadsheet on the cloud so someone else can keep it updated while im out planting freedom seeds across America in the Liberty Van with SS, Chico and Saden1.

Also it looks like FD has joined the movement:

[IMG]http://3.bp.blogspot.com/-pYQ3CeBM6Tg/ToJabVa-kcI/AAAAAAAAAcQ/5dwMepEj5_c/s400/Travel+Mouse+Occupy+Wall+Street+Funny+Sign+Liberty+Plaza+Park.JPG[/IMG]

Re: 'Occupy' types
 

[quote=JoeRedskin;855187]By the way, just for clarification, in the post referenced above, which was the manner you intended: Were implying you’re smarter than everyone else b/c they can’t see beyond the bullshit or just smarter than SS33?[/quote]


No. I'm saying if you run across a slanted (whether right or left) type of article that pertains good information, one needs to weed out the finger pointing. Notice I didn't say anything about the Republicans being at fault. I posted it to show that "hey, this is personal" in regards to the OWS movement.

It has nothing to do with who's smarter. It's quite evident that SS33 is still stuck in the Repubs vs. Dems mode, which is why he responded the way he did (also on all things I post that in some way paint the Repubs in a bad light). I'm here to shit on all politicians equally, not just the Republicans. I think I've been quite fair with the bashing. All one has to do is check out my bashing of Obama to see this. So don't call me out on bashing Republicans when I in fact bash Democraps. One politician I am partial to is Ron Paul (REPUBLICAN), it's just unfortunate he's also a religious nut. :cheeky-sm

Re: 'Occupy' types
 

[url=http://www.cbsnews.com/8301-201_162-20129155/study-many-fortune-500-cos-paid-$0-taxes/]Study: Many Fortune 500 cos. paid $0 taxes - CBS News[/url]

[QUOTE](CBS News)

Advocates for reducing U.S. corporate tax rates argue that lower corporate rates charged in other countries impede American competitiveness. Yet a new study finds that many of the nation's top companies are already paying less in U.S. taxes on their pretax profits than they do overseas.

In a study comprising more than half of the Fortune 500 list of the largest U.S. corporations, a quarter of those examined paid little or nothing in federal income taxes during the 2008-2010 period, despite registering profits in all three years.

Of those 280 companies, 78 corporations had at least one year during which their U.S. federal tax was zero or less, and many had more than one year paying no tax, despite recording profits; many of these companies also received tax rebates. In 2009 alone, 49 companies earned combined profits of $78.6 billion, yet paid no taxes - and collected tax rebates totaling $10.8 billion. [/QUOTE]


Smoke and mirrors. It would be interesting to find out what those companies campaign contributions were to our politicians.

Re: 'Occupy' types
 

[quote=JoeRedskin;855200]2. The US corporate tax law needs serious revision. Corporations should be paying taxes in line with other countries that offer the same comparitive economic security as the US ([I]i.e.[/I] there is a benefit to doing business in the stable political/economic climate of a Germany, US or Britain as opposed to Mexico, Columbia or Angola). Based on the study Chico referenced, it would appear that this would require closing certain loopholes and shelters while, at the same time, lowering the statutory rate to one comprable to other western nations. Any volunteers to draft a revised corporate tax code for us? Anyone? Anyone? How about a committee of SS33, Lotus and NC_Skins? Get back to us with your result by next Friday please.[/quote]



1) Close any and all corporate tax hole loops.

2) Give tax breaks to companies that create jobs and maintain them.

3) Impose huge tax penalties for any American Corp with jobs overseas, who's products are shipped to the US. (make it high enough to where it's less costly to have the plant here)

4) Give tax breaks to companies for providing health care benefits.

5) Give tax breaks to companies that reinvest money back into the company. (employee raises(not CEO), additions/buildings added) -removed research and development. **** Pharmaceutical companies.


I'll come up with more later when I can research what the numbers are across the world.

Re: 'Occupy' types
 

[quote=mlmpetert;855216]Allright guys im in. Ive secured the van:

[IMG]http://farm7.static.flickr.com/6036/6228349875_ba5eebc143.jpg[/IMG][/quote]

That van is crying to have a little weed smoke in it.

Re: 'Occupy' types
 

[quote=NC_Skins;855226]1) Close any and all corporate tax hole loops.

2) Give tax breaks to companies that create jobs and maintain them.

3) Impose huge tax penalties for any American Corp with jobs overseas, who's products are shipped to the US. (make it high enough to where it's less costly to have the plant here)

4) Give tax breaks to companies for providing health care benefits.

5) Give tax breaks to companies that reinvest money back into the company. (employee raises(not CEO), additions/buildings added, research and development)

I'll come up with more later when I can research what the numbers are across the world.[/quote]

You say we should close corporate loop holes. Then you propose new ones.

I say close corporate tax loopholes, period.