Big Business Tax Rate: 18.5%

Big Business Tax Rate: 18.5 Percent
You often hear people argue that the United States’ corporate tax rate of 35 percent is much higher than other nations, but don’t be fooled. Thanks to loopholes, the actual tax rate is much lower—about 18.5 percent according to a survey of the 280 largest publicly traded companies by the left-leaning Citizens for Tax Justice. About a quarter of the companies paid less than 10 percent in taxes over the past three years, while 30 companies—including Boeing, Wells Fargo, and GE—appeared to pay no taxes whatsoever. Some companies have disputed the study, saying it fails to account for deferred taxes.

The article will appear shortly. :)

Unfortunately, that's the system. Just like income tax. There's the rate, then there are the deductions (i.e. loopholes which has a much more sinister and negative connotation). I believe your opposition party is talking about reducing these deductions.

There is so much to do about nothing. All this "super committee" needs is a pro forma income statement then simply adjust revenue (via deductions or rates) and expenses to come up with 5, 10 or 20% savings (that doesn't effect ME).

Im all for a system that is fair and doesnt entice politicians to use statistics to lie about the facts.
The best system would be a clear rate with few if any deductions. Dont know if special interests will
ever allow this to happen.

S&L, Im sure you are as OUTRAGED AND UPSET about this as you are about those low income folkswho dont pay federal income tax? lol

I dont know why you have not brought this to all our attention before??? :)

Quote:

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Originally Posted by Havakasha

Im all for a system that is fair and doesnt entice politicians to use statistics to lie about the facts.
The best system would be a clear rate with few if any deductions. Dont know if special interests will
ever allow this to happen.

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Sounds like a flat tax.

S&L I'm sure you are as OUTRAGED AND UPSET about this as you were about those low income folks who dont pay federal income tax?
I dont know why you have not brought this to all our attention before?
I just cant imagine why that could be? Double standard maybe? Nah. lol

Not flat tax. Talking about business tax rate.
Are you in favor of Flat tax on personal income?

Wrong. You may recall that I posted about GE and their taxes when it first broke, and you accused me of democrat bashing because Immelt is a democrat. It's there if you want to look.

As for the low income earners who don't pay income taxes, you may also recall that I suggested even exempting them payroll income tax. Let them take it all home. You were going to REEEEEEEEEEE search it after you accused me of lifting the idea.

Lets be honest, you only posted about GE because Immelt was working with Obama. Other than that you published nothing like what I published today. Sorry but its clearly a double standard very similar to how you approached the subject of climate change, alternative energy, Peter Schiff, etc. etc.
Your passion for corporate tax evasion is how should i say.... LACKING the strength of your other passions. Lmfao.

Yes you suggested that maybe it was understandable that they couldnt pay federal income tax, but then you questioned why you had said that. Then you continued on and on about those Repulican talking points about %'s of people that dont pay federal income tax. You just cant hide your natural biases. So dont try.

Do you support a flat tax for personal income?

Quote:

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Originally Posted by Havakasha

Do you support a flat tax for personal income?

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A progressive flat tax with higher earners paying a little more. No returns. Wipe out that whole segment of employment. Reduce or eliminate a $hitload of government. Make it really simple, but effective.