Corporate Taxation and Easy Marks

#1
utgibbs

utgibbs

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#1
Forget about the poor and middle class who pay no federal income tax. I've heard this ad infinitum on this board. Corporations (abstract "people" according to the law) are laughing all the way to the bailed-out banks. A short list of corporations who paid no federal tax:

Yahoo
GE
ExxonMobil
FedEX
Honeywell
IBM
Dupont
United Tech

Just to name a few, and I mean it, just to name a few.

This is why all of the smoke and mirrors of "debt reduction," "austerity," and the rest make suckers out of a lot of people here. The corporate con men have you by the short and curlies, but more importantly, they are in your head too.

I'll get in before "if we tax them they'll raise prices!" :eek:lol:

And this is why you are such easy marks (Marx?): y'all don't even know bourgeois economics.
 
#2
#2
let's nationalize them all.

It's working for Venezuela and Zimbabwe is a worker's paradise.
 
#3
#3
The continued point of corporations as people is entertaining.

For a guy that couldn't pick a K or Q from a lineup, it's a bit stupid to talk about individual company tax returns.

As to the absurdity about the poor and middle class paying their share, surely OP isn't leaning on something other than federal income taxes to make a this pointless post.
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#4
#4
BigPapaVol said:
The continued point of corporations as people is entertaining.

For a guy that couldn't pick a K or Q from a lineup, it's a bit stupid to talk about individual company tax returns.

As to the absurdity about the poor and middle class paying their share, surely OP isn't leaning on something other than federal income taxes to make a this pointless post.
Posted via VolNation Mobile
Click to expand...

As always, BPV, entertainingly wrong in your valiant attempts at obfuscation:

Corporate personhood - Wikipedia, the free encyclopedia
 
#6
#6
MG1968 said:
let's nationalize them all.

It's working for Venezuela and Zimbabwe is a worker's paradise.
Click to expand...

Yes, the US is a "worker's paradise:"

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wisc-walker-0312-art-gnjbuev8-1wisconsin-budget-jpeg-00a6a-large-jpg-large.jpg
 
#10
#10
Without doing any searching, my guess is each and every one of these companies paid at least some AMT last year but have massive deferred tax assets on their financials.
 
#11
#11
tigervol9802 said:
Without doing any searching, my guess is each and every one of these companies paid at least some AMT last year but have massive deferred tax assets on their financials.
Click to expand...
Waste of air to discuss actual financials.
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#13
#13
Fedex Q4 2011 earnings call transcript

Our effective tax rate for FY '11 was 35.9% compared to 37.5% in FY '10.
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While this level of capital spending will be higher than the 6% to 8% of revenue that we think is sustainable to meet our long-term growth goals, we are taking advantage of the Tax Relief Act to invest in our networks, to extend our competitive advantage and drive better margins, cash flows and return to long term.
Click to expand...

President, chairman and CEO Frederick W. Smith says the company will invest in upgrades in Asia, Europe and health-care sectors and elsewhere as it takes advantage of accelerated depreciation in the Tax Relief Act of 2010.
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The company spent $3.4 billion last year and is ramping that up to cover more aircraft, notably Boeing 777 freighters, and investments in facilities, vehicles and IT.
Click to expand...

Please excuse FedEx from your list because they are taking advantage of the Tax Relief Act of 2010 (which your boy signed into law) to buy US built planes, increase energy efficiency in their buildings, and expand their fleet of hybrid vehicles
 
#14
#14
therealUT said:
Corporations should pay absolutely no taxes.
Click to expand...

In the Philippines they have no corporate income tax for the first 5 years of existence. It's weird how this policy is transforming their economy. I'm glad intelligent government planners like utgibbs aren't there to tell them that this is a mistake.
 
#15
#15
VolsNSkinsFan said:
Fedex Q4 2011 earnings call transcript









Please excuse FedEx from your list because they are taking advantage of the Tax Relief Act of 2010 (which your boy signed into law) to buy US built planes, increase energy efficiency in their buildings, and expand their fleet of hybrid vehicles
Click to expand...

I believe that calls for a "GSM"?
 
#17
#17
utgibbs said:
Forget about the poor and middle class who pay no federal income tax. I've heard this ad infinitum on this board. Corporations (abstract "people" according to the law) are laughing all the way to the bailed-out banks. A short list of corporations who paid no federal tax:

Yahoo
GE
ExxonMobil
FedEX
Honeywell
IBM
Dupont
United Tech

Just to name a few, and I mean it, just to name a few.

This is why all of the smoke and mirrors of "debt reduction," "austerity," and the rest make suckers out of a lot of people here. The corporate con men have you by the short and curlies, but more importantly, they are in your head too.

I'll get in before "if we tax them they'll raise prices!" :eek:lol:

And this is why you are such easy marks (Marx?): y'all don't even know bourgeois economics.
Click to expand...

Yeah... so let's follow your path and centralize power more so we get even more of this kind of cronyism.

Centralized power will ALWAYS attract those willing to pay for access to it. Because of the power folks like you have voted to give to Congress... they can write in specialized caveats to tax laws so that these big donors pay nothing. When the forces of market economics would otherwise punish them for being inefficient and bureaucratic... big gov't comes to the rescue with regulations that create entry barriers to their business and bail outs.

This is the perfectly natural and predictable outcome of what you advocate... and you suggest others are ignorant and blind... it is to laugh.
 
#18
#18
The best solution is something akin to the FAIR Tax where we tax activity/transactions and not "persons". It is also favorable to tax consumption and not savings or production.

Then again... our tax code which is the product of Progressives over the last 100 years is not really designed to optimize revenue. It is designed with the hopes of keeping Progressives in power and enabling them to engineer our society... read "control".
 
#19
#19
#20
#20
sjt18 said:
The best solution is something akin to the FAIR Tax where we tax activity/transactions and not "persons". It is also favorable to tax consumption and not savings or production.

Then again... our tax code which is the product of Progressives over the last 100 years is not really designed to optimize revenue. It is designed with the hopes of keeping Progressives in power and enabling them to engineer our society... read "control".
Click to expand...

When I read about the tax dodge of fictitious "people" - I almost warm to the Fair Tax (sic) regressive tax code.
 
#21
#21
utgibbs said:
and whereas I agree making corporations a legal person with all the rights and privileges of real people (more, actually) is ridiculous, it is, nevertheless, the law of the land.
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absurd

at least your track record is consistency
 
#22
#22
utgibbs said:
When I read about the tax dodge of fictitious "people" - I almost warm to the Fair Tax (sic) regressive tax code.
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completely agree. harry potter and scrooge mcduck should not get away with not paying taxes. hmmm mcduck is a duck. what is your stance on the tax dodge of fictitious ducks? doesn't seem fair to gordon gekko, now does it, for scrooge to not pay his fair share?
 
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#24
#24
utgibbs said:
Although I know the US Supreme Court makes ridiculous points like:

Dred Scott v. Sandford - Wikipedia, the free encyclopedia

and whereas I agree making corporations a legal person with all the rights and privileges of real people is ridiculous, it is, nevertheless, the law of the land.
Click to expand...

Why is that ridiculous? A corporation is simply an entity made up of people. When you are taxing a corporation you are actually taxing people. Why should a group of people have less rights than an individual? Calling it "corporate taxes" takes the humanity out of it. If we call it what it is, "taxing people" it changes things.
 
#25
#25
nbakerld said:
Why is that ridiculous? A corporation is simply an entity made up of people. When you are taxing a corporation you are actually taxing people. Why should a group of people have less rights than an individual? Calling it "corporate taxes" takes the humanity out of it. If we call it what it is, "taxing people twice" it changes things.
Click to expand...

fyp
 
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