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15 Top Fortune 500 Corporations Paid No Taxes for 2011

Discussion in 'Current Events' started by Party Rooster, Apr 11, 2012.

  1. Party Rooster

    Party Rooster Unleash The Beast

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    Happy Tax Time!

     
  2. Neon

    Neon ネオン
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    Clearly the answer is to raise taxes for private citizens.
     
  3. Josh_R

    Josh_R Registered User

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    Fair Tax. No corporate income taxes, period. It would create shit tons of jobs, and all of the new workers would be paying the federal tax every time they bought a new product.
     
  4. Neon

    Neon ネオン
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    Yeah, that stat conveniently forgets to mention that every member of those corporations pays taxes as an individual. What they are getting out of here is corporate double taxation, and on top of that, they are doing it legally.
     
  5. Norm Stansfield

    Norm Stansfield 私は亀が好きだ。

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    Partycock, just out of curiosity: have you bothered reading the document you linked to? And if you have, have you then bothered googleing what that "accelerated depreciation" thing they keep mentioning is?

    And if you have, how come you didn't bother sharing your newfound knowledge with the class, by explaining why it is perfectly legitimate, and universally legal, to amortize the cost of an asset over a period of time, thus subtracting a fraction of its cost each year from the yearly accounting profits of a company?

    And that, given this legitimate practice (which subtracts the cost of actual purchases made by the company, early in its use rather than all the way through it - logical, right, why wouldn't you be allowed to do this?), the claim that these companies made 200+ billion in untaxed profits is A BIG FAT LIE? How come you don't mention that anywhere, buddy?

    It's a lie. That's all it is. There's nothing sophisticated or complex about it, it's just a lie. What they are saying is not true. These companies didn't pay taxes because they didn't have any profits. Those assets they are now paying for will eventually be profitable, and then they'll pay their taxes in full. But not right now. Which is not that weird. Out of 500 companies, some are gonna end up being not profitable in any given year.
     
  6. Norm Stansfield

    Norm Stansfield 私は亀が好きだ。

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    P.S. If you'd care for an example of what accelerated depreciation is, there's a wikipedia page that explains everything perfectly. I'll just post the crystal clear, simple example they give:

    So, what's the problem with this? They will pay taxes, but later on, when the assets they bought start paying off, in terms of profits.
     
  7. KRSOne

    KRSOne Registered User

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    Thats the plan. Why do you think Warren Buffet and the rest of the billionaire club asks for higher taxes? They know their taxes will not be raised, all the wealth will be transferred from the people to the ultra rich and liberals are begging government to take our money and give it to the banks and corporations. The commies have taken over.
     
  8. CousinDave

    CousinDave Registered User

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    corporations don't pay taxes

    they just collect taxes for the gov't
     
  9. whiskeyguy

    whiskeyguy PR representative for Drunk Whiskeyguy.

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    Ugh

    The government directs tax burden, not corporations.
     
  10. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    So these companies are pocketing the tax money that they should be collecting on behalf of the Government? "whaa"
     
  11. Party Rooster

    Party Rooster Unleash The Beast

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    This coming from the guy that just posts links to the Christian Science Monitor hoping we send them a few page clicks.
     

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