Here who's winning under Trump Tax Law

reagansghost said:
meanwhile right wing suckers who actually pay their taxes get $100 bucks, the uber wealthy get truckloads of cash.....ok morons assume the position here comes daddy

The following is a list of the country’s largest publicly-held profitable corporations that paid no federal income taxes in 2018 on billions in U.S. income, according to ITEP analysis of 560 companies. ITEP reports U.S. income before federal taxes, and takes into consideration paid state and local taxes, which could reduce or increase U.S. income. The report does not look at total tax provision, a number that could include foreign taxes and deferred taxes. All figures, except for tax rate, are in millions.

Company U.S. Income Federal Tax Effective Tax Rate

Amazon.com $10,835 –129 –1%
Delta Air Lines $5,073 –187 –4%
Chevron $4,547 –181 –4%
General Motors $4,320 –104 –2%
EOG Resources $4,067 –304 –7%
Occidental Petroleum $3,379 –23 –1%
Honeywell International $2,830 –21 –1%
Deere $2,152 –268 –12%
American Electric Power $1,943 –32 –2%
Principal Financial $1,641 –49 –3%
FirstEnergy $1,495 –16 –1%
Prudential Financial $1,440 –346 –24%
Xcel Energy $1,434 –34 –2%
Devon Energy $1,297 –14 –1%
DTE Energy $1,215 –17 –1%
Halliburton $1,082 –19 –2%
Netflix $856 –22 –3%
Whirlpool $717 –70 –10%
Eli Lilly $598 –54 –9%
IBM $500 –342 –68%
Goodyear Tire & Rubber $440 –15 –3%
Penske Automotive Group $393 –16 –4%
Aramark $315 –48 –15%
AECOM Technology $238 –122 –51%
Tech Data $203 –10 –5%
Performance Food Group $192 –9 –4%
Arrow Electronics $167 –12 –7%

Source: Institute on Taxation and Economic Policy

The controversial Tax Cuts and Jobs Act, signed by President Donald Trump in December 2017, lowered the corporate tax rate to 21 percent from 35 percent, among other cuts. That’s partly to blame for giving corporations an easier way out of paying taxes, said Matthew Gardner, an ITEP senior fellow and lead author of the report. The new corporate tax rate “lowers the bar for the amount of tax avoidance it takes to get you down to zero,” he said.

“The specter of big corporations avoiding all income taxes on billions in profits sends a strong and corrosive signal to Americans: that the tax system is stacked against them, in favor of corporations and the wealthiest Americans,” Gardner wrote in the report.
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The best thing would be to raise the corporate rate so all these companies go overseas and no one is working.

Instead of blaming Trump why not the tax laws that have been in place for years, tax laws that both individuals and corporations take advantage of, including you.
 
Tkaffen said:
Let’s see 10% of 1,000 is 100 and 10% of one million is 100,000.
Makes sense the millionaire gets more back.
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Except that the "average" tax payer doesn't "get" $100. That's the "least" amount of reduction in the tax burden, not the average.

From the OP: "The vast majority of American tax filers -- more than 65% -- will see their overall tax burden decrease by at least $100."

Mason is either lying about what the report says or is too stupid to comprehend what it means. There is no "average" cited in the OP.

Like a whining child waiting for mommy to hand out candy, he seems to think everyone should get the same tax reduction regardless of their circumstances.
 
reagansghost said:
meanwhile right wing suckers who actually pay their taxes get $100 bucks, the uber wealthy get truckloads of cash.....ok morons assume the position here comes daddy

The following is a list of the country’s largest publicly-held profitable corporations that paid no federal income taxes in 2018 on billions in U.S. income, according to ITEP analysis of 560 companies. ITEP reports U.S. income before federal taxes, and takes into consideration paid state and local taxes, which could reduce or increase U.S. income. The report does not look at total tax provision, a number that could include foreign taxes and deferred taxes. All figures, except for tax rate, are in millions.

Company U.S. Income Federal Tax Effective Tax Rate

Amazon.com $10,835 –129 –1%
Delta Air Lines $5,073 –187 –4%
Chevron $4,547 –181 –4%
General Motors $4,320 –104 –2%
EOG Resources $4,067 –304 –7%
Occidental Petroleum $3,379 –23 –1%
Honeywell International $2,830 –21 –1%
Deere $2,152 –268 –12%
American Electric Power $1,943 –32 –2%
Principal Financial $1,641 –49 –3%
FirstEnergy $1,495 –16 –1%
Prudential Financial $1,440 –346 –24%
Xcel Energy $1,434 –34 –2%
Devon Energy $1,297 –14 –1%
DTE Energy $1,215 –17 –1%
Halliburton $1,082 –19 –2%
Netflix $856 –22 –3%
Whirlpool $717 –70 –10%
Eli Lilly $598 –54 –9%
IBM $500 –342 –68%
Goodyear Tire & Rubber $440 –15 –3%
Penske Automotive Group $393 –16 –4%
Aramark $315 –48 –15%
AECOM Technology $238 –122 –51%
Tech Data $203 –10 –5%
Performance Food Group $192 –9 –4%
Arrow Electronics $167 –12 –7%

Source: Institute on Taxation and Economic Policy

The controversial Tax Cuts and Jobs Act, signed by President Donald Trump in December 2017, lowered the corporate tax rate to 21 percent from 35 percent, among other cuts. That’s partly to blame for giving corporations an easier way out of paying taxes, said Matthew Gardner, an ITEP senior fellow and lead author of the report. The new corporate tax rate “lowers the bar for the amount of tax avoidance it takes to get you down to zero,” he said.

“The specter of big corporations avoiding all income taxes on billions in profits sends a strong and corrosive signal to Americans: that the tax system is stacked against them, in favor of corporations and the wealthiest Americans,” Gardner wrote in the report.
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During Obama's reign ...

"https://www.thestreet.com › Investing › Stocks
Dec 21, 2017 - GE was one of 18 Fortune 500 companies that paid no net federal income taxes between 2008 and 2015,"

Furthermore, Corps don't necessarily make a profit every year.

And If we total your cherry picked list, we get about $50 billion in profits. Which even at a 30% rate ... would total about $15 billion in tax revenue. That's table scraps compared to a $4 trillion dollar budget. :palm:
 
Legion said:
Except that the "average" tax payer doesn't "get" $100. That's the "least" amount of reduction in the tax burden, not the average.

From the OP: "The vast majority of American tax filers -- more than 65% -- will see their overall tax burden decrease by at least $100."

Mason is either lying about what the report says or is too stupid to comprehend what it means. There is no "average" cited in the OP.

Like a whining child waiting for mommy to hand out candy, he seems to think everyone should get the same tax reduction regardless of their circumstances.
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I’m glad you are using the word tax burden because most of these liberals don’t understand that word. They equate reduced tax burden with a refund.

People who get a refund think it’s free money from the government. The liberals don’t realize they are simply getting their own money back they have allowed the government to use interest free.
Put your potential tax burden in an account every month so you can earn money on your own money.
 
Tkaffen said:
I’m glad you are using the word tax burden because most of these liberals don’t understand that word. They equate reduced tax burden with a refund.

People who get a refund think it’s free money from the government. The liberals don’t realize they are simply getting their own money back they have allowed the government to use interest free.
Put your potential tax burden in an account every month so you can earn money on your own money.
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Maybe that's because few of the liberals here file taxes.
 
MASON said:
Fake math
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How so? I'll understand if you don't know, of course.

Meanwhile, I'll just leave this here.

MASON said:
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Bigdog said:
During Obama's reign ...

"https://www.thestreet.com › Investing › Stocks
Dec 21, 2017 - GE was one of 18 Fortune 500 companies that paid no net federal income taxes between 2008 and 2015,"

Furthermore, Corps don't necessarily make a profit every year.

And If we total your cherry picked list, we get about $50 billion in profits. Which even at a 30% rate ... would total about $15 billion in tax revenue. That's table scraps compared to a $4 trillion dollar budget. :palm:
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Tax and spend DEMOCRATS don't seem able to grasp the idea that cutting taxes will force Congress to reign in spending, Bigdog. Or maybe they do. :burn:
 
Legion said:
Tax and spend DEMOCRATS don't seem able to grasp the idea that cutting taxes will force Congress to reign in spending, Bigdog. Or maybe they do. :burn:
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No matter how much politicians take from us, ... they always spend more. No doubt.

They even spent our Social Security retirement money. :palm:
 
Bigdog said:
No matter how much politicians take from us, ... they always spend more. No doubt.

They even spent our Social Security retirement money.
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Can't spend more than they take in unless they keep borrowing, so freezing the debt ceiling needs to be next, Bigdog.
 
Legion said:
Can't spend more than they take in unless they keep borrowing, so freezing the debt ceiling needs to be next, Bigdog.
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They will always make exceptions for "emergencies" ... like war.

During America's Civil War, the banks offered to loan our gov't money at 24-36%. Lincoln and congress authorized the printing of Greenbacks instead, ... which were interest free to the American people. It's an idea worth reexamining.
 
Bigdog said:
They will always make exceptions for "emergencies" ... like war.

During America's Civil War, the banks offered to loan our gov't money at 24-36%. Lincoln and congress authorized the printing of Greenbacks instead, ... which were interest free to the American people. It's an idea worth reexamining.
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Defeating DEMOCRATS is a worthy goal that we should all strive for Bigdog.
 
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