Profits up, taxes down

[Guns Guns Guns]

Yet the Republicans want you to believe that American commerce is hampered by high taxes and burdensome regulation.....





While the U.S. economy staggers through one of its slowest recoveries since the Great Depression, American companies report strong earnings for the second quarter — exposing a dichotomy between corporate performance and the overall health of the economy.








Unemployment is too high, bank lending necessary to spur spending is too low, home prices are depressed while household expectations for financial well-being are near record low levels.










Against this backdrop, many U.S. companies report robust profits.






Combined earnings of companies in the Standard & Poor's 500-stock index are projected to rise 13.6% from a year ago for the second quarter, according to an analysis of Wall Street forecasts.






"Corporate profits have been much stronger than the economy in general," says Charles H. Blood Jr., a market strategist at the New York-based financial services firm.








http://www.cbsnews.com/8301-504083_162-20078743-504083.html




And while their leaders claim that US businesses are hurting because of "Obama", the GOP base chows down on this steaming pile....

 

[Guns Guns Guns]

Median compensation for CEOs ballooned 27 percent in 2010 alone, rising to a cool $9 million.



Before-tax corporate profits fared even better, growing by nearly 37 percent in 2010 and maintaining their pace with an additional nine percent growth in the first quarter of 2011.




Indeed, so one-sided has the recovery been that corporate profits account for 92 percent of the growth in national income since the beginning of the recovery.

 

[NOVA]

Well Billy Boob....the corporations profits are made WORLD WIDE, not just in the US....and THAT is reason for their high profits.....and the taxes they pay are paid in and to those countrys where the profit was made.....get a fuckin' clue already, ...

 

[Guns Guns Guns]

Well Billy Boob....the corporations profits are made WORLD WIDE, not just in the US....and THAT is reason for their high profits.....and the taxes they pay are paid in and to those countrys where the profit was made.....get a fuckin' clue already, ...

Got any evidence for your assertion, Blabo?

 

[NOVA]

http://money.cnn.com/2011/05/04/news/companies/exxon_oil_taxes/index.htm

In the first months of this year, Exxon (XOM, Fortune 500) says it paid $3.1 billion in taxes in the United States -- more than even the $2.6 billion in profit it made selling oil and gas.
(Exxon Mobil made $30.46 billion in 2010)

To get to that number, the company includes the federal and state gasoline taxes that the company collects from drivers and passes on to government coffers. It also includes payroll taxes the company pays on behalf of its employees.

The company is highlighting its overall tax contributions to make a point: It wants Americans to see just how much the company and its activities add to the overall tax rolls.

"We are one of the largest taxpayers in the United States," said Alan Jeffers, an Exxon spokesman.

 

[Guns Guns Guns]

To get to that number, the company includes the federal and state gasoline taxes that the company collects from drivers and passes on to government coffers. It also includes payroll taxes the company pays on behalf of its employees

Poor Blabo. That's like adding up all the taxes your employees pay and pretending you paid them.

Try again.

 

[NOVA]

Poor Blabo. That's like adding up all the taxes your employees pay and pretending you paid them.

Try again.

Thats their point, not mine.....

My point was to prove that the $30.46 billion they made in 2010 certainly was not profit from US sales of gas.....it was world wide sales....

 

[Guns Guns Guns]

Poor Blabo.


Corporations are not required to pay US taxes on earnings derived from offshore revenue unless they bring those earning to the US, which is why they maintain offshore accounts.


Just so you can't continue to pretend that corporations pay so little because of the Bush recession,




Ostensibly, the U.S. federal tax code requires corporations to pay 35 percent of their profits in income taxes.




But of the 275 Fortune 500 companies that made a profit each year from 2001 to 2003 and for which adequate information to draw conclusions is publicly available, only a small proportion paid federal income taxes anywhere near that statutory 35 percent tax rate.




The vast majority paid considerably less.




In fact, in 2002 and 2003, the average effective tax rate for all of these 275 companies was less than half the statutory 35 percent rate. Over the 2001-2003 period, effective tax rates ranged from a low of -59.6 percent for Pepco Holdings to a high of 34.5 percent for CVS.




Over the three-year period, the average effective rate for all 275 companies dropped by a fifth, from 21.4 percent in 2001 to 17.2 percent in 2002-2003.






http://reclaimdemocracy.org/corporate_welfare/real_tax_rates_plummet.php

 

[NOVA]

Poor Blabo.


Corporations are not required to pay US taxes on earnings derived from offshore revenue unless they bring those earning to the US, which is why they maintain offshore accounts.


Just so you can't continue to pretend that corporations pay so little because of the Bush recession,

I didn't say a word about "the Bush recession".....are you now hallucinating....




Ostensibly, the U.S. federal tax code requires corporations to pay 35 percent of their profits in income taxes.

No shit Charlie Chan.....thats exactly what I told you in the third post......are your stupid pills kicking in not or what.....

 

[Guns Guns Guns]

No shit Charlie Chan.....thats exactly what I told you in the third post......are your stupid pills kicking in not or what.....

Merely anticipating your next dance move, Blabo.

So, now you see that corporate loopholes, welfare and tax breaks must cease?

 

[NOVA]

What you need to see is that tax loopholes, tax breaks, and varying tax rates are what is used almost exclusively by the democrats to advance their social engineering goals....
They use the tax system to reward and punish different entities depending on what their goals are.....
Half the population doesn't pay taxes ?
Tax money used for windmill nonsense ?
Tax breaks for solar energy bullshit.... ?
Top 10% of successful people that provide jobs and needed services and goods for the general population are saddled with an unfair portion of taxes paid to government....?
Tax money feeding the climate change crap ?

The list is endless in thousands of big and small ways to drive the liberal agenda....

when a flat tax rate, or even two rates, covering EVERYONE would be the moral way to tax with no exclusions, exceptions, or favoritism.....

 

[Guns Guns Guns]

What you need to see is that tax loopholes, tax breaks, and varying tax rates are what is used almost exclusively by the democrats to advance their social engineering goals....They use the tax system to reward and punish different entities depending on what their goals are.....Half the population doesn't pay taxes ? Tax money used for windmill nonsense ? Tax breaks for solar energy bullshit.... ?Top 10% of successful people that provide jobs and needed services and goods for the general population are saddled with an unfair portion of taxes paid to government....?Tax money feeding the climate change crap ? The list is endless in thousands of big and small ways to drive the liberal agenda....when a flat tax rate, or even two rates, covering EVERYONE would be the moral way to tax with no exclusions, exceptions, or favoritism.....

Poor Blabo. What I need to see is proof that "tax loopholes, tax breaks, and varying tax rates are what is used almost exclusively by the democrats to advance their social engineering goals".

Show it, or blow it.

 

[Guns Guns Guns]

Poor Blabo. A quick internet search provided more proof that Blabo is a clueless credulous cretin.




The Production Tax Credit (PTC) for wind and other renewable energy technologies will be extended for one additional year – through December 31, 2008 – as part of a tax and trade policy bill passed during the closing hours of the 109th Congress.




http://archive.awea.org/newsroom/releases/Congress_extends_PTC_121106.html




Hmmm... who had majorities in both Houses of the 109th Congress, Blabo?


Who was the president?




Now, explain how federal funding of wind power is an evil plot by Democrats....