The TEA lie

[Guns Guns Guns]

The World Bank takes loopholes into account for its "Paying Taxes 2011" report looking at the "total tax rate" in each nation.




After adjusting for what businesses actually pay, the World Bank ranked the United States 124th out of 183 counties for the highest rate. This means the United States is higher than average, but about a third of the countries tax businesses more.




Some of the countries with a real business tax rate higher than here are Australia, Austria, Belgium, China, France, Germany, Iraq, Mexico, Spain, Sweden, Venezuela and Yemen.
Some with lower rates are Afghanistan, Canada, Chile, Denmark, Egypt, Haiti, Netherlands, Norway, Poland, Russia, Switzerland and the United Kingdom.




A side note worth mentioning is overall tax burden.


The OECD measures total taxes -- for businesses and citizens -- as a percentage of countries' gross domestic product (the total value of goods and services produced).




Among the 33 industrialized nations that are members, the United States ranks near the bottom, with only Korea, Turkey and Mexico having a lower tax burden.






http://www.rgj.com/article/20110208...er-U-S-corporate-tax-high-also-full-loopholes

 

[Guns Guns Guns]

According to the nonpartisan Congressional Budget Office, tax receipts from corporate income taxes are down.


Before some rightwinger claims that's because the economy is bad, readers should ask themselves what corporate profits are doing these days.




Net receipts from corporate income taxes were $2 billion (or 5 percent) less than the sums collected in June 2010. A $3 billion decline in corporate refunds only partly offset a $6 billion (10 percent) decline in gross.





http://imarketnews.com/node/33401

 

[Guns Guns Guns]

Two thirds of corporations now pay zero Federal income taxes, and most Fortune 500 companies pay a lower percentage of earnings in Federal taxes than do ordinary workers.




We are told that excessive taxation is all that stands in the way of job creation.




Unleash the power of the market by reducing the corporate tax rate, goes the refrain.




Yet corporations are already sitting atop a pile of $1.9 trillion in cash reserves, which they are holding onto.




Adding another trillion or so that that stack is not going to encourage a manufacturing plant to ramp up production when consumers are being hammered so hard that there are not enough buyers for the goods that are already on the market.




The job creation premise, of course, is a smokescreen to get public buy in for funneling yet more money into the pockets of the wealthy.








http://www.counterpunch.org/elich07112011.html

 

[NOVA]

According to the nonpartisan Congressional Budget Office, tax receipts from corporate income taxes are down.
Before some rightwinger claims that's because the economy is bad, readers should ask themselves what corporate profits are doing these days.

US profits down, tax revenue is down....most corporate profits are coming from foreign sales where the economy doesn't suffer because they have no Obama to deal with....


Net receipts from corporate income taxes were $2 billion (or 5 percent) less than the sums collected in June 2010. A $3 billion decline in corporate refunds only partly offset a $6 billion (10 percent) decline in gross.
One month ?
In 2010....Government revenue from corporation taxes was $195,000,000,000...............Thats $195 BILLION for you pinheads....

http://imarketnews.com/node/33401

Two thirds of corporations now pay zero Federal income taxes, and most Fortune 500 companies pay a lower percentage of earnings in Federal taxes than do ordinary workers.
Sadly, Unemployment in the US is well over 9%

We are told that excessive taxation is all that stands in the way of job creation.

Yet corporations are already sitting atop a pile of $1.9 trillion in cash reserves, which they are holding onto.

Foreign profits are up..



Adding another trillion or so that that stack is not going to encourage a manufacturing plant to ramp up production when consumers are being hammered so hard that there are not enough buyers for the goods that are already on the market.

There are plenty of buyers, just not in the US with its floundering economy.... Hopefully, the economy will survive......Democrats will be out soon, just not soon enough...


http://www.counterpunch.org/elich07112011.html

You're spinnin' like a top, Billy Boob.....

Who gives a shit about what the World Bank does.....
and who gives a shit about what the tax rate is as a percentage of countries' gross domestic product,,,its irrelevant....a meaningless figure for the most part...

Here in the U.S., while the top federal corporate tax rate is 35 percent, state corporate tax rates add anywhere from less than 1 percent to 12 percent to that figure, resulting in vastly different statutory tax rates based on a company's location. U.S. companies unlucky enough to be headquartered in Iowa face a top statutory corporate tax rate of 47 percent, while Washington State corporations face only the 35 percent federal rate.

The lesson? Statutory average tax rates often differ substantially from effective rates. Even within countries, companies commonly face widely disparate effective tax rates based on location, industry, income—and whether lawmakers view them as worthy of special preferences or deserving of penalties.


http://www.taxfoundation.org/blog/show/1471.html

US ranks the second highest in this list of Average Tax Rate in 2006


Pwned and Boned.....

 

[Guns Guns Guns]

Poor Blabo. He doesn't know the difference between the tax rate and the tax paid.


Two-thirds of corporations in America pay no federal income taxes.




U.S. multinational corporations pay zero Federal income taxes on money earned abroad until - and if - the money is brought into the U.S.




Many firms establish sham headquarters in places such as Bermuda, and monies are siphoned through foreign subsidiaries, all in order to circumvent tax laws.




Cisco Systems, for example, reduced its taxes by $7 billion by booking about half of its earnings at a small subsidiary office in Switzerland.












http://www.counterpunch.org/elich07112011.html

 

[Guns Guns Guns]

Grover Norquist, the keeper of the no-new-taxes pledge that virtually all Republican politicians have signed, has a new set of marching orders for the GOP troops, especially for the party’s presidential hopefuls: Enact Rep. Paul Ryan‘s budget plan.


The president of Americans for Tax Reform said former House Speaker Newt Gingrich ran into trouble with Republicans not so much because he called the Ryan plan “right-wing social engineering” but because he thought Republicans are looking for a “big thinker” with brave new plans.


They aren’t, Mr. Norquist said.






http://blogs.wsj.com/washwire/2011/07/12/norquist-issues-new-marching-orders-to-gop/

 

[NOVA]

Poor Blabo. He doesn't know the difference between the tax rate and the tax paid.

Two-thirds of corporations in America pay no federal income taxes.

Its not important that 2/3 of corporation pay no taxers.....whats important is WHY they pay no taxes.....
Are they viewed by liberals as worthy of special preferences ?
Are they viewed by liberals as deserving of penalties.?
Did they actually make enough of a profit in the US to owe taxes.....?
What exemptions did they LEGALLY qualify for ?

WHY......why......why.....why.....


U.S. multinational corporations pay zero Federal income taxes on money earned abroad until - and if - the money is brought into the U.S.

They pay the taxes to the country in which the money was earned.....


Many firms establish sham headquarters in places such as Bermuda, and monies are siphoned through foreign subsidiaries, all in order to circumvent tax laws.

Sham ?...Is it legal ?....if its legal, ITS LEGAL.....have you pinhead leader change the law, he thinks hes the asshole dictator

Cisco Systems, for example, reduced its taxes by $7 billion by booking about half of its earnings at a small subsidiary office in Switzerland.

In this country, we call that FREEDOM......if you have a problem with that, get the laws changed...The pinheads in Washington have two more years...or LEAVE...we won't miss you a bit...

.

 

[Guns Guns Guns]

Poor Blabo.

He cries about the deficit but doesn't think the Treasury needs any revenue.

 

[Damocles]

Poor Blabo.

He cries about the deficit but doesn't think the Treasury needs any revenue.

You are confused. Revenue will come when people have jobs, even without a rate increase. Increasing taxes into a jobs recession isn't wise policy, it is flat stupidity. Change the tax code temporarily to incentivize hiring.

 

[Guns Guns Guns]

You are confused. Revenue will come when people have jobs, even without a rate increase. Increasing taxes into a jobs recession isn't wise policy, it is flat stupidity. Change the tax code temporarily to incentivize hiring.

Seems to me that taxes have been cut several times since 2003.


Businesses need consumers, and people who are out of work - or are afraid that they may be soon -aren't big spenders.

 

[Damocles]

Seems to me that taxes have been cut several times since 2003.


Businesses need consumers, and people who are out of work - or are afraid that they may be soon -aren't big spenders.

Cutting taxes in good times without cutting spending is also foolish. You won't see me defending stupid policy, even if it comes from a liberal idiot who calls himself a republican. Just "cutting taxes" without using the code to incentivize companies who have forgotten how to plan for the long-term to hire is also foolish in the current environment, IMO.

 

[Guns Guns Guns]

Cutting taxes in good times without cutting spending is also foolish. You won't see me defending stupid policy, even if it comes from a liberal idiot who calls himself a republican. Just "cutting taxes" without using the code to incentivize companies who have forgotten how to plan for the long-term to hire is also foolish in the current environment, IMO.

How would you "incentivize" companies that already pay very little in taxes or get subsidies without being required to hire Americans?

 

[Damocles]

How would you "incentivize" companies that already pay very little in taxes or get subsidies without being required to hire Americans?

I don't believe in subsidies to companies. In this case you would give a temp reduction in taxes they would then be paying for new hires kept over a certain amount of time, increasing it the longer they remain, ending the incentive when the jobs market recovers.

It's stupid to just cut the amount you put into Social Security and trumpet it as a "tax cut for the working class" and pretend it creates jobs. It doesn't. Of all the people that come to the board, there is likely nobody that has ever worked for somebody who was poor. Incentivize them to look at the long term (like Ford did at its inception), if you want people to be able to buy your product, you have to pay them enough to buy it, and you have to hire... Long term thinking tells a company that future customers need to have jobs. Unfortunately we've gone so far from that kind of thinking in the US that it would actually take government action to create sanity. Unfortunately, we stand around arguing over Casey Tot-mom rather than working to find people to elect who understand a longer view.

 

[Guns Guns Guns]

Long-term, many multinationals are looking for expanding markets elsewhere, where emerging economies are giving rise to consumer demand backed by new spending power, wouldn't you say?

 

[Guns Guns Guns]

http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corporate-taxes_slide.html

 

[Annie]

You are confused. Revenue will come when people have jobs, even without a rate increase. Increasing taxes into a jobs recession isn't wise policy, it is flat stupidity. Change the tax code temporarily to incentivize hiring.

Indeed. The problem isn't the tax rates, it's the number of tax payers.

 

[Guns Guns Guns]

Indeed. The problem isn't the tax rates, it's the number of tax payers.

Did the night manager at Walgreen's tell you that, or do you have some actual facts to cite?


For months now, congressional Republicans have refused to support any debt ceiling and budget deal that would raise taxes on the wealthy because, these economic wizards tell us, the rich are “job creators.”




Tax increases would discourage these job genies from expanding their businesses.




Unemployment, already at 9.2 percent (which says something about the job-creation myth, doesn’t it?), would get even worse, they insist.




The problem with this economic philosophy?


It’s garbage.




Even Warren Buffett, one of the richest men in the world, knows that: “The rich are always going to say, ‘Just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you.’ But that has not worked the last 10 years, and I hope the American public is catching on.”


http://blog.nj.com/njv_editorial_page/2011/07/on_high_income_taxes_and_job_c.html