Proof the Corporate Thugs Pay ZERO in Taxes

[dmcowen674]

4-2-2004 Most Corps. Paid No U.S. Taxes in Late 90s

WASHINGTON - Most American and foreign corporations operating in the United States paid no income tax between 1996 and 2000, government auditors said Friday.

Among the largest corporations, American businesses were more likely to avoid taxation than foreign businesses.

Investigators also looked at companies that paid less than 5 percent of their total income in tax.

In 2000, the most recent year for which data was available, an estimated 94 percent of American corporations and 89 percent of foreign corporations paid less than 5 percent of their total incomes in taxes.

The two Democratic senators who asked the GAO to study corporate taxation said the results expose gaping loopholes in the tax system.

"They don't pay their fair share, and the net result is that average taxpayers ? working families ? wind up paying more to make up that difference," said Sen. Byron Dorgan, D-N.D. "That's not fair or right."

Researchers also found that companies improperly reduce or eliminate their tax liabilities by fallaciously pricing transactions among subsidiaries in different countries.
------------------------------------------------------------------------
Here we go, now we'll get all kinds of excuses from CAD & his P&N Minions defending all of the Corporate Thug bastages.

:|

 

[Orsorum]

Why didn't they pay the full amount?

 

[heartsurgeon]

Cool! now i'm officially a Thug.

i own two corporations, and neither paid any taxes. Yehaw!!

what this cretinous about this is that "total income" is not the same as "taxable income"

my corporations have expenses, they pay out wages (which get taxed handsomely). this is "populist crap" being spouted off by a tax & spend democrat that knows full well that what he's saying is crap. besides, the DEMOCRATS rewrote the tax code in the 90's, so what's he griping about?

"Don't it feel good to be a gangsta!"

 

[burnedout]

Late 90s, eh?

 

[dmcowen674]

Originally posted by: burnedout
Late 90s, eh?

That's how behind CAD's beloved Government statisticians are. We won't see the true measure of how badly we're being raped from 2000 to now until 2010. :|

 

[fjord]

Sheltering income from taxation, is an advantage enjoyed by the wealthy.

It matters not if you are democrat or republican or anything else.

Your ability and options on how to use and abuse the system (legaly or otherwise), are directly proportional to how much money you make.

 

[ReiAyanami]

corporation A gives Senator B money to run his campaign. after winning election, Senator B gives corporation A a big tax break. especially if that corporation is in the congressman's home district because "giving taxes to *local* businesses" promotes business, and while true, it means little or no tax revenue.

we still got a $7 trillion deficit and rising! it all makes sense now!!

 

[Genesys]

yes, we already know about the huge corporate tax loopholes. instead of trying to play the blame game, why dont we try and get the tax system overhauled? doesnt that sound more productive than bitching and trying to place the blame?

and your statistics were from years when the libs beloved clinton was in orfice. did you happen to notice that dave?

 

[dirtboy]

Originally posted by: dmcowen674
4-2-2004 Most Corps. Paid No U.S. Taxes in Late 90s

WASHINGTON - Most American and foreign corporations operating in the United States paid no income tax between 1996 and 2000, government auditors said Friday.

So what you're saying is that while your boy Clinton was in office, he let corporations evade paying taxes and then when Bush came into office that stopped.

Score another point for Bush putting the brakes on Clinton's rich boy friends corporate thuggery.

 

[burnedout]

Originally posted by: dirtboy

So what you're saying is that while your boy Clinton was in office, he let corporations evade paying taxes and then when Bush came into office that stopped.

Score another point for Bush putting the brakes on Clinton's rich boy friends corporate thuggery.

Floyd Norris of the NYT seems to hold a similar view.

The wild swings in federal budget deficits might have been reduced. Companies would owe a lot less money. Less wealth would have been transferred from shareholders to managers, but then perhaps less paper wealth would have been created. Richard A. Grasso might still be running the New York Stock Exchange.

All that might have happened if American politicians, a decade ago, had not forced the Financial Accounting Standards Board to back down from its proposal to force companies to record as a compensation expense the value of stock options given to employees. . . .

[...]

That helped to produce the Clinton budget surpluses, and the bursting of the bubble meant that most of the forecasted surpluses were going to vanish anyway, even before the Bush administration cut taxes.

Although, to be fair, I can't remember if the changes occured before or after the "angry white men" vote of '94.

 

[dmcowen674]

Originally posted by: Genesys
yes, we already know about the huge corporate tax loopholes. instead of trying to play the blame game, why dont we try and get the tax system overhauled? doesnt that sound more productive than bitching and trying to place the blame?

and your statistics were from years when the libs beloved clinton was in orfice. did you happen to notice that dave?

Originally posted by: dirtboy

Originally posted by: dmcowen674
4-2-2004 Most Corps. Paid No U.S. Taxes in Late 90s

WASHINGTON - Most American and foreign corporations operating in the United States paid no income tax between 1996 and 2000, government auditors said Friday.

So what you're saying is that while your boy Clinton was in office, he let corporations evade paying taxes and then when Bush came into office that stopped.

Score another point for Bush putting the brakes on Clinton's rich boy friends corporate thuggery.

I already addressed this. Your "beloved" statiticians are way behind, they will publish the numbers in another 4 or 5 years. But of course you guys don't bother to read, you just spew garbage for the sake of spewing it.

 

[XZeroII]

Originally posted by: dmcowen674

Originally posted by: burnedout
Late 90s, eh?

That's how behind CAD's beloved Government statisticians are. We won't see the true measure of how badly we're being raped from 2000 to now until 2010. :|

Wow. Now that is how you transfer blame! I have never seen it done so well. Clinton screws us over ROYALLY, and Dave tries shifting some of that over to Bush because Bush doesn't have accurate numbers. Bravo! You should be a politician, Dave. You would fit right in.

 

[dirtboy]

Originally posted by: dmcowen674

Originally posted by: Genesys
yes, we already know about the huge corporate tax loopholes. instead of trying to play the blame game, why dont we try and get the tax system overhauled? doesnt that sound more productive than bitching and trying to place the blame?

and your statistics were from years when the libs beloved clinton was in orfice. did you happen to notice that dave?

Originally posted by: dirtboy

Originally posted by: dmcowen674
4-2-2004 Most Corps. Paid No U.S. Taxes in Late 90s

WASHINGTON - Most American and foreign corporations operating in the United States paid no income tax between 1996 and 2000, government auditors said Friday.

So what you're saying is that while your boy Clinton was in office, he let corporations evade paying taxes and then when Bush came into office that stopped.

Score another point for Bush putting the brakes on Clinton's rich boy friends corporate thuggery.

I already addressed this. Your "beloved" statiticians are way behind, they will publish the numbers in another 4 or 5 years. But of course you guys don't bother to read, you just spew garbage for the sake of spewing it.

awwww poor little Davey got his panties all bunched up with his own numbers only pointed the fingers at his former hero Clinton.