Big Country Posted August 14, 2011 Share Posted August 14, 2011 Saved ya some money but please don't horde it - that is evil. Oh, you said horde....... thought you said whore it. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 14, 2011 Share Posted August 14, 2011 Where's the outrage? Ten companies that don't pay taxes. But let's clamor toward those in poverty, because we need to "broaden the base." broadening the tax base will expose much of this income you are fretting over to taxation. that is the whole point. dumbass. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted August 14, 2011 Share Posted August 14, 2011 broadening the tax base will expose much of this income you are fretting over to taxation. that is the whole point. dumbass. Won't happen because that would be increasing revenue. The Tea Party and their tin god Norquist won't let that happen. Quote Link to comment Share on other sites More sharing options...
Apathy Posted August 14, 2011 Share Posted August 14, 2011 Ten companies that don't pay taxes. But let's clamor toward those in poverty, because we need to "broaden the base." How much credence do we want to give to a self-procliamed socialist? I didn't run down the whole list but I looked at his top five... Exxon: I can't find a "rebate" of any sort, nor am I even sure what a corporate tax rebate looks like. Exxon did, however have an effective tax rate of between 41% and 44% during the last five years. Unfortunatly for Senator Sanders' liking, most of Exxon's business is overseas and so that's where their tax liability is. B of A: Poor idea to accuse a financial services company of tax evasion or avoidance during the last few years. They had an income tax benefit of $1.9B in 2009, not 2010 as claimed by Sanders. Their 2010 income tax was actually a liability of $915MM on losses of $1.3B. Financial services firms have suffered from "below the line" expenses during the last few years, such as impairments and changes in DTAs and DTLs. GE: I can almost buy this complaint as their effective tax rate is very low but again - it's because of GE Capital, another poor-performing financial services firm. Chevron: Chevron's effective income tax rate during the last five years has ranged from 40% to 46%. Boeing: Benefitted in 2010 from a settlement with the IRS from an old audit. Other benefits in prior years stem from R&D credits. Still, their effective tax was between 23% and 34% over the last five years, including 27% in 2010. I'd be careful before citing Bernie Sanders as an expert on anything, much less financial and tax data. Quote Link to comment Share on other sites More sharing options...
Apathy Posted August 14, 2011 Share Posted August 14, 2011 Where's the outrage? There are some...what...140MM individual income tax returns filed every year? And this article states that we should have beef with 105,000 of them? That's 0.075% of all of them. And the author goes on to state that there could be legitimate reasons for lack of tax liability for those 105,000. Heck, the IRS examination rate is probably a lot higher than 0.075% so some or all of those returns may in fact be investigated at some piont within the typical three-year window. Quote Link to comment Share on other sites More sharing options...
Apathy Posted August 14, 2011 Share Posted August 14, 2011 C'mon man . . .really? You are really adding a lot of class to this duscussio with the childish comments. Unfortunately, there is no shortage of sarcasm from either "side" in these little diatribes, hence the reason so many folks have gotten tired of The Tailgate. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted August 14, 2011 Share Posted August 14, 2011 Exxon: I can't find a "rebate" of any sort, nor am I even sure what a corporate tax rebate looks like. Exxon did, however have an effective tax rate of between 41% and 44% during the last five years. Unfortunatly for Senator Sanders' liking, most of Exxon's business is overseas and so that's where their tax liability is. Well, one of you is wrong or obfuscating. 1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings. I think it's you. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 14, 2011 Share Posted August 14, 2011 Won't happen because that would be increasing revenue. The Tea Party and their tin god Norquist won't let that happen. well, as I've said before the various proposals out there (bowles-simpson being the primary example) call for broadening the base while lowering rates. bowles simpson aims to do it in such a way that it does increase revenue. paul ryan put forth a similar plan with lower rates than bowels-simpson that keeps revenue at anout 18% of GDP, which is where it is currently projected. whether it increases revenue or not is in the details. but I can almost guarantee this much: any such plan that makes it very far WILL increase revenue. Quote Link to comment Share on other sites More sharing options...
Apathy Posted August 14, 2011 Share Posted August 14, 2011 Well, one of you is wrong or obfuscating. I think it's you. Well, it is indeed difficult to refute the empirical data you have put forth. They are paying higher than the 35% "theoretical" tax. If you think some or all of their taxes should be repatriated, figure out which taxes are being illegitimately parked, if any, then go after them while also finding a way to reduce U.S. corporate tax rates so it doesn't happen in the future and/or so they don't raise prices domestically. You'll have to do something similar at the state level. By the way, the IRC has plenty of red tape regarding transfer pricing and APAs so any way you slice it, your best bet is still to simplify the tax law. Quote Link to comment Share on other sites More sharing options...
WaterMan Posted August 14, 2011 Share Posted August 14, 2011 Unfortunately, there is no shortage of sarcasm from either "side" in these little diatribes, hence the reason so many folks have gotten tired of The Tailgate. I'm sure it wasn't sarcastic at first but then morphed into sarcasm when said person was called out. Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted August 14, 2011 Share Posted August 14, 2011 Won't happen because that would be increasing revenue. The Tea Party and their tin god Norquist won't let that happen. Won't happen because some poor or elderly people may have to chip in a bit when they have not in the past. the liberals will scream class warfare and won't let that happen. This is a fun game wanna keep playing? OK then it is your turn. Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted August 14, 2011 Share Posted August 14, 2011 I'm sure it wasn't sarcastic at first but then morphed into sarcasm when said person was called out. Oh my god - read it again - if you could not tell there was sarcasm and joking involved you are nuts. Is nuts an ok word? Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted August 14, 2011 Share Posted August 14, 2011 I'm sure it wasn't sarcastic at first but then morphed into sarcasm when said person was called out. Let me also add that if Bushy really does look enough like Bachman that people may have thought that I really mistook him for Bachman smoking a sausage then my post truly was in bad taste. If he does look that much like her then i guess that gives a whole new meaning to the tuck rule. Quote Link to comment Share on other sites More sharing options...
WaterMan Posted August 14, 2011 Share Posted August 14, 2011 (edited) Let me also add that if Bushy really does look enough like Bachman that people may have thought that I really mistook him for Bachman smoking a sausage then my post truly was in bad taste. If he does look that much like her then i guess that gives a whole new meaning to the tuck rule. I understand your side. Someone posts a hughmorous picture of your GOP's leading canidate and you start throwing out the insults because he made you mad. It's perfectly natural. Don't try and hide that you were upset. And that must be why you double posted to me about it. That anger causes action. Edited August 14, 2011 by WaterMan Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted August 14, 2011 Share Posted August 14, 2011 I understand your side. Someone posts a hughmorous picture of your GOP's leading canidate and you start throwing out the insults because he made you mad. It's perfectly natural. Don't try and hide that you were upset. And that must be why you double posted to me about it. That anger causes action. Mad??? I sure as hell did not get mad - I got a woody. Come on you did too that is what made you so mad. Quote Link to comment Share on other sites More sharing options...
bushwacked Posted August 14, 2011 Share Posted August 14, 2011 This is a fun game wanna keep playing? Ursa made an accurate statement based on current day realities and stated objectives of the tea party. You responded with hyperbole. Is the object of the game to confirm you are out-witted? Quote Link to comment Share on other sites More sharing options...
bpwallace49 Posted August 14, 2011 Share Posted August 14, 2011 broadening the tax base will expose much of this income you are fretting over to taxation. that is the whole point. Okay . . . but . . . Won't happen because that would be increasing revenue. The Tea Party and their tin god Norquist won't let that happen. Exactly. Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted August 14, 2011 Share Posted August 14, 2011 Ursa made an accurate statement based on current day realities and stated objectives of the tea party. You responded with hyperbole. Is the object of the game to confirm you are out-witted? That sounded like a bit of a shot - can I get a call on if that was childish? Anyone? Seriously - may have been hyperbole but probably 95% accurate with how these two parties have been acting. Quote Link to comment Share on other sites More sharing options...
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