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Author: [Politics] Topic: Just heard on Hannity
wallstreetcappers send a private message View Space | Friends | Playbook |
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#26
Posted: 12/12/2010 12:25:21 AM
QUOTE Originally Posted by lordspoint:

While I agree companies main function is to make a profit, companies just as citizens should pay taxes.....not at the current rate but taxes none the less. If we didnt have a strong military to protect our interest abroad perhaps Exxon/Mobil would not have the clout they do.



The first part is correct.

Any person or entity existing inside the boundaries of this country gain BENEFIT from the government, oil companies especially. Companies should pay DOUBLE the tax because they are cheating and stabbing at the heart of the middle and lower class with their lobbyists and special interest groups that have turned congress into a money whoring mess.

There is absolutely ZERO reason why a corporation does not deserve to pay taxes..job creation is not a reason for without a production staff there is no product. The fact that the end product is taxed by state and local sales tax is not a reason, if that were the case then a worker would have no additional tax than wage taxes.

The legality of net loss carry forwards are legit, but to me if a company is going to use a NOL to offset taxes, then they should also be required to offset a NOL with any government freebies (including state and muni handouts). If you want to carry forward losses, then you have to offset a handout before you get to claim the loss as a tax write off.
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#27
Posted: 12/12/2010 12:29:19 AM
QUOTE Originally Posted by SarasotaSlim:

At least Exxon is not asking for a Government bailout...like AIG, or Citigroup, or GM and Chrysler or one of the big Wall Street outfits..

Exxon employs over 79,000 people... Taxes paid by Exxon employees accounts for Billions in Feredal tax revenues  ..and imposing punitive taxes on Exxon would only force them to shed a large percent of these employees...( adding more unemployment at a time when the rate is 9.7%) and remember the company has not done anything illegal ...

 

Your still missing the point, so theres no use for me to keep going back and forth with you.

Who and how many people they employ doesnt matter, they need those people to make their 40 billion in profits.

Heres the thing if a company, any company makes a profit they should have to pay taxes just like the rest of us.  40 billion and they cant pay some taxes.  come on somethings really wrong here.

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#28
Posted: 12/12/2010 12:31:12 AM
so if exxon only makes 36 billion in profits, they are going to get rid of tons of employees?  come on
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#29
Posted: 12/12/2010 12:44:49 AM
Corporations are paying income tax.  Whenever corporations pay employees,  income tax revenue is collected by government.  Dividends paid to shareholders are subject to income tax too. There is no escape from taxation.   For some businesses, property tax or sale tax is greater than income tax.   However some people don't understand the fairness of government allowing business to use past losses to offset future profits and reduce income tax. 
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#30
Posted: 12/12/2010 12:47:13 AM

You are missing the point ..because I have not said they shouldn't pay taxes...I'm saying change the tax laws and WSC'ers last paragraph would be a good start. 

You are attacking the wrong villian here..it's tax credits and deduction.. the tax offsets that need to be addressed and changed.

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#31
Posted: 12/12/2010 12:51:42 AM
QUOTE

Originally Posted by thirdperson:

Corporations are paying income tax.  Whenever corporations pay employees,  income tax revenue is collected by government.  Dividends paid to shareholders are subject to income tax too. There is no escape from taxation.   For some businesses, property tax or sale tax is greater than income tax.   However some people don't understand the fairness of government allowing business to use past losses to offset future profits and reduce income tax. 

 

you cant be serious with this post?  taxes that employees pay from their checks has nothing to do with what the companies should be paying.

Heres the thing after exxondeducted all their expenses including the salaries of all their fatcats, they still showed a 40 billion dollar profit. Do you really believe that they shouldnt have to pay any taxes on that 40 billion profit?  Then why does my wife and other businesses that make a profit have to pay taxes on the profit?  Really what makes them btter then everybody else that pays their fair share in taxes.  40 billion and they cant pay 10-15 percent to help support our country and govt?  Thats just plain crazy.

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#32
Posted: 12/12/2010 1:08:29 AM
QUOTE Originally Posted by SarasotaSlim:

You are missing the point ..because I have not said they shouldn't pay taxes...I'm saying change the tax laws and WSC'ers last paragraph would be a good start. 

You are attacking the wrong villian here..it's tax credits and deduction.. the tax offsets that need to be addressed and changed.

 

well what i dont understand is how when their taxes are all  calculated and all the expenses have been taken out, and theres still 40 billion left in profit, how do they get out of paying taxes on that profit?

After all my wifes expenses have been taken out, she pays taxes on the profit that is left.  Why isnt exxon doing the same.  How do they get out of that part, i jusr dont get it.

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#33
Posted: 12/12/2010 1:42:22 AM

People don't want to believe the rich and corporations  pay their fair share of taxes.    Actually, corporations are among the biggest taxpayers to government when considering ALL taxes combined.

Most people would rather not suffer huge losses to offset future profits and reduce income tax to zero.  Nothing is free.

 

 

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#34
Posted: 12/12/2010 2:00:11 AM
There is a huge difference between large and small businesses-

My "small" business pays no tax because it is an S corp-

Everything passes through to my personal taxes-



What % of publicly held companies pay corporate income tax?
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#35
Posted: 12/12/2010 2:19:19 AM
QUOTE Originally Posted by Dsn150:

There is a huge difference between large and small businesses-

My "small" business pays no tax because it is an S corp-

Everything passes through to my personal taxes-



What % of publicly held companies pay corporate income tax?

 

no self employment taxes with s corp?

How goes things my friend

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#36
Posted: 12/12/2010 2:31:29 AM
QUOTE Originally Posted by SarasotaSlim:

At least Exxon is not asking for a Government bailout...like AIG, or Citigroup, or GM and Chrysler or one of the big Wall Street outfits..

Exxon employs over 79,000 people... Taxes paid by Exxon employees accounts for Billions in Feredal tax revenues  ..and imposing punitive taxes on Exxon would only force them to shed a large percent of these employees...( adding more unemployment at a time when the rate is 9.7%) and remember the company has not done anything illegal ...

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#37
Posted: 12/12/2010 5:57:02 AM
QUOTE Originally Posted by lordspoint:

close the loop holes so they cant get away with this unAmerican act

You're a US based company, pay your damn taxes



and they will just pack up and move overseas

the chances of any loopholes getting closed are as likely as richarda making an intelligent and rational post.

wasn't reagan great for America?
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#38
Posted: 12/12/2010 6:54:18 AM
QUOTE Originally Posted by cd329:

 

First off if the company made 40 billion in profits, why would they push the cost onto all of us? So what your saying is companies have to make crazy profits or else they raise the prices on us?  thats friggin insane.  I dont know what the percentages should be for them to get taxed, but come on if a company makes 40 billion they should have to pay some taxes, hows about 10 percent, would that be so on fair?  These companies are ripping all of us who pay our taxes and you should be made as hell about it. yes i know its the govts fault, and thats because all the politicians are in bed with the companies, thats why the politicans want the tax cuts for their rich buddies.

Now going back to your point, that companies will raise their prices and pass it on to us, well then people who cant afford their product no more wont buy it then, this in turn will either make the company lower their prices or new companies will be formed with better prices.

Any way you cut it, if a company doesnt lose money and makes a profit they should be paying taxes on that profit, the same way all of us pay our taxes.



you didnt read my post at all and are just angry at XOM for not paying taxes or however they did their accounting

reread what i posted
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#39
Posted: 12/12/2010 11:16:56 AM

KOAJ

in all fairness to CDnumbers, you may need to "dumb it down" for him.... ( union guy you know )

Can you use no words with more than 2 syllables and / or pictures

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#40
Posted: 12/12/2010 12:48:29 PM
QUOTE Originally Posted by tikitom:

How many dollars do the employees of this corporation provide the government?

How many dollars do the customers of this corporation provide the government every single time they purchase this corporations product?

If this "corporation" were forced to write the IRS a check for 1 trillion dollars today, where would this money come from? Would Steve Exxon pull the money out of his wallet? Would Suzy Exxon person herself out a trillion times at $1 each? OR would the prices of this corporation rise effectively passing this new burden on to the customers of this corporation? How would this new liability affect this corporations stock price and thus the value of countless retirement accounts invested in this corproration?

What tax would be acceptable punishment for this evil entity? This satan that provides thousands of jobs, fininancial security for millions, floods the federal coffers with revenue from multiple streams, all the while selfishly combing every nook and cranny of the planet for oil and then turns said oil into gasoline (the life blood of every economy on the planet) which it then makes available on every street corner in the civilized world for less than a gallon of Dasani or Evian?


The new CEO of BP ladies and gentlemen!!!

Give him a hand!!! 

Welcome to the forums!!!
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#41
Posted: 12/12/2010 12:55:57 PM
Break it down a syllable at a time, scab. Both tits and tikitom are way beyond your reach.
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#42
Posted: 12/12/2010 2:29:16 PM
QUOTE Originally Posted by scalabrine:


The new CEO of BP ladies and gentlemen!!!

Give him a hand!!! 

Welcome to the forums!!!

 

Care to dispute my thesis?

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