Roadway infrastructure problem

 to the 2nd bolded section.  I like the banter back and forth and don't take a difference in opinion personally.  I don't disagree with some of your thoughts, I just really disagree on the idea that the answer is to raise taxes.  The system needs to be fixed first.  Once the system is fixed, then consider raising taxes.  Until then, the foucet needs to be turned off.  In terms of the corporations, I'm not naive, I don't think they are without fault.  Again, I am just separating the social impact from the taxing impact.

In regards to the first post, I'd be quite curious to see that data.  I am far from the end all on the topic, but with what I do for a living, I have reviewed a lot of public companies' filings over the years, and from my experience, that percentage is not even remotely close.

This is a different statement then you originally made...but one I still don't think is true  Please define "major."  I still don't believe there is any sort of class of corporations that you will find where 75% don't pay any taxes, but I am interested to understand what you are referring. 

I'm willing to "take my blinders" off.   Instead of bashing me, try educating me. 

Quote Originally Posted by cd329:



the fortune 500 companies who employ huge staffs just to find ways to get out of paying any income tax. They can do this because the politicians who are in their pockets wont close the loopholes.
I have posted many links before on this subject.
Honestly am burnt out from this site, because am tired of all the posters who day after day want to kiss the ases of big business, for what reason i dont know. They are destroying the country and guys are still in love with them.
Any more questions direct them to Wall, am out of this thread.

Wow, you are such a joke it is hilarious.  You are telling me that 75% of Fortune 500 companies pay no taxes.

Even better, I live on the East Coast and stayed up an extra 20 minutes thinking you may have some sort of actual evidence that I was curious to see.  at myself.

So to recap, this country is messed up because "guys like me sit around with my blinders on while the big companies rape us to death."  And I have blinders on because I refuse to accept your hilarious claims that 75% of Fortune 500 Companies (I am assuming this was your response to my question as to what "major corporations" meant) don't pay taxes. 

And then you direct me to ask Wallstreet my questions from now on.

I can't believe I spent this much time interacting with you.

I have directed my questions at Wallstreet, and while I don't exactly agree with him, at least he can put a coherent argument together.  You on the other hand .

Sorry, forgot the link

https://www.nytimes.com/2011/02/02/business/economy/02leonhardt.html?_r=1&ref=davidleonhardt

Quote Originally Posted by cd329:

Wake, am wrong and you are correct

I just dreamed that, its not really happening

https://www.scribd.com/doc/56809745/12-Corporations-Pay-Effective-Tax-Rate-of-Negative-1-5-on-171-Billion-in-Profits

Wow, how stupid are you.  You make a statement saying "75% percent of major corporations and to back that grossly inaccurate claim up, you post an article that happens to cherry pick (yes, surprisingly, this is not a random sample of the population) 12 companies, of which, even out of those 12 companies, 4 are in a net tax paying position over the past 3 years. 

You are an absolute idiot, and I can see why everyone jumps down your throat in this forum.  You make completely inaccurate statements, and when you try to support your statements, it is comical.

The sad part is even when I was in 3rd grade, I could have won any sort of debate with you about a topic like this

Quote Originally Posted by Mance1:


He'll try to spin it. But the trouble is, Its like trying to spin the earth revolves around the sun. Cant be spun to anyone with understanding.

Not exactly sure what you mean by this, but are you too jumping on the bandwagon that 75% of corporations in the S&P 500 pay no taxes?  That has been posted by this idiot numberous times.  That is what I call spinning.  Unfortunately, he ran into someone who has a bit more understanding in this particular area than him

I've seen some of your other posts, and unlike him, you at least have somewhat of a brain.  I know it is tough to understand, but corporations are owned by the American people, and not all of the are evil.  And surprisingly, the majority of them (from my posted article, it looks like close 77% of them pay at least 20% on their income

The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005.

More than half of foreign companies and about 42 percent of U.S. companies paid no U.S. income taxes for two or more years in that period, the report said.

During that time corporate sales in the United States totaled $2.5 trillion, according to Democratic Sens. Carl Levin of Michigan and Byron Dorgan of North Dakota, who requested the GAO study.

The report did not name any companies. The GAO said corporations escaped paying federal income taxes for a variety of reasons including operating losses, tax credits and an ability to use transactions within the company to shift income to low tax countries.

With the U.S. budget deficit this year running close to the record $413 billion that was set in 2004 and projected to hit a record $486 billion next year, lawmakers are looking to plug holes in the U.S. tax code and generate more revenues.

Dorgan in a statement called the report "a shocking indictment of the current tax system." Levin said it made clear that "too many corporations are using tax trickery to send their profits overseas and avoid paying their fair share in the United States."

The study showed about 28 percent of large foreign corporations, those with more than $250 million in assets, doing business in the United States paid no federal income taxes in 2005 despite $372 billion in gross receipts, the senators said. About 25 percent of the largest U.S. companies paid no federal income taxes in 2005 despite $1.1 trillion in gross sales that year, they said.

(Reporting by Donna Smith, Editing by David Wiessler)

articles like this all over the net, but hey lets look the other way

Again, a spin.  57% of US companies paid no federal income taxes for at least one year between 1998 and 2005.  You do understand what that means.  In an 8 year window, one year a company may not have paid taxes. Possibly a net loss that year?  Who knows.  That is a far, far different representation from your original statement that 75% of corporations pay no taxes.

I'm not going to argue with you that there aren't loopholes.  What I just don't understand is, why this just a "corporation phenomenom in your mind?" Do you have the same issue with a small business owner who hires an accountant to help pay as little in the way of taxes as they can?  It is called good business acumen.  Why pay more taxes than you need to?  Under your logic, as an individual, should I turn down the opportunity to itemize my return and take deductions? 

I'm just not sure I understand why this is something you think only occurs with corporations