Do the Big Corporations advoid paying taxes by hiding their profits overseas how does this work ?

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missouri632007
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Do the Big Corporations advoid paying taxes by hiding their profits overseas how does this work ?

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bobbler
bobbler's picture
I asked my friend who works

I asked my friend who works for the IRS, in a division that goes after these corporations (no answer).. We are hoping for a progressive government, so that division gets more funding..  Frankly I was surprised that department had any funding at all under bush2..

Mr.Burns
Mr.Burns's picture
Its not necessary to "hide"

Its not necessary to "hide" it, the whole tax system is A twisted mess that is easily manipulated. These are the kind of programs and inefficiencies that government tends to produce.

You want to increase revenue? Junk the whole system and lower the actual rate.

bobbler
bobbler's picture
I think the "confusion and

I think the "confusion and inefficiencies" happen when corporations buy access that gets them the ability to write the text of the laws (they give politicians money, then get a team of their own corporate lawyers to write the text of bills)..  I agree with thom, we should return to the tax system we had 30 years ago (before reagan)..

Mr.Burns
Mr.Burns's picture
bobbler wrote: I think the

bobbler wrote:

I think the "confusion and inefficiencies" happen when corporations buy access that gets them the ability to write the text of the laws (they give politicians money, then get a team of their own corporate lawyers to write the text of bills)..

Government tends to make decisions based on political needs, it go well beyond corporations buying access. The WA delegation will try to push things that benefit Aerospace and Software companies, the Iowa delegation will push agriculture and so on. It is inherent in government.

bobbler wrote:
I agree with thom, we should return to the tax system we had 30 years ago (before reagan)..

Reagan actually did greatly simplify it and filled in a lot of the corporate loopholes.

http://thinkprogress.org/2011/04/18/ronald-reagan-corporate-tax/

 

Joe Hill Heartl...
Joe Hill Heartlanders's picture
Make 'em pay their share now!

Make 'em pay their share now! Time to Get Even!

Check out the latest protest song from  The Joe Hill Heartlanders
urging all middle class workers to "Get Even!"

You can listen, view and download "Get Even!" free at:

http://www.mikekonopka.com/geteven.htm

Stay strong and "Get Even!"

The Joe Hill Heartlanders

Randy95023
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My Sister in-law and my

My Sister in-law and my Sister are both CPA's and I've got degrees in Business Management and Economics.  We've all had our degrees for 30+ years so we discuss from years of experience and not just from academia.  Any tax "loophole" is simply something that should be illegal but has not yet been codified.  Running out of "easy" loopholes the Corporations, in their never ending quest to avoid taxes, have found some loopholes that require overseas operations (on paper at least).  Whenever you find a "loophole" use the hell out of it for the time remaining while it is still legal!  After studying Business Law for a year, back in the 70's, I realized that to manage the money of a Corporation you must have NO ethics and be a Sociopath when it comes to money.  If it's NOT illegal, then it IS legal and "right" and "wrong" are words that are not found in Accounting or Legal texts.  If you insist on being "moral" and using words like "right" and "wrong" you must go cross campus and take philosophy because morals and ethics are ephemeral emotions that don't apply to Taxes, Accounting, or Business Law.  If a Corporation is a person, then that person would have to be a Sociopath by definition...

Peace, Randy

 

D_NATURED
D_NATURED's picture
Randy95023 wrote: My Sister

Randy95023 wrote:

My Sister in-law and my Sister are both CPA's and I've got degrees in Business Management and Economics.  We've all had our degrees for 30+ years so we discuss from years of experience and not just from academia.  Any tax "loophole" is simply something that should be illegal but has not yet been codified.  Running out of "easy" loopholes the Corporations, in their never ending quest to avoid taxes, have found some loopholes that require overseas operations (on paper at least).  Whenever you find a "loophole" use the hell out of it for the time remaining while it is still legal!  After studying Business Law for a year, back in the 70's, I realized that to manage the money of a Corporation you must have NO ethics and be a Sociopath when it comes to money.  If it's NOT illegal, then it IS legal and "right" and "wrong" are words that are not found in Accounting or Legal texts.  If you insist on being "moral" and using words like "right" and "wrong" you must go cross campus and take philosophy because morals and ethics are ephemeral emotions that don't apply to Taxes, Accounting, or Business Law.  If a Corporation is a person, then that person would have to be a Sociopath by definition...

Peace, Randy

 

Well said, Randy. If you listen to the defenders of greed, they will tell you that there is nothing immoral about profits. Of course, they don't want any of the details about how those profits were earned, making it inherently immoral.