Corporations are paying less in taxes in America than they’ve paid in 40 years!

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Pay no attention to the lies already coming from the Right – corporations are paying less in taxes in America than they’ve paid in 40 years. According to the Congressional Budget Office – despite American corporations making enormous profits last year – their second best in a generation - they paid on average only 12.1% in federal taxes. That’s far below the 35% corporate tax rate that Conservatives claim is crippling business in America. At 12.1%, American corporations are paying the lowest taxes in the entire developed world.

It’s also a staggering drop off since the last quarter century – between 1987 and 2008 – when corporations paid on average a 25.6% corporation tax rate. When corporations and the very, very wealthy aren’t paying their fair share in taxes, then working people have to pick up the slack. That’s exactly what’s happened in recent years – and one reason why the United States has one of the highest level of wealth inequality in the developed world – and why the middle class is disappearing right in front of our eyes.

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Gambling at Rick's! Once again, I am shocked!

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DRC
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Jul. 31, 2007 4:01 pm

It seems to me that the powers that be are very content with dems and repubs gnashing teeth over tax rates in order to keep the focus off of the loopholes. In reality the loopholes are what count because the effective tax rate seems to keep dropping year after year no matter what the actual tax rate is. Anyone can game the system but it's the wealthy who can afford to game it to the lowest penny and they are doing just that every year. How do we fix that? Well, by cutting back on spending of course.

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Bush_Wacker
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Quote DRC:

Gambling at Rick's! Once again, I am shocked!

Yep, but still taxed at the highest rate in the world. We have a lot of work to do if we want them to start hiring More Americans.

If we raise their taxes even more, who pays? You or them?

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rigel1
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Jan. 31, 2011 7:49 am

Come on rigel, you're a smart guy. You know that any expenses, including taxes are ultimately passed on to the "help". So to answer your question, if we raise their taxes even more then in the end we pay for them. We need a system that doesn't allow that.

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Bush_Wacker
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Quote Bush_Wacker:

Come on rigel, you're a smart guy. You know that any expenses, including taxes are ultimately passed on to the "help". So to answer your question, if we raise their taxes even more then in the end we pay for them. We need a system that doesn't allow that.

The tax system needs to be simplified. Loop holes closed. Most conservatives and liberals agree on the this.But we cannot stop finger pointing and insulting each other long enough to do the things we agree on. The tax system is overly complicated by design. They don't want it to be simple enough for us to understand. It's not even simple enough for them to understand. I would pass a law stating that the federal code cannot be more than 100 pages. 100 pages is enough to collect revenue.

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rigel1
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Jan. 31, 2011 7:49 am
Quote rigel1:
Quote Bush_Wacker:

Come on rigel, you're a smart guy. You know that any expenses, including taxes are ultimately passed on to the "help". So to answer your question, if we raise their taxes even more then in the end we pay for them. We need a system that doesn't allow that.

The tax system needs to be simplified. Loop holes closed. Most conservatives and liberals agree on the this.But we cannot stop finger pointing and insulting each other long enough to do the things we agree on. The tax system is overly complicated by design. They don't want it to be simple enough for us to understand. It's not even simple enough for them to understand. I would pass a law stating that the federal code cannot be more than 100 pages. 100 pages is enough to collect revenue.

/agree

I wonder where else in the world you have to have a accountant or buy a software program (not mentioning brands) to do your PERSONAL taxes CORRECTLY...

That tax code is a monstrousity for the reasons you mention and we can thank the myriad of corporate lobbyists that both wings of that corporate party known as the Republicrats cannot end their insecestuous relationship with.

Dominic C
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Jun. 27, 2011 10:39 am

There is no Progressive Caucus on the Right. There is the solid sold-out GOPimps and the divided Progressive/Corpadem Center. When we duopoly studies, try to get the nature of the beast correct.

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DRC
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Quote Bush_Wacker:

if we raise their taxes even more then in the end we pay for them.

Taxes on corporate profits are paid by corporate shareholders.

chilidog
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Jul. 31, 2007 4:01 pm
Quote chilidog:
Quote Bush_Wacker:

if we raise their taxes even more then in the end we pay for them.

Taxes on corporate profits are paid by corporate shareholders.

Yep and they really hate paying. So they offset the cost of business by raising the price of the product.

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rigel1
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Jan. 31, 2011 7:49 am

Another Rightwing myth disproved by the facts of commerce. Record profits do not mean lower prices to reflect the lower cost of doing business or making the product. Higher taxes would not mean higher prices for the same reason, only less skimmed off the top and put into the wealth glut of the elites.

If you cannot learn anything by posting here, please stop wasting our time. This stuff is basic bad con talking point nonsense. It is hard to respect you for continuing to be this ignorant or stupid.

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DRC
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Jul. 31, 2007 4:01 pm
Quote DRC:

Another Rightwing myth disproved by the facts of commerce. Record profits do not mean lower prices to reflect the lower cost of doing business or making the product. Higher taxes would not mean higher prices for the same reason, only less skimmed off the top and put into the wealth glut of the elites.

If you cannot learn anything by posting here, please stop wasting our time. This stuff is basic bad con talking point nonsense. It is hard to respect you for continuing to be this ignorant or stupid.

More taxes doesn't neccesarilly mean higher prices but it does get passed on to employees in many different way. Wage freezes, cut backs or elimination of bonuses and commisions etc. Corporations do not simply eat it when it comes to tax hikes or increased expenses. I know, I've lived through that more than once.

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Bush_Wacker
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Jun. 25, 2011 7:53 am

There's a difference between tax hikes and increased expenses. Yes, expenses have to be recouped from the consumer: higher utilities, higher insurance, higher rent... higher property taxes, higher payroll taxes, higher utility taxes. Income taxes, taxes on profits after all expenses, are borne by the shareholders.

chilidog
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Jul. 31, 2007 4:01 pm

Corporations may not pay much in taxes, however if you do decide to business in America you are subjected to all kinds of regulations, fines, and "inspections" that are designed to give outsourcing corporations the economic advantage.

Corporations are not paying taxes in America cuz they are allowed to claim a mail box in Virgin Islands their Corporate Head Quarters.

All by Globalist design to kill American businesses.

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antikakistocrat
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Apr. 18, 2012 3:41 pm

"Writing about the “unfairness” of the tax code is classic magician’s misdirection. Get people talking about raising taxes on the rich and they’ll miss the whole point. Federal taxes on the rich are not too low. It’s the federal taxes an the non-rich that are too high. When people fret about rich people’s taxes, they forget about their own taxes." from

–The art of misdirection: How to keep the 99% in bondage, by seeming to punish the 1%. « #Monetary Sovereignty – Mitchell

–Monetary Sovereignty for young people: 1 « #Monetary Sovereignty – Mitchell

–Nine steps to prosperity; a short message to #Occupy Wall Street « #Monetary Sovereignty – Mitchell

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pshakkottai
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Jul. 11, 2011 11:27 am

If corporate taxes were paid by consumers, would big business be fighting and bribing to lower taxes on consumers?

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