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d2jsp Forums > Off-Topic > General Chat > Political & Religious Debate > "corporate Tax Avoidance Remains Rampant" > Article By Itep
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#1
Apr 16 2019 01:42pm
https://itep.org/notadime/

Quote (from the article)
For decades, profitable Fortune 500 companies have manipulated the tax system to avoid paying even a dime in tax on billions of dollars in U.S. profits. This ITEP report provides the first comprehensive look at how corporate tax changes under the 2017 Tax Cuts and Jobs Act affect the scale of corporate tax avoidance. The report finds that in 2018, 60 of America’s biggest corporations zeroed out their federal income taxes on $79 billion in U.S. pretax income. Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate, these companies enjoyed a net corporate tax rebate of $4.3 billion.


One word: disgusting.
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#2
Apr 16 2019 01:49pm
Quote (BrendanSchaub @ Apr 16 2019 03:42pm)
https://itep.org/notadime/



One word: disgusting.



And US congress won't do a damn thing. Hey at least they're not Moldova : https://en.m.wikipedia.org/wiki/Moldovan_bank_fraud_scandal

That GDP all gone lmao.
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#3
Apr 16 2019 01:56pm
you can have an opinion one way or the other about writing off automation R&D as a loss but it's context you need to understand how they're zeroing out so effectively.

it counters the narratives that they donate to get to zero so it's a good thing, and it counters the narrative that it's all fudgy accounting. they buy new machines, new buildings, etc. and we all pay for it.

Quote (EndlessSky @ Apr 16 2019 01:58pm)
Tfw when someone is arguing that Trump should be in control of more of their money.


the budget is written by congress and Trump can't control his own department heads, thus the turnover.

This post was edited by thesnipa on Apr 16 2019 02:01pm
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#4
Apr 16 2019 01:58pm
Quote (BrendanSchaub @ Apr 16 2019 02:42pm)
https://itep.org/notadime/

One word: disgusting.


Tfw when someone is arguing that Trump should be in control of more of their money.
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#5
Apr 16 2019 03:29pm
Why isn't this front page news everywhere?
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#6
Apr 16 2019 03:36pm
Quote (BrendanSchaub @ Apr 16 2019 03:29pm)
Why isn't this front page news everywhere?


Because corporations have never paid much. That's the basis of trickle down. No taxes, more jobs. That is how corporations support society, not taxes. This is a marginal downturn and not without precedent
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#7
Apr 16 2019 04:34pm
Quote (thesnipa @ Apr 16 2019 10:36pm)
Because corporations have never paid much. That's the basis of trickle down. No taxes, more jobs. That is how corporations support society, not taxes. This is a marginal downturn and not without precedent


This isn't a case of a low tax and corporations paying it.
It's a case of them avoiding paying taxes like the plague and getting ridiculous rebates on top of that.

This is a major problem, imo.
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#8
Apr 16 2019 04:46pm
Quote (BrendanSchaub @ Apr 16 2019 04:34pm)
This isn't a case of a low tax and corporations paying it.
It's a case of them avoiding paying taxes like the plague and getting ridiculous rebates on top of that.

This is a major problem, imo.


Yes. I've been taking about rnd taxes for years I happens all the time
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#9
Apr 16 2019 04:47pm
Quote (thesnipa @ Apr 16 2019 04:36pm)
Because corporations have never paid much. That's the basis of trickle down. No taxes, more jobs. That is how corporations support society, not taxes. This is a marginal downturn and not without precedent


Trickle down is a democrat idea designed to fan hatred against the wealthy
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#10
Apr 16 2019 04:48pm
Quote (thesnipa @ Apr 16 2019 11:46pm)
Yes. I've been taking about rnd taxes for years I happens all the time


I don't doubt that it does. In fact, I'm sure of it.

Any insights in to how to fix this glaring problem, brother?
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