66 Precent of US corporations pay no taxes

[Anonymous]

Wow what should happen to these corporations? Should they be allowed to lobby?
Bank of American has profits of $4.1 billion and pays no taxes

[Anonymous]

Which is why the politicians are hell bent on destroying unions & collective bargaining...get with it, it is the middle class that is bleeding this country dry.

Is you believe that, then you'll probably chalk it up to the liberal mainstream media!

[Anonymous]

Most corporations are s corps . All the profit is taxed as Regular income not corporate profit. The large corporations make profits that are first taxed with corporate taxes, then when the profit is distributed to the stockholders ( you/me/teachers pensions/Mom and pop/ firefighters pensions/president obamas blind trust/ Al Gores Sex poodle massage fund) they are taxed again. Double taxation is one of the things driving business And jobs elsewhere.

[Anonymous]

Anonymous wrote:Wow what should happen to these corporations? Should they be allowed to lobby?
Bank of American has profits of $4.1 billion and pays no taxes

. I think they should all be supported by the government like BOA. Make all the jobs union, then make crappy products like GM .

[Anonymous]

Yep the unions are the cause of everything. Management just shows up and collects a check. When products fail, oh the unions did it to us again. Hopefully, those design, it, engineering, accounting and legal jobs can be done in India. I think a cpa gets $30k a year.

[Anonymous]

So Bank of American, Exxon, GE are all s corps? The bigger the corporation, the less likely to pay corporate taxes.
The corporate and the shareholder are separate entity. Therefore, there can not be double taxation.

[Anonymous]

Anonymous wrote:So Bank of American, Exxon, GE are all s corps? The bigger the corporation, the less likely to pay corporate taxes.
The corporate and the shareholder are separate entity. Therefore, there can not be double taxation.

that's how the government taxes the same profit twice.

[Anonymous]

Right now, union employees have pensions, decent wages/benefits, etc. Most employees do not.

The Tea Partier outrage seems to be that some working people have it better than others, instead of most working people getting steadily nickel and dimed. Instead of, "Hey, how can we get more workers all these benefits?" it's, "Hey, how can we eliminate the excess pay union workers are getting?" or Schadenfreude over union workers having to get cutbacks.

I mean, seriously, they're showing more outrage over some union worker making $60k a year than over CEO/worker ratios going from 40:1 to 400:1 over the past 50 years.

I just don't get it.

[Anonymous]

OP, citation please? I find it very difficult to believe that is actually the case as a general matter. In the short term, I suppose it is possible given the significant losses many businesses have taken due to the recession.

[Anonymous]

I am not the op but I found this article which cites a GAO study covering '98-'05 before the meltdown.

http://money.cnn.com/2008/08/12/news/economy/corporate_taxes/

[Anonymous]

The way you can tell it isn't true is that no companies are flocking to the U.S. and no new factories are opening up. However you want to categorize it, companies are leaving to go where they can be best rewarded for their production with safety and security.

[Anonymous]

That's interesting. The figure given in that GAO report for "large" corporations is 25%, not 66% (66% is the figure for all corporations), and 25% makes a lot more sense to me, at least for the kinds of corporations I was thinking about and which OP referenced. I was wondering where the larger number came from.

[Anonymous]

Either way it is pretty bad.

[Anonymous]

I blame NAFTA. Corporations are flocking to where labor is cheap.

[Anonymous]

Good question. Was that Clinton or Bush and how are we in the aftermath?