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And this surprises you?

Two thirds of US corporations don’t pay federal income taxes. That’s because they have entire tax departments and consultants that work to make sure that happens.

Posted in uncategorized on April 13th, 2016 by SayUncle | RSS 2.0 |

8 Responses to “And this surprises you?”

  1. JTC Says:
    April 13th, 2016 at 4:29 pm

    Not because a corp’s profits and taxes pass through to shareholders?

  2. Fred Says:
    April 13th, 2016 at 8:57 pm

    JTC – Yep, they all pay zero taxes. Oh, the taxes get paid though. They just raise prices to match the tax rate. Most s&P 500 co’s target for an 8 to 10 percent profit. The good co’s will stash some for downturns but most of it gets re-invested right back into new products, services and finding new customers. By gov submitting to their lobbying they are merely allowing a disproportionate amount of the co’s taxes to be paid by wage earners, who might not even use the product or service, in the form of income taxes. Want to hurt companies? you’re an idiot, it’s your money that you want the gov to steel. This is eighth grade stuff.

  3. JTC Says:
    April 13th, 2016 at 9:33 pm

    Fred, rhetorical question for the host, who’s a CPA, but doesn’t “do taxes”.

  4. SPQR Says:
    April 13th, 2016 at 11:26 pm

    It doesn’t say that the number excludes Subchapter S corps which would not pay taxes regardless, being pass-through entities.

  5. JK Brown Says:
    April 14th, 2016 at 12:14 am

    Well, first off, a corporation may not make a profit every year, so nothing to tax. Then they do take advantage of lots of social engineering in the tax code to spend or invest in ways that are tax advantaged. So while this is an old complaint, it mostly reveals economic ignorance.

    First of all, in the legislation concerning income taxes, the law-giver calls salaries and wages “income” or “earned income.” However, the main characteristic of “income” in the economic sense is that it is that surplus over a businessman’s costs that may be consumed without reducing capital, i.e., without living at the expense of the future. You cannot consume “income” without deteriorating your opportunities for future production. The concepts of “capital” and “income” developed only within the system of economic calculation.

    These income-tax laws also deal with “profits” as if they were salaries. The income-tax authors are very astonished if a firm doesn’t have a profit every year. They don’t realize that there are good years and bad years for an enterprise.

    von Mises, Ludwig . Marxism Unmasked (LvMI)

    The truth is, every bit of “income” paid in taxes is money that is taken away from maintaining or expanding the business. It is consuming productive capital by current government consumption.

  6. qmony Says:
    April 14th, 2016 at 1:15 am

    A majority of “regular” citizens also do not pay any federal income tax. Then they vote themselves more of the actual taxpayer’s money.

  7. mikee Says:
    April 14th, 2016 at 8:09 am

    Ever since the tax system became a means of promoting specific behaviors and penalizing other specific behaviors, by both individuals and business entities, gaming the system to pay the least taxes possible (while not *avoiding* tax payments, which is against the law) has been a perfectly legal and valid exercise in fiduciary responsibility.

    If you don’t like that game, pay more taxes than you owe, or shut the hell up, or lobby to change the laws so taxation is more rational and less political.

  8. Fred Says:
    April 14th, 2016 at 1:40 pm

    JTC – My rant was not directed at you. I was trying to agree but, I get pissed off at people wanting to take somebody else’s money so I just keep going.

    Fuck is wrong with this country? It is covetous and envious and reflects deeply on the condition of the person’s soul who is the taker. It’s sick.

    I DON’T WANT SOMEBODY ELSE’S MONEY. I WANT MY OWN.

Remember, I do this to entertain me, not you.

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