PromoTheRobot Posted February 26, 2011 Share Posted February 26, 2011 Isn't "entertainment" only 50% deductible, versus just about every other expense at 100%? I mean, businesses are still supposed to pay taxes on their profits, no? And yet... PTR Link to comment Share on other sites More sharing options...
KD in CA Posted February 26, 2011 Share Posted February 26, 2011 And yet... PTR And yet what? You won't hear any argument from me that our elected leaders should not pass laws that specifically exempt big companies or big unions (I've yet to hear you complain about that) from being subject to the same laws as everyone else. Of course, unlike a lot of people I realize that not every company makes a profit every year. Hence, statistics like "OMG....57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005!!!!" are complete nonsense regurgitated by people that don't have a clue. Link to comment Share on other sites More sharing options...
nedboy7 Posted February 26, 2011 Share Posted February 26, 2011 Look at you stupid pawns defend corporations from getting taxed. They sure know how to play dummies. You idiots can barely make an intelligent argument involving football. When you start talking economics on this page you really got a problem. Link to comment Share on other sites More sharing options...
Mr. WEO Posted February 26, 2011 Share Posted February 26, 2011 Put another way, you find it outrageous that 57% of US companies had at least one unprofitible year between 1998 and 2005? Shocking! You'd have thought there was a tech slowdown or a national calamity or something. I thought companies were money making machines... Seriously, do you know what the tax bill is supposed to be when you don't make money? Or do you believe companies always make a profit every year? And yet what? You won't hear any argument from me that our elected leaders should not pass laws that specifically exempt big companies or big unions (I've yet to hear you complain about that) from being subject to the same laws as everyone else. Of course, unlike a lot of people I realize that not every company makes a profit every year. Hence, statistics like "OMG....57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005!!!!" are complete nonsense regurgitated by people that don't have a clue. Yeah, I think we all get that not every company makes a profit every year--thanks anyway. In 2002-2003, 275 of the Fortune 500 made a profit (0ver 100 billion total). 82 0f those paid 0 or less in federal taxes. The average of all was less than half of the 35% statutory rate. These are not moms and pops. Seriously, I think you understood the point being made. Drop the corporate rate, eliminate loopholes. If you make no profit, you pay no taxes. But you deduct no losses either--let the market decide your company's fate. Link to comment Share on other sites More sharing options...
billsfan89 Posted February 26, 2011 Share Posted February 26, 2011 If you are going to cry poverty to a federal mediator you should have to open your books. I for one can't stand both sides on the labor dispute as the owners are crying poverty but refuse to open their books (Looks like they are hiding something) while the players are coming off of a huge CBA victory in 2006 and don't get the fact that they are likely going to have to open themselves up to compromise. Yeah, I think we all get that not every company makes a profit every year--thanks anyway. In 2002-2003, 275 of the Fortune 500 made a profit (0ver 100 billion total). 82 0f those paid 0 or less in federal taxes. The average of all was less than half of the 35% statutory rate. These are not moms and pops. Seriously, I think you understood the point being made. Drop the corporate rate, eliminate loopholes. If you make no profit, you pay no taxes. But you deduct no losses either--let the market decide your company's fate. Thanks to globalism the USA has actually cut corporate tax rates a lot in the last 60 years. Back in the 1950's the rate use to be close to 50% now its under 40%. But a lot of people argue that its not low enough due to China and India among other nations having corporate tax rates below 20%. I have been studying this issue in my economics class. There are two sides of discussion. One side wants to lower rates and give more tax exemptions while the other wants to heighten tariffs in a more protective manner and close loopholes (Only way you don't pay taxes is if you don't make a profit) while keep rates close to where they are. I haven't come down on either side but its probably one of the biggest issues as far as intercontinental economics goes. Link to comment Share on other sites More sharing options...
Mr. WEO Posted February 26, 2011 Share Posted February 26, 2011 If the players don't know what's in the books, how, exactly, did they "get" 59.5% of all revenue in the last CBA? Link to comment Share on other sites More sharing options...
JohnC Posted February 26, 2011 Share Posted February 26, 2011 If the players don't know what's in the books, how, exactly, did they "get" 59.5% of all revenue in the last CBA? Knowing the revenue level doesn't tell you what the profit level is. Link to comment Share on other sites More sharing options...
spartacus Posted February 26, 2011 Share Posted February 26, 2011 Knowing the revenue level doesn't tell you what the profit level is. I think the point was how did the players ever manage to agree to 59% in the last round of negotiations without seeing the books. Link to comment Share on other sites More sharing options...
Geno Smith's Arm Posted February 26, 2011 Share Posted February 26, 2011 Look at you stupid pawns defend corporations from getting taxed. They sure know how to play dummies. You idiots can barely make an intelligent argument involving football. When you start talking economics on this page you really got a problem. I am having a hard time believing it myself. "Stop picking on the conglomerates! They want what's best for everyone!" Link to comment Share on other sites More sharing options...
Geno Smith's Arm Posted February 27, 2011 Share Posted February 27, 2011 The obvious goal should be to create good paying jobs so that the people who aren't paying Federal taxes would be paying them. The simple solution would be to bring back the millions of jobs shipped overseas,and pay the workers a living wage. Oh yeah. Goods will be more expensive,but not necessarily outrageously so. The fact of the matter is that corporations are not satisfied with a 'good' profit.They want an obscene profit.In Germany, right now, there is a labor shortage. You know. Germany. A country that pays high wages,and has great benefits, and FREE health care for its citizens. All this talk of 'we're broke' would've never happened if we didn't send the bulk of our wealth overseas over the last few decades so a few thousand fat asses could make billions while the middle class lifestyle becomes more of a joke day, by day.. We are bankrolling China's future domination of the world economy,and the collapse of our economy in the name of GREED......... This seems so obvious, but I think many people have chosen a political party, and whatever the platform of that party is, they will stick with it. Probably because they don't want to admit their chosen party is full of $%^#. Many people consider their party choice a way of life, and have developed an identity that conforms to their party's doctrines. To admit the party is corrupt or misguided would be too damaging to their self-image. (this can be applied to either of the dominate political parties. I think they are 2-sides of the same coin myself) I have no doubt that if (or when) they were able to, the corporate would turn every city into a updated version of the old mining town. Everybody know about those? The company would own the homes, own the local businesses, and of course, control the wages. Indentured servitude (the modern version would allow you to have big screen plasma televisions, and a wide variety of inexpensive Chinese "leisure goods"to dull the senses) was common (not so different from the current credit system), and everyone was trapped. There are people that post on this board that want the day after the Super Bowl to be declared a national holiday. Link to comment Share on other sites More sharing options...
Spiderweb Posted February 27, 2011 Share Posted February 27, 2011 Put another way, you find it outrageous that 57% of US companies had at least one unprofitible year between 1998 and 2005? Shocking! You'd have thought there was a tech slowdown or a national calamity or something. I thought companies were money making machines... Seriously, do you know what the tax bill is supposed to be when you don't make money? Or do you believe companies always make a profit every year? A rather poor attempt at spinning the issue. Reasonably well run companies do make profits year in and year out. Sure, they're are some exceptions from time to time, but profitable years far exceed non-profitable years. I could have cited others, but I began with Exxon and GE both as as having not paid any income taxes, while being very profitable, and even worse, GE claimed 1.1 Billion in credits. Yes I have issue with this. I also have issue with "trickle down" economics, often spoke of in years past as Voodoo Economics, Regan-nomics, those very same policies championed by our own Jack Kemp (may he rest in peace). Promises of greater profit to a company, leading to or because of greater productivity, resulting in better wages for the employees simply has never materialized. Those dollars were totally absorbed by the top 1-3% of the income earners. The middle class over the past thirty five years or so has lost more than a hundred dollars a week in inflation adjusted wages. It's long past overdue to put this myth to rest. I would also submit it's long overdue to put another myth to rest, which is that the top 1% are the job creators and we must ensure they get tax breaks to spur employment growth (thru investments of the top %). That as well as not worked. We do however have many jobs in both manufacturing. software, and services that have been shipped overseas eliminating jobs for USA citizens. Again, the only profiteers of this has been the top 1% or thereabouts. When a nation's top employer is Wal Mart, low wages, very limited benefits to no benefits, it is not signaling good times for the huge majority of citizens. Link to comment Share on other sites More sharing options...
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