revenant

tommikele said:

anonymouse said:

Yeah, the Samsung Trade Commission. A lot of regulations coming out of South Korea lately that seemed designed primarily to kneecap Apple and Google and promote Samsung. Perhaps it's time to send them a bill for the protection by US military forces.

That is just a dumb comment based on excessive Apple fanboism and nationalistic BS.

BTW, South Korea pay the US billions for military presence of the USA. There is legit discussion over whether it should be more, but the deal was renegotiated about two years to significantly increase what they pay.

Have some facts and knowledge before you spout off.

davidw said:

revenant said:

If a company did not legally pay any corporate taxes, then they legally did not make any profit. Show me otherwise. You make seem as though companies are not paying any taxes on their reported profits. Corporate tax is a tax on profits, not revenue. It's no different than personal income tax, where only the income after any legal deductions, is taxed. And that income can be reduced to less than the minimum taxable amount, with enough legal deductions.  

And every taxpayer should use all their legal deductions, to reduce the taxes they pay. Even if it ends up being zero. It doesn't get more American than that.  

Just because a company had billions in revenue, it doesn't mean that they will have any taxable profit. 

By far, the biggest contribution any corporation (large and small) can make toward the government tax revenue is the creation of jobs. Income tax and payroll tax accounts for over 85% of the 2020 $3.4T Federal tax revenue. (50% income and 35% payroll) Corporate tax historically contribute about 7%to 9%.

Small businesses accounts for about 64% of new jobs every year. Big corporations on the other hand, accounts for 36% of new jobs every year.  But 99.7% of all businesses are "small businesses". Only .3% of all businesses are big corporations. So .3% of all businesses, accounts for 1 in every 3 new jobs every year.

Now of days, over 40% the people working, are working for a big corporation.

https://www.nysscpa.org/news/publications/the-trusted-professional/article/more-americans-work-at-big-firms-than-small-ones-040717

It is in the best interest of government to make sure that they do not tax big businesses, out of business. Losing the corporate tax is nothing, compared to losing the income and payroll taxes, when a big corporation goes out of business.  

Here's an interesting perspective from the liberal media, "The Atlantic"


https://www.theatlantic.com/magazine/archive/2018/04/learning-to-love-big-business/554096/

maestro64 said:

revenant said:

maestro64 said:

WOW, someone who understands how the systems works. Only correction, most high income earners have some ways to shelter some of the income from taxes, but those shelters were created by the government and the same people today complaining everyone is not paying their fair share. For those who do not understand this you need to put on your ignorance hat. 

BTW, In 2020 61% of the citizen of this country did not pay any Federal income taxes, This mean that 39% of the balance of people and companies paid all the taxes that run the county. If you are talking about everyone paying their fair share, why aren't people complaining about the 61%, they also benefit from all the services the government provides.

yes, but how many companies did NOT pay taxes? it reads as if you are against those who are receiving help from the government--as if all illegitimately. how many companies were looking for a new/another headquarters and were receiving low to no taxes for first 10 years? also, if you look at consumptive tax, poorer people pay more in percentage than their wealthy counterparts and that small percentage is a big deal if you make little. there are too many tax loopholes that make it easy to hide money and (I could be wrong) it is probably because a great many in the halls of government are using these loopholes themselves or are heavily funded by companies/individuals who use these loopholes. 
in tandem with a tax overhaul there needs to be an audit of government waste. 

Let separate Local from Federal and when Local governments do one time things to incentivize companies to move or grow in their local economy is not the same what the Feds are doing. Those are no a gift that keeps giving forever. Next, it is not most companies who do not pay federal taxes, most are paying federal taxes on the remaining profits (they are not taxes on total sales which people think is the case, unlike your salary which is taxed on the total, well not true, you now get to deduct your 401k and Health care costs). It is a small number of high profile companies people pick out to represent the whole who are paying little to no taxes. Again they do not pay because of tax laws writing by the complainers who say Companies are not paying. You see how this works, they pass a law which reduces taxes companies and people pay then use a campaign slogan against those who benefitted to get reelected. As long as a company is not showing profits they do not pay taxes, go take an accounting class and you will find out why this is the case. Yes companies know many ways to show they are not making profits again this got back to the tax laws and the people who wrote them.

Actually I am very much an advocate of a flat tax, I feel the tax everyone pays should help everyone, for things like infrastructure. I also believe you do not have right to say how the money is being allocate if you did not pay in. Do you allow your kids in your house tell you allow to allocate house hold income.  Everyone should pay a flat amount every year with no deductions. We got half way there with the last tax law, it limited total amount of deductions, you are caped at $24K if married unless you give away lots of my money each year. In the past anyone making a reasonable income could write off a lot more than $24K and reduce their federal tax burden by a lot, some people pay little to no federal taxes but paid lots of local taxes. Even though the GDP in the US in 2020 droved significantly, meaning companies and individuals made less overall, the Federal government collect more taxes for 2020 than they did in 2019, why, the people on the higher end were forced to pay more. This was due to the change in tax laws, notice the people in government are not screaming as much about the rick not paying their fair share.

You are correct someone making $50K paying 10% taxes, which is $5K means more to them than someone making $500K and paying $50K in taxes, however, what you failed to see if the $50K represents 10 people making $50K and that one person taxes does more than the $5k one person is making. You do realize as % of their incoming they both pay 10%, it not the fact that poor are paying more, it is the fact poor people have the same basic living costs which use up the other portion of their income just to live, verse the other person has a lager $ amount of disposable incoming to by other things.  But that does not mean the person making $50K should not pay, and they somehow deserve not to share in the burden of the system that supports everyone equally. Remember roads, sidewalk, water and sew system, police, fire, and list goes on has no way to discriminate. However, as soon as the system start picking who should and should not get services or who has to pay taxes the person making the decision can discriminate and it happen more times than not. 

BTW, when the Fed does not have enough Tax money to pay for all their great ideas they just have the Treasury print more money, which devalues the currency and make what you buy cost more. This is why Roosevelt took the US off the gold standard for our currency. It did not allow him to print money to pay for all his bad ideas which we still paying for today. This alone make is hard for lower income individual to have better things not how much they get paid. 

maestro64 said:

WOW, someone who understands how the systems works. Only correction, most high income earners have some ways to shelter some of the income from taxes, but those shelters were created by the government and the same people today complaining everyone is not paying their fair share. For those who do not understand this you need to put on your ignorance hat. 

BTW, In 2020 61% of the citizen of this country did not pay any Federal income taxes, This mean that 39% of the balance of people and companies paid all the taxes that run the county. If you are talking about everyone paying their fair share, why aren't people complaining about the 61%, they also benefit from all the services the government provides.

dope_ahmine said:

dewme said:

crowley said:

dewme said:

At some point the cost of doing business in the EU with its parasitic taxation schemes, intrusive oversight, and blatant protectionism may inspire global players to simply take a pass on dealing with any of it at all. 

Of course it won't.  Money talks and bullshit walks and there's too much money to be made in the EU for Apple or any other company to give even passing consideration to quitting it altogether.  This is a fantasy that far too many people on this board indulge in.  It won't happen.

Wishful thinking perhaps, but let’s see what 6 or 7 more years of shrinkage and decline yields. Having traveled on business around the world there is definitely an air of growth in some parts of the world and an air of decline in others. Hopefully publicly owned global companies will continue to focus on growth markets and growing economies. 

Whether EU is a declining or growing market is as irrelevant to the commission’s investigation as the EU’s capacity to innovate. Stop throwing crap in here, and start arguing.