What US corporation made $11 Billion in net profit and not only didn't pay any taxes, they got a $129 Million rebate from the government?
How can this be justified?
by 
Roaring
ANSWERS: 4
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We all know it's Amazon. Second year in a row they didn't pay corporate income taxes. Although I agree it's crazy, most people also forget that they do pay property taxes, employee payroll taxes along with a myriad of others. Not to mention the other businesses that they support down the food chain. $0 corporate tax is crazy, but if they had to pay billions, they might not reinvest all that, which is what they do now.
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Wakko ...all on the shoulders of the lower class. You can say "middle" all you want, but I'll be damned! -
Archie Bunker Please explain how this is on the shoulders of the lower class. -
Wakko Please explain to me how it's not. Incentives are thrown at the middle class to start small businesses. Where are incentives for lower class to pull ourselves up. We're being taxed to fucking death while the GD fatass politicians and rich folks with big companies don't pay a damn thing. Also, do you not know "lower class" is the bottom of the poop-pit under the outhouse? Yep, we catch ALL the shit. My taxes keep going up on property I OWN every fucking year (currently $1700/year for one MFing acre), while scam artists (middle class) all around me with 10 acres, 2 dogs, and a goat are tax exempt. So please, DO tell me how you have it so much worse than the lower class. Not everyone who is lower class is there by choice.
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Archie Bunker I pay property taxes, Wakko. As do almost every property owner, businesses included. And the nice thing about the way our society works is, if you're unhappy with your property taxes, talk to your local politicians. Or move. No one is forcing you to stay there. You can look at the property taxes and the incentives (which are available to almost anyone) in different areas. If the property taxes are too high in New York or San Francisco, you're free to leave, as many are doing. Business incentives are dependent. You might not qualify for some. There are incentives that are available to women only. Blacks only. Latinos only. There are incentives available if you want to start a certain kind of business. If you're a white dude living in Wyoming, there might not be a business startup incentive for you if you want to start a basket weaving class. But there might be. You'd have to go somewhere where that incentive is. And if you want to talk about federal income tax, the Joint Committee on Taxation is pretty clear. The top 1% paid more in federal income tax than the bottom 90% combined.
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Archie Bunker .
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Wakko nope
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Wakko !
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Linda Joy I'm financially disadvantaged. I live on $771. a month. Because of my low income I only pay $215 a month for rent and that includes my power and water at this point. I might be able to get a tax refund if I filed without ever paying anything in that year, but I don't. I don't pay property taxes because I don't even own an acre anymore. I pay sales tax, phone and internet taxes. So if you're poor enough you actually get a break. I somehow manage to actually save money and I've never had to go without anything I truly need to survive.
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Where's the love for Rick Perry's 20/20 plan - 20% personal, 20% corporate flat rate? There are two basic lines of thinking: either a flat tax with a large standard deduction (in the 30-50K range) and NO credits or keep all the deductions, but instead of limiting them with a hurdle to cross, phase them out by income. Warren Buffett still says his marginal tax rate is lower than his secretary's.
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Archie Bunker
I'm all about a flat tax. Flat tax by the federal government. 10% is plenty. And the states should be left up to do things how they want. But, when the states like Illinois spend more than they bring in, they should not rely on the federal government (taxpayers from other states) to bail them out. Illinois is the perfect example. They have their economy so f*cked up there, if they were a regular business, they'd be insolvent. -
mushroom
Top 5 States Dependent on Federal Aid: 1 New Mexico 2 Mississippi 3 Kentucky 4 West Virginia 5 Alabama Bottom 5 States:46 Illinois 47 Utah 48 New Jersey 49 Delaware 50 Kansas https://wallethub.com/edu/states-most-least-dependent-on-the-federal-government/2700/#main-findings
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Have you asked your political representatives about this? Have you written them? Have you ever run for political office? What are YOU doing to change it? I'd say its justified (an accounting term, btw) by the law and a team of very savvy tax lawyers! Its not like they're illegally smuggling criminals into the country or killing babies. They are simply using tax laws to their advantage. I call it near genius business management. Perhaps you should just buy stock and use the dividends to make up the difference on your taxes! lol
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no idea
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