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WSJ_hp_LEFTWhatsNewsCollection Published: Feb 3, 2012 Author: DAMIAN PALETTA Post Date: 2012-02-03 11:46:20 by Brian S Keywords: None Views: 2994 Comments: 10 BY DAMIAN PALETTA WASHINGTON—U.S. companies are booking higher profits than ever. But the number crunchers in Washington are puzzling over a phenomenon that has just come into view: Corporate tax receipts as a share of profits are at their lowest level in at least 40 years. Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That's the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008. Corporate income-tax receipts typically fall during recessions, Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest #1. To: Brian S (#0) There is no such thing as a corporate tax. Businesses don't pay taxes. Tag line: I wuz HACKED, cuz I SAY so! (Boris Y) "I'd vote for obama" (Mad Dog, Paul voter) IF RonniePAULIE runs as a repukelican't, (OR even as a demonRAT), against the messiah "king" obammy; I'd vote FOR him. Wood_Chopper  posted on  2012-02-03   11:57:37 ET  Reply   Trace   Private Reply   #2. To: Wood_Chopper (#1) There is no such thing as a corporate tax. Businesses don't pay taxes. If that was true then there wouldn't be all this fuss over the corporate tax rate. But I will let you in on this little secret, not all businesses are corporations. Almost every country in the Middle East is awash in oil, and we have to side with the one that has nothing but joos. Goddamn, that was good thinkin'. Esso posted on 2012-01-13 7:37:56 ET mininggold  posted on  2012-02-03   12:11:44 ET  Reply   Trace   Private Reply   #3. To: mininggold (#2) But I will let you in on this little secret, not all businesses are corporations. If it walks like a duck, and quacks like a duck, it's a duck, no matter what some bullshitting professional liar, er ...lawyer, says. Businesses don't pay taxes. They merely ad them to the cost of their product. They just collect them from their customers. If that was true then there wouldn't be all this fuss over the corporate tax rate. The argument over the tax rate is to keep the rubes arguing about a phantom issue, thereby keeping them away from the real issue, mainly, THEY, not the business, are paying the taxes collected by business for the govt. I guess you could say they are a "govt tax", not a "corp tax" since the corps didn't institute them, govt did. Cracks me up when they can actually get people to DEMAND businesses pay more taxes, when it's actually coming out of the pockets of the very same people demanding it. Tag line: I wuz HACKED, cuz I SAY so! (Boris Y) "I'd vote for obama" (Mad Dog, Paul voter) IF RonniePAULIE runs as a repukelican't, (OR even as a demonRAT), against the messiah "king" obammy; I'd vote FOR him. Wood_Chopper  posted on  2012-02-04   1:33:09 ET  Reply   Trace   Private Reply   #4. To: Wood_Chopper (#3) The argument over the tax rate is to keep the rubes arguing about a phantom issue, thereby keeping them away from the real issue, mainly, THEY, not the business, are paying the taxes collected by business for the govt. I guess you could say they are a "govt tax", not a "corp tax" since the corps didn't institute them, govt did. Cracks me up when they can actually get people to DEMAND businesses pay more taxes, when it's actually coming out of the pockets of the very same people demanding it. They sure spend a lot of money lobbying the government to decrease tax rates that evidently do not affect them adversely according to your thesis, in the first place. Almost every country in the Middle East is awash in oil, and we have to side with the one that has nothing but joos. Goddamn, that was good thinkin'. Esso posted on 2012-01-13 7:37:56 ET mininggold  posted on  2012-02-04   2:44:31 ET  Reply   Trace   Private Reply   #5. To: mininggold (#4) They sure spend a lot of money lobbying the government to decrease tax rates that evidently do not affect them adversely according to your thesis, in the first place. Maybe they're lobbying on our behalf 'cause they care about us little people paying their tax. Post-­Conflict Regime Type: Probability of Being a Democracy Five Years After the Conflict Has Ended; Violent Campaigns - 4%, Nonviolent Campaigns - 46%. Erica Chenoweth, Ph.D., Stanford University, lucysmom  posted on  2012-02-04   8:44:28 ET  Reply   Trace   Private Reply   #6. To: Brian S (#0) (Edited) Real US Corporate Tax Rate Falls To 12.1% The U.S. has the highest marginal corporate tax rate in the world at 35%, yet on average businesses only pay 12.1% of earnings in taxes. On top of that, they spend upwards of $500 billion a year just to figure out what taxes the owe. Here's a simple answer: get rid of all special interest spending in the tax code and implement a flat rate corporate tax of 15%. The U.S. government would get more money. Businesses would save most of the $500 billion in tax preparation fees. The economy would boom This common sense approach will never happen because both parties use the spending in the tax code to buy votes. Companies who want this straight forward business environment, will need to move to Canada, which lowered it's corporate tax rate to 16.5% from 18% this year. Iran’s main drive for acquiring atomic weapons is not for use against Israel but as a deterrent against U.S. intervention -- Major General Zeevi Farkash, head of the Israeli Military Intelligence Directorate jwpegler  posted on  2012-02-04   11:39:46 ET  Reply   Trace   Private Reply   #7. To: Wood_Chopper (#3) (Edited) Businesses don't pay taxes. They merely ad them to the cost of their product. They just collect them from their customers. Who actually pays corporate taxes depends on the competitive nature of the market that the company is in and the demand for the labor force the business needs. Corporate taxes can come from: 1) Higher prices to consumers 2) Lower investments in new products 3) Lower investments in expansion into new markets 4) Lower wages and benefits 5) Lower earnings Iran’s main drive for acquiring atomic weapons is not for use against Israel but as a deterrent against U.S. intervention -- Major General Zeevi Farkash, head of the Israeli Military Intelligence Directorate jwpegler  posted on  2012-02-04   11:43:17 ET  Reply   Trace   Private Reply   #8. To: mininggold (#4) They sure spend a lot of money lobbying the government to decrease tax rates that evidently do not affect them adversely according to your thesis, in the first place. Lemme fix that for you mg: They sure spend a lot of their customers' money pretending to lobbying the government to decrease tax rates that evidently do not affect them adversely to further the scam according to your thesis, in the first place. Tag line: I wuz HACKED, cuz I SAY so! (Boris Y) "I'd vote for obama" (Mad Dog, Paul voter) IF RonniePAULIE runs as a repukelican't, (OR even as a demonRAT), against the messiah "king" obammy; I'd vote FOR him. Wood_Chopper  posted on  2012-02-05   2:06:41 ET  Reply   Trace   Private Reply   #9. To: jwpegler (#7) (Edited) Corporate taxes can come from: 1) Higher prices to consumers 2) Lower investments in new products 3) Lower investments in expansion into new markets 4) Lower wages and benefits 5) Lower earnings Corporate taxes can come from: their customers. Tag line: I wuz HACKED, cuz I SAY so! (Boris Y) "I'd vote for obama" (Mad Dog, Paul voter) IF RonniePAULIE runs as a repukelican't, (OR even as a demonRAT), against the messiah "king" obammy; I'd vote FOR him. Wood_Chopper  posted on  2012-02-05   2:08:37 ET  Reply   Trace   Private Reply   #10. To: Wood_Chopper (#9) Corporate taxes can come from: their customers. All revenue comes from customers. Your original assertion is that raising taxes will cause businesses to simply pass the cost on to customers. That's incorrect. Higher taxes can come from a variety of places, depending on competitive nature of the market and labor pool. Iran’s main drive for acquiring atomic weapons is not for use against Israel but as a deterrent against U.S. intervention -- Major General Zeevi Farkash, head of the Israeli Military Intelligence Directorate jwpegler  posted on  2012-02-05   11:50:20 ET  Reply   Trace   Private Reply   Top • Page Up • Full Thread • Page Down • Bottom/Latest

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