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Biggest Tax Scam Ever

backseatLover12backseatLover12 Posts: 2,312
in A Moving Train
…brought to you by the US Congress, in bed with corporatism.

This has been going on for years, yet only now with corporations flaunting their actions, is it now getting this kind of public attention.

http://www.rollingstone.com/politics/news/the-biggest-tax-scam-ever-20140827

Some of America's top corporations are parking profits overseas and ducking hundreds of billions in taxes. And how's Congress responding? It's rewarding them for ripping us off

Comments

  • badbrainsbadbrains Posts: 10,255
    America, love it or leave it lol
  • dignindignin Posts: 9,336
    Thieves.
  • callencallen Posts: 6,388
    And I thought you were going at churches.
    10-18-2000 Houston, 04-06-2003 Houston, 6-25-2003 Toronto, 10-8-2004 Kissimmee, 9-4-2005 Calgary, 12-3-05 Sao Paulo, 7-2-2006 Denver, 7-22-06 Gorge, 7-23-2006 Gorge, 9-13-2006 Bern, 6-22-2008 DC, 6-24-2008 MSG, 6-25-2008 MSG
  • backseatLover12backseatLover12 Posts: 2,312
    image

    26 corps paying no total income tax in 2008-2012
  • backseatLover12backseatLover12 Posts: 2,312
    edited September 2014
    image

    111 companies paying zero tax or less in at least one year 2008-2010

    http://www.ctj.org/corporatetaxdodgers/sorrystateofcorptaxes.php
  • rgambsrgambs Posts: 13,576
    Not just paying 0$ but making a net GAIN from their tax liability.
    There's your welfare conservatives and "libertarians"
    Monkey Driven, Call this Living?
  • dignindignin Posts: 9,336
    rgambs said:

    Not just paying 0$ but making a net GAIN from their tax liability.
    There's your welfare conservatives and "libertarians"

    But let's worry about people possibly making $15/hr
  • rgambsrgambs Posts: 13,576
    dignin said:

    rgambs said:

    Not just paying 0$ but making a net GAIN from their tax liability.
    There's your welfare conservatives and "libertarians"

    But let's worry about people possibly making $15/hr
    Exactly. Focus on the people who get welfare and don't work those dirty nasty freeloaders. Billions on this list and it's just one kind of tax evasion. There are lots more, and the total far eclipses what is lost in tax revenue from the "freeloaders" who voted for Obama "cuz they wanted free stuff"
    Monkey Driven, Call this Living?
  • rgambsrgambs Posts: 13,576
    Let's get all riled up by the immigrants, they are costing us millions. Ignore the CEOs sending billions overseas, get the immigrants! And people are seriously dense enough to wonder why they get accused of racism for it.
    Monkey Driven, Call this Living?
  • badbrainsbadbrains Posts: 10,255
    rgambs said:

    Let's get all riled up by the immigrants, they are costing us millions. Ignore the CEOs sending billions overseas, get the immigrants! And people are seriously dense enough to wonder why they get accused of racism for it.

    Media is doing a damn fine job dumbing down the nation.
  • callencallen Posts: 6,388
    rgambs said:

    Let's get all riled up by the immigrants, they are costing us millions. Ignore the CEOs sending billions overseas, get the immigrants! And people are seriously dense enough to wonder why they get accused of racism for it.

    Diversion using insecurities and fear. Oh how well it works. FUCK FOX.
    10-18-2000 Houston, 04-06-2003 Houston, 6-25-2003 Toronto, 10-8-2004 Kissimmee, 9-4-2005 Calgary, 12-3-05 Sao Paulo, 7-2-2006 Denver, 7-22-06 Gorge, 7-23-2006 Gorge, 9-13-2006 Bern, 6-22-2008 DC, 6-24-2008 MSG, 6-25-2008 MSG
  • brianluxbrianlux Posts: 42,038
    Steal a little and they'll put you in jail
    Steal a lot and they'll make you king.
    -Bob Dylan
    “The fear of death follows from the fear of life. A man [or woman] who lives fully is prepared to die at any time.”
    Variously credited to Mark Twain or Edward Abbey.













  • EdsonNascimentoEdsonNascimento Posts: 5,521
    backseatLover12 said:

    image

    111 companies paying zero tax or less in at least one year 2008-2010

    http://www.ctj.org/corporatetaxdodgers/sorrystateofcorptaxes.php

    Do you have the list that includes TOTAL taxes paid by these same corporations over the 5 years of the study? Obviously, the first handful are pretty much listed as they had 4 or 5 years without taxes. But, the bulk of your list is companies that had 1 or 2 years with zero liability. I'd be curious to see what their taxes were in total for the 5 years shown and not just the 1 or 2 years they didn't pay. I honestly have no idea what that would look like, but it would be interesting to know, as it is possible that by putting certain expenses in 1 year, you can get a tax benefit only to lose that benefit in the years you are moving it from.

    I generally like to know the whole story before forming an opinion, and this list seems created to inflame and not necessarily inform. Does your source have the rest of the information that would enlighten the debate?
    Sorry. The world doesn't work the way you tell it to.
  • backseatLover12backseatLover12 Posts: 2,312
    Did you READ the article?

  • backseatLover12backseatLover12 Posts: 2,312
    If you think I'm enflaming rather than informing, you can go ahead and post the links for other corps and the taxes they've paid. It's all there.

    The latest? Burger King buying Canadian Tim Horton's so they can do the same. They even admit it.

    http://www.nasdaq.com/article/burger-king-tim-hortons-cross-border-merger-much-more-than-tax-inversion-cm388133
    The merger is being looked upon as a tax inversion strategy by Burger King, as the parent company's headquarters are relocated to Ontario, Canada. Inversion will allow Burger King to transfer its money overseas to the parent company in Canada without paying additional U.S. taxes, but rather paying the lesser tax to the Canadian government. Canada's federal tax rate of 15%, combined with Ontario's corporate taxes of 11.5%, results in a combined tax rate of 26.5%. It will benefit the American company in tax savings, as it can use the saved money to reinvest in the businesses or to fund the dividends and share buybacks.

  • EdsonNascimentoEdsonNascimento Posts: 5,521
    edited September 2014
    backseatLover12 said:

    If you think I'm enflaming rather than informing, you can go ahead and post the links for other corps and the taxes they've paid. It's all there.

    The latest? Burger King buying Canadian Tim Horton's so they can do the same. They even admit it.

    http://www.nasdaq.com/article/burger-king-tim-hortons-cross-border-merger-much-more-than-tax-inversion-cm388133

    The merger is being looked upon as a tax inversion strategy by Burger King, as the parent company's headquarters are relocated to Ontario, Canada. Inversion will allow Burger King to transfer its money overseas to the parent company in Canada without paying additional U.S. taxes, but rather paying the lesser tax to the Canadian government. Canada's federal tax rate of 15%, combined with Ontario's corporate taxes of 11.5%, results in a combined tax rate of 26.5%. It will benefit the American company in tax savings, as it can use the saved money to reinvest in the businesses or to fund the dividends and share buybacks.

    I never said YOU are. I said the article (and more specifically the chart you sited) seemed to. Not sure why everyone takes debates so personally. I was really asking a question. Carry on.
    Post edited by EdsonNascimento on
    Sorry. The world doesn't work the way you tell it to.
  • mickeyratmickeyrat Posts: 38,592
    important to remember that this occured during the economic collapse. Just sayin. STILl they need to e held accountable. Enjoy the protections afforded, Pay up fuckers.
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • backseatLover12backseatLover12 Posts: 2,312
    mickeyrat said:

    important to remember that this occured during the economic collapse. Just sayin. STILl they need to e held accountable. Enjoy the protections afforded, Pay up fuckers.

    It started with Clinton. (if you read the article) It was pushed by the GWB administration and continues today.
  • mickeyratmickeyrat Posts: 38,592
    backseatLover12 said:

    mickeyrat said:

    important to remember that this occured during the economic collapse. Just sayin. STILl they need to e held accountable. Enjoy the protections afforded, Pay up fuckers.

    It started with Clinton. (if you read the article) It was pushed by the GWB administration and continues today.
    Fair point. but the data set covers the meltdown period. Shit like this was Clinton's compromises to "get shit done" .

    I'm sure it goes back further. been an erosion of public good tilting toward business going on for a long long time.
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • rgambsrgambs Posts: 13,576
    Ronny Reagan, aka Mr. Ed, sure did his part. The cheesy 80's powersuit, shoulder pads, commercial girl, mentality was ripe for the picking, and a picking they went.
    Monkey Driven, Call this Living?
  • badbrainsbadbrains Posts: 10,255
    edited September 2014
    rgambs said:

    Ronny Reagan, aka Mr. Ed, sure did his part. The cheesy 80's powersuit, shoulder pads, commercial girl, mentality was ripe for the picking, and a picking they went.

    Did someone say "trickle down economics"? Lol
    Post edited by badbrains on
  • rgambsrgambs Posts: 13,576
    Isn't it ridiculous that we are supposed to accept a trickle and be thankful for it? Like, "I'm gonna piss, and if some trickles down on you, toss me some appreciation would ya?"
    Monkey Driven, Call this Living?
  • JC29856JC29856 Posts: 9,617
    Proposed accounting regs to require public companies to disclose corporate welfare.
    In two words...NEVER HAPPEN!

    http://dirtdiggersdigest.org/archives/5148
  • cp3iversoncp3iverson Posts: 8,693
    edited February 2016
    My company did this. If there's loopholes companies will use them. I know they're saving a ton of cash by doing it. You really have to blame the laws and not the board members deciding this.

    Selfishly the better they do the better i do because they are generous to their employees. Its an interesting loophole
    Post edited by cp3iverson on
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