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Corporations Complain Their Taxes So High, But New Study Busts That Myth


#21

and you can be assured that massive corporate media will not put this out to the public and the right
wing networks surely will not.

The public will be hoodwinked again.


#22

We are not talking about the rest of the world and our investment in the rebuilding. We’re talking about the prosperity in the US and it began under Eisenhower in the 50’s and he warned about MIC when he left office in 61 or 62. These big conglomerates became big and and making lots of money because of the wages and consumption. Now they have forgotten the people who brought them to where they are today. They think it is all about them, they did it alone. BS


#23

And as long as the Democratic poor continue to not show up at the ballot boxes and are apathetic about voting and the white house being run by an idiot Donald Trump and congress being run by idiots like Mitch McConnell, we will have this type of Republican rule of the rich, by the rich and for the rich. Of the rich corporations, by the rich corporations and for the rich corporations. There was Democratic and Independent voter apathy in the 2014 and 2016 elections that gave Republicans control of the federal government. We can’t let that happen again.


#24

Jujudahl, the reason the US in the 50s was, relatively speaking, so successful was because we were the only country that had an un-destroyed industrial base. Germany, France, the UK, the USSR, Japan, China, everyone else had their industrial base destroyed in WWII. As a result, we could charge want we wanted and still have full production and employment.

On the separate point of the MIC, Eisenhower was absolutely right - any time you let the government throw money around, people find ways to take advantage of it. All the more reason to keep government small. Let decisions (and spending) be at the local level, or the state level, so the opportunity for corruption is reduced.


#25

Generally when taxes are raised, they never raise the amount of income that is projected. Look for example and CT’s increase in the income tax, or NJ’s, or alternatively, Seattle’s tax on guns and bullets. When it make it more costly to earn income, people find alternatives, at the margin, people will either move their income, or choose leisure over income.


#26

Also/the/effective/rate/is/lower/than/corps/domiciled/in/any/other/developed/country


#27

Um, no, not so at all:

3rd highest average rate, 4th highest effective rate. See page 2.


#28

Bill Gates has leisurely made his way to $100 Billion. If he quits working entirely, in another 15-20 years, he’ll be worth $250 Billion. We need to find him some real work, and fast.


#29

The wealthy could still afford all of the goods and services including multiple houses, aircraft and yachts that they wanted when Eisenhower era tax rates were in effect. Those tax rates DID however keep their disposable income to levels that prevented them from owning many politicians. So, yes those tax rates didn’t create the mid-century booming economy or middle class, it just kept politicians more accountable to voters and less accountable to the .1% and their corporations.

It is the ownership of politicians by the .1 % enabled by low net tax rates that keeps expanding the income and wealth inequality gap for the past four decades AND accelerates wealth transfer from the 99% to the 1% that can end in only one place…neofeudalism whereby the 1% own everything and the 99% own nothing.

Net tax rates are what individuals and corporations actually pay in taxes, not the published tax rates that can be hard to find because they are buried in hundreds of pages of loopholes.


#30

How do we deal with the no man’s land that is globalization? This globalization allows corporations to hide their wealth in tax havens and shell companies. This globalization that allows organized crime to thrive. Everything is so totally corrupt and become more corrupt all the time. Nothing stands still. Corruption is the culture of the business world. Deregulate everything as long as we make money. Legalize corruption. To what end?

We could create a block of countries that set a bottom line for capitalism that isn’t at the rock slimy bottom. If corporations had to play by the same basic rules of protecting human rights, giving a living wage, paying their taxes and protecting the environment then they’d all be competitive with each other. They wouldn’t have to use slave labor, or poison the water supply to make a profit.


#31

Total real (inflation adjusted) GDP growth for the 30 year period 1950-1980 was about 70% more than it was for the following 30 year period (1980-2010). Industrial capacity that was lessened due to the war was back to “normal” (except for armaments manufacturing) by the early 1950s.

We averaged both exporting and importing about 5% of GDP during that first 30 year period (balanced trade). Now our trade DEFICITS in goods are running about 5% of GDP…$17 trillion cumulative trade deficit in goods since 1980.


#32

Every little bit helps poor Raytheon…


#33

Something we can all agree on. Any time you find locales throwing tax credits at a company it’s a waste of the taxpayer’s money. First, it supports state cronyism. Second, those things never, ever pay for themselves - if they did, they wouldn’t be needed…Third, it’s the state playing winners (the receiving company, whether it’s Raytheon, Solyndra, or the Phoenix Suns) and losers (every taxpayer)


#34

That was partially true but we educated vets and they came productive and very much contributors and consumers and so were there children. I don’t lay it all on Europe being destroyed but it did have an effect.


#35

Agreed - it’s not 100% due to the rest of the industrialized world losing their industrial base. GI Bill-supported productivity definitely helped as well as pent up demand deferred due to the war. However, it was not due to high tax rates. High tax rates never spurred productivity.


#36

WW we will agree to disagree as it proven given taxes to the billionaire class does not spur growth or wages. and it is damn time we start thinking of planet earth and not all the junk we don’t need for this growth.


#37

“The real difficulty is with the vast wealth and power in the hands of the few and the unscrupulous who represent or control capital. Hundreds of laws of Congress and the state legislatures are in the interest of these men and against the interests of workingmen. These need to be exposed and repealed. All laws on corporations, on taxation, on trusts, wills, descent, and the like, need examination and extensive change. This is a government of the people, by the people, and for the people no longer. It is a government of corporations, by corporations, and for corporations.
― Rutherford B. Hayes, Diary and Letters of Rutherford Birchard Hayes: Nineteenth President of the United States


#38

We can’t win until the crooks pay tax on their gross not net income. Net income is a fraud created by accountants and lobbyists. Gross income is a number that is easy to calculate.


#39

Another way to frame this issue is to consider the relative share of corporate income tax revenue compared with individual income tax revenue. By this measure, the relative share of corporate income tax revenue has fallen by well over 50% in the last 40 years or so. I posted about this in 2013 on the Huffington Post. The latest OMB data shows this trend continuing; about 1/6 corporate vs 5/6 individual. Read it and weep! The bottom line is that corporate taxes need to be raised, not lowered…