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GOP Tax Scam Loophole Would Let Corporations Reap Billions More in Tax Avoidance


#1

GOP Tax Scam Loophole Would Let Corporations Reap Billions More in Tax Avoidance

Jessica Corbett, staff writer

Harvard analysis shows that Apple alone could save more than $4 billion a year unless Treasury and IRS fix rules


#2

The Republicans want a government of the corporations, by the corporations and for the corporations. This also includes being a government of the rich, by the rich and for the rich. Even Mr. Turtle, Mitch McConnell admitted in public that all of the current corporate butt kissing was a thank you for their corporate financial support in the 2014 and 2016 elections that gave them control of congress and then the White House. They are doing the same thing for their rich donors.

This could be called the prostitution of the Republican Party as we now have a government of, by, and for the corporations and the rich. In stark contrast to Abraham Lincoln’s (a Republican) government of the people, by the people and for the people, Then the additional issue becomes to compete against the Republicans the Democrats will have to compete by doing the same type of corporate, rich donor butt kissing. In short, prostituting our government.


#3

This article makes it pretty clear that the proper corporate is zero. Here’s a bit of an article that explains why:

Politicians create tax incentives that reward businesses for doing things they like and punish them for doing things they don’t like, while corporate interest groups invest a great deal of time and energy in lobbying for tax favors. Some of that is pretty crude: Democrats have for years been trying to monkey with business-expense rules to punish companies for outsourcing, so that a cardboard box bought for moving business records from the headquarters in St. Louis to the warehouse across town would be a deductible expense but the same box used to move business records to a new call center in the Philippines would not be deductible. Some of it is more subtle and more complicated, i.e., engineering deals and business units in such a way that artificial capital losses and expenses can be racked up and stored away to reduce (for tax purposes) future income. There’s an old joke that General Electric is the world’s greatest tax-law firm, with a sideline in manufacturing, but consider also that blockbuster films that do billions of dollars in business routinely show little or no profit for tax purposes. Famously, Return of the Jedi has never made a dime, so far as the IRS is concerned.

Read more at: http://www.nationalreview.com/article/447070/corporate-tax-rate-reduction-zero-percent-would-be-better-15

All that jumping thru hoops means fewer jobs, higher prices and so on.

#4

Donald Trump Acknowledges Not Paying Federal Income Taxes for Years

So what type of role model is that for the country, a president that uses loopholes and other tricks to pay no taxes on billions of dollars of wealth and income. Why did we elect a tax evader president?


#5

Of course the GOP voted for the “tax cuts”, and the DamnocRats only pretended to resist.  More money for Korporations means they can now give even larger “campaign contributions” (bribes) to their peons of both parties in both Houses of “our” Shit-Hole Congress.