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#PayUpCorps Campaign Highlights All Nation Could Do If Corporations Paid Their Fair Share


#1

#PayUpCorps Campaign Highlights All Nation Could Do If Corporations Paid Their Fair Share

Julia Conley, staff writer

A progressive think tank was joined by hundreds of supporters Thursday in a Twitter campaign demanding that corporations pay a fair tax rate.

A day after President Donald Trump touted his "scam" tax proposal, the Institute for Policy Studies' #PayUpCorps campaign highlighted needs in infrastructure, healthcare, and other sectors that could be paid for with all the money corporations stand to save under the Koch brothers'-backed tax plan.


#2

Could someone please explain how much ‘fair share’ is??


#3

I am paying to shore up infrastructure used by corporations who are not paying taxes they owe. I am paying for supplemental programs used by corporate employees who are not paid a living wage. I am paying to educate the children of employees of those corporations. I am paying for corporate executives’ second, third, and fourth homes and the private jets they use to hop between them. And I am damn mad about it!


#4

How do you get the money that you pay taxes with?


#5

Does anyone else feel no shock that Kamala Harris is silent on this?


#7

Here’s what corporations think is fair. https://youtu.be/zbH66lGRfiI


#8

35% on profit after tax credits for any foreign corporate income taxes paid and after deducting state corporate income taxes paid…I’d also like to see the interest deduction disallowed.

C corporations (the big boys) would have paid about $630 billion last year in federal corporate income tax (about 28% of gross profit) if taxes on foreign earnings could not be deferred and the interest deduction were disallowed. That’s about $240 billion more (about 60% more) than the $390 billion they did pay (about 18%, on average).


#9

And how have you determined this is fair?? Maybe the government should try a new approach? How about cutting spending and not deficit spending? Think how all the interest could be better used…


#10

Before any discussion of reducing the tax burden from its current level the entire tax code should be cleansed of All tax deductions and wavers. Then we will know what the tax burden on corporations actually is. At present the corporate quislings and lackeys squabble about the taxes being too high and the truly populist, those who support Real people, point out the corporate welfare system that allows companies such as Exxon to avoid much of their bill. My experience tells me that both sides are gilding lilies and are engaged in half truths and obfuscation.
It is Our government and it damn well should be working for the citizens and not those who have so much more than they can ever use. Look at all the Bill Gates in this country and how they can’t even give their money away fast enough to keep up with their incomes. I’ll just bet the Koch bros don’t lament the price of good scotch either.


#11

Ummm… The article ought to have provided a wee bit more detail that included examples of certain corporations, e.g., dubious accounting practices, transference of profits to off-shore bank accounts, along with approximate dollar amounts of dodged corporate taxes.


#12

A start. Look into Cork, Ireland. Anyways, check out Walter Hickey’s article in Business Insider May 21, 2013 on Apple where he breaks it all down, tax avoidance by Apple. Furthermore, as you look into Cork, Ireland you will also notice another player, Amazon. The same old song, and dance.


#13

“…is silent on this” ≠ I haven’t heard her position.

Forcing middle-class Americans to pay for corporate tax cuts is absurd.

Senator Harris Statement on President Trump’s Budget


#14

How about 50% on incomes $1M and more? Individuals and Corporations. That isn’t as high as Eisenhower tax rates (95% on incomes over $400,000). Currently the highest tax rate is 39.6%. And the tax rates for those below $1M can be slowly graduated from 0% for all in the poverty level up to 50% for incomes at $1M and more.

Capital gains taxes should be increased, too, fairly, and at a graduated rate closely reflecting the income tax structure.

And simplify the damned 1040 and schedules. Every year I get madder and madder at its complexity.

Just a thought…


#15

For many decades we’ve seen tax reductions for the Uber Wealthy, loopholes for corporations, decreased oversight and taxes on banks, wall street transactions, and increased costs, taxes, “fees”, and fines for the 99% - “tax cuts” are sold/peddled to the gullible as “for everyone” but the truth is far different - they are a pig-in-a-poke designed to steal from our republic & citizens - our sustainable future - to benefit the top 1% - the accumulation of vast wealth that has subverted our politics, Congress and priorities!

In NY prior to 1972 there were 14 income tax brackets - under Nelson Rockefeller the bottom two were eliminated as well as the top 9 leaving a basic rate of 6.85% whether one made 30 thousand or 30 million. The result was $8 Billion (in 1972 dollars!) removed from education (raising local property taxes to obscene unsustainable levels) and infrastructure maintenance, mass transit, health care, revenue sharing, environmental protections/clean-ups etc, etc. That was a give-away to the wealthiest that remains to this day as other such have done nationally!

We hear from corrupted politicians that “we cannot raise taxes” on the wealthy, corporations or wall street - that’s BS What we need is a RESTORATION of fair taxation to give back to society - for trump and all the other pigs at the trough!!

http://fiscalpolicy.org/the-path-not-taken-how-new-york-state-increased-the-tax-burden-on-the-middle-class-and-cut-taxes-for-its-highest-income-taxpayers-by-over-8-billion-a-year Please Read…


#16

I read it. I worked in NJ for several years (DOD) and transferred into NY. There were many machinations to keep transferees such as myself away from NY income taxes and just pay NJ income taxes, but not everybody was so “lucky”. Some paid BOTH taxes. Anyway, state taxes are never equivalent to Federal taxes, but removing those top nine is certainly extreme. Rockefeller was a true Ray-gun Republican, wasn’t he?


#17

And HOW did you determine that your idea was fair??? I want to know what is fair and how it was determined…
You might consider that the top 1% pay nearly 40% of taxes, the top 10% pay nearly 71%, and the top 50% pay 97+%.
The lower 50% of income pay only 2.75%…
https://www.ntu.org/foundation/page/who-pays-income-taxes
Don’t you think a flat tax would be more fair? A sales tax where everyone pays according to their usage of government provided services? Asking those who already provide 97% of the government’s income seems like class warfare to me.
The government has a spending problem, not an income problem.


#18

Corporations have ALWAYS looked out for themselves and screw everyone else.


#19

I didn’t say it was “fair”, though I think it is. I read a study showing that people in other countries with free health care, education, and other benefits will tolerate paying 50% income tax before rebelling. So I DID have the wealthy in mind with that figure. Your figures are misleading, and they are old.

Most of the wealthy get their income from capital gains, and the highest taxes on CG are not 39.6% but just 20%. This is how the wealthy keep their wealth, along with the low 39.6% tax rate on income…

As for this:

Oh, are you a Trump supporter who thinks we don’t don’t need the administrative function of the government? Flat tax does not work at all. Look it up. And all taxes (up to 50%) should go to benefit the citizens, not fat cats and corporations.


#20

He’s not talking about brackets or rates. (Why is it that commenters on this forum have no idea how taxes work and get this wrong every single time it’s posted?).

Of all the Federal income taxes collected the top 1% of earners pay close to half of the total. Not their individual tax rate, but the % of all taxes collected. The bottom 40% of earners pay nothing.

The rich and upper “classes” are already paying all of the taxes.


#21

There is a company in Emeryville, California - Innovative Interfaces - that does software for public libraries. Their main client have been taxpayer funded public libraries and much of their innovation came from experience and knowledge gained at the public university - University of California Berkeley.

When the firm was bought out in 2012 by private equity firms Huntsman-Gay and JMI Equity, they transferred the intellectual property to Ireland - so they would have to pay less taxes to fund the taxpayer paid public libraries which are their main clients. Makes a lot of sense - capitalism American style.