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Saturday, August 11, 2012
Getting Screwed On Taxes
When corporations don't pay their fair share in taxes, the rest of us get screwed. As reported by the Huffington Post, America's ten most profitable corporations paid an average income tax rate of just 9% last year. The top two corporations not paying their fair share in taxes are oil companies – with ExxonMobil – the most profitable corporation in the history of the world paying a mere 2% income tax rate – and Chevron paying 4%. Those numbers clock in well below the 35% income tax rate corporations should be paying in America, but almost never do. Over the last few decades, corporate taxes as a share of government revenue have plummeted, forcing working people to pay more and more taxes to cover the gap. Plain and simple, giving tax breaks to corporations that pollute our skies, offshore our jobs, and deny us healthcare is not just crazy – it's immoral.
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11 comments:
Keep voting Republican. Please wake up and vote Obama 2012!
companies – Like Exxonmobil chevron ect. does not pay any tax because it's passed on to you and I. Raise their tax level, we pay the government more money.
When is anyone going to understand that big corporations pass ANY costs (taxes included) above the expected profit onto the comsumer?
Why aren't local and federal taxes on gasoline which are exponentially greater than company profits mentioned?
More BS from the author of such great books as "Unequal Protection: The Rise of Corporate Dominance and the Theft of Human Rights."
Actually these companies are paying taxes they "should" be paying according to the US tax code. Should anyone believe they should pay something more then change the tax code.
They writer also needs to follow the money; if corporations pay more taxes, then their customers _ that's us - pay more for their goods and services. It is a myth to try to conceive that anyone other than the American people pay taxes. This is also why the concept of applying an extra burden to those who already supply a disproportionate share of Federal revenues is a myth; Papa John has already said his pizzas are going up 14 cents to pay for ObamaCare and other companies will have to charge even more because they have less volume. Raise the income tax on business owners and you'll increase your costs even more (check your grocery bill - up 15% this year to cover increased costs of taxes and regulations.
go ahead bleeding hearts - kick your ownself where there is a lack of brilliance (no, not between the ears, dummies).
Corporations should pay zero taxes!
Thanks to Obama, we need higher taxes to pay for all the additional welfare recipients.
Anonymous said...
Corporations should pay zero taxes!
August 11, 2012 2:13 PM
And why is that? They consume services from the government, why shouldn't they help pay for them? Corporate welfare is no better than personal welfare.
Revise the tax code and eliminate loop holes.Obama said he would do that but did he?
Do you know the man who has controlling interest in ExxonMobil is a liberal democrat.Look it up.His last name starts with R.
1:15,Did you know Exxon is controlled by a liberal democrat?
@1:15 - you are totally correct; Republicans are historically the party of big business.
@ 10:27 - It doesn't matter what the party affiliation of Exxon's CEO. Do you really think any CEO is going to tell his Board of Directors - 'Oh - I'm going have our company pay more taxes because it's the right thing to do.'?
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