Wednesday, April 15, 2015

Tax day...The Day We Celebrate Companies Paying No Taxes......

$23,000,000,000.00 in profits and $0.00 paid in US Taxes.
When the companies are done paying no taxes they love to bellyache about how unfair US Corporate Tax system is.
They will whine and complain to anyone who will listen about how the USA has the highest corporate tax rates in the world. Boo hoo……..Then the camera turns off and they laugh out loud about how they paid no taxes of any kind. In fact some paid no taxes and then got a refund to boot. It is a great deal if you can get it.
These companies want all the rights and privileges of being in the United States and they have no problem waving the American flag in front of their corporate headquarters. They are red white and blue through and through……..As long as they don’t have to pay a dime in taxes.
Make sure you pay your taxes though. It is your duty.
Together, they paid no federal income tax in 2014, despite profits totaling $23 billion. CTJ's (Citizens for Tax Justice) point is that these companies are not anomalies, they are examples.
Most people agree that corporate taxation is broken, even the companies themselves. Congress has long discussed a quid pro quo of closing the loopholes in return for lower corporate tax rates.
CTJ calls that solution preposterous, as it would essentially reward borderline-immoral behavior.
"The revenues raised from eliminating corporate tax subsidies should not be given right back to corporations in the form of tax-rate reductions," the report says. "Instead, as the vast majority of Americans understand, these desperately needed revenues should be used to address our nation’s fiscal problems and to make critically needed public investments in our nation’s future."

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