Quote:
Originally Posted by Eric
Additionally, there are so many tax breaks and loopholes that many of those who would have the increases brought upon them would see minimal increase in their actual tax liability.
The truth and FACTS are this:
1) Wars were started and not paid for and the books were cooked. That had to be corrected and those things had to be paid for.
2) The tax code has to be fixed. The loopholes and the credits are insane. Having a company like Exxon state that they pay more taxes than people think and then try and bullshit the American public by saying that the taxes their employees and customers pay should be counted as their taxes is appalling.
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LOOPHOLES should be Closed -- If I was prez that would be one of the first things I did.
Now, everyone can list different pieces of facts to skew a view.
Like The wars Did and DO cost a shit ton of money. We still have 50K troops in Iraq at a high cost. I say Bring ALL troops home, save money!
Now the Exxon thing, honestly I believe the Gov AND Companies LIE, Lie and lie.
But if the news article on CNN is even remotely correct, it shows that these big companies do pay a TON of taxes, that the money goes to the Gov.
Even if it is the second half of employee taxes, without those social security would be even more broke.
Is Exxon putting a spin on the amount of federal income tax paid, YES.
Here is my view
One side says they pay NOTHING, one said says they pay to much, looks like the cnn article says they pay somewhere in the middle.
"Exxon's average effective U.S. income tax rate over the last six years is about 29%, according to the firm's security filings and an interview with a top Exxon tax lawyer"
" the company includes the federal and state gasoline taxes that the company collects from drivers and passes on to government coffers"
"Exxon's income tax rate is below the 35% rate mandated by corporate tax law, but it's widely believed most U.S. companies don't pay that rate thanks to generous loopholes in the tax code."
http://money.cnn.com/2011/05/04/news...axes/index.htm
What makes me mad is I have a friend, she is married and 3 children. This friend and her hubby did not work one day last year, and they made in excess of $41K and that is just the things she can remember she got from the government.
Smile!