60% of US Corporations Paid No Taxes
 

" WASHINGTON - More than 60% of U.S. corporations didn't pay any federal taxes for 1996 through 2000, years when the economy boomed and corporate profits soared, Tuesday's Wall Street Journal reported, citing the investigative arm of Congress."

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Where in texas are you?

Well, im sure taxes were paid on all the money they paid employees, and on product they bought, and on investment gains, and on a dozen other things. So they got out of paying 1 tax, theres lots of backups.

are you gonna beat me up? :helpme

yeah, congress rescinded a lot of their powers back in the mid 90s because they had become an orwellian bureacracy using it's powers not for the taxpayer but for the government itself. i have been reading many stories lately saying that the current administration and congress are going to give them free rein again.

Yeah that makes good airtime on CNN but its bullshit. I have 4 corporations all making $1 a year, but they paid a fuck of a lot in payroll, sales, etc. taxes. And the profit all was paid to me the owner as salary where it got taxed like a motherfucker.

*chuckle politely*

It's the offshore companies that get out of paying.

not only that they get TONS of kickbacks and bonuses from the government...Get yourself some lobbiests then tell us how much your corps pay

Woops! I knew I forgot to do something!

Well shit, i'm not gonna pay anymore if nohahahaha else is!

S Corps dont have to pay on the corp level but the officers have to on the personal level and that you can fudge around with

LLC!:thumbsup

and the govt made up for it by charging me a shitload of taxes in place of those

Taxes? Whats that? :Graucho

Tax is one of my biggest expenditures! :helpme

wachovia bank who bought out about 10 banks of late , including first union and im sure had profits in the multi-billions last year, ended up getting back 270million in their tax return. if thats not fucked up, i dont know what is

The wealthy individuals and companies in this country very rarely pay a lot of taxes. They hire the best accounting wizards to cloud everything they do.

crazy