Is it better to lobby than to pay taxes?

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America's largest corporation paid no income tax

At one time corporations paid about 30 per cent of federal revenues. Now corporations pay about 6 per cent.

Yet Republicans want to cut corporate income tax.

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Far Left Side: Federal Revenues since the 1950's

It's clear that the FICA payroll tax has been going up that pay for Social Security and Medicare while the corporate income tax has been going down.

The FICA tax is regressive and has a tax cap. After the $107 cap is reached, the FICA tax is not paid. To keep Social Security and Medicare solvent, the cap has been periodically  raised.

Corporate tax revenues have declined because Congress has given the Fortune 1000 C-corporations numerous loopholes and exemptions. This is why the largest US corporation, GE, has paid no taxes for years.

Lefty form Far Left Side is correct. It isn't fair.

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Newsmax: Even conservatives are gasping about GE's corporate taxes

GE filed it corporate income tax return. Although the company made $14 billion in 2010, it paid no corporate income taxes. GE is the biggest corporation in the US.

Only $5 billion was taxable because $9 billion was made "outside: the US. Often corporations locate their headquarters outside of the US to avoid paying federal corporate income tax.

The GE corporate taxes were filed electronically and the form was more than 57,000 pages long. If the tax form had been printed out, it would have stood 9 feet high.

What is Republican Paul Ryan's solution for this tax dodge?

Get rid of those loopholes and lower tax rates by a corresponding amount. Don’t lose revenue, but for every loophole you pull out, and deny a company from being able to get this little carve-out, you can lower the rates so we can be more competitive with our competitors overseas.


Although the official corporate tax rate for the US is 35 per cent, the effective tax rate is 17.5 per cent due to tax exemptions (loopholes).

Getting rid of the loopholes is easier said than done. The lowest corporate tax rate of the industrial nations is Ireland is 12.5 per cent and that low rate was set  to encourage investment in Ireland.

This Irish rate is controversial in the EU, particularly after Ireland has been having severe financial problems that have collapsed two governments.

source: NewsMax

photo source: Progress Illinois

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Fox News shills for corporate tax breaks

This is a false dichotomy. The government could give returning coproations a reduction in corporate taxes rather than 0 taxes as Fix News is suggesting.

Eric Bolling's idea on corporate tax breaks for offshore companies is hardly new.

Many of these coprorations were given tax breaks by the Bush adminstration when they off shored. Are these coprorations  to pay those tax break back? Bolling is mum on that issue.

The offshore tax holdiay was tried in 2004 and the bulk of the benefits went to shareholders and the corporate exectives, not the employees

As GW Bush said: 

There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again. —Nashville, Tenn., Sept. 17, 2002

Senator Carl Levin said: 

Rich corporations with money offshore want a tax holiday; I want them to pay their taxes like the rest of us. 

The avowed goal is to generate jobs and investment, but the offshore tax holiday was tried before, in 2004, and the lion’s share of the benefits went not to unemployed workers and their families, but to corporate shareholders and executives.
source:
The avowed goal is to generate jobs and investment, but the offshore tax holiday was tried before, in 2004, and the lion’s share of the benefits went not to unemployed workers and their families, but to corporate shareholders and executives.The avowed goal is to generate jobs and investment, but the offshore tax holiday was tried before, in 2004, and the lion’s share of the benefits went not to unemployed workers and their families, but to corporate shareholders and executives.The avowed goal is to generate jobs and investment, but the offshore tax holiday was tried before, in 2004, and the lion’s share of the benefits went not to unemployed workers and their families, but to corporate shareholders and executives.http://www.nationofchange.org/wealthy-corporations-trillion-dollars-stashed-offshore-lobby-holiday-us-taxes-1319470039

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