ARE U.S. MEGA-CORPS REALLY OVERBURDENED BY TAXES?

6 comments

Posted on 16th July 2014 by Administrator in Economy |Politics |Social Issues

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Whenever I see a story in the MSM about the poor goliath corporations who are struggling because they pay too much in taxes, my bullshit meter starts flashing red. The mega-corporations currently have the highest profits as a percentage of GDP in U.S. history. The mega-corporations control the politicians in Washington DC and state houses around the country. They write the tax laws and create the loopholes that keep them from incurring taxes.

The storyline is disingenuous, as they peddle charts like the one below showing statutory rates. These are the top rates that could be paid. Are these the actual rates paid by mega-corporations? Not a fucking chance. These parasitical mega-corps have armies of tax lawyers, tax accountants, and lobbyists making sure they don’t pay anything near 39.1%. These charts are produced by organizations funded by mega-corporations to make it seem like these corporations need lower tax rates.

 The reality is that mega-corporations are paying the lowest effective tax rate in U.S. history. Those congressional bribes are really paying dividends for the corporate CEOs and their lackeys. All time high profits, bonuses, and stock buybacks. But that isn’t good enough. They want more. They are never satisfied. Meanwhile, the little guy sees their income taxes, sales taxes, real estate taxes, tolls and thousands of government fees rise relentlessly. We don’t have lobbyists and lawyers fighting for us. Small businesses are effectively put out of business by mega-corps who write the laws, regulations and tax code. Don’t believe the baloney peddled by the corporate media about overburdened mega-corps.

6 Comments
  1. Administrator says:

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    16th July 2014 at 12:13 pm

  2. Administrator says:

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    16th July 2014 at 12:24 pm

  3. Stucky says:

    Oh! Those poor, poor Corporations! Wah! Wah! Wah!
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    16th July 2014 at 12:50 pm

  4. Stucky says:

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    16th July 2014 at 12:52 pm

  5. GilbertS says:

    Yeah, how much did GE pay under Barry’s regime?

    My friend is an accountant for a failure of a telecom that does shit I can’t exactly understand and somehow makes money out of it. This corporation never turns a profit, but somehow limps along. They suck, but somehow they’ve persisted for several years,and now they’ve been purchased by another company which actually has some profitable units. Thanks to America’s backwards ass income tax laws, a profitable corporation can buy up a failing corporation and write off their losses, even from past years, saving them taxes on their profitable units.

    The one thing my friend has made clear is the bigger a corporation is, the less efficient and reliable they are. They just hemmorhage cash as they get bigger and the senior people loot the money or waste it on ridiculous expenditures and hookups for friends, such as when they fired this company’s CEO, who got 3 years’ severance, then rehired him back as a contractor consultant. Or the free apartments for senior people and free plane tickets so then can commute from one coast to the work on the other and back every week.

    At this point, I wonder if a kid fresh out of gradschool with his MBA could run a corporation any worse than one of these stuffed suits?

    16th July 2014 at 2:02 pm

  6. Llpoh says:

    Horseshit. US corps pay the world’s highest corporate tax rates on US source income. Why do you think corps make such an effort locating headquarters overseas, if it is so easy not to pay the 40% US rate?

    Those charts reflect world-wide profits against US taxes, or they reflect financial report profits against US tax return profits. Which are not the same.

    US corps report their world-wide profits, which people then use to create these charts against US expenses and profits and taxes.

    Follw he money. There are trillions of dollars held overseas so as to not pay US corp taxes on it. If it was easy to only pay 20 percent, they would bring it home. But they would have to pay 40, so overseas it stays.

    16th July 2014 at 5:51 pm

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