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PARTISAN HACK

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GAO: Most U.S. and Foreign Corporations Don't Pay Income Tax

News Type: Event — Seeded on Tue Aug 12, 2008 2:48 PM EDT
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The Government Accountability Office is set to release a report that says most U.S. corporations pay no federal income taxes.

And most foreign companies that do business in the United States aren't paying corporate taxes.

The study says about two-thirds of American corporations paid zero income taxes to Uncle Sam between 1998 and 2005.

An even higher percentage of foreign corporations avoided federal corporate taxes. At the same time, said the GAO, the firms had trillions of dollars in sales.

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{"commentId":2434263,"authorDomain":"partisanhack"}
Partisan Hack

Hmm, let's see, we pay fuel taxes on our gasoline so corporations can ship stuff on free roads, we pay income taxes because they don't and the rich wiggle out of most taxes...

I guess Leona Helmsley was right. Only little people pay taxes. Under Republicans, at least.

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  • 4 votes
Reply#1 - Tue Aug 12, 2008 2:51 PM EDT
{"commentId":2434794,"authorDomain":"energynet"}
energynet

The BBC did a report about this on a similar scandal in the UK.

Good find!

{"commentId":2434794,"threadId":"330572","contentId":"1742658","authorDomain":"energynet"}
  • 4 votes
Reply#2 - Tue Aug 12, 2008 3:45 PM EDT
{"commentId":2437932,"authorDomain":"partisanhack"}
Partisan Hack

Surprised that there were no bites on this. Guess the libertarians don't like to hear the truth...

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  • 3 votes
#2.1 - Tue Aug 12, 2008 8:52 PM EDT
{"commentId":2462343,"authorDomain":"deatienza"}
Eric Atienza
Guess the libertarians don't like to hear the truth...

To be fair, most Libertarians I've talked to hate the concept of the corporation since it's a governmental construct and it muddles with the "free market".

{"commentId":2462343,"threadId":"330572","contentId":"1742658","authorDomain":"deatienza"}
  • 2 votes
#2.2 - Fri Aug 15, 2008 9:54 AM EDT
{"commentId":2462696,"authorDomain":"partisanhack"}
Partisan Hack
To be fair, most Libertarians I've talked to hate the concept of the corporation since it's a governmental construct and it muddles with the "free market".

Yes, yet when you try to pin a libertarian as to what we should do with corporations they start muttering into their beers. It's a sham as far as I can see, they're just proud of being selfish and they want nobody to stand in the way of their narcissistic selfishness.

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  • 1 vote
#2.3 - Fri Aug 15, 2008 10:20 AM EDT
Reply
{"commentId":2462239,"authorDomain":"chum"}
Chum
"It's shameful that so many corporations make big profits and pay nothing to support our country," Dorgan said.
{"commentId":2462239,"threadId":"330572","contentId":"1742658","authorDomain":"chum"}
  • 3 votes
Reply#3 - Fri Aug 15, 2008 9:47 AM EDT
{"commentId":2462660,"authorDomain":"partisanhack"}
Partisan Hack
"It's shameful that so many corporations make big profits and pay nothing to support our country," Dorgan said.

And, more to the point, expect huge corporate welfare when they fail to make a profit because of their own corruption and incompetence.

We are supposed to have a government of, by and for the people that charters corporations to serve the public good. Nowhere does it say in our Constitution that we are supposed to be a government of, by and for the corporations.Unless corporations pay their fair share of taxes and submit to the rule of law then they have no right to be "artificial persons" chartered by our states. If they want to have the same human rights as citizens then they should have the same responsibilities as citizens.

{"commentId":2462660,"threadId":"330572","contentId":"1742658","authorDomain":"partisanhack"}
  • 1 vote
#3.1 - Fri Aug 15, 2008 10:17 AM EDT
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