Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (622760)	8/4/2011 9:44:01 AM
From: Alighieri	Read Replies (1) of 1579772

I share your doubt that they paid that much in normal corporate income tax to the US federal government, but it might be accurate, if it includes when they where slammed with a "windfall profits tax" on top of ordinary corporate income taxes, and it includes taxes paid to foreign and state governments. No, he's playing fast and loose with the facts again...he has a history of it. My guess is that the numbers include payroll taxes and likely some of the taxes paid by end consumers...we were however talking about INCOME TAXES... In any case the total amount of taxes paid, including all of those and the taxes on refined oil products, and fees paid to governments, far exceeds the profits of the oil companies. If you include all of those the lions share of the profit goes to governments, the effective tax rate paid is well over 50%. One would have to decompose all that to comment...for instance oil companies have long maintained that royalties paid to foreign governments represent foreign taxes...and the like....my point simply was that the tax code is too complex and filled with special provisions...it needs to be simplified and made fair-er...of course it's impossible to have that debate with someone like inode who strut and managing little more than a pathetic display of insecurity... Al

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