SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : View from the Center and Left
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Steve Lokness who wrote (210419)12/4/2012 12:34:54 PM
From: cosmicforce  Read Replies (1) of 543524
 
<highest - corporate taxes in the world>

Only if you ignore the ACTUAL taxes paid.

We also have a tax code that allows multinationals to avoid taxation through cost shifting, moving losses and gains to places where those are particularly favored by the web of complex international taxation. I got a sense of this when I worked abroad. GE has one of the largest wholly-owned "tax firms" in the world - for themselves and pays nothing in taxes. A company can do a lot of gymnastics to avoid payment. Our effective tax rate is more like 18%. The ten most profitable paid 9%. This is more of the regressive taxation endemic in our code of Tax the Poor (in this case corporations). Most "corporations" are small businesses and are poor. And yes, THEIR taxes are high. But this is like Romney's 47% - while they paid no income taxes, they pay more as a percentage of total wealth directly or indirectly in local taxes than anyone. This takes the form of property taxes if they rent, which help set how low rents can be and sales taxes that they can't avoid.

How people who aren't rich back these policies and support continued corporate welfare is beyond me. Are really to believe that these companies will restore jobs to America by lowering their tax rates? I'm an investor and am actually working against my self-interest with my politics. Why? Because it is the right thing to do...
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News