That is not true and you know it. This statement:
BTW an interesting thing I discovered there was that corporate taxes in california are at 1994 levels (below that actually).
You've seen the actual disproof before and apparently are intentionally ignoring it. Just to remind you, here it is again:
Message 19449311
You took one data point - 2002 - and used it to generalize and what has happened over the last 50 years. In fact, as is pointed out in that post, corporate taxes have increased pretty steadily their inception - as would be expected.
every other post was telling me how WRONG (always caps) I was about something
But in fact you WERE wrong. Does that count for nothing?
and those are the same folks who appear to be cohabitating on the AS thread.
AS simply makes up charges and then refuses to back them up. I prove that charge in spades.
Companies like Intel who complain and complain bitterly about taxes actually pay very little and California's tax structure also gave intel an incredible real estate investment bonanza, to boot.
Part of that obviously has to do with Prop 13. Tough. Voters knew what they were passing when they passed it. Was it a compromise? Yes. What legislation isn't? The authors put multiple gimmes in it to attract different classes of voters. But the text of the proposed law was in the voter's pamphlet in full as required by law and the opposition pounded on the points they thought weak. And it passed anyway. Get used to it.
Companies like Intel who complain and complain bitterly about taxes actually pay very little
Care to back that up? My take is below.
The whole system of corporate taxes at least in CA rests on the assumption that employees would pay most of the taxes
The taxation system nationwide rests on that. Corporations don't pay taxes; they collect them.
The worst one is oracle, they should just move away.
TS. They aren't going to. Get used to that too.
INTEL FINANCIALS:
PERIOD ENDING 28-Dec-02 29-Dec-01 30-Dec-00
Total Revenue 26,764,000 26,539,000 33,726,000
Cost of Revenue 13,446,000 13,487,000 12,650,000
Gross Profit 13,318,000 13,052,000 21,076,000
Operating Expenses
Research Development 4,034,000 3,994,000 4,006,000
Selling General and Administrative 4,334,000 4,464,000 5,089,000
Non Recurring 20,000 - -
Others 548,000 2,338,000 1,586,000
Total Operating Expenses 8,936,000 - -
Operating Income or Loss 4,382,000 2,256,000 10,395,000
Income from Continuing Operations
Total Other Income/Expenses Net (94,000) (17,000) 4,746,000
Earnings Before Interest And Taxes 4,288,000 2,239,000 15,141,000
Interest Expense 84,000 56,000 -
Income Before Tax 4,204,000 2,183,000 15,141,000
Income Tax Expense 1,087,000 892,000 4,606,000
Minority Interest - - -
Net Income From Continuing Ops 3,117,000 1,291,000 10,535,000
Non-recurring Events
Discontinued Operations - - -
Extraordinary Items - - -
Effect Of Accounting Changes - - -
Other Items - - -
Net Income 3,117,000 1,291,000 10,535,000
Preferred Stock And Other Adjustments - - -
Net Income Applicable To Common Shares $3,117,000 $1,291,000 $10,535,000
finance.yahoo.com
Depending on which year you pick. INTC paid approximately 25% to 40% od its before-tax income as taxes. That does not strike me as a drop in the bucket. |
