Comments on: 66% Of American Corporations Pay Zero Federal Income Tax.

By: My thoughts on Obama & Republicans - Page 4

My thoughts on Obama & Republicans - Page 4 — Mon, 14 Sep 2009 19:09:52 +0000

[...] Posted by red55 66% Of American Corporations Pay Zero Federal Income Tax. You cite an article that says that 66% pay zero in taxes and have 2.5 trillion in revenue. For [...]

By: My thoughts on Obama & Republicans - Page 3

My thoughts on Obama & Republicans - Page 3 — Mon, 14 Sep 2009 18:51:44 +0000

[...] some evidence supporting the claim. Broad and inacurate generalizations often get dismissed. 66% Of American Corporations Pay Zero Federal Income Tax. __________________ "Just the omission of Jane Austen's books alone would make a fairly [...]

By: philmon

philmon — Tue, 21 Apr 2009 14:57:00 +0000

Corporations do pay taxes, and the rate is higher than the normal income tax.

What’s being hidden here by unexplained statistics is that there are lots and lots of startup corporations that aren’t making a profit. In any given year, there could be that many, or certainly enough to pump the number up to what seems to be an outrageous high — corporations who break even or lose money … that year. If you don’t make money, you don’t pay taxes on the money.

The people who create and run corporations take huge risks. They often lose. But this is how real jobs get created. To discourage buisinesses from starting up and creating more jobs by taking the financial incentive away from the owner is counterproductive. Fewer jobs, smaller tax base, less money for the government.

By: Schmoo

Schmoo — Mon, 20 Apr 2009 11:58:19 +0000

@Jeff: “Rather then being upset with this “problem” why not just figure out how to play the system?”

You’re a banker, aren’t you?

By: paying federal income tax | Federal Income Tax

paying federal income tax | Federal Income Tax — Mon, 16 Mar 2009 15:59:57 +0000

[...] 66% Of American Corporations Pay Zero Federal Income Tax. | My Two … Aug 13, 2008 … And that really irritates me. Here are the rest of us, from the the family of four having trouble paying for college education to your …www.mytwodollars.com [...]

By: Nathan

Nathan — Thu, 29 Jan 2009 20:46:55 +0000

That 66% means nothing if we’re going to complain about tax avoidance. Most of those companies are not avoiding taxes at all- they are simply not taxable entities (Non-profit, S-corp, LLC, etc).

Is that unfair? Does that mean they are making an income without paying taxes on it? Absolutely not. Every single individual who receives any kind of compensation, whether in wages or dividends, from the corporation (public or private), will be paying taxes on that income. It simply goes on their personal tax return.

Does that mean the little guy foots the bill? Again, no. It’s quite the opposite. Here are the numbers:

* According to data from the IRS, the bottom 50 percent of income earners pay approximately 4 percent of income taxes.
* The top 25 percent of income earners pay nearly 83 percent of the income tax burden, and the top 10 percent pay 65 percent.
* The top 1 percent of income earners pay almost 35 percent of all income taxes.
* The top 400 richest Americans paid 1.58 of total income taxes in 2000.

(Those are from http://taxesandgrowth.ncpa.org/news/do-the-rich-and-businesses-pay-their-fair-share)

By: Alvis Jenkins

Alvis Jenkins — Mon, 22 Dec 2008 01:00:52 +0000

66% of all corporations pay no income tax!

Well the only corporations that are required to pay are federal corporations. Tampa Electric Company, Florida Power, Progress Energy, are nonfederal corporations and are not required to pay one cent of federal income tax. Know the Code and you know why only federal entities are the only one’s required to pay over the tax. Not even the American people are required to pay the tax, however they do but it is by “election” to voluntarily comply.

Alvis Jenkins, Plant City, Florida

By: Weekly Round-Up: New Logo Edition | Green Panda Treehouse

Weekly Round-Up: New Logo Edition | Green Panda Treehouse — Sun, 24 Aug 2008 02:28:17 +0000

[...] 66% Of American Corporations Pay Zero Federal Income Tax. @ My Two Dollars [...]

By: Don’t Feed the Alligators » Blog Archive » Weekly Feeding 8-23-2008

Sat, 23 Aug 2008 15:40:39 +0000

[...] spirited discussion follow David’s post on the large percentage of American corporations that pay no federal income taxes. The biggest point that I would like to make here is that if you’re going to argue with [...]

By: david

david — Mon, 18 Aug 2008 16:27:57 +0000

Pretty funny Alligators…

Jon – Who cares? Seriously? So do you care if none of the rest of us pay taxes either?