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vkkv

(3,384 posts)
Wed Apr 13, 2016, 05:40 PM Apr 2016

Two-thirds of U.S. corporations did not pay federal income tax. GAO Report

Source: HuffPo

A new government report shows just how easy corporate America has it.

Every year from 2006 to 2012, some two-thirds of U.S. corporations did not pay federal income tax, according to a Government Accountability Office study released on Wednesday. In 2012 alone, 42.5 percent of businesses that the GAO defines as large did not pay federal taxes, including 19.5 percent of big corporations that posted a profit.

Read more: http://www.huffingtonpost.com/entry/gao-study-profitable-corporations-no-federal-taxes_us_570e6c62e4b0ffa5937dbadb




Bastards.
64 replies = new reply since forum marked as read
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Two-thirds of U.S. corporations did not pay federal income tax. GAO Report (Original Post) vkkv Apr 2016 OP
but we have the highest tax rate on the planet saturnsring Apr 2016 #1
You forgot to add !!1111!1!!11 PSPS Apr 2016 #5
And this. KamaAina Apr 2016 #7
Which means we get to add..... daleanime Apr 2016 #18
Actually, US corporate taxes are fairly low, compared to other countries Baobab Apr 2016 #34
Chart is different than point - apples and oranges Justice Apr 2016 #36
Looks like the repubs are lying through thier teeth, as usual. Kingofalldems Apr 2016 #49
Imagine that. Enthusiast Apr 2016 #55
Thanks for posting. nm rhett o rick Apr 2016 #44
Sweden 2.6%, USA 2.3%, but oh no, we can't be like Sweden, their taxes are too high! Socialism!!! thereismore Apr 2016 #50
US military spending eats up what we otherwise woud be spending on schools and social insurance Baobab Apr 2016 #53
President Obama said. Enthusiast Apr 2016 #54
Thank you, Bernie Sanders for requesting this report from the GAO so we Americans can know. Kip Humphrey Apr 2016 #2
This is reverse Robin Hood. The poor are footing the bill for the rich. Gregorian Apr 2016 #3
It's called the Dooh Nibor principle ... aggiesal Apr 2016 #60
Oh no. I Googled that. Gregorian Apr 2016 #63
Figured it out, did you? ... aggiesal Apr 2016 #64
Republican corporate welfare AxionExcel Apr 2016 #4
Love it!! Duppers Apr 2016 #10
"only the little people pay taxes". thank you, Leona for making that clear for us! ish of the hammer Apr 2016 #6
From the Same Article...one of our Democratic Candidates! (thanks vkkv!) kadaholo Apr 2016 #8
What did Hillary say? Scuba Apr 2016 #37
She said . . . Curtis Apr 2016 #40
Ya know what else is [crickets]? bullsnarfle Apr 2016 #42
Yep Curtis Apr 2016 #51
In public she said, " I don't approve of the fact that some corporations don't rhett o rick Apr 2016 #45
Spot on! Optimism Apr 2016 #47
The Clintons don't really like the poor. Ending welfare, throwing them into Prisons For Profits. rhett o rick Apr 2016 #62
There needs to be a carbon tax, damn it. TryLogic Apr 2016 #9
and yet we cant afford single payer , you fill in the blank for your fave program . allan01 Apr 2016 #11
I'm with you allan01 MrMickeysMom Apr 2016 #33
We also have to pay obscene prices for drugs a slower internet. Enthusiast Apr 2016 #56
Unfucking real. I mean, is this something Hillary would say. I know Bernie would. And to have these highprincipleswork Apr 2016 #12
Thieves. 840high Apr 2016 #13
But, sequestration... Lars39 Apr 2016 #14
K & R !!! to the Max... Thespian2 Apr 2016 #15
Do any of them pay state income taxes? jwirr Apr 2016 #16
Time to remove all the loop holes Matthew28 Apr 2016 #17
"But these corporations would just pass the cost along to their customers Fritz Walter Apr 2016 #19
I know! Let's elect a corporate shill as President! Phlem Apr 2016 #20
Just what I was thinking. Enthusiast Apr 2016 #57
Why is it only up to 2012? OnlinePoker Apr 2016 #21
Wonder how many of those got a subsidy rurallib Apr 2016 #22
REVOLUTION RecoveringJournalist Apr 2016 #23
TAXES ARE FOR THE little people. Octafish Apr 2016 #24
Deadbeat Corporations Need Punishing- appalachiablue Apr 2016 #25
This is such feel good news...as we fill out our tax returns to, you know, actually pay FailureToCommunicate Apr 2016 #26
ZERO taxes is way too high. Why aren't we PAYING THEM to be in business? KentuckyWoman Apr 2016 #27
Torch and Pitchfork Wielders of the World Unite!!! moondust Apr 2016 #28
And, these are the BIG corporations zalinda Apr 2016 #29
Because they had to put their profits in tax havens. nt valerief Apr 2016 #30
In the mean time, a higher percentage of our Social Security payments is taxed both Fed and NC State mnhtnbb Apr 2016 #31
The Tax Code has to be changed... Deuce Apr 2016 #32
We need a Teddy ("carry a big stick") Roosevelt, a Franklin Delano Roosevelt... Peace Patriot Apr 2016 #35
Break up, not only the too big to fail banks. But also the giant telecommunications companies. Enthusiast Apr 2016 #58
Not to mention the ones that also got massive government subsidies on top of not paying any taxes, Gene Debs Apr 2016 #38
They took that money from the workers first. Then the rest of the country, n/t jtuck004 Apr 2016 #39
Wow! Two thirds pay nothing! summerschild Apr 2016 #41
time for the working class that carries hopemountain Apr 2016 #43
It is their solemn duty to shareholders to avoid paying taxes and screw the little people. tclambert Apr 2016 #46
Time to change the laws. n/t eShirl Apr 2016 #52
It begs the question: Why is any corporation paying any taxes at all? If not paying is legal, are thereismore Apr 2016 #48
We aren't broke We're being Robbed Ferd Berfel Apr 2016 #59
Come on somebody: leak the Caribbean Islands information. How about the USG offering a NCjack Apr 2016 #61

Baobab

(4,667 posts)
34. Actually, US corporate taxes are fairly low, compared to other countries
Thu Apr 14, 2016, 12:09 AM
Apr 2016
http://ctj.org/ctjreports/2016/04/us_corporate_taxes_are_below_developed_country_average.php


Corporate income taxes in the United States as a share of the economy are significantly less than the average among developed nations, according to an analysis of the most recent data from the Organization for Economic Cooperation and Development (OECD). Data from the Treasury Department show that U.S. corporate taxes as a percentage of GDP are 2.3 percent, which is 15 percent less than the 2.7 percent weighted average among the other 32 OECD countries for which data are available.


Justice

(7,188 posts)
36. Chart is different than point - apples and oranges
Thu Apr 14, 2016, 04:35 AM
Apr 2016

GOP repeatedly says US has 'highest tax rate' for corporations.

Rate is meaningless - it's what you actually pay that matters. That is the point of the original post.

Your point is also good.

Baobab

(4,667 posts)
53. US military spending eats up what we otherwise woud be spending on schools and social insurance
Thu Apr 14, 2016, 03:15 PM
Apr 2016

actually, single payer would cost around what we are spending now. (2/3 of every health care dollar is paid by the government now in 2016! Shhh!)

So we could have all those things with very little or no tax increases right now if we just eliminated the limit on income figured into social security and spent less on military and wars.

especially spent less on military


Sources:

The Current and Projected Taxpayer Shares of US Health Costs
David U. Himmelstein, MD, and Steffie Woolhandler, MD, MPH

http://ajph.aphapublications.org/doi/full/10.2105/AJPH.2015.302997

Objectives. We estimated taxpayers’ current and projected share of US health expenditures, including government payments for public employees’ health benefits as well as tax subsidies to private health spending.

Methods. We tabulated official Centers for Medicare and Medicaid Services figures on direct government spending for health programs and public employees’ health benefits for 2013, and projected figures through 2024. We calculated the value of tax subsidies for private spending from official federal budget documents and figures for state and local tax collections.

Results. Tax-funded health expenditures totaled $1.877 trillion in 2013 and are projected to increase to $3.642 trillion in 2024. Government’s share of overall health spending was 64.3% of national health expenditures in 2013 and will rise to 67.1% in 2024. Government health expenditures in the United States account for a larger share of gross domestic product (11.2% in 2013) than do total health expenditures in any other nation.

Conclusions. Contrary to public perceptions and official Centers for Medicare and Medicaid Services estimates, government funds most health care in the United States. Appreciation of government’s predominant role in health funding might encourage more appropriate and equitable targeting of health expenditures.




aggiesal

(8,917 posts)
64. Figured it out, did you? ...
Fri Apr 15, 2016, 02:08 PM
Apr 2016

Robin Hood spelled backwards.

And yes there is such a principle.
Dooh Nibor is the stealing from the poor to give to the rich.
Robin Hood in reverse. Hence Dooh Nibor.

ish of the hammer

(444 posts)
6. "only the little people pay taxes". thank you, Leona for making that clear for us!
Wed Apr 13, 2016, 06:36 PM
Apr 2016

and an investment of 153 million dollars to keep from paying taxes is WELL worth the potential payback of Billions.

kadaholo

(304 posts)
8. From the Same Article...one of our Democratic Candidates! (thanks vkkv!)
Wed Apr 13, 2016, 06:50 PM
Apr 2016

"Democratic presidential candidate Sen. Bernie Sanders (I-Vt.), who requested the report, immediately condemned the findings and touted legislation he has co-sponsored to curb corporate tax avoidance.

'There is something profoundly wrong in America when one out of five profitable corporations pay nothing in federal income taxes,' Sanders said in a statement."

THANKS (AGAIN!) BERNIE! A CANDIDATE WHO TRULY CARES!

Curtis

(348 posts)
40. She said . . .
Thu Apr 14, 2016, 11:07 AM
Apr 2016

<crickets>
.
.
.
.
.
.
.
</crickets>

Pretty much the same thing she always does to us. Bet she had a lot of advice for Goldman Sachs though

 

rhett o rick

(55,981 posts)
45. In public she said, " I don't approve of the fact that some corporations don't
Thu Apr 14, 2016, 01:39 PM
Apr 2016

appear to sometimes pay as much taxes as what should possibly be paid, as least part of the time. I will work very, very hard to explain to the corporations how important it is to give the appearance of supporting the economy. And if they continue the appearance of not always paying the total of what might be expected, I will shake my finger and tell them in no uncertain terms to "cut it out".

In private she says, "As President I guarantee that I will never support anything that might impinge on your profits. Make checks payable to Clinton Cash and have them bring my car around."

Optimism

(142 posts)
47. Spot on!
Thu Apr 14, 2016, 02:37 PM
Apr 2016

Meanwhile the Clinton Welfare Bill kicks thousands off of food stamps.

Bernie MUST win New York !! The FBI MUST release their findings SOON !!

 

rhett o rick

(55,981 posts)
62. The Clintons don't really like the poor. Ending welfare, throwing them into Prisons For Profits.
Thu Apr 14, 2016, 08:26 PM
Apr 2016

It's all about greed. The Clinton Family Wealth is currently at about $150,000,000 and climbing. We need an electric indicator that shows the Clinton Family Wealth as it grows and grows. And to think, they really haven't tapped into the huge wealth in their Foundation. I think they are saving it as a retirement plan.

TryLogic

(1,723 posts)
9. There needs to be a carbon tax, damn it.
Wed Apr 13, 2016, 06:53 PM
Apr 2016

A tax on energy used to obtain raw materials, energy to manufacture, and energy to transport regardless where in the world an item is constructed.

allan01

(1,950 posts)
11. and yet we cant afford single payer , you fill in the blank for your fave program .
Wed Apr 13, 2016, 06:55 PM
Apr 2016

these ones use our radio waves , roadways , public water , and so fourthe . deny them these basic services .

 

highprincipleswork

(3,111 posts)
12. Unfucking real. I mean, is this something Hillary would say. I know Bernie would. And to have these
Wed Apr 13, 2016, 06:59 PM
Apr 2016

articles show clearly spell out what the GAO says is true.

Matthew28

(1,798 posts)
17. Time to remove all the loop holes
Wed Apr 13, 2016, 07:26 PM
Apr 2016

And make them pay their taxes!!!! Then we can fund infrastructure, science, r&d and education right. Greedy bastards.

Fritz Walter

(4,291 posts)
19. "But these corporations would just pass the cost along to their customers
Wed Apr 13, 2016, 07:43 PM
Apr 2016

...and how is that fair?"
Or so goes the standard Chamber of Commerce response, and that's usually sufficient for their legislative lap dogs to fall in line.
I call 'Bullshit' on that argument. Setting aside for the moment their lack of empirical evidence to support that view, "fairness" has never been a determining factor in board rooms across this country. It's all about the bottom line and the ROI for investors, including and especially board members and officers of said corporations.
And that tone-deafness is what drives the grassroots movement behind Bernie Sanders' campaign -- we're "so sick and tired of the lies...!"
And before the Hillarites take umbrage at this comment, I would politely but firmly ask to see the script/transcript of what she said to Goldman Sachs corporatistas and her 'white noise' donors in Colorado.
Prove me wrong.

OnlinePoker

(5,722 posts)
21. Why is it only up to 2012?
Wed Apr 13, 2016, 07:44 PM
Apr 2016

I would think the GAO would have access to tax records for all of the past tax seasons as well. I know you have to have an end date, but we're almost through another year.

zalinda

(5,621 posts)
29. And, these are the BIG corporations
Wed Apr 13, 2016, 09:23 PM
Apr 2016

the mom and pop corporations who employ a huge number of people make up for what the big guys don't pay. I don't understand why people in business don't understand this.

Z

mnhtnbb

(31,392 posts)
31. In the mean time, a higher percentage of our Social Security payments is taxed both Fed and NC State
Wed Apr 13, 2016, 10:38 PM
Apr 2016

I couldn't believe the difference between last year and this year. Both my husband and I
collect SS. Last year about 1/3 of our SS payments were taxed: this year 2/3 were taxed.
And of course, no COL increase this year.

Peace Patriot

(24,010 posts)
35. We need a Teddy ("carry a big stick") Roosevelt, a Franklin Delano Roosevelt...
Thu Apr 14, 2016, 12:59 AM
Apr 2016

...("Organized money hates me--and I welcome their hatred!&quot , a Harry Truman (he'd strangle these jokers with his own hands for being traitors to the USA).

We need someone to KICK BUTT in the nation's board rooms--wherever their headquarters may be located these days. We need a transglobal butt kicker. We need a tough kid from Brooklyn who will chain himself to a black woman on the streets of Chicago and thinks nothing of getting roughed up and arrested by Chicago cops.

We need...we need...oh, yeah, oh hey! Miracles DO happen! We are a blessed country, indeed, for the leaders who have arisen when we needed them.

We need BERNIE SANDERS! And here he is, running for president! Our trust-busting Teddy Roosevelt. Our hated-by-organized money FDR. Our Taft-Hartley-hating tough little guy from Missouri. All wrapped up in one.

GO BERNIE!

Enthusiast

(50,983 posts)
58. Break up, not only the too big to fail banks. But also the giant telecommunications companies.
Thu Apr 14, 2016, 04:09 PM
Apr 2016

The giant drug companies. The giant oil companies. Etc.

 

Gene Debs

(582 posts)
38. Not to mention the ones that also got massive government subsidies on top of not paying any taxes,
Thu Apr 14, 2016, 10:45 AM
Apr 2016

which made their effective tax rate not only zero, but in the negative column.

hopemountain

(3,919 posts)
43. time for the working class that carries
Thu Apr 14, 2016, 01:27 PM
Apr 2016

this nation to stand up and have their votes counted and their voices heeded.

tclambert

(11,087 posts)
46. It is their solemn duty to shareholders to avoid paying taxes and screw the little people.
Thu Apr 14, 2016, 02:30 PM
Apr 2016

If a CEO willingly had his corporation pay more taxes than they had to, or lobbied for higher taxes for corporations, Wall Street and his companies investors would oust him and probably sue him. Yes, Ayn Randers, the profit motive does sometimes incentivize evil behavior. There are good reasons for greed to be one of the seven deadly sins.

thereismore

(13,326 posts)
48. It begs the question: Why is any corporation paying any taxes at all? If not paying is legal, are
Thu Apr 14, 2016, 02:51 PM
Apr 2016

the paying ones just stupid? Not clever enough? Too lazy? They might be in for a huge refund if they cared!

This is

Ferd Berfel

(3,687 posts)
59. We aren't broke We're being Robbed
Thu Apr 14, 2016, 04:57 PM
Apr 2016

Have to ask yourself which candidate will even TRY to fix this.............

NCjack

(10,279 posts)
61. Come on somebody: leak the Caribbean Islands information. How about the USG offering a
Thu Apr 14, 2016, 05:42 PM
Apr 2016

reward for the information.

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