Did you know that USA has the highest Corporate tax in the entire world?
OnlyOneWing
2012/05/29 13:42:13
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3 votes
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43% | ||
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2 votes
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29% | ||
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2 votes
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29% | ||
Corporations in USA are taxed up to 50%. 38% Federal and 12% State. More than any other country in the world... wonder why USA isn't growing while more competitive smaller countries are booming? Yeah, now you know.
Liberals want to raise taxes more and drive more corporations over-seas. With over-taxing and over-regulation.
Liberals want to raise taxes more and drive more corporations over-seas. With over-taxing and over-regulation.
By the way, did any of you know that the NFL is listed as a "non-profit" organization ?
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In 1986, about 24 percent of corporations were what's known as nontaxable businesses -- meaning the companies themselves pay no federal income taxes -- instead passing on the earnings to individual investors to pay taxes on. By 2008, these businesses accounted for about 69 percent of all corporations, a designation that can save companies hundreds of millions of dollars in a single year
Advocates for the business community have expressed frustration with the country's 35 percent corporate income tax rate, calling it unreasonably high. In practice, though, it's common for big businesses to pay much less, thanks to a cornucopia of tax-code loopholes and exemptions won by lobbyists.
The issue of corporate tax participation has become especially pressing in recent years, as the country struggles to manage its ballooning deficits. Corporate taxes for non-financial compa...
By the way, did any of you know that the NFL is listed as a "non-profit" organization ?
_______ _______ _______ _______ _______ _______ ________
In 1986, about 24 percent of corporations were what's known as nontaxable businesses -- meaning the companies themselves pay no federal income taxes -- instead passing on the earnings to individual investors to pay taxes on. By 2008, these businesses accounted for about 69 percent of all corporations, a designation that can save companies hundreds of millions of dollars in a single year
Advocates for the business community have expressed frustration with the country's 35 percent corporate income tax rate, calling it unreasonably high. In practice, though, it's common for big businesses to pay much less, thanks to a cornucopia of tax-code loopholes and exemptions won by lobbyists.
The issue of corporate tax participation has become especially pressing in recent years, as the country struggles to manage its ballooning deficits. Corporate taxes for non-financial companies have fallen more than 13 percent since 2007, according to Bloomberg. At the same time, the national debt grew to $15.23 trillion from $9.13 trillion -- a number larger than the economy itself.
According to a recent analysis of nearly 300 Fortune 500 companies by the Citizens for Tax Justice, the average company was paying just 18.3 percent in taxes -- a little more than half the official rate. And by using techniques like industry subsidies, stock option packages, and moving assets overseas where they can't be taxed, 30 companies mentioned in the report -- including Wells Fargo, Verizon, Boeing and General Electric -- didn't pay a cent in federal taxes in 2008, 2009 or 2010, the report found.
http://www.huffingtonpost.com...
USA was once the land of opportunity. Now it is the land of debt and overbearing government.