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at140

(6,287 posts)

61. Tons of corporations went bankrupt just during last 50 years

Sat Feb 16, 2019, 09:03 PM

Feb 2019

and guess what, other corporations filled in to take care of consumer markets.
Studebaker car company went bankrupt, did that make a shortfall in car supply?

Pan Am went broke, TWA went broke, Continental went broke, yet is there are more
flights today than ever.

Why do we wish to keep poorly run corporations afloat with tax breaks? Why should
you and me and other 150 million tax payers be asked to pay more to make up for
the tax loss carryovers of poorly run corporations? How does that benefit working
Americans who get paychecks get no such benefit? What if I spend more than my
paychecks, should I get a tax break like the corporations.

Believe me we will never run out of corporations to make products and services we need
and are willing to pay for it.

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Amazon will pay $0 in federal income taxes on $11.2 billion in profit..AOC asks WHY [View all] jodymarie aimee Feb 2019 OP

K&R... spanone Feb 2019 #1

Zephyr Teachout explains in this CNN article: Dennis Donovan Feb 2019 #2

According to the Institute on Taxation and Economic Policy riverine Feb 2019 #3

There are so many things wrong with this TexasBushwhacker Feb 2019 #13

The tax code should be changed. Blue_true Feb 2019 #55

really don't understand how this can be justified RussBLib Feb 2019 #42

Not to defend Amazon, but there is a simple explanation bhikkhu Feb 2019 #43

THIS KentuckyWoman Feb 2019 #45

Your last point on how people are taxed relative to corporations is spot on. Blue_true Feb 2019 #58

And this is fair, because even a company that isn't profitable TexasBushwhacker Feb 2019 #63

That may work. radius777 Feb 2019 #83

I've got a large pitch fork. panader0 Feb 2019 #4

I don't blame Amazon. I blame those who enacted the tax laws that made this possible. onenote Feb 2019 #5

notice AOC does not use the word blame, does she? jodymarie aimee Feb 2019 #6

Lawmakers set up the tax code like that because gtar100 Feb 2019 #11

So lawmakers are incapable of resisting? onenote Feb 2019 #24

Depends on their values, no? gtar100 Feb 2019 #25

agreed onenote Feb 2019 #26

If they resist, there is a big price to pay. It is an incesstrous system and always has been. Blue_true Feb 2019 #60

i don't see a conflict in thinking both policy and amazon is wrong. Kurt V. Feb 2019 #12

And Horizens Feb 2019 #21

How did _she_ do that? It's not even in her district. JHB Feb 2019 #30

Headlines Horizens Feb 2019 #35

She seems to think that the $3B deal given to Amazon would be for her district.... Honeycombe8 Feb 2019 #86

Her bringing it to the attention of taxpayers marybourg Feb 2019 #31

Only people who don't read the news didn't know that. Honeycombe8 Feb 2019 #87

That is a very good question DeminPennswoods Feb 2019 #7

Please ... Horizens Feb 2019 #36

Au contraire DeminPennswoods Feb 2019 #84

The answe is clear: the Republican Party! Adrahil Feb 2019 #8

The whole 25,000 jobs thing seems to be a debatable issue.. pangaia Feb 2019 #22

I think that's a fair assessment! NT Adrahil Feb 2019 #27

I lived in Dallas for years...it's a great thing for a big business to move or open there.... Honeycombe8 Feb 2019 #88

Whether or not this is a "loss" to NYC remains to be seen. gtar100 Feb 2019 #23

What's your solution? Adrahil Feb 2019 #28

More direct support for small businesses and gtar100 Feb 2019 #37

Taxation is certainly a reasonable approach... Adrahil Feb 2019 #46

Same can be said for Walmart, Costco, Target and other big retailers gtar100 Feb 2019 #50

Small businesses have crap return policies radius777 Feb 2019 #82

And many prefer big gas-guzzling SUVs and pickup trucks to haul air. gtar100 Feb 2019 #92

NYC has some of the top universities and medical institutions in the world. Blue_true Feb 2019 #62

Exactly so. comradebillyboy Feb 2019 #33

Um... foxconn? The Truth Is Here Feb 2019 #64

I think NYC of all places is the least needng of Amazon. Regardless of that... In It to Win It Feb 2019 #80

I don't believe Amazon is totally innocent. Some of those profits are greasing Congress... PeeJ52 Feb 2019 #9

As long as ANY of these near-monopolies have unfair advantage DemocracyMouse Feb 2019 #20

I'm all for the tax proposals... Adrahil Feb 2019 #47

As long as America keeps building roads to strip malls favoring big biz instead of towns DemocracyMouse Feb 2019 #48

So your plan is to revert to some vision Adrahil Feb 2019 #49

You prefer monopolies? Good luck with that. DemocracyMouse Feb 2019 #81

Gee...I bet a lot of us could make $11+ billion in profit and not pay a dime in taxes... SWBTATTReg Feb 2019 #10

I thought AMT was around too, and it should be n/t TexasBushwhacker Feb 2019 #14

I always worried about it kicking in when I did my taxes w/ my relatively tiny amount of... SWBTATTReg Feb 2019 #17

Corporate AMT has been repealed beginning in 2018 D_Master81 Feb 2019 #16

Thanks for clarifying. By limiting net oper. losses, you mean e.g., ... SWBTATTReg Feb 2019 #19

As someone who prepares tax returns D_Master81 Feb 2019 #15

Was it Reagan or Bush I that took away automobile Blue_true Feb 2019 #65

They are such job creators, they need NY to give them $3 billion IronLionZion Feb 2019 #18

Or spread it around 300 plus startups. Blue_true Feb 2019 #67

I keep seeing that Amazon would get back from the city and the state a portion Autumn Feb 2019 #29

This message was self-deleted by its author Hassin Bin Sober Feb 2019 #40

I think Amazon should behave like most educational institutions. LAS14 Feb 2019 #32

This message was self-deleted by its author Apollyonus Feb 2019 #53

Tell me again why I have to pay taxes? bdtrppr6 Feb 2019 #34

Thank you, AOC, for stating plainly/succinctly enough to make people think more about tax policy. JudyM Feb 2019 #38

Too bad just enough self-identified progressives refused to vote for the Democratic nominee in 2016 still_one Feb 2019 #39

And their warehouse workers are treated like robots. Garrett78 Feb 2019 #41

I am sorry for any job loss in NY marlakay Feb 2019 #44

Nashville is happy Amazon is coming redstateblues Feb 2019 #77

I wish someone would answer that question fescuerescue Feb 2019 #51

Maybe instead of asking Amazon, AOC can walk down to McCarthy's office and corner him. Blue_true Feb 2019 #52

There is an extremely simple solution to cure tax avoidance.. at140 Feb 2019 #54

What if they are losing money? Apollyonus Feb 2019 #57

Tons of corporations went bankrupt just during last 50 years at140 Feb 2019 #61

You are missing the point Apollyonus Feb 2019 #66

Every small start-out deserves 3 years grace period at140 Feb 2019 #73

You make some good points. Blue_true Feb 2019 #71

The "Deep enough pockets" effect. Blue_true Feb 2019 #69

+1 n/t Apollyonus Feb 2019 #70

If the product/service has demand in the market place at140 Feb 2019 #72

There is demand for software, demand for good shampoo, demand for good toothpaste. Blue_true Feb 2019 #74

Business is not that simple. Blue_true Feb 2019 #68

IRS gives tax credit to INDIVIDUALS for at140 Feb 2019 #76

The way that any business works makes taxing gross revenue problematic. Blue_true Feb 2019 #78

No. The answer is to lessen or remove some of the deductions. Honeycombe8 Feb 2019 #85

May be, but it still makes it complicated because at140 Feb 2019 #89

It is probably because Apollyonus Feb 2019 #56

this because they are subsidized scarytomcat Feb 2019 #59

I think Amazon started up in 1993, 1994 or 1996. Blue_true Feb 2019 #75

yes ... and dump has also been carrying his bankruptcy and business loses forward scarytomcat Feb 2019 #90

I like the idea of a wealth tax. Blue_true Feb 2019 #91

Wanna confuse the RWers? In It to Win It Feb 2019 #79