General Discussion

Man from Pickens

(1,713 posts)

48. It's the loopholes, stupid

Tue Sep 23, 2014, 05:03 PM

Sep 2014

They will simply move on to the next loophole.

Let's start with the big picture - how is it that almost all of the largest corporations in the US pay little to no taxes, and in some case actually "pay" negative taxes? Especially since the US now has the highest (nominal) corporate tax rate in the world?

It's because the tax code has been overwhelmingly engineered to produce these outcomes. Those corporations sitting on the outside, not able to exert enough pull to get the tax code changed to their advantage, are subsidizing all the others - often even their own competitors.

Make the code simple enough that any citizen can check a company's profits and calculate how much they should correctly be paying in taxes with a single, simple equation. This level of simplicity is needed to restore some level of honesty to the system.

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Highlight:

BREAKING: Obama to take executive actions to make it more difficult for corporations to dodge taxes [View all] Cali_Democrat Sep 2014 OP

K&R nt Andy823 Sep 2014 #1

KnR sheshe2 Sep 2014 #2

K & R big time. lovemydog Sep 2014 #3

More proof that the people who say Obama is just like Bush are FUCKING INSANE. baldguy Sep 2014 #4

^^^THIS^^^ FSogol Sep 2014 #7

amen! LawDeeDah Sep 2014 #33

k&r Starry Messenger Sep 2014 #5

I'll believe it when it happens. 99Forever Sep 2014 #6

I'm with you eom marym625 Sep 2014 #9

The rules are in place stating today. nt Cali_Democrat Sep 2014 #11

Save your breath, Cali.. that one gets on President Obama Cha Sep 2014 #23

excuse me? marym625 Sep 2014 #58

I was not referring to you, marym. Cha Sep 2014 #64

Glad to hear that marym625 Sep 2014 #65

Oh I see what you mean.. my bad. Sorry! Cha Sep 2014 #66

Thank you marym625 Sep 2014 #68

The rules are in place starting today and even include pending deals Cali_Democrat Sep 2014 #10

I'm less interested in "rules" than results. 99Forever Sep 2014 #12

I don't think you even read the articles. nt Cali_Democrat Sep 2014 #13

The proof isn't in "the articles," it's out here in the real world. 99Forever Sep 2014 #14

LOL Cali_Democrat Sep 2014 #15

And you'd be fucking wrong. 99Forever Sep 2014 #16

my goodness marym625 Sep 2014 #18

I don't suffer fools that... 99Forever Sep 2014 #20

Yeah, I hate that... marym625 Sep 2014 #21

There is no opposing point in saying, "I'll believe it when I see it..." Drunken Irishman Sep 2014 #57

The point was marym625 Sep 2014 #59

The point was to be snarky and rude and dismiss Obama. Drunken Irishman Sep 2014 #60

They also said marym625 Sep 2014 #61

probably the worst of the bunch bobduca Sep 2014 #67

Maybe you'd prefer that Obama use his secret weapon instead of executive actions. randome Sep 2014 #27

FFS treestar Sep 2014 #36

Because Obama is a dictator? So if you don't see close to what you want and congress is standing in uponit7771 Sep 2014 #41

Let the excuses begin. 99Forever Sep 2014 #42

lol... congress is standing in the way = Obama to blame = bashing... more non objective critique uponit7771 Sep 2014 #62

Agreed cantbeserious Sep 2014 #46

K&R. n/t FSogol Sep 2014 #8

great flamingdem Sep 2014 #17

Why don't these Owners of corps who want to avoid "the high US tax rate" go live somewhere else? Cha Sep 2014 #19

Good. bigwillq Sep 2014 #22

Now, where's that emoticon? woo me with science Sep 2014 #24

CBC: Tim Hortons, Burger King merger fallout: U.S. cracks down on tax inversions pampango Sep 2014 #25

I agree with the Republicans in this case, as far as their alternate suggestion whatthehey Sep 2014 #28

It seems to me that the counties with lower corporate taxes have few exemptions so that pampango Sep 2014 #29

AstraZeneca, Shire dive as U.S. tax move punctures deal hopes dipsydoodle Sep 2014 #38

I would raise taxes to 35% after the first million& give huge tax breaks for hiring in the US librechik Sep 2014 #37

I got your back Mr. President madokie Sep 2014 #26

It's not the fucking law, it's the philosophy Atman Sep 2014 #30

excellent! marym625 Sep 2014 #69

Great. Now enforce it. n/t malthaussen Sep 2014 #31

Excellent!! Pisces Sep 2014 #32

YAY!! I knew he could. librechik Sep 2014 #34

Now we just need to keep the republicans from taking the Senate. GoCubsGo Sep 2014 #35

Good but does "reduce the benefits" mean they still benefit? grahamhgreen Sep 2014 #39

FFS! littlemissmartypants Sep 2014 #40

Exactly. It's the former middle class. progressoid Sep 2014 #49

WTF BlueJac Sep 2014 #43

Good, since the teabaggin' Congress won't close the tax loopholes. muntrv Sep 2014 #44

K & R Iliyah Sep 2014 #45

Encouraging colsohlibgal Sep 2014 #47

It's the loopholes, stupid Man from Pickens Sep 2014 #48

K&R...Thanks for posting red dog 1 Sep 2014 #50

Better late than Never, Financial Terrorists . orpupilofnature57 Sep 2014 #51

Nice. The GOP is going to LOVE this. :) C Moon Sep 2014 #52

Hey! I hear Bernie Sanders has much more influence, and mucho "connections" than Obama. Wouldn't Tarheel_Dem Sep 2014 #53

High US tax rate that none of them pay AllyCat Sep 2014 #54

Sounds like a plan .. luck! Lenomsky Sep 2014 #55

Shove the buy American act down their throats Mnpaul Sep 2014 #56

See i we hear anymore about it after the elections are over. dmosh42 Sep 2014 #63