Mainecat Posted January 14, 2023 Share Posted January 14, 2023 Corporate welfare…. 34% of Big, Profitable US Corporations Paid $0 in Federal Taxes in 1st Year of Trump Tax Law A study released Friday by the Government Accountability Office found that more than a third of large, profitable corporations in the United States paid nothing in federal income taxes in 2018, the year the regressive Trump-GOP tax cuts took effect. The GAO analysis, commissioned by Sen. Bernie Sanders (I-Vt.), showed that "average effective tax rates—the percentage of income paid after tax breaks—among profitable large corporations fell from 16% in 2014 to 9% in 2018." According to the GAO, the share of profitable large corporations that owed $0 in federal income taxes after credits rose from around 22% in 2014 to 34% in 2018. "Each year from 2014-2018, about half of large corporations and a quarter of profitable ones didn't owe federal taxes," the GAO noted. "For example, profitable corporations may not owe taxes due to prior years' losses." The Tax Cuts and Jobs Act, which former President Donald Trump signed into law in December 2017, slashed the corporate tax rate from 35% to 21% and authorized a slew of other giveaways that made it easier for large businesses and wealthy individuals to lower their tax bills. https://www.commondreams.org/news/corporations-trump-tax-law Quote Link to comment Share on other sites More sharing options...
SkisNH Posted January 14, 2023 Share Posted January 14, 2023 The LLC pass through saved me enough that a bought a truck.... Thank you MAGA 3 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted January 14, 2023 Platinum Contributing Member Share Posted January 14, 2023 Common Dreams, is a 501(c)(3) nonprofit, U.S.-based news website with a stated goal of serving the progressive community. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted January 14, 2023 Platinum Contributing Member Share Posted January 14, 2023 23 minutes ago, steve from amherst said: Common Dreams, is a 501(c)(3) nonprofit, U.S.-based news website with a stated goal of serving the progressive community. Quote Link to comment Share on other sites More sharing options...
jdsky Posted January 14, 2023 Share Posted January 14, 2023 The dipshitocrats have had every opportunity to focus on important things to their base like repealing the trump tax cuts. Why didn't they? Why instead have they focused in on completely meaningless shit like Jan 6th? Because as usual only the dumbocrats at the top of their food chain realize that profits in business is not only a good thing for the economy but necessary in order for those businesses to actually stay in business. Specifically when all those shit birds own stock in that "profitable US corporation" and make nice returns on their investments to pay for things like their mansions, personal staff and expensive vacations. The Fortune 500 employs about 30 Million Americans paying an average salary of $80K while at the same time providing excellent benefits to these employees and their families. Their average profit margins were approx. 12% in 2022 but absolute dipshits like MC think they should pay more taxes and then somehow still keep all of these people employed and providing benefits while doing so. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 14, 2023 Gold Member Share Posted January 14, 2023 Shifting the tax burden to the poor and middle class is all the Trump tax cuts did…. 😂 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted January 14, 2023 Platinum Contributing Member Share Posted January 14, 2023 16 minutes ago, jdsky said: The dipshitocrats have had every opportunity to focus on important things to their base like repealing the trump tax cuts. Why didn't they? Why instead have they focused in on completely meaningless shit like Jan 6th? Because as usual only the dumbocrats at the top of their food chain realize that profits in business is not only a good thing for the economy but necessary in order for those businesses to actually stay in business. Specifically when all those shit birds own stock in that "profitable US corporation" and make nice returns on their investments to pay for things like their mansions, personal staff and expensive vacations. The Fortune 500 employs about 30 Million Americans paying an average salary of $80K while at the same time providing excellent benefits to these employees and their families. Their average profit margins were approx. 12% in 2022 but absolute dipshits like MC think they should pay more taxes and then somehow still keep all of these people employed and providing benefits while doing so. You’re a bootlicker Quote Link to comment Share on other sites More sharing options...
Rod Posted January 14, 2023 Share Posted January 14, 2023 Some here sure don’t understand business Quote Link to comment Share on other sites More sharing options...
SkisNH Posted January 14, 2023 Share Posted January 14, 2023 27 minutes ago, BOHICA said: Shifting the tax burden to the poor and middle class is all the Trump tax cuts did…. 😂 Ummm no Quote Link to comment Share on other sites More sharing options...
jdsky Posted January 14, 2023 Share Posted January 14, 2023 Business is a complex and very tough subject for the bottom of the barrel dumbocrat to understand. Not their fault really. They are groomed by their leaders to think that it's a bad thing for them. Perhaps sometimes they even wonder why it's such a bad thing but then all that is needed is a mention of trump and then all is clear to them again. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 14, 2023 Gold Member Share Posted January 14, 2023 2 minutes ago, SkisNH said: Ummm no Somebody has to pay for the shortfall in government revenue as a result of tax credits and deductions…. No? Quote Link to comment Share on other sites More sharing options...
jdsky Posted January 14, 2023 Share Posted January 14, 2023 1 minute ago, BOHICA said: Somebody has to pay for the shortfall in government revenue as a result of tax credits and deductions…. No? Simple. If trump tax cuts are the reason for the national debt issue and current declining economic environment then look no further than the shitbird dumbocrats that have had every opportunity to specifically address it over the past two years. Not only did they decline to do so it was not even a whisper on their party driven mass media machine. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 14, 2023 Gold Member Share Posted January 14, 2023 1 minute ago, jdsky said: Simple. If trump tax cuts are the reason for the national debt issue and current declining economic environment then look no further than the shitbird dumbocrats that have had every opportunity to specifically address it over the past two years. Not only did they decline to do so it was not even a whisper on their party driven mass media machine. Tax credits and deductions are good or bad? Quote Link to comment Share on other sites More sharing options...
Rod Posted January 14, 2023 Share Posted January 14, 2023 If they can print money with no repercussions why bother taxing at all Quote Link to comment Share on other sites More sharing options...
SkisNH Posted January 14, 2023 Share Posted January 14, 2023 (edited) 21 minutes ago, BOHICA said: Somebody has to pay for the shortfall in government revenue as a result of tax credits and deductions…. No? Well the poor didn't pay for it and analyzing the data the rich actually paid more.... https://taxfoundation.org/historical-income-tax-rates-brackets/ Edited January 14, 2023 by SkisNH Quote Link to comment Share on other sites More sharing options...
Rod Posted January 14, 2023 Share Posted January 14, 2023 Everything is corporate welfare. Student loans are corporate welfare. All those Covid payments just enriched companies. Covid mandates were 100% corporate welfare. It’s everywhere. Some just pick and choose what corporate welfare they like and which they don’t based on partisanship but lower taxes is a different thing than the government just feeding companies billions of dollars Quote Link to comment Share on other sites More sharing options...
jdsky Posted January 14, 2023 Share Posted January 14, 2023 13 minutes ago, BOHICA said: Tax credits and deductions are good or bad? My points are very simple. They are what they are and dipshitocrat leadership has had a chance to change it. If dipshitocrat voters think they are a bad thing because of trump then maybe burn more cities until their leadership acknowledges it and get its done. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 14, 2023 Gold Member Share Posted January 14, 2023 8 minutes ago, SkisNH said: Well the poor didn't pay for it and analyzing the data the rich actually paid more.... https://taxfoundation.org/historical-income-tax-rates-brackets/ Bingo! Tax credits and deductions aren’t paid for by the poor or most of the middle class. Some of you are slowly learning!!! Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted January 14, 2023 Share Posted January 14, 2023 56 minutes ago, SnowRider said: You’re a bootlicker Right out of duh underground Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 14, 2023 Author Share Posted January 14, 2023 Seems all the poor tards here are CEO’s of their giant lawnmower businesses. guess who pays when Corp America doesn’t? Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted January 14, 2023 Share Posted January 14, 2023 Just now, Mainecat said: Seems all the poor tards here are CEO’s of their giant lawnmower businesses. guess who pays when Corp America doesn’t? And never a thought to cutting wasteful spending. 1 Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 14, 2023 Gold Member Share Posted January 14, 2023 3 minutes ago, Mainecat said: Seems all the poor tards here are CEO’s of their giant lawnmower businesses. guess who pays when Corp America doesn’t? Who? Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted January 14, 2023 Gold Member Share Posted January 14, 2023 8 minutes ago, Mainecat said: Seems all the poor tards here are CEO’s of their giant lawnmower businesses. guess who pays when Corp America doesn’t? Why hasn't Joe fixed this yet? Quote Link to comment Share on other sites More sharing options...
jdsky Posted January 14, 2023 Share Posted January 14, 2023 11 minutes ago, Mainecat said: guess who pays when Corp America doesn’t? Nobody, dipshit. But I realize even simple math is very hard for you. Quote Link to comment Share on other sites More sharing options...
SkisNH Posted January 14, 2023 Share Posted January 14, 2023 18 minutes ago, Stephen Hawking said: Why hasn't Joe fixed this yet? It's only been 50 years.. 1 Quote Link to comment Share on other sites More sharing options...
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