Capatalism loves Corporations

Most companies in US avoid federal income taxes

By JENNIFER C. KERR, Associated Press Writer Tue Aug 12, 6:31 AM ET

WASHINGTON - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.

The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.

Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.

"It's shameful that so many corporations make big profits and pay nothing to support our country," said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich.

An outside tax expert, Chris Edwards of the libertarian Cato Institute in Washington, said increasing numbers of limited liability corporations and so-called "S" corporations pay taxes under individual tax codes.

"Half of all business income in the United States now ends up going through the individual tax code," Edwards said.

The GAO study did not investigate why corporations weren't paying federal income taxes or corporate taxes and it did not identify any corporations by name. It said companies may escape paying such taxes due to operating losses or because of tax credits.

More than 38,000 foreign corporations had no tax liability in 2005 and 1.2 million U.S. companies paid no income tax, the GAO said. Combined, the companies had $2.5 trillion in sales. About 25 percent of the U.S. corporations not paying corporate taxes were considered large corporations, meaning they had at least $250 million in assets or $50 million in receipts.

The GAO said it analyzed data from the Internal Revenue Service, examining samples of corporate returns for the years 1998 through 2005. For 2005, for example, it reviewed 110,003 tax returns from among more than 1.2 million corporations doing business in the U.S.

Dorgan and Levin have complained about companies abusing transfer prices — amounts charged on transactions between companies in a group, such as a parent and subsidiary. In some cases, multinational companies can manipulate transfer prices to shift income from higher to lower tax jurisdictions, cutting their tax liabilities. The GAO did not suggest which companies might be doing this.

"It's time for the big corporations to pay their fair share," Dorgan said.

____


By the way for those who still do not know, the federal income tax is a forced TAX on the people paying the INTEREST on the money LOANED TO THEM BY THE FEDERAL RESERVE at compound interest, and we take the tab.

secondly, i would like to add that the federal income tax taxes foreign income, ie if you make profits outside the states / us it is taxable, which is why yo are taxed working for a corporation, their income comes from over seas and therefore is taxable.

-by hellcatjr

More than 38,000 foreign corporations had no tax liability in 2005 and 1.2 million U.S. companies paid no income tax, the GAO said

This makes me sick. Citizerns are supposed to pay taxes but not corporations now? Where is Wesley Snipes when you need him, lol.

Although it is funny when former employees from the IRS quit thier jobs at the IRS and stop paying taxes all together.

Where are the LAWS that say we have to pay taxes?

-by snarky comment

Killuminati wrote:

Where are the LAWS that say we have to pay taxes?

Good people don't need them and bad people don't follow them.

Anarchist.Dagger wrote:

Killuminati wrote:

Where are the LAWS that say we have to pay taxes?

Good people don't need them and bad people don't follow them.

also your not forced to pay income taxes it is voluntary

Killuminati wrote:

Anarchist.Dagger wrote:

Killuminati wrote:

Where are the LAWS that say we have to pay taxes?

Good people don't need them and bad people don't follow them.

also your not forced to pay income taxes it is voluntary

\

I'd love to imagine that, but they'd punish you without just cause if they knew of your political standings (or not).

KenCat wrote:

Killuminati wrote:

Anarchist.Dagger wrote:

Killuminati wrote:

Where are the LAWS that say we have to pay taxes?

Good people don't need them and bad people don't follow them.

also your not forced to pay income taxes it is voluntary

\

I'd love to imagine that, but they'd punish you without just cause if they knew of your political standings (or not).

Forget that why should I pay the government to rip me off no thanks not like they can throw me in jail

Killuminati wrote:

KenCat wrote:

Killuminati wrote:

Anarchist.Dagger wrote:

Killuminati wrote:

Where are the LAWS that say we have to pay taxes?

Good people don't need them and bad people don't follow them.

also your not forced to pay income taxes it is voluntary

\

I'd love to imagine that, but they'd punish you without just cause if they knew of your political standings (or not).

Forget that why should I pay the government to rip me off no thanks not like they can throw me in jail

Don't get too cocky, you put too much trust in the US legal system. They'll throw anyone they fucking want in jail, whether it's legal or not.
Thousands of innocent, legal, peaceful protesters were put in jail simply because the government disagreed with what they were doing.

Check out the movie I posted, you'll see what goes down.

KenCat wrote:

Killuminati wrote:

KenCat wrote:

Killuminati wrote:

Anarchist.Dagger wrote:

Killuminati wrote:

Where are the LAWS that say we have to pay taxes?

Good people don't need them and bad people don't follow them.

also your not forced to pay income taxes it is voluntary

\

I'd love to imagine that, but they'd punish you without just cause if they knew of your political standings (or not).

Forget that why should I pay the government to rip me off no thanks not like they can throw me in jail

Don't get too cocky, you put too much trust in the US legal system. They'll throw anyone they fucking want in jail, whether it's legal or not.
Thousands of innocent, legal, peaceful protesters were put in jail simply because the government disagreed with what they were doing.

Check out the movie I posted, you'll see what goes down.

but they would have to take me to court you have to sign/volunteer on your wp-2/wp-4 form to pay taxes just don't sign it lol they try to get corporations to make you fill it out but you just fill out all but the taxes part but I'll think about it

Killuminati wrote:

KenCat wrote:

Killuminati wrote:

KenCat wrote:

Killuminati wrote:

Anarchist.Dagger wrote:

Killuminati wrote:

Where are the LAWS that say we have to pay taxes?

Good people don't need them and bad people don't follow them.

also your not forced to pay income taxes it is voluntary

\

I'd love to imagine that, but they'd punish you without just cause if they knew of your political standings (or not).

Forget that why should I pay the government to rip me off no thanks not like they can throw me in jail

Don't get too cocky, you put too much trust in the US legal system. They'll throw anyone they fucking want in jail, whether it's legal or not.
Thousands of innocent, legal, peaceful protesters were put in jail simply because the government disagreed with what they were doing.

Check out the movie I posted, you'll see what goes down.

but they would have to take me to court you have to sign/volunteer on your wp-2/wp-4 form to pay taxes just don't sign it lol they try to get corporations to make you fill it out but you just fill out all but the taxes part but I'll think about it

They can take you wherever the fuck you want, which is usually straight to jail without a trial.
Trials are a thing of the past, now it's all about witnesses and organizations.

Remember, when you go out protesting, have a group of friends ready to bail you out immediately.
At certain protests, THOUSANDS are arrested and 0 are convicted.

KenCat wrote:

Killuminati wrote:

KenCat wrote:

Killuminati wrote:

KenCat wrote:

Killuminati wrote:

Anarchist.Dagger wrote:

Killuminati wrote:

Where are the LAWS that say we have to pay taxes?

Good people don't need them and bad people don't follow them.

also your not forced to pay income taxes it is voluntary

\

I'd love to imagine that, but they'd punish you without just cause if they knew of your political standings (or not).

Forget that why should I pay the government to rip me off no thanks not like they can throw me in jail

Don't get too cocky, you put too much trust in the US legal system. They'll throw anyone they fucking want in jail, whether it's legal or not.
Thousands of innocent, legal, peaceful protesters were put in jail simply because the government disagreed with what they were doing.

Check out the movie I posted, you'll see what goes down.

but they would have to take me to court you have to sign/volunteer on your wp-2/wp-4 form to pay taxes just don't sign it lol they try to get corporations to make you fill it out but you just fill out all but the taxes part but I'll think about it

They can take you wherever the fuck you want, which is usually straight to jail without a trial.
Trials are a thing of the past, now it's all about witnesses and organizations.

Remember, when you go out protesting, have a group of friends ready to bail you out immediately.
At certain protests, THOUSANDS are arrested and 0 are convicted.

oh ya that pesky patriot act hm...