Posted on 12/12/2011 6:34:56 PM PST by Bokababe
By employing a plethora of tax-dodging techniques, 30 multi-million dollar American corporations expended more money lobbying Congress than they paid in federal income taxes between 2008 and 2010, ultimately spending approximately $400,000 every day -- including weekends -- during that three-year period to lobby lawmakers and influence political elections, according to a new report from the non-partisan Public Campaign....
(Excerpt) Read more at ibtimes.com ...
This is another reason I support a flat business tax, no subsidies or government policies that favor one company/industry over another.
Then there would be no reason to lobby government.
Don’t fall for this baloney. The majority of these are companies paying good dividends to shareholders. It was not long ago that people could have good retirement income by purchasing dividend paying stocks. If the people pushing this stuff have their way the only people able to retire will be “public servants.”
Don’t fall for this baloney. The majority of these are companies paying good dividends to shareholders. It was not long ago that people could have good retirement income by purchasing dividend paying stocks. If the people pushing this stuff have their way the only people able to retire will be “public servants.”
If this is how it’s done it’s because the power to regulate and tax has become so intrusive (as politicians discover how to finance their carriers) businesses have no choice. It’s pay to play conveniently packaged to foment class war. Nothing to do with ‘the rich manipulating the system’ or some such marxist tripe.
If the government has the power of life and death over a corporation, of course they are going to pony up millions for lobbying. Its a clear case of self-defense.
Reduce the power of the federal government and you will instantly reduce corporate expenses for lobbying. Not to mention opportunities for corruption.
Limited government is better government in so many ways...
I agree, but if this is the case -- and I believe that it is -- then the system is broken at the government level -- and "Capitalism" is taking the hit for it.
When that happens, then people (Liberals) get fooled into putting more faith in "government regulating the greedy" -- when in fact it just makes the problem bigger and feeds more corruption in government.
Societal evolution is very slow. And if it weren't for articulate spokesman like Rush or others, it would be even slower.
Corporations don’t pay ANY taxes, that haven’t first been paid by inflating the prices of their goods and services, for which THE CUSTOMER PAYS!
>> By employing a plethora of tax-dodging techniques
An asinine premise that knows no reasonable bounds...
Taxation and fees should be limited to property, regulatory, use, and utility/communication. All employee related fees should be deducted off payroll.
I’d like an explanation as to why a corporation should pay income taxes?
>> Then there would be no reason to lobby government.
Don’t forget about regulations.
Pay either 12.5% or 15% in a flat tax on profits...no deductions.
At least it's not a PROGRESSIVE tax. Everyone who buys from corporations will pay it. That's literally every man, woman and child in the USA. It's like a hidden sales tax.
Then eliminate the capital gains tax.
It's good business and good policy.
No more lobbying by everbody with time and money to lobby.
Then start the trials and hangings for the US Congress.
On the Capitol Steps.
Because if that happened, everyone would pay the $600 to incorporate themselves and then they wouldn't have to pay income taxes.
I understand why people worry that companies like these spend so much money on lobbying. But imagine if Pacific Gas and Electric, NiSource, Duke Energy, American Electric Power, and DTE did not spend big on lobbying. The democrat controlled Congress, during President Obama’s first two years, might have mandated that all new electric generation be from solar or pin-wheel-wind-farms. It can cost big money to keep Congress from destroying our Country.
The income is still recognized to the individual as a distribution through the K-1 in the case of Chapter S.
My comment, btw, concerned C corps.
Actually my favorite was when Peter Schiff went over to OWS with a sign that said, "I'm the 1%. Let's Talk". Schiff gave those who would never listen to Rush, a brilliant education on how capitalism works and on who was really screwing them over -- and it WASN'T "greedy Capitalist Pigs on Wall Street". He told them that the focus of their ire ought to be on Washington, DC, not Wall Street. There are some great videos of him there on youtube.
I would gladly pay more for goods and services if corporations were taxed and individuals were not.
“it’s got to make you wonder what else they are getting to justify the expense.”
In the case of Number ONE on the list, General Electric, they made out like BANDITS for getting Obama and Dems elected, using the Power of NBC, MSNBC, and all of the other companies and affiliates.
GE Capital alone got $140 BILLION DOLLARS in Direct bailouts, and that doesn’t include all the other monies that went to GE for things like Windmills, Stimulus trains, yada,yada...
>> I would gladly pay more for goods and services if corporations were taxed and individuals were not.
Tell me you’re joking. That’s more extreme than Socialism.
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