Study: Tax code slashes tax for hugel...

Study: Tax code slashes tax for hugely profitable companies

There are 23 comments on the www.usatoday.com story from Aug 16, 2012, titled Study: Tax code slashes tax for hugely profitable companies. In it, www.usatoday.com reports that:

Citigroup, Abbott Laboratories, and AT&T are among the 26 companies that paid more to their CEOs in 2011 than they did in U.S. federal taxes, according to a study released on Thursday.

Tax breaks on research and development, past losses, and foreign-held earnings were among those lightening the tax load for many companies on the list, said the Institute for Policy Studies, a left-leaning think tank in Washington, D.C. Citi, Abbott and AT&T all took issue with the institute's methodology. All three said they paid all taxes owed in 2011.

Join the discussion below, or Read more at www.usatoday.com.

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“It's a Brand New Day”

Since: Feb 06

New Rochelle

#1 Aug 16, 2012
HOLY MOLEY !

GO to

http://www.ips-dc.org/files/5110/Executive-Ex...

And read the whole report.

This is CORPORATE SOCIALISM.

Since: Jul 07

Newport News, VA

#2 Aug 16, 2012
last i heard in this country, companies are free to pay their executives what they damn well please. of course, the president it trying to change that freedom...

“your life is great”

Since: Aug 09

you poop in clean water

#3 Aug 16, 2012
GoodNewz wrote:
last i heard in this country, companies are free to pay their executives what they damn well please. of course, the president it trying to change that freedom...
I think the point is that if they can pay their CEO's more than they currently pay in taxes, then they can afford to pay a higher tax rate.
(despite what the MSM tells you)

“i hope we can change this!”

Since: Aug 08

usa

#4 Aug 16, 2012
obama could afford to pay higher taxes also, but he, like the corps., chose to take advantage of every loophole and deduction allowed...

i don't see anything in the media about that.

wonder why?

oh, yeah, i know why...it's the msm...
and bill.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#5 Aug 16, 2012
GoodNewz wrote:
last i heard in this country, companies are free to pay their executives what they damn well please. of course, the president it trying to change that freedom...
Tr5y rading the report.

The point is not that they pay themselves what ever they want to; but that the CEO's and te companies get huge, undeserved tax breaks for doing so.

In tea-bag talk, the exemptions and loopholes are a distortion on the market.
davy
#6 Aug 16, 2012
Keep on chugging that corporate cock.
carey529 wrote:
obama could afford to pay higher taxes also, but he, like the corps., chose to take advantage of every loophole and deduction allowed...
i don't see anything in the media about that.
wonder why?
oh, yeah, i know why...it's the msm...
and bill.
Eleanor
#7 Aug 16, 2012
What do we expect from the people who are SUPPOSED to represent us??

They represent THEMSELVES and all the other people who are as rich or richer than themselves (both repubs and dems).

Tax code favors those wealthy members of Congress and their corporate cronies, because they are the ones who write the rules.

Time has come to tighten up those loopholes.

Obama has done NOTHING to solve this problem.

Time for a change in LEADERSHIP.

<NoBama 2012>
gossamer
#8 Aug 16, 2012
Aren't these the companies Obama bailed out so they could donate to his campaign?

Since: Jul 07

Newport News, VA

#9 Aug 16, 2012
not exactly a balanced organization:

"Harvey Klehr, professor of politics and history at Emory University, in his 1988 book Far Left of Center: The American Radical Left Today said that IPS "serves as an intellectual nerve center for the radical movement, ranging from nuclear and anti-intervention issues to support for Marxist insurgencies."

no surprise they came out with anti-corporate diatribe.
xnutmegger
#10 Aug 16, 2012
Mr_Bill wrote:
<quoted text>
Tr5y rading the report.
The point is not that they pay themselves what ever they want to; but that the CEO's and te companies get huge, undeserved tax breaks for doing so.
In tea-bag talk, the exemptions and loopholes are a distortion on the market.
Tax breaks . Dems believe they have the right to tax at %100 and anything less is a tax break.

Yesterday Obama in Iowa touting " TAX BREAKS " for wind generated energy.

LEFTY likes high taxes as they can sell " TAX BREAKS " to political thinking similar business folks and of course Cronies.

“your life is great”

Since: Aug 09

you poop in clean water

#11 Aug 16, 2012
carey529 wrote:
obama could afford to pay higher taxes also, but he, like the corps., chose to take advantage of every loophole and deduction allowed...
i don't see anything in the media about that.
wonder why?
oh, yeah, i know why...it's the msm...
and bill.
(that's because it has nothing to do with Obama, or Romney, or Biden, or Ryan, or Pelosi, or Boehner, or Reid, or McDonnell)
.
again.
a corporation that pays it's CEO's more than it pays in taxes can afford to pay a higher tax rate.
.
this article also PROVES that lower corporate taxes doesn't equal job creation, it equals higher CEO bonuses.
xnutmegger

Phoenix, AZ

#12 Aug 16, 2012
anneutral wrote:
<quoted text>
(that's because it has nothing to do with Obama, or Romney, or Biden, or Ryan, or Pelosi, or Boehner, or Reid, or McDonnell)
.
again.
a corporation that pays it's CEO's more than it pays in taxes can afford to pay a higher tax rate.
.
this article also PROVES that lower corporate taxes doesn't equal job creation, it equals higher CEO bonuses.
I know what you mean ...take Obama Crony Jeff Immelt for instance.

In 2010 Jeff Immelt , crony of Obama and GE CEO , received $15+ Million in salary and bonus. But GE cleared $14B in profit and paid ZERO-ZILCH-NADA-Noyhing in taxes.

You are so right , cronyism is profitable.
Sheik Yerbouti

Warrington, PA

#13 Aug 16, 2012
Why is it when people want corporations to pay their fair share in taxes they are 'punishing success' but when workers demand a fair shake and a living wage it somehow becomes 'class warfare'? Amazing how many americans are willing to live on their knees worshiping corporate thieves!
davy

Albuquerque, NM

#14 Aug 16, 2012
GE gave Obama 38k and Romney 145K.
xnutmegger wrote:
<quoted text>
I know what you mean ...take Obama Crony Jeff Immelt for instance.
In 2010 Jeff Immelt , crony of Obama and GE CEO , received $15+ Million in salary and bonus. But GE cleared $14B in profit and paid ZERO-ZILCH-NADA-Noyhing in taxes.
You are so right , cronyism is profitable.
xnutmegger

Phoenix, AZ

#15 Aug 16, 2012
davy wrote:
GE gave Obama 38k and Romney 145K.
<quoted text>
What calenadar year ? What election cycle ?
Debt Collectin

Fishers, IN

#16 Aug 16, 2012
here yee all!!!!!!ATnT rethink possiblee!;-000

Since: Jul 07

Newport News, VA

#17 Aug 16, 2012
anneutral wrote:
<quoted text>
(that's because it has nothing to do with Obama, or Romney, or Biden, or Ryan, or Pelosi, or Boehner, or Reid, or McDonnell)
.
again.
a corporation that pays it's CEO's more than it pays in taxes can afford to pay a higher tax rate.
.
this article also PROVES that lower corporate taxes doesn't equal job creation, it equals higher CEO bonuses.
i thought taxes were about FAIRNESS, not what someone can AFFORD. under your theory, if a corporation or individual has anything left over at the end of the year, the government should surely be able to come in and use it for their own purposes. problem with your theory is that people see the way the government squanders taxpayer monies, and want to pay less and less....

“your life is great”

Since: Aug 09

you poop in clean water

#19 Aug 17, 2012
it's ironic how many people think this is some sort of partisan issue, or a contest.
it's not.
.

“your life is great”

Since: Aug 09

you poop in clean water

#20 Aug 17, 2012
GoodNewz wrote:
<quoted text>
i thought taxes were about FAIRNESS, not what someone can AFFORD. under your theory, if a corporation or individual has anything left over at the end of the year, the government should surely be able to come in and use it for their own purposes. problem with your theory is that people see the way the government squanders taxpayer monies, and want to pay less and less....
you should read the article, because this comment makes you sound ignorant, and those of us that know you are fully aware that you aren't ignorant.

Since: Jul 07

Newport News, VA

#21 Aug 17, 2012
anneutral wrote:
<quoted text>
you should read the article, because this comment makes you sound ignorant, and those of us that know you are fully aware that you aren't ignorant.
i was responding to your comment that if a company pays its CEO more than the tax it pays, then it can afford to pay more in tax. a whole lot of people can pay more tax, but does that mean they SHOULD? this whole issue is about loopholes in the tax code. something that this administration has not even touched, even when it had both house and senate. crying about rich CEOs helps turn attention away from the abysmal economy and abysmal record of this president. it's da rich man's fault. he gwine put you peeps in chains. how low can you grovel???

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