TAX EVADERS what should be done?

TAX EVADERS what should be done?

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Hard Working American

Wentzville, MO

#1 Apr 20, 2012
10 Big Companies That Pay No Taxes

Between 2008 and 2011, 26 major American corporations paid no net federal income taxes despite bringing in billions in profits, according to a new report (PDF) from the nonprofit research group Citizens for Tax Justice. CTJ calculates that if the companies had paid the full 35 percent corporate tax rate, they would have put more than $78 billion into government coffers.

Here's a look at the 10 most profitable tax evaders

Verizon Communications
Profits:$19.8 billion Effective tax rate:-3.8%

General Electric
Profits:$19.6 billion Effective tax rate:-18.9%

Boeing
Profits:$14.8 billion Effective tax rate:-5.5%

NextEra Energy: North America's largest solar and wind power operator, based in Florida
Profits:$8.8 billion Effective tax rate:-2%

American Electric Power: Electric utility based in Columbus, Ohio
Profits:$8.2 billion Effective tax rate:-6.4%

Pacific Gas & Electric: California electrical utility
Profits:$6 billion Effective tax rate:-8.4%

Apache: Houston-based oil and gas company
Profits:$6 billion Effective tax rate:-0.3%

Consolidated Edison: New York energy company
Profits:$5.9 billion Effective tax rate:-1.3%

El Paso: Houston-based energy company that operates the country's largest natural gas pipeline
Profits:$4.6 billion Effective tax rate:-0.9%

CenterPoint Energy: Electric and gas utility company based in Houston
Profits:$3.1 billion Effective tax rate:-11.3
Options

Sedalia, MO

#2 Apr 20, 2012
Option One: Do nothing. Not a good option, but most likely as these companies are all politically connected and most are big doners to the socialist regime.

Option Two: Remove all subsidies and tax breaks for these industries. The costs of these taxes will simply be passed on to the consumer, so this would simply serve as an additional layer of taxation on anyone who pays their own bills. Second most likely course of action as it serves the regimes agenda of punishing producers and rewarding welfare parasites.

Option Three: Eliminate subsidies and tax breaks AND Eliminate the EPA and deregulate these industries, this will allow greater competition in the market, driving down prices and increasing revenues. This is the least likely to happen as it shifts power from the ruling elite to the common people. Just the fact that this option utilizes free market principles disqualifies it from consideration by the Marxist Keynseian regime currently in power.
wripper

Chicago, IL

#3 Apr 20, 2012
Tax evaders should be applauded. It's my money, screw you Feds!

Since: Jul 10

Earth Native

#4 Apr 20, 2012
Garnishe bank accounts, place tax liens on their properties. That's what they would do if I didn't pay my taxes.
guest

United States

#5 Apr 20, 2012
SaraV wrote:
Garnishe bank accounts, place tax liens on their properties. That's what they would do if I didn't pay my taxes.
I belive there would be a fine also. Isn't the top guy at GE one of Obama's advisors?
Really

United States

#6 Apr 20, 2012
SaraV wrote:
Garnishe bank accounts, place tax liens on their properties. That's what they would do if I didn't pay my taxes.
It's not worth it !!!!!
I set my tax withholdings as close as I can to break even !!!
Observant

Sedalia, MO

#7 Apr 20, 2012
guest wrote:
<quoted text>
I belive there would be a fine also. Isn't the top guy at GE one of Obama's advisors?
Most of those companies are Obama doners and are exempt from investigation. It's called the "Gheitner Exemption". Chicago politics at its finest.

Since: Jul 10

Earth Native

#8 Apr 20, 2012
Really wrote:
<quoted text>
It's not worth it !!!!!
I set my tax withholdings as close as I can to break even !!!
I will assume that you are still paying taxes with those "tax withholdings". I don't understand breaking even.
bufu

Saint Louis, MO

#9 Apr 20, 2012
It's true. Obama named Jeffrey Immelt (CEO of GE) to be his jobs czar. You know to create jobs and lower unemployment.

Which is actually some kind of sick joke since GE sends jobs overseas.
Really

United States

#10 Apr 20, 2012
SaraV wrote:
<quoted text>
I will assume that you are still paying taxes with those "tax withholdings". I don't understand breaking even.
Standard Deductions!!!
In the end I don't owe and they don't owe !!!
I hope this helps!!!
guest

United States

#11 Apr 20, 2012
bufu wrote:
It's true. Obama named Jeffrey Immelt (CEO of GE) to be his jobs czar. You know to create jobs and lower unemployment.
Which is actually some kind of sick joke since GE sends jobs overseas.
I remember reading about GE closing a plant in either W. Virginia or Virginia. It was being moved to Mexico and they wanted some of the workers to go to Mexico and train the people who were taking their jobs. I thought that was a slap in the face.
Observant

Sedalia, MO

#12 Apr 20, 2012
GE was behind the discontinuing of manufacture of standard light bulbs and the mandate to move to the mercury-filled cfl bulbs.

GE manufactures these new environmental hazards in china.

Ain't central planning grand!

Since: Jul 10

Earth Native

#13 Apr 20, 2012
Really wrote:
<quoted text>
Standard Deductions!!!
In the end I don't owe and they don't owe !!!
I hope this helps!!!
Oh, ok. I always need to itemize regardless. Anyway, the point I was making was, if you or I didn't pay our taxes they would garnishe our wages or attach a tax lien to our property. It's only fair that the big boys pay their taxes just like the rest of us are required to do.
Observant

Sedalia, MO

#14 Apr 20, 2012
SaraV wrote:
<quoted text>
Oh, ok. I always need to itemize regardless. Anyway, the point I was making was, if you or I didn't pay our taxes they would garnishe our wages or attach a tax lien to our property. It's only fair that the big boys pay their taxes just like the rest of us are required to do.
The point you're missing here is that what these companies are doing is perfectly LEGAL. It may not be just, or ethical, and it may not make any sense, but it's all legal.

You need connections to the regime to qualify for these kinds of legal exemptions from laws that everyone else must comply with.... You know, like exemptions from obamacare for select companies and labor unions who support the regime.
Really

United States

#15 Apr 20, 2012
SaraV wrote:
<quoted text>
Oh, ok. I always need to itemize regardless. Anyway, the point I was making was, if you or I didn't pay our taxes they would garnishe our wages or attach a tax lien to our property. It's only fair that the big boys pay their taxes just like the rest of us are required to do.
Same page !!
I may have used my words incorrectly !!

Since: Jul 10

Earth Native

#16 Apr 20, 2012
Quote:

"You need connections to the regime to qualify for these kinds of legal exemptions from laws that everyone else must comply with...."

I will never become a Republican.
Really

United States

#17 Apr 20, 2012
SaraV wrote:
Quote:
"You need connections to the regime to qualify for these kinds of legal exemptions from laws that everyone else must comply with...."
I will never become a Republican.
Be Right and you can't go wrong !!!!
Mr President

Lees Summit, MO

#18 Apr 20, 2012
Hard Working American wrote:
10 Big Companies That Pay No Taxes
Between 2008 and 2011, 26 major American corporations paid no net federal income taxes despite bringing in billions in profits, according to a new report (PDF) from the nonprofit research group Citizens for Tax Justice. CTJ calculates that if the companies had paid the full 35 percent corporate tax rate, they would have put more than $78 billion into government coffers.
Here's a look at the 10 most profitable tax evaders
Verizon Communications
Profits:$19.8 billion Effective tax rate:-3.8%
General Electric
Profits:$19.6 billion Effective tax rate:-18.9%
Boeing
Profits:$14.8 billion Effective tax rate:-5.5%
NextEra Energy: North America's largest solar and wind power operator, based in Florida
Profits:$8.8 billion Effective tax rate:-2%
American Electric Power: Electric utility based in Columbus, Ohio
Profits:$8.2 billion Effective tax rate:-6.4%
Pacific Gas & Electric: California electrical utility
Profits:$6 billion Effective tax rate:-8.4%
Apache: Houston-based oil and gas company
Profits:$6 billion Effective tax rate:-0.3%
Consolidated Edison: New York energy company
Profits:$5.9 billion Effective tax rate:-1.3%
El Paso: Houston-based energy company that operates the country's largest natural gas pipeline
Profits:$4.6 billion Effective tax rate:-0.9%
CenterPoint Energy: Electric and gas utility company based in Houston
Profits:$3.1 billion Effective tax rate:-11.3
These poor guys are just trying to make ends meet so give em a break and pay your taxes on time so we can all pitch in and help em out.Thank you for your time.
A Conservative

Jackson, MO

#19 Apr 20, 2012
Quote: "Between 2008 and 2011, 26 major American corporations paid no net federal income taxes despite bringing in billions in profits, according to a new report (PDF) from the nonprofit research group Citizens for Tax Justice. CTJ calculates that if the companies had paid the full 35 percent corporate tax rate, they would have put more than $78 billion into government coffers."
First of all, NO corporation PAYS taxes, they collect them. Taxes are a cost of doing business and are passed on to the consumer (that's you and me).

Second, I'm going to take your figures as accurate, so...Specifically for 2011, the projected spending is $10.46 Billion per day. This is based on the projection of Federal Spending of $3.818 Trillion for the year.

This means that $78 Billion would have only run the government for 7 days, 10 hours, and 58 minutes...A spending rate that is totally unsustainable.

The problem isn't that we're not paying enough taxes. The problem is that government is spending too much of OUR money.
bufu

Bonnots Mill, MO

#20 Apr 20, 2012
I was in the check out lane in the East Malone Food Giant and I noticed a sign indicating that cheese was going to be removed from WIC vouchers. The govt is going to stop providing WIC cheese for poor children in Sikeston.

Obama borrows money out the ass for wars but is fine with cutting cheese subsidies for poor American children.

I voted for change. Not the same old.

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