[DeTomaso] NPC - Corporate taxes

[Will Demelo]

I'm with you Larry. No tax breaks for corporations. F@$K them. Give them no 
breaks and let them and their employees go elsewhere.
Will
----- Original Message ----- 
From: "Larry Finch" <fresnofinches at aol.com>
To: <detomaso at realbig.com>
Sent: Sunday, November 07, 2010 6:07 PM
Subject: [DeTomaso] NPC - Corporate taxes


>
>
>
> Since we are now into who pays what in taxes, let’s take a look
> at historical corporate tax rates and figures.
>
> (For those of you who wonder just why I seem to have it in for the
> corporations, these figures may enlighten you.)
>
> In the 50’s and 60’s their tax rates started around 23% and went up to 
> about 52%.
> The 70’s to the mid 80’s saw a range from 15% to about 46%. The rates 
> began falling
> and now are about 15% to 35%.
>
> Not surprising, the share that corporate tax revenues comprise of total 
> federal tax
> revenues also has fallen from an average of 28 percent of federal revenues 
> in the 1950s
> and 21 percent in the 1960s to an average of about 10 percent since the 
> 1980s.
>
> If you look at how their taxes related to their profits, you see them 
> paying about 49% in the 50’s,
> 38% in the 60’s, 33% in the 70’s, and about 25% in the 90’s.
>
> You can see they have lower taxes than in the boom days of the 50’s and 60’s, 
> yet somehow
> they blame their shutdowns, outsourcing and downsizing on their tax 
> burden.
>
> Through their hired lobbyists corporations have obviously been successful 
> in lowering their share
> of support for the USA, and yet they still pour out the crocodile tears 
> about how heavily taxed they are.
> When will they be satisfied? Probably never, unless they manage to get 
> enough tax cuts and loopholes
> to all manage to pay nothing.
>
> Beginning to understand why solving this Nation’s financial problems 
> requires a fresh look at corporations?
>
> Larry – Google is my friend. If you really want to get upset, do your own 
> Google search.
>
> Maybe you will find this gem:
>
> In 2000 alone, 94% of all U.S. corporationspaid less than 5% of their 
> total income in corporate taxes,
> the GAOsaid in a report released Friday. Among the largest corporations --  
> the1% of all corporations
> that owns 93% of all corporate assets -- 82%paid less than 5% of their 
> income in taxes.
> -----------------
> I don't know about you, but I pay taxes on my INCOME, not profit. Why are 
> corporations not held to
> the same rule?
>
> One of you wrote me off list to the effect that if we would just remove 
> all
> corporate taxes, they wouldn't be motivated to move offshore. I found his 
> innocence amusing.
>
>
>
>
>
>
>
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