Sources: Market Watch, Bloomberg, USA Today
quote: quote: Instead of giving money to the government, it turns out more than a few U.S. companies are actually making money off their income taxes. - Huff&Puff
quote: The average rate? 18.5%. -CNN
quote: quote: the United States actually has the lowest corporate tax burden of any of the member nations of the Organization for Economic Cooperation and Development. - CTJ
quote: Individual taxpayers in the "99 percent category" typically pay 25-30+ percent.
quote: Oh poor corporations, how sad of them having to pay a minor fraction of their massive profits compared to what their smaller competitors and individuals pay. Yes, how unfair.
quote: Don't cry when your job get shipped overseas, praise the glorious corporate machine.
quote: Well yeah, because our government is so fiscally responsible with its money and has regulations like corporations to deal with in fiscal responsibility.
quote: And taxing them at what, 40%, 50%, will bring jobs back? What's the number Jason? What's the magic corporate tax rate that will make things "happen" again?
quote: Well it's all in the perspective:http://www.businessinsider.com/ireland-bound-eaton...Keep raising them taxes and watch those jobs come right back!
quote: Half of those "99%" pay next to nothing after tax breaks like the EIC while the top 25% pays nearly 90%:http://ntu.org/tax-basics/who-pays-income-taxes.ht...
quote: "Profits" are different than profit margins, which is what counts on the books in quarterly earnings reports.
quote: Yep, because government is so great at fiscal responsibility with the money others, and other entities, create.Seriously, man?
quote: But enough with the Obama Talking Points, okay?
quote: As for a flat tax, I'm with you on that one. But you can see how easy it will be for legislators to start out with a flat tax and then do carve-outs and breaks, in some cases because they are beholden to donors and in other cases simply because they believe certain things should be promoted (such as charitable donations, or --gasp!-- investing in industry).
quote: (1) You are NOT being "taxed at 30+ percent." That's the MARGINAL rate; your overall rate is probably 15%. Divide the amount of tax you paid last year by your income last year.(2) You just hate the fact that those fat cats are taxed at just 15%. You do understand, don't you, that those are capital gains, which the government has for a very long time should be taxed at a lower rate in order to encourage investment. Tell you what: you make a crapload of money at your regular job, then after paying regular income tax you take the net proceeds and buy a crapload of stock. Wait a year, then quit your regular job and sell a little stock at a time. Guess what? You too will be paying just 15%!