Bush's New Programs

Corporate welfare, better known as tax deductions and subsidies, put billions of dollars in the pockets of large corporations every year. How do you justify the fact that some years a company as large as Pepsi doesn't pay any taxes. Or the fact that companies get tax breaks in America because they pay taxes in other countries?
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Yeah, the amount of money that companies make is outrageous. At the very least, there should be a cap on corporate profits, with anything beyond a reasonable return being taken in taxes to help meet the basic needs of the people. And companies should be forced to raise wages and provide comprehensive employee benefits. And companies should be held accountable for social and environmental responsibility. And... and... and... WORKERS OF THE WORLD UNITE !!!

<Sorry, I sometimes have those flashbacks to my college days in the '70s. :eek: >
 
Well let's look at what a subsidy is. The government takes money it collected in taxes from, well people like me and you, and small business that actually pay their taxes. Then the government takes this money and gives it to other companies. Oil companies recieve alot of money in tax subsidies. They're not the only industry to recieve subsidies, but most people know about oil subsidies. Even during a record profit year for oil companies they still recieve these subsidies. So when the government takes money from one group and gives it to a person, it's welfare and bad, and when they take from a group and give it too a business it's good?

I said nothing of limiting corporate profits, but what, because you disagree with me, you have to insinuate that I'm a communist. Wow, that's quite a leap. I simply think that if a company conducts business in the United States, they should pay their fair share of taxes the U.S. government. I don't care if the company paid x amount of dollars in taxes whatever government, they shouldn't get a break for that here.

Thanks for completely ignoring the question. Since you chose to ignore it I can assume you can't justify it.
 
Yeah, the amount of money that companies make is outrageous. At the very least, there should be a cap on corporate profits, with anything beyond a reasonable return being taken in taxes to help meet the basic needs of the people. And companies should be forced to raise wages and provide comprehensive employee benefits. And companies should be held accountable for social and environmental responsibility. And... and... and... WORKERS OF THE WORLD UNITE !!!

<Sorry, I sometimes have those flashbacks to my college days in the '70s. >
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That's good:D ! However, the Corp system no longer knows a national allegiance or has little conscience for it employees in the USA. The last 8-10 years have produced exposed some very bad agents. Gov't may be the only thing that protects employees, stockholders and consumers beyond the basics of Caveat Emptor.
I think if a list was published and promoted of companies that don't pay taxes while those officers are knocking down obscene amounts total remuneration, the natives would become quite restless....or worse! Not unlike the masive breaks recently granted the oil co.'s or the protections for the drug co's.
The folks in the trench don't relate well to this. Wages aren't keeping up...and benefits are becoming extinct.Poverty is up...welfare is down....the rich got richer and it's become the invester class v the rest of life. Not good if it continues for very long. Not that every CEO with an MBA is Dennis Kos. but.....
It's still true today (as it was for us in the 70's college days)...when things get too far upsidedown the system will react and sometimes violently. Just like the San Andreas fault!

Rimrock
 
Thanks for completely ignoring the question. Since you chose to ignore it I can assume you can't justify it.
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Okay, I'm sorry for poking fun at your veer off-topic into complaints about the tax system.

I simply think that if a company conducts business in the United States, they should pay their fair share of taxes the U.S. government. I don't care if the company paid x amount of dollars in taxes whatever government, they shouldn't get a break for that here.
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International companies pay taxes in the countries in which profits are made. The home countries of international companies recognize the taxes paid in foreign countries as just being another (deductible) business expense. If home/host tax offsets were not allowed, there would be no international companies as a result of the multiple taxation.

As an example (this IS made up), Pepsi-France makes a $100 profit - and France wants 40% for taxes. Pepsi-France is owned by Pepsi-Europe in the UK - and the UK wants 30% for taxes. Pepsi-Europe is owned by Pepsi Corp. in the US - and the US wants 35% for taxes. Without home/host tax offsets, Pepsi would end up paying 105% in taxes on the $100 profit. That wouldn't work too well.
 
As an example (this IS made up), Pepsi-France makes a $100 profit - and France wants 40% for taxes. Pepsi-France is owned by Pepsi-Europe in the UK - and the UK wants 30% for taxes. Pepsi-Europe is owned by Pepsi Corp. in the US - and the US wants 35% for taxes. Without home/host tax offsets, Pepsi would end up paying 105% in taxes on the $100 profit. That wouldn't work too well.
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Ok, your example shows me we're not quite thinking the same way. I don't think Pepsi should have to pay taxes to the U.S. on profits made world wide. I think that if Pepsi makes $50 million profit in the U.S., they should pay taxes on that profit. In my way of thinking it doesn't matter how much profit Pepsi would make in another country because they'll pay taxes in the country where they made the profit. So Pepsi would only pay the same corporate tax rate on their profits made in America as a company based completely in the U.S, would pay on their profit. I'm not talking about double, or triple taxing the same profit.
 
I fundamentally agree that US multinational companies should pay US taxes on the profits made in the US.

Unfortunately, international finance, and particularly international tax law, is a snake pit. If the US taxed the US profits of US-based multinational companies without consideration for their international operations, one of two things would happen: US profits would disappear and pop up in one of the company's foreign subsidiaries, or; corporate headquarters would be moved out of the US.
 
Yeah, the amount of money that companies make is outrageous. At the very least, there should be a cap on corporate profits, with anything beyond a reasonable return being taken in taxes to help meet the basic needs of the people. And companies should be forced to raise wages and provide comprehensive employee benefits. And companies should be held accountable for social and environmental responsibility. And... and... and... WORKERS OF THE WORLD UNITE !!!
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I don't see how his post in any way suggested any of what you're saying. There's a big difference between profit caps and giving already profitable companies massive tax breaks so people with seven figure incomes can have eight figure incomes.

Just because one suggests that the rich shouldn't be profiting off the taxes of the middle and lower classes does not mean one is advocating socialism.
 
But more traditional Republicans are finally abandoning this pathetic regime! - rimrock
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Speaking of reality, do you have any examples? I think the only Republicans publicly taking issue with the President are those worried about getting reelected. You are too quick to assign virtue to them. They may be more to the left than the right.
 
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