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More than 60% of U.S. corporations didn't pay any federal taxes for 1996 through 2000

by C1ay / April 6, 2004 4:14 AM PDT
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Well, let's see now....
Despite the rising rate of tax avoidance among corporations, collections from the federal corporate income tax rose to more than $200 billion in 2000, from $ 171 billion in 1996. But over the next three years they fell each year, reaching $131.8 billion in 2003 -- the lowest annual total since 1993. They are projected to reach $168.7 billion this year.

So despite all the loopholes, corporate tax payments climbed between the years 1996 and 2000, and then over the next three years (whose watch is that?) they sank to their lowest point since the year Clinton took office.

Thanks for the link!
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Yep....
by C1ay / April 6, 2004 4:58 AM PDT

I'd imagine all of the tax dodgers that started in 1996 to 2000 are going to keep at it as long as they can get away with it. It could take 3 or 4 administrations to catch up with them. Of course, those administrations are going to get blamed for the policies of previous administrations as being the cause, except for the Clinton administration of '96 to '00 because the previous administration was itself.

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Re:Yep....
by Josh K / April 6, 2004 5:03 AM PDT
In reply to: Yep....

The article doesn't say that those loopholes first appeared during the Clinton Administration. It doesn't say how long they've been there.

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Re:Re:Yep....
by C1ay / April 6, 2004 5:19 AM PDT
In reply to: Re:Yep....

No, it didn't say when the loopholes appeared. It just highlighted the percentage during the supposed tech boom. In reality, many of those companies that the article is about are probably long gone by now, victims themselves of the tech crash.

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Really doesn't make any difference who is in office as far as who actually pays

The bottom line is very simple: corporations don't pay taxes. PEOPLE do. Either we pay them directly, or it is included in the cost of the items we buy from the said corporations. Makes no difference whether it is under a Republican or Democratic administration; those of us who buy the products are going to pay.

Quite frankly, it is nothing but a shell game to pretend otherwise. And to me, it is foolish in the extreme to say that 'corporations' should be taxed more heavily. Any so-called tax they pay is going to be added into the cost of the goods, plus an additional amount to cover their administrative costs related to tax reporting. It costs us less - and is FAR more honest - to pay the tax directly ourselves. But then, it is more obvious how much we are actually paying in taxes so government as a whole would prefer another method...... keep the peons in the dark, you know Happy

Rant over for now.

Ruth

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Re:Really doesn't make any difference who is in office as far as who actually pays
It costs us less - and is FAR more honest - to pay the tax directly ourselves. But then, it is more obvious how much we are actually paying in taxes so government as a whole would prefer another method...

That's one of the key reasons I favor a consumption tax.

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True enough

The one thing that corporation income taxes, as well as inventory taxes (some states use to have, not sure now) does is bring money from people living outside the state and even the country into the state treasury.

Of course, the reverse is true also, that we pay money into states we don't live in every time we buy a product made by a company with it's reporting base in another state.

But you're probably right, it would be too revealing of what we really pay to make it all an individual tax.

RogerNC

click here to email semods4@yahoo.com

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Blame administrations as you might.....

....the fault/cracks lay at the feet of the various
Congresses (over many years) and the IRS.

And we all know about recruiting auditors,....

As each candidate provides answers to questions, they
are excused with the idea that we'll get back to them.

The last candidate of the day, when asked what the
bottom line should look like, gets up; locks the door;
closes the blinds; removes his jacket; rolls up his
sleeves; looks you in the eye and asks...what do you
want it to look like... Guess who got the job !

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Re:Blame administrations as you might.....
by C1ay / April 6, 2004 5:21 AM PDT
the IRS

Ahh, the department that should really be phased out entirely.

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Re: The bottom line is they're still not paying...nt

.

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