Huge difference is those complaining about those not paying taxes are complaining about the tax law and how it needs to be changed so everyone is paying something, not that they shouldn't take full advantage of the tax code. Twotoplace is saying the corporations are doing something illegal (which he's 1000% wrong on) and treason-worthy (which is probably the most absurd thing I've ever heard). Clearly you can see the difference in the two.

 

Clearly you can see I am just voicing my opinion, independent of any one elses influence.

 

So...I can gripe about the corporate tax code, if those defending it can gripe about the personal tax code.

Clearly you can see I am just voicing my opinion, independent of any one elses influence.

 

So...I can gripe about the corporate tax code, if those defending it can gripe about the personal tax code.

I agree tax code needs to be changed.

I agree tax code needs to be changed.

 

And I agree that our entire tax code needs overhaul. I am ALMOST convinced a fair tax may be the answer for personal income taxes. However, I fear that the middle income earners will eventually (again) be victims of being hit with an ever increasing share of "fair", and the same problems will ensue. Corporate tax loopholes need to be closed. The fact that, legal or not, the largest corporate citizens are able to shelter most (if not all) of their income from taxation is simply unacceptable, IMO. I don't hold much hope for that happening. Corporate America's powerful lobbyists will not allow it.

And I agree that our entire tax code needs overhaul. I am ALMOST convinced a fair tax may be the answer for personal income taxes. However, I fear that the middle income earners will eventually (again) be victims of being hit with an ever increasing share of "fair", and the same problems will ensue. Corporate tax loopholes need to be closed. The fact that, legal or not, the largest corporate citizens are able to shelter most (if not all) of their income from taxation is simply unacceptable, IMO. I don't hold much hope for that happening. Corporate America's powerful lobbyists will not allow it.

 

It is almost impossible to stop corporations from parking money overseas unless we want them to move even more of their operations and jobs overseas as well. I just think the easiest answer is to lower the corporate rate. It will take the incentive away of putting money in other countries with lower rates . A lower rate will generate more revenue because there will be more money to tax . 15% of something is better than 0% of nothing . If we keep rates at 35% nothing will change.

Clearly you can see I am just voicing my opinion, independent of any one elses influence.

 

So...I can gripe about the corporate tax code, if those defending it can gripe about the personal tax code.

 

First, no one has defended the corporate tax code, only those taking legal tax deductions. That said, you certainly can and should complain about the corporate tax code and the individual tax code as there's plenty of loopholes in both that need to be closed. What is wrong is to blame those who take advantage of the legal loopholes as they would be ignorant to do anything but take advantage of all legal deductions.

 

First, no one has defended the corporate tax code, only those taking legal tax deductions. That said, you certainly can and should complain about the corporate tax code and the individual tax code as there's plenty of loopholes in both that need to be closed. What is wrong is to blame those who take advantage of the legal loopholes as they would be ignorant to do anything but take advantage of all legal deductions.

 

I agree. I hope you can agree, as well, that defending corporations form taking advantage of their loopholes yet bashing low income earners are hypocritical. If I weren't posting from my phone, I could dig up a plethora of threads with such discussion. But, you've been here long enough to know what I'm talking about.

 

It is almost impossible to stop corporations from parking money overseas unless we want them to move even more of their operations and jobs overseas as well. I just think the easiest answer is to lower the corporate rate. It will take the incentive away of putting money in other countries with lower rates . A lower rate will generate more revenue because there will be more money to tax . 15% of something is better than 0% of nothing . If we keep rates at 35% nothing will change.

 

I guess I'm exceedingly skeptical that corporations would change their course and begin paying.

Your question is apples and oranges. We're talking about corporate corruption, not how I fill out my tax return. When companies cheat Uncle Sam, they're shortchanging the young veteran just back from Afghanistan in need of services at the local V.A. hospital. They're shortchanging gov't programs to ensure the water we drink is safe. They're shortchanging my kids and yours in terms of deficit reduction. You may be comfortable with this "less is OK" corporate attitude, but I sure as heck ain't. My colors are red, white and blue, not "green with corporate envy."

:lol2:

I guess I'm exceedingly skeptical that corporations would change their course and begin paying.

 

If we put our rates competitive why wouldn't they. It would be easier. But when our rate is twice as high we are basically begging them to do it.

I agree. I hope you can agree, as well, that defending corporations form taking advantage of their loopholes yet bashing low income earners are hypocritical. If I weren't posting from my phone, I could dig up a plethora of threads with such discussion. But, you've been here long enough to know what I'm talking about.

 

I rip welfare fraud and gaming the system. But if people do things legally I won't rip them. My gripe is with the system that allows generational welfare.

I agree. I hope you can agree, as well, that defending corporations form taking advantage of their loopholes yet bashing low income earners are hypocritical. If I weren't posting from my phone, I could dig up a plethora of threads with such discussion. But, you've been here long enough to know what I'm talking about.

 

I do agree. Everyone's ire should be directed at those who allow these loopholes. Like everything else, lobby money rules.

I guess I'm exceedingly skeptical that corporations would change their course and begin paying.

 

If the rates were competitive I think they would. It is quite expensive to put together the plans they do, both in the planning and the execution.

Why is it if I claim mortgage interest it's a deduction but if a corporation uses a legal way to reduce their liability it's a loophole?

Why is it if I claim mortgage interest it's a deduction but if a corporation uses a legal way to reduce their liability it's a loophole?

 

I imagine it's because deductions are deliberately designed to ease the tax burden in certain instances, while loopholes are clever ways of circumventing the "spirit" of the law without actually violating it.

Good point. There are loopholes for both individuals and corporations. They need to be closed.