Verizon, Eat my shorts!

[Bill Cravener]

Yet another big corporation ripping off American citizens. The Democrats want to bring to an end these big corp loopholes but them goshdamn Republicans don't want to hear it, phuk them bastards!!!!!!!

http://files.cwa-union.org/national/verizon/2011flyer_taxes.pdf

[Gunner]

Very very easy to get rid of corporate loopholes...  Get rid of "campaign contributions" our any political money donations...

[dedndave]

too late, Rob
they have to go back and get rid of too much crap, even if they did get rid
of campaign contributions and lobbyism

we need a nice "start from scratch" approach, i am afraid
go back to the constitution and begin from there

[Gunner]

Yeah, the Constitution does need an update... BUT that is a very dangerous thing...

[dedndave]

well - the constitution isn't too bad off
it's everything they have piled on top of it, since, that is mucking up the works
a prime example is lobbyism
it has been a while since i have read the constitution, but i don't recall seeing lobbyists mentioned   :bg
they have no place in our government

[Bill Cravener]

Republicans want to lower the tax rate that corporations pay. After all they say, corporations are people too. Each of these bastards are sitting on some 2 trillion in profits yet they care not about creating jobs here in America.

Top ten list: Tax evaders' wall of shame.

1. Bank of America took $336 billion in bailouts in 2009, but in 2010, flush with $4.4 billion in profits, it paid no taxes. Even Forbes magazine asked, how is that possible? Probably thanks to their 115 offshore tax havens.

2. Boeing just received $35 billion from our government to build 179 airborne tankers, but despite nearly $10 billion in profits from 2008 to 2010, it too paid no taxes, again thanks to foreign tax havens.

3. Citicorp took $476 billion from the bailout and then made monster profits in 2010, yet it paid no taxes, thanks to 427 subsidiaries in tax havens like the Cayman Islands and Hong Kong.

4. Exxon/Mobil, received huge oil subsidies from the government and earned $45 billion in 2009 but paid no taxes, again thanks to stashing profits in places like the Bahamas and Singapore.

5. GE's success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. In fact, GE got a $3.2 billion tax benefit.

6. Google utilizes a technique that moves most of its income through Ireland and Netherlands to Bermuda, making its tax rate 2.3 percent.

7. Mega Pharmaceuticals Merck earned $9 billion in profits and paid no taxes in 2010, while Pfizer (largest drug maker) owed $10 billion in taxes but found the necessary loopholes to pay no taxes, thanks to its offshore subsidiaries in places like Luxembourg and the Isle of Jersey.

8. News Corporation, Rupert Murdoch's media monolith that owns Fox News avoids paying American taxes through its 152 subsidiaries in tax havens from the British Virgin Islands to Hong Kong.

9. Verizon, despite making $24.2 billion in pre-tax US income, paid no taxes and actually claimed a federal refund of $1.3 billion for the last two years, again all thanks to those offshore subsidiaries.

10. Wells Fargo, the fourth largest bank in the US, which took $107 billion in bailouts, wrote off all its losses by acquiring Wachovia, thus paying no taxes. Yet its CEO earned $5.6 million in cash for his salary and $13 million in stock. 

[dedndave]

all big businesses can be on that list, Bill
most small ones want to be and try to be

one thing that erks me even more than "tax allusion" is the bankruptcy laws
they create businesses, go backrupt, and come out of it with a profit
all at the expense of US taxpayers

[Bill Cravener]

Will I'm a small business and I have to pay taxes, too many taxes. I don't get any loopholes nor am I setting on 2 trillion dollars in record profits or shipping jobs over seas. Phuk them greedy bastards!!

[dedndave]

chapter 11 - you'll make a mint   :P

[dedndave]

you'll want to start out by creating an umbrella company (on paper)
the parent buys out the subsidiary, as an "investment" (tax breaks)
then, the little one goes belly up
the parent company declares it as a loss, now - and gets a refund instead of paying taxes
in the mean time, you "part-out" the little one like an old car, and make money on that, too
much of the debt owed is written off - again, the taxpayer picks up the tab

how do you think guys like trump got rich ?
that is OUR tax money that is jingling around in their pockets

i mentioned this in another thread....
by playing the game, you become part of the problem
but - who cares, you got rich doing it

[Gunner]

you'll want to start out by creating an umbrella company (on paper)
the parent buys out the subsidiary, as an "investment" (tax breaks)
then, the little one goes belly up
the parent company declares it as a loss, now - and gets a refund instead of paying taxes
in the mean time, you "part-out" the little one like an old car, and make money on that, too
much of the debt owed is written off - again, the taxpayer picks up the tab

how do you think guys like trump got rich ?
that is OUR tax money that is jingling around in their pockets

i mentioned this in another thread....
by playing the game, you become part of the problem
but - who cares, you got rich doing it

Dave, sounds like you have experiance in doing this... SHHHHHH I won't tell anyone  :bg

[dedndave]

i haven't done so because my moral standards are higher than acceptable business ethics
don't think it isn't tempting, though   :P

[Bill Cravener]

Sad isn't it? In other words be as un-American as you can, suck the average taxpayer dry then spit in their face and ship the jobs overseas. Pigs at the trough. They are un-patriotic scum! If you want to see these pigs continue to steal from Americans then vote Republican.

[Gunner]

What gets me here in NYC (I am sure every state) is that they don't want companies going elsewhere, so they give them tax breaks and the such....  So the mom and pops don't get them and can't compete so they go out of business..

[Bill Cravener]

Sadly that is so true Gunner. I've spent near 60 years in my area of the country and there are very few mom and pop businesses left in these parts. I do still remember most of them though. It's a real shame big corp forced them all to close their doors.