K.F. asks from Carmel, CA on November 23, 2011
Why Doesn't This Make You Angry?
I so enjoyed all the responses to my last question and in thinking about it I have a few more. We are out the door for a trip right now and if my husband catches me on here he'll flip so here's a quick and easy one...
Someone asked to see evidence on how some massive corporations don't pay any Federal Income Tax. The article below is from 2009 but I've been hearing about this from many sources for years.
Why does the fact that huge corporations don't pay thier fair share not make you crazy mad? Why is it OK for companies and extremely wealthy people to manipulate the rules, in many cases lobby and change regulations, so they get to keep more profits and income at the expense of the country?
Our government serves many important roles and regulating big business is one of them. Over the last few decades, under both dems and repubs, our democracy has been undermined by those in power, those with the most money.
Why would any average American, not making 500K a year, argue for this injustice?
Happy Thanksgiving!
http://www.oil-price.net/en/articles/How-Exxon-paid-zero-...
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J.W. answers from St. Louis on November 23, 2011
I actually don't see anyone publicly saying keep the loopholes, quite the opposite. Privately every politician knows they we lose campaign donations if they close the loopholes now.
Until people realize that these things happen due to regulation and laws nothing is going to change. Stop crying we need more regulation because every new regulation comes at a benefit to some groups and the expense of others. Same thing with tax laws.
All tax rates need to be lowered, even those for the "rich" but at the same time every deduction needs to be removed. Only then will the system be fair.
8 moms found this helpful
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C.W. answers from Santa Barbara on November 23, 2011
To a previous poster below....you may "think" that the road crew is working harder than the CEO of a huge public corporation but do you know what goes into getting/keeping a job like that? Do you know how many employees and shareholders he is responsible for?
We have choices what we can do with our lives: apply at McDonalds, working the road crew, be a stay at home parent or if we want go to school and work our way up to something else we can. Of course not everyone requires the degree but you know what I mean. We. Have. Choices!
15 moms found this helpful
J.K. answers from Kansas City on November 23, 2011
I really get tired of people whining about this. I agree that everyone should play their fair taxes. I do. My husband and I own a small business, and we pay dearly for our taxes. We do not cheat. BUT WE HAD A CHOICE to open up this business, and pay what we owe. I agree with Christine W, we all have choices. You have a choice to go to school, or go get a job, which will more than likely not be the best job for a family, when you reach adulthood. That was your choice. If you want more, CHANGE IT. As far as big companies having to have healthcare as a benefit, I don't agree that they should be made to do that. They are not in business to provide anything for their employees, other than a paycheck. The rest is just that, A BENEFIT. Benefits are something they give out of the goodness of their heart, if I can say it that way. Walmart included.
13 moms found this helpful
M.P. answers from Portland on November 23, 2011
Because the issue is extremely complicated. When I read the article it made sense for the most part that they didn't pay the taxes. They paid foreign taxes and they lost money which then means there is nothing on which to pay taxes.
Even as a private citizen I don't have to pay taxes on money earned out of the country. I pay taxes in the country in which I earned the money. Same for state taxes. I earned money in AZ. I don't pay taxes in OR.
It's much more complicated than that. I suspect we need to change some laws. I'm not knowledgeable enough to comment on how to do that.
I also suggest that the large corporations do provide jobs and contribute to our economy in that way.
This is just too complicated for me to get angry over it. Anger solves nothing and wastes the energy I need to do something about the things I do have control over. I can educate myself about candidates and vote for those who know more about it than I do. No anger needed.
13 moms found this helpful
T.K. answers from Dallas on November 23, 2011
It burns my toast. I am sick of hearing that we are punishing thier hard work. The road crew outside my office works much much harder and they do it sun up to sundown, 100 heat and blowing snow and ice. They have no retirement, no healthcare, no golden parachute. That's hard work. Sitting at a desk deciding which division to close and layoff and which resort to hold the company retreat, not so much hard work.
My boss is one of those guys that rails against welfare queens taking his hard earned money and not paying thier share.
I heard him bragging about how he was taking advantage of some screwy tax loophole that allows him to signifigantly cut his taxes (by more than $10,000 a yr) and I asked if he thought it was right. He said "no, but that's the way the system is set up, so why not take advatnage of it." I asked, then why is it wrong for a poor single mom to take advantage of the help available? That's the way the system is set up, right? She takes advantage of that system for a luxurious $300 a month in food stamps. Not exactly equal to the 10,000 he makes off with every year. He got flustered and turned red and got mad.
11 moms found this helpful
M.M. answers from Chicago on November 23, 2011
So in the case of my company, which is about 7K employees, all those tax loopholes benefit ME as the employee. Meaning, the more money we save on tax breaks and the like, the more is cascaded down to me as the coworker.
I haven't seen a raise in my insurance rates in 5 yrs, despite the 2009 downturn. That's because my company has been able to absorb that additional cost on behalf of the coworkers. It's a benefit for us.
Now while the huge bonuses that some get are ridiculous, I'm able to recognize some of the benefits to the existing tax system.
10 moms found this helpful
M.W. answers from San Francisco on November 23, 2011
It doesn't make me angry at all. I am grateful that these companies provide jobs in our country instead of going overseas where it is cheaper. I live in CA and it is darn expensive to buy or even lease a plot of land. There are so many codes and regulations..it is ridiculous. I don't mind tax breaks to entice these companies to come here and stay here. We are having a problem with companies packing up and heading to Nevada and Texas where it is cheaper.
It makes me sick to drive past the vacant SOLYNDRA building knowing that our tax dollars were pumped into that failing business. That is what makes me pissed!!! Give tax breaks...not my hard earned tax dollars!! My husband recently interviewed a person from that company...poor guy lost his job and he had no control over it. Yet, the business execs. knew the company was failing and still got paid huge salaries and took bonuses. That is maddening.
I am grateful that the "big evil company" that employs my husband has not raised our health insurance..did a hiring freeze and cut back on travel expense/entertaining expenses instead of firing a buttload of people to ride this recession wave. The company gets lots of tax breaks...which helps them offset expenses to then employ so many people...and keep them employed.
Run your own business and see how hard it is to keep afloat amid all the laws, codes, regulations,worker's comp. etc.
Good luck and best wishes!
10 moms found this helpful
C.P. answers from Columbia on November 23, 2011
I guess it depends on what you consider to be "fair share."
I personally have gotten back more than I've paid in on multiple occasions. How is that me paying my fair share?
I can't hire anyone, nor can I provide infrastructure, nor can I potentially expand my hiring base. These big businesses can. And the more we allow the government to take from them, all the while lining OUR pockets with other taxpayer's money (because that's what a tax refund is...other people's money!), the less they are able to employ and expand.
If you want people to have jobs, you can't hate the corporations who have the ability to hire them because they have money.
If you want corporations to pay a specific wage, you can't complain when small businesses lay off people...because those big corporations are the only ones who have the liquidity to be able to absorb those major wage changes.
And if you want to talk about fair shares, perhaps instead of attacking the companies who can provide jobs, we should talk about the people who are getting money redistributed to them that doesn't belong to them...taxpayer monies...and aren't contributing ANYTHING.
9 moms found this helpful
J.W. answers from St. Louis on November 23, 2011
I actually don't see anyone publicly saying keep the loopholes, quite the opposite. Privately every politician knows they we lose campaign donations if they close the loopholes now.
Until people realize that these things happen due to regulation and laws nothing is going to change. Stop crying we need more regulation because every new regulation comes at a benefit to some groups and the expense of others. Same thing with tax laws.
All tax rates need to be lowered, even those for the "rich" but at the same time every deduction needs to be removed. Only then will the system be fair.
8 moms found this helpful
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