Republicans say corporate taxes are high relative to other countries. Here’s the Truth:
The blatantly false assertion that “US Corporate taxes are too high” is nothing more than a plausible sounding lie by abuse of statistics which is being used to assert that the marginal (and actual paid) corporate tax rate should be lowered.
Here’s the Big Lie part:
Every single person who is talking about “Corporate taxes being too high in the US” is talking about the Statutory Tax Rate of 39% (aka: Marginal Tax Rate). This fraudulent so called “tax rate” has absolutely nothing to do with the amount of taxes multinational corporations actually pay unless their accountants and tax attorneys are either criminally negligent or criminally incompetent.
Here’s the REALITY of corporate taxes for multinational corporations:
They pay (as in actually remit) single digit percentages or LESS.
GE, Apple, Google, Pepsi, Monsanto, Coke, and dozens of others “pay” LESS THAN ZERO (aka: get a “refund” on taxes which they never paid in the first place).
Look them up here:
US only corporations pay an average of 28%. However, when averaged across ALL corporations the REAL amount collected is about 12.6% of net profit or less. (And that’s less than 1/4 of what individual Citizens actually “get to” pay).
See that flip between collections from corporations vs. collections from payroll taxes? That’s intentional and is being bought from Our Congresscritters with vast roaring waterfalls of corporate bribe money. (Thanks for nothing Scalia and Thomas)
Here’s part of how they do it…
Here’s how they got those “tax loopholes” rammed into law…
Are things starting to become a bit clearer?
Now go look up who voted to keep these fiat laws in place at VoteSmart.org and help me fire them ALL!
Now, here’s a bit which came up as a result of discussion…
Upon review, I’m adding this to my original Answer:
The problem with the current bought and paid for corporate tax “system” is that most multinational companies (and a growing number of national companies) collect enough to pay their taxes from customers, and then sequester (“hide”) that money off shore in an international game of Three Card Monte. … So the Citizens get nailed with a triple, carefully hidden, whammy without even knowing it.
1) Corporations collect tax from Citizens as part of planned revenue.
2) Corporations sequester money off shore (don’t remit collected taxes)
3) Governments increase taxes on Citizens to get the revenue needed to operate…including the amount “missing” due to the unpaid tax bill of the corporation.
4) Thus, Citizens “get to” pay 4 times over to maintain Our infrastructure, even though We didn’t get to profit from the corporate use of it.
Here’s how we pay:
Once as buried in the product price to the consumer. Look at any corporate prospectus for the lines titled “Funds retained in anticipation of taxes.”
Once when these corporations strong arm State and Local tax authority to “give them a break in exchange for a few jobs.”
Once when our taxes get increased to cover corporate evasion.
And finally Once on our own behalf for money that is actually our income.
I realized that this is the game being played with Citizens, State and Federal taxes, by multinational corporations, in 2011 when I experienced a variant of that same rigged game as the result of an employer (Rob – n – son Commercial Appliance) deducting $11,000 in what were ostensibly “payroll taxes” from my checks over the year and then spending them instead of remitting them.
When I filed my taxes Oregon, and the Feds, attempted to bill me a second time for the money I had already paid through payroll deduction.
In this case I was able to drag them into tax court and get clear of that; but how many without my legal knowelege and Asshole Man attitude just “shut up and pay it” as the State and Feds seemed to want me to do?
In the world of taxes and multinational corporations (Which are sucessfully running a variant of this EXACT same game on a National and International level) there is (intentionally) NO court available for the Citizens to turn to!
This. Is. Why. Our individual Federal, State, and Local taxes are rising so fast…. multinational corporations are not remitting the taxes they’ve already collected from Us, and haven’t been remitting them since at least 1990.
So, bottom line, We The People “get to pay” our part four times. Even better multinational corporations use Our infrastructure to generate Their massive profits (plus the “extra,” completely hidden from Citizens, 35% in collected and unremitted taxes).
Do you see the game now… do you see the REAL (Cui F’ing Bono… aka: follow the money) motives behind the B.S. assertion that there should be no corporate taxes? Good. Here’s the Quid Pro Quo: http://sunlightfoundation.com/blog/2009/04/09/return-on-lobbying-investment-22000/
Are you mad YET? You should be absolutely outraged.
Fire. Them. ALL!
With extreme prejudice.