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News yesterday: Corporations had their best year since 1900

Posted: Apr 5, 2011

Depression for some and more luxury than ever before for others.

When I look at our economy over the last 5-6 years, I see a very wide range of properity vs. economic depression.

I truly believe that those in the poor-to-middle class are headed for depression, while the news this week was that corporations had their best year since 1900. They just aren't sharing with the rest of us.

;

So did you have your best year ever, at least since 1900? :) - Proud American

[ In Reply To ..]
I, unfortunately, did not have my best year ever. In fact, I'm concerned if it continues on the trend it has been on since 2002, the time when my personal graph shows things started going downhill for me.

Anyone who had their best year ever are the rich. - The Republicans are (sm)

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only interested in making the rich richer and to exterminate the middle class. They want a country that consists of only the very rich and the very poor. Probably those who work for BMW, airplane manufacturers, yacht salespeople, etc. had a good year.

Ryan certainly isn't hiding this fact in his budget, which I hope falls flat on his face.

As for me, I'm taking my money out of the bank and hiding it at home, just in case we (the lower middle class and the poor) begin to see bank runs as a result of the Republicans and their "budget."

First question would be...if you don't work for - one of those corporations

[ In Reply To ..]
exactly what should they be sharing with you? And if you do work for one of them...by the way, which ones are you talking about? There are thousands of "corporations" in this country. Generalities like this don't help.

To know if this statement is true...need to know specifically which corporations we are talking about, and then need to check out their employees and find out how they are doing. If they still have a job they are ahead of a lot of people in this country.

You do realize that "corporations" are the backbone of this economy, right? Biggest employers, especially through trickle down (the suppliers who supply materials and services to them to make their products, the suppliers of the suppliers and on down the chain). Hundreds of thousands of people depend on those corporations for goods, services, and most of all, jobs. Local economies benefit from corporations who build in their area.

Just what exactly is it you want corporations to do? Put all their profit in a pot and divide it among every person in the United States?

If you are talking about corporate taxes, then you need to be talking to your Democrat and Republican congresspeople, because THEY make tax law and THEY are the only ones who can close the loopholes.

And, it is a fact that anyone, regardless of their income bracket, will take any loophole, program, deduction they can to make their burden lighter. It is not just a "rich" or "corporation" thing. Yet people demonize them for doing the same things they themselves do.

So...start lobbying your representatives to get those tax loopholes closed.

Rep. Ryan from Wisconsin in his budget plan makes some really tough decisions to cut 6 trillion bucks in spending...among that tightening up farm subsidies, closing tax loopholes and overhauling the taxation system in general...and frankly, we are in a place where tough decisions HAVE to be made before our economy crashes and burns for good and you see a REAL depression.

Here you are. I did a quick Google and took the top 3 stories - Google for more

[ In Reply To ..]
According to Forbes:
What The Top U.S. Companies Pay In Taxes
Christopher Helman, 04.01.10, 03:00 PM EDT
How can it be that you pay more to the IRS than General Electric?
image
http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corporate-taxes.html

What The 25 Top U.S. Companies Pay In Taxes

HOUSTON -- As you work on your taxes this month, here's something to raise your hackles: Some of the world's biggest, most profitable corporations enjoy a far lower tax rate than you do--that is, if they pay taxes at all.

According to the Washington Post:
http://www.washingtonpost.com/wp-dyn/content/article/2008/08/11/AR2008081102324.html

About two-thirds of corporations operating in the United States did not pay taxes annually from 1998 to 2005, according to a new report scheduled to be made public today from the U.S. Government Accountability Office.

In 2005, after collectively making $2.5 trillion in sales, corporations gave a variety of reasons on their tax returns to account for the absence of taxable revenue. The most frequently listed included the cost of producing their goods, salary expenses and interest payments on their debt, the report said.

Funny you should pick Obama's pet corporation... - GE.

[ In Reply To ..]
At any rate, again...it is exactly what I said. If there are enough deductions and loopholes to prevent them from paying any taxes, then you need to look to Congress to close the loopholes (Congress makes tax law, so they are the ones who put the loopholes in the first place) and stop blaming corporations for taking them.

There are people who also use every program, deduction, etc. known to man who are not rich or corporations. There are people who work all year but because of credits etc. aimed at lower wage earners, they get it all back. They should not get away with paying no taxes any more than rich people should. Anyone who is working needs to pay into the system at the same flat rate, no loopholes, no credits, no NOTHING. That would bring a significant amount into the treasury, you would know exactly what your tax burden is, and we would not need the huge beauracy the IRS is and the billions spent on THAT department could be funneled elsewhere.

The point is, we need to get to individual responsibility, and everyone, regardless of how much you make, needs to pay into the system, whether your income for a week is $100 or $10,0000. One is going to pay $10 and one is going to pay $1000. Both can afford it and both need to pay it.

If everyone was paying 10% of gross to the government, we would have no problems and no one could grip because it would be the same across the board, everyone paying his share according to what his gross income was.

What is wrong with that?

What's wrong with that? Because if I am rich enough I can hide that income - so I still will not be paying any taxes

[ In Reply To ..]
Easy. I still won't pay taxes as a huge corporation because I'll just hide the income. That's what tax accountants are for, right?

If they are "hiding" it there is a tax loophole - allowing them to do it

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or we are spending way too much on IRS agents and treasury agents.

Come ON.

Well, I won't have to pay taxes on that money I made overseas though - because that is easy to hide

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Other countries don't have pesky government regulations that would keep me from hiding my money there. Problem solved.

Yes, and if you tax me at a rate 3 times higher - than that country, I will

[ In Reply To ..]
continue to make my money there...as YOU would if YOU were the business owner, and don't for 1 second act like you would not. At least be HONEST about it.

I know of a lot of MTs who went to Saudi a few years back for that very reason, untaxable income. They stayed for about 3-4 years, made money hand over fist that they did not pay taxes on.

So if you are going to condemn coporations for doing it, condemn the construction workers, oil workers, and yes MTs who did the same darned thing!

Why don't you just post SUPPORT INCOME REDISTRIBUTION and be done with it, because that is what the veiled message is.

Geez.

You're wrong again - Please see message

[ In Reply To ..]
I was one of those companies that was offered a lucrative deal for moving to another country. I said I wouldn't leave my husband, so they said they would set him up with a very lucrative job too. I didn't take it. Not all of us can be bought that easily. It wasn't the ethical thing to do. That matters to me.

Oh please, stop with the I am one of those - companies....I don\'t

[ In Reply To ..]
believe you. If you really buy house for cash, car for cash, what are you doing on an MT posting board? COME ON. This is another DNC campaign to promote socialism.

It other words, this is a crock. Obama announces re-election and all these I am a big bad business owner posts show up. And really expect people to buy this crud?

This horse arrived dead so I for one am going to stop beating it. Oh but since you are probably paid per post, do go on. You might try Huffpost, though you would be preaching to the choir.

I've noticed that when you don't like something some says, you discredit it - Not working this time

[ In Reply To ..]
I've seen the same method and the same wording used over and over on this board, every time you didn't like what someone said. You claim it didn't happen, isn't true, it's a crock, the person is lying. Sorry, charlie, but you aren't running this one off just because you don't like the message. Try someone else.

Well, it is suspicious when all of the "first- - hand" knowledge stuff

[ In Reply To ..]
started appearing and all of a sudden someone had first hand knowledge of a birther, and first hand knowledge of a crazy tea partier, and now we have a rich business owner on our little board.....seriously??

If you don't like being called out, don't do it. And yes, I know you are the business owner, and yes I suspect you are also the one who had first hand knowledge of the birther and first hand knowledge of the crazy tea partier as you all showed up at the same time.

You discredited yourself, with very little help from me, especially when the big business owner resorted to sorry charlie you aren't running this one off.

LOL - geez. Really???

How about you try someone else - sm

[ In Reply To ..]
I am not the original person you were holding this discussion with. You claim this person discredits anything they don't agree with. I'm sorry..but I have to agree with that poster. If you are a small business owner making enough cash to pay cash for expensive and large items....why in God's name are you posting on an MT board? Either your story is completely and total crap and/or you have no business posting here anyway.

I also totally agree with the person who said all people take advantages of the loopholes...including middle class and poor. It just isn't a scandal if you do it and aren't rich. If the loopholes are there....everyone is going to use it. That is just the way human beings are. If those loopholes weren't there, they couldn't use them. Kind of like the people who are against the Bush tax cuts. I didn't see them refusing the money they received from said tax cuts. End of story....PERIOD.

Furthermore, there are many people on the left who discredit everything they disagree with merely by putting their blinders on and refusing to see the big picture because the news media told them what to believe. Take your BS elsewhere. We are already full here with the liberal nut jobs who are MTs on this board. Good day!

Finally, someone with ethics on this board. - Thank you. nm

[ In Reply To ..]
nm

ROFL. Now THAT is a good one. - nm

[ In Reply To ..]
nm

I don't understand the muck about Obama and GE - Isn't learning and cooperation a good thing?

[ In Reply To ..]

Please see link inside... - and remember while you

[ In Reply To ..]
are reading how Democrats love to demonize corporations...look how many employees GE has now compared to a few years ago, and look how many of THOSE are US based. About HALF are NOT. And Obama puts the CEO of GE on an economic advisory board.

Now if that is not talking out both sides of your mouth, don't know what IS. THAT is the issue.

That's a red herring, but if it's all you've got... - nm

[ In Reply To ..]
nm

When you cannot refute, post nonsense... - get a new schtick.

[ In Reply To ..]
Actually, if you did not respond at all it would not look as bad for ya. Just a hint.

Thanks for trying to BULLY away opposing views, but - not taking the bulling

[ In Reply To ..]
American workers have had enough bullying. Events over the last couple of months have changed things. You can continue to play the bully, but you won't find as many victims. I'm not your victim.

Oh and "that's a red herring if that's all - you got" is not trying

[ In Reply To ..]
to bully away opposing views? Come on! You tried to bully me and I wouldn't take it, and now you want to pick up your toys and go home.

Please. Don't dish it out if you can't take it.

As stated...would be better not to reply to a post at all if you can't refute what the post says, rather than resort to bullying and taunting ("if that's all you got" is certainly a taunt).

I didn't read that the person above was going to pick up her toys and go home - Where did you get that?

[ In Reply To ..]
I think he/she said the opposite. You know, I think a lot of people are tired of the bullying. We've had it with bullying on the job. We've had it with bullying in politics. We've just had it with bullying, period.

Yes, I am tired of bullying too. Which is - exactly what OP did

[ In Reply To ..]
with the red herring et all comment. Point being, don't bully and then whine when someone stands up to you. Which is also what OP did.

I thought the "victim" speech was indicative of taking toys and going home. You took it differently. Human beings do that.

However, bullying was pretty obvious. He/she did it, and when it was returned to them, whined and complained about bullying.

The best answer is stop bullying, period. If OP has a problem with a post, why not state which part was a "red herring" instead of the bullying and taunting of "if that's all you got."

Had OP done that, about half of this thread could have been avoided.

We disagree. - And there you go again...

[ In Reply To ..]
and there you go ahead with the accusations of whining and complaining.

OP was whining and complaining about being - bullied....for being called

[ In Reply To ..]
out on her/his own bullying.

And now you are whining and complaining on his/her ... or YOUR ... behalf.

Dead horse, let\'s stop beating it.

Making the troublemaker the bathroom monitor - The way I see it

[ In Reply To ..]
I think it is great that Obama is open to many different view points in solving problems. I think it works way better than the Bush phiolosophy of just not talking to people who disagree with you, or Republican/T-party plan of just stomping on worker's rights. If you were a computer security company, who better to hire than a hacker? You learn and come up with new solutions. Yay, Obama!

Yeah, I love the way Obama is concerned about - the viewpoints of ALL

[ In Reply To ..]
the American people...he is open to any viewpoint that he is in agreement with and none that he is not.

Complain about offshoring but hire a guy who offshores half his labor (over 100,000 jobs). That is pretty much stomping on the 100,000 who lost thos jobs. Hey...I thought he was all about creating jobs...didn't he promise that? But he gives a job to a guy who offshored over 100,000 jobs?

Yay Obama? Seriously???

Since pretty much all corporations are offshoring these days - Makes sense to me to talk to them

[ In Reply To ..]
He has to talk to corporations who offshore. Otherwise he couldn't talk to corporations at all.

Good post. I couldn't agree more. - nm

[ In Reply To ..]
nm

Rationalization at its best. IF he was a - Republican you would be

[ In Reply To ..]
screeching at the top of your lungs. LOL. Priceless.

If I owned a computer security company, the LAST thing - Backwards Typist

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I would do was hire a hacker to let myself open to lawsuits after the hacker stole bank account records, SS#s, etc. That doesn't make sense.

Companies are hiring hackers these days as part of security defense - see message

[ In Reply To ..]
They are hiring people to attempt to hack into their sites and to find holes in the security. There are even courses that people are taking to teach them how to hack into business accounts. There's a big market for that these days.

That is silly. Of course, you would keep a close eye - sm

[ In Reply To ..]
You like articles--here is one:

http://www.techrepublic.com/blog/security/hiring-hackers-the-good-the-bad-and-the-ugly/4209

As the article states, there is a different mindset for someone who is trying to break in -vs- someone who is defending. Just like basketball.

Know thine enemy.

sharing - icedT

[ In Reply To ..]
What do you mean by sharing with the rest of us? I'm not trying to be a smart aleck (as my mom would say), but I'm really curious what you mean by sharing with the rest of us. Again, I'm not trying to be a smart aleck, but do you know a fair way to give money from the rich to the poor and middle class? I don't - that's why I'm asking.

I'm talking about the "trickle-down" theory; I make more, so pay my workers more - or keep it all for myself and execs

[ In Reply To ..]
I 'could' share my huge profits by paying more salaries and providing some benefits, OR, and I think this is a better idea for my own purposes, I could 'invest' a few million in my top executives, buy a couple of vacation homes in Europe, maybe an island retreat, take some extended vacations, uh, I mean business trips, and then find a way so when I retire or get kicked out, I can take more with me. Sharing with the employees, other than the top execs, is not an important priority for me.

I would like first to know how much of your - "huge" profits are going to

[ In Reply To ..]
your investors whose money you are operating your company on.

And if you are a car corporation, the UAW is making sure your employees are making plenty of money and bennies, even if it means closing a plant or two to pay for it.

Same old same old. Demonize the rich, give the masses someone to blame, to make socialist redistribution of wealth more palatable.

This first person thing is new though. Did the DNC have another conference call? You can always tell when the mass mails go out. lol.

sharing - icedT

[ In Reply To ..]
Do you want the government to tell you how much of the huge profits from your "company" should go to employees with larger salaries and more benefits? If not, who gets to decide? The free market maybe? Meaning, those companies who offer the best pay and benefits get the best workers? Novel idea.

By the way, I assume the last sentence was your "slam" at the wealthy corporations and lack of sharing by giving you a higher salary and providing some benefits?

My point is, everyone should pay taxes - sm

[ In Reply To ..]
It has been said that if we give back money to the corporations rather than having them pay taxes, they will hire more people. It hasn't happened. We see time and time again that companies with the highest profits take those opportunities to cut jobs, yes, agreed, making the stockholders very happy. That's fine. Just don't take taxpayer money in subsidies, and pay your own share of taxes like the rest of us are required to do. Then nobody will ever suggest that you should hire more people because you aren't using our money, it isn't any of our business.

subs - icedT

[ In Reply To ..]
LOL. Agreed, but don't get me started on subsidies, AKA ObamaCare.

We disagree about the last part of your message though - lol

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Close, but not total agreement. We tried though.

Do you have a mouse in your pocket? - Who is "we."

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Just curious.

me - icedT

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I think she was talking about the two of us, since we were having our own little discussion above.

So do you know a fair way to give money from the - poor and middle class to the rich? nm

[ In Reply To ..]
nm

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