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  1. #1
    Taking A Stand!!!

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    Default This is how the biggest companies cheated on taxes in 2016

    If you want to get really irritated, read this.
    Donald Trump wants to cut what some call the “highest corporate tax rate in the world.” The tax cut will, according to Treasury Secretary Steve Mnuchin, “pay for itself with economic growth.”

    Two delusions in one. The realities are far different for anyone who actually considers the facts. And some of the facts about 2016 tax avoidance are shocking and depressing. For example, two of the big banks (JP Morgan and Bank of America) together underpaid their taxes by more than Trump’s proposed $10.6 billion education cuts, which would eliminate or reduce after-school programs, work-study programs, state grants, teacher training, arts programs, and physical education.

    The two banks combined to defer nearly $10 billion.
    This is how the biggest companies cheated on taxes in 2016 - Salon.com

  2. #2
    Retired !

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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Something we all know, but a few refuse to acknowledge is a problem. The real tax bracket is not what number is listed, but what is actually paid. In many cases, like these, it's not much. Yet the wealthy reap the benefits of those magical loopholes ... just like our President.
    Corporations make billions from U.S. research and education, but then they turn around and cheat us on taxes. And Republicans think corporations should get a tax break.
    Republicans and staunch right wing conservatives that feel corporations should get a free ride, while the working man foots the bill.

    Clearly the system works for the wealthy elitists. Not for us. So why are so many fooled in thinking we should give more to the already bloated pockets of the 1% ?

  3. #3
    I Am Rocking Now

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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Quote Originally Posted by fxstc07 View Post
    Something we all know, but a few refuse to acknowledge is a problem. The real tax bracket is not what number is listed, but what is actually paid. In many cases, like these, it's not much. Yet the wealthy reap the benefits of those magical loopholes ... just like our President.

    Republicans and staunch right wing conservatives that feel corporations should get a free ride, while the working man foots the bill.

    Clearly the system works for the wealthy elitists. Not for us. So why are so many fooled in thinking we should give more to the already bloated pockets of the 1% ?
    This is something that Trump is actually trying to fix..But it seems to the left that his prior tax returns are more important..

  4. #4
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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Quote Originally Posted by crazy View Post
    This is something that Trump is actually trying to fix..But it seems to the left that his prior tax returns are more important..
    What a wealthy billionaire ( he says ) paid is important. It speaks to his honesty.
    Trying to fix the tax issue ? Really ?
    Seems everything I read shows he clearly wants more concessions for the wealthy.
    A little-noticed provision in Donald Trump’s tax reform plan has the potential to deliver a large tax cut to companies in the Republican presidential nominee’s vast business empire, experts say.
    The new Center for American Progress study says that despite its reputation as a small-business tool, 70 percent of pass-through income flows to large businesses and eventually into the hands of the top earners. That’s because so many financial firms are organized as pass-throughs, and so many of America’s top earners work in such firms.

    The CAP authors estimate that the rise of pass-throughs cost the federal government nearly $800 billion in tax revenue between 2003-2012.
    Does this sound like a "fix" to you ? Or is it something to benefit the majority of the wealthy business people ?
    Trump’s companies would appear to benefit significantly from that cut, though it is difficult to say exactly how much since they do not publicly report their finances. Trump has declined to release his personal income tax filings, and in the past, Trump has boasted of his strategies to minimize his tax payments.
    So back full circle ... yes, I want to know what he's hiding, what he's paid in taxes and I, along with millions of other people, want to see his tax returns.
    https://www.washingtonpost.com/news/...=.442b55fcbb7f

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  6. #5
    I Am Rocking Now

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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Quote Originally Posted by fxstc07 View Post
    What a wealthy billionaire ( he says ) paid is important. It speaks to his honesty.
    Trying to fix the tax issue ? Really ?
    Seems everything I read shows he clearly wants more concessions for the wealthy.

    Does this sound like a "fix" to you ? Or is it something to benefit the majority of the wealthy business people ?


    So back full circle ... yes, I want to know what he's hiding, what he's paid in taxes and I, along with millions of other people, want to see his tax returns.
    https://www.washingtonpost.com/news/...=.442b55fcbb7f
    How many times does he have to tell you that he did indeed take advantage of all the tax loop holes that were allowed.. This is what he wants to fix.. He wants everyone to pay their share.. Business tax deductions ?? probably more than there are words in the dictionary.. But the left will still go after his tax returns.. One was leaked.. MSNBC couldn't wait to get in on air and it was nothing more than MSNBC opening their mouth and putting their foot in it.. These businesses use the best accountants they can find..

  7. #6
    Retired !

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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Quote Originally Posted by crazy View Post
    How many times does he have to tell you that he did indeed take advantage of all the tax loop holes that were allowed.. This is what he wants to fix.. He wants everyone to pay their share.. Business tax deductions ?? probably more than there are words in the dictionary.. But the left will still go after his tax returns.. One was leaked.. MSNBC couldn't wait to get in on air and it was nothing more than MSNBC opening their mouth and putting their foot in it.. These businesses use the best accountants they can find..
    Then why does his proposals benefit his type of companies ?
    Questionable to say the least.

    Aside from the fact he never fully divested himself from his corporate empire. Again, very questionable.
    While the president says he has walked away from the day-to-day operations of his business, two people close to him are the named trustees and have broad legal authority over his assets: his eldest son, Donald Jr., and Allen H. Weisselberg, the Trump Organization’s chief financial officer. Mr. Trump, who will receive reports on any profit, or loss, on his company as a whole, can revoke their authority at any time.

    What’s more, the purpose of the Donald J. Trump Revocable Trust is to hold assets for the “exclusive benefit” of the president. This trust remains under Mr. Trump’s Social Security number, at least as far as federal taxes are concerned.
    It's all about ... Trump.

    https://www.nytimes.com/2017/02/03/u...ness.html?_r=0

  8. #7
    I Am Rocking Now

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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Quote Originally Posted by fxstc07 View Post
    Then why does his proposals benefit his type of companies ?
    Questionable to say the least.

    Aside from the fact he never fully divested himself from his corporate empire. Again, very questionable.

    It's all about ... Trump.

    https://www.nytimes.com/2017/02/03/u...ness.html?_r=0

    article a wee bit old??

    FEB. 3, 2017


    I guess we can agree on one thing.. You dislike Trump more than I disliked Obama.. Until proven wrong I will support Trump..

  9. #8
    I Am Rocking Now

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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Cutting corporate taxes does indeed help with competition.

    Your government is collecting record taxes over 3 trillion.

    No matter how you cut it all taxes are paid by the people.

    Billionaires already have their money, it's called income tax so you are taxed only on your income and NOT worth. Tax them heavy and the money is removed from economic activity and moved to safety.

  10. #9
    Steward

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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Crazy crazy, many moons ago I thought you were an elder mentor, but I am ashamed, look at me now Attachment 1093

  11. #10
    I Am Rocking Now

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    Default Re: This is how the biggest companies cheated on taxes in 2016

    Quote Originally Posted by fedexnuno View Post
    Crazy crazy, many moons ago I thought you were an elder mentor, but I am ashamed, look at me now Attachment 1093
    Your not ashamed!! Your just not up to speed just yet!! BUT!! There is still hope for you.. And I am the young elder mentor.. At least you got that right..

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