[quote]H factor wrote:
but I’d rather you tell me why you DON’T have a problem with some of the stuff I posted instead of wanting me to find the specific reasons why it happens. [/quote]
Well the statements about the large companies with large profits are missing a lot of key information to determine whether what the journalist is reporting is even accurate, whether it is explained very simply and is infact fair, or if the company is in fact “abusing” a poorly written law.
There are 3 types of income
- Financial Statement Income
- Taxable Income
- Cash Flows
You can have a million dollar gain in 1, a half a million dollar loss in 2, and be cash broke all at the same time, and it is all very legit.
So if the reporter is trying to say Company A made 10 billion under #1, and received a tax refund, they are comparing apples to pears.
The other side is the reporter doesn’t mention what the previous years income/loss was. A company may have 10 billion in income this year, but if they posted 11 billion in tax losses over the last 5 years, they will have a net loss of 1 billion on this years return and get a refund of any money put in.
As for rebates, these could be any number of refundable credits, some of whom are very good ideas and promote activities in buisness that benefit society as a whole.
So it comes down to detail when you start talking about who made what and paid in how much in taxes.[/quote]
Lol at thinking any of these companies have had tax losses. Are you really trying to argue that gaming the system doesn’t happen by politicians and large corporations in a huge manner? I can’t give you all the specifics, but it’s obvious it’s happening all the time and everyone knows it. Why do you think “tax reform” is fought against tooth and nail by big moneyed interests or setup so they can game it? Everyone agreed we needed to reform the big banks, but read about how any progress attempting to be made was thrown out by big money.