2008-2010, 30 Big Corporations Spent More Lobbying Washington Than They Paid In Income Tax

quote]Originally posted by OutKast Searcher
reply to post by -W1LL


You and others are the ones making a claim that is untrue...a lie you have accepted because it helps renforce the world view you have implanted in your mind.

Fact: GE did not recieve a tax refund from the government.

Do you dispute that? Because I never saw you or the others making the claim to the contrary ever come out and say they were wrong about that.

that your opinion and its been read and filed...

GE did receive money from the Gov.

reply to post by -W1LL

GE did receive money from the Gov.

Proof?

I provided the best and most recent data I had access to that proves otherwise. You must have some other source that backs you up since you are making this claim.

I would LOVE to see your proof for that statement.

Originally posted by OutKast Searcher
reply to post by -W1LL

 

GE did receive money from the Gov.

Proof?

I provided the best and most recent data I had access to that proves otherwise. You must have some other source that backs you up since you are making this claim.

I would LOVE to see your proof for that statement.

edit on 7-12-2011 by OutKast Searcher because: (no reason given)

lol what proof? i NEVER said gE got a tax refund i said they received money from the GOV. what else would you like to call it there are many ways to re-word my posts.

Proof that GE got a tax refund check from the government.

reply to post by -W1LL

lol what proof? i NEVER said BE got a tax refund i said the received money from the GOV. what else would you like to call there are many ways to re-word my posts.

Then PROVE they recieved money from the Government.

It would just be easier for you to admit you are wrong then trying to dodge.

Originally posted by OutKast Searcher
reply to post by -W1LL

 

lol what proof? i NEVER said BE got a tax refund i said the received money from the GOV. what else would you like to call there are many ways to re-word my posts.

Then PROVE they recieved money from the Government.

It would just be easier for you to admit you are wrong then trying to dodge.

if you say so.. its already been stated in the thread. I dont need to prove anything to you your ignorance is yours not mine.

reply to post by -W1LL


LOL...no it hasn't been proved ANYWHERE in the thread.

Just keep dodging...because deep down you know you are wrong.


It's really simple to prove things when you aren't wrong...because you have sources to back you up...you don't have to dodge or claim it's already been proven. In fact if it has already been proven in this thread...just direct me to that post...simple.

Originally posted by -W1LL


if you say so.. its already been stated in the thread. I dont need to prove anything to you your ignorance is yours not mine.

Just stating something does not make it so

"A report released this month by Public Campaign demonstrates just how important it is for Americans to battle corporate special interests and reclaim our democracy. The group’s research finds that thirty big corporations actually spent more money lobbying the federal government between 2008 and 2010 than they spent in taxes. For example, General Electric — one of the top 10 most profitable companies in the world — got a net tax rebate of $4.7 billion during this period. Meanwhile, it spent $84 million lobbying the federal government."

The operable word is "rebate". Do you know what a rebate is? It's a return of moneys previously paid in. Yes, these corporations paid some taxes, but then they received rebates which were rescinded back to them. They received money back in amounts greater than the amount due from them, resulting in a negative tax liability.

reply to post by QueSeraSera


Read the thread we went over that. The NY times ran a piece saying that they got a tax credit which they counted on the uneducated masses (99%) to run with the idea that credit=rebate/refund.
Did you notice how they did not provide any links or quotes for their "report"

reply to post by PrimalRed


Perhaps you should go back and read this post.

reply to post by OutKast Searcher


Are you familiar with Negative Tax Rate? What happens when a corporation files at a negative tax rate they get a what from the government? You can say it...check. Not too hard, right?

salon.com or page 5 on this study.

Yes, General Electric is receiving money from the Federal government that was given to them by way of these incentives to put people back to work. Yet, General Electric still continues to outsource manufacturing of locomotive parts and household appliances to Mexico and China. If they were given the money to put people back to work. Then are they spending it on putting people to work in China and Mexico instead of the United States. I guess it has a lot to do with less stringent labor laws and the fact that there are no unions in China and Mexico.

reply to post by OutKast Searcher

I'm wondering if everyone that is complaining about corporations not paying taxes pay their income tax in full while claiming no deductions or tax credits???

Actually, the Federal Income Tax is based on the 16th Amendment which was never ratified. Therefore if it was not ratified by the correct amount of States (3/4) it is not an Amendment, it is still a proposed Amendment and subsequently does not have the force of law. Ignoring the 8 Supreme Court rulings which have been handed down saying that the 16th Amendment did not grant any new powers of taxation and following our present line of reasoning, if the 16th Amendment does not have the force of law the old stipulation that all income taxes be apportioned would still stand. As American citizens we have an inherent duty to oppose and not uphold laws which are against the Constitution, therefore not paying your Federal Income Tax would be a patriotic act, especially when you consider that the Grace Commission under Reagan told us that every nickel of Individual Income Tax returns were used to service our national debt. Which means that all of it goes to the Federal Reserve Bank, which is a privately owned cartel of bankers.

But go ahead and defend our paying the bankers income tax, even after the bailout. It is your right under the First Amendment, and that one is legal.

reply to post by Kali74


Do you understand how they get that "negative tax" rate?

I'm just curious how much you are trying to pick up as you go along...and how much you knew before you started this thread.

reply to post by OutKast Searcher


Does it result in checks written to the sum of 4.7 billion dollars over the last 3 years issued by the US Treasury? Yes. Okay then. I learned about the negative tax rate writing a different thread one you said:

You had to go ruin a good post with that one last line....shame. This isn't OWS's "one cause"...it is only one of their many causes. If this was all OWS was about, sure...I'd jump on board. But when I support OWS, then I also support the other idiotic ideas they have...so sorry...this isn't their "one cause"...but nice try.

...because at the end of my OP I said Occupy Everything.

The big companies have influence over legislation.

The majority of citizens do not.

Maybe that's why most legislation has a negative impact on the majority of individuals, regardless of how much somebody pays in taxes (any kind).

That's one reason the individual voter does not get to vote on legislation.

Can you imagine the chaos that would be if everybody could actually vote on issues?

reply to post by Ittabena

Actually, the Federal Income Tax is based on the 16th Amendment which was never ratified.

But it was...

Therefore if it was not ratified by the correct amount of States (3/4) it is not an Amendment,

Occupy a history book

They have a name for tax deniers, they are eventually called defendants

reply to post by Kali74


What happens when you over pay your taxes...you get it returned...correct? This isn't the government PAYING you money...it is the government giving you the money back that you over paid.

Now, most people take that money in the form of a check. Some people/corporations who have to pay estimated taxes carry that overpayment over to the next year so it reduces next years estimates that they owe. And some corporations choose to take that overpayment and apply it to a previous years taxes. When they do this, a lot of the time the overpayment is more than what their liability was for that year...so for that year they have a "negative tax rate"...but the government still didn't "pay" them any money. They just moved their own money around.

Now something else I learned while looking into things on this thread is that corporations many times over pay in taxes because there are deductions that they claim that they think the government will reject...and if the government doesn't reject those deductions...they again have an overpayment. In this situation, for whatever reason, some corporations decided to take the overpayment from the previous year and apply it to the current year which reduces their liability and creates an even larger over payment...which they apply to a previous year to reduce that years tax rate. It is a continual movement of money...but it is all the corporations money....the government is NEVER paying the corporation more than they have paid in...it only looks like that on paper because they can carry back their overpayments to previous years.

It's complicated...and to oversimplify it by saying "they had a negative tax rate over the period of 4 years and that means the government paid them money" is just untrue. Many corporations had HUGE overpayments between 2008-2010 because of the collapse in the economy. Even little ol' me had a HUGE overpayment in 2009..because I (and every one else who is self-employed or a corporation) has to pay estimates that at least covers the previous years liability so you don't get penalties. So even though I was making less than half of the income I made the previous year, I still had to pay a ton more in taxes. In my case...I actually DID get paid extra money by the government because the overpayment and all the tax credits pushed me down below where I owed any taxes at all...and some of the tax credits (like child tax credit) is a refundable tax credit.


You are oversimplifying things to make it look like the government is PAYING these corporations money...and that is just untrue.