This wouldn't be happening if we had reasonable corporate tax rates. Losing tax revenue from foreign incomes offsets what we "gained" from raising rates. We need competetive corporate rates and then tax foreign companies (ie BK) at a higher rate on US income. That would cause them to want to be a US company for the tax break.
Burger King: Whadaya think?
- Thread starter 3Rfan
- Start date
Miller you need to get over trying to distort the issue, you must be a politician. I have never said BK does not pay any taxes. I said they do NOT pay taxes on every dime they make here like you claim, and they do NOT pay the top rate that people bitch about and I doubt if any big company does. I doubt if any company does, big or small. I saw a guy yesterday that said BK does NOT pay 35% they pay about 27%.
Whoa! They practicly get off scott free! Canada has a 15% corporate rate and most are much lower than the US.
Point is YOU are wrong, they do NOT pay taxes on every dime they make here nor do they pay the top rate here. You still seem to believe there are no tax loopholes for corporate America to take advantage of. That tells me all I need to know about your thinking.
Scout why are you so gripy? Didn't get any alien strange on your last trip?
Is there any correlation to the fact that you showed up when other posters left?
Is there any correlation to the fact that you showed up when other posters left?
Scout I can only use the short form when it comes tax time. That means I'm at the mercy of whatever the current tax laws say the standard deduction is. Not much way for me to reduce my taxes other than to take that standard deduction for married with no dependents to claim.
If you are doing all this to get me to say I was wrong, then I was wrong. No one including BK pays taxes on every dime of income.
The problem is, I already said that and you just keep on going back to it.
Name those "loopholes" because I don't know what they are. I know of numerous deductions and tax credits legislated by congress and signed into law by presidents but can't find any loopholes.
I'm the same as 3rfan. I often wonder what if I keep receipts on everything and what I could use as a business expense if I wanted to go to the trouble and cook the books a little - clothes, shoes, internet at home, the occasional lunch, a portion of my gas, could all be considered a business expense I'm guessing. Just too easy to use the short form and say the heck with it. Another reason to go to the flat tax. I'm sure lots of people in business for themselves are very creative with their expenses accounts and lots more of us could save money if we went to the trouble.
Sure, there are way too many ways to avoid paying taxes legally and even more if you "fudge" the numbers. No one will ever go with the flat tax or even the fair tax since both eliminate book cooking. Big money folks will always say they hurt the poor in order to stir up opposition. With all the new revenue either would generate by eliminating the deductions, rates could be dropped substantially without dropping revenue.
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