Drudge Retort: The Other Side of the News
Monday, February 18, 2013

Though it earned $1.1 billion in U.S. corporate profits last year, Facebook paid no net corporate income taxes in the U.S. last year, according to a new report from Citizens for Tax Justice. Instead, Facebook will rake in $429 million in net tax refunds for the year, the report said, citing Facebook's recent annual financial report. The company earned $1.1 billion in U.S. corporate profits last year.

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Really IRS is going after mom and pop business who are barley gettin by and yet this is ok.

#1 | Posted by zack991 at 2013-02-18 09:22 AM | Reply | Flag:

You cannot get a refund if you do not pay anything in.

This is a lot of outrage being made out of nothing.

#4 | Posted by 726 at 2013-02-18 09:42 AM | Reply | Flag:

mainly by taking advantage of the tax deductibility of executive stock options, linked to its initial public offering last year, the report said. Thanks to this one tax break, Facebook will save a total of $3.2 billion in taxes, according to the report.

#5 | Posted by eberly at 2013-02-18 09:46 AM | Reply | Flag:

Now who is it in Congress who refuses to even discuss closing loopholes like this? Hmmmmm?

#6 | Posted by danni at 2013-02-18 09:54 AM | Reply | Flag:

"Between 2008 and 2011, 26 major corporations were able to pay no federal corporate income tax, despite making a combined $205 billion in profits. According to a new report from Citizens for Tax Justice, Facebook joined that illustrious club last year, receiving $429 million in tax rebates despite making more than $1 billion in profits"
thinkprogress.org

#7 | Posted by KBM at 2013-02-18 11:18 AM | Reply | Flag:

It is odd that the company can deduct the sell price as a compensation expense and not the at option price.

#8 | Posted by AndreaMackris at 2013-02-18 11:32 AM | Reply | Flag:

Yeah, Andrea.

Here is a little history as to why this is so significant today....

www.businessweek.com

Companies at the time were allowed to deduct all compensation to top executives. Clinton wanted to permit companies to write off amounts over $1 million only if executives hit specified performance goals.

Now, 13 years after Clinton's plan became law, the results are clear: It didn't work. Over the law's first decade, average compensation for chief executives at companies in Standard & Poor's 500-stock index soared from $3.7 million to $9.1 million, according to a 2005 Harvard Law School study. The law contains so many obvious loopholes, says Crystal, that "in 10 minutes even Forrest Gump could think up five ways around it."

#9 | Posted by eberly at 2013-02-18 12:03 PM | Reply | Flag:

Another one of Obama's buddies who doesn't pay any taxes. Thank your master democrats.

#10 | Posted by manuesstonedar at 2013-02-18 12:10 PM | Reply | Flag:

#10

there are really 2 levels as to why leftists are all "yawn" on this.

1. It's Facebook....new, young, Zuckerberg is probably a liberal
2. Clinton wrote the law that allows Facebook, and many other corps, to remove their tax liability.

Danni still tried to pin it on the GOP though.

personally? This is not a party problem....it's merely a tax code problem, and neither party will solve it.

#11 | Posted by eberly at 2013-02-18 12:19 PM | Reply | Flag:

At least the Democrats are willing to discuss closing loop holes and raising revenue, the GOP flatly refuses to even discuss it. They actually said that closing loop holes is the same thing as a tax increase and they oppose all tax increases all the time no matter how dire the emergency.

#12 | Posted by danni at 2013-02-18 12:23 PM | Reply | Flag:

"At least...."

stopped reading there. I could type a million posts starting with "at least".

it's meaningless rubbish and nothing but excuse making for a party.

#13 | Posted by eberly at 2013-02-18 12:28 PM | Reply | Flag:

"it's meaningless rubbish and nothing but excuse making for a party."

It wasn't meaningless to those earning $400K just recently and ongoing.

#14 | Posted by danni at 2013-02-18 12:34 PM | Reply | Flag:

Facebook produces nothing and pays not taxes. And the service it provides actually makes people less productive. Poster child for the modern American business...

#15 | Posted by Sully at 2013-02-18 12:39 PM | Reply | Flag:

Thank your master democrats.

So why hasn't the self righteous GOP done away with that evil loophole?

They control the House Ways and Means Committee after all.

#16 | Posted by 726 at 2013-02-18 12:40 PM | Reply | Flag:

This surely makes Obama's droning on taxes seem outright hypocritical.

#18 | Posted by HeuristicGratis at 2013-02-18 12:51 PM | Reply | Flag:

Outrageous and typical of our hopelessly corrupt system of Government. You need at least $100,000 spare change to get a Congressman's attention.

#19 | Posted by nutcase at 2013-02-18 12:54 PM | Reply | Flag:

And people worry about public welfare when this and other kinds of corporate welfare is so flagrantly abused.

#20 | Posted by Corky at 2013-02-18 01:04 PM | Reply | Flag:

Social Security, Unemployment, Workers Compensation, are all fully funded insurance programs. PAID FOR AND EARNED SOMETIMES IN BLOOD.

Welfare, subsidized housing etc is 2% of the population, providing people food and housing while Bankers game the economy.

So welfare costs US taxpayers about $500 billion per year. Wall Street has stolen at least a $16 trillion bailout from taxpayers and probably as much as $27 trillion. This is the tip of an iceberg compared to the derivatives market, another rigged marketplace characterized as an "accident" by life long Rethug Geithner, turned "Independent" for Obama. Then there's the Military Industrial Complex which sucks $1.2 trillion a year, so that it can murder people.

Jock is a fool who failed arithmetic or a liar.

#26 | Posted by nutcase at 2013-02-18 01:32 PM | Reply | Flag:

- if we knew white people got it, that we would change our minds?

That's exactly what happened many years ago when, "black Welfare Queens driving Cadillacs" was the Republican meme.

Then when it turned out that most welfare recipients were white working women with children, the smarter ones st_u.

But I see a lot of people these days have re-upped their John Birch Society memberships.

#27 | Posted by Corky at 2013-02-18 01:36 PM | Reply | Flag:

"That's retarded. Nobody believes that crap."

almost nobody....LOL

"Everyone in America gets welfare, from the military-industrial complex to the greedy middle class homeowner that wants mortgage interest deductions and child credits to finance his or her chosen lifestyle."

I have taken advantage of mortgage interest deduction..now it's just the property taxes I deduct. The child credits? thanks for that, although I don't get to take all of it due to increased income.

#28 | Posted by eberly at 2013-02-18 01:37 PM | Reply | Flag:

"I have taken advantage of mortgage interest deduction..now it's just the property taxes I deduct. The child credits? thanks for that, "

It's ok, Eberly, as long as one admits to being a welfare queen, unlike most middle-class Americans who think they are entitled to subsidies like the mortgage-interest deduction and child tax credits.

#30 | Posted by nullifidian at 2013-02-18 01:42 PM | Reply | Flag:

Our welfare programs have become a 'patronage' program for votes...!!!

#31 | Posted by drsoul at 2013-02-18 01:45 PM | Reply | Flag:

"The conservatives believe, rightly so, that generous welfare encourages bad choices in life -"

So you want to get rid of the home mortage interest deduction too? Good for you. This deduction is partly responsible for an unsustainable suburban infrastructure.

#32 | Posted by nullifidian at 2013-02-18 01:48 PM | Reply | Flag:

"This deduction is partly responsible for an unsustainable suburban infrastructure."

again, guilty. gotta suburban parked in the garage too.

#33 | Posted by eberly at 2013-02-18 01:51 PM | Reply | Flag:

Welfare, subsidized housing etc is 2% of the population, providing people food and housing while Bankers game the economy.

We have 15% of the population on foodstamps alone. Feel free to join us in reality at some point and we can discuss.

So welfare costs US taxpayers about $500 billion per year.

Closer to a $1T when you include foodstamps and medicaid. If you wanted a true accounting, you will need to include the other social costs where we indirectly subsidize - such as much higher than needed car insurance and medical insurance, which is to cover the 'uninsured' - which is code for poor people.

But, just to show you how these numbers play out, let's use $500B/year.
At $500B/year, we get the following based on % of HH receiving aid (since Corky believes it is only 4% and Nutcase thinks it is 2%) - my point in the chart is that we have completely lost touch with reality on how big of a number $500B is if all that money only goes to a small % of the population:

% of Households: Welfare $'s per household
2% of Households: $210k/household
4% of Households: $110k/household
6% of Households: $70K/household
8% of Households: $52K/household
10% of Households: $35K/household

So, let's use the number of only 8% of households receive welfare - well, than the average welfare payments for these households is equal to the US household income average of $52K - clearly, the number receiving welfare benefits has to be WAY, WAY higher than 8%.

#34 | Posted by Jacque_Strap at 2013-02-18 01:52 PM | Reply | Flag:

- This is the 'noble poor' ideal that Corky tries to put forth

Most people on traditional public welfare work, and most don't stay on very long.

Your, "Corporations are people, too" friend's however, have paid for the right to write tax law favorable to themselves, yet we rarely hear Republicans complain about them.

#35 | Posted by Corky at 2013-02-18 01:53 PM | Reply | Flag:

So you want to get rid of the home mortage interest deduction too? Good for you. This deduction is partly responsible for an unsustainable suburban infrastructure.

#32 | POSTED BY NULLIFIDIAN

Great - go ahead with that if it means I cut welfare payments to people that don't work. You do realize that we will raise your rent when that occurs, right? At the end of the day, everyone will pay more (given we would get rid of housing subsidies) so that seems fair to me.

#36 | Posted by Jacque_Strap at 2013-02-18 01:55 PM | Reply | Flag:

The thread is about corporate welfare, in this case in the form of tax laws they have purchased... just so people don't get confused by all the public welfare DEFLECTIONS.

#37 | Posted by Corky at 2013-02-18 01:56 PM | Reply | Flag:

#37

funny, considering you deflect with corporate welfare deflections every single time any issue realted to public welfare is ever discussed.

#38 | Posted by eberly at 2013-02-18 01:57 PM | Reply | Flag:

"Great - go ahead with that if it means I cut welfare payments to people that don't work"

So is that a yes or a no? Do you want to eliminate welfare for the middle class or not?

#40 | Posted by nullifidian at 2013-02-18 01:59 PM | Reply | Flag:

So is that a yes or a no? Do you want to eliminate welfare for the middle class or not?

#40 | POSTED BY NULLIFIDIAN

I am fine with that as long as we cut the $500B (using Nutcase's number above) in other welfare too. In reality, by chopping mortgage interest rate deductions, home prices would come down so people would borrow less from banks. Rents would go up across the board as well. I really don't benefit from it anyways as I always pay AMT. I would be happy to have more people join me in being stuck paying higher taxes. I would not want to be working in residential construction if you pass this however.

#42 | Posted by Jacque_Strap at 2013-02-18 02:03 PM | Reply | Flag:

"I am fine with that as long as we cut the $500B "

Nope. That's not an answer. Let me rephrase it: Would you vote for a bill to eliminate the home mortgage interest deduction? It's a yes or no question. Same question for child tax credits. Yes or no?

#43 | Posted by nullifidian at 2013-02-18 02:04 PM | Reply | Flag:

-drive by a housing project.

Still deflecting to public welfare rather then the thread topic. Does Citycorp pay you?

At least we know how you get your info.

The Truth about Welfare

"Most Americans not only drastically overestimate the proportion of welfare recipients who are black, they also tend to believe that welfare makes up a huge proportion of the federal budget, when in fact it accounts for less than 1 percent of federal spending."

prospect.org

-1.) Paying less in taxes = Welfare

If you don't understand that you are subsiding tax cuts for the wealthy and corporations, then, well... that response would be moderated.

#44 | Posted by Corky at 2013-02-18 02:07 PM | Reply | Flag:

Nope. That's not an answer. Let me rephrase it: Would you vote for a bill to eliminate the home mortgage interest deduction? It's a yes or no question. Same question for child tax credits. Yes or no?

#43 | POSTED BY NULLIFIDIAN

I would vote for it assuming we get rid of welfare across the board. I would not feel right asking the middle and upper classes to carry more burden if I am not asking poor people to do the same. As for child tax credits - this should never have started in the first place. We should actually charge people with children more to cover all the expenses society must bear to raise the child.

#45 | Posted by Jacque_Strap at 2013-02-18 02:08 PM | Reply | Flag:

If you don't understand that you are subsiding tax cuts for the wealthy and corporations, then, well... that response would be moderated.

#44 | POSTED BY CORKY

Corky - are food stamps, housing assistance, medicaid, and free cell phones welfare? Clearly you don't think so as you keep posting links quote 1% of the budget and only 4% receive welfare. I have a hard time reconciling your definition of welfare then as you do count tax deductions. How a food stamp is not welfare but a tax deduction is only valid in the warped liberal brain. And you are rightly called out on it.

#46 | Posted by Jacque_Strap at 2013-02-18 02:11 PM | Reply | Flag:

"I would vote for it assuming..."

It's a yes or no question.

You are a perfect example of why nothing can be accomplished in Washington. "I hate program A but I'll keep voting for it until you cut program B."

#47 | Posted by nullifidian at 2013-02-18 02:13 PM | Reply | Flag:

Corporate Welfare Vs. Social Welfare: Which Benefits The Economy More?

"The word "welfare" is often synonymous with individuals on the receiving end of government-sponsored programs -- a keyword when debating fiscal responsibility and the role of government in the lives of Americans.

Rarely is it used to describe tax incentives used to lure corporations. Yet it's that type of welfare that takes up a larger piece of the puzzle, with more than $90 billion spent on corporate welfare subsidies in 2007.

That's compared to $59 billion spent on social welfare programs."

www.mintpress.net

#48 | Posted by Corky at 2013-02-18 02:17 PM | Reply | Flag:

Ending corporate welfare

For more than 30 years, Ralph Nader's Public Citizen, along with many environmental and consumer advocate groups, have publicized and challenged the abuses of corporate welfare.

Friends of the Earth each year recommends ways to cut wasteful subsidies in its Green Scissors Report. In the past five years, that coalition's efforts have led to elimination of $24 billion in corporate welfare.

Community groups, like Kensington Welfare Rights Union in Philadelphia, Pa., expose the hypocrisy of public officials who promote the welfare of corporations, which are often big campaign donors, while denying the economic rights of poor and working people.

Working together, people can take government back from corporations and ensure that government fulfills its constitutional duty to promote the general welfare.

"Let us start building!" So they committed themselves to the common good". (Nehemiah 2:18).

gbgm-umc.org

#49 | Posted by Corky at 2013-02-18 02:19 PM | Reply | Flag:

You are a perfect example of why nothing can be accomplished in Washington. "I hate program A but I'll keep voting for it until you cut program B."

#47 | POSTED BY NULLIFIDIAN

Nulli - I, along with most upper middle class people realize the getting rid of the mortgage interest deduction in isolation does little, if anything, to change the path to bankruptcy that the country is on. It actually is counter productive because it removes a future bargaining chip. As long as your side is pounding the table to stop any cuts to welfare programs (even Obama will sell out SS for welfare payments to continue), you will not see the other side of the argument willing to give up anything in exchange for a future promise of reductions.

#50 | Posted by Jacque_Strap at 2013-02-18 02:21 PM | Reply | Flag:

"Welfare Spending Nearly Half What U.S. Forked Out In Corporate Subsidies In 2006

Welfare queens may actually look more like giant corporations.

The government spent about $59 billion to pay for traditional social welfare programs like food stamps and housing assistance in 2006, while Uncle Sam doled out $92 billion in assistance to corporations during the same year..."

www.huffingtonpost.com

#51 | Posted by Corky at 2013-02-18 02:21 PM | Reply | Flag:

"So is that a yes or a no? Do you want to eliminate welfare for the middle class or not?"

no.

#52 | Posted by eberly at 2013-02-18 02:21 PM | Reply | Flag:

The government spent about $59 billion to pay for traditional social welfare programs like food stamps and housing assistance in 2006
#51 | POSTED BY CORKY

hahahahahahahha....I have not other response than that when you link to such ridiculous numbers. The number paid in medicaid alone is way higher than the corporate 'subsidies' we are supposed to be outraged about. How about you join us in reality at some point - oh, and at least updating to 2011 numbers would be appreciated.

#54 | Posted by Jacque_Strap at 2013-02-18 02:26 PM | Reply | Flag:

What's hilarious is how much we spend on corporate welfare, including tax cuts, as in the thread topic, which is more than we spend for what is traditionally defined as public welfare... and all we get are DEFLECTIONS about public welfare.

Talk about well trained.

#55 | Posted by Corky at 2013-02-18 02:29 PM | Reply | Flag:

THE FINANCIAL PAGE

CORPORATE WELFARE QUEENS

Corporate welfare isn't necessarily a bad thing. Some of these giveaways arguably do a lot of good. But companies that benefit from these policies are just as dependent on the government as the guy who gets the earned-income tax credit.

And, when Romney concentrates his fire on the latter rather than on the former, it makes you wonder if his problem isn't with government assistance per se, but only with government assistance to poor and working people.

Romney may say that he wants small government, but what he's pushing for is a government that's small when it comes to helping people and big when it comes to helping business.

Read more: www.newyorker.com

Romney and his supporters

#56 | Posted by Corky at 2013-02-18 02:32 PM | Reply | Flag:

"Talk about well trained."

perhaps, but all of them can calculate 4% better than you.

since we see no more vernon on this place, it's almost as though you want to take his place in that we can now start referencing your calculator when referencing fuzzy math.

#57 | Posted by eberly at 2013-02-18 02:32 PM | Reply | Flag:

"Nulli - I, along with most upper middle class people"

I'll take that as a "no". Thanks for playing, hypocrite.

#58 | Posted by nullifidian at 2013-02-18 02:35 PM | Reply | Flag:

The Big Page with colorful charts 1975 to 2009

Government Spends More on Corporate Welfare Subsidies than Social Welfare Programs

thinkbynumbers.org

#59 | Posted by Corky at 2013-02-18 02:36 PM | Reply | Flag:

Statistic Verification

Source: US Department of Health and Human Services, U.S. Department of Commerce, CATO Institute

Date Verified: 10.15.2012

Welfare is the organized public or private social services for the assistance of disadvantaged groups. Aid could include general Welfare payments, health care through Medicaid, food stamps, special payments for pregnant women and young mothers, and federal and state housing benefits.

www.statisticbrain.com

#60 | Posted by Corky at 2013-02-18 02:37 PM | Reply | Flag:

#81 That's a Republican Committee that REDEFINED what has been traditionally used for public welfare numbers.

Which is why, one supposes you did not include the link.

THURSDAY, OCT 18, 2012 05:52 PM EDT

New lie: The government spends more on welfare than everything else!

Senate Republicans redefine "welfare" to make it sound very expensive

So we've learned that when you count everything -- especially Medicaid and CHIP -- as "welfare," it is easy to make it look like "welfare" is very expensive, because healthcare is very expensive. This dumb lie will live forever, and you will hear until the end of your days that "the government spends more on welfare than it does on defense."

www.salon.com

#63 | Posted by Corky at 2013-02-18 02:45 PM | Reply | Flag:

www.usgovernmentspending.com

Try adding in percentage of healthcare ......your numbers are pulled with blinders on dork

#65 | Posted by DavetheWave at 2013-02-18 02:47 PM | Reply | Flag:

We could solve all this by instituting a 10% flat tax on all personal income. No deduction, no loopholes. If you earned $1000 or $1 trillion - 10% period.

#66 | Posted by Daniel at 2013-02-18 02:47 PM | Reply | Flag:

Funny how Forbes, Business Week, CNN, ABC, The NY Times and The Business Insider among thousands more use Statistics Brains when they could be using Jock and Eberley's Count by Colors.

www.statisticbrain.com

scroll down

#68 | Posted by Corky at 2013-02-18 02:50 PM | Reply | Flag:

yes, he is.

#64 | POSTED BY EBERLY

Corky's 4% should go down in history along with BB 'antennas for self defense' nonsense. He should be ridiculed everywhere he posts this line of reasoning until he simply admits he is wrong.

#69 | Posted by Jacque_Strap at 2013-02-18 02:50 PM | Reply | Flag:

I agree, Jacque.

But since it involves a willful denying of basic math......it's worse than BB's antenna.

#70 | Posted by eberly at 2013-02-18 02:53 PM | Reply | Flag:

-Try adding in percentage of healthcare

Which is what Republicans did see #63.... to make welfare look much bigger by using healthcare, or fastest growing expense.

And made some posters look pretty silly in the process for falling for it.

Statistics Brains uses the government agency numbers and the traditional public welfare programs while Republicans have their own formula.

#71 | Posted by Corky at 2013-02-18 02:53 PM | Reply | Flag:

our fastest growing expense.

#72 | Posted by Corky at 2013-02-18 02:54 PM | Reply | Flag:

Funny how Forbes, Business Week, CNN, ABC, The NY Times and The Business Insider among thousands more use Statistics Brains
#68 | POSTED BY CORKY

Not funny at all. Per your own link above for statistic brains, welfare includes the following: "general Welfare payments, health care through Medicaid, food stamps, special payments for pregnant women and young mothers, and federal and state housing benefits."

You, because you are trying to lie with numbers (not very successfully), pick only the line item called 'general welfare payments' and use it to represent ALL WELFARE spending when even your own link says that is it only one classification of welfare payments. Lying or Stupid? Given you cut and pasted this information yourself, I am going with stupid.

#73 | Posted by Jacque_Strap at 2013-02-18 02:54 PM | Reply | Flag:

Which is what Republicans did see #63.... to make welfare look much bigger by using healthcare, or fastest growing expense.
.....
Statistics Brains uses the government agency numbers and the traditional public welfare programs while Republicans have their own formula.
#71 | POSTED BY CORKY

I find this classic as even your Statistics Brains define welfare as "general Welfare payments, health care through Medicaid, food stamps, special payments for pregnant women and young mothers, and federal and state housing benefits." - it was your own cut and paste. The only one that does not understand something here is you.

#74 | Posted by Jacque_Strap at 2013-02-18 02:58 PM | Reply | Flag:

I'm going with the numbers and definitions the US Department of Health and Human Services, U.S. Department of Commerce, CATO Institute and major corporations use.

You can use the Republican funny numbers as you like.

Perhaps if you admitted they all used those numbers, not me, then you would be on the road to recovery.

#75 | Posted by Corky at 2013-02-18 02:58 PM | Reply | Flag:

"I'm going with the numbers and definitions the US Department of Health and Human Services, U.S. Department of Commerce, CATO Institute and major corporations use."

all of those folks can do this.........

48/330 = 14.5%

you can't.

stop invoking their name or hiding behind them.

I'm quite sure they would appreciate it if you would just leave them out of this.

Statistic Brain would probably appreciate it too.

#76 | Posted by eberly at 2013-02-18 03:00 PM | Reply | Flag:

Bottom line on this is it doesn't matter which side of the aisle you are on - 98% of BOTH parties in Washington are not interested in fixing this.

Why? There are many reasons. Maybe most importantly though is where do you think the money comes from to re-elect them?

#80 | Posted by GalaxiePete at 2013-02-18 03:10 PM | Reply | Flag:

-All you have proof is that Statistic brain claims to have those news outlets of being customers

hahahaha!!

#82 | Posted by Corky at 2013-02-18 03:12 PM | Reply | Flag:

you know, I think Statistic Brain would appreciate knowing that page is incorrect and they should either stop using the 4% figure or redefine "welfare" to not include everything it currently does.

or maybe they don't think anybody would be stupid enough to be unable to figure that out.

#83 | Posted by eberly at 2013-02-18 03:14 PM | Reply | Flag:

-that particular mis-calculated stat.

Yeah, they make that kind of mistake all the time... which is why some many Fortune 500's use their stats.

#84 | Posted by Corky at 2013-02-18 03:14 PM | Reply | Flag:

Yeah, sent them a mail correcting that figure for them.

They could prolly use a good laugh.

They might even 'splain to you how they and got it directly from the

Source: US Department of Health and Human Services, U.S. Department of Commerce, CATO Institute

and how they verified it

Date Verified: 10.15.2012

#85 | Posted by Corky at 2013-02-18 03:16 PM | Reply | Flag:

No one wants to solve this problem..

Flat tax. No deductions. No loopholes. Take 10% and send it to the govt. No April 15th. Nothing. Simple. 80% of the IRS could be laid off. No audits. Nothing.

Flat tax.

It will never happen though. The poor don't want to pay a truly fair share. It would remind them they are poor.

#88 | Posted by boaz at 2013-02-18 03:36 PM | Reply | Flag:

Flat tax. No deductions. No loopholes. Take 10% and send it to the govt. No April 15th. Nothing. Simple. 80% of the IRS could be laid off. No audits. Nothing.

#88 | POSTED BY BOAZ

You would not collect enough money this way.

#89 | Posted by Jacque_Strap at 2013-02-18 03:43 PM | Reply | Flag:

The time for the flat tax has come. It would certainly solve the problem in the article. There would be no escape for companies or individuals.

We just have to get past the concept that society is responsible for someone being poor, or that society somehow owes a person a living. Compassion is what charity is for. But there isn't enough money in charities for liberals and charities don't get democratic votes.

Flat tax. One time on income like the constitution says. Then it would hold the poor accountable for their situation. They would definably pay more attention to elections and who controlled their taxes at the local level.

The govt should not be in the business of equating financial situations. One tax on all income. Period.

#90 | Posted by boaz at 2013-02-18 03:48 PM | Reply | Flag:


You would not collect enough money this way.

#89 | Posted by Jacque_Strap

I don't agree, Jacque. That is the same liberal mantra. It has to collect more money. The govt sends back billions in refund crack every year. Imagine if the govt sent nothing back. But that would piss off the poor, who would actually have skin in the game just like everyone else.

#91 | Posted by boaz at 2013-02-18 03:49 PM | Reply | Flag:

The dismantling of the IRS would probably save enough to prop up Social Security for 50 years by itself.

#92 | Posted by boaz at 2013-02-18 03:51 PM | Reply | Flag:

I don't agree, Jacque. That is the same liberal mantra. It has to collect more money. The govt sends back billions in refund crack every year. Imagine if the govt sent nothing back.
#91 | POSTED BY BOAZ

Boaz - my issue is that the government needs to pay down the debt we have amassed, not just bring us to a zero deficit. At a 10% flat tax (assuming we keep all the other payroll taxes), will raise less than even the income tax does today. Massive spending cuts are definitely required to bring balance on top of additional revenue. I think it is my moral obligation to leave the country in better shape than my generation inherited. Hard job turning back the slash and burn from the baby boomers, but we are a hard working generation.

#93 | Posted by Jacque_Strap at 2013-02-18 04:01 PM | Reply | Flag:

Massive spending cuts are definitely required to bring balance on top of additional revenue.

That would require the poor to stop receiving mass entitlements. But any suggestion like this would be seen as non compassionate.

#94 | Posted by boaz at 2013-02-18 04:20 PM | Reply | Flag:

At a 10% flat tax (assuming we keep all the other payroll taxes), will raise less than even the income tax does today.

#93 | Posted by Jacque_Strap

Cite please.
money.cnn.com

If every single working person paid the 10% flat tax no excuses and government only did what the Constitution said they had the authority to do and held balanced budget it would not be a issue for us to pay our bills PERIOD.

#95 | Posted by zack991 at 2013-02-18 04:26 PM | Reply | Flag:

The Problem With Flat-Tax Fever

"Yet none will be adopted, for at least two reasons. One is that a flat tax would do nothing to make filing tax returns any simpler. But, more important, it would greatly exacerbate longstanding growth in income inequality.

The contention that a flat tax would be simpler because it involves only a single rate is flatly wrong. The complexity of the current system has nothing to do with its multiple income brackets.

The hard step in figuring your tax bill is to compute your taxable income -- roughly, the amount you earn, less the myriad exemptions, deductions and various other offsets described in the 3.4-million-word code of the Internal Revenue Service.

You'd also have to calculate your adjusted gross income under a flat tax. But once you've completed that step under either system, you consult the tax tables to see how much you owe.

In the current system, the entries have multiple brackets and rates already built into them, so this step is no harder than it would be under the tables for a flat tax.

The much more serious concern is that a flat tax would reinforce the trends toward greater income inequality that have been seen over the last several decades.

As documented by a recent Congressional Budget Office study, the top 1 percent of income recipients in the United States earned 275 percent more in 2007 than they did in 1979, adjusted for inflation, a period when the earnings of middle-income households grew by less than 40 percent.

A flat tax would increase inequality by substantially reducing rates on the most prosperous households, while increasing them on low- and middle-income households."

www.nytimes.com

#96 | Posted by Corky at 2013-02-18 04:28 PM | Reply | Flag:

Flat Tax: How it Works and Why It's Good for U.S.

This Center for Freedom and Prosperity Foundation video featuring Dan Mitchell of the Cato Institute shows how the flat tax would benefit families and businesses, and also explains how this simple and fair system would boost economic growth and eliminate the special-interest corruption of the internal revenue code.
www.youtube.com!

#97 | Posted by zack991 at 2013-02-18 04:36 PM | Reply | Flag:

VIDEO ABOVE in 97

Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.

#98 | Posted by zack991 at 2013-02-18 04:37 PM | Reply | Flag:

This corporate ripoff has been going on for some time now. Exxon/Mobil was another one that made mega-profits and paid no US taxes historically.
Facebook is simply the latest.

But it's not like we are unaware that the corporate pendulum has swung too far.

#99 | Posted by fresno500 at 2013-02-18 04:44 PM | Reply | Flag:

That's perfectly acceptable if the company donates to Democrats.

#100 | Posted by sames1 at 2013-02-18 05:34 PM | Reply | Flag:

A flat tax would increase inequality by substantially reducing rates on the most prosperous households, while increasing them on low- and middle-income households."

So? All the more reason to make it EQUAL for everyone.

One is that a flat tax would do nothing to make filing tax returns any simpler.

What return? Under the flat tax system, YOU DONT FILE. The IRS does it for you. You lose 10% every month on income you make. What is more simple than that? You have NO MORE INTERACTION WITH THE GOVT. No need to FILE anything.

But, more important, it would greatly exacerbate longstanding growth in income inequality.

Again, so? Just because you don't make as much as your neighbor is your problem. Get another job...

#101 | Posted by boaz at 2013-02-18 05:36 PM | Reply | Flag:

101 boaz

Be careful you may make him cry with the reality of life is not fair and that using government to force other tax payers at the threat of a gun to spread the wealth around for the lazy is not only wrong but immoral.

#102 | Posted by zack991 at 2013-02-18 06:26 PM | Reply | Flag:

#102 | When you figure out that the wealth in this country has been redistributed upwards by the wealthy and the corporate writing their own laws.... and that you paid to make up the difference, well, you'll likely feel pretty stoopid.

"As documented by a recent Congressional Budget Office study, the top 1 percent of income recipients in the United States earned 275 percent more in 2007 than they did in 1979, adjusted for inflation, a period when the earnings of middle-income households grew by less than 40 percent."

#103 | Posted by Corky at 2013-02-18 06:38 PM | Reply | Flag:

the top 1 percent of income recipients in the United States earned 275 percent more in 2007 than they did in 1979

Well, DUH...they are at the top for a reason.

a period when the earnings of middle-income households grew by less than 40 percent

Again, so? When we get concerned on how much our neighbor is making and then blame that on our not making money, that is when the country is doomed. You need to stop looking at what someone else is making and start concentrating on making money yourself.

When you figure out that the wealth in this country has been redistributed

Redistributed or earned and used smartly?

#104 | Posted by boaz at 2013-02-18 06:45 PM | Reply | Flag:

-redistributed upwards by the wealthy and the corporate writing their own laws...

Ya'll never seem to want to address that part, just pretend it is an even playing field.

It isn't now, hasn't been since upper brackets were 70 to 90 percent, you know, when the country was booming.... and would not be level if there was a sudden flat tax after all the upwards distribution.

#105 | Posted by Corky at 2013-02-18 08:08 PM | Reply | Flag:

You see - this is the philosophical difference between conservatives and liberals. Liberals believe 1 of 2 things:

1.) That poor people have a right to welfare with no strings attached because there is a rich guy somewhere - this is the Nullifan/Danni take as they are borderline communists
2.) That no one chooses welfare because we all strive to be a better person and it is just circumstances beyond our control causes the need for welfare. This is the 'noble poor' ideal that Corky tries to put forth

The conservatives believe, rightly so, that generous welfare encourages bad choices in life - so, rather than a helping hand, it becomes a disincentive to work hard and make good choices creating a cycle of poverty that is difficult to break.


So who's in favor of welfare for FB, exactly?
Let me ask the question another way: Who's in favor of tax deductibility of executive stock options? Liberals or conservatives?

#106 | Posted by snoofy at 2013-02-18 09:21 PM | Reply | Flag:

You need to stop looking at what someone else is making and start concentrating on making money yourself.

What's wrong with noticing your neighbor is taking advantages of loopholes not available to you, and asking "Why?"

#107 | Posted by snoofy at 2013-02-18 09:24 PM | Reply | Flag:

>generous welfare encourages bad choices in life

Obviously you've never tried to live on welfare benefits in America. It is far from generous.

#108 | Posted by Centrist at 2013-02-19 04:55 AM | Reply | Flag:

Obviously you've never tried to live on welfare benefits in America. It is far from generous.

#108 | POSTED BY CENTRIST

It sure beats working 40 hours a week at an low pay job. It is all just a matter of perspective. Free house, free food, free electric and heating, free monthly check, no boss to yell at you, sleep till noon, plenty of project women to sleep with that don't mind that you don't have a job.... All you need to do is make some money on the side for booze and cigs and you are all set if you don't have much ambition in life.

#109 | Posted by Jacque_Strap at 2013-02-19 12:34 PM | Reply | Flag:

>generous welfare encourages bad choices in life
Obviously you've never tried to live on welfare benefits in America. It is far from generous.

#108 | POSTED BY CENTRIST AT 2013-02-19 04:55 AM | REPLY | FLAG:

Sure they have in the fantasy world Rush Limbaugh creates for them in their mind.

#110 | Posted by 726 at 2013-02-19 12:59 PM | Reply | Flag:

What's wrong with noticing your neighbor is taking advantages of loopholes not available to you

THAT is the lie, RIGHT THERE. The "loophole" is available to you as well. Just because you dont make enough money to take advantage of it, that's YOUR problem. But it is there for you.

I say get rid of the loophole. Make everyone EQUAL.

#111 | Posted by boaz at 2013-02-19 02:21 PM | Reply | Flag:

It sure beats working 40 hours a week at an low pay job. It is all just a matter of perspective. Free house, free food, free electric and heating, free monthly check, no boss to yell at you, sleep till noon, plenty of project women to sleep with that don't mind that you don't have a job.

Why do you work then? If you could have it so good otherwise.

#112 | Posted by snoofy at 2013-02-19 07:14 PM | Reply | Flag:

The "loophole" is available to you as well. Just because you dont make enough money to take advantage of it, that's YOUR problem. But it is there for you.

That's ridiculous. You say we should have equal opportunity and in the next breath you say it's okay that some opportunities cost a lot more than others.

#113 | Posted by snoofy at 2013-02-19 07:17 PM | Reply | Flag:

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