2 edits
Originally posted by WajomaEmbezzlement is a form of theft. But surely you know that:
Yeah, I heard that embezzlement is embezzlement and thieving is thieving.
Larceny includes a wrongful taking, obtaining or withholding of
another`s property, with the intent prescribed in subdivision one of
this section, committed in any of the following ways:
(a) By conduct heretofore defined or known as common law larceny by
trespassory taking, common law larceny by trick, embezzlement, or
obtaining property by false pretenses;
NY Penal Law Article 155.05(2)
EDIT: Before you go there:
Larceny generally refers to nonviolent theft.
http://legal-dictionary.thefreedictionary.com/Larceny-theft
Originally posted by ZahlanziReally? Congress is so much in the pocket of corporations that we have the highest corporate tax rates on earth.
complaining.
and that is fun in itself.
it is also easier. nothing wrong with it, but you asked how to change a bad thing for the better.
do you go through the hassle of calling your elected official every day to let him know you do not approve of his decisions done in your name? that he/she would lose your vote if he doesn't cut it out?
do you org ...[text shortened]... ce others to do the same.
if only complaining on the forums wouldn't be easier and more fun.
Originally posted by normbenignSmoke and mirrors:
Really? Congress is so much in the pocket of corporations that we have the highest corporate tax rates on earth.
Profitable corporations are supposed to pay a 35 percent federal income tax rate on their U.S. profits. But many corporations pay far less, or nothing at all, because of the many tax loopholes and special breaks they enjoy. This report documents just how successful many Fortune 500 corporations have been at using these loopholes and special breaks over the past five years.
The report looks at the profits and U.S. federal income taxes of the 288 Fortune 500 companies that have been consistently profitable in each of the five years between 2008 and 2012, excluding companies that experienced even one unprofitable year during this period. Most of these companies were included in our November 2011 report, Corporate Taxpayers and Corporate Tax Dodgers, which looked at the years 2008 through 2010. Our new report is broader, in that it includes companies, such as Facebook, that have entered the Fortune 500 since 2011, and narrower, in that it excludes some companies that were profitable during 2008 to 2010 but lost money in 2011 or 2012.
Some Key Findings:
• As a group, the 288 corporations examined paid an effective federal income tax rate of just 19.4 percent over the five-year period — far less than the statutory 35 percent tax rate.
• Twenty-six of the corporations, including Boeing, General Electric, Priceline.com and Verizon, paid no federal income tax at all over the five year period. A third of the corporations (93) paid an effective tax rate of less than ten percent over that period.
• Of those corporations in our sample with significant offshore profits, two thirds paid higher corporate tax rates to foreign governments where they operate than they paid in the U.S. on their U.S. profits.
These findings refute the prevailing view inside the Washington, D.C. Beltway that America’s corporate income tax is more burdensome than the corporate income taxes levied by other countries, and that this purported (but false) excess burden somehow makes the U.S. “uncompetitive.”
Other Findings:
• One hundred and eleven of the 288 companies (39 percent of them) paid zero or less in federal income taxes in at least one year from 2008 to 2012.
• The sectors with the lowest effective corporate tax rates over the five-year period were utilities (2.9 percent), industrial machinery (4.3 percent), telecommunications (9.8 percent), oil, gas and pipelines (14.4 percent), transportation (16.4 percent), aerospace and defense (16.7 percent) and financial (18.8 percent).
• The tax breaks claimed by these companies are highly concentrated in the hands of a few very large corporations. Just 25 companies claimed $174 billion in tax breaks over the five years between 2008 and 2012. That’s almost half the $364 billion in tax subsidies claimed by all of the 288 companies in our sample.
• Five companies — Wells Fargo, AT&T, IBM, General Electric, and Verizon — enjoyed over $77 billion in tax breaks during this five-year period.
http://www.ctj.org/corporatetaxdodgers/sorrystateofcorptaxes.php
The actual share of revenue raised by corporate taxes has plummeted:
Last year, corporate profits reached record levels – more than 12 percent of GDP. At the same
time, corporate taxes were 1.6 percent of GDP. Corporations can, and should, pay far more. At
one time, they did. Even today, they pay higher taxes in other developed countries than they
do in the U.S. If corporate tax payments equaled the same share of taxes as a percent of the
economy as they did in 1953 when Eisenhower was president, they would have paid $957 billion
last year, $683 billion more than they actually paid. If corporate tax payments as a share of the
economy reflected the same share of GDP as they did in 1973, when Richard Nixon sat in the
Oval Office, corporations would have paid $738 billion in 2013, $464 billion more than they
actually paid.
http://npa-us.org/files/thedisappearingcorptaxbase_report.pdf
Originally posted by WajomaNo they are not synonyms.
I think I've got it Norm, they're synonyms.
So as kids lurking in the neighbours orchard at night we were embezzling peaches and later when we got home and started eating them we were embezzling some more.
Embezzlement is a subset of theft; you can be a thief without being an embezzler but you cannot be an embezzler without being a thief.
Originally posted by no1marauderThose corporations which can utilize loopholes and breaks stay. Others leave, or at least put their financial branches in more friendly places. Nobody wants to be stuck with the tax bills Congress is creating with year after year of deficit spending.
Smoke and mirrors:
Profitable corporations are supposed to pay a 35 percent federal income tax rate on their U.S. profits. But many corporations pay far less, or nothing at all, because of the many tax loopholes and special breaks they enjoy. This report documents just how successful many Fortune 500 corporations have been at using these loopholes and ...[text shortened]... more than they
actually paid.
http://npa-us.org/files/thedisappearingcorptaxbase_report.pdf
Originally posted by normbenignNo they don't want to pay but they do want to profit from doing business in the US and from the protection that they receive from the US government. In short, they are moochers.
Those corporations which can utilize loopholes and breaks stay. Others leave, or at least put their financial branches in more friendly places. Nobody wants to be stuck with the tax bills Congress is creating with year after year of deficit spending.
Originally posted by no1marauderI'll give you a hint. Everyone wants a piece of the American market. It is the single largest consumer market on earth. Not everyone can afford to participate, either due to protective tariffs, the simple cost of shipping or the taxes.
No they don't want to pay but they do want to profit from doing business in the US and from the protection that they receive from the US government. In short, they are moochers.
Everyone has to evaluate all the costs.
Originally posted by normbenignPerhaps you missed this:
I'll give you a hint. Everyone wants a piece of the American market. It is the single largest consumer market on earth. Not everyone can afford to participate, either due to protective tariffs, the simple cost of shipping or the taxes.
Everyone has to evaluate all the costs.
Last year, corporate profits reached record levels – more than 12 percent of GDP.
The idea that corporations in the US are over taxed to the point that they are fleeing the country in droves is laughable.