Quote:
Originally Posted by Cowperson
Well, a good many people, including myself, pay tax AND contribute time and funds back into the community already.
You would not find a single corporation of this size - including multi-nationals and including Bank of America - that does not already "donate to what I support in my community, schools, arts, etc, etc."
Bank of America gave out $200 million in philanthropic cash donations in 2010, the second largest donor in America, and that would be only only one aspect of its charitable giving programs.
General Electric contributed more than $250 million in philanthropic value - including cash - to charitable activities on a worldwide basis in 2010.
You could pick any company in this class and I could probably demonstrate within five minutes that they have these kinds of programs, which would include paid time off for employees to donate skills to the community as well. This is a normal business activity.
And they pay taxes when they are legally obliged to do it.
Costco, by the way, is what we would call a "recession-proof" business with fairly stable earnings in both good times and bad times, meaning they are more likely than most to generate a tax bill through all years. As I said before, its not unusual, within the laws of the land, for corporations with cyclical earnings to have a zero tax bill one year and larger ones in subsequent years. Like any individual, they should not be paying more tax than they are legally obligated to do.
Minimum tax laws are fine if you want to go that way . . . . . but banging on the doors of BAC isn't going to get it done. It's a symbolic waste of time. Its an argument about law, even the moral aspect.
Most would already agree USA tax law needs a susbstantial overhaul on both the personal and corporate level and, if they really wanted to help themselves, they'd introduce the equivalent of ultimate fairness, a GST tax.
Again, the place to be taking this argument is the campaign trails, running Occupy candidates, arguing in legislatures and at the White House where you can effect change.
Cowperson
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I understand your point perfectly. However, a company (or "evil corporation" as Valo likes to call them) this size must return 30% back as Tax, not "Value". A toilet seat can have a value of 1000.00 as long as one agrees.
And it's what most companies "get away with". Not what is legally achieved. Frankly, if these companies are not responsibly paying income tax at 30% then they should be heavily fined and or embargoed (If a company continues it's shady business). Operating a company with the people means supporting the people as well. It's a symbiotic not a parasitic relationship that is required.
I don't disagree at all with your comments that the laws have to change or revert to what they were previously. Capitol Hill is the final goal, but the financial sector is currently in control. Over the last decade (perhaps longer) the financial lobbyists have been pulling for de-regulation. These parasitic actions must be dealt with firmly, and with a finality that will keep other companies from cheating the people.