America's Top Ten Corporate Tax Avoiders

Since the following subject should really be a separate thread, I am starting a new one. I never had this information until I discovered it on another chat board. I don't think a lot of other average working Americans know about it either, especially if they watch Fox news. Here is the link and please read it when you have the time.

http://www.sanders.senate.gov/top-10...e-tax-avoiders

But aren't you one of Hildebeest's Kool Aid drinking minions who believes that Hildebeest can do no wrong ... like accept millions of dollars in donations from the companies you disparaging?

1. General Electric: According to data from the nonpartisan group Citizens for Tax Justice (CTJ), GE posted $33.9 billion in U.S. profits, yet somehow got $2.9 billion in refunds in that same time period. According to the book Clinton Cash, then-Secretary of State Clinton lobbied the Algerian government for a GE power plant contract. After Algeria awarded the contract to GE, Jeffrey Immelt — CEO of GE — gave a donation to the Clinton Foundation. Sanders also pointed out that while Immelt sat on the board of the New York Federal Reserve, the Fed gave GE $16 billion in financial assistance.

2. Boeing made over $20 billion in profits between 2008 and 2012 and paying an overall income tax rate of negative one percent during those years. Clinton Cash author Peter Schweizer noted that after ildebeest lobbied the Russian government to enter into a $3.7 billion contract to buy Boeing’s aircraft, the aerospace company gave the Clinton Foundation a hefty donation of $900,000.

3. Verizon has given between $118,000 and $300,000 to the Clinton Foundation in recent years

4. Bank of America, per a recent groundbreaking report for The Intercept, Jilani reported that Bank of America paid Hildebeest $225,000 in speaking fees after her tenure as Secretary of State.

5. Citigroup has contributed some $891,501 to Hildebeest’s 2016 presidential campaign.

6. Pfizer executives gave nearly $40,000 to Hildebeest’s presidential campaign between April and September 2015. And Pfizer itself has given between $1 million and $5 million to the Clinton Foundation, according to donor records obtained by the Washington Times.

7. FedEx has given anywhere between $100,000 and $250,000 to the Clinton Foundation. The company was also one of four corporations to bundle a $2.5 million donation to Hildebeest’s new diplomacy center (Boeing was another).

8. Honeywell gave $50,000 to the Clinton Foundation while Hildebeest was Secretary of State which seemed to help facilitate its export operations.

9. Merck, per the Center for Responsive Politics, donated between $250,000 and $500,000 to the Clinton Foundation after becoming a member of the Clinton Global Initiative in 2006. It also spent millions on lobbying the U.S. State Department during Hildebeest’s tenure as Secretary of State.

10. Corning, while Hildebeest headed up the State Department, lobbied heavily for multiple policies on which it stood to reap financial gains, including the Trans-Pacific Partnership. Hildebeest, in turn, lobbied China to lower tariffs on the type of goods manufactured by Corning. During this period, Corning donated between $100,000 and $250,000 to the Clinton Foundation, paid Hildebeest $225,000 in speaking fees after she announced her presidential campaign and contributed an additional $492,750 to Hildebeest’s 2016 presidential campaign.

http://usuncut.com/politics/each-of-...llary-clinton/

I agree with you on this one MilfDebbie. Those fuckers should pay something in tax...

I guess the Clintons are farther down on the list .... or is there a charity list.

Foundations are a license to steal. Uniquely a creature of the income tax. Why? Because the Ford's, the Carnegie's, the Rockefeller's and their ilk own more Members of Congress than you do.

......own more Members of Congress than you do. Originally Posted by CuteOldGuy

I don't want to "own" anyone .... "rent," but not own!

When you weren't "retired" Sassy, did you claim every penny you earned as a provider on your return?

We all know who SillySue supports...

I don't want to "own" anyone .... "rent," but not own! Originally Posted by LexusLover

I'll anxiously await the first review, LLephantMan.

There was a candidate that had the answer to this so called issue.

Everybody tries to pay as little as possible in tax. Did they break the law? If not shut the fuck up. Until the feds can spend our money in a responsible way then don't come bitching about how others should pay more tax. I'll bet you didn't pay income tax on all of your hooker money. I'll also bet that you took every damn deductions available to you as you should but to be whining when others do the same thing is the typical liberal hypocrisy in all it's glory.

Since the following subject should really be a separate thread, I am starting a new one. I never had this information until I discovered it on another chat board. I don't think a lot of other average working Americans know about it either, especially if they watch Fox news. Here is the link and please read it when you have the time.

http://www.sanders.senate.gov/top-10...e-tax-avoiders Originally Posted by SassySue

Here's something you and Bernie had better understand, corporations don't pay taxes. They pass them along to the consumer, that's us. So if a corporation is avoiding taxes then we're avoiding taxes. At least at the beginning. The tax monster will catch up with us later in some other way.

Here's something you and Bernie had better understand, corporations don't pay taxes. They pass them along to the consumer, that's us. So if a corporation is avoiding taxes then we're avoiding taxes. At least at the beginning. The tax monster will catch up with us later in some other way. Originally Posted by JD Barleycorn

Your post still evades the fact that they pay no income taxes on their enormous profits and even get a billions of dollars in refunds from the IRS. Based on the fact that corporations are "not people". Maybe not in the legal sense of the word, but that is b******* and everyone knows it. That's how these huge multi-national corporations have gotten away with it so far. I think these practices should be against the law. I didn't realize about all the Clinton donations either. I do like Bernie Sanders as well. One way or another, I will vote democrat. If Bernie wins, then him. If Clinton wins, then her. Trump is a joke!

Your post still evades the fact that they pay no income taxes on their enormous profits and even get a billions of dollars in refunds from the IRS. Based on the fact that corporations are "not people". Maybe not in the legal sense of the word, but that is b******* and everyone knows it. That's how these huge multi-national corporations have gotten away with it so far. I think these practices should be against the law. I didn't realize about all the Clinton donations either. I do like Bernie Sanders as well. One way or another, I will vote democrat. If Bernie wins, then him. If Clinton wins, then her. Trump is a joke! Originally Posted by SassySue

Bablin Bernie = communist, shrillary = liar. But a lib like YOU has no problem with either one, so long as you get " yours " , right ?

Your post still evades the fact that they pay no income taxes on their enormous profits and even get a billions of dollars in refunds from the IRS. Based on the fact that corporations are "not people". Maybe not in the legal sense of the word, but that is b******* and everyone knows it. That's how these huge multi-national corporations have gotten away with it so far. I think these practices should be against the law. I didn't realize about all the Clinton donations either. I do like Bernie Sanders as well. One way or another, I will vote democrat. If Bernie wins, then him. If Clinton wins, then her. Trump is a joke! Originally Posted by SassySue

Let me try to explain it to you in small words a socialist-government type can understand;

I'm going to start a business because I discovered a niche and have an idea on how to fill it. I go to the bank, credit union, rich father-in-law, or a loan shark and borrow some money. How much? Does it matter because I'm taking the risk especially with the loan shark and wife's father. She I borrow 100,000 dollars since you insist. Being smart, I go to the local politicians and present my idea. I'm telling them honestly that I will start with 10 employees and expect to hire another 50 within 3 years. I want a tax abatement from the city. That means I pay reduced or no taxes for my company. So I incorporate my company to give it legal standing and to protect my personal assets. I get the abatement for five years with zero corporate tax liability. My employees still pay their taxes based on their income and I pay myself out of the corporate holdings and I pay taxes on that.

My research says that the sweet spot for my product's price is $30. That is where I sell the most. The first year I sell 100,000 units for a gross of $3,000,000 from which I pay my employees an average of $45,000 a year ($450,000), I pay myself $100,000, my utilities run about $75,000, my mortgage (that's the loan) is about $150,000, my insurance (on the company) is about $75,000 and the insurance for my employees is about $100,000 (unemployment, health, and accident). My raw material costs are about $500,000 and production costs are about $100,000. Tranportation costs about $50,000. Marketing is another $50,000. This all comes to about half of what I grossed this year. I keep my word and hire another 10 employees, give bonues to the hot workers, and promote from within managers for production, HR, and marketing. All in all, my corporation ends up with about $100,000 pure profit. No corporate tax either.

So my next year begins;
Payroll: $900,000 + 2% pay increase ($9,000)
Managers: 3 X $60,000 = $180,000
Mortgage: $150,000
Myself: $100,000 No pay increase for me.
Insurance: Company ($80,000, a 6% increase), employees ($250,000 thanks Obamacare)
Raw material: $1,000,000
Production: $200,000
Transportation and marketing: $190,000
Remember that $100,000 of profit? I bought a converting machine for $80,000 instead of leasing.
I buy a company truck for $30,000.
Wear and tear on production site $100,000
Total for year two: Costs; $3,609,000
Happily profits go up by selling 150,000 units which increases raw material, production costs, and transportation. $30 X 150,000 =$4,500,000
Profit: (Remember this has been a good year) $891,000

Year three: The earlier $100,000 profit was spent on the converting machine and the truck leaving my $10,000 in the hole.
I hire 10 more employees for a total of 30.
Payroll: $46,818 X 30 employees = $1,404, 540 + $15,000 in bonuses
Managers: $185,400 (3% increase) + $6,000 in bonuses
Mortgage: $150,000
Myself: $120,000
Insurance: (company) $90,000, (employees) $450,000
Raw material: $1,500,000
Production: $300,000
Transportation and Marketing: $250,000
Purchase another converting machine for a different operation: $100,000
Legal fees: someone got hurt and I require a lawyer, $75,000
OSHA fine: totally accidental injury with no one to blame but still, $50,000
Maintenance: $120,000
Bought my own delivery trucks for local deliverys: 2 trucks = $90,000
Total expenses: $4,905,000
Sales are only up 20% this year. 30 units X 180,000 = $5,400,000
Total profit: $495,000....how did that happen? I've increased my production, increased my employees but my profit went down?

Year four: Hired 10 more employees as I promised though I don't need another 10.
Doing some of my own deliverys reducing the costs of transportation but I needed two drivers with a CDL. I have some raw material stockpiled since I didn't use it last year but I had to store it off site for storage costs.
Payroll: $47,750 ( 2% increase) X 40 employees = $1,910,500 + $20,000 in bonuses
Managers and office workers: Hired another five workers in graphic design, packaging, and another sales rep. (including the cost of an accountant and lawyer on retainer): $518,000 + bonuses of $8,000
Mortgage: $150,000
Myself: $140,000
Insurance: (company) $150,000, (employees) $600,000
Raw material: $150,000 (with $200,000 left from last year)
Storage: $25,000
Production: $210,000 (have two machines of my own)
Transportation and Marketing: $230,000
Maintenance of building, machines, and trucks: $300,000
Total expenses: $4,411,500
Economy is hurting. Sales are down by 10%. Gross profit: $4,860,000
Profit: $450,000

Because of the promise made to the city I hire 10 employees though my requirements haven't changed from last year.
Payroll: $2,387,500 no increase this year, bonuses, $20,000
Managers: $518,000 plus bonuses of $10,000
Mortgage: $150,000
Myself: $140,000
Insurance: (company) $180,000, (employees) $780,000
Raw material: $120,000
Storage: $30,000
Production: $220,000
Transportation and Marketing: $240,000
Maintenance and utilies: $350,000
Started a 401K fund with 4% matching to keep good employees: $120,000
Total expense: $5,534,500
Sales are back up 20%, a boom year, $5,832,000
Profit: $297,500

At this point in time the company has about $2 million in cash assets. Knowing that taxes are starting next year (libs are static and cons are dynamic) I restructure my mortgage by drawing $750,000 from the money to pay off the mortgage. No money owed to a third party but losing a tax advantage over time. Total assets: $1.25 million. I give myself a one time bonuses for working 18-20 hours a day for the past five years. $250,000 which leaves $1,000,000 for any unexpected eventuality which the government won't pay for, nor will the employees. If the building catches fire they still expect to get their paycheck even when the equipment is down.

Year six:
The projected taxes are 23% on the profit for the years after deducting salaries, maintenance, upkeep, and other expenses. Of course the real tax bite is based on the paychecks on the employees which is about $3,000,000 at 15% or about $450,000. The corporate tax will eat about $80,000 a year. The total tax (this is very simplified) is about $530,000 relying on this one company.

There is still a good demand for this product so the price will be increased (for the consumers) about 50 cents to $30.50 a unit. This increase, passed on to the costumer, pays for the corporate taxes imposed on the company.