politicial interests

[blackchipjim]

We are hearing all the bail out baloney from the forked tongued politicians every minute of every day correct. Just what is really behind these political pundits and their pushing bailout agendas. Does anyone here have a money trail back to the very people these politicians are trying to save. I think they have alot of stock invested or must have friends sitting on the board of directors of these companies going down the tubes. I don't think we will ever know why or what is the driving force behind where these politicians shove the money. I would like the judicail branch of the goverment get involved in this mess to make sure no envelopes are passed to these snakes in the grass. blackchipjim

[Opinion]

As government gets bigger and influences our lives and the economy more and more then "rent seeking" becomes more and more of a problem.

Businesses and people will spend their time and efforts mired in and seeking to influence government rules, regulations, taxes, lobbying and influence peddling instead of actually producing goods and services!

Companies will not survive because they produce superior goods or services, they will survive because of their "rent seeking" with the government!

This is not a good state of affairs if you believe capitalism is best for the economy!

The US now has the second highest coporate tax rate in the world. The CEOs of companies should not be on capital hill begging the government and letting the government decide which companies win and lose. The corporate taxes should be lowered so businesses have the assets to compete in a global market!

[cardcounter0]

The corporate taxes should be lowered so businesses have the assets to compete in a global market!

Are you purposely posting stupid stuff? Reduce Corporate Tax rates???


Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales.
The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005. (Granted some could have lost money that year.)
More than half of foreign companies and about 42 percent of U.S. companies paid no U.S. income taxes for two or more years in that period, the report said. During that time corporate sales in the United States totaled $2.5 trillion.

Year 2000:

IBM paid $191 million in taxes on its $5.7 billion in U.S. profits last year, a tax rate of 3.4%.

GM got a tax rebate of $105 million, despite $2.9 billion in U.S. profits.

GE paid $2.3 billion on U.S. profits of $13.1 billion. GE's 17.7% tax rate was an aberration; over the previous two years, its tax rate was only 8.8%.

2003 -- Marriott Corp. effective tax rate 6.8%.

1998 -- 24 companies $11,953,000,000 in income,
$–1,272,900,000 taxes paid
effective rate –10.6% -- (YES THAT IS NEGATIVE, THANKS TO REBATES).

Twenty-four companies paying less than zero
in federal income taxes in 1998
($-millions)
Company 98 Profit 98 Tax 98 Rate
Lyondell Chemical $ 80.0 $ –44.0 –55.0%
Texaco 182.0 –67.7 –37.2%
Chevron 708.0 –186.8 –26.4%
CSX 386.6 –102.1 –26.4%
Tosco 227.4 –46.7 –20.6%
PepsiCo 1,583.0 –302.0 –19.1%
Owens & Minor 46.1 –7.9 –17.1%
Pfizer 1,197.6 –197.2 –16.5%
J.P. Morgan 481.1 –62.3 –12.9%
Saks 83.0 –7.9 –9.5%
Goodyear 400.7 –33.2 –8.3%
Ryder 227.5 –16.4 –7.2%
Enron 189.0 –12.5 –6.6%
Colgate-Palmolive 348.5 –19.6 –5.6%
MCI Worldcom 2,724.2 –112.6 –4.1%
Eaton 478.8 –18.0 –3.8%
Weyerhaeuser 405.0 –9.5 –2.3%
General Motors 952.0 –19.0 –2.0%
El Paso Energy 383.7 –3.0 –0.8%
WestPoint Stevens 142.6 –1.2 –0.8%
MedPartners 49.6 –0.4 –0.7%
Phillips Petroleum 145.0 –1.1 –0.7%
McKesson 234.0 –1.0 –0.4%
Northrop Grumman 297.7 –1.0 –0.3%

!!!!!!!!!!!!!!!!!!!!eleven!!!!!!!!!!!!

[moo321]

Originally Posted by cardcounter0

Are you purposely posting stupid stuff? Reduce Corporate Tax rates???


Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales.
The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005. (Granted some could have lost money that year.)
More than half of foreign companies and about 42 percent of U.S. companies paid no U.S. income taxes for two or more years in that period, the report said. During that time corporate sales in the United States totaled $2.5 trillion.

Year 2000:

IBM paid $191 million in taxes on its $5.7 billion in U.S. profits last year, a tax rate of 3.4%.

GM got a tax rebate of $105 million, despite $2.9 billion in U.S. profits.

GE paid $2.3 billion on U.S. profits of $13.1 billion. GE's 17.7% tax rate was an aberration; over the previous two years, its tax rate was only 8.8%.

2003 -- Marriott Corp. effective tax rate 6.8%.

1998 -- 24 companies $11,953,000,000 in income,
$–1,272,900,000 taxes paid
effective rate –10.6% -- (YES THAT IS NEGATIVE, THANKS TO REBATES).

Twenty-four companies paying less than zero
in federal income taxes in 1998
($-millions)
Company 98 Profit 98 Tax 98 Rate
Lyondell Chemical $ 80.0 $ –44.0 –55.0%
Texaco 182.0 –67.7 –37.2%
Chevron 708.0 –186.8 –26.4%
CSX 386.6 –102.1 –26.4%
Tosco 227.4 –46.7 –20.6%
PepsiCo 1,583.0 –302.0 –19.1%
Owens & Minor 46.1 –7.9 –17.1%
Pfizer 1,197.6 –197.2 –16.5%
J.P. Morgan 481.1 –62.3 –12.9%
Saks 83.0 –7.9 –9.5%
Goodyear 400.7 –33.2 –8.3%
Ryder 227.5 –16.4 –7.2%
Enron 189.0 –12.5 –6.6%
Colgate-Palmolive 348.5 –19.6 –5.6%
MCI Worldcom 2,724.2 –112.6 –4.1%
Eaton 478.8 –18.0 –3.8%
Weyerhaeuser 405.0 –9.5 –2.3%
General Motors 952.0 –19.0 –2.0%
El Paso Energy 383.7 –3.0 –0.8%
WestPoint Stevens 142.6 –1.2 –0.8%
MedPartners 49.6 –0.4 –0.7%
Phillips Petroleum 145.0 –1.1 –0.7%
McKesson 234.0 –1.0 –0.4%
Northrop Grumman 297.7 –1.0 –0.3%

!!!!!!!!!!!!!!!!!!!!eleven!!!!!!!!!!!!

So, you're saying you favor a change in our tax code?

And do you disagree that jacking up corporate tax rates sends jobs overseas?

[cardcounter0]

Originally Posted by moo321

So, you're saying you favor a change in our tax code?

And do you disagree that jacking up corporate tax rates sends jobs overseas?

Okay let's pick a few:
Lyondell Chemical $ 80.0 $ –44.0 –55.0%
Texaco 182.0 –67.7 –37.2%
Chevron 708.0 –186.8 –26.4%
CSX 386.6 –102.1 –26.4%

So if we "jack up" Texaco's tax rate of -37% to -27%, they are going overseas? Hey, let's "increase" Chevron's taxes, let's only give them 50 million instead of the 67 million, that will make them leave!
CSX will tear up all it's tracks and move them to Mexico if we only pay them 90 million in "taxes" instead of the 102 million they are used to getting.



2 in 3 US corporations paid no taxes in 2005. How much lower do you think the rates should be?

[zengrifter]

Originally Posted by blackchipjim

We are hearing all the bail out baloney from the forked tongued politicians every minute of every day correct. Just what is really behind these political pundits and their pushing bailout agendas. Does anyone here have a money trail back to the very people these politicians are trying to save. I think they have alot of stock invested or must have friends sitting on the board of directors of these companies going down the tubes. I don't think we will ever know why or what is the driving force behind where these politicians shove the money. I would like the judicail branch of the goverment get involved in this mess to make sure no envelopes are passed to these snakes in the grass. blackchipjim

I just heard that the OIL INDUSTRY wants a bailout! zg

[blackchipjim]

The oil industry needs the money to by an army to protect the money they made the past year Zg. I remember when the oil minister of a country stated that if oil ever got above 50 bucks a barrel the world would be plunged into a depression. Well I geuss he was pretty on target so far. blackchipjim

[aslan]

Originally Posted by blackchipjim

The oil industry needs the money to by an army to protect the money they made the past year Zg. I remember when the oil minister of a country stated that if oil ever got above 50 bucks a barrel the world would be plunged into a depression. Well I geuss he was pretty on target so far. blackchipjim

There's not going to be a depression. Buy stock now. There's a fire sale going on. And look for the quickest turnaround in the history of the stock market. lol I can't even convince my wife to go along with buying more stock, and she's a bargain hunter from way back. But I sincerely believe that if you don't buy stock now, you will regret it in less that a year's time.

[zengrifter]

Originally Posted by aslan

There's not going to be a depression. Buy stock now. There's a fire sale going on. And look for the quickest turnaround in the history of the stock market. lol I can't even convince my wife to go along with buying more stock, and she's a bargain hunter from way back. But I sincerely believe that if you don't buy stock now, you will regret it in less that a year's time.

In a year's time you will tell us all if you regret not buying gold, silver, and silver mining stocks. zg

[aslan]

Originally Posted by zengrifter

In a year's time you will tell us all if you regret not buying gold, silver, and silver mining stocks. zg

Yes, yes!!! The secret is out!! Buy gold now while everyone is hawking it!!! That's the ticket!!! Don't diversify!!! Put all your eggs in one basket. Everything you can borrow, beg or steal!!! That's the ticket!!! Get on the bandwagon, the hallelujah train!!!! Be there when it all goes south!!! When it's too late to unload all that gelt, you smucks!

But don't buy stocks!!! No one else is doing it. It must be stupid. No one is hawking it. Maybe the market will go down another 40%. Yea! That's the ticket!! Bet on utter disaster. Bet on the end of the US! If that happens you can be sure that Chavez or some other loon will not come in and confiscate all your gold. No!! They will say how smart you were!!! Keep your gold!!! We love the rich man!!!

No, don't buy stocks! Don't bet that the US can rebound once more. Don't foolishly think that we are a great country and that freedom means anything at all. Don't invest in the future of this failed state. Long live whatever form of dictatorship we will fall to!!! All praise to the gold hoarders!!! The rich shall inherit the earth!!! But don't waste your money on investing in this "has been" country. Don't buy stock!! Be smart and do what every other Tom, Dick and Harry and Johnny come lately is doing. Buy gold, my friend, buy gold!!!!!!!!!