Good Jobs Great Houston March For Fair Corporate Taxation On Jan. 24
There will be a Good Jobs Great Houston march and protest against the failure of U.S. corporations to pay a fair share of the taxes in our great nation.
From a Reuters story about a government study conducted during the administration of G.W. Bush—
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. 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, according to Democratic Sens. Carl Levin of Michigan and Byron Dorgan of North Dakota, who requested the GAO study.
Here are detail of the Jan. 24 march.
FACT: You have more money in your pocket than a majority of US corporations paid in federal income taxes last year.
FACT: Several of these corporations are headquartered downtown.
FACT: While these corporations dodge paying their fair share of taxes, we’re the ones getting cut and fired. What’s wrong with this picture?
Join us at the reflecting pool in front of Houston City Hall on Tuesday, January 24 at 1:30 PM, where we’ll go hog wild and march to some of these corporate HQs downtown to tell them to pay their share!
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Welcome To Texas Liberal
Texas Liberal is a blog of politics and political history.
My name is Neil Aquino. Here is my profile.
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Texas Liberal 
Should companies without taxable income pay income taxes? You seem to think they should.
Yes–They should. I also don’t favor current laws being flouted while some talk about austerity. For all the griping about the supposedly high corporate tax rates in the U.S., it is the companies themselves who would resist even a lowering of the tax rates if it came with fewer loopholes.
“Yes–They should.”
Then the term “income tax” is without meaning. Charging income tax without income is like charging property tax to people who don’t own property, or sales tax on things that aren’t purchased. It’s simply nonsense.
I knew your question was some trick and I thought about just leaving it be. But then I figured what the hell. In any case, I favor a corporate income tax enforced without loopholes.
It wasn’t a trick at all. Income tax is assessed on income. Companies that lose money (that is, companies that don’t have income) don’t pay income taxes. It’s important to recognize that there’s a difference between revenue and income.
There’s a huge difference between revenue and income. I think we need higher corporate tax rates and more exemptions for putting Americans to work.
You wanna beat the taxes? Build a research lab, build a robo factory. It doesn’t matter what. Corporate cash holdings are high and profits are high. That shit should be taxed and if they don’t like the tax they can plow the profits into production and dodge the tax.
Why do you think cash holdings are high? You think companies just enjoy having steel rooms with lots of miniature portraits of dead American statesmen in them? Businesses sit on cash in periods of economic uncertainty.
I don’t think your idea about giving incentives for research is going to work well, given that technological innovations tend to reduce the need for more workers in the short-term. ABC company opens up a research lab and figures out a great new product that only requires half the labor as the old one, that sort of thing. But I guarantee you it will distort the market for research and development to the benefit of politically well-connected companies and the detriment of everyone else. Public choice 101.