How do you like the Trump tax law now? 60 Top Corporations Paid $0 Federal Taxes

[Jhhnn]

Fern bothsides the shit out of it, huh?

The simple fact of the matter is that the recent GOP tax cut enormously favors the investor class in a variety of ways. The richer they are the more they benefit. And it's all wrapped nicely in layers of obfuscation.

Borrow money from the Rich to give it back to them as tax cuts & pay interest forever. Because reasons.

 

[Indus]

I think it's up to Congress. I'm not sure Trump knows the details of tax law.

The Dems are as guilty as the Repubs. We have a huge "green credit" (I can't remember its technical name atm) that the Dems support, and we have that awful tax treatment of the uber wealthy hedge fund managers. They live in NYC and Shumer won't allow anything to be done about it.

Fern

If those peeps are so bad, Trump could have veto'ed the legislation.

And here's who voted for and against it!

Senate: https://www.nytimes.com/interactive/2017/12/01/us/politics/senate-tax-bill-vote.html

House: https://www.nytimes.com/interactive/2017/12/19/us/politics/tax-bill-house-live-vote.html

Funny I don't see Schumer's name in the yes column. Or any democrat for that matter!

And you said Schumer won't allow anything to be done about it. Well Schumer needs to have a majority to do anything about it.. he's never been majority leader.

Lie much?

What you're doing (whether you wanted to or not) is being a partisan and lying.. and doing a partisan hack job.. a pretty awful one at that too!

Stop watching fox, info wars and do some actual research next time!

You mess with it, you own it! Shoulda fixed things while you could.. and it seems you could considering the bill passed with only Republican votes.

So Trump and the Republicans own this tax mess!

 

[ivwshane]

Here's more info on warren's tax plan.

https://abcnews.go.com/Politics/eli...ax-corporations-profits-100/story?id=62342515

https://medium.com/@teamwarren/im-p...ea-the-real-corporate-profits-tax-29dde7c960d

 

[Fern]

If those peeps are so bad, Trump could have veto'ed the legislation.

And here's who voted for and against it!

Senate: https://www.nytimes.com/interactive/2017/12/01/us/politics/senate-tax-bill-vote.html

House: https://www.nytimes.com/interactive/2017/12/19/us/politics/tax-bill-house-live-vote.html
majority leader.
-snip-

You're missing the point.

Shumer has been blocking revisions to the treatment hedge fund managers for years.

The credits I referred to have long existed. I am unaware of any new large corp tax credits in the last bill.

Fern

 

[Indus]

You're missing the point.

Shumer has been blocking revisions to the treatment hedge fund managers for years.

The credits I referred to have long existed. I am unaware of any new large corp tax credits in the last bill.

Fern

It is YOU, who is missing the point that only the MAJORITY LEADER has the power of which legislation to bring to the floor.

And the MAJORITY leader's name is and has been Mitch McConnell since 2015 (4+ years now).

Stop blaming other people! The blame lies with the person who has the power now and chooses not to use it to fix our problems.

 

[Jhhnn]

You're missing the point.

Shumer has been blocking revisions to the treatment hedge fund managers for years.

The credits I referred to have long existed. I am unaware of any new large corp tax credits in the last bill.

Fern

No, you're dodging the point & duh-verting into bothsiderism.

A funny thing happened when the GOP cut corporate taxes. Twice as many of them paid zero taxes as in several years preceding. Many more obviously paid substantially less, as well, so that stockholders could receive greater profit & pay new lower rates on their own taxes.

It's phase 1 of top down class warfare. Phase 2 is always to slash benefits that vulnerable Americans depend upon.

 

[Indus]

No, you're dodging the point & duh-verting into bothsiderism.

A funny thing happened when the GOP cut corporate taxes. Twice as many of them paid zero taxes as in several years preceding. Many more obviously paid substantially less, as well, so that stockholders could receive greater profit & pay new lower rates on their own taxes.

It's phase 1 of top down class warfare. Phase 2 is always to slash benefits that vulnerable Americans depend upon.

Phase 2: Senate Republicans Set Sights On Cutting Social Security, Medicare and Medicaid to curb deficits caused by tax cuts of 2017

 

[Franz316]

It never ceases to amaze how people making less than 100k (in many cases less than 40k) rush to the defense of the ultra rich and corporations against paying more in taxes. It's kind of surreal when you think about it. A state like Florida has super rich retired folks in the south and super poor people in the north voting for the same repubs. It must be nice having a band of minions helping you get your million dollar tax cuts.

 

[sportage]

This is soooooo funny.
People trusted Donald Trump and believed him when Trump said he would shake things up and drain the swamp.
When in all reality, Donald Trump was and is nothing more than a servant of the wealthy elite.
It doesn't matter what Donald says, Donald is for the rich and only the rich. That is where it begins and ends.
Why anyone other than the super rich would follow Donald Trump is total insanity. But they do only for the hate and for the division and for the courts to be shaped by Donald Trump. They believe Donald Trump courts will somehow benefit THEM.
So so insane.
The only time we witness similar behavior is with a cult.
And this administration is definitely a cult.

 

[Exterous]

https://www.huffpost.com/entry/60-biggest-companies-paid-no-taxes_n_5cb01f75e4b0ffefe3ae2626

President Donald Trump’s new tax law aided corporations so radically that twice as many companies paid no federal taxes whatsoever in 2018, despite billions of dollars in profit, according to a new study.

Amazon, Netflix, Chevron, Eli Lilly, Delta Airlines, General Motors, IBM and Goodyear were among the tax-free corporate titans, according to an analysis by the Institute on Taxation and Economic Policy, a Washington think tank, released Thursday.

The study found that 60 of some of the largest publicly held companies paid no taxes — compared with an average of about 30 each year from 2008 to 2015, before Trump and congressional Republicans passed the tax law that took effect in 2018. The measure heavily favors corporations and the wealthy.

IIt would be more useful to know what they paid in 2017 taxes and any notable changes between the years. For example I know #3 on that list Chevron didn't pay taxes 2017 either so that doesn't necessarily means it's a result of the new tax law and I know #2 Delta had lower income and profit margin from 2017 while their asset turnover deteriorated and their liabilities increased. So while their taxes decreased, how much was from the changes vs a worse year for the business. (I couldn't easily find John deere 2017 taxes aside from their filings which I have no desire to read through at 6am on Sunday)

This isn't a vote for the changes just the reporting could be better.

 

[ch33zw1z]

I think this is great, exactly what Americans voted for.

 

[fskimospy]

You're missing the point.

Shumer has been blocking revisions to the treatment hedge fund managers for years.

The credits I referred to have long existed. I am unaware of any new large corp tax credits in the last bill.

Fern

Republicans could have eliminated those loopholes in their tax bill regardless of what Schumer thought. They chose not to because they like them.

The most recent tax bill was basically the stupidest piece of tax legislation in American history, agreed?

 

[Jhhnn]

Republicans could have eliminated those loopholes in their tax bill regardless of what Schumer thought. They chose not to because they like them.

The most recent tax bill was basically the stupidest piece of tax legislation in American history, agreed?

It wasn't stupid for the true Bush constituency. It serves the infinite greed at the top of the GOP donor class. They bought the GOP leadership long ago & won it all in 2016. It's their due, and the GOP is glad to oblige.