GE Money extended me $1300 in credit. I purchased things on Amazon and always paid my bill on time for about a year. Then one of my electronic payments was returned because of an unauthorized charge to my checking account. GE Money simply closed the account and still expects me to pay them back. They don't care about customers or maintaining business relationships. They would rather be impersonal and rude and get the money from corporate tax evasion. I'm not paying back one penny.
When there are no large companies paying below 10% effective tax rate, then conservatives, then we can have an "honest discussion" about corporate tax rates. Until that day, please just stfu.
The company only has a negative tax rate if they have a net loss, since the tax code allows them to "carry forward" any past losses in order to offset future gains. The government is not handing them money, they are merely saying if you lose 5 million this year, your taxes next year will be 5 million less. So companies only pay taxes on NET GAINS. i thought everyone knew that? What's the problem?
@wittenberg5 If that happens to be true, they shouldn't be benefited for losing money, it's competition, if you can't make your money-you're gonna fail.
@DkTankCudds Poor people pay all the taxes and rich people are the ones who receive food stamps and welfare. Poor homeless people pay more taxes than the rich. We should confiscate the money of those greedy fat cats and give them all to the poor.
This kind of thing should be top news not just on American news stations, but almost all countries news channels. With all the top corporations and high income people not paying tax, that's why they want more from everybody else. Perhaps Ron Paul's idea is best, do away with it, then we can think of other things later, Scrap it, it is government coercion at least and terrorism. Those corporations make jobs, that would be a FOX reply. Rape the citizen, congratulate the corporation.
@juicyappleish This "fixed" version of the pie is not what capitalism is about. No self-respecting libertarian or free marketer thinks that the current situation is ok. One of the core beliefs of free marketers is that loopholes and subsidies are very wrong. We want competition in business and these things really prevent the even playing field that makes capitalism a great system. It's the size of government that makes the corruption possible (regulatory bodies, unnecessary departments etc)
@stebecool Capitalism is profit and profit is theft. The discrepancy between the value of a worker's labour and his pay, is profit. Profit should either distributed equally or not exist. Salaries don't come from profits. There can be no democracy with Capitalism since a dollar is a vote, and rich men/institutions have many times the voting power
@BOZ11 I guess that's where we fundamentally differ then. Profit is theft? If profit could not exist, then why would anyone take the risk in starting a business? If a corporate worker wants a share of profit, he can buy shares. When you work for a company, you agree to terms. You earn a flat stable salary without having to put up any capital yourself and take no financial risk of loss. You can't skip financial risk and reap the benefits of ownership. Profit rewards innovation and competitiveness
@stebecool This is not a difference of opinion. Profit can only be gained by either paying under the value of the worker's labour, and/or over-charging customers. I am not against profit per se, but profits ideally wouldn't come from overcharging customers, and should be spent in the way that workplace democracy would dictate (since it's their money) as opposed to executives paying themselves the proceeds of other people's labour.
@rickyt11 If you have a family, and dont make much money, you already are in the club. And, you could just be a sole proprietorship too, you dont need to incorporate. Small business based from home is a tax sheltering miracle. Can you mow lawns? Clean a pool? Your wife take care of kids? Computer smart? Got a hobby you can sell shit? The list is endless.
@METALMAN4Wii Most of this issue is from 2 reasons today. Corporations have moved subsidiaries overseas, where business is more profitable. Financial institutions ( GE has GE capital too) are still writing off losses from collapse.
This guy is a moron. The entire time he was staring at the piece of paper. I agree with the message but get someone less stupid to voice it on air please. The he talks about negative tax rates and makes stupid jokes about being in the negative tax bracket. Can we get some insightful commentary please. From someone with a decent amount of expertise on the subject. Apparently not. Kick this fucker out and get Cenk back on.
@luvcheney pt 2 and I see you've picked BCBS. Yeah, we use them too They're the healthcare provider for the FEDERAL GOVERNMENT and thus the least likely to fuck their clients for a bonus!
@luvcheney gotcha squealin insults! Not having hundreds of thousands of dollars on hand for what for profit ins cos weasel out of does not make one a parasite.
The bit about personal income taxes is just a sand in the eyes technique. It’s used by people who forget, or strategically forget, about payroll taxes, sales taxes, higher property taxes on renters, and so on. Actual tax burden as a share of income is fairly flat in the US..
@maximummask Not at all! Only a few taxes, like cigarrette taxes, liquor. Sales taxes on your `87 Hyundai Excel are less than 2012 Mercedes. Property taxes your landlord pays for the ghetto apt. are less than Malibu mansions. Since the median wage is around $33K a yr, even SS and MediCare taxes are paid by rich, since it tops out at $108K. Cap Gains is 15%, but Warren Buffett`s corp paid 29% (2010) before he paid the 15%. People who believe him are stupid, and dont think. Biggest tax is income.
This MORON doesnt seem to realize that a huge number of Americans get tax credits on their 1040 forms that exceed the income taxes they paid in. Child tax credit, EITC both can, and DO, give large cash payouts of income taxes to people, even if they pay no income taxes.
What also annoys me is that companies that get money from the government can turn around and give that money to politicians. Military contractors, oil companies, private prison get money from the government can then give to political campaigns. Kinda of reinforces the spending behavior in Washington.
@LancePoint9 Govt unions are funded also by taxpayers. Govt unions are donating to Democrats. I cant refuse to pay my taxes, which are then funneled into the Dem party. In both cases, this issue is Govt caused, and hasnt a damn thing to do with Capitalism, or the free market. In free markets, the govt isnt giving breaks to specific corporations or industry.
@luvcheney1 I agree. Your against money in politics, so am I. I don't care which group lines our representatives' pockets with our money. The current system has too great of an cash incentive for our politicians to spend more than to spend less or wisely.
P.S. I'm not a democrat. The examples I gave were the first to my mind, but I am against all private interests funding campaigns.
@LancePoint9 I didnt say I was against money in politics. You were picking corporations that lobby. So? Unions lobby with taxpayer money! There is NO reason a private person cant use his free speech. And just because private persons own shares in corporations they dont have their free speech taken from them. However, govt paying public unions, and the money directly going back to the dem party is obscene.
@luvcheney1 So how is it different when a Private Prison uses tax dollars to fund campains then when a union does it? They both look like they are misusing our money and encouraging our politicians to misuse our money to me.
What burns my chaps about this statement is that no-one reports this on major news outlets, but we get all this screaming about how not enough american citizens are paying income tax.
Corporate tax evasion = OK!
Citizens who don't make enough to pay income tax = freeloaders!
@Bankstercide Untrue. GE not paying has been beaten to death on Fox News, Fox Business. However, what is NOT explained very well is HOW the taxes are avoided (not evaded). About 90% of all tax credits of large corporations are from the Foreign Tax Credit. GE earned $14 Billion, but $9 bill was earned OUT of the US. You see, corps go where the environment for business is friendlier. They pay their taxes abroad instead. CEOs dont shit in parks, burn, carry signs, they just move profit OUT of US.
Corps avoid taxes = tax evasion. The fact that it was done legally makes it even WORSE.
You make another interesting point though - CEOs move profit out the US... leaving the rest of us stranded in a 3rd world nation. Corps do shit in parks, burn stuff and carry signs ... it's just not as obvious.
@Bankstercide Anyone from the Rust Belt could have told you that, btw. Look at what happens to places like Flint, MI or Camden, NJ when the CEOs move their profit out of these towns...
@Bankstercide Evasion is crime. Avoidance is not. THAT is the distinction. This is simple. Corporations, Capital, move where the returns are better. I hear lots of rhetoric, and see actions, that make profit more difficult to make in the US. This idea that raising costs on Corporations is a good thing for the average guy is silly.
@luvcheney1 My god, it's like talking to an academic. We have hard data on what happens to societies and nations where you have infinitely liquid capital flows. One of the most important lessons of the Great Depression was that even though economies reach equilibrium, it may not be one that you or I can survive at.
This isn't a fucking engineering project - people have minimal requirements for living, unlike corporations, economies or governments.
@Bankstercide Great Depression marked by heavy govt spending, trade barriers, make work programs. Sound familiar? Depression of 1921 marked by spending and tax cuts, over in 2 yrs. "Long Depression" marked by massive growth rates, not a depression at all except for very short period, ,just prices falling because production outrunning growth in money supply.
@Bankstercide The first point of Capital Controls is the basic concept of Liberty. When a free people have legal capital they are not free at all f there are restrictions on moving it. Just as an individual who works, pays taxes on his income, and then is prevented from buying a product from a Chinaman, because Govt says so. This isnt freedom. Mexico had trade restrictions and capital controls for decades, it was a great source of poverty. Cap Controls simply make inefficiency the norm.
The reason no one reports this is because it's (mostly) bullshit.
Corporations are much like the rest of tax payers, they have a tax rate, and they have deductions. If, in one year or two their deductions exceed their tax liability they pay no taxes. Most folks don't get this because most of us don't have (or don't do the paperwork to prove) that we have deductions greater than the standard. When you buy a house, or if you do a lot of 1099 type work then...
you start to see how this sort of thing can develop.
For example if I'm doing contract work as a carpenter, I can buy a certain amount of tools every year and deduct those tools from my taxes at a certain rate. The truck I use to get to work I can depreciate some of that off my taxes, the gas I buy to get to work (which I have to keep logs of) etc. etc.
If I start my own company and bill through it (and say hire a few guys) these things remain true, but it comes out of...
(...) my company (usually formed as C or an S corp) taxes instead of my personal taxes (and then the company can buy me the truck shifting the expense and hte deduction etc.)
This scales from a small (another example) graphic designer "writing off" a new Mac every 3 years to Genentech buying a 5 million dollar gene analyzer.
So basically o'boy up there is lying when he says "...federal corp tax rate requires...".
@b4lish it really is a joint venture. sure, our representatives are bought... but the people doing the buying are just as at fault for offering to buy. no patriotic american would bribe a politician for their own benefit. the fault is 50-50 here.
GE paid zero taxes and actually got a 4 billion subsidy. Its CEO J.Immelt has just sent 60,000 jobs to India and is now railing for a TAX Holiday so they can bring billions of dollars stashed in the Cayman Islands for only 6 %. they will then divvy that money up amongst execs or stock buy back program. NO AMERICAN JOBS HERE..only more Lobbyist from K street to make more LOOPHOLES for them...
@rocky19421 First, you would need to see exactly WHY a corp would pay no taxes. ( besides they dont owe any). Note this loser doesnt say why. Supporters of the free market do not like targeted tax breaks to favored industries. Like mortgage interest deductions to support real estate, green energy credits for wind, solar, farm subsidies to corn for ethanol. All industries should be on a level field. BUT, this is getting govt OUT of business, which govt like to stick its nose IN.
Corporation tax is a joke. The money has to come from somewhere. What the corporations pay in taxes they cannot use to grow, pay employees etc. The shareholder, employees etc should be taxed. The whole subsidy and negative tax rates is a massive redistribution of wealth scheme. The free market economists are against bailouts, subsides, corporate welfare and the redistribution of wealth.
This is one of the reaosns people are pissed and protesting. I really don't care, people and especially corporations, need to pay their fair share of taxes. I don't feel sorry for corporations because I knew shit like this was going down. Crying about how much they pay in taxes when they aren't even paying it all. Corporations have always used loop holes.
Why the Young Turks don't make a video about the scandal od the pension plans in the private sector used to pay instead the pensions, the golden parachutes and the salaries of CEOs and SVPs???? IF SOMEONE FINALLY SHOWED WHT CORPORATIONS REALLY ARE THERE WOULD BE A REAL REVOLUTION IN THE US
I htink what the U.S has become after being thoroughly corrupted by corporate greed and authoritarian militant gutter-dragging by commercial corporations.
.
But unless most other countries' populations, the U.S population is heavily indoctrinated in a quite unique fashion (Most of them at least) which makes them denounce any and all alternatives as "communist", regardless if communism is actually even relevant as there is a multitude of alternatives to their system.
I absolutely understand the ZERO tax thing after he mentioned the company names. Every company mentioned has HUGE contracts with our federal government. These companies must have some of the most powerful lobbyists currently. I know GE has had negative tax rates the longest, Boeing, Honeywell and DuPont next. These are all WAR companies, we may know them as people who make fans or air filters, maybe plastic containers and paint, but three are WAR companies. They produce products for WAR.
@TheUSMetalhead Yes, that would be far better because investors would have a choice about whether to delay the taxation by not taking dividends (or selling the stock) increasing the company's retained earnings which would be available to finance further growth. Get smart.
@DidYouJustMakeThatUp GE I think was $14 bill. $9 bill earned out of US. The $5 bill WAS earned in the US, but GE Capital lost billions that exceeded profits in past years, so gains now are offset by past losses. This also explains Wells Fargo, B o A not paying now too. Really simple, and legitimate. Say I lost $1 million this year, and next year made $500K. I am now still $500K in debt, struggling to survive until I make a profit, overall! I dont pay, until I get out of the hole. ITs fair
@luvcheney1 If you lost $1 million this year you should be out of business period. Bankrupt, shutdown NO bailout. B of A in a free market capitalist syatem would no longer exist.
Companies like GE and Microsoft are using the tax loopholes around transfer pricing and are getting tax REFUND. They got this scheme going where they claim the US subsidiary is not making money but their foreign subsidiaries are making money.
@theautomaster Hello!!!!??? GE is already NATIONALIZED b/c it is bankcrupted by the Unions! Government owns it. Microsoft was targeted by the government with the anti-monopoly lawsuit. Government is already preventing companies left and right from growing and starting, and thus destroying jobs. Real Jobs.
@sai18kit the last decade see the highest national debt in history. 4 Trillions! Wonder what americans lived on prior to Bush and Obama when there was no stimulus package and high national debts. Things were better back then, and now the "job package" is really deceptive, b/c it expands the government even more and drain more blood out of private sector, where the real jobs creators are.
@theautomaster Yes. & people still don't fuckin' get it. I keep hearing "Why are these protestors bitching?, Corporations in the U.S. have some of the highest tax rates." Coming from people who think they will be billionaires one day too. We only have a high corporate tax rate if they actually fuckin' pay it. Instead they use accounting tricks like you said, & hide their money in offshore tax havens.
@Friedstuffsable and that is why the 76,000 page tax code must be shortened, by a lot, Liberals and Conservatives agree that the more easy it is to pay your taxes the more people will want to do it. Instead of the anal exam that people have to go through now.
@MrSpencerport These corporations have an army of accountants, they understand all the ins % outs perfectly. It is individuals & small businesses that have issues figuring out how to file.
@Friedstuffsable I think the problem can easily be solved by changing the tax law so that all profits (no matter in which subsidiary) are taxed. We can offset that with tax credit for all jobs created in the US.
@BorgKing001 How would that mean more tax for everyone? It would mean a fair tax structure for all corporations. Now most corporation pay the full rate - only those couple hundreds or so are paying getting tax REFUND.
@theautomaster Not saying it's right that they do this, but to be fair... Microsoft does donate a whole shit ton of money to charity, courtesy of Bill Gates.
Um.. isn't this slavery? This is involuntary mass donation of our hard work & effort to the richest of the rich, forcefully and subversively enacted through our own government & leadership.
@Jex134 Under slavery, you can't leave it, you can't receive income for the work, and you are bonded by a chaptel or by a level of debt you can't escape. This is not slavery because it's more abstract and you could still leave the country...
However, this is one of the worst accounting practices possible : it could lead to fraud (fraud is not slavery, but it could lead to it) and could play on incentive of production (loading the market with stuff we don't need, but take less time to make).
Some food for thought...Back in the days it was hard 2 prosecute a slavemaster unless they could find his account book.When the slave's expenses,had 2 pay for everything he did on the farm, wr nearly as much as his income then court had enough evidence 2 jail the slavemaster.Sorry for bad english but i hope you understand what im trying 2 say :)
Think of it this way, by not paying tax they are helping the community.
If they paid tax, the share holders living in the Hampdens would have less money and therefore not able to afford a Nanny, Maid, Butler, Chef, Gardener, Chaufeur, Pool Boy, Security Guards, Gate Security. They are providing Jobs, and those Jobs pay Tax.
If not - big companies not paying taxes is a big loss for the government. They have a lot of money going around in it's system and the tax they could pay could never be matched up by what you are suggesting. This is fact.
The Elite keep saying they are Job Creators to justify them not paying tax, and these are the only ones I can think of they are creating, Servants to the Elite.
@DidYouJustMakeThatUp Multinational? Parts of a corporation here, other parts over there somewhere. GE has 2 main issues for US operations. 1) Green energy. Fed govt wants to subsidize it. I oppose this. 2) GE Capital? Bank, financial institution? Large losses that carry forward, offsetting profit in future years. Legit? Totally. If I lose 10 Bill this yr, and next year make 2 bill, I pay nothing, still have 8 bill more to write off. Of GE 15 bill profit, 9 bill made outside US. No tax due.
The GOP and the Corporations themselves attribute this "high tax, anti-business" environment to why companies are outsourcing and not hiring. What anti-businesss environment? The one where we give them money for ripping the rest of us off? What a lie. This is awful.
Curiosity begs me to inquire: Boeing has for several decades now provided resources for aeronautics for the government, be they planes or testing facilities, etc... Could this contribute to that "negative" rate and would any of those other mentioned companies have a similar government contract? I tend to swing in the left, and agree this is wrong nonetheless, but I'm genuinely curious.
@Rbedwards94 I swing to the right, but I think your curiosity is reasonable. It is very difficult to get to the bottom of this subject, no media really explains it. Both right wing media, and left wing media blasts this issue, the right wing on GE because Obama likes Imelt. I havent gotten to Boeing, but have maybe 80% of the reasons GE doesnt pay taxes. Let me know if you really are interested. I will think about Boeing, if I see interest.
OH this video is going to be very informative can't wait to watch it.!!!!! press play.. okay yeah??? Yeah???? uhhhh... Getting sleepy... YAWN.... snor....zzzzzzzzz
We are heading to 3rd world status and the GOP doesn't care as they only represent the millionaires and Wall Street big business, their current employers.
Anyone who sides with the GOP is in the 1%($330,000 a year or more), or their completley insane!
@Genie, here is an example from yesterday...Yesterday Senate Republicans successfully filibustered a $60 billion infrastructure spending package. This marks the third time in less than a month that Republicans have filibustered legislation that is completely paid for and designed to create jobs.
@danb1aa. If your post was to genie0390 then you should know he's a child and proves it by posting racism, fear mongering, insults, arrogance, empty threats and lies on all TYT videos all while hiding behind his computer because he doesn't have the balls to make a video showing his face or talk to people face to face the way he does on TYT.
@danb1aa the last decade see the highest national debt in history. 4 Trillions! Wonder what americans lived on prior to Bush and Obama when there was no stimulus package and high national debts. Things were better back then, and now the "job package" is really deceptive, b/c it expands the government even more and drain more blood out of private sector, where the real jobs creators are.
At Genie, I guess you never heard of the repubs using the the threat of the filibuster? They threatened to use it everytime they didn't like something, and that something was usually tax rates on the rich! Learn how that works will ya, before you embarrass yourself even more....Repubs, so uneducated!
Progressivism (anti-liberty "liberalism") advocates changes or reform through GOV'T action.
Give ANY politician or bureaucrat the power to "redistribute & regulate" other people’s money & freedom and they will ALWAYS benefit THEIR “special interest” campaign backers; Banks, Wall Street, Military-Industrial Complex, Marxist Union Bosses, Giant "Green" Corps, Big Oil etc.
Progressivism "Big Gov't" CREATES Political Cronyism.
FIAT (counterfeit) debt-currency from the Fed FUELS THE FIRE!
I like Brian Unger. He's a good guest host. Maybe he and Cenk should play off each other one day. Cenk and Ana have good chemistry. Maybe Cenk and Brian would do a good news show too.
Well what was thier profit margin? Did they make any money? If you don't make any money then you don't pay taxes. Some had tax relief by the tax laws. Some are just amking out as you say, but it is the tax laws, not the company to blame.
hey big Brian if you weren't sooo ignorant and just plain stupid you would know that GE is one of Obowma's biggest supporter, even using NBC/MSNBC to get Obowma elected. The CEO is a super progressive ass that is Obowma's main advisor and jobs czar, who as it turns out also is outsourcing jobs to China at a tremendous rate.
for 2 yrs, the Dems controlled WH, House and Senate, didn't do anything about corporate taxes but now they have the balls to blame GOP.
what the point america like most countries in world are filled with morons they will elect an republican because most independents are basically less stupid republicans.
You mean to tell me people complain that the bottom 50% of income earners in this country don't pay income (despite paying a greater part of their income for every other tax), yet some of the wealthiest corporations pay none and that's okay?????
If Palin is POTUS instead of Obozo, she will cut that 35% tax rate and ensure that all corporations pay exactly at the lower Palin rate with NO loopholes!
THIS is the real welfare state. Welfare queen CEO's and executives. The more jobs they send overseas, the more money they get to blow on Wall St. or let their welfare recipient heirs snort up their noses. We, the working class, the 99% pay the taxes. Without things we pay for like highways, railways, airways, sea lanes, the internet, schools, police, fire, the rich would have nothing!
@Bill1275w you are quite wrong, the rich pay a great deal of taxes, because they make so much more than the middle class that even with them paying less % in taxes, they still pay for almost everything. If you take a billionaire 1% more, than that is equal to taxing 20,000 americans who make 50,000 a year 1% higher. The whole reason why there is a OWS movement is to balance the wealth in our society and make rich pay the same percent as the middle class, especially since they can afford it.
GE Money extended me $1300 in credit. I purchased things on Amazon and always paid my bill on time for about a year. Then one of my electronic payments was returned because of an unauthorized charge to my checking account. GE Money simply closed the account and still expects me to pay them back. They don't care about customers or maintaining business relationships. They would rather be impersonal and rude and get the money from corporate tax evasion. I'm not paying back one penny.
sketchyj 4 weeks ago
Is this the lawyer from Always Sunny?
BluesBerrySludgeFest 1 month ago
This has been flagged as spam show
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"Anonymous - Operation ARC engaged"
Happy New Year!
Blackbirdisms 1 month ago
When there are no large companies paying below 10% effective tax rate, then conservatives, then we can have an "honest discussion" about corporate tax rates. Until that day, please just stfu.
MyTemporaryAccount88 3 months ago
Monopoly is real! you really can get a taxbreak that gives u money!
BrutusAlbion 3 months ago in playlist More videos from TheYoungTurks
even less personality than cenk and that's quite a feat but good info.
DickOPlenty 3 months ago
so vampires do exist after-all,
who knew they are money suckers not blood suckers
unamaxify 3 months ago
The company only has a negative tax rate if they have a net loss, since the tax code allows them to "carry forward" any past losses in order to offset future gains. The government is not handing them money, they are merely saying if you lose 5 million this year, your taxes next year will be 5 million less. So companies only pay taxes on NET GAINS. i thought everyone knew that? What's the problem?
wittenberg5 3 months ago
@wittenberg5 If that happens to be true, they shouldn't be benefited for losing money, it's competition, if you can't make your money-you're gonna fail.
DkTankCudds 3 months ago
@DkTankCudds Poor people pay all the taxes and rich people are the ones who receive food stamps and welfare. Poor homeless people pay more taxes than the rich. We should confiscate the money of those greedy fat cats and give them all to the poor.
juicyappleish 3 months ago
This kind of thing should be top news not just on American news stations, but almost all countries news channels. With all the top corporations and high income people not paying tax, that's why they want more from everybody else. Perhaps Ron Paul's idea is best, do away with it, then we can think of other things later, Scrap it, it is government coercion at least and terrorism. Those corporations make jobs, that would be a FOX reply. Rape the citizen, congratulate the corporation.
4390100 3 months ago
@4390100 AS LONG AS MAINSTREAM NEWS GETS PAYOLA FROM CLUB-FED THIS WONT BECOME MAINSTREAM NEWS.
61TUNER 3 months ago
@61TUNER CLUB-FED, I like that, mind if I use that?
4390100 3 months ago
@4390100 URGE EVERYONE TO USE IT. URGE THEM TO WATCH THE MOVIE.
61TUNER 3 months ago
@61TUNER The economy is a fixed pie. SOCIALISM > CAPITALISM
juicyappleish 3 months ago
@juicyappleish This "fixed" version of the pie is not what capitalism is about. No self-respecting libertarian or free marketer thinks that the current situation is ok. One of the core beliefs of free marketers is that loopholes and subsidies are very wrong. We want competition in business and these things really prevent the even playing field that makes capitalism a great system. It's the size of government that makes the corruption possible (regulatory bodies, unnecessary departments etc)
stebecool 3 months ago
@stebecool Capitalism is profit and profit is theft. The discrepancy between the value of a worker's labour and his pay, is profit. Profit should either distributed equally or not exist. Salaries don't come from profits. There can be no democracy with Capitalism since a dollar is a vote, and rich men/institutions have many times the voting power
BOZ11 3 months ago
@BOZ11 I guess that's where we fundamentally differ then. Profit is theft? If profit could not exist, then why would anyone take the risk in starting a business? If a corporate worker wants a share of profit, he can buy shares. When you work for a company, you agree to terms. You earn a flat stable salary without having to put up any capital yourself and take no financial risk of loss. You can't skip financial risk and reap the benefits of ownership. Profit rewards innovation and competitiveness
stebecool 3 months ago
@stebecool This is not a difference of opinion. Profit can only be gained by either paying under the value of the worker's labour, and/or over-charging customers. I am not against profit per se, but profits ideally wouldn't come from overcharging customers, and should be spent in the way that workplace democracy would dictate (since it's their money) as opposed to executives paying themselves the proceeds of other people's labour.
BOZ11 3 months ago
I like how the rest of the world blame us Greeks for tax evasion..
lakeb0dom 3 months ago
i saw a tea party ad before the video play wtf
KillerTheMike 3 months ago
GE's Jeff Imelt, an Obumbles Buddy and part of his administration along with alot of Goldman Sachs people, in bed with Wall Street. Hypocrites.
uzimodem 3 months ago
Fox news is gonna be like "O... well those corperations are actually in a parallel universe...... yeaaaaaaa.............
get1modernwarfare2 3 months ago
WARNING: We have passed Stupid and have entered the realm of the Absurd...
Voltaire once said that those who can make you believe in absurdities can make you commit atrocities.
Then again, he also said that anything too stupid was sung, and we all know politicians can't sing worth shite...
Bankstercide 3 months ago
So if I become a corporation, I can be in that club?
rickyt11 3 months ago
@rickyt11 If you have a family, and dont make much money, you already are in the club. And, you could just be a sole proprietorship too, you dont need to incorporate. Small business based from home is a tax sheltering miracle. Can you mow lawns? Clean a pool? Your wife take care of kids? Computer smart? Got a hobby you can sell shit? The list is endless.
luvcheney1 3 months ago
Hey in a Free Market You have to Pay Companies to Make Money.!
Signed Every Republican
METALMAN4Wii 3 months ago
@METALMAN4Wii Most of this issue is from 2 reasons today. Corporations have moved subsidiaries overseas, where business is more profitable. Financial institutions ( GE has GE capital too) are still writing off losses from collapse.
luvcheney1 3 months ago
Love Brian Unger - mostly as the lawyer from It's Always Sunny, but he is great on this too!
ihrmc 3 months ago
keep this guy hes amazing !!!!!!!!!!
dohboh1 3 months ago 13
This guy is a moron. The entire time he was staring at the piece of paper. I agree with the message but get someone less stupid to voice it on air please. The he talks about negative tax rates and makes stupid jokes about being in the negative tax bracket. Can we get some insightful commentary please. From someone with a decent amount of expertise on the subject. Apparently not. Kick this fucker out and get Cenk back on.
ihateflags1 3 months ago
"projection". its what the right does.
SezSays 3 months ago
yeah, how many people did you employ last year? How much did you contribute to the economy? as much as General Electric????
mard420 3 months ago
this guy pisses me off i feel like breaking his nose
soliddeath1 3 months ago
Maybe if they hired more people in the US then it wouldn't be so bad but this is just corporate greed.
CHAOSoriginal 3 months ago in playlist More videos from TheYoungTurks
I think everyone should pay a 20% flat tax rich or poor. Do away with all the subsidies and tax breaks. Just charge everyone a flat 20%.
billybassman21 3 months ago
@luvcheney pt 2 and I see you've picked BCBS. Yeah, we use them too They're the healthcare provider for the FEDERAL GOVERNMENT and thus the least likely to fuck their clients for a bonus!
Bill1275w 3 months ago
@luvcheney gotcha squealin insults! Not having hundreds of thousands of dollars on hand for what for profit ins cos weasel out of does not make one a parasite.
Bill1275w 3 months ago
The bit about personal income taxes is just a sand in the eyes technique. It’s used by people who forget, or strategically forget, about payroll taxes, sales taxes, higher property taxes on renters, and so on. Actual tax burden as a share of income is fairly flat in the US..
maximummask 3 months ago
@maximummask Not at all! Only a few taxes, like cigarrette taxes, liquor. Sales taxes on your `87 Hyundai Excel are less than 2012 Mercedes. Property taxes your landlord pays for the ghetto apt. are less than Malibu mansions. Since the median wage is around $33K a yr, even SS and MediCare taxes are paid by rich, since it tops out at $108K. Cap Gains is 15%, but Warren Buffett`s corp paid 29% (2010) before he paid the 15%. People who believe him are stupid, and dont think. Biggest tax is income.
luvcheney1 3 months ago
I'm always in the negative tax bracket. I get money back every time I do my taxes! Yay!
sillygoose544 3 months ago
This MORON doesnt seem to realize that a huge number of Americans get tax credits on their 1040 forms that exceed the income taxes they paid in. Child tax credit, EITC both can, and DO, give large cash payouts of income taxes to people, even if they pay no income taxes.
luvcheney1 3 months ago
@luvcheney1 - 'Merica...It is you.
muumikopio 3 months ago
I know this for a fact, 3 of the companies named in this video have their Payroll/Tax services outsourced to the same company.
DataSeven1 3 months ago
@DataSeven1 So what? If it was less efficient, they wouldnt do it.
luvcheney1 3 months ago
What also annoys me is that companies that get money from the government can turn around and give that money to politicians. Military contractors, oil companies, private prison get money from the government can then give to political campaigns. Kinda of reinforces the spending behavior in Washington.
LancePoint9 3 months ago
Comment removed
luvcheney1 3 months ago
@LancePoint9 Govt unions are funded also by taxpayers. Govt unions are donating to Democrats. I cant refuse to pay my taxes, which are then funneled into the Dem party. In both cases, this issue is Govt caused, and hasnt a damn thing to do with Capitalism, or the free market. In free markets, the govt isnt giving breaks to specific corporations or industry.
luvcheney1 3 months ago
@luvcheney1 I agree. Your against money in politics, so am I. I don't care which group lines our representatives' pockets with our money. The current system has too great of an cash incentive for our politicians to spend more than to spend less or wisely.
P.S. I'm not a democrat. The examples I gave were the first to my mind, but I am against all private interests funding campaigns.
LancePoint9 3 months ago
@LancePoint9 I didnt say I was against money in politics. You were picking corporations that lobby. So? Unions lobby with taxpayer money! There is NO reason a private person cant use his free speech. And just because private persons own shares in corporations they dont have their free speech taken from them. However, govt paying public unions, and the money directly going back to the dem party is obscene.
luvcheney1 3 months ago
@luvcheney1 So how is it different when a Private Prison uses tax dollars to fund campains then when a union does it? They both look like they are misusing our money and encouraging our politicians to misuse our money to me.
LancePoint9 3 months ago
What burns my chaps about this statement is that no-one reports this on major news outlets, but we get all this screaming about how not enough american citizens are paying income tax.
Corporate tax evasion = OK!
Citizens who don't make enough to pay income tax = freeloaders!
Bankstercide 3 months ago 63
@Bankstercide Untrue. GE not paying has been beaten to death on Fox News, Fox Business. However, what is NOT explained very well is HOW the taxes are avoided (not evaded). About 90% of all tax credits of large corporations are from the Foreign Tax Credit. GE earned $14 Billion, but $9 bill was earned OUT of the US. You see, corps go where the environment for business is friendlier. They pay their taxes abroad instead. CEOs dont shit in parks, burn, carry signs, they just move profit OUT of US.
luvcheney1 3 months ago
@luvcheney1 Way to miss the point.
Corps avoid taxes = tax evasion. The fact that it was done legally makes it even WORSE.
You make another interesting point though - CEOs move profit out the US... leaving the rest of us stranded in a 3rd world nation. Corps do shit in parks, burn stuff and carry signs ... it's just not as obvious.
Bankstercide 3 months ago
@Bankstercide Anyone from the Rust Belt could have told you that, btw. Look at what happens to places like Flint, MI or Camden, NJ when the CEOs move their profit out of these towns...
Bankstercide 3 months ago
@Bankstercide Evasion is crime. Avoidance is not. THAT is the distinction. This is simple. Corporations, Capital, move where the returns are better. I hear lots of rhetoric, and see actions, that make profit more difficult to make in the US. This idea that raising costs on Corporations is a good thing for the average guy is silly.
luvcheney1 3 months ago
@luvcheney1 My god, it's like talking to an academic. We have hard data on what happens to societies and nations where you have infinitely liquid capital flows. One of the most important lessons of the Great Depression was that even though economies reach equilibrium, it may not be one that you or I can survive at.
This isn't a fucking engineering project - people have minimal requirements for living, unlike corporations, economies or governments.
Bankstercide 3 months ago
@Bankstercide Great Depression marked by heavy govt spending, trade barriers, make work programs. Sound familiar? Depression of 1921 marked by spending and tax cuts, over in 2 yrs. "Long Depression" marked by massive growth rates, not a depression at all except for very short period, ,just prices falling because production outrunning growth in money supply.
luvcheney1 3 months ago
@Bankstercide The first point of Capital Controls is the basic concept of Liberty. When a free people have legal capital they are not free at all f there are restrictions on moving it. Just as an individual who works, pays taxes on his income, and then is prevented from buying a product from a Chinaman, because Govt says so. This isnt freedom. Mexico had trade restrictions and capital controls for decades, it was a great source of poverty. Cap Controls simply make inefficiency the norm.
luvcheney1 3 months ago
@Bankstercide
The reason no one reports this is because it's (mostly) bullshit.
Corporations are much like the rest of tax payers, they have a tax rate, and they have deductions. If, in one year or two their deductions exceed their tax liability they pay no taxes. Most folks don't get this because most of us don't have (or don't do the paperwork to prove) that we have deductions greater than the standard. When you buy a house, or if you do a lot of 1099 type work then...
Antistotle 1 month ago
(continued)
you start to see how this sort of thing can develop.
For example if I'm doing contract work as a carpenter, I can buy a certain amount of tools every year and deduct those tools from my taxes at a certain rate. The truck I use to get to work I can depreciate some of that off my taxes, the gas I buy to get to work (which I have to keep logs of) etc. etc.
If I start my own company and bill through it (and say hire a few guys) these things remain true, but it comes out of...
Antistotle 1 month ago
(...) my company (usually formed as C or an S corp) taxes instead of my personal taxes (and then the company can buy me the truck shifting the expense and hte deduction etc.)
This scales from a small (another example) graphic designer "writing off" a new Mac every 3 years to Genentech buying a 5 million dollar gene analyzer.
So basically o'boy up there is lying when he says "...federal corp tax rate requires...".
Antistotle 1 month ago
The great part about this fact (for the corps, that is) is that it is the payout of their lobbying investment.
And what do you do with successful investments? Why, invest more in them!
TLDR: Low corp tax = more corp lobbying money in Washington DC. What fun...
Bankstercide 3 months ago
Brian , your boring.
Bring back the other guy
chugalongway 3 months ago
@chugalongway honestly i like this guy more than the other, but ana needs to come back asap!
DemetriIsMe 3 months ago
"You're not in this bracket?"
"I'm trying to.."
"No, no.. I need you to stay where you are."
<3 Best quote in a long time.
BrandonC3 3 months ago
We can't blame the corporations, its 100% governments fault. They allow these loopholes to happen.
b4lish 3 months ago in playlist More videos from TheYoungTurks
@b4lish I would...... I would have to agree.
I mean really, you could say "Oh the corporations are buying out the government..."
The government is allowing itself to be bought out.
BrandonC3 3 months ago
@b4lish it really is a joint venture. sure, our representatives are bought... but the people doing the buying are just as at fault for offering to buy. no patriotic american would bribe a politician for their own benefit. the fault is 50-50 here.
frustratedlogician 3 months ago
@b4lish And having congress sponsored by the very same corporations getting the tax breaks are not at fault?
startreking2007 3 months ago
GE paid zero taxes and actually got a 4 billion subsidy. Its CEO J.Immelt has just sent 60,000 jobs to India and is now railing for a TAX Holiday so they can bring billions of dollars stashed in the Cayman Islands for only 6 %. they will then divvy that money up amongst execs or stock buy back program. NO AMERICAN JOBS HERE..only more Lobbyist from K street to make more LOOPHOLES for them...
rocky19421 3 months ago
@rocky19421 So you think it is smarter to not have the tax holiday, and keep a total of $1.4 TRILLION OUT of the US? Boy that will show them!
luvcheney1 3 months ago
I started with nothing. Now I have EVERYTHING.
Sephy100 3 months ago
So where are the Republicans railing against these "freeloaders"? You know, the ones complaining that so many Americans pay no taxes. *crickets*
rocky19421 3 months ago 55
@rocky19421 No way they'll bitch about their bosses
Mika20 3 months ago
@rocky19421 First, you would need to see exactly WHY a corp would pay no taxes. ( besides they dont owe any). Note this loser doesnt say why. Supporters of the free market do not like targeted tax breaks to favored industries. Like mortgage interest deductions to support real estate, green energy credits for wind, solar, farm subsidies to corn for ethanol. All industries should be on a level field. BUT, this is getting govt OUT of business, which govt like to stick its nose IN.
luvcheney1 3 months ago
HI!
HACKAINC 3 months ago
all americans should stop paying taxes
HeadbangakillstheKKK 3 months ago
Welcome to america! Land of the fre...Brav.... Corporate bordello.
WonderfulDenmark 3 months ago
Corporation tax is a joke. The money has to come from somewhere. What the corporations pay in taxes they cannot use to grow, pay employees etc. The shareholder, employees etc should be taxed. The whole subsidy and negative tax rates is a massive redistribution of wealth scheme. The free market economists are against bailouts, subsides, corporate welfare and the redistribution of wealth.
bigboywasim 3 months ago
This is just disgusting, sickening.
alfredo11 3 months ago
This is one of the reaosns people are pissed and protesting. I really don't care, people and especially corporations, need to pay their fair share of taxes. I don't feel sorry for corporations because I knew shit like this was going down. Crying about how much they pay in taxes when they aren't even paying it all. Corporations have always used loop holes.
stefers08 3 months ago
Lol my bank Wells fargo, I liked wachovia better before the aquisition
born912 3 months ago
Why the Young Turks don't make a video about the scandal od the pension plans in the private sector used to pay instead the pensions, the golden parachutes and the salaries of CEOs and SVPs???? IF SOMEONE FINALLY SHOWED WHT CORPORATIONS REALLY ARE THERE WOULD BE A REAL REVOLUTION IN THE US
mrfreedomdemocracy1 3 months ago
@mrfreedomdemocracy1 ---
I htink what the U.S has become after being thoroughly corrupted by corporate greed and authoritarian militant gutter-dragging by commercial corporations.
.
But unless most other countries' populations, the U.S population is heavily indoctrinated in a quite unique fashion (Most of them at least) which makes them denounce any and all alternatives as "communist", regardless if communism is actually even relevant as there is a multitude of alternatives to their system.
underbjorn 3 months ago
It's a subversion of WTO agreements, the largest US corporates couldn't survive without protectionist state subsidies.
nilbud 3 months ago
I was warning people about this crap back in the mid-'70's--- now they understand what I was talking about!!!
MultiSamTaylor 3 months ago
I absolutely understand the ZERO tax thing after he mentioned the company names. Every company mentioned has HUGE contracts with our federal government. These companies must have some of the most powerful lobbyists currently. I know GE has had negative tax rates the longest, Boeing, Honeywell and DuPont next. These are all WAR companies, we may know them as people who make fans or air filters, maybe plastic containers and paint, but three are WAR companies. They produce products for WAR.
TheUSMetalhead 3 months ago
And that is one of the reasons why America's public infrastructure is fucked
pooyan6969 3 months ago
Corporate income tax is double taxation on investors--not a good idea if you want to promote business investment.
JuanVoyce 3 months ago
@JuanVoyce OK. Let's cut corporate taxes and then to make up for all that money we will raise rates on investors. Real smart. Not
TheUSMetalhead 3 months ago
@TheUSMetalhead Yes, that would be far better because investors would have a choice about whether to delay the taxation by not taking dividends (or selling the stock) increasing the company's retained earnings which would be available to finance further growth. Get smart.
JuanVoyce 3 months ago
Tie up that shirt you douche!
RadicalAwesomeness 3 months ago
@DidYouJustMakeThatUp GE I think was $14 bill. $9 bill earned out of US. The $5 bill WAS earned in the US, but GE Capital lost billions that exceeded profits in past years, so gains now are offset by past losses. This also explains Wells Fargo, B o A not paying now too. Really simple, and legitimate. Say I lost $1 million this year, and next year made $500K. I am now still $500K in debt, struggling to survive until I make a profit, overall! I dont pay, until I get out of the hole. ITs fair
luvcheney1 3 months ago
@luvcheney1 If you lost $1 million this year you should be out of business period. Bankrupt, shutdown NO bailout. B of A in a free market capitalist syatem would no longer exist.
rcguycan 3 months ago
@rcguycan I agree with you, but the issue of bailouts wasnt the subject.
luvcheney1 3 months ago
Who's this guy?
likeminas 3 months ago
Companies like GE and Microsoft are using the tax loopholes around transfer pricing and are getting tax REFUND. They got this scheme going where they claim the US subsidiary is not making money but their foreign subsidiaries are making money.
It's all mirrors and smoke accounting tricks.
theautomaster 3 months ago 35
@theautomaster Hello!!!!??? GE is already NATIONALIZED b/c it is bankcrupted by the Unions! Government owns it. Microsoft was targeted by the government with the anti-monopoly lawsuit. Government is already preventing companies left and right from growing and starting, and thus destroying jobs. Real Jobs.
sai18kit 3 months ago
@sai18kit the last decade see the highest national debt in history. 4 Trillions! Wonder what americans lived on prior to Bush and Obama when there was no stimulus package and high national debts. Things were better back then, and now the "job package" is really deceptive, b/c it expands the government even more and drain more blood out of private sector, where the real jobs creators are.
sai18kit 3 months ago
@sai18kit Right ! I look at Washington, D.C. as a funnel where the money of the American people goes to die.
MrSpencerport 3 months ago
@theautomaster Yes. & people still don't fuckin' get it. I keep hearing "Why are these protestors bitching?, Corporations in the U.S. have some of the highest tax rates." Coming from people who think they will be billionaires one day too. We only have a high corporate tax rate if they actually fuckin' pay it. Instead they use accounting tricks like you said, & hide their money in offshore tax havens.
Friedstuffsable 3 months ago
@Friedstuffsable and that is why the 76,000 page tax code must be shortened, by a lot, Liberals and Conservatives agree that the more easy it is to pay your taxes the more people will want to do it. Instead of the anal exam that people have to go through now.
MrSpencerport 3 months ago
@MrSpencerport These corporations have an army of accountants, they understand all the ins % outs perfectly. It is individuals & small businesses that have issues figuring out how to file.
Friedstuffsable 3 months ago
@Friedstuffsable I think the problem can easily be solved by changing the tax law so that all profits (no matter in which subsidiary) are taxed. We can offset that with tax credit for all jobs created in the US.
theautomaster 3 months ago
@theautomaster great idea, means more taxes for everyone! Hurray and it will give the government to spend trillions more on bullshit, great idea
BorgKing001 3 months ago
@BorgKing001 How would that mean more tax for everyone? It would mean a fair tax structure for all corporations. Now most corporation pay the full rate - only those couple hundreds or so are paying getting tax REFUND.
theautomaster 3 months ago
@theautomaster they would raise the price of their products and these corporations affect everyone, so yes everyone would pay more
BorgKing001 3 months ago
@theautomaster and that's why all computers in this house run a piratebay version of windows 7 ultimate
jorn1233 3 months ago
@theautomaster Not saying it's right that they do this, but to be fair... Microsoft does donate a whole shit ton of money to charity, courtesy of Bill Gates.
BrandonC3 3 months ago
Um.. isn't this slavery? This is involuntary mass donation of our hard work & effort to the richest of the rich, forcefully and subversively enacted through our own government & leadership.
.
Someone please explain how this ISN'T slavery
Jex134 3 months ago 25
@Jex134 Under slavery, you can't leave it, you can't receive income for the work, and you are bonded by a chaptel or by a level of debt you can't escape. This is not slavery because it's more abstract and you could still leave the country...
However, this is one of the worst accounting practices possible : it could lead to fraud (fraud is not slavery, but it could lead to it) and could play on incentive of production (loading the market with stuff we don't need, but take less time to make).
therrydicule 3 months ago
@Jex134
Some food for thought...Back in the days it was hard 2 prosecute a slavemaster unless they could find his account book.When the slave's expenses,had 2 pay for everything he did on the farm, wr nearly as much as his income then court had enough evidence 2 jail the slavemaster.Sorry for bad english but i hope you understand what im trying 2 say :)
Astrodicted 3 months ago
@Jex134 I could not have put it any better. BRAVO.
Bill1275w 3 months ago
@Jex134
because we're not being forced against are will to work for little to no pay, thats how this isnt slavery, stupid . . .
mmafyasco 3 months ago
Think of it this way, by not paying tax they are helping the community.
If they paid tax, the share holders living in the Hampdens would have less money and therefore not able to afford a Nanny, Maid, Butler, Chef, Gardener, Chaufeur, Pool Boy, Security Guards, Gate Security. They are providing Jobs, and those Jobs pay Tax.
JPMorganMustDie 3 months ago
@JPMorganMustDie I hope you're being ironic.
If not - big companies not paying taxes is a big loss for the government. They have a lot of money going around in it's system and the tax they could pay could never be matched up by what you are suggesting. This is fact.
Forgive me for my english, Greetings from Sweden,
Vitarussin 3 months ago
@Vitarussin
Just a Tad
The Elite keep saying they are Job Creators to justify them not paying tax, and these are the only ones I can think of they are creating, Servants to the Elite.
JPMorganMustDie 3 months ago
@DidYouJustMakeThatUp Multinational? Parts of a corporation here, other parts over there somewhere. GE has 2 main issues for US operations. 1) Green energy. Fed govt wants to subsidize it. I oppose this. 2) GE Capital? Bank, financial institution? Large losses that carry forward, offsetting profit in future years. Legit? Totally. If I lose 10 Bill this yr, and next year make 2 bill, I pay nothing, still have 8 bill more to write off. Of GE 15 bill profit, 9 bill made outside US. No tax due.
luvcheney1 3 months ago
The GOP and the Corporations themselves attribute this "high tax, anti-business" environment to why companies are outsourcing and not hiring. What anti-businesss environment? The one where we give them money for ripping the rest of us off? What a lie. This is awful.
bobwasamusicman 3 months ago in playlist More videos from TheYoungTurks
I'm starting to think Americans deserve their government
thewiffenpoof 3 months ago
LOL welfare for the rich.
thewiffenpoof 3 months ago
Why do they have negative rates? Is it because of Tax deductions that we give them for doing things we want ie investing in green tech? Explain.
kathicII 3 months ago
Curiosity begs me to inquire: Boeing has for several decades now provided resources for aeronautics for the government, be they planes or testing facilities, etc... Could this contribute to that "negative" rate and would any of those other mentioned companies have a similar government contract? I tend to swing in the left, and agree this is wrong nonetheless, but I'm genuinely curious.
Rbedwards94 3 months ago
@Rbedwards94 I swing to the right, but I think your curiosity is reasonable. It is very difficult to get to the bottom of this subject, no media really explains it. Both right wing media, and left wing media blasts this issue, the right wing on GE because Obama likes Imelt. I havent gotten to Boeing, but have maybe 80% of the reasons GE doesnt pay taxes. Let me know if you really are interested. I will think about Boeing, if I see interest.
luvcheney1 3 months ago
If they made politicial donations against the law this would of never happed.
They dont pay taxes and the money they saved goes to buying a politician.
When bush was in you could buy a president. Only oil companies had that kind of money.
nolangwhite 3 months ago
Socialism for the rich, capitalism for the poor...
theindiekidable 3 months ago
you guys just dont get it. we have to pay them for the priviliage of them doing business and making shitloads of money in and off of this country
narezul 3 months ago
watch?v=YerbXnZ_cUc&feature=youtu.be
lestliness 3 months ago
OH this video is going to be very informative can't wait to watch it.!!!!! press play.. okay yeah??? Yeah???? uhhhh... Getting sleepy... YAWN.... snor....zzzzzzzzz
lestliness 3 months ago
We are heading to 3rd world status and the GOP doesn't care as they only represent the millionaires and Wall Street big business, their current employers.
Anyone who sides with the GOP is in the 1%($330,000 a year or more), or their completley insane!
coltor9 3 months ago
@Genie,...for 2 yrs, the Dems controlled WH, House and Senate, didn't do anything about corporate taxes but now they have the balls to blame GOP.
Dems are all hypocritic bastards Wanna try again? Please go lay down.
danb1aa 3 months ago
If you want to get in that -tax bracket, you need to pay off a shit-load of politicians. 99% of us can't afford to do that.
Bobbiethejean 3 months ago 2
Take an Accounting class and you'll know corps sometimes get short term negative tax rates for legit reasons.
Dunno about GE or these corps here, but negative tax rate isn't Too ridiculous.
ttzz2003 3 months ago
@Genie, here is an example from yesterday...Yesterday Senate Republicans successfully filibustered a $60 billion infrastructure spending package. This marks the third time in less than a month that Republicans have filibustered legislation that is completely paid for and designed to create jobs.
danb1aa 3 months ago 34
@danb1aa. If your post was to genie0390 then you should know he's a child and proves it by posting racism, fear mongering, insults, arrogance, empty threats and lies on all TYT videos all while hiding behind his computer because he doesn't have the balls to make a video showing his face or talk to people face to face the way he does on TYT.
cne08 3 months ago
@danb1aa i really wouldnt call filling in potholes on roads by illegals 'jobs' or anything useful for that matter.
mrpatience2007 3 months ago
@danb1aa Holy shit, could you give me sources for your numbers please?
DarkGlitchX 3 months ago
This has been flagged as spam show
@danb1aa the last decade see the highest national debt in history. 4 Trillions! Wonder what americans lived on prior to Bush and Obama when there was no stimulus package and high national debts. Things were better back then, and now the "job package" is really deceptive, b/c it expands the government even more and drain more blood out of private sector, where the real jobs creators are.
sai18kit 3 months ago
At Genie, I guess you never heard of the repubs using the the threat of the filibuster? They threatened to use it everytime they didn't like something, and that something was usually tax rates on the rich! Learn how that works will ya, before you embarrass yourself even more....Repubs, so uneducated!
danb1aa 3 months ago 2
This has been flagged as spam show
Progressivism (anti-liberty "liberalism") advocates changes or reform through GOV'T action.
Give ANY politician or bureaucrat the power to "redistribute & regulate" other people’s money & freedom and they will ALWAYS benefit THEIR “special interest” campaign backers; Banks, Wall Street, Military-Industrial Complex, Marxist Union Bosses, Giant "Green" Corps, Big Oil etc.
Progressivism "Big Gov't" CREATES Political Cronyism.
FIAT (counterfeit) debt-currency from the Fed FUELS THE FIRE!
yakyakyak69 3 months ago
I like Brian Unger. He's a good guest host. Maybe he and Cenk should play off each other one day. Cenk and Ana have good chemistry. Maybe Cenk and Brian would do a good news show too.
BooGooNFlowoo4Evoo 3 months ago
Well what was thier profit margin? Did they make any money? If you don't make any money then you don't pay taxes. Some had tax relief by the tax laws. Some are just amking out as you say, but it is the tax laws, not the company to blame.
jimisback 3 months ago
@jimisback
Are you doubting Verizon made billions?
Go diaf.
mecher3k 3 months ago
@mecher3k No I am not. Are you saying the tax laws did not provide for the tax cuts, or that it was all profit and did not just pay taxes?
jimisback 3 months ago
hey big Brian if you weren't sooo ignorant and just plain stupid you would know that GE is one of Obowma's biggest supporter, even using NBC/MSNBC to get Obowma elected. The CEO is a super progressive ass that is Obowma's main advisor and jobs czar, who as it turns out also is outsourcing jobs to China at a tremendous rate.
for 2 yrs, the Dems controlled WH, House and Senate, didn't do anything about corporate taxes but now they have the balls to blame GOP.
Dems are all hypocritic bastards
genie0390 3 months ago
@genie0390
This entire comment is made useless when you factor in that TYT bashes both parties you idiot.
mecher3k 3 months ago
is this before or after subsidies?
Underpantsniper 3 months ago
what the point america like most countries in world are filled with morons they will elect an republican because most independents are basically less stupid republicans.
bumfire007 3 months ago
You guy's can't get into the negative tax brackets, you're not giant corporations.
MrCrazyCanuk 3 months ago
I just noticed this guy was the host of that show on history channel How the States Got Their Shapes. 0.o
RaybornButtercups 3 months ago
Dang... if only there was an affordable phone company other than Verizon locally... I'd switch over. :<
Numbuh7 3 months ago
Verizon really fucks over its customers with unnecessary fees. As well as most cell phone providers
kanwan4 3 months ago
ahahhahah can you hear me now
grnbbllntrck 3 months ago in playlist More videos from TheYoungTurks
You mean to tell me people complain that the bottom 50% of income earners in this country don't pay income (despite paying a greater part of their income for every other tax), yet some of the wealthiest corporations pay none and that's okay?????
robinhoodOO7 3 months ago
Oh shit. DuPont. Well....that's 90% of the jobs in Delaware. You go after them they WILL sabotage the entire state to make a point.
Twiztedgoalie 3 months ago
Fuck, finally got the killer blow reason to kill my Wells Fargo account.
OtakuRebel 3 months ago
If Palin is POTUS instead of Obozo, she will cut that 35% tax rate and ensure that all corporations pay exactly at the lower Palin rate with NO loopholes!
ecwaufisxtreme 3 months ago
And here Republicans complain about the working poor with dependents receiving earned income credit!
JEFF9K 3 months ago
This has been flagged as spam show
The U.S corporate-run state is an example for any country of what not to become.
underbjorn 3 months ago
Just a reminder brian, "Can you hear me now" is not verizons' modo XD
upplsuckimcool16 3 months ago
The government rent (which is what taxes are) for corporations is TOO DAMN LOW!!!
A86 3 months ago
why does it say " as seen on whitewomenblackmen(.) com" under the like/dislike bar? was this on some porn site too?
osoelv702 3 months ago
Remember the fiery-eye liberal who said that corporations should pay their fair share? I think his name was Ronald Reagan.
fatcharlie24 3 months ago
If the government can help them out a little more, then they might create a job or two. Don't count on it!
rbauer1632 3 months ago
THIS is the real welfare state. Welfare queen CEO's and executives. The more jobs they send overseas, the more money they get to blow on Wall St. or let their welfare recipient heirs snort up their noses. We, the working class, the 99% pay the taxes. Without things we pay for like highways, railways, airways, sea lanes, the internet, schools, police, fire, the rich would have nothing!
Bill1275w 3 months ago 62
@Bill1275w you are quite wrong, the rich pay a great deal of taxes, because they make so much more than the middle class that even with them paying less % in taxes, they still pay for almost everything. If you take a billionaire 1% more, than that is equal to taxing 20,000 americans who make 50,000 a year 1% higher. The whole reason why there is a OWS movement is to balance the wealth in our society and make rich pay the same percent as the middle class, especially since they can afford it.
DeagleBeagle 3 months ago