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Sunday Legal Briefs

[Feb 17, 2013, 5:29 pm ET] - Share - Viewing Comments

Report: Facebook paid no income tax last year. Thanks Ant via Slashdot.
Librarians Rally Behind Blogger Sued by Publisher Over Critical Comments. Thanks Slashdot.

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Re: Sunday Legal Briefs

Feb 17, 2013, 19:43

jdreyer

xXBatmanXx wrote on Feb 17, 2013, 18:17:
That FB story makes me sick, and what makes me even more mad (in a time when the President is making TRILLION dollar increases to our debt and increasing taxes on the working man) is this: An article linked on that page citing the worst tax dogers in Corporate America....

Your turn Obama.....your turn....

I'd just like to point out that Obama only enforces the laws. It's the House's job to introduce and change them, and the Senate's job to refine them. If you think the Republicans are going to do anything to RAISE taxes on Corporations you're crazy. The Dems are also co-opted by corporations, but at least they would consider changing the law in this regard.

Corporations are supposed to pay an alternative minimum tax of 20% if their deductions take them lower than that. Not sure why this didn't apply here, but Facebook should have paid $200m. It's shit like this (and offshoring profits to places like Ireland) that's a big contributor to the debt.

EDIT: What Redmask said. Also, this entire situation is a huge point in favor of publicly funded elections. Get ALL donations above say $200 per individual or corporation out of politics. Citizens United was a disaster, but it was completely broken before that anyway.




Man is equally incapable of seeing the nothingness from which he emerges and the infinity in which he is engulfed.

Subject

Comment [quote="jdreyer"Feb 17, 2013, 19:43][quote="xXBatmanXx"Feb 17, 2013, 18:17]That FB story makes me sick, and what makes me even more mad (in a time when the President is making TRILLION dollar increases to our debt and increasing taxes on the working man) is this: [url=http://www.sanders.senate.gov/newsroom/news/?id=67562604-8280-4d56-8af4-a27f59d70de5]An article linked on that page citing the worst tax dogers in Corporate America....[/url] Your turn Obama.....your turn.... [/quote] I'd just like to point out that Obama only b[i[enforces]i]b the laws. It's the House's job to introduce and change them, and the Senate's job to refine them. If you think the Republicans are going to do anything to RAISE taxes on Corporations you're crazy. The Dems are also co-opted by corporations, but at least they would consider changing the law in this regard. Corporations are supposed to pay an alternative minimum tax of 20% if their deductions take them lower than that. Not sure why this didn't apply here, but Facebook should have paid $200m. It's shit like this (and offshoring profits to places like Ireland) that's a big contributor to the debt. EDIT: What Redmask said. Also, this entire situation is a huge point in favor of publicly funded elections. Get ALL donations above say $200 per individual or corporation out of politics. Citizens United was a disaster, but it was completely broken before that anyway. [/quote]

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