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OP
Campfire Regular
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Okay, here's an actual example that makes a case, I'd like to hear honest answers as to why this is okay.
Rupert Murdock's enterprises last year had made a reported ballpark profit of around $10 BILLION dollars, that's net profit after all overheads and employee expenses had been figured in.
His tax bill? Wait a minute he didn't pay any, he got a check back, not a refund because he hadn't paid any taxes in the first place. He got a check for $4.5 BILLION dollars, this isn't part of the $10 BILLION he claimed as net profits, it increased his overall profit to $14.5 BILLION.
Now here's where the common sense questions come in.
In this real world scenario how is it that if Rupert's profit margin of "only" $10 BILLION were taxed at 30%, and he would not even be thinking of getting the $4.5 Billion back from the government he never paid in in the first place, that if he only had $7 BILLION he would have to lay people off, that we would be hurting this jobs maker.
If anything he would probably want to invest more of the $10 BILLION profit back into the corporation rather than pay taxes on it, that is how taxes and write off investments work.
So... I ask how does rhetorical talk of hurting our wealthy jobs makers fit here, would Rupert self destruct his corporation in an act of defiance for having to pay taxes?
Just answer this...
Is it right that a highly profitable corporation get huge sums of money from the government when they never paid any taxes in the first place?
This is what the GOP is up against all year long.
The major difference between belief and fact is those who believe something have come to a conclusion no facts will contradict. Well informed people are open to new facts that oppose their beliefs. That also defines an open and closed mind.
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Joined: Sep 2005
Posts: 4,398
Campfire Tracker
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Campfire Tracker
Joined: Sep 2005
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Okay, here's an actual example that makes a case, I'd like to hear honest answers as to why this is okay.
Rupert Murdock's enterprises last year had made a reported ballpark profit of around $10 BILLION dollars, that's net profit after all overheads and employee expenses had been figured in.
His tax bill? Wait a minute he didn't pay any, he got a check back, not a refund because he hadn't paid any taxes in the first place. He got a check for $4.5 BILLION dollars, this isn't part of the $10 BILLION he claimed as net profits, it increased his overall profit to $14.5 BILLION.
Now here's where the common sense questions come in.
In this real world scenario how is it that if Rupert's profit margin of "only" $10 BILLION were taxed at 30%, and he would not even be thinking of getting the $4.5 Billion back from the government he never paid in in the first place, that if he only had $7 BILLION he would have to lay people off, that we would be hurting this jobs maker.
If anything he would probably want to invest more of the $10 BILLION profit back into the corporation rather than pay taxes on it, that is how taxes and write off investments work.
So... I ask how does rhetorical talk of hurting our wealthy jobs makers fit here, would Rupert self destruct his corporation in an act of defiance for having to pay taxes?
Just answer this...
Is it right that a highly profitable corporation get huge sums of money from the government when they never paid any taxes in the first place?
This is what the GOP is up against all year long. you do realize that is but a drop...you could tax the top 1/2% 100% and wouldn't even get close, especially since Dems would not want to use the extra income to payoff debt...they would spend it on free transgeder operations.
"What country can preserve it's liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance. Let them take arms." (Thomas Jefferson to James Madison, Dec. 20, 1787)
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Based on the numbers you give, I suspect you're referring to David Johnston's evaluations of News Corp as published by Reuters. He's since published a retraction, stating that he made an error and that they actually PAID $4.8B: http://www.reuters.com/article/2011/07/13/column-dcjohnston-murdoch-idUSN1E76C25320110713Most corporations strive to legally zero out their tax liability for a given year. They owe that duty to their shareholders. Government is of course free to remove those " tax loopholes". But of course, one man's "tax loophole" is another man's "charity or not-for-profit" and both sides have their own favored recipients of that big pork bucket.
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Joined: May 2003
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Campfire 'Bwana
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Campfire 'Bwana
Joined: May 2003
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the OP had that rank BS smell about it...not surprised that's exactly what it was.
Proudly representing oil companies, defense contractors, and firearms manufacturers since 1980. Because merchants of death need lawyers, too.
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Campfire Member
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Experience is what you get when you don't get what you want.
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Joined: Jun 2003
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Jun 2003
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the OP had that rank BS smell about it...not surprised that's exactly what it was. Then my link, that I now affix to all his posts, is most apropos: 243Lies
A good principle to guide me through life: “This is all I have come to expect, standard lackluster performance. Trust nothing, believe no one and realize it will only get worse…”
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Joined: Nov 2003
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Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
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Based on the numbers you give, I suspect you're referring to David Johnston's evaluations of News Corp as published by Reuters. He's since published a retraction, stating that he made an error and that they actually PAID $4.8B: http://www.reuters.com/article/2011/07/13/column-dcjohnston-murdoch-idUSN1E76C25320110713Most corporations strive to legally zero out their tax liability for a given year. They owe that duty to their shareholders. Government is of course free to remove those " tax loopholes". But of course, one man's "tax loophole" is another man's "charity or not-for-profit" and both sides have their own favored recipients of that big pork bucket. my business didnt pay taxes last year......we made a pretty good profit but my business did not pay any taxes.....the share holders(myself included) paid taxes on their dividends however....
A serious student of the "Armchair Safari" always looking for Africa/Asia hunting books
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Campfire Regular
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Campfire Regular
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So they only paid 40 percent in taxes. Not near enough to carry the freeloaders. Make them pay 80 percent. DUHHHHH
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Campfire Tracker
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Campfire Tracker
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the OP had that rank BS smell about it...not surprised that's exactly what it was. Another expose' on what 243 really is.
Steve
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Campfire Outfitter
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Campfire Outfitter
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He keeps fishin' with the same ol' wore out bait.
--- CAUGHT IN THE CROSSFIRE --- A Magic Time To Be An Illegal In America---
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Campfire Ranger
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Campfire Ranger
Joined: Jun 2001
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How many that are on the welfare rolls get checks every year that pay no taxes, are collecting entitlements for all the kids they had, get food stamps,and add nothing to the economy?
If God wanted you to walk and carry things on your back, He would not have invented stirrups and pack saddles
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Apr 2004
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to answer the question... you are talking ONE guy... and is that him personally or his corporation?
If anyone spent any time in the IRC and actually read the darn thing, most of America would be SHOCKED on how much scamming the Government does..
so do you blame the people that learn the rules and apply it?
or do you blame the way the code is written?
and the 'tax' problem is a small part of the current economic problem.. the government has a spending problem first...
and if they didn't spend so much on stupid crap... then they would have time to take a look and re evaluate problems that the OP was trying to point out...
liberals always think that it is a simple solution to major problems yet they are the only ones that 'get it'... and the problem is always created and perpetuated by anyone who is conservative...
"Minus the killings, Washington has one of the lowest crime rates in the Country" Marion Barry, Mayor of Wash DC
“Owning guns is not a right. If it were a right, it would be in the Constitution.” ~Alexandria Ocasio Cortez
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Jul 2004
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Liberals: they know so much that just isn't so.
True yesterday, today and forever, until the cursed plague is eradicated.
We may know the time Ben Carson lied, but does anyone know the time Hillary Clinton told the truth?
Immersing oneself in progressive lieberalism is no different than bathing in the sewage of Hell.
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Campfire Regular
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Just as the title of the thread says...A no brainer on taxes...A fellow with no brain making a comment about taxes!!!
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Campfire Ranger
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Campfire Ranger
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He keeps fishin' with the same ol' Hoe bait. There I fixed it for yah.
NRA Lifetime Member
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Campfire Ranger
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fact is, we don't know what to do about the deficits, no matter how much we tax the rich, or enslave the poor.
how did the Roman Empire end? anyone know for sure??
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Campfire Outfitter
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Campfire Outfitter
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Sure we know what to do. Spend less. Didn't say we'd DO it - but heck, it's easy to figure out.
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Campfire Kahuna
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Campfire Kahuna
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Liberalism is a mental disorder that leads to social disease.
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Campfire 'Bwana
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Campfire 'Bwana
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Just as the title of the thread says...A no brainer on taxes...A fellow with no brain making a comment about taxes!!! Now why didn't I think of that?! 
The first time I shot myself in the head...
Meniere's Sucks Big Time!!!
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