America officially has the highest taxes in the World...

Discussion in 'Budget & Taxes' started by onalandline, Apr 11, 2012.

  1. FrankCapua

    FrankCapua Well-Known Member Past Donor

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    From Exxon Mobil's published income statment: (billions)


    Revenue $486.4

    Gross profit $179.6

    Operating expenses $106.1

    Interest $.25


    Pretax income $73.3

    Income taxes $31.1

    Net income $41.1



    By my calculation XOM paid 42.4% of their pretax income in income taxes.

    What do you think it should be?
     
  2. ptif219

    ptif219 Well-Known Member

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    Does not matter that is the official tax rate. I pay no payroll taxes thanks to the tax code. Does that mean the tax code is 0? I think not.
     
  3. ptif219

    ptif219 Well-Known Member

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    Yet that is not the starting point that is the legal maximum tax. I pay nothing would anyone say the US tax code is 0?
     
  4. Meta777

    Meta777 Moderator Staff Member

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    Are you going to answer my question?
     
  5. onalandline

    onalandline Well-Known Member Past Donor

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    You may not agree with all of what the OP says, but the indisputable fact is that the U.S. has the highest corporate tax rate.
     
  6. ptif219

    ptif219 Well-Known Member

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    The question that makes no sense. Tax rates have a starting point that is the tax rate
     
  7. Reiver

    Reiver Well-Known Member

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    I don't agree with it at all. As shown by ptif219, the US doesn't have the highest corporate tax rate. The OP is a piece of misinformation that deliberately makes bogus comparisons
     
  8. Meta777

    Meta777 Moderator Staff Member

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    How exactly does my question not make sense?
    I'm simply asking you which tax rate would be more useful to look at when making business and or tax burden based decisions,
    and which one you would use. It seems like that should be a very easy thing to answer, but for some reason you aren't answering it.
    I wonder why? :/
     
  9. ptif219

    ptif219 Well-Known Member

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    So then i pay no payroll taxes thanks to eic does that make the rate 0. You make no sense the starting point before deductions id the rate and the US has the highest rate to start with
     
  10. Meta777

    Meta777 Moderator Staff Member

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    For you it does. For everyone else, not necessarily.
    So can you answer the question now or not???
     
  11. stroll

    stroll New Member

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    It seems only 'the left' and international businessmen know how to compare tax rates, i.e. look at the effective rates, rightwing hacks with an agenda keep wearing blindfolders and are even proud of it. lolol
     
  12. ptif219

    ptif219 Well-Known Member

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    The answer is we look at what the feds say is the rate not what you pay after deductions.
     
  13. ptif219

    ptif219 Well-Known Member

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    No the tax rate is what the state sets before deductions
     
  14. stroll

    stroll New Member

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    So, are you complaining about Obama's unreasonable income tax as well, while your effectively paying NOTHING?
    lolol
     
  15. ptif219

    ptif219 Well-Known Member

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    That is correct. You see I pay none because our tax system is a joke. I would gladly pay taxes if they would change the tax code. I do not see that happening because the democrats could not use it then as a phoney election issue.
     
  16. Junkieturtle

    Junkieturtle Well-Known Member Donor

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  17. Reiver

    Reiver Well-Known Member

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    I blame the public education system!
     
  18. onalandline

    onalandline Well-Known Member Past Donor

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  19. Reiver

    Reiver Well-Known Member

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    Facts?? International comparisons require effective rates? Yes, agreed! The US doesn't have the highest effective rates? Yes, agreed. The OP is a deliberate misrepresentation ironically destroyed by right wingers trying to defend it? Yes, agreed.

    Those facts only differ in the extent of entertainment value
     
  20. ptif219

    ptif219 Well-Known Member

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    The highest corporate tax rate is the US
     
  21. Reiver

    Reiver Well-Known Member

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    And, as you proved, that's a fib.
     
  22. ptif219

    ptif219 Well-Known Member

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    No you take things out of context. the tax rate in the US is highest since Japan lowered theirs
     
  23. Reiver

    Reiver Well-Known Member

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    No, I gratefully acknowledged your evidence that shows the US doesn't have the highest rate. I've already congratulated you for it too!
     
  24. ptif219

    ptif219 Well-Known Member

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    What evidence?
     
  25. Reiver

    Reiver Well-Known Member

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    The evidence you gave that proved the US didn't have the highest tax rate (using of course effective rates as that is the only valid comparison). You forgot already? Shame! I thought you did very well
     

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