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Big companies have long relied on strategies to reduce their tax bills. But the new tax law is making it even easier, with a new analysis finding that 60 profitable Fortune 500 companies paid no taxes on a total of $79 billion of profits earned in 2018.

The companies, which include tech giants such as Amazon and Netflix, should have paid a collective $16.4 billion in federal income taxes based on the Tax Cuts and Jobs Act's 21 percent corporate tax rate, according to the left-leaning Institute on Taxation and Economic Policy. Instead, these corporations received a net tax rebate of $4.3 billion. The analysis is based on the corporations' annual financial reports, which were filed earlier this year to report their 2018 results. 

Defenders of the corporate cuts under the tax law that took effect this year, which lowered the rate companies pay to 21 percent from from 35 percent, contend they will plump profits, drive investment and boost economic growth. Opponents say the drop in corporate income tax revenue will grow the deficit and make it harder to fund public programs. 

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7 minutes ago, Joker_007 said:

Look at the socialism in Venezuela and India ... Corruption! Corruption! Corruption .. i am not supporting Capitalism here.. if you think socialism is better than i am sorry...  I believe the system should be something like mix of Capitalism, Socialism and Communism (i meant economic here not the political system) .... take all the best things from these and design a new one...

 

 

https://ut01001306.schoolwires.net/cms/lib/UT01001306/Centricity/Domain/379/Gov. Term 1/Ch 1 sec 4 Capitalism Socialism Communism reading.pdf

 

bhayyoo india lo socialism ekkada vundi

look at dear friend of Modi..Ambani. Covid brought him ache 2020. forget socialism,India is not even close to democratic socialism

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8 hours ago, redsox said:

easy to blame corporations 😀

I know, even google used ireland as a tax haven. I repeat, the laws are to be blamed.

Do you think Larry Page wanted to build a great search engine as a graduate student at Stanford or do you think he wanted to evade tax laws to make more money for Google shareholders? Do you think Elon Musk wanted to build electric cars for mass consumption or do you think he wanted to make Tesla shareholders rich? 

politicians ki funding ichedi corporations, they wont go after them. Only if they pass a bill banning big corporation donations to politicians. That bill is there but never passed lol

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1 minute ago, siru said:

bhayyoo india lo socialism ekkada vundi

look at dear friend of Modi..Ambani. Covid brought him ache 2020. forget socialism,India is not even close to democratic socialism

Socialism ,Capitalism talks about economics not politics.. India has deep roots of socialism (okkadi kosam andaru, andari kosam okkadu..ade Ummadi kutumbham concept where did you got this concept from ???) 

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2 minutes ago, Joker_007 said:

Socialism ,Capitalism talks about economics not politics.. India has deep roots of socialism (okkadi kosam andaru, andari kosam okkadu..ade Ummadi kutumbham concept where did you got this concept from ???) 

ade cheptunna.used to be ante baguntadi..current situation alaga ledu

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2 hours ago, kichikamukavu said:

give me a successful socialist state. if you want socialism  you pay more than 50% on taxes 

Scandinavian countries, Norway citizens ki trust fund set chesindii 

denmark 

aa countries lo anthe vundii tax and yet ppl don't complain about it coz govt will provide all the infra, basic things as in education and healthcare 

 

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55 minutes ago, Joker_007 said:

Look at the socialism in Venezuela and India ... Corruption! Corruption! Corruption .. i am not supporting Capitalism here.. if you think socialism is better than i am sorry...  I believe the system should be something like mix of Capitalism, Socialism and Communism (i meant economic here not the political system) .... take all the best things from these and design a new one...

 

 

https://ut01001306.schoolwires.net/cms/lib/UT01001306/Centricity/Domain/379/Gov. Term 1/Ch 1 sec 4 Capitalism Socialism Communism reading.pdf

 

why can't we replicate something midway as simple as Health Care similar to the one in UK or Scandinavian countries. 

mari govt ki taxes kattedi endukanta, what are the basics that govt should provide then in a capitalistic economy ?

food, clothing, shelter-- ante capitalistic economy lo free money ki taavu ledu antar 

Education-- telisinde kada entha manchiga education istunnaroo, high school tarvata chadavali ante thata lu digostaru, elagoo captialistic country andulo kuda bigshots loopholes kanukoni valla kids ki 

protection-- telisinde kada I can't breathe 

Infrastructure-- oka rail system ledu (US is vast ani cheppadu China did it) Bokka kanisam East coast lo kuda sarigga ledu kada rail network, road lu sakkaga ledu ( federal gas tax is due for increase since 1993 coz most of the roads are funded by it) 

communism-- failed ani telchesaru kada 

socialism-- kuda waste ani DB uddandapindalu told 

captialism-- daniki kuda expiry date vuntundii ade chudali ani antunna nenu 

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IRS ki USCIS lekka funds vundii, powers vuntey they can go behind big corporations and close all the loop holes but mana lobbyists avvanivvaru coz its afterall a $3.7 billion industry. 

raise your kids to get into a federal jobs in capital, then after 10-15yrs of stint there make them lobbyists that's where the money is. 

ee thogada IT lu white hat jr lu waste. 

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5 hours ago, Lannister123 said:

 

While his theory is very valid, it is somehow discounted that those successful ones may have tried enough time to cash the luck factor where as those unlucky ones quit before their turn came

this happens all the time with friends and our acquaintances that they quit too early to reap the benefits

luck can be beatable and modable :P if tried until you get it

 

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