Corporate Taxes, or Truth about High Taxes
First, it must be understood that the Tax Code isn't written to collect Taxes, it's written to control the population.
Now all those pages are loopholes that someone put in to help a friend, or contributor. Now, when you consider that the Democratic Party has had control of Congress a vast majority of the time, you are left with the obvious problem, that this Tax code was designed by Democrats the same way the Unions were, to keep Democrats in power.
Now, what got me started on this was a post at Democratic Underground, where there is only one approved subject matter, supporting Democrats, regarding Bernie Sanders, Senator, (Socialist).
This post referenced a list that Bernie had put out, on Ten Corporations that had paid no taxes.
Now what is interesting, is that the facts are not even brushed over. Just the blast that Exxon got $19 Billion in Profits, and a Rebate from the IRS for $156 Million.
Now, how did Exxon do this? Unlike you and me and other "Regular" people. Exxon hires a bunch of Attorneys to go over each line of the Tax Code with the singular desire to save the company money. They shift money to qualify for this break, or that loophole. Now, these are the same pages of the law, almost all of it written by Democrats, that the Democratic Supporters are now screaming is unfair. As an example, if you put Solar Panels on your roof, you qualify for a Green Energy tax credit. If you change the insulation, or if you build a headquarters with Green Energy policies, you get another credit. If you use all these silly little do nothing but make you feel good things to combat Global Warming, you get credits.
Wait, there's more. By brewing Ethanol, that is to say, turning our food into gasoline, in accordance with Federal Law on the matter, you are then qualifying for subsidies to make sure that the Average Consumer doesn't know that Ethanol is more expensive to make and less useful than Gasoline.
So by wisely choosing to take advantage of all these tax breaks, and all these credits. Exxon invested in green energy, and approved programs. They instituted a Diversity Awareness program, EEOC, and every other mandated, and encouraged program out there. They put up information about carpool opportunities, and qualify for another tax break.
Now, each and every one of those dollars is taxed. When Exxon makes a profit, they pay that profit to stockholders. The stockholders are people like you, and me, who are trying to invest in our future and set money aside for our retirement. We make dividends on those earnings, and we report them to the Government, and we pay taxes on those dividends. It's called Capital Gains taxes.
So all the histrionics from the Libs is both predictable, and deplorable. First they write the laws to benefit their campaign cronies, and then they denounce those same cronies in an effort to stir up the base to cough up even more dough for the re-election campaign. Then they promise more favorable laws to the cronies, to get more campaign contributions from them.
The cronies know they have to be denounced from time to time to make the dumb voters turn out and vote Democratic. They accept this as a price of doing business. The only ones who are really being played are you Democrat supporters who think that anyone in Washington cares about what you're shouting about. They are the ones who wrote those laws. Most you approved of to help save the planet and green energy this and that. Now, you're angry because rich people are using those same laws that you wanted to save the planet to pay less in taxes.
The laws are on the books, the companies are merely serving you, and me, in finding as many opportunities to save money, as possible. If the Government put as much effort in saving money, then we wouldn't have a trillion dollar a year deficit. Instead, the Government puts that much effort into finding new ways to SPEND money they don't have, instead of saving the money they do have.
I believe the phrase here is, don't hate the player, hate the game.