Reply #32: Hold on now Part ll

[blueman2]

seafan

According to the very article you site at the top of your column, small companies are much more likely to pay no taxes than larger ones. Well that's a good thing wouldn't you agree? The article goes on to say that, "large" domestic corporations - with more than $250 million in assets or $50 million in gross receipts - did not pay taxes in 2005. Do you know how small of a corporation that is? A business of that small size should be referred to as a company not a "corporation" (considering what the term "corporation" implies within our argument here). So let's keep the discussion focused on these really, really big, evil corporations that I think you're referring to. First off, there is no such thing as a tax "loophole". That is if you define "loophole" as "illegal". Yes, giant corporations pay accounting firms huge money to take advantage of obscure and LEGAL tax code. Well, too bad, because that very tax code was written by... you guessed it- politicians freely elected by the citizens. The IRS simply does not allow any corporation, whether it be Apple (the evil corporation that may have made your cell phone) or Grandma's pottery shop, to avoid paying up by simply bending the rules a bit. And I've seen plenty a perp walk in my day by CEO's that tried (WorldCom, Enron, Tyco, Adelphia, etc.). The fact is that corporate taxes in America are amongst the highest of the world's larger economies. One note about my original post. I said that corporations GENERATE most of the govts tax revenues. I didn't say PAY. Think about it: Sales tax, payroll tax, income tax, capital gains tax, excise tax, commercial real estate tax, utility tax, gasoline tax, tolls from people going to and from work. And on and on. All these taxes are generated by private businesses. Hey wait... I just thought of something: Because govts can't exist w/o taxes... our govt can't exist without all these private businesses and corporations. Uh oh :(

I agree with you 100% that we need to stop shipping jobs overseas. But to say that the U.S. doesn't manufacture much any more is inaccurate. Despite the dubious trend of exporting our jobs, the U.S. still has the largest manufacturing base in the world. But you're right, we're going in the wrong direction.

Now on to WalMart. I was in wallmart the other day and I saw a pair of quality, brand name leather work boots (yes, they were made in China) for $11. $11! Why is it that whenever someone starts in on the Walmart bashing, it's always about how the 70 employees there don't have a good dental plan. But it's never about the thousands out in the community whose standard of living has been drastically raised simply buy having Walmart in their vicinity. And by the way, you seem to object to the fact that Walmarts profits "flow into their corporate coffers". Well where may I ask would you prefer them to flow to?

You say it's PEOPLE who make things, not corporations. Isn't it both? Ask an automotive worker to press out a rear bumper for a new Ford without an assembly line. Ask a construction worker to dig a utility trench without his heavy equipment built by Caterpillar. Ask a biologist to manufacture a new drug without the multibillion dollar laboratory provided by the pharmaceutical company. They'll respond by asking you to kindly step aside cause they've got work to do. They both depend on each other.

I don't even want to discuss the banks here in this discussion because that would be like presenting a toaster at a horse show. It may be a great example of a toaster.. but this here's a horse show pardner. I can't even give a definition of what the hell is going on with the banks. It's not socialism. It's not capitalism. It's not communism. I don't know what it is. Besides I gotta go, Letterman's about to start. Bye