Here we go. Election 2004.

[Compunuts]

So is Walmart, many banks and countless businesses. IRS lower taxes for banks who open up brunches in low income area even if it's one brunch. Walmart got tax write-offs for many donations as well as promotions. Now, do they really need it? NO. They can afford to waste some stuff from their warehouses and afford to give away. No, our government paid them as tax write offs for those junks retailed-values eventhough that they are throwing away anyway.

If we close enough corporate warefare loopholes, may be we can better afford quality healthcare as well as quality education?

[quote author=Ashcrow link=board=17;threadid=9947;start=120#msg90578 date=1100724394]
McDonalds get's money from the US Government to subsidise (sp?) diffrent things. Sad since they are one of the biggest companies here.
[/quote]

And they don't pay taxes... yes that's right..

[Compunuts]

The truth is every company paid taxes but they just write off for different various reasons. So many loopholes. So is the rich. They can write off taxes like crazy.

[quote author=Compunuts link=board=17;threadid=9947;start=120#msg90669 date=1100981535]
The truth is every company paid taxes but they just write off for different various reasons. So many loopholes. So is the rich. They can write off taxes like crazy.
[/quote]

The loophole they use is to intertrade with themselv, claiming the own the "mother company" a lot of cash, so each year they effectively don't earn anything (they pay interest instead).. now the mothercompany is placed in a taxhaven like the Cayman Islands, so there the corporate tax is low or zero..

Voila, no tax, full profit..

I know Shell, Coca-Cola and McDonalds at least use that here, now the wonderful fellas at the WTO doesn't wanna help stop this misuse, being the corrupt bastards with no thought to the fact that they are destroying the income tax system they are.

[Compunuts]

So is Seagate Technology. They are based in Cayman Islands. The problem is that the FED can close that loophole. Just that they are not willing to due to pressure from some corporate America and those who donate to their campaign coffer.