General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHere’s something for the tax-paying ‘Mericans to keep in mind when sequestration hits in 32 days
http://underthemountainbunker.com/2013/01/28/a-nation-of-malingerers-from-welfare-queens-to-disabled-deadbeats/
liberal N proud
(60,344 posts)bigapple1963
(111 posts)Does this mean Exxon does not pay any federal taxes? I think the guy on food stamps pays little or no federal taxes.
Or is this something like mortgage interest deductions where companies can shield some revenue?
Ashy Larry
(914 posts)clarify Exxon's tax situation: http://www.motherjones.com/mojo/2011/06/ge-exxon-10-other-major-corporations-paid-negative-tax-rate
Wednesdays
(17,408 posts)Wahh... Will they never catch a break?
jeff47
(26,549 posts)what kind of subsidies?
jeff47
(26,549 posts)bigapple1963
(111 posts)"oil subsidies" direct cash subsidies or tax credits?
Cash subsidies: direct transfer of cash.
Tax credits: you still pay taxes, but just less.
I'm trying to figure out whether these subsidies are more like food stamps (as in the cartoon) or like mortgage interest deductions (tax shields).
jeff47
(26,549 posts)There's an awful lot of them, many with positive intentions (such as home heating oil assistance).
Net result is cash going from the feds to the oil companies.
Orrex
(63,224 posts)[link:http://www.google.com|If only there were some sort of online mechanism to facilitate the hunt for information among a range of sources.
If only...]
bigapple1963
(111 posts)basically says that these are tax breaks (which only work if you have taxes to pay), which are not what the poster above claimed (direct cash subsidies, zero federal taxes).
Orrex
(63,224 posts)A break on taxes owed is a direct cash subsidy. A tax break for taxes paid by a select and small constituency is a direct cash subsidy.
You apparently want to define "subsidy" as a literal wheelbarrow of actual cash actually rolled up to the corporate headquarters and dumped on the CEO's desk. That's a foolishly narrow and culpably short-sighted definition.
Smilo
(1,944 posts)We came to the conclusion that the rightwing would like nothing better than to re-introduce debtors' prisons and the poorhouses.
To them the Victorian era was one to admire. The old Scrooge and Marley are to be glorified.
blackspade
(10,056 posts)They are called private for-profit prisons.
Smilo
(1,944 posts)NutmegYankee
(16,201 posts)If you can't pay the debt or miss an appearance, you are arrested and jailed.
Modern day Debtors Prison. http://www.dailyfinance.com/2012/08/30/debtors-prison-is-back-and-just-as-cruel-as-ever/
http://consumerist.com/2011/02/17/lawmaker-tries-to-stop-modern-day-debtors-prisons/
okaawhatever
(9,462 posts)hfojvt
(37,573 posts)But I thought the fiscal cliff deal masterfully p3wned the Republicans on sequestration.
Aren't we gonna celebrate another huge victory in 32 days?