Quote:
Originally Posted by vaylorie
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Good call. I don't know what planet you live on but 2012 Revenue for apple was around $150B (net income closer to $40B) and our federal deficit last year was around $1.1T. Yes, technically you could probably take all income from the fortune 500 companies and probably pay about 1/2 or perhaps 3/4 of the US annual deficit. This is a great idea, be sure to write your congressman!
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hahaha, yeah, I was speaking in hyperbole, but the sad truth is this:
Take the top 500 companies that report a
positive annual profit and tax it 30% and the deficit is about half gone. Don't believe me? Do the math.
http://money.cnn.com/magazines/fortu...012/full_list/
A lot of these fortune 500 companies don't pay close to the 30% (most pay about 1%) they are supposed to because of the fucked corporate tax code which they lobbied for. (more sauce:
http://www.ctj.org/pdf/notax2012.pdf) What is even more fucked is that this is only 500 corporations. A large portion of our spending problem would be solved if we stopped spending on these too big to fail companies, stopped giving them tax breaks and closed the tax loop holes.
03-06-2013, 12:52 AM
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