GAO finding: Majority of corporations pay no taxes. Sen. Levin decries 'tax trickery.'

All who cheer for corporations to pay taxes are dupes. Corporations never pay any taxes, they just pass them along to their customers through their costs of goods or services sold. If the American public understood simple accounting practices, they would see the obvious: the money they pay for a product or service includes all the costs of providing that product or service, and taxes are just one of the costs. When you demand corporations pay more taxes, in your ignorance you are demanding to be taxed more yourself. Politicians know you're stupid, so they go along with your demands - the more they soak you by raising corporate taxes, the happier you are. All corporate taxes do is change the competitive environment of the corporation. The higher their taxes, the more expensive their product, the greater their competitive disadvantage. In the end they will sell less product, employ fewer workers like you, pay them and you less, and companies in lower-tax environments will reap the benefits, and so will their host city/county/state/nation. http://strongasanoxandnearlyassmart.blogspot.com/2006/12/our-income-taxes-are-not-progressive.html

The game of screwing the American government and it's citizens has been going on since the industrustrial revolution when we went from having mom and pop stores and entered the realm of Big Business. The owners and their buddies got rich off the expense of its workers and the government (though the government certainly aided in keeping the working man "down"). This process continues today! Our govenment continues to give tax breaks to the corporations with the idea that it "helps America". Giving tax breaks to a company to encourage using alternative energy is a great idea. Giving tax breaks to such companies as Exxon, who are making RECORD profits, is down right criminal. Then, on top of it, these same companies turn around and don't pay a dime in taxes? What the heck! We may need these companies to keep our country running, but we certainly shouldn't be giving them the wheel of the ship to do what they want. It's been a free-for-all far too long and it's unacceptable. Under Reagan, the key word was "capitalism". In his eyes, that word and it's meaning was the best thing for this country. The whole idea of the "trickle down theory" is a bunch of garbage. The vast majority of us never saw (or see)a drop of benefit from the capitalistic philosophy, but we certainly felt the pain from it. When Reagan deregulated the airlines, it wasn't long before planes were falling out of the sky. Unions and the right for workers to be able to earn a fair wage and safe working conditions? Heck, that doesn't fit into the plan of capitalism. Instead, the philosophy of Big Business is to throw the workers some crumbs and make them feel fortionate that they even got that much. After all, if they don't like it, they can always find another job. That's easier said then done. Our country's idea that capitolism is king is down right crazy. It's time for Big Business to pay their fair share of taxes AND have social responsiblity. These companies grab, grab, grab until they get into trouble and then they grab some more from the goverment by then asking to be bailed out. Enough is enough.

Following is my personal experience working for a tax dodger: I worked for United Parcel Service (UPS) for 16 ½ years, starting in August of 1975 and leaving on 2/28/1992. I was a supervisor for 12 of those 16 and half years. UPS’s business model is based on taxpayer funded infrastructure from roads, bridges, airports, seaports, ect., but it’s corporate attitude focuses on paying as little of their fair share of that tax burden as possible. Part of the compensation for manager/supervisors was participation in a stock award program. In the late 1980’s UPS opened a subsidy, based in Bermuda (which has no income tax), called Over-Seas Partners Limited (OPL). The sole purpose of incorporating this shell partnership was to avoid income taxes in the United States. One of UPS’s most lucrative services was “added value insurance,” Any parcel was automatically insured for a minimum of $100.00. If a shipper wanted to add additional insurance they were required to pay (at the time) an additional 25 cents per $100.00 dollars of insurance coverage. OPL was primarily set up as a “re-insurance” corporation. UPS would collect tens of millions of dollars per year in excess valuation charges on parcels shipped with-in the US. Nearly all of this income was taxable before OPL was set up. OPL would charge UPS a re-insurance premium that removed this lucrative service from the tax columns on the corporate ledger sheets and turned the monies collected into a business cost. OPL then passed the savings in tax dollars to the US treasury into dividends and higher stock prices/values for its OPL stock. OPL branched off into other areas to shield income from the IRS. OPL was sold facilities and equipment at fire sale prices and then turned around and leased the facilities and equipment back to UPS, creating another tax write-off. When I was informed by my division manager of this new corporation, OPL, and how it was set up, I questioned him on the legality of the limited partnership. He attempted to deflect my question by appealing to greed saying, “This tax dodge was going to make us all rich.” Upon further questions he snorted, “Are you a Boy Scout?” Informing him I was in fact an Eagle Scout he told me UPS did not need any “...fucking Boy Scouts.” In the early 1990’s the IRS won the largest back taxes judgment in history against UPS and its shell partnership with OPL. UPS appealed the decision and won a judgment overturning the settlement. By then the Clinton administration had been replaced by the Bush administration and the case was quickly dropped. It should be noted that UPS’s corporate lobby UPSPAC is one of the biggest donors to the Republican Party and its candidates and UPS was a corporate sponsor of Newt Gingrich’s Contract on America.

Americans get the government they deserve. How hard the people will fight for an honest government directly corresponds to how honest of a government will manifest from their efforts. The looting and raping of America's resources since the rise of the Dark Lord reagan will continue for as long as the people allow it. This is old news about a pathetic society. I wasn't aware that foreign corporations had joined in on America's gang rape though. From a world view, Americans are just easy I suppose.

You can thank Reagan for deregulating corporations! That snake oil salesman did more to create the situation we now face than anyone else! I still can't figure out why he wasn't indicted and sent to prison for the Iran/Contra fiasco. Instead the cool aid drinking public allow buildings and airports to be named after the fake cowboy. I'm sure G.E. made a ton of money creating the media illusion which led to him becoming the president!

The DEMOCRUDS & GAO have seen this TOTALLY ABSURD TREND RAMP UP since 2001 & have done ABSOLUTELY NOTHING to decrease it! Now, if STUPID, NON-VOTING AMERICANS think a LARGER DEMOCRUD majority in both houses of Congress in 2008 will DO ANYTHING POSITIVE on this matter, YOU'RE ON SUPER HEAVY MEDICATION! The DEMOCRUDS IN CONGRESS will merely look to POSITION THEMSELVES MORE REWARDINGLY AT THE 'TAXPAYER TROUGH'! They'll do NOTHING OF SUBSTANCE on HEALTH CARE, JOBS, IMMIGRATION, HOUSING OR THE ENVIRONMENT! Obama has a BACKBONE of a TOAD & his BOYS are PURE WEALTHY WHITE BOY THUGS LIKE MCCAIN'S!