Remember the good old days, when we had good schools, nice neighborhoods, parks and libraries? Guess what? It was because corporations and wealthy people paid the majority of taxes to pay for all those things. When they quit paying, that's when things started to go down hill. Now we are on the edge of the cliff and the teahadists are screaming “jump”. They think corporations shouldn’t pay any taxes.
h ttp://www.truthandpolitics.org/top-rates.php
Today 1:34 PM Tea Partiers: Corporations Shouldn't Have To Pay Taxes
From HuffPost's Amanda Terkel on the ground in Madison, Wisconsin
According to the Wisconsin Department of Revenue, two-thirds of corporations in the state pay no taxes, and the share of corporate tax revenue funding the state government has fallen by half since 1981.
"Corporations shouldn't pay taxes at all. That's a terrible idea," said Jay from LaCrosse, who identified as a libertarian and said that businesses would just raise prices and relocate to China if they faced higher taxes.
http://www.huffingtonpost.com/...
It's not like most of them are paying taxes anyway. Most of them don’t pay taxes or pay very little compared to you and me.
http://www.huffingtonpost.com/...
http://www.dailykos.com/...
http://www.huffingtonpost.com/...
We just lowered corporate taxes to 4.9 percent in AZ and that's not including all the other goodies, like no property tax which will be shifted to home owners. Our local sales tax is 11% in the town I live in. This includes the one percent we just passed on ourselves in May to try to save our schools. That's is not including property tax and state income tax. Why are the people paying almost twenty percent state wide tax and corps get a 4.9% rate? Aren't they people too? The SC seems to think so. They have the same free speech rights as you and me. The problem is when you get into the details of the pro business bill rushed through the legislature in eighty hours, you find out they could pay almost nothing.
http://www.azpm.org/...
http://www.eastvalleytribune.com/...
We had a big announcement in AZ that Intel was going to build a new $5 billion dollar plant in Chandler. Brewer gushed about it last night, like our new business friendly legislation made this happen. This plant was in the works way before the election and this rushed legislation. By doing this we have given Intel a huge gift they didn’t need or expect. They were going to build the plant anyway. We have really just screwed ourselves out of much needed tax dollars.
The tax cut law signed by Brewer on Thursday will reduce the corporate income tax rate from its current level of nearly 7 percent to 4.9 percent by 2018.
But another provision could make that irrelevant to companies like Intel.
Under current law multi-state companies compute their Arizona income for tax purposes using a formula: 50 percent based on sales within the state, 25 percent on property value and 25 percent on payroll.
Existing law already permits export-oriented companies to elect to base their taxes 80 percent on sales within the state. That's the law that was in effect last October when Intel announced it planned to revamp another of its fabrication plants and spend up to $8 billion, at least part of that in Arizona.
Making corporate income subject to Arizona taxation based solely on sales within the state means the tax rate doesn't matter.
At the time of last fall's announcement, Bagley credited the state's business-friendly tax environment with the decision to expand in Chandler. That includes not only that 80 percent formula but also the fact that Intel has its manufacturing facilities in a foreign trade zone, providing a permanent 75 percent reduction in property taxes from what it otherwise would have to pay, a provision that remains unchanged under the new law.
That 80 percent factor was also at work when Intel decided to go ahead with the new $5 billion plant which was announced Friday, the plant Bagley said had to be planned far ahead of time.
We are giving the store away to business while we eliminate schools and almost 280,000 lower income people from state HC. This coverage was a ballot resolution passed by voters in 2000 to raise the tax on cigarettes eighty cents, and for that money to go to HC for lower income people. This money was 345.6 nmillion dollars in 2007. AZ pays some of the highest tobacco taxes in the country, two dollars a pack state tax. I wonder what the legislators think they will do with this money, since prop 203 that created the tax stated the money had to go to HC. Is this a money grab by the legislature? Expect more lawsuits. Some have already been announced, and it is because this was a tax passed by voters and has to be approved by voters to change the direction of the money. In the meantime I bet they drop the coverage anyway and say “Sue me.” It seems to be the thing to do in AZ.
http://www.azcentral.com/...
http://www.douglasdispatch.com/...
I guess the teahadists don't like the good old days as much as they say they do. If they wanted them back they would be screaming for corporations to pay their taxes. Or to at least pay what any other person would have to. Why should those that make the most pay the least?