Welcome to the New RealTown! Submit Feedback
Member Login | Join RealTown
The Real Estate Network

Great Northeast Queens News

Blog by John Maniec
Little Neck, New York

Providing an on-going opportunity for the residents of Northeast Queens County here in the best part of New York City to share good and positive upcoming school, community, religious and civic events.

Subscribe

Your E-mail Address:
Subscribe to:

Recent Comments

RE: "Enough is Enough!" - Spending a Billion Dollars to be U.S. President?
I couldn't agree more, John. Politics has grown in...

Favorite Links

Site Feed

RSS Feed

Most Corporations Doing Business in U.S. pay No Federal Income Tax!

Jun. 12, 2009
Categorized in: Changes Needed in America

According to August 12, 2008 news article from Reuters, 72 per cent of all foreign corporations and about 57 per cent of U.S. companies doing business in the United States paid no federal incomes taxes for at least one year between 1998 and 2005.

In a report by the Government Accountability Office covering the above period of time, corporate sales in the United States totaled $ 2.5 trillion while more than half of foreign companies and 42 per cent of U.S. companies paid no U.S. income taxes for two or more years.

This article went on to quote U.S. Senator Bryon Dorgan of North Dakota who called this GAO report " a shocking indictment of the current tax system."  Another U.S. Senator, Carl Levin of Michigan said that " too many corporations are using tax trickery to send their profits overseas and avoid paying their fair share in the United States."

Is it about time that America's "Silent Majority" spoke up and DEMANDED that everyone who does business here in the United States PAY A FAIR SHARE OF THEIR GROSS SALES!!

I'm personally mad as hell and hope anyone who reads this blog will not only be angry but want to join me in getting this fraud changed immediately.

I have one suggestion.  Immediately, everyone who does business in the United States whether small or huge, whether a local American business or foreign entity, give a MINIMUM "one per cent  of their GROSS SALES to America" each year regardless whether they can show tax credits or paper losses via depreciation, capital improvements, etc.

For 2008, America's Gross Domestic Product (GDP) was around $ 14 trillion.  Based on one cent per dollar, that would give our federal government at least another 140 billion dollars.

That extra sum of money could go a long way toward paying for a national health plan.

I welcome comments to my ideas above.

User Comments

There are currently no user comments for this entry. Be the first to post a comment!

Write a Comment

Your Name:  RealTown Members: Click here to login
Your E-Mail: 
Your Website: 
Subject: 
Your Comment: 
Notifications: 
Privacy: 
Verification: 
To verify that you are a human and not a script, please enter the verification word from the image into the box on the right.