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GM to move Camero plant to China; GM Exec's turn Communists
Topic Started: Feb 17 2013, 03:50 PM (1,656 Views)
nwgeo


Yeah, I hear you--big corp.s play games like all try to. I understand to who is the welterwieght world champ from the philipeans-- isn't gonna fight in vegus cause the USA tax rate, next fight will be outside the USA. His purse was estimated at $25M but 40% was to go to taxes so he is doing the fight out side the USA.
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Woodie
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Horn12007
Feb 17 2013, 11:48 PM
Corporate Tax rate and the the real amount of taxes paid are completely different. I haven't seen any 44% number in regards to corporate tax rate.

for 2012. (This is based on income tax expense/income before tax)
Procter and Gamble paid 27.126%
Google paid 19.408%
3M paid 27.757%
Union Pacific 37.59%
Coca Cola 24.5%

You're right, but if the corporate rate in Canada is 25%, then three out of your five examples are ahead of the game before they even begin their accounting voodoo.


Edited by Woodie, Feb 18 2013, 05:02 AM.
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Woodie
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Coche Blanco
Feb 17 2013, 09:50 PM
I think GM and the banks should have failed.

No question about that. Instead, they used money taken from us at gunpoint to teach them that there is no accountability, do whatever you like.

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3tech
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Woodie
Feb 18 2013, 05:01 AM
Coche Blanco
Feb 17 2013, 09:50 PM
I think GM and the banks should have failed.

No question about that. Instead, they used money taken from us at gunpoint to teach them that there is no accountability, do whatever you like.

Don't blame the automakers (yes ALL the automakers took money - even the Japanese from their governments), blame the politicians that think it's ok to give your money away.


BTW, corporate tax rate in Canada is 15%
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nwgeo


Hmm... new it was less in Cancan but thought is was higher than 15%--if I care to find the figures I will post and link maybe way later today.
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3tech
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Corporate Income Tax Rates Canada
Effective January 1, 2011 the corporate income tax rate falls to 16.5% from 18% of 2010 corporate income tax rate. Yearly tax reductions will see the corporate income tax rate fall to 15% as of January 1, 2012. These corporate income tax reductions, says the Department of Finance Canada, will give Canadian corporations the lowest tax rate on new business investment in the Group of Seven (G7) by 2011 and the lowest statutory tax rate in the G7 by 2012.




The corporate tax rate will decrease as follows:

■21% before January 1, 2008
■19.5% effective January 1, 2008
■19% effective January 1, 2009
■18% effective January 1, 2010
■16.5% effective January 1, 2011
■15% effective January 1, 2012


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