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We're Not Broke - The Corporate Tax Cheats of America
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- čas přidán 23. 07. 2015
- America is in the grip of a societal economic panic. Lawmakers cry, "we're broke!" as they slash budgets, lay off schoolteachers, police, and firefighters, crumbling our country's social fabric and leaving many Americans scrambling to survive. Meanwhile, multibillion-dollar American corporations like Exxon, Google and Bank of America are making record profits. And while the deficit climbs and the cuts go deeper, these corporations - with intimate ties to our political leaders - are concealing colossal profits overseas to avoid paying U.S. income tax. WE'RE NOT BROKE is the story of how U.S. corporations have been able to hide over a trillion dollars from Uncle Sam, and how seven fed-up Americans from across the country, take their frustration to the streets?and vow to make the corporations pay their fair share.
Always enough money for their wars.
I know, right?! and entertainment and foreign aid, the list goes on
And how much in billions do corporations keep in off shore accounts?
Trillions.
Mr Sosha Da baad Man Trillions?!? that’s a lot of billions!
America has the wrong "thinking". Money is MISMANAGED. Before always attacking companies or individuals, how about controling your spending? Big companies never paid tax and never will. THEY PASS THEM TO THE CUSTOMER AND SHAREHOLDERS. How about downsizing government??
Truth is a tough pill to swallow for taxpayers who focus on the poor as a problem, why I don't know but 47 people own more wealth than 3.6 billion people 24 right here in the USA.
Regulations and taxes is why your wages went down . A business can't afford to pay higher wAges , taxes and regulations . You can't have all
The study was recently corrected: It's only 8 men who own as much wealth as half of the world.
No Ben, that's your brainwashing speaking and the oligarchs, rich business owners, and multi-national corporations have worked really hard to make you think that, and they love you for being so easy.
Bullshit Ben. Complete, utter bullshit.
@@mechanix3177 If they own that wealth honestly by selling a product or service people voluntarily desire, good for them. The problem is when they become wealthy thru special favors. That's called cronyism.
Gotta love the way they pretend $70bn is what's lost in taxation, but they gave Bank of America $1Trillion....as a bailout.
Don't be fooled, people....
Vote Bernie 2020! USA can still turn this around!
:(
Sure, You think he runs the show?? He's looking for votes. How do you think they get in office? He needs their money. He would have to return the favors. The more you tax them, the more they'll try avoid them. You accomplish NOTHING. How about cut government spending? Military first. Complete waste of money. Then, close useless departments. Dept of energy, commerce, education are HUGE bureaucracies accomplishing NOTHING.
why don't we audit these companies. if IRS audits and no adjustments they must be following the law. where we need to improve is in multi-national corps that use section 482 which is transfer pricing allocating expenses giving an advantage to those that can allocate expenses to the highest tax rate company.
Because, for the most part, the companies work within the law. The problem is that the laws need to change.
Hope he knows that income taxes does not go to anything like schools roads or anything at all ! It goes to IMF and Vatican ! Look at Grace Commission in 1983. The income of taxes from corps is exacatly what we spend on military budget . personal income taxes do not help with anything !
could you link article?
helps pay interest on debt aka " printed" money, the problem is that its been a long time since taxes couldn't be enough for a little slice of the debt to be paid. The solution? idk, convincing governments to go back to sound tangible currency? gold standard? deflation? default of wall street debt? who knows maybe they'll change nothing ever.
It's true that corporations have a fiduciary responsibility to their shareholders to be as profitable as possible. That is why it is up to us to demand that the laws are so air tight that they cannot chase profit ad the expense of the health of our country. The reason why US companies are some of the most profitable in world is because of the strong US consumer base. Yes entrepreneurs are important but their consumers are even more important. If you don't believe me try getting rich off of a brilliant product there is no demand for. We the consumers drive their profits and in return we deserve to have our social services supported by the wealth that we created.
because you either need or want them right?
you dont need a house, food, and clothes?
you dont want a phone, internet, and movies? i thought so.
With this mentality, capitalism was a success for some time. Air tight laws for the rich to make sure they dont ruin the society by dominating too much and instead be the responsible aristocrat we thought they were.
4 day work week.
Stopped 4 1/2 minutes in, saw enough, its the lawmakers, its the lawmakers and one more time in case you still don't get it: ITS THE LAWMAKERS
LOL LOL The "LAWMAKERS" have "PAYMASTERS" and that ain't YOU. So, maybe you should at least try to achieve some level of education bc your comment only points to your lack of knowledge.
Those "lawmakers" have been bought and paid for by corporations.
Lawmakers are OWNED by corporations YEsanything, or do you fail to grasp the connection?
It's the lawmakers and only the lawmakers who have the power to change anything. Begging corporations to start paying taxes isn't going to change anything. It has to happen in Congress.
Not as long corporations keep lobbying the Congress with millions. Corporations are not bystanders. They actively lobby Congress to pass tax laws that benefit them. So at the end of the day, it's the corporations' fault. @@JDiculous1
Welp...this plan utterly failed :/
Are you saying we haven't run out of other people's money yet?
trickle down economics lol keep on sleeping sheeple
I'd rather we focus on Federal Reserve monetary policy. Central planning of our dollar has led to our incredibly large and growing wealth gap. Lowering taxes and spending is not a problem - it is too much federal spending and too much borrowing and loose monetary policy at the Federal Reserve that is destroying this country.
Is there an update on this or another documentary with more up to date info?
I was under the impression in America children didn't have to pay taxes?
HATS OFF to those attorneys and accountants that manage to avoid those taxes. Politicians SQUANDER THE MONEY to get votes from the ignorant. They take from one and give to another and waste half of it in the process. When politicians become more responsible with OTHER'S money, then we can discuss this subject. Americans need to learn of being more responsible for themselves and stop expecting something for nothing.
lol this
not only do they waste they overpay and give to their friends who got them elected
@@stayswervin554 Exactly bro. How can ANY SANE person think that those lobbyists do anything for free. They're not in the charity business.
*What would happen if governments were to cease to exist?*
Like all prospects, it depends on the circumstance of how and why the governments would cease to exist. If it were through the peaceful noncompliance of peoples to cooperate and obey the government by a substantial majority of the people. Then an equitable system of voluntary cooperation might possibly arise.
If there is the advent of violent revolution, it would simply be “Meet the new boss-Same as the old boss” again.
The most likely future seems to be a gradual crumbling into chaos from a despotic global order that fails dramatically and ends in a new Dark Age.
The major distinction of “government” from all other human systems of organization is that the “government” claims and asserts the sole authority to uses coercion and deadly force.
\\][//
Is this a PBS production?
Bring on the Fair Tax, corporations would end up paying their taxes through everything they buy to do business.
That's a pipe dream bro. Any tax put on any business, they pass 100% on the consumer. Why doesnt anyone discuss downsizing government and get their nose out of shit they dont need to be in?
keep watching TV
You might check the spelling in your title. Were should be We're.
Corporations do not pay taxes. Corporations are tax collectors.
Individuals pay taxes. Governments waste most of their tax income because there is no accountability. Your energies are focused in wrong place. Get the money out of governments which will eliminate subsidizes which is nothing more than the political party in power picks winners and losers. Use your head. Increase their cost you increase the price. Be honest. Only tax the individuals so they can decide if the expense is worth the tax.
Ham & Eggs... Right on! If we want to CHANGE the way tax "shelters" and tax "deductions" work for corporations, then CHANGE the politicians who created the system in the first place. The tax lawyers RESPOND to the tax code. The PROBLEM is that our politicians, news media, and college professors have been force-feeding us Liberal/Marxist/Globalist philosophies for decades - all the while THEY are the biggest problem. And how do good Marxists increase their power? Just look at the Clintons. You get in bed with big corporations and promise them stuff for big $$$, then you create class warfare, and then you create the illusion of "victimizers" and whine over every "victim" you can find that the people are gullible enough to swallow. And all the while, the "Victimizer" is the politicians who CREATED the mess in the first place! I sure hope Trump REALLY wants to fix this stuff - because Clinton will do well to get 40% of the vote by November 8th.
stop spreading dinsinfo garbage, the income is not wasted, its just never gonna be enough compared to budget and national debt, few trillions vs 30, its never happenning. But we needed this big budget to get our powerful international government and elites, and infrastructures and economy.
This movie explains why Donald Trump became President
In time... justice delayed but never denied.js
Audit please not too many drawing
This movie doesn't even touch on misappropriation or embezzlement.
and when a company passes a IRS Audit it means they're paying their fair share. is there some kind of conspiracy that the IRS intentionally isn't doing their job? no. but this video makes it out to seem so.
Merry Christmas 2015
Merry Christmas 2016.
BinaryTV and happy new years 2017,right back at cha...is there a story for your YT name?
This is BS, if corporations were still taxed that would only amount to about 100 billion $, but the federal government gets into trillions of dollars of debt each year hence the deficit spending, a fancy word for spending way more than they collect in taxes, also corporations do not pay taxes, its the share holders, employees or customers who would end up footing the bill, companies are entities owned by humans and they employ and serve humans, its these humans who will foot the bill, this is a red herring, please read some Austrian school of economics articles to get educated, the federal goervement borrows way way more than they collect, end that and fix debt and deficit spending
yes, but there is no "fixing", its by design to issue money indefinitely because they want big budgets for big military and big infrastructures and big social security. The only way to finance that is trillions of deficit. But now we don't need growth we need maintenance and renewal of infrastructure and economy and financial system. Maybe going back to either a deflation or default on wall street debt and shrink the money supply drastically, or go back to a sort of gold standard? 🤔
Um, companies don't pay federal income tax, Individuals do. And the government should always be broke. Their only source o income from taxes, which is then meant to be spent on our behalf. When the government does need money it spends bonds issued by the Federal Resever
Unions hire to many workers in public sector
Amoreica
Unemployment , cost of goods would go up if you tax business to hell
The problem is they don't pay taxes, or if they do very little.Trickle down economics doesn't work because most of those corporations keep that extra money. They don't hire more people they give their CEOs or shareholders the money.
@@dellper1 well what are they supposed to do?
lets say you make 30k a year you decide to invest into a company you go sleeping on the floor until your business is profitable while your employees get to sleep in their beds.
would you say hey as soon as i get a little bit of money they take it not your back to square one sleeping on the floor until your profitable
@@stayswervin554 I want them to pay their fair share of taxes once they become wealthy . You know how fast we could pay the national debt off if they did.? We could fix roads ect. why should it all fall on the backs of the poor and middleclass?
@@dellper1 because who do you think employees people upper middle or lower class? The upper class not to mention they pay 71% of all taxs the top 10%
the top 1% pays 40%
The top .1% pays 25%
Billionaires make up .000018% if I’m not mistaken.
But anyway if you tax the people making the jobs there will be less jobs.
Less jobs mean more public assistance and higher prices. 🙄
Please use your common sense. Do you not notice prices rising? Biden is a idiot he’s been on the wrong side of politics for 50 yrs
@@stayswervin554 Nope! Just because they create low paying jobs that should make them Tax exempt . You can spout all the numbers you want but most of them pay little or no taxes. Amazon and Netflix are just 2 examples. I don't know if you're rich or not but they sure have you fooled
This is all coming from people who know nothing about tax laws. Do you know how many hoops you have to jump through to get a zero tax liability? Millions. Those hoops include paying wages to all the people you employee, paying people for the services they perform for your business, and paying charitable contributions. Yes offshoring is a problem, but you'll have a hard time making nontaxable money as a US citizen if you relocate all your business offshore. As soon as you bring it home, your taxed individually in the 40% tax bracket (if not the offshore investment wasn't worth it). If America doesn't get any money out of the corporations, it sure as hell gets that money out of the employees and owners of these corporations.
+Nathan Goss Did you watch this film?Those "hoops" were made by corp lawyers to lower corp taxes...there were 1,200 pages in tax laws in 1913,now there are 72,000,they were made by corp lawyers..Do you understand you and I make up the lost money in fed fees,utils,cable bills,cars,sports tix,and so on.The gov's bills don't go away,they now have less money to pay their bills.I'm at a loss as to why people don't understand this...millions of mom and pop biz sell a product or service,pay wages,and make a profit.All without gov welfare,or corp loop holes...You're fine with Citibank making 4 billion,then paying zero fed tax.What's wrong with you?
Well you are talking to someone who works as a public accountant and see's this all the time, and see's the side of the story they are not telling. What I'm trying to say is that even though the Corp doesn't get taxed, the individuals that make up the Corp get taxed, the individuals make that make up the Corp gets taxed. What doesn't hit the Corp's tax liability hits flow down to the owners who everyone seems to hate, however they are the reason any of us have jobs, and any semblance of an economy. The owner's share of the profit is taxed. IN THE END THE TAXES ARE GETTING PAID NO MATTER WHAT TAX FORM IT IS. Another problem is the government is horrible about allocating and budgeting money without any proper oversight. Any smart business person will tell you that you make a budget first, and then you decide what programs you will fund with with that budget. The government works the opposite way. While they are passing bills, they love to yap on about the ethics and need of some program, and then, after being passed, they decide how they are going to pay for it. I wish some of these government programs could go through some budget department before the president signs off on them. Maybe then we wouldn't be in debt.
+Nathan Goss So you deal with profit shifting to foreign countries? Before profits get declared, before any taxes are filed, they are being shifted to other countries. Normally to a place where they pay 0 or a lot lower tax rate, and as long as they dont bring that money back to the states they wont pay anything off of their multi billion dollar taxes.
So they are running their companies in the United states, and while the workers earning their wages in the company do pay taxes there. Those workers take in a fixed income, meanwhile 95% of new income and profits arent being taxed.
+Nathan Goss conjugator.reverso.net/conjugation-english-verb-see.html
+Will Brown There are people who complain about the loopholes, and there are people who use the loopholes. The choice is your's. Those loopholes can put a lot of money in your pocket. I think money is better in your pocket than in Uncle Sam's pocket. Do a little research on how Governments waste money on projects that don't work.
I praise these deductions and credits. Here's why: Let's say I'm rich and you're poor. I have a a huge tax liability and you are starving. To solve both our problems I hire you for a job, spend money for your tools, pay your salary, and rack up a bunch of deductible expenses to make your job easier. By spending all this money I am lowering my tax liability and helping you out. Now here is the thing I don't think everyone is understanding: There are three parties who will be taxed here which is you, me, and the corporation. As long as I spend the money the way the tax code tells me, the corporation won't have to pay a thing in taxes. However, you and I will end up with the money through all these salary and distribution deductions, and thus, we will pay the taxes. Yes, that seems unfair, but look at it this way: The Corporation is our bread basket, and we want the bread basket to stay profitable. We want to protect our source of income. If that means stashing some reserves in a foreign country, I'll do it because it helps our bread basket.
Here's another reason I like the tax code: In the example I just wrote out above, you will see a distribution of wealth by a private corporation as a by product of the tax code. I'm rich, and your poor. The government says that I will have to give up 40 percent of my income if I don't play by their rules. Their rules: Expense a ton of money in a business venture that will create jobs, or give to charity. I choose the business route which will create income for my employees (you). Maybe, I hate the idea of redistributing my wealth, but I hate the idea of Uncle Sam redistributing my wealth more. So before Uncle Sam can touch it, I spend it in my own neighborhood, and help my neighbors out. It's almost like I'm in competition with the gov't about who can distribute wealth better.
The thing a lot of people hate is the "hot potato" aspect of taxes. If you get a huge salary, and you have nothing but personal expenses; sorry buddy, but you're getting taxed. The gov't values business expenses.
I mean I like the message u guys are pushing but gathering in front of a bank of America. I think your mad at the wrong people..