5 Juicy Tax Breaks That Corporations Enjoy That the Public Can't Touch

[xchrom]

http://www.alternet.org/economy/5-juicy-tax-breaks-corporations-enjoy-public-cant-touch



***SNIP

1. When corporations break the law, they get a tax break
If you forget to feed the meter, or go a little too fast and get a speed camera traffic ticket in the mail, or God forbid fail to pick up after your dog in a public park, when it comes to tax time, forget it – none of these fines for bad behavior are tax deductible.

***SNIP

2. When corporations fall on hard times, the tax code helps makes them whole
When corporations fall on hard times and lose money in a given year, those losses cannot only be used to fully offset any taxes they owe that year, but they are allowed to carry those losses into the future for up to seven years, reducing their taxes when good times return.

***SNIP

3. Many corporations get to choose where in the world to report their income, allowing them to choose a nation with low or no taxes
For American workers, there is little doubt where their income is earned and thus where the taxes are owed. If you are a doctor with an office in Omaha, you can’t pack up your diploma and ship it to a bank vault in the Cayman Islands and tell your patients to mail their payment check to a post office box in the Caribbean nation, explaining that they need to pay for the intellectual property represented by that diploma.

***SNIP

4. Superstorm Sandy devastated millions of American families, but corporations got to deduct the full value of their losses from their taxes
Millions of American families suffered damage to their homes and property last year, from Superstorm Sandy, western fires and other natural disasters. The federal tax code expects human property owners to pick up the full cost of damage for an amount equal to ten percent of the taxpayer’s annual reported income. Beyond the ten percent threshold, any additional losses may be taken as a tax deduction.

[4Q2u2]

1. "WE The Corporations in Order to form"

Corporations are people but people are not people, nor are they Corporations.
We are screwed.

[progressoid]

2. Rec.

[Egalitarian Thug]

3. K&R #5. n/t

[forestpath]

4. K&R