I own a very successful international agri-business. I make immense profits but the formulae for determining how much my company pays allows me to make it appear I am making very little profit. What constitutes actual profit and taxable profit is the real issue. Your various explanations (I call it spin) assume that most of your readers are ignorant; which is probably true. Some of us in business are not so duped by your lunatic fringe contentions.

Yes, I also pay taxes on my personal taxable income. I take a salary & a percent of annual net from my business and pay taxes on that personal income. You can call that double taxation but you and I both know that is BS.

The company uses the public infra-structure assets provided by the governing bodies (local, state, federal) just as individuals do. Why should individuals have to pay for that usage while the company pays little or nothing for it, from a “global” perspective?

Regarding my personal income and taxes on it, there are ample legal scenarios which allow me ample deductions and other methods of minimizing my personal tax bill so that, in reality, I never pay more than 10%-12% of my total income in federal taxes.

Based on the ag exemptions and depreciation’s plus other actual costs of doing business, we, as a business, don’t pay nearly what an individual pays for the shared assets provided by the various levels of government (local, state, federal). My ag property tax is a fraction of my personal real estate (home in town, etc,) property tax and is a fraction of the average property owner’s property tax level based on valuations. In other words, I have a bird nest on the ground provided to me by the local, state and federal levels of government; the same is true for those corporations you claim make a 2% profit or show massive losses year in and year out but whose owners and top level employees live the “life of Riley!” Meanwhile, the shareholder/stockholders receive a virtual pittance because the corporations, via the gifts from gov’t’s on high, make it appear they are barely profiting. American Airlines’ “high hogs” don’t live in South Oak Cliff; they live in Highland Park. When is the last time American showed a profit? Showing a loss and actually losing are two different breeds of cat! You know that, surely!!!!

Quiot with the malarkey!!!

More and more people need to be encouraged to start any business so they can take advantage of tax deductions.
Anktia@ Top MBA Colleges