Category: Business

Corporate Tax Rate And What They Really Pay

Corporate Tax Rate And What They Really Pay — The corporate income tax rate is 35 percent in the United States and is considered the highest in the world. The Government Accountability Office, however, has found that U.S. corporations with at least $10 million in assets paid an average effective federal tax rate of just 12.6 percent.

Who’d thunk it?

The reason of course is the loopholes and gimmicks that can be found by those able to afford high-powered accounts and lawyers.

Did you know that the most hip, liberal, “progressive”, “do no evil”
Democrat Party-supporting firms are among the worst offenders?

I’da thunk that.

Now some will point out that only people pay taxes not corporations, and that is basically true. Still, those businesses that  try to do the right thing and wish to follow the law should not be at a disadvantage to those that don’t.

Hat tip PJmedia.com

 

Corporate Tax Rate And What They Really Pay

NSA Revelations Boost DuckDuckGo

DuckDuckGo, a search engine competing with Google and Bing that was all but unknown two weeks ago, is getting a big boost from the revelations that the Obama administration has been in cahoots with those corporate one-percenters at Google/Microsoft/Facebook etc. to learn the web histories of just about everybody in America.

DDG boasts that it keeps no records of personal information of those making searches hence  authorities have nothing to find in the event they should be subpoenaed. It says its revenue is from those paying for keywords in searches.

CEO Gabriel Weinberg explains it here.

The engine can be found  here.  It’s easy to make it the default with Firefox. One suspects, though, not so much with Chrome or Safari.

NSA Revelations Boost DuckDuckGo

NSA Revelations Boost DuckDuckGo

Contractors And Philadelphia Permits

Contractors And Philadelphia Permits — Just had an interesting conversation with a contractor that segued from the fatal June 5 demolition gone bad in Philadelphia to his recent experience in trying to get a permit in the city.

He noted that he waited hours in line to be told the work had to be approved by the planning commission first despite the planning commission telling him otherwise. He went back to his clients who told them they never bothered with permits when doing improvements.

He said “expeditors” in the city get paid up to $25,000 to make speed up the process when necessary.

So those feeling some hate towards the developer might be wise to direct at least a little in the direction of the inherent corruption of the city’s government.

We will note that the city did not force Richard Basciano, known one-time as the “porn king of Times Square” to hire a stoner with a long rap sheet to run the backhoe.

Contractors And Philadelphia Permits

Contractors And Philadelphia Permits

Things Bad In Europe

Things Bad In Europe — eMarketer.com is reporting that a tough European economy has lowered expectations for the world ad market.

E For Exporter

Sen. Pat Toomey (R-Pa.) has announced that Gary Carver, CEO of Carver International, Inc., has received a 2013 President’s “E” Award which recognizes companies for making a “significant contribution to increasing American exports.”

Carver International, an international freight forwarder based in Erie, is one of 57 U.S. companies being honored this year.

Gary Carver E For Exporter

Manufacturing Sharpest Drop In 4 Years

Manufacturing Sharpest Drop In 4 Years — The Institute for Supply Management’s factory index fell to 49 from last month’s 50.7, the Tempe, Arizona-based group reported today.

It was the fastest manufacturing drop in four years shocking analysts.

Hip, hip hooray to Philadelphia’s  Janney Montgomery Scott LLC, whose fixed income strategist Guy LeBas was the only one to call it right.

This news is also likely to shock those at The Philadelphia Inquirer for those few still reading it.

Manufacturing Sharpest Drop In 4 Years

35 percent of moms use a tablet

About 35 percent of moms use a tablet or mobile phone daily in making shopping decisions.

Hat tip eMarketer.com

35 percent of moms use a tablet

Gas Lines Win-Win For All

Gas Lines Win-Win For All — With the Marcellus Shale gas boom occurring some have been moaning about the cost of building mains which has prompted stories in Philadelphia’s “only the government can do good” propaganda sheet, and causing saliva to start dripping from the jaws of the wolves who rule us as they see another chance to spend our money and increase their power.

For instance State Sen. Dominic Pileggi (R-9) is co-sponsoring a bill to require utilities to create plans to extend their gas-distribution
systems. A companion bill would provide $15 million our money to defray the costs of this.

How about the state just stay out of it?

In Tredyffrin Township in Chesco it has been calculated that a neighborhood at a cost of $6,400 per home could bring in a gas main causing a $3,500 annual savings per home to the  heating bills.

Reader Tom C notes that   a smart local bank confident of undue government interference would be more than willing to solicit  loans to each household with an assignment of 75 percent of the savings. The loan would pay off in less than four years with a 8 percent interest rate. Everybody wins and the rest of us don’t have to have our money forcibly taken from us.

Gas Lines Win-Win For All

Delaware Loophole End Passed By Pa. House

Delaware Loophole End Passed By Pa. House — The State House passed legislation last week to close the Delaware Loophole and implement comprehensive business tax reforms for Pennsylvania job creators, reports  Rep. Jim Cox (R-129).

House Bill 440 would close the loophole by targeting specific transactions that some businesses use for the sole purpose of avoiding taxation in the Commonwealth.

The bill also includes several additional tax reforms, including reducing the Corporate Net Income (CNI) Tax rate to 6.99 percent and uncapping the Net Operating Loss (NOL) deductions businesses may take. In addition, the bill would support Pennsylvania’s small businesses, encourage new investments in existing businesses and promote the development of new start-up companies.

All of these reforms seek to make Pennsylvania a more competitive and attractive place to do business.

The bill now heads to the Senate for consideration.

Delaware Loophole End Passed By Pa. House

Record Low Self-Employed Americans

Record Low Self-Employed Americans  — Reader Tom C tells us that the percentage of Americans that are working for themselves has never been lower in the history of the United States with only about 7 percent of non-farm workers being self-employed.

 

Record Low Self-Employed Americans