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FDR and the "New Deal" made a depression into "The Great Depression". His attacks on business and wealth put millions of people on the bread lines. His idea of a recovery was WW-II.
I think you are a trifle confused on all points in your post.
You probably realized way to late that your post make ZERO sense. Taxing the wealthy implies taxing their income no matter what form that might ne. Eliminating loopholes and special tax treatment of their income is a must. Taxing all income form for FICA is also a must.
I'm not sure I'd be online confessing a complete ignorance of how the american tax system works if I was you.
Maybe you dont realize that when corporations have zero profits, they pay no taxes, no different from individuals.
When you raise the tax rates really high, you encourage people to not have profits ON PURPOSE..
I think you are a trifle confused on all points in your post.
I don't think he is. Let's examine:
FDR and the "New Deal" made a depression into "The Great Depression".
Okay, this one is True. The economy was recovering the from the stock market crash when Roosevelt took over and instituted the New Deal, whereupon the recovery halted, reversed, and we went back into depression again.
His attacks on business and wealth put millions of people on the bread lines.
Also True. And something Obama should learn. You can't vilify capitalists, then complain that they aren't hiring anyone. Newsflash: they aren't hiring because of the hostile environment you yourself created.
His idea of a recovery was WW-II.
Yep, that's True. I mean, technically, it was the rebuilding after WWII that really got the economy roaring but basically true enough.
but there you go confessing your ignorance of tax policy, yet again.
If a corporation doesn't disperse their profits it would be taxed as income. Either it is taxed as personal income or it is taxed as corporate income
No, you are the one displaying your ignorance of tax policies because one can simply modify accounting practices to show NO PROFIT or roll them over into 1031 tax exchanges TAX FREE.
Quote:
Originally Posted by buzzards27
FYI, I respect my country and always show it that respect by capitalizing it, America. How about you?
Are you trying to distract from the fact you dont know didly squat about tax policies by sitting here babbling crap like this? Whats this have to do with the topic? haha.. the "I dont know accounting so lets discuss spelling" police are back.. hahaa
No, you are the one displaying your ignorance of tax policies because one can simply modify accounting practices to show NO PROFIT or roll them over into 1031 tax exchanges TAX FREE.
Are you trying to distract from the fact you dont know didly squat about tax policies by sitting here babbling crap like this? Whats this have to do with the topic? haha.. the "I dont know accounting so lets discuss spelling" police are back.. hahaa
Nice try, I see you're back to trolling... I'll pass on your nonsense.
If the uber wealthy want to forego income to spite the tax system, enjoy. They ate the ones without their income.
As for corporations hiding income, there are few ways for them to do so that don't have their own consequences. Fact is you full of it, Cash to equalize a transaction cannot be deferred under Code Section 1031 because it is not like-kind.
You should probably take a little time and think thru this kind of..... crap.
I ask you, during 2009, 2010, and 2011, were we living in total bliss and prosperity?? You seem to suggest we did back in the 50s and 60s. We should have been, since 0bama essentially increased all income taxes by well over 100%.
From the chart below, you can see that total revenue to the federal government was $2,303 billion in 2011. Of that, $1,002 billion came from individual income taxes. 0bama borrowed $1,200 billion, which injected into the federal coffers, more then the amount we collected in total income taxes. So, if your Utopia, your Ameri-topia, could be obtained by increasing income taxes, well.... hells bells, we just did essentially that for the last three years. So if all we need to do to live life in prosperity, is to increase tax revenue, then why didn't we see Nirvana these past three years??
This is true. IF we can all obtain a liberal Utopia on earth by raising taxes, because government just needs more money. Well Obama has injected well over $5 trillion in new revenue into the US treasury over the past three years. If giving more money to government was the answer, we sure as hell accomplished that.
If we buy into the liberal line, that if we would simply give government more money, then everything would be grand, wonderful and rosy, then why aren't we living in that liberal Utopia today????
Under Obama, we have given the government more money then it has ever had at any time in world history, and what did it get us??? In the face of that, the liberals still claim that what we need is to raise the income taxes on the top 10% of wage earners. We have done essentially that for over three years, and all we have is misery and despair.
Raising taxes by even 20% on the top 10% will get us about $10-$20 billion a month... maybe. Hells bells, Obama has been borrowing borrowing more then that each week for over three years.
To the OP, you have to be careful how you word that. Going off a percentage, the rich already do pay more in taxes, way more. Conservatives use this arguement all the time; "well the rich already pay such and such a percent in taxes, more than anybody"! Here's where the trick comes. It's the actual TAX CODE that allows the wealthy to "hide" more money. The more you make the more you can hide.
If anybody already said this I apologize. I didn't read all the pages of posts
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