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Old 08-20-2019, 09:26 AM
 
67,027 posts, read 30,725,004 times
Reputation: 8771

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Quote:
Originally Posted by TKO View Post
I'm a liberal and I don't want that. I want income tax on the very rich (individuals) raised and all the loopholes they use to avoid paying for their share of the infrastructure they used to make their money, done away with.
What makes you think the rich avoid paying taxes? Even the IRS states that the top 400 taxpayers are paying an average effective federal income tax rate that's 3+ times the effective federal income tax rate the middle class pays:

https://www.irs.gov/pub/irs-soi/14intop400.pdf
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Old 08-20-2019, 09:31 AM
 
Location: OH->FL->NJ
10,285 posts, read 8,213,295 times
Reputation: 4406
Quote:
Originally Posted by TMSRetired View Post
Can you provide some ?
https://www.cheatsheet.com/money-car...om-trump.html/

First link when I googled. "corporations that laid off people"

Not that surprising. Many said exactly what they would do with the money before the tax cut. Stock buy backs and payments to stake holders.

Corps exist to pay only for stake holders and C level execs.
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Old 08-20-2019, 09:41 AM
 
1,659 posts, read 328,716 times
Reputation: 1904
Quote:
Originally Posted by ottomobeale View Post
https://www.cheatsheet.com/money-car...om-trump.html/

First link when I googled. "corporations that laid off people"

Not that surprising. Many said exactly what they would do with the money before the tax cut. Stock buy backs and payments to stake holders.

Corps exist to pay only for stake holders and C level execs.
The tax cuts went into effect 1/2018.
So they would not be realized until taxes were filed in 2019 right ?

If Pfizer announced layoffs 1/2018 that means it had been decided and planned in 2017.
I don't see the connection.

AT&T had a big layoff. That was in the area of DirecTV technicians. Have you seen the numbers for DirecTV lately ? They lost 300,000 subscribers at that time. Wouldn't that result in a surplus of workers ?

I'm not going through each and every one but I have learned that media do not do their jobs anymore to present OBJECTIVE material.

Regarding stock buyback. Pfizer announced 2/17 their buyback..well before those tax cuts.
AT&T has been doing quarterly stock buybacks for over a decade now.
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Old 08-20-2019, 10:10 AM
 
Location: Proxima Centauri
4,904 posts, read 2,038,196 times
Reputation: 5360
Quote:
Originally Posted by InformedConsent View Post
Tax cuts don't add debt. Congressional overspending adds debt.

Were you asleep when Congress was handed down the written version of the tax law with hand written inserts less than 12 hours before the Senate vote?


I still remember Susan Collins and her unconvincing argument in support of the republican tax cuts. It's almost like someone told her that all of her relatives would be fired if she didn't give in.
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Old 08-20-2019, 10:11 AM
 
67,027 posts, read 30,725,004 times
Reputation: 8771
Quote:
Originally Posted by Tonyafd View Post
Were you asleep when Congress was handed the written version of the tax law with hand written inserts less than 12 hours before the Senate vote?

I still remember Susan Collins and her unconvincing argument in support of the republican tax cuts. It's almost like someone told her that all of her relatives would be fired if she didn't give in.
What don't you understand about the fact that tax cuts don't add debt? Congressional overspending does. Cut spending.
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Old 08-20-2019, 10:20 AM
 
2,637 posts, read 897,419 times
Reputation: 1839
Quote:
Originally Posted by PedroMartinez View Post
Notice how so many liberals are so up in arms over the cost of Chinese goods going up and the affect on the cost to consumers; meanwhile, most of them want to increase corporate taxes on US companies which will increase the cost to American consumers.

TDS prevents rational thought.
Fake News. Where is your evidence that "most of them want to increase corporate taxes...."
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Old 08-20-2019, 10:22 AM
 
1,879 posts, read 378,613 times
Reputation: 1662
Quote:
Originally Posted by Leo58 View Post
Fake News. Where is your evidence that "most of them want to increase corporate taxes...."
Well, every Democrat in Congress voted against reducing corporate taxes. Do you need more proof than that?


Good grief.
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Old 08-20-2019, 10:30 AM
 
2,637 posts, read 897,419 times
Reputation: 1839
Quote:
Originally Posted by Frank DeForrest View Post
What is a balanced budget except an excuse to rob and redistribute equal amounts?
And what is wrong with that? If you want "rob" (taxes) to be zero, you'll have to make "redistribute" (spending) also zero. If you can convince the Congress and the American people to cut out all spending, you can have your zero taxes. Until then, we ought to pay for what we've bought, instead of sticking our kids with the bill.
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Old 08-20-2019, 10:37 AM
Status: "Proud American, Always and Forever" (set 20 days ago)
 
Location: DMV Area/NYC/Honolulu
12,559 posts, read 6,538,174 times
Reputation: 12137
Quote:
Originally Posted by James Bond 007 View Post
Notice how so many conservatives are so up in arms over high corporate taxes and their affect on the cost to consumers; meanwhile, most of them want to increase Chinese tariffs on US importers which will increase the cost to American consumers.

Cult 45-ism prevents rational thought.
Only difference is that President Trump's trade war isn't permanent and is meant to ultimately lead to low to no taxes

On the other hand, the left wants to raise taxes on corporations permanently and then (in their Trump Deranged manner) hilariously complains about the supposed (I write "supposed" as China has been eating the tariffs costs, hence we have't been prices increase) impact of the tariffs on the price of goods. Do the Dems think that corporations will NOT pass on corporate tax increases to the consumer?
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Old 08-20-2019, 10:42 AM
 
2,637 posts, read 897,419 times
Reputation: 1839
Quote:
Originally Posted by RowingFiend View Post
Well, every Democrat in Congress voted against reducing corporate taxes. Do you need more proof than that?


Good grief.
That was part of a package that also reduce personal income taxes for the wealthy, and provided loopholes for people like hedge fund operators. A clean corporate tax cut should be revenue neutral, like the one proposed by President Obama in 2012:

"True to this year's State of the Union address, the Obama Administration released a proposal Wednesday that seeks to lower the corporate tax rate from 35 percent to 28 percent while eliminating many loopholes and broadening the base....The President also outlines the global minimum tax on multinationalsí foreign earnings and remove deductions for moving operations abroad," (Committee for a Responsible Budget, 2012)
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