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Old 12-23-2019, 02:24 PM
 
7,656 posts, read 3,367,239 times
Reputation: 4889

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Quote:
Originally Posted by Thatsright19 View Post
These topics always bring out the crazies with their one liner slogans.

It’s tough to come up with a federal income tax cut for the lower brackets because they don’t pay any federal income tax. Their federal income tax bill is already cut to zero and in some cases beyond zero with refundable credits. Welcome to the reason, tax cuts go to the...”rich”. With what I said in mind, it’s also hard to believe your “tax the poor to benefit the wealthy” line.

But hey, you’ve got a one liner. Privatize the profits! Socialize the losses!!
But that slogan is true, companies take advantage of all sorts of public infrastrucutre but are miserly with paying well and hiring often. They try really really hard to off shore and wittle wages down even though they are using and abusing infrastructure while trying to pay nothing.

So while it is a slogan you dont need a 300 page thesis to know that companies are constantly trying to game the system.
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Old 12-23-2019, 02:50 PM
 
1,480 posts, read 540,093 times
Reputation: 4772
Corporate taxes are really a pass-thru tax to consumers and employees.
They should be eliminated.
Only people should pay taxes on income or capital gains.
Correspondingly, corporations should not be granted status as 'individuals' which would - or should - eliminate their large contributions to political parties.
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Old 12-23-2019, 03:09 PM
 
3,008 posts, read 1,968,807 times
Reputation: 6779
Quote:
Originally Posted by PamelaIamela View Post
Corporate taxes are really a pass-thru tax to consumers and employees.
They should be eliminated.
Only people should pay taxes on income or capital gains.
Correspondingly, corporations should not be granted status as 'individuals' which would - or should - eliminate their large contributions to political parties.

Why do people who don’t understand tax comment on tax?

Corporate tax is needed for timing reasons. There’s double taxation because shareholders of profits can put those profits into tax deferred or tax exempt vehicles. Also, political donations aren’t tax deductible and nothing about a corporation’s status as it’s own gives it the ability to pay political contributions. Any form of business structure can, and those structures don’t have “person” status.
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Old 12-23-2019, 03:10 PM
 
3,008 posts, read 1,968,807 times
Reputation: 6779
Quote:
Originally Posted by pittsflyer View Post
Low taxes dont wag the dog but insanely high taxes with write offs do. We used to have a 90% tax rate for revenue over a certian amount BUT if you reinvested you got a write off. But companies dont want to reinvest so they lobby against that. What exactly do they plan to do with all this idol capital against the american people?

Its unnatural to just sit on this much money unless there is some evil brewing (enslave the nation through a complex economic scheme, open warfare against the civilian population? Starve eveyone out.

There is an end game because this is not normal. and its not one thats good for the average joe.
Seek help.
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Old 12-23-2019, 07:02 PM
 
223 posts, read 94,286 times
Reputation: 439
Quote:
Originally Posted by PamelaIamela View Post
Corporate taxes are really a pass-thru tax to consumers and employees.
They should be eliminated.
Only people should pay taxes on income or capital gains.
Correspondingly, corporations should not be granted status as 'individuals' which would - or should - eliminate their large contributions to political parties.



I certainly agree with the bolded. One of the worst Supreme COurt cases ever.
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Old 12-23-2019, 07:34 PM
 
1,850 posts, read 1,497,967 times
Reputation: 1985
Kids, we've gone through this a million times now -- trickle down economics, say it with me: does not work.
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Old 12-23-2019, 09:26 PM
 
1,480 posts, read 540,093 times
Reputation: 4772
Quote:
Originally Posted by Thatsright19 View Post
Why do people who don’t understand tax comment on tax?

Corporate tax is needed for timing reasons. There’s double taxation because shareholders of profits can put those profits into tax deferred or tax exempt vehicles. Also, political donations aren’t tax deductible and nothing about a corporation’s status as it’s own gives it the ability to pay political contributions. Any form of business structure can, and those structures don’t have “person” status.
I am not ignorant to various taxation and economic theories.
You know nothing of my understanding based on a three sentence post.
And I don't care whether corporate political donations are tax deductible or not, but like union donations, should not be allowed.

You don't agree? I don't care.
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Old 12-23-2019, 11:49 PM
 
Location: Las Vegas & San Diego
996 posts, read 172,738 times
Reputation: 902
Quote:
Originally Posted by pittsflyer View Post
Yes but those other countries have powerful unions, lay offs are rare and mcjobs are not as prolific. Those are non-trivial issues.

When everyone is fearful of lay offs constantly and good jobs are rare compared to mcjobs thats a very powerful political motivator.
What BS - union membership is non existent in most of the world and is less than 30% of employment in most of Europe also - (France is 8%) and unions cannot prevent layoffs if that part of the market is poor. GM and Ford just laid off thousands of union members in North America and in Europe. EVERY country has low pay, low skill jobs.

The US is about the only country with a growing economy right now - employment is at 50 year record lows and real wages grew by 5.34% in November according to BLS Data. Wages are growing faster for the lower wage workers and slowest for high wage workers. Data for July 2019 year over year increase;



Good economy means job security for good workers, only marginal workers are worried about jobs in this economy.
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Old 12-24-2019, 12:21 AM
 
Location: Living rent free in your head
32,845 posts, read 14,865,925 times
Reputation: 23634
I think this sums up the Trump tax cuts very nicely:

In 2018, billionaires paid 23% of their income in federal, state, and local taxes, while the average American paid 28%.
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Old 12-24-2019, 01:04 AM
 
Location: Las Vegas & San Diego
996 posts, read 172,738 times
Reputation: 902
Quote:
Originally Posted by PamelaIamela View Post
Corporate taxes are really a pass-thru tax to consumers and employees.
They should be eliminated.
Only people should pay taxes on income or capital gains.
Correspondingly, corporations should not be granted status as 'individuals' which would - or should - eliminate their large contributions to political parties.
If eliminate corporations, then would need to eliminate unions ability to contribute under the same idea of not being individual donors. BTW - most corporations donate to both parties not just Repubs. But many of the new high donor companies are tech companies, mainly to Dems.

Of the 10 largest corporate and group donators, none were primarily to Repubs, 7 were primarily to Dems (Unions) - the 3 that were donating more or less equally were 2 corporations and Realtors group (NAR).

Also most of the large donations from billionaires such as Bloomberg, Steyer and Soros to Dems are actually done through LLC or Partnerships not technically from individuals.

Be careful what you wish for.
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