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(1) Calendar year. Tax units that are dependents of other tax units are excluded from the analysis. Administration's upper-income tax proposals are: reinstate the 39.6 percent top rate; reinstate the 36 percent rate for married taxpayers with income over $250,000
($200,000 for singles); reinstate the limitation on itemized deductions and the personal exemption phase-out for married taxpayers with income over $250,000 ($200,000 for singles); impose 20 percent tax rate on capital gains and qualified dividends for taxpayers in the
top two tax brackets.
And thus it makes your arguing against it just as senseless. Your continued defense of corporations is indefensible. By your own words Corporations pass on their tax burdens to consumers and pass their profits to their tax havens outside of U.S. jurisdiction. Yet you continue to argue for even more lenient policies towards them so that they can... ... can what? Create more jobs? That's a laugh and you know it. So do we. So: FAIL. More fool us if we actually help corporations shovel all the loose money in the economy into their world domination war-chest. The elite are 1% of the population. Obama was not elected because 1% of the population thought he was the man for the job. The 1% that are currently out-earning the rest of 99% of the population have aroused a growing hostility from the majority as they thumb their noses at basic nationality and hire across international borders to secure the best labor costs they can. It is difficult to justify the claim that a factory must be re-located where labor is 1/10 the cost of U.S. labor when the CEO of that firm earns in the 20's of millions of dollar/year but this is exactly what many U.S. firms do. You are clearly o.k. with that. I am not.
H
Leisesturm, corporate taxes, even though passed on to customers, DO matter. Multinationals have some choice of where to locate actvity. Those choosing a 35% tax rate jurisdiction instead of a 5 or 15 or 25% jusrisdiction would be at a competitive disadvantage--and would go out of business. America has chased business beyond its borders with its high tax regime.
As for my defense of corporations being indefensible, let me give you some background and context. Perhaps it will be a little more understandable if you see where I am coming from.
Today, I stopped at a corporate establishment to procure food for my family for the week. Other corporations had caused thousands of products to be available to me there. I drove there in a corporate-built vehicle, which has served me well for the years I have owned it. I wore clothes that were produced by a corporation, brushed my teeth and washed my hair with the products of other corporations....in fact, most of the things that I need and want are available to me because corporations supply them. I like many corporations; in fact, I own a small one myself!
Corporations provide the means of living to over 100 million Americans, including a couple that my corporation employs.
There are corporations I do not like. I simply do not do business with them, it being a free country (in many respects).
A huge bounty of goods and services, virtually everthing we could need or want, is supplied to us by corporations. One reason: there is a buck to be made in doing it.
The final part of the miracle is that I, like about 60% of all Americans, actually own a percentage interest in some of those corporations making those bucks at every step of the process in bringing us the goods and services we need and want. My goal is to have my share of earnings from retailers and oil companies and personal care products companies and food companies be sufficient to pay for all my consumption of gas, store goods, pharmaceuticals, etc.
As for the income inequality, it is a matter of concern. For my own part, I have worked hard to be valuable enough to my customers so that I can earn a decent living. If I were not in business, I would be working hard to make myself more valuable to my employer or another employer, by upgrading skills, work habits, attitudes, productivity, or achievement. No one of us can do anything about how the chips are falling overall, but each of us has it within our power to earn a larger fraction of those chips by being more valuable to others.
If you can still see straight after reading the above, here is what we no doubt agree on: the special favors, loopholes, deductions and exemptions in our tax code that have been auctioned off to big shots by both parties for decades should all be rooted out and eliminated. Equal treatment under the law.
Well of course the poster is right for all the world to see and you admitted! People earning over 200K will see an increase in taxes.
Sorry, caught you before you were able to see the light..........
It was a correction of a typo... $200,000 and below will not see a tax increase... Which is what the Republicans are accusing will happen...
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People earning over 200K will see an increase in taxes.
The details....
