Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-05-2011, 11:46 AM
 
29,981 posts, read 42,859,282 times
Reputation: 12828

Advertisements

Quote:
Originally Posted by walidm View Post
You use the same road, street and water resources as a billionaire...Is that wrong?

No wealthy individual became wealthy in a vacuum. Think about it.
Elizabeth Warren, is that you?
Reply With Quote Quick reply to this message

 
Old 11-05-2011, 11:47 AM
 
1,568 posts, read 1,548,955 times
Reputation: 414
Quote:
Originally Posted by Colorado Rambler View Post
I understand perfectly that those were legal loop holes and I agree that "tax laws passed by Congress which allow the loopholes and understand both parties have pandered using tax law to get $$ for their campaigns and to make money themselves."

The whole system is corrupt, the corps send congress the cash, and in return congress passes laws with those convenient loop holes and anything else the big financial and corporate interests want.

The INCOME* taxes that the 51% of lower income Americans don't have to pay wouldn't amount to a hill of beans when compared to what Corporate America has weaseled out of in taxes. Congress just winks and turns a blind eye.

Write my rep? Maybe you have great access to your rep. The people in my district don't. I've written my rep letters (polite ones) and never once did I get so much as a form letter in reply. Other people I've spoken with around here got the same result - nothing.

* (They still pay FICA, gasoline taxes, State income tax, etc.. etc,. ad nauseum)
Corporations pay far more in those other taxes than any individuals.
Reply With Quote Quick reply to this message
 
Old 11-05-2011, 11:49 AM
 
475 posts, read 812,640 times
Reputation: 312
Those mean ole corporations how dare they...they provide ZERO jobs and ZERO income to the nation.

Reply With Quote Quick reply to this message
 
Old 11-05-2011, 11:50 AM
 
Location: Sango, TN
24,869 posts, read 24,344,453 times
Reputation: 8672
Quote:
Originally Posted by Colorado Rambler View Post
Since the Supreme Court decided last year that corporations are now people with their rights protected under the 14th Amendment (passed after the Civil War to protect the rights of slaves), corporations should have to obey the laws just like every other person in the US and be held accountable the way every other person in the US is held accountable.

If Corporations don't pay their income tax, the Federal Revenue should seize their property and assets just as they do to a person who refuses to pay taxes. Once upon a time, we all stood equal before the law. Now this "person" called a corporation has become more equal than the rest of us.

- Washington Post

Isn’t it about time we started looking at the real enemy of this country – the huge corporation and financial outfits?


"I believe that banking institutions are more dangerous to our liberties than standing armies,” - Thomas Jefferson.

Its been known for years that this is the case.

Hasn't done any good bitching about it. Most of these corporations pay no taxes because of tax subsidies, energy credits, etc.

So why did GE pay no taxes? Mainly because of their investments in green energy. While Exxon paid no taxes because they manipulate a tax credit meant for smaller oil companies. If a small company drills 10 wells a year, and only 2 produce, they go bankrupt. But the government wants to help them, because they create jobs.

But Exxon can drill thousands of wells a year, and most of them find oil. Yet they get refunded on the wells they dig that don't do any good. They'd make a profit with or without that tax credit. Why?
Reply With Quote Quick reply to this message
 
Old 11-05-2011, 11:52 AM
 
Location: North
97 posts, read 156,625 times
Reputation: 41
Quote:
Originally Posted by Colorado Rambler View Post
Write my rep? Maybe you have great access to your rep. The people in my district don't. I've written my rep letters (polite ones) and never once did I get so much as a form letter in reply. Other people I've spoken with around here got the same result - nothing.
So, why does your representative get reelected?
Reply With Quote Quick reply to this message
 
Old 11-05-2011, 11:54 AM
 
1,568 posts, read 1,548,955 times
Reputation: 414
Quote:
Originally Posted by Memphis1979 View Post
Its been known for years that this is the case.

Hasn't done any good bitching about it. Most of these corporations pay no taxes because of tax subsidies, energy credits, etc.

So why did GE pay no taxes? Mainly because of their investments in green energy. While Exxon paid no taxes because they manipulate a tax credit meant for smaller oil companies. If a small company drills 10 wells a year, and only 2 produce, they go bankrupt. But the government wants to help them, because they create jobs.

But Exxon can drill thousands of wells a year, and most of them find oil. Yet they get refunded on the wells they dig that don't do any good. They'd make a profit with or without that tax credit. Why?
All companies get to deduct business expenses.
Reply With Quote Quick reply to this message
 
Old 11-05-2011, 11:56 AM
 
29,981 posts, read 42,859,282 times
Reputation: 12828
Quote:
Originally Posted by Matt Kim View Post
All companies get to deduct business expenses.
As do all individuals who work as independent contractors, un-incorprated family farmers, etc... .

A fair tax or something similar is the best way to stop politicians from playing with the tax code for political reward. I think the GOP would do well to take this platform and let Harry Reid and his Democrat Senate turn it down.
Reply With Quote Quick reply to this message
 
Old 11-05-2011, 12:01 PM
 
Location: Sango, TN
24,869 posts, read 24,344,453 times
Reputation: 8672
Quote:
Originally Posted by Matt Kim View Post
All companies get to deduct business expenses.
Not the cost of the loss. Essentially its like giving the grocery store money for any bread that goes bad.

Giving large oil companies tax breaks for each well they drill that doesn't produce is stupid. Its subsidizing the cost of oil in this country. The same thing people ***** about solar companies getting.
Reply With Quote Quick reply to this message
 
Old 11-05-2011, 12:06 PM
 
29,981 posts, read 42,859,282 times
Reputation: 12828
Quote:
Originally Posted by Memphis1979 View Post
Not the cost of the loss. Essentially its like giving the grocery store money for any bread that goes bad.

Giving large oil companies tax breaks for each well they drill that doesn't produce is stupid. Its subsidizing the cost of oil in this country. The same thing people ***** about solar companies getting.


You understand individuals may also deduct stock market losses against their Capital Gains to reduce their tax burden as well don't you? How is one any different from the other?
Reply With Quote Quick reply to this message
 
Old 11-05-2011, 12:12 PM
 
Location: Sango, TN
24,869 posts, read 24,344,453 times
Reputation: 8672
Quote:
Originally Posted by lifelongMOgal View Post


You understand individuals may also deduct stock market losses against their Capital Gains to reduce their tax burden as well don't you? How is one any different from the other?
Then why was a specific tax loophole have to be written for this one specific instance?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies

All times are GMT -6. The time now is 03:52 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top