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I'm not just talking about company profit sharing or company stock options. Are you completely unaware of the fact that union pension funds and 401k/IRA accounts are the largest institutional investors in the country? Where do you think all that retirement money is invested?
Corporate profits go to shareholders in the form of dividends, direct distributions, and/or higher share prices due to growing/expanding production capabilities. The shareholders are overwhelmingly those who have a union pension or a 401k/IRA account.
Come on, man, this isn't hard to understand.
Are you willing to levy higher taxes on everyone's retirement income in a misguided effort to go after corporate profits?
There is the basic problem. The fact that the upper income level compensation is growing at nearly 200% a year, middle income compensation is flat and has been for decades, shows the problem. That reality will take us directly to 1929, again. I don't think that is good, perhaps you do.
Which takers are you talking about, the 1/3 of US Corporations that make multiple millions yet pay zero taxes but buy a lot of representatives, those takers?
There is no way for a company with millions in taxable income to pay zero taxes.
There is the basic problem. The fact that the upper income level compensation is growing at nearly 200% a year, middle income compensation is flat and has been for decades, shows the problem.
How is taxing workers' retirement income via taxing the corporations in which their retirement funds/plans are invested the solution to that problem, Bob?
You just said it, the majority ruled. That's in everything though
I see you didn't hear Obama talking about this not being a nation of takers today in his speech. Oh well, what more can we expect? Surely Media Matters will be posting what he said and will leave out those things that may make him look bad.
Which takers are you talking about, the 1/3 of US Corporations that make multiple millions yet pay zero taxes but buy a lot of representatives, those takers?
Nice deflection. Yeah.....there's enough welfare and free stuff floating around for everyone it seems, from the biggest corporations to the smallest welfare mother. None of it is right or just or good. All of it is symptomatic of a system that is unsustainable and that will ultimately bankrupt this country.
But deflecting the observation to which you responded, and sidestepping the issue entirely gets people nowhere. Until we stop doing this, we'll just continue to sink deeper in the mud of the pig trough.
Nobody on either side of the aisle has the balls, spine or will to fix any of the problems that caused us to get to this place. It's sickening.
Where do you think the profits go, Bob? Do they not go to the shareholders, aka union pension funds and 401k/IRA retirement accounts?
Are you willing to tax those more?
Corporate profits and stock market wealth are not shared broadly by all Americans. This is an objective fact.
I suggest you educated yourself.
Corporate profits and stock market wealth go to a relatively small percentage of the population. So making this big lie that raising corporate taxes will hurt everyone's retirement plans is garbage.
In fact if corporate profits were widely shared amongst the population there would be far less income and wealth inequality.
See it sounds good to say that people's pensions/401ks are tied to the stock market and corporate profits but the reality is that average person has very very little wealth in the stock market or corporate profits. The reality is that corporate profits and stock market wealth is overwhelmingly owned by a small percentage.
I paid in about $5000 in federal taxes. I have a co worker who has a daughter that is unemployed, has no ambition to work, on welfare, a single mother of 4 children, all have different fathers. She is getting a $4000 refund. How does she get a refund like that? A refund suggests she paid something in.
This is whats wrong with America.
I see things haven't changed in a month.
How do you know what your co-workers earnings or deductions are? Why are you griping only paying $5K in Federal taxes. Are you trying to tell us, your not getting back any parts of a Federal refund
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Oh yes, they do....
