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.
I disagree. Corporations shouldn't bear the brunt of taxes, but rather its owners and its employees.
Corporate taxes are very much a toll, passed on to the consumer in the form of higher prices for goods and services. Its better to focus on personal and labor tax policy (closing loop holes) – the ultimate end users.
Why should I pay more taxes just because I work for corporation X ? You get more taxes automatically as I earn more in wages.
"Over the last 30-40 years the burden of income tax has shifted FROM corporations to individuals and among individuals, from the richest, to all the rest of us."
"If we taxed the corporations as we once did and we taxed the rich as we once did, most of our deficit would disappear."
Which is a clue to where it came from.
Quote:
Originally Posted by Opin_Yunated
Corporations should not be taxed. Investment income should be taxed.
Yes, the rich have been making out like bandits. Progressive taxation reduces inequality. Empirically it holds up to the tests.
the top 1% take in 19% of the income, and pay 37% of the taxes. the top ten percent take in about 40% of the income and pay 70% of the taxes, the top 50% pay 97% of the taxes collected by the IRS. so you might want to recheck you figures about what the rich pay before making statements like the rich need to pay more. how much mor4e can they pay?
and by the way investment income IS taxed.
Quote:
Originally Posted by Spaten_Drinker
Businesses don't pay taxes. People pay taxes. Any increase in a business expenses will be transferred to the consumer in higher prices.
very true, too bad too many people do not understand this.
Corporations shouldn't bear the brunt of taxes, but rather its owners and its employees.
Corporate taxes are very much a toll, passed on to the consumer in the form of higher prices for goods and services. Its better to focus on personal and labor tax policy (closing loop holes) – the ultimate end users.
but you forget where the corporations get their money. they get it from the individuals that frequent those corporations, and businesses in general. realize that businesses are just the conduit by which employees and government collect money from the customers of a business. so in essence, taxing a business is technically double taxation and the government is taxing money that has already been taxed, several times.
the top 1% take in 19% of the income, and pay 37% of the taxes. the top ten percent take in about 40% of the income and pay 70% of the taxes, the top 50% pay 97% of the taxes collected by the IRS. so you might want to recheck you figures about what the rich pay before making statements like the rich need to pay more. how much mor4e can they pay?
Ok, that wasn't my argument, but continue with your strawman.
Progressive taxation is to reduce inequality; not raise revenue. The Federal government doesn't need tax revenue to operate.
Quote:
Originally Posted by rbohm
and by the way investment income IS taxed.
Not at the same percentage as labor income. I should have been more clear. Investment income should not have favorable tax treatment compared to labor.
Quote:
Originally Posted by rbohm
very true, too bad too many people do not understand this.
I said Corporations should not be taxed... but go ahead and portray my argument as otherwise.
"Over the last 30-40 years the burden of income tax has shifted FROM corporations to individuals and among individuals, from the richest, to all the rest of us."
The One Cent Solution is beautifully simple: If the government cuts one cent out of every dollar of its total spending (excluding interest payments) each year for five years, and then caps overall federal spending at 18 percent of national income from then on, we can:
Reduce federal spending by $7.5 trillion over 10 years.
The One Cent Solution is beautifully simple: If the government cuts one cent out of every dollar of its total spending (excluding interest payments) each year for five years, and then caps overall federal spending at 18 percent of national income from then on, we can:
Reduce federal spending by $7.5 trillion over 10 years.
Balance the budget by 2019."
...so you want a recession?
Balance the budget = prepare for a recession.
GDP = Federal Spending + Private Sector Investment & Consumption + Net Exports
What happens when Federal Spending is 0 in that equation?
Yep, government wants to raise taxes of course (for everyone). Never ever believe you are safe from the government grab.
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.
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.
You get more taxes automatically as I earn more in wages.
