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Corporations don't pay the corporate tax. Their customers/clients do as it's included in the pricing formula. End user/consumer always pays.
As far as the different income groups' vastly different effective federal income tax rates they pay (to which I linked)? That's the actual data. Those are the average effective federal income tax rates that those who are in those income groups DO pay. The IRS publishes analyses of 1040 data every year.
Pore over the actual raw data, too. Latest published IRS US 1040 tax return data:
The Democrats CONSTANTLY lie to their voter base about which income groups pay what effective federal income tax rates because they count on their voter base being too under-informed to know any better, or just simply bad at math.
But where is the information that says the consumers are the ones who pay the tax? What you linked states that corporations are taxed on the profits that they make, but it doesn’t mention anything about pricing formula (in the corporate tax section). If it’s not a corporation then the company seems to be taxed on the income of the shareholders.
And when I mentioned media talking about it, I’m not referring to news stations that report every day news, but sites that are supposed to discuss business, economics, investments such as Forbes;
And yes this article does point out that corporations in the U.S are already taxed much more than anywhere in the world and that’s why they go through all these situations to try and pay less, but again it seems to point that corporations are supposed to pay taxes, which confuses me since you keep stating that they don’t, that it’s the consumers through set up based on a pricing formula, but where are you getting that information from?
But where is the information that says the consumers are the ones who pay the tax? What you linked states that corporations are taxed on the profits that they make, but it doesn’t mention anything about pricing formula (in the corporate tax section). If it’s not a corporation then the company seems to be taxed on the income of the shareholders.
Econ 101. A short excerpt:
Quote:
Section 1: Pricing terms
Overhead expenses
All costs found on the income statement except for direct labor, direct materials, and costs attributable to outside subcontractors that can be billed directly to a customer’s account. Overhead expenses are absorbed by the business and factored into the selling price as a percentage of the direct labor cost. They include indirect costs such as accounting, advertising, depreciation, indirect labor, insurance, interest, legal fees, rent, repairs, supplies, taxes, telephone, travel and utilities.
Guess why even the bottom 40%, which on average has a negative effective federal income tax rate, pay at least some corporate tax.
Quote:
And when I mentioned media talking about it, I’m not referring to news stations that report every day news, but sites that are supposed to discuss business, economics, investments such as Forbes;
And yes this article does point out that corporations in the U.S are already taxed much more than anywhere in the world and that’s why they go through all these situations to try and pay less, but again it seems to point that corporations are supposed to pay taxes, which confuses me since you keep stating that they don’t, that it’s the consumers through set up based on a pricing formula, but where are you getting that information from?
Like I said... Econ 101. Taxes are an overhead expense and as such are included in the goods/services pricing formula.
Wealthy people hogging all the wealth is a HUGE problem, so what if say there was a limit, where they earned say 120K which is MORE than enough to live pretty comfortably, no one really needs anymore than that, and every cent they earned afterwards was taken and invested in schools, education, healthcare etc.? No one on the planet needs huge fancy Yachts, dozens of sports cars, huge mansions etc. etc. all the money greedy wealthy people waste on such garbage would be far better spent on helping poor people, helping sick people and the like.
I like my two homes and my boat. Made smart investments and lived within our means. Now we're set for retirement.
Wealthy people hogging all the wealth is a HUGE problem, so what if say there was a limit, where they earned say 120K which is MORE than enough to live pretty comfortably, no one really needs anymore than that, and every cent they earned afterwards was taken and invested in schools, education, healthcare etc.? No one on the planet needs huge fancy Yachts, dozens of sports cars, huge mansions etc. etc. all the money greedy wealthy people waste on such garbage would be far better spent on helping poor people, helping sick people and the like.
First, "what if games" are waste of time.
"Wealthy people hogging all the wealth is a HUGE problem,"
You are grossly mis-informed.The rest is just pure JEALOUSY.
Funny how many of the same people making these kinds of asinine, juvenile claims are THE SAME ONES who complaining about a lack of jobs..
Hey "genius". Where do YOU THINK the JOBS COME FROM?
Who builds or re-models all those EXTRA homes, yachts, the piers to keep them, the marinas who employ ALL those people?. Where does all the material come from, Santa Claus"?
You have ZERO of clue how much they put BACK into society and the EMPLOYEES they are responsible for having jobs.
Speaking of jobs. What is YOUR job? Maybe you DOn'T NEED IT!
We are a consumer society and those "evil" wealthy folks with their "fancy Yachts, dozens of sports cars, huge mansions etc. etc" CONSUME. Therefore THEY are probably putting MORE money into the economy, "trickle down", then most of the poor put together. in FACT they are COSTING us and NOT contributing to the cost. Many get a "refund", EITC, even though they paid NOTHING in taxes.
"no one really needs...." Who cares about what you think others NEED?
Do ypu NEED the internet in your home" Do you NEED a computer? Do you NEED a smart phone? Do you NEED more then just bread and milk? Do you live in a tent? Do you EVER go out for dinner?
You DON'T NEED ANY of those.
Those socialist teachers you had in your life really did a JOB on you!
Last edited by Quick Enough; 05-04-2019 at 07:58 AM..
No, but there should be better wages. As for the taxes, I agree that the richer you are the more you should be taxed. However, there should be better ranks. For example, if you make less than 10 million you should only be taxed 15%. If you make 100 million you should be taxed 25%, if you make 500 million you should be taxed 35%, a billion+ should be taxed 45% and loop holes should be closed because it’s ridiculous that certain companies like Netflix and Amazon payed $0 in taxes even though they make billions, while the low wage workers and middle class had to pay their share.
"No, but there should be better wages" START your OWN business and pay WHAT YOU WANT. Or are you not "smart" enough to do so? Or too chicken to take the RISK?
I love how so many "EXPERTS" ALWAYS have advise for those that do things, they wouldn't DREAM of doing themselves?
Economic rent-seeking distorts the idea that "wealth is not finite". When the rewards for increasing one's 'slice of the pie' are greater than those for increasing the size of the pie:
THE 1 PERCENT’S PROBLEM
Why won’t America’s 1 percent—such as the six Walmart heirs, whose wealth equals that of the entire bottom 30 percent—be a bit more . . . selfish? As the widening financial divide cripples the U.S. economy, even those at the top will pay a steep price.
"So, no: there’s little debate over the basic fact of widening inequality. The debate is over its meaning. From the right, you sometimes hear the argument made that inequality is basically a good thing: as the rich increasingly benefit, so does everyone else. This argument is false: while the rich have been growing richer, most Americans (and not just those at the bottom) have been unable to maintain their standard of living, let alone to keep pace. A typical full-time male worker receives the same income today he did a third of a century ago."
I thought Vanity Fair was for vain people and NOT a serious "political" publication!
"Why won’t America’s 1 percent—such as the six Walmart heirs, whose wealth equals that of the entire bottom 30 percent—be a bit more . . . selfish?"
Oh, wait, I found it, Looks like he dos NOT PRACTICE what he PREACHES! "SELFISH, I guess!
"Roger Lynch salary
"Mr. Lynch, a veteran of TV and internet businesses, was well compensated at Pandora, receiving roughly $12.7 million in salary, stock awards and bonuses in 2017.Apr 4, 2019"
Wealthy people hogging all the wealth is a HUGE problem, so what if say there was a limit, where they earned say 120K which is MORE than enough to live pretty comfortably, no one really needs anymore than that, and every cent they earned afterwards was taken and invested in schools, education, healthcare etc.? No one on the planet needs huge fancy Yachts, dozens of sports cars, huge mansions etc. etc. all the money greedy wealthy people waste on such garbage would be far better spent on helping poor people, helping sick people and the like.
Somebody's gotta' make, market and sell all that stuff. That means jobs for people to feed their families and put a roof over their head. Or would you prefer that the wealthy just stop spending their money and hoard it under their mattress? This doesn't even take into consideration all of the products that those who are employed by those industries buy. It would be a chain reaction of poverty and despair if the wealthy stopped spending their money on Yachts, dozens of sports cars, huge mansions etc. etc.
Or do you prefer that the government which is a giant cesspool of corruption unto itself confiscate all of the wealth so that the greedy corrupt politicians become wealthy? As in countries such as Venezuela.
Wealthy people hogging all the wealth is a HUGE problem, so what if say there was a limit, where they earned say 120K which is MORE than enough to live pretty comfortably, no one really needs anymore than that, and every cent they earned afterwards was taken and invested in schools, education, healthcare etc.? No one on the planet needs huge fancy Yachts, dozens of sports cars, huge mansions etc. etc. all the money greedy wealthy people waste on such garbage would be far better spent on helping poor people, helping sick people and the like.
As someone who used to make substantially more than your $120K, I'd of quit my job and taken something with far less responsibility, stress, and hours that only paid $120K, a job where I could go on vacation without having the company cell phone and laptop with me all the time, a job where I could spend the weekends relaxing without the phone & laptop, a job that didn't carry with it sleepless nights knowing how many people's livelihoods I was responsible for. That's what I'd do. Good luck finding someone to take my former (am retired now) very high paying job for only $120K.
Wealthy people hogging all the wealth is a HUGE problem, so what if say there was a limit, where they earned say 120K which is MORE than enough to live pretty comfortably, no one really needs anymore than that, and every cent they earned afterwards was taken and invested in schools, education, healthcare etc.? No one on the planet needs huge fancy Yachts, dozens of sports cars, huge mansions etc. etc. all the money greedy wealthy people waste on such garbage would be far better spent on helping poor people, helping sick people and the like.
In other words, they keep working, but YOU'VE decided that, instead of keeping what they've earned, they only get to take home what YOU'VE decided they "need." I see.
Newsflash: Lincoln freed the slaves. All of 'em.
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