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RE: When Corporations pay no Income Tax its called Capi... - 11/3/2011 8:12:33 PM   
erieangel


Posts: 2237
Joined: 6/19/2011
Status: offline 		I used to be for a flat tax, until I researched Cain's 999 plan.  A 9% income tax on me would amount to over $1,000 more than I pay now (I don't live below the poverty line, but damn near close to it) but will actually lower the tax liability of a millionaire. In addition, it would give me a 9% tax on food where I pay none now and increase all other sales taxes to 15%.   How is that fair?  We should go back to the progressive rates that have worked in the past.  But which ones?  Clinton's?  The job market wasn't that bad, though most jobs available were in the service sector.  Reagan's?  Republicans don't like to admit it, but he actually raised taxes on the very wealthy something like 11 times.  How about Eisenhower's?  Eisenhower's top marginal tax rate of 90+% actually spurred massive growth because by expanding their businesses and thereby putting to work, business owners lowered their tax liability.  Today's taxes are so low there is no incentive for a business owner to expand and create jobs. 

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RE: When Corporations pay no Income Tax its called Capi... - 11/3/2011 9:12:06 PM   
tazzygirl


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Status: offline 		erie, Cain's plan isnt a flat tax.

Not to mention.... state taxes are apples,,, federal taxes are oranges... dont confuse the two... or was it the other way around... not sure, someone should ask Herman again.

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RE: When Corporations pay no Income Tax its called Capi... - 11/3/2011 9:20:42 PM   
kdsub


Posts: 12180
Joined: 8/16/2007
Status: offline 		Yep... those that use loop holes to get out of paying taxes are crooks in my view.

Ron's view was rather than raise taxes he would get revenue by closing loop holes... I believe closing loop holes should be done first and if this does not help enough with paying the bills we should then raise taxes.

We must pay our bills period....

Butch

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RE: When Corporations pay no Income Tax its called Capi... - 11/3/2011 9:26:49 PM   
MrRodgers


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quote:

ORIGINAL: tazzygirl

erie, Cain's plan isnt a flat tax.

Not to mention.... state taxes are apples,,, federal taxes are oranges... dont confuse the two... or was it the other way around... not sure, someone should ask Herman again.

The worse part of Cain's plan is a capital gains and carried interest tax of...Zero and that's saying something. That would be even more immoral than the rate now and for obvious reasons, will...increase un-employment and reduce GDP.

If that passed I'd sell the company as that is what the tax code would favor, with no fed tax plus lay off everybody as required and go make my living on capital gains alone by just buying and selling anything and pay no (zero) fed. taxes. Bring it on Herman.

The dogma of the repubs now it seems, is that they simply don't want to pay any taxes. Oh they know govt. needs taxes to operate, they just don't want to pay any...somebody else can instead.

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RE: When Corporations pay no Income Tax its called Capi... - 11/3/2011 9:35:40 PM   
cloudboy


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If dividends are issued, those get taxed.

Globalism raises important questions about tax policies and stimulating the US economy. 8 years of the BUSH tax cuts have not helped the US either grow its economy, boost the stock market, or raise employment. I think this is because the surplus is invested abroad and the only beneficiaries would be corporate stockholders. BUT, even they have suffered as skewed wealth distribution has helped create a demand crisis and general recession.

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RE: When Corporations pay no Income Tax its called Capi... - 11/3/2011 10:33:13 PM   
SternSkipper


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quote:


No, its called government interfering with the markets.


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RE: When Corporations pay no Income Tax its called Capi... - 11/3/2011 11:23:36 PM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
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quote:

ORIGINAL: cloudboy


If dividends are issued, those get taxed.

Globalism raises important questions about tax policies and stimulating the US economy. 8 years of the BUSH tax cuts have not helped the US either grow its economy, boost the stock market, or raise employment. I think this is because the surplus is invested abroad and the only beneficiaries would be corporate stockholders. BUT, even they have suffered as skewed wealth distribution has helped create a demand crisis and general recession.

Stock dividends are now taxed at 15% and that would come down to 9% under Cain. The US surplus created by the Clinton admin. was used to buy back our fed. debt. As patriotic as our corp. leaders are, they sit on nearly a $trillion of profits overseas and keep it there because they'd actually owe a tax on it.

That money is used if at all...to purchase from overseas, further negating any US stimulation. The regulations and tax ruse has been used for 50 years and has never seriously impacted profits, just look at the numbers.

Globalization will in the future, be tax free for the richest where all taxes will be paid by labor and broad consumption. That's what labor is there for, profits in which labor does not share and pay the taxes in which...the rich don't share.

The bold is interesting in that even George Will writes that he sees what's happening, the US middle class is getting bigger. Assuming yes, that in fact fewer poor are getting poorer as they are already quite poor but the top 20% are getting laid off en mass as well and losing homes too and many wake up some morning and find themselves...only middle class.

< Message edited by MrRodgers -- 11/3/2011 11:30:15 PM >

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RE: When Corporations pay no Income Tax its called Capi... - 11/4/2011 9:19:12 PM   
Masta808


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Joined: 1/6/2011
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quote:

ORIGINAL: MrRodgers
quote:

ORIGINAL: Masta808

Freddie Mac reports Q3 loss, asks for $6B in tax payer money.

This is called capitalism. The Executives got $12 million in bonuses last year I wonder how much they will get this year. With all their hard work they deserve it. Its not their fault that they are posting a lost, its the 99% fault that they are not buying house and creating more mortgages. The government needs to bail them out so we can keep the mortgages market working. Its not socializing the loses and privatizing the wealth at all even though the government will not make a profit from such a deal and Freddie Mac will give out bonuses again. Its Obama fault, this more of his TARP bullshit that he did before.


Except of course that the whole mortgage fiasco and financial meltdown including TARP, was strictly a Bush and in general...a republican creation.

The bonuses are merely another simple reflection of the obvious immorality of capitalism. (moneyism) These govt. insurance(s) or protections are socializing risk and now at very high taxpayer costs obviously protecting private wealth. Remember the phrase 'moral hazard ?' We've been living it for 80 years.

Do not go into govt. mortgage warehousing which exists to protect the investor in land the home builder, which Fannie has done since 1938.

Otherwise, why is the fed govt. in the business of guaranteeing anything like a $700,000+ mortgage ? Obvious.


Blah blah. It worked, the 1% got theirs. Ayn Rand, bitch, who cares if it didnt work for everyone. If it works for me then too bad for everyone else. They just didnt work hard enough, and it doesnt matter that the rules  laws were in the 1% favor.  Life isnt fair deal with it.

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RE: When Corporations pay no Income Tax its called Capi... - 11/5/2011 7:19:38 AM   
kalikshama


Posts: 14805
Joined: 8/8/2010
Status: offline 		"I again recommend a law prohibiting all corporations from contributing to the campaign expenses of any party. Such a bill has already passed one House of Congress. Let individuals contribute as they desire; but let us prohibit in effective fashion all corporations from making contributions for any political purpose, directly or indirectly."


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