A different take on a key problem in Greece

[lawgator1]

yeah I think the primary R position on corporate taxes is reducing them and reducing loopholes to broaden and equalize the tax base at a lower rate structure.

The argument is that they are too high, but the truth is that they don't actually pay it because of the loopholes.

When the GOP say that they want to close loopholes and drop rates to "stabilize" the rate of taxation or "equalize" in your words the base, what they mean is that they want a code, the effect of which is to overall reduce the taxes paid by big business.

We can't afford it. Corporate coffers (for the largest anyway) are bursting, due in large measure to having pared their workforces down to the the bare minimum. Thus, the ownership are dramatically increasing their personal wealth while the employee class is getting doubly crushed by unemployment and the cost of living.

This is not a class-warfare argument. This is not a fairness argument. This is a common sense argument. You cannot balance the budget solely by cutting the long term entitlement programs that enable the middle class to work for the benefit of the investor/ownership class at the same time that you reduce the taxes on the latter.

The way out of this is to reform entitlement programs for long term solvency, significantly reduce anything discretionary, reduce military spending, and repeal tax breaks for the top income earners.

Share the pain.

 

[droski]

The argument is that they are too high, but the truth is that they don't actually pay it because of the loopholes.
.

any evidence for this ridiculous claim? why are they moving their operations overseas to save taxes if they aren't paying any?

 

[MG1968]

This is not a class-warfare argument. This is not a fairness argument. This is a common sense argument. You cannot balance the budget solely by cutting the long term entitlement programs that enable the middle class to work for the benefit of the investor/ownership class at the same time that you reduce the taxes on the latter.

and yet you turn it into a class warfare argument

 

[BeecherVol]

any evidence for this ridiculous claim? why are they moving their operations overseas to save taxes if they aren't paying any?

Hold up.

You mean that US companies are pulling up/ have pulled up roots to outsourcing work to other countries for no good reason?

 

[lawgator1]

any evidence for this ridiculous claim? why are they moving their operations overseas to save taxes if they aren't paying any?

It's not taxes, its labor costs and cheap infrastructure, imo.

 

[tvolsfan]

and yet you turn it into a class warfare argument

At least he's not quite on Gibbs' level.

 

[gsvol]

Sheesh, the Obama administration is full of tax cheats!

 

[volinbham]

The argument is that they are too high, but the truth is that they don't actually pay it because of the loopholes.

When the GOP say that they want to close loopholes and drop rates to "stabilize" the rate of taxation or "equalize" in your words the base, what they mean is that they want a code, the effect of which is to overall reduce the taxes paid by big business.

We can't afford it. Corporate coffers (for the largest anyway) are bursting, due in large measure to having pared their workforces down to the the bare minimum. Thus, the ownership are dramatically increasing their personal wealth while the employee class is getting doubly crushed by unemployment and the cost of living.

This is not a class-warfare argument. This is not a fairness argument. This is a common sense argument. You cannot balance the budget solely by cutting the long term entitlement programs that enable the middle class to work for the benefit of the investor/ownership class at the same time that you reduce the taxes on the latter.

The way out of this is to reform entitlement programs for long term solvency, significantly reduce anything discretionary, reduce military spending, and repeal tax breaks for the top income earners.

Share the pain.

The Ryan plan specifically removes loopholes while lowering the corp tax rate to eliminate the GE situation.

Raise taxes on corporations - watch the effect. It will be passed through in prices and we will be no better off - maybe worse since even more companies will move HQs overseas and not repatriate profits.

I'd much rather see marginal rates raised on top earners than raising corp. taxes - by a long shot.

 

[CSVol]

you keep arguing there are all these tax loopholes the rich exploit yet you've never listed any of them. talking out of your arse again?

What are the rates for income compared to dividends or capital gains? I highly doubt someone who can show their taxable earnings, regardless of amount, as capital gains is paying anywhere near 40%.

 

[KiffinKiller]

Gs is acting like Obama started the tax problems - notsureifserious.jpg

We have problems at the very base of our infrastructure - blaming it on one man is like being gs...oh wait.

 

[BigPapaVol]

The Ryan plan specifically removes loopholes while lowering the corp tax rate to eliminate the GE situation.

Raise taxes on corporations - watch the effect. It will be passed through in prices and we will be no better off - maybe worse since even more companies will move HQs overseas and not repatriate profits.

I'd much rather see marginal rates raised on top earners than raising corp. taxes - by a long shot.

Gibbs unequivocally proved this wrong.
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[NEO]

It's not taxes, its labor costs and cheap infrastructure, imo.

You're talking two different things though.

Lower skilled jobs are moving over seas mainly to your point above but higher skilled jobs that cannot be shipped are being downsized (1 employee now does the work of two) or funds are not being spent due to taxes.

 

[droski]

It's not taxes, its labor costs and cheap infrastructure, imo.

Then why are some moving to places like ireland where labor costs are high but tax rates are lower than here? The beer?
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[droski]

What are the rates for income compared to dividends or capital gains? I highly doubt someone who can show their taxable earnings, regardless of amount, as capital gains is paying anywhere near 40%.

Raise the taxes on investment income and see the economy torpedo. Not a lot of capital gains the past 10 years anyway
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[CSVol]

Raise the taxes on investment income and see the economy torpedo. Not a lot of capital gains the past 10 years anyway
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What about a rise combined with a reduction in the corporate rate?

 

[NEO]

What about a rise combined with a reduction in the corporate rate?

Who are you going after then? The elderly who are supplementing their income with a few stocks on the side?

The fact is 54% of the working population pays NO tax. All we ever talk about is taxing increases for those making over 65K per year. What about the single kid making 38K? He deserves a tax hike too then?

What we need is a fair tax that is across the board and EVERYONE pays tax. Then get the people who are not working to be working again.

 

[droski]

What about a rise combined with a reduction in the corporate rate?

i'd rather eliminate 1031 exchanges for non owner occupied real estate and eliminate the ridiculous rules that allow hedgefunds and other partnerships to tax their management fee revenue at long term capital gains rates.

 

[CSVol]

i'd rather eliminate 1031 exchanges for non owner occupied real estate and eliminate the ridiculous rules that allow hedgefunds and other partnerships to tax their management fee revenue at long term capital gains rates.

Fair enough. I only ask b/c I caught the end of a discussion regarding tax rates and business expansion. One pundit was making the point that the US rate on corps. is one of the highest in the world and capital gains rates were among the lowest. He posited that a reduction in the corporate rate would do more for encouraging re-investment/expansion by companies than investment by individuals who are taxed at such a low rate.

Who are you going after then? The elderly who are supplementing their income with a few stocks on the side?

The fact is 54% of the working population pays NO tax. All we ever talk about is taxing increases for those making over 65K per year. What about the single kid making 38K? He deserves a tax hike too then?

What we need is a fair tax that is across the board and EVERYONE pays tax. Then get the people who are not working to be working again.

Climb off the ledge; see above.

 

[droski]

Fair enough. I only ask b/c I caught the end of a discussion regarding tax rates and business expansion. One pundit was making the point that the US rate on corps. is one of the highest in the world and capital gains rates were among the lowest. He posited that a reduction in the corporate rate would do more for encouraging re-investment/expansion by companies than investment by individuals who are taxed at such a low rate..

it's really not an apples to apples comparison though. investment money are already taxed before they are invested. if corporate taxes got double taxed than this would be a valid argument.