How do you justify this lunacy?

[hndog609]

IF you are saying there should be a flat tax (so let's assume 20% for ease) and therefore companies with more profits pay more taxes -- this is entirely false. The U.S. tax code lives on write-offs, tax shelters, and many other tax avoiding rules (all totally legal). The more money you have, the more shelters are available.

I don't want to speak for BP but for myself and most others I personally know the take on this is that a flat tax would by definition be implemented without any of the write-off/shelters you mention. X% is X%.

On another note, companies don't really pay taxes. They call taxes "government mandated overhead" and they're part of what the consumer pays for any given product.

 

[VolByBirth]

Two things:

1. Your argument about flat taxes is wrong because flat tax proposals include the elimination of the write-offs, shelters, etc., to which you are referring. One of the main purposes of these proposals (in addition, obviously, to making the code more fair) is to simplify the code, including the elimination of the complexity of write-offs, etc.



2. So you are taking the position that Dems in general, and BHO specifically, are not Socialists? Finally, someone stepping up to the plate to make that bold assertion. I guess the debate on that point can finally begin.

Correct. Corps can still write off certain costs, but for the most part you are correct. But by that token, the wealthy would never want a flat tax then.


I'll take that challenge. I don't mind stepping up to the plate on this one. Start if off.

 

[jamesd1628]

So you are taking the position that Dems in general, and BHO specifically, are not Socialists? Finally, someone stepping up to the plate to make that bold assertion. I guess the debate on that point can finally begin.

I'll take that challenge. I don't mind stepping up to the plate on this one. Start if off.

The socialist themes of Obama’s policy: Expand government control; expand government involvement in the lives of individuals; expand government programs that take money from those who earn it and give to those who don’t. I took all of the following from Obama’s own web site (here: http://www.barackobama.com/pdf/ObamaBlueprintForChange.pdf). Here are just of few of his socialist ideas (see web site for many more):

On Healthcare: “My plan begins by covering every American.”

On energy policy: “Obama will implement a cap-and-trade program to reduce greenhouse gas emissions . . . .” “Obama will invest $150 billion over ten years to deploy clean technologies . . . .”

On Social Security: “Obama will preserve Social Security by stopping any efforts to privatize it and working in a bipartisan way to preserve it for future generations.” “Obama believes that the first place to look for ways to strengthen Social Security is the payroll tax system. Currently, the Social Security payroll tax applies to only the first $97,500 a worker makes. Obama supports increasing the maximum amount of earnings covered by Social Security . . . .”

On tax cuts and taxes: “Obama is committed to repealing the Bush tax cuts . . . .” “Obama will increase benefits and expand the number of individuals eligible for EITC [earned income tax credit] . . . .”

On expanding government education: “Obama will launch a Children’s First Agenda that provides care, learning and support to families with children from birth up to five years old.” “Obama will quadruple Early Head Start, increase Head Start funding and improve quality for both.” “Obama will also provide affordable and high-quality child care to ease the burden on working families.”

On government-funded child care: “Obama will double funding for after-school programs, expand the Family Medical Leave Act, provide low-income families with a refundable tax credit to help with their child-care expenses . . . .”

On government-funded job training: “The Obama plan will increase funding for federal workforce training programs and direct these programs to incorporate green technologies training, such as advanced manufacturing and weatherization training . . . . Obama will also create an energy-focused youth jobs program to invest in disconnected and disadvantaged youth.”

On controlling energy production: “Obama will create a federal Renewable Portfolio Standard (RPS) that will require 25 percent of American electricity be derived from renewable sources by 2025 . . . . Obama will also extend the Production Tax Credit . . . .”

On mortgages: “Obama will create a 10 percent universal mortgage credit . . . .”

On expanding the FMLA: “The FMLA covers only certain workers in businesses with 50 or more employees. Obama will expand it to cover businesses with 25 or more employees.”

On Bankruptcy: Obama will “ban executive bonuses for bankrupt companies . . . .”

On other things: “Obama will expand AmeriCorps to 250,000 slots and double the Peace Corps . . . .”

 

[kptvol]

Reminds me of a quote from a movie I saw the other day.

Leon Phelps: Ya know, when a man works hard his entire life enduring hundreds of ladies, many of whom he does not even remember you'd like to think that at the end of the day he will be given a lot of money, without having had to earn it.