Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

[FlagDUDE08]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Actually, during WWII, the Treasury came up with a somewhat similar proposal, and it was just a few votes away from being passed into law. It is hard to understate how differently our country would have developed since then, it would be more prosperous with a much wider dispersal of wealth had it been enacted.

It was very simple and had clear incentives toward saving and investment.

1) Take everything that comes into your household during the course of a year, from whatever source (income, gift, inheritance, sale of investments, etc.)
2) Deduct the following:
-- deposits into savings and investment accounts
-- asset purchases (e.g., including the principal payments on a mortgage, not the interest).
-- insurance premiums
3) Have graduated tax structure on the difference, similar to structure of income tax today.

One way to look at it would be that all savings and investment would be tax deductible. YAY!!
Another way to frame it would be to call it a "consumption" tax. BOO!!

Either way, the ripple effects would have been enormous, especially when compounded over time:
-- there would be so much more capital investment in business development, equipment, machinery, the kinds of things that promote higher wages because more skills are required
-- our educational system would be so much better because the focus would have been on preparing people to live in that kind of world
-- look how much better it would have been for the environment: no one would want to pay for fancy packaging and disposable stuff that overflows our landfills today.

That doesn't seem all too different from the FairTax system that has been proposed for a few years now.

 

[FlagDUDE08]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

The rich will all turn themselves into passthrough corporations and carried interest.

As if they don't already with 501(c)(3).

 

[FreshFish]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Within a day after the corporate tax cuts pass,
- AT&T gives $1,000 bonus to 200,000 workers.
- Comcast gives $1,000 bonus to 100,000 workers.
- Wells Fargo and Fifth Third Bancorp increase their minimum wage to $15/hour.
- Nexus Services gives all employees 5% raise and looks to hire 200 more workers.

What do these stories have in common?

Explicit mention of the corporate tax cut as the driving motivator.


[sarcasm]I did not realize that everyone who worked for these companies was ultra-wealthy! What a give-away that only the rich will enjoy! How horrible that these nasty selfish corporations would treat their employees so badly! People will die! [/sarcasm]

 

[FlagDUDE08]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

There's one common thread that I see from the whiners on here: They don't actually want to put in the effort to prosper, nor do they recognize the same. They only want the end benefits. Reminds me of the old story about the character that wishes to bake bread, the "friends" don't want to help with any of the related tasks, but then all of a sudden want to eat the bread.

 

[mookie1995]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Within a day after the corporate tax cuts pass,
- AT&T gives $1,000 bonus to 200,000 workers.
- Comcast gives $1,000 bonus to 100,000 workers.
- Wells Fargo and Fifth Third Bancorp increase their minimum wage to $15/hour.
- Nexus Services gives all employees 5% raise and looks to hire 200 more workers.

What do these stories have in common?

Explicit mention of the corporate tax cut as the driving motivator.


[sarcasm]I did not realize that everyone who worked for these companies was ultra-wealthy! What a give-away that only the rich will enjoy! How horrible that these nasty selfish corporations would treat their employees so badly! People will die! [/sarcasm]

maybe i'll go to the movies.... by myself

 

[dxmnkd316]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Within a day after the corporate tax cuts pass,
- AT&T gives $1,000 bonus to 200,000 workers.
- Comcast gives $1,000 bonus to 100,000 workers.
- Wells Fargo and Fifth Third Bancorp increase their minimum wage to $15/hour.
- Nexus Services gives all employees 5% raise and looks to hire 200 more workers.

What do these stories have in common?

Explicit mention of the corporate tax cut as the driving motivator.


[sarcasm]I did not realize that everyone who worked for these companies was ultra-wealthy! What a give-away that only the rich will enjoy! How horrible that these nasty selfish corporations would treat their employees so badly! People will die! [/sarcasm]

How many others announced stock buybacks? How much is the $100 million compared to the total break they will get? How much of that is to suck trump’s schwanztucker so they get their mega mergers approved?

 

[French Rage]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Within a day after the corporate tax cuts pass,
- AT&T gives $1,000 bonus to 200,000 workers.
- Comcast gives $1,000 bonus to 100,000 workers.
- Wells Fargo and Fifth Third Bancorp increase their minimum wage to $15/hour.
- Nexus Services gives all employees 5% raise and looks to hire 200 more workers.

What do these stories have in common?

Explicit mention of the corporate tax cut as the driving motivator.


[sarcasm]I did not realize that everyone who worked for these companies was ultra-wealthy! What a give-away that only the rich will enjoy! How horrible that these nasty selfish corporations would treat their employees so badly! People will die! [/sarcasm]

The same AT&T who's currently running into trouble with their merger and might need some help?

 

[Kepler]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

GOP borrows a trillion and 1 dollars from the public treasury (which will have to be paid back with interest later -- an opportunity cost against all other expenditures), gives a trillion to the rich and 1 dollar to the middle class. Fox News: "GOP delivers on middle class tax relief!"

The additional debt will drown any small (and timed-out) benefit to the middle class. The tax bill is simple theft. Redistribution from the middle to the top which will bankrupt assistance programs for the bottom. It is class warfare.

 

[FreshFish]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

How many others announced stock buybacks? How much is the $100 million compared to the total break they will get? How much of that is to suck trump’s schwanztucker so they get their mega mergers approved?

Search function not working today?


Neither Wells Fargo and Fifth Third are in merger talks, and neither have announced stock buy backs, btw.....



Yeah, it's good news, but not enough good news....interesting retort.

So, if you worked for AT&T or Comcast, would you refuse to cash your bonus check on principal? If you worked for those other three companies, would you refuse the raise?

So when your paycheck goes up next March as a result of reduced federal withholding, are you going so send the difference as voluntary contributions to help fund the US government?

 

[FlagDUDE08]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Search function not working today?

Probably is; the algorithm censored the results to show exactly what was described.

 

[dxmnkd316]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Search function not working today?


Neither Wells Fargo and Fifth Third are in merger talks, and neither have announced stock buy backs, btw.....



Yeah, it's good news, but not enough good news....interesting retort.

So, if you worked for AT&T or Comcast, would you refuse to cash your bonus check on principal? If you worked for those other three companies, would you refuse the raise?

So when your paycheck goes up next March as a result of reduced federal withholding, are you going so send the difference as voluntary contributions to help fund the US government?

My withholding will be reduced next to nothing. And everything else you said was nothing that I had said.

 

[St. Clown]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Search function not working today?


Neither Wells Fargo and Fifth Third are in merger talks, and neither have announced stock buy backs, btw.....



Yeah, it's good news, but not enough good news....interesting retort.

So, if you worked for AT&T or Comcast, would you refuse to cash your bonus check on principal? If you worked for those other three companies, would you refuse the raise?

So when your paycheck goes up next March as a result of reduced federal withholding, are you going so send the difference as voluntary contributions to help fund the US government?

With regards to raising the minimum wage each company has from $13.50/hr to $15.00, will they also be adjusting the pay for those people who are currently earning $24.00/hr?

Wells Fargo is too large to take on any more big scale mergers. They're not likely to run into that concern for a very long time. It can acquire small community banks, but it couldn't acquire a regional bank like TCF or US Bank at this point.

 

[jerphisch]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

It is really sad to see that partisan political passions have so many people wanting the US to fail, merely because it isn't "their side" making things better.


If we don't have a vibrant private sector, there is no hope for our children's future.


As if we didn't have enough examples already in Stalin's Russia, Mao's China, Mugabe's Zimbabwe, or Chavez' Venezuela!


What a thing, to want that kind of a life for your kids, just because you don't like Trump.

Yeah, the private sector was really struggling until this bill came along

Based on AT&Ts 2016 financials this bill would have saved them well over $2B in taxes, so the one time give away of $200M is less than 1/10 of their savings. Really trickling all that money down year after year.

 

[Kepler]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

It is really sad to see that partisan political passions have so many people wanting the US to fail, merely because it isn't "their side" making things better.


If we don't have a vibrant private sector, there is no hope for our children's future.


As if we didn't have enough examples already in Stalin's Russia, Mao's China, Mugabe's Zimbabwe, or Chavez' Venezuela!


What a thing, to want that kind of a life for your kids, just because you don't like Trump.

These examples are all red herrings. Economic death lies on both ditches to the left and the right. The US is perilously perched on the precipice of the right ditch. We have to get back over into the middle of the road where FDR and Eisenhower had us. We are a capitalist, market economy. Nobody wants to change that. We simply want to put the guardrails back up and allow kids who weren't born rich a chance.

 

[BassAle]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

So when your paycheck goes up next March as a result of reduced federal withholding, are you going so send the difference as voluntary contributions to help fund the US government?

I'll probably donate the difference, but not to the US government. I'll donate it to conservation organizations to fight Trump's attacks on our National Monuments.

 

[Kepler]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I've already donated more than I'll get back to various grass roots efforts to win back both chambers and roll all this psychotic sh-t back.

 

[mookie1995]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I've already donated more than I'll get back to various grass roots efforts to win back both chambers and roll all this psychotic sh-t back.

if the D raise taxes on themselves, mookie may lick your cat's arse

 

[trixR4kids]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Within a day after the corporate tax cuts pass,
- AT&T gives $1,000 bonus to 200,000 workers.
- Comcast gives $1,000 bonus to 100,000 workers.
- Wells Fargo and Fifth Third Bancorp increase their minimum wage to $15/hour.
- Nexus Services gives all employees 5% raise and looks to hire 200 more workers.

What do these stories have in common?

Explicit mention of the corporate tax cut as the driving motivator.


[sarcasm]I did not realize that everyone who worked for these companies was ultra-wealthy! What a give-away that only the rich will enjoy! How horrible that these nasty selfish corporations would treat their employees so badly! People will die! [/sarcasm]

$1000 bonus lmao, something they probably gave their employees in previous years. Let me know when they actually pay everyone a living wage.

 

[Kepler]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

if the D raise taxes on themselves, mookie may lick your cat's arse

She'll like that.

 

[board]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

We give a wide berth in these threads because people know what they're getting into by posting in here. However, leave the personal stuff - particularly about kids - at the door.