Re: Obama XIII: It's all Bush's fault.
I really hate to admit it, but deep down, I'm just one h e ll of a nice guy.
I really hate to admit it, but deep down, I'm just one h e ll of a nice guy.
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walrus
Wind up workin' in a gas station
Re: Obama XIII: It's all Bush's fault.
Don't you know money is filthy?, I wouldn't put my mouth on any money but whatever floats your boat.
Don't you know money is filthy?, I wouldn't put my mouth on any money but whatever floats your boat.
Re: Obama XIII: It's all Bush's fault.
Only somebody without money would consider it filthy. Personally I sleep naked in a bed of hundred dollar bills, then I go spend them at local businesses. You do know I tend to vacation in Maine now and then, right?
Only somebody without money would consider it filthy. Personally I sleep naked in a bed of hundred dollar bills, then I go spend them at local businesses. You do know I tend to vacation in Maine now and then, right?
Re: Obama XIII: It's all Bush's fault.
The dollar amount doesn't matter unless it's in context of percentage of your income. I've seen high 6 figure salaries brag about the same thing, but according to most lefties, that's not enough. The better question is how much is it okay to keep versus give away.
Hey I donate a grand a year to charity. Since you're asking, how about yourself?
That's called "putting your money where your mouth is".
The dollar amount doesn't matter unless it's in context of percentage of your income. I've seen high 6 figure salaries brag about the same thing, but according to most lefties, that's not enough. The better question is how much is it okay to keep versus give away.
Shirtless Guy
Old Dirty Basterd
Re: Obama XIII: It's all Bush's fault.
That sounds great in theory, but the bigger problem is that people are getting back way more than they ever paid into the system because of inflation increases to the distribution. I visited my parents one weekend and met up with many of their friends for a fish fry and one of the older guys was giving me crap about how he didn't get an increase in his SS check this year and I laughed because its not like he paid in any point to cover this increase. I gave him crap about it and he gave me some bs about him being entitled to it..that pretty much sums up 80% of our problems with SS or anything else that involves the government and distributing money.
walrus
Wind up workin' in a gas station
Re: Obama XIII: It's all Bush's fault.
You, naked and in Maine are thoughts I don't want to have
You, naked and in Maine are thoughts I don't want to have
Re: Obama XIII: It's all Bush's fault.
Look on the bright side. Every time you get change from a cash register in Maine you'll be getting a little bit of me along with the currency. Who could possibly have a problem with that?
You, naked and in Maine are thoughts I don't want to have
Look on the bright side. Every time you get change from a cash register in Maine you'll be getting a little bit of me along with the currency. Who could possibly have a problem with that?
ScottM
**** it feels good to be a bankster
Re: Obama XIII: It's all Bush's fault.
One person's "loophole" is another's "exemption" or "deduction" for say, mortgage interest, charity/non-profit deductions, dependent credits, Earned Income Tax Credit, loss carry forward, R&D expenses, etc. To make things even more interesting, Congress leaves much of the heavy lifting to IRS personnel who issue Private Letter Rulings, rules, regulations, intrepretations, etc. Therein will lie some of your "loopholes", and you can throw in tax court and federal court decisions as well. To say you're going to go after "loopholes", rather than examining the overall structure of tax law is ignoring how it's made.
One person's "loophole" is another's "exemption" or "deduction" for say, mortgage interest, charity/non-profit deductions, dependent credits, Earned Income Tax Credit, loss carry forward, R&D expenses, etc. To make things even more interesting, Congress leaves much of the heavy lifting to IRS personnel who issue Private Letter Rulings, rules, regulations, intrepretations, etc. Therein will lie some of your "loopholes", and you can throw in tax court and federal court decisions as well. To say you're going to go after "loopholes", rather than examining the overall structure of tax law is ignoring how it's made.
Re: Obama XIII: It's all Bush's fault.
You're right. they paid $15billion income taxes (43%) but it's all to other countries and none to USA federal government.
You're right. they paid $15billion income taxes (43%) but it's all to other countries and none to USA federal government.
Re: Obama XIII: It's all Bush's fault.
I believe the 2/3 (66%) is from USA accountability office report GAO. it makes perfect sense. R&D companies like biotech and drugs lose money constantly. cyclical industry like semi-conductors pay 0 tax (tax credits) by losing money in the bust cycle and pay low taxes in the boom cycle (use tax credits). And finance companies got into that category recently as shown by GE capital.
The report was about GE (general electric) paying 0 USA federal income tax ($2billion tax credit) because of GE financial capital portion of the company. IE the worst financial crisis since the great depression of 2008-2009. Even though company made $11billion Net profit they paid 0 USA federal income tax.
I believe the 2/3 (66%) is from USA accountability office report GAO. it makes perfect sense. R&D companies like biotech and drugs lose money constantly. cyclical industry like semi-conductors pay 0 tax (tax credits) by losing money in the bust cycle and pay low taxes in the boom cycle (use tax credits). And finance companies got into that category recently as shown by GE capital.
The report was about GE (general electric) paying 0 USA federal income tax ($2billion tax credit) because of GE financial capital portion of the company. IE the worst financial crisis since the great depression of 2008-2009. Even though company made $11billion Net profit they paid 0 USA federal income tax.
Re: Obama XIII: It's all Bush's fault.
Because there is too much head wind removing the loopholes. probably easier to add a new tax without loopholes.
I like the VAT idea more and more. although I like the national sale tax for simplicity. same with simple flat tax.
Because there is too much head wind removing the loopholes. probably easier to add a new tax without loopholes.
I like the VAT idea more and more. although I like the national sale tax for simplicity. same with simple flat tax.
Shirtless Guy
Old Dirty Basterd
Re: Obama XIII: It's all Bush's fault.
Don't forget about all the jobs created around the current tax code, if we switched to a national sales tax, what happens to those jobs?
Re: Obama XIII: It's all Bush's fault.
The principal consumption tax that has been proposed is the Fair Tax, which is a replacement for the income tax, payroll taxes, corp taxes, etc. It isn't designed to be an additional tax. There may have been some other talk about national sales taxes, but nothing serious that I'm aware of. Likewise, any Flat Tax proposal I've ever heard about would also replace the income tax. If Congress decides to pursue a VAT, there's no way it's going to be proposed as a replacement fro the income tax; it will be additional tax.
The principal consumption tax that has been proposed is the Fair Tax, which is a replacement for the income tax, payroll taxes, corp taxes, etc. It isn't designed to be an additional tax. There may have been some other talk about national sales taxes, but nothing serious that I'm aware of. Likewise, any Flat Tax proposal I've ever heard about would also replace the income tax. If Congress decides to pursue a VAT, there's no way it's going to be proposed as a replacement fro the income tax; it will be additional tax.
Patman
Rodent of Unusual Size
Re: Obama XIII: It's all Bush's fault.
Bill... you can implement some of ideas of the "Fair Tax" without it being "Fair Tax" its called "National Sales Tax"... just because you define "Fair Tax" in a certain way is really a moot point.
Bill... you can implement some of ideas of the "Fair Tax" without it being "Fair Tax" its called "National Sales Tax"... just because you define "Fair Tax" in a certain way is really a moot point.
St. Clown
Ideas Posted are Likely Not My Own
Re: Obama XIII: It's all Bush's fault.
Care to address the other $60billion paid in taxes?
And your source upon this is where?
Care to address the other $60billion paid in taxes?
Re: Obama XIII: It's all Bush's fault.
Any thoughtful responses to this glowing report on stimulus effects?
Do you find it to be creditable?
Any thoughtful responses to this glowing report on stimulus effects?
Do you find it to be creditable?
Re: Obama XIII: It's all Bush's fault.
I don't know, after a year they are almost done re-doing the large intersection on the way to the highway...1 year, 1 intersection. I guess it is possible they are going to drive down the highway and spend a year at the next intersection they see...but I suspect they will be unemployed at some point.
Now,the intersection is really nice, same number of lanes but with way cooler islands and with cross walks although in 6 years I've never seen anyone walk across the intersection. Build it and they will come?
So, in my opinion, it may have spent money but it generated nothing...nobody learned a new trade, no new commerce was created...all we got was a year's worth of traffic and some new islands; two of the stores have closed and others have cut back on staff because it is impossible to get in there.
So, some guys got work rebuilding an intersection and several small businesses got screwed...close enough for government work.
I don't know, after a year they are almost done re-doing the large intersection on the way to the highway...1 year, 1 intersection. I guess it is possible they are going to drive down the highway and spend a year at the next intersection they see...but I suspect they will be unemployed at some point.
Now,the intersection is really nice, same number of lanes but with way cooler islands and with cross walks although in 6 years I've never seen anyone walk across the intersection. Build it and they will come?
So, in my opinion, it may have spent money but it generated nothing...nobody learned a new trade, no new commerce was created...all we got was a year's worth of traffic and some new islands; two of the stores have closed and others have cut back on staff because it is impossible to get in there.
So, some guys got work rebuilding an intersection and several small businesses got screwed...close enough for government work.
Re: Obama XIII: It's all Bush's fault.
it's from forbes about large corporations not paying taxes.
I'm not sure about the $60billion ... it's probably the gasoline tax collected from consumers and/or royalty taxes. we're after all the largest oil/gasoline user on the planet.
http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corporate-taxes_2.html
it's from forbes about large corporations not paying taxes.
I'm not sure about the $60billion ... it's probably the gasoline tax collected from consumers and/or royalty taxes. we're after all the largest oil/gasoline user on the planet.
http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corporate-taxes_2.html
unofan
Well-known member
Re: Obama XIII: It's all Bush's fault.
Basic structure = progressive marginal tax rates. I have no problem with that, and I bet most people don't either.
So why not start there and then go after the loopholes, deductions, exemptions, whatever you wish to call them?
Or, perhaps to put it another way, how can the (un)Fair Tax or Flat Tax people confidently tell us that their systems won't be subject to the same loopholes/deductions/exemptions/whatever?
Basic structure = progressive marginal tax rates. I have no problem with that, and I bet most people don't either.
So why not start there and then go after the loopholes, deductions, exemptions, whatever you wish to call them?
Or, perhaps to put it another way, how can the (un)Fair Tax or Flat Tax people confidently tell us that their systems won't be subject to the same loopholes/deductions/exemptions/whatever?
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