A Six-Point Plan to Restore Economic Growth and Prosperity

[g5000]

In a system where production is taxed in the form of income taxes, you cannot escape that tax. You cannot change the amount you pay. You're trapped.

In a system where consumption is taxed, you can decide how much of that tax you want to pay simply buy cutting back on your consumption.

That is why fiscal conservatives favor consumption taxes over taxes on production.

 

[g5000]

Equal tax is not the same as fair tax.

It most certainly is.

It is unfair to make someone who did not buy the right kind of refrigerator pay more taxes. Grossly unfair. How could you possibly be willing to go along with such government behavioral controls and consider yourself a conservative?

 

[g5000]

In the current tax regime, you are rewarded if you buy the right refrigerator or the right car.

If we switch to taxes on consumption, you are rewarded for not buying a refrigerator or a car.

I would prefer I decide for myself if I want a car or refrigerator, not have the government deciding what car or refrigerator I should be buying.

That is what real conservatism looks like, kids.

 

[Blackrook]

So you want to punish people who buy cars and refrigerators? Won't that decrease consumption and do damage to the economy? People will more likely sit on their money and not spend it if they are taxed on consumption. Or they will go to foreign countries without VAT and buy things there, and ship it here.

 

[g5000]

So you want to punish people who buy cars and refrigerators?

Nope. I want people deciding for themselves what products they want. I do not want the government telling us which products we should be buying. And that is what the government is currently doing, with your blessing.

 

[Rexx Taylor]

stop moochelle from feeding (more like torturing) our children !!!

 

[mikegriffith1]

Further, tax foreign corporate income at 5%–10%, and let companies bring it back home to invest here. This strategy will actually increase tax revenues.

Economists of just about all stripes estimate that this move alone would bring about $2 trillion back into our economy, and it is downright baffling that Democrats block it every time Republicans propose it. Canada taxes foreign corporate income at a fraction of our absurd repatriated income rate. That money is gonna stay parked overseas until we adopt a sane foreign corporate income tax rate.

 

[EdwardBaiamonte]

Further, tax foreign corporate income at 5%–10%, and let companies bring it back home to invest here. This strategy will actually increase tax revenues.

Economists of just about all stripes estimate that this move alone would bring about $2 trillion back into our economy, and it is downright baffling that Democrats block it every time Republicans propose it. Canada taxes foreign corporate income at a fraction of our absurd repatriated income rate. That money is gonna stay parked overseas until we adopt a sane foreign corporate income tax rate.

Baffling??? Democrats are Marxist puppets who think they are punishing evil corporations by taxing them when all it does in reality is drive them, their money, and jobs off shore. and , to add insult to injury, it raises our prices by the amount of the tax since corporations are tax collectors not taxpayers.

Its stupid beyond belief but that is what liberalism is in reality.

 

[g5000]

Further, tax foreign corporate income at 5%–10%, and let companies bring it back home to invest here. This strategy will actually increase tax revenues.

Economists of just about all stripes estimate that this move alone would bring about $2 trillion back into our economy, and it is downright baffling that Democrats block it every time Republicans propose it. Canada taxes foreign corporate income at a fraction of our absurd repatriated income rate. That money is gonna stay parked overseas until we adopt a sane foreign corporate income tax rate.

Obama wants to lower the foreign corporate income tax to 19%, and tax the income currently being hoarded overseas at 14%. The Republicans want a total amnesty on income currently being hoarded overseas.

 

[EdwardBaiamonte]

Further, tax foreign corporate income at 5%–10%, and let companies bring it back home to invest here. This strategy will actually increase tax revenues.

Economists of just about all stripes estimate that this move alone would bring about $2 trillion back into our economy, and it is downright baffling that Democrats block it every time Republicans propose it. Canada taxes foreign corporate income at a fraction of our absurd repatriated income rate. That money is gonna stay parked overseas until we adopt a sane foreign corporate income tax rate.

Obama wants to lower the foreign corporate income tax to 19%, and tax the income currently being hoarded overseas at 14%. The Republicans want a total amnesty on income currently being hoarded overseas.

Democrats lack the IQ to know that corporations are tax collectors not tax payers. Get it?? They cover the cost of the tax like they cover all costs, by putting them in the prices they charge us. Its stupid beyond belief but that is the exact essence of liberalism.

 

[Toddsterpatriot]

Number 3 is one I have never thought of or heard of before, but the more I think about it, the more I am liking it.

That ends up taxing corporations at 30%.

30% of what? Their off-shore assets? After deductions are counted? Before subsidies are counted? After deferred taxes due to depreciation of equipment and vehicles? After credits for investments? Credit for losses? After stock devaluation?

In other words, 30% of what cash and assets?

30% of income.

 

[jillian]

Number 3 is one I have never thought of or heard of before, but the more I think about it, the more I am liking it.

#3 is commonly called a Value Added Tax. Politicians love it because it's hidden from consumers. It's a tax that promotes government.

No thanks.

that isn't what a value added tax is and it isn't why politicians "love it".

the VAT is wrong because it taxes expenditures, not income. lower income people spend more of their income than the wealthy. so middle and working class people end up getting taxed at higher rates.

the rightwingnut corportatists love it.

i'm figuring you didn't understand what it is.

 

[jillian]

Further, tax foreign corporate income at 5%–10%, and let companies bring it back home to invest here. This strategy will actually increase tax revenues.

Economists of just about all stripes estimate that this move alone would bring about $2 trillion back into our economy, and it is downright baffling that Democrats block it every time Republicans propose it. Canada taxes foreign corporate income at a fraction of our absurd repatriated income rate. That money is gonna stay parked overseas until we adopt a sane foreign corporate income tax rate.

Obama wants to lower the foreign corporate income tax to 19%, and tax the income currently being hoarded overseas at 14%. The Republicans want a total amnesty on income currently being hoarded overseas.

Democrats lack the IQ to know that corporations are tax collectors not tax payers. Get it?? They cover the cost of the tax like they cover all costs, by putting them in the prices they charge us. Its stupid beyond belief but that is the exact essence of liberalism.

funny how the smartest presidents are all democrats and pubs keep crashing our economy.

but you can pretend the right is smarter if it makes you feel better about yourself.

 

[g5000]

Number 3 is one I have never thought of or heard of before, but the more I think about it, the more I am liking it.

That ends up taxing corporations at 30%.

30% of what? Their off-shore assets? After deductions are counted? Before subsidies are counted? After deferred taxes due to depreciation of equipment and vehicles? After credits for investments? Credit for losses? After stock devaluation?

In other words, 30% of what cash and assets?

30% of income.

Nope. It's a 15% transfer tax.

 

[Sonny Clark]

Number 3 is one I have never thought of or heard of before, but the more I think about it, the more I am liking it.

That ends up taxing corporations at 30%.

30% of what? Their off-shore assets? After deductions are counted? Before subsidies are counted? After deferred taxes due to depreciation of equipment and vehicles? After credits for investments? Credit for losses? After stock devaluation?

In other words, 30% of what cash and assets?

30% of income.

Ah, but income is hidden, concealed in foreign branches, and rarely reported honestly. You do realize the extent of foreign ownership in American businesses, don't you? Also, you do know that assets can easily find their way to off-shore accounts ( Halliburton ) and moved around, don't you? So, again, what 30% are you speaking of?

 

[Toddsterpatriot]

Number 3 is one I have never thought of or heard of before, but the more I think about it, the more I am liking it.

That ends up taxing corporations at 30%.

30% of what? Their off-shore assets? After deductions are counted? Before subsidies are counted? After deferred taxes due to depreciation of equipment and vehicles? After credits for investments? Credit for losses? After stock devaluation?

In other words, 30% of what cash and assets?

30% of income.

Nope. It's a 15% transfer tax.

On top of a 15% income tax. That adds up to what percentage of income?

 

[Sonny Clark]

Number 3 is one I have never thought of or heard of before, but the more I think about it, the more I am liking it.

That ends up taxing corporations at 30%.

30% of what? Their off-shore assets? After deductions are counted? Before subsidies are counted? After deferred taxes due to depreciation of equipment and vehicles? After credits for investments? Credit for losses? After stock devaluation?

In other words, 30% of what cash and assets?

30% of income.

Nope. It's a 15% transfer tax.

On top of a 15% income tax. That adds up to what percentage of income?

30% ???? ,........ am I close ????

 

[g5000]

Number 3 is one I have never thought of or heard of before, but the more I think about it, the more I am liking it.

That ends up taxing corporations at 30%.

30% of what? Their off-shore assets? After deductions are counted? Before subsidies are counted? After deferred taxes due to depreciation of equipment and vehicles? After credits for investments? Credit for losses? After stock devaluation?

In other words, 30% of what cash and assets?

30% of income.

Nope. It's a 15% transfer tax.

On top of a 15% income tax. That adds up to what percentage of income?

Do you realize that you just said a 15% transfer tax plus a 15% income tax is a 30% income tax?

 

[Toddsterpatriot]

Number 3 is one I have never thought of or heard of before, but the more I think about it, the more I am liking it.

That ends up taxing corporations at 30%.

30% of what? Their off-shore assets? After deductions are counted? Before subsidies are counted? After deferred taxes due to depreciation of equipment and vehicles? After credits for investments? Credit for losses? After stock devaluation?

In other words, 30% of what cash and assets?

30% of income.

Ah, but income is hidden, concealed in foreign branches, and rarely reported honestly. You do realize the extent of foreign ownership in American businesses, don't you? Also, you do know that assets can easily find their way to off-shore accounts ( Halliburton ) and moved around, don't you? So, again, what 30% are you speaking of?

What does foreign ownership have to do with it?
A US owned corp makes 1 million in the US, a foreign owned firm does the same. Do you think they pay different rates?

Halliburton has offshore accounts? How did that happen?

 

[Toddsterpatriot]

That ends up taxing corporations at 30%.

30% of what? Their off-shore assets? After deductions are counted? Before subsidies are counted? After deferred taxes due to depreciation of equipment and vehicles? After credits for investments? Credit for losses? After stock devaluation?

In other words, 30% of what cash and assets?

30% of income.

Nope. It's a 15% transfer tax.

On top of a 15% income tax. That adds up to what percentage of income?

Do you realize that you just said a 15% transfer tax plus a 15% income tax is a 30% income tax?

What is the equivalent rate on income?