America's 2-class tax system

Discussion in 'Politics' started by Bass v 2.0, Apr 17, 2011.

  1. Bass v 2.0
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    Bass v 2.0 Biblical Warrior For God.

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    America's 2-class tax system | Philadelphia Inquirer | 04/17/2011


    "We'll know our disinformation program is complete when everything the American public believes is false."


    A rare moment of honesty for rightwing Republitards.


    One of the more egregious falsehoods being peddled by the corporate tax cutters is that companies doing business in the United States are taxed at an exorbitant rate. Not so. Though the United States has one of the highest statutory rates on the books at 35 percent, the only fair way to measure what companies actually pay is their effective rate - what they ultimately pay after deductions, credits, and assorted write-offs. By that yardstick, companies in the United States consistently pay taxes at rates lower than corporations in Japan and many nations in Europe.

    During the 1950s, the decade in which more people joined the middle class than at any time in history - before or since - corporations paid 49 percent of their profits in taxes. Last year, it was about half that rate, a decidedly more modest 26 percent. In 2010, corporate tax collections totaled $191 billion - down 8 percent from $207 billion as recently as 2000.

    Perhaps a more telling yardstick, corporate tax revenue in 2009 came to just 1 percent of gross domestic product - the lowest collection level since 1936, or three-quarters of a century ago. In 2010, it edged up to a puny 1.3 percent - the second-lowest since 1940. Even worse, the shriveled tax collections came at a time when corporations were registering an all-time high in profits. At the end of 2010, corporations posted an annualized profit of $1.65 trillion in the fourth quarter. In other words, the more they made, the less they paid.

    As for the corporate share of total income taxes paid by businesses and individuals, it has plummeted from 40 percent in 1950, the dawn of Middle America's golden age, to 18 percent last year.

    The numbers tell us that a lot of politicians, including would-be presidential candidates, are mathematically challenged.


    The corporate numbers also explain why hardworking Americans are on a greased downward slope from which they are unlikely to recover, as long as the lawmakers and deal-makers in Washington not only refuse to ease their plight, but also continue to pile on, compelling them alone to pay for the country's massive deficit while simultaneously chipping away at their safety nets.



    You rightwing, deluded morons have made it painfully hard to defend tax cuts and what simply amounts to corporate welfare, for big business, I seriously believe that the only reason you jackasses continue to defend and promote lies is just to save face from telling the American people they've been bamboozled and hoodwinked.
     
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  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    The US has the highest corporate tax rate in the world:
    AEI - Report Card on Effective Corporate Tax Rates

    Plus, companies have State taxes and when applicable, city taxes. In China and Japan for example, corporations pay their Government tax and that's it!

    As an individual I pay Federal, State and City taxes and that aint good either, but I guess that comes under the Liberal idea of "everyone must pay their fair share" and "shared sacrifice". Thanks Leftwing Deluded Morons! :clap2:
     
  3. Bass v 2.0
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    Bass v 2.0 Biblical Warrior For God.

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  4. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Liberals think that we can just tax a few millionaires and the "evil rich" and we'll be out of debt. They call it "shared sacrifice" and "paying your fair share". Ok, lets look at something.

    What is the National Debt?:
    U.S. National Debt Clock : Real Time
    What is the US GDP? (Market value of all goods and services from a nation in a given year)
    List of countries by GDP (nominal) - Wikipedia, the free encyclopedia
    The US Government could confiscate all goods and services, everything we have, and STILL NOT pay off the national debt. They would come up 100 Billion dollars short.

    So as you can see the idea that government can tax the rich to pay off the debt is patently wrong.
     
  5. WillowTree
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    WillowTree Diamond Member

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    You libturds did it to yourself and are so moronic all you know to do is mindlessly blame rebublicans. See that's the sign of a failed man, he is incabable of holding himself responsible for his choices. The first thing you fucked up was in joining the libturds.
     
  6. Bass v 2.0
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    Bass v 2.0 Biblical Warrior For God.

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    What are the businesses actually paying monkey, forget about the rates on the books, what are they actually paying? I'll give you one example of what they're paying:


    General Electric Paid No Federal Taxes in 2010 - ABC News


    They're paying so damn much aren't they? Stupid monkey, now defend that.
     
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  7. georgephillip
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    georgephillip Gold Member Supporting Member

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    What caused today's budget deficit?

    Wall Street greed, two unpaid-for wars, huge tax breaks for rich corporations and individuals, multi-trillion dollar taxpayer bailouts of "too big to fail" banks and "an unfunded Medicare Part D prescription drug program written by the insurance and drug companies."

    “Meanwhile, while the wealthiest people in this country and the largest corporations are doing extremely well, the Republicans want more giant tax breaks for the very rich as they move to balance the budget on the backs of the sick, the elderly, the children and by cutting environmental protection and infrastructure.

    "This is morally unacceptable and very bad economics."

    Bernie Sanders: Wealthiest Americans and Corporations Should Pay Their Fair Share for Democracy | BuzzFlash.org
     
  8. Mad Scientist
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    Corporate tax receipts plunge 31% in 1st Quarter of 2011:
    News Headlines
    In case you didn't know, the US Treasury is the place where businesses, who pay taxes quarterly, send their checks to. It's down 31%. That means businesses are making less money. That means business is slowing down. More than likely the double dip recession as the government stimulus wears off.

    What's the Liberal idea for fixing this? Take more money from them of course! Which is the exact opposite of what they should do!

    Apparently "shared sacrifice" doesn't apply to government.
     
  9. Mr. H.
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    The only way for me to reduce the effective rate within my corporation is to spend money.

    That money spent goes for goods and services that I need in order to manufacture what I sell.

    The goods and services that I purchase in this manner in turn result in the employment of others.
     
  10. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    How in the FUCK can you defend the complicated bullshit we call a tax code! I mean aside from the direct creation of so many jobs for lawyers and accountants?

    When taxes are simple, taxes will be fair. When taxes are fair and simple, the American economy will ROCK. Until then we flounder, a house divided.

    Simplify the tax code.

    7 + 7 on 3

    7% general sales tax on every retail transaction
    +
    7% income tax on individual earnings in excess of $3 million per year.

    No corporate tax (other than the sales tax on purchases), no deductions, no bullshit loop holes, no businesses or industries with "special incentives" or credits.
     

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