Corporate Tax Loopholes = Corporate Socialism

Discussion in 'Politics' started by Flaylo, Nov 8, 2012.

  1. Flaylo
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    Flaylo Handsome Devil

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    Corporate Tax Loopholes = Corporate Socialism: Pulitzer Prize Winner David Cay Johnston | Daily Ticker - Yahoo! Finance

    How can the right wingers be so hard against socialism, all socialism but be so pro-Corporate socialist? :lol:
     
  2. there4eyeM
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    there4eyeM unlicensed metaphysician

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    Well, it is simple. As I once saw written concerning France, but which applies pretty generally, "We are capitalist for the profits and socialist for the losses."
    I believe this should explain both your confusion here and as well the response to the crisis generated by overly avaricious banks and investment predators.
     
  3. ba1614
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    ba1614 Silver Member

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    What we need is a flat tax on every dollar earned by every person, and a corporate tax of about 20%. Then we need to axe every tax loophole there is for every person, corporation, farmer, and anyone else who gets preferential treatment.

    But that ain't happening, so I don't know the answer. It's all I can do to figure out how to keep my small company afloat and avoid layoffs anymore, never mind the country.
     
  4. tyroneweaver
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    tyroneweaver Gold Member

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    \\

    Romney ran on changing the tax code. So ya had your chance. To late now, so don't whine.
     
  5. dblack
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    dblack Gold Member

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    I don't get it either. They claim to be for limited government, yet tolerate - even expand - this practice of using the tax code to punish enemies and reward supporters. Now that Roberts has given the official Supreme Court seal of approval to this kind of governance, voter revolt is about the only way we're going to curtail it.
     
  6. Flaylo
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    Flaylo Handsome Devil

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    I'm not confused, lol, these pro-private sector everything Repugs are for corporate welfare.
     
  7. Flaylo
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    Flaylo Handsome Devil

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    In short, give the rich more money, you do know taxing a person who makes $20,000 atr the same rate of someone who makes 20 million is not equal nor fair at all?
     
  8. martybegan
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    martybegan Gold Member

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    That person at $20m is still paying orders of magnitude more in actual dollars than the person at $20k.

    Everyone should have a stake in a tax burden, its when some people pay and some people dont that we get true inequality.
     
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  9. Katzndogz
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    Katzndogz Diamond Member

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    Everyone should use every legal method and loophole to avoid paying taxes. Starve the beast.
     
  10. healthmyths
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    healthmyths Gold Member Supporting Member

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    Have an idea for everyone that apparently don't know how businesses work.

    Tax Loopholes: Here are the ACTUAL DEDUCTIONS used by ALL taxpayers including corporations!
    What are the largest tax expenditures? In 2008 expenditures (tax deductions allowed) these are the amounts and types of deductions that Romney MAY suggest be eliminated or reduced. If ALL the deductions were eliminated another $653 billion would be added to tax revenue...

    Ranked by size the type of deduction and the amounts written off against taxes in 2008

    Amount of
    Deduction Type of deduction that government ALLOWS tax payer to subtract from taxes

    • [*]$131.0 billion Exclusion of employer medical insurance premiums and medical care
      [*]$117.7 Net exclusion of pension contributions and earnings
      [*]$ 88.5 Deductibility of mortgage interest on owner-occupied homes
      [*]$55.9 Accelerated depreciation of machinery and equipment
      [*]$49.1 Deductibility of non-business state and local taxes
      [*]$46.8 Deductibility of charitable contributions
      [*]$31.5 Deferral of income from controlled foreign corporations
      [*]$30.0 Capital gains exclusion on home sales
      [*]$29.1 Deductibility of State and local property tax on owner-occupied homes
      [*]$28.4 Child credit
      [*]$24.2 Capital gains (except agriculture,timber, and coal)
      [*]$21.5 Step-up basis of capital gains at death
    $653.7 billion

    Please Go to this site and get the substantiation for the above: [URL="http://www.taxpolicycenter.org/briefing-book
    So the BIGGEST deduction is businesses that pay medical insurance and care or $131 billion
    So let's not allow that deduction OK i.e. "corporate tax loophole"! That will mean the $131 billion WILL NOW BE PASSED ON to employee!
    The next deduction by corporations is Pension contributions of $117 billion... OK LET's DROP THAT!!!

    So between the two $250 billion that corporations DEDUCT that will NO longer be PAID on behalf of employee!
    WHO will pay for those "corporate loopholes"???
     
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