Corporate Tax Loopholes = Corporate Socialism

[Flaylo]

I don't care if the rich get to keep more of their money if I and my neighbors have more opportunities to better ourselves.

Don't bitch about the deficit and talk fiscal responsibility if thats what you believe, Repugs, forever biting themselves in the ass.

What is wrong with all of us prospering more, even the evil rich guy?

You progressives and your incessant demands to tear down others in order to prop others up isn't healthy for anyone. Lifting us all up should be our goal.

EDIT: No, wasteful spending and pandering to every special interest group is what's responsible for the debt, not revenue.

Now we know how Bush turned Clinton's surplus into a huge deficit.

 

[jwoodie]

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

The United States has the highest marginal corporate tax rate in the world, at 39.2%.

Corporations, Wall Street, Mitt Romney and even President Obama all argue that rate is too high for U.S. companies to be competitive in the global economy.


That would be the case if corporations paid such high rates but often they don't. Take Microsoft. The company avoided at least $6.5 billion in taxes using transactions with subsidiaries in Puerto Rico, Ireland, Singapore and Bermuda that were perfectly legal, according to the Senate's Permanent Subcommittee on Investigations, which held a hearing Thursday on corporate tax avoidance.

Carl Levin (D-Michigan), chairman of the subcommittee told reporters, "These loopholes and abuses exact a tremendous cost…What these gimmicks do is shift the burden of taxes onto citizens and business who don't use armies of lawyers and accountants."

How can the right wingers be so hard against socialism, all socialism but be so pro-Corporate socialist?

Why don't you give us a specific example of a specific "loophole" that should closed (and tell us the political party of the original sponsor)? I am all for reforming the tax code, but the constant reference to "corporate welfare" is nothing more than a campaign slogan.

 

[dblack]

Why don't you give us a specific example of a specific "loophole" that should closed (and tell us the political party of the original sponsor)? I am all for reforming the tax code, but the constant reference to "corporate welfare" is nothing more than a campaign slogan.

But it's a good slogan, as a far as they go. It points to a real, and often overlooked, aspect of wealth redistribution that Republicans seem unable to recognize. The point is that, in a fair taxation scheme, no one is getting special favors or being penalized via the tax code. The collection of taxes should be about maintaining revenue for necessary state functions. Not a means of encouraging some behavior and punishing others.

 

[LogikAndReazon]

Indeed, every business entity in every ghetto should pay more in taxes so that they can then pass that extra cost onto those same extremely ignorant neanderthal consumers who recommended they do so..........

Perhaps then they can riot and set fires to their own neighborhoods.............

 

[Skull Pilot]

I agree with the OP.

We should get rid of all tax loopholes for everyone.

No more tax credits for buying cars, no more deductions for tuition, etc ad infinitum ad nauseum

 

[ba1614]

What is wrong with all of us prospering more, even the evil rich guy?

Nothing at all. But what "tax incentives" do is the opposite of that. They are discriminatory in that the reward some of us and punish others. We're essentially using the tax code as backdoor legislation to dictate behavior that would be seen as blatantly unconstitutional if it were attempted with straightforward laws.

Holy fuck dude, my whole premise is to get rid of every "tax incentive" their is, for everyone.

edit: oops, "there" is

 

[ba1614]

Don't bitch about the deficit and talk fiscal responsibility if thats what you believe, Repugs, forever biting themselves in the ass.

What is wrong with all of us prospering more, even the evil rich guy?

You progressives and your incessant demands to tear down others in order to prop others up isn't healthy for anyone. Lifting us all up should be our goal.

EDIT: No, wasteful spending and pandering to every special interest group is what's responsible for the debt, not revenue.

Now we know how Bush turned Clinton's surplus into a huge deficit.

Yes, he got stuck with a democrat house start doing budgets. Clinton was lucky and had Newt doing the budgets for him that produced surpluses.

 

[Skull Pilot]

Don't bitch about the deficit and talk fiscal responsibility if thats what you believe, Repugs, forever biting themselves in the ass.

What is wrong with all of us prospering more, even the evil rich guy?

You progressives and your incessant demands to tear down others in order to prop others up isn't healthy for anyone. Lifting us all up should be our goal.

EDIT: No, wasteful spending and pandering to every special interest group is what's responsible for the debt, not revenue.

Now we know how Bush turned Clinton's surplus into a huge deficit.

Excuse me but there was still national debt under Blow Job Billy. All a Budget surplus means is that one year the fucking government didn't spend all the revenue it raped us for.

 

[jwoodie]

Why don't you give us a specific example of a specific "loophole" that should closed (and tell us the political party of the original sponsor)? I am all for reforming the tax code, but the constant reference to "corporate welfare" is nothing more than a campaign slogan.

But it's a good slogan, as a far as they go. It points to a real, and often overlooked, aspect of wealth redistribution that Republicans seem unable to recognize. The point is that, in a fair taxation scheme, no one is getting special favors or being penalized via the tax code. The collection of taxes should be about maintaining revenue for necessary state functions. Not a means of encouraging some behavior and punishing others.

Nice nonresponse to my question. Ironically, Herman Cain's 9-9-9 Plan was better than anyone else's plan for reforming the tax code (which is why he had to be destroyed before things got out of hand).

 

[martybegan]

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?

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.

The problem is....the person at $20k needs that money to survive in this God awfully expensive country of ours....the person at $20M doesn't....in fact, it's just a nuisance to them. I do agree that everyone should have a stake in the tax burden.....and everyone does....everyone pays State and local taxes.....everyone pays sales tax, everyone pays FICA, everyone contributes to Medicare, everyone pays taxes on every gallon of fuel the buy....if they smoke or drink alcohol, they pay taxes on that....the only tax that they may not pay is Federal Income tax....and that's either because they are:

A. dirt poor
or
B. are so wealthy that they can afford a team of attorneys and accountants....not to mention loopholes and deductions that only people of their financial status can take advantage of.

I would not have an issue with progressive taxation in a limited sort of way. The problem starts when politicans see this as an endless way to increase the scope of federal government by appealing to those getting "free" help from the government. What we have now is not progressive taxation for government, what we have now is charity at the point of a gun.

 

[dblack]

What is wrong with all of us prospering more, even the evil rich guy?

Nothing at all. But what "tax incentives" do is the opposite of that. They are discriminatory in that the reward some of us and punish others. We're essentially using the tax code as backdoor legislation to dictate behavior that would be seen as blatantly unconstitutional if it were attempted with straightforward laws.

Holy fuck dude, my whole premise is to get rid of every "tax incentive" their is, for everyone.

edit: oops, "there" is

I hear ya. I wasn't necessarily assuming we were in disagreement.

 

[dblack]

Why don't you give us a specific example of a specific "loophole" that should closed (and tell us the political party of the original sponsor)? I am all for reforming the tax code, but the constant reference to "corporate welfare" is nothing more than a campaign slogan.

But it's a good slogan, as a far as they go. It points to a real, and often overlooked, aspect of wealth redistribution that Republicans seem unable to recognize. The point is that, in a fair taxation scheme, no one is getting special favors or being penalized via the tax code. The collection of taxes should be about maintaining revenue for necessary state functions. Not a means of encouraging some behavior and punishing others.

Nice nonresponse to my question. Ironically, Herman Cain's 9-9-9 Plan was better than anyone else's plan for reforming the tax code (which is why he had to be destroyed before things got out of hand).

My post wasn't meant as a response to your question, but a comment on the use of the term "corporate welfare". As far as your question goes, I want to get rid of the entire practice of tax incentives, so I'm not really interested in closing one in particular. Close them all.

Also, I don't really care which party introduced them. There's plenty of blame to go around. Let's just fix it.

 

[DiamondDave]

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.

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?

Yes it is equal.. and fair is SUBJECTIVE

 

[dblack]

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.

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?

Yes it is equal.. and fair is SUBJECTIVE

True. But outside of the 'fairness' issue, do you think government should be using the tax code to give special breaks to some, but not others?