FACT: Tax Breaks are NOT Subsidies!

[tooAlive]

I thought this was common knowledge but apparently it's not. Hopefully this thread will finally put this misconception to rest.

Subsidize - to aid or promote (as a private enterprise) with public money; to purchase the assistance of by payment of a subsidy .

Subsidize - Definition and More from the Free Merriam-Webster Dictionary

Subsidy - a grant or gift of money.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

As you can see, a tax break could not possibly classify as a subsidy. A tax break is not a gift, nor is it financial assistance; it's simply allowing a person or corporation to keep more of the money that is already theirs.

Here's another great example of why tax breaks are nowhere near being considered subsidies.

The Difference Between a Tax Break and a Subsidy - Reason.com

On Thursday, Virginia Democratic Party executive director David Mills said the oil companies were "getting free money from the government."

Just one problem. Those "subsidies" are not subsidies. They are tax breaks.

Of the $4 billion in alleged subsidies to Big Oil, $1.7 billion derives from a domestic manufacturing tax deduction intended to keep factories in the U.S. It is available to every company, not just oil companies.

Another $850 million comes from another tax provision, also available to every U.S. corporation, that gives a credit for taxes paid to foreign countries—just as you can deduct your state taxes from your federal income taxes.

Yet another $1 billion comes from tax rules that let oil companies treat oil in the ground as capital equipment for write-down purposes, and the rest comes from rules that let oil companies write off certain business costs immediately.

 

[Vast LWC]

LOL.

6 of one, half dozen of the other.

If you are getting a tax break that everyone else isn't getting, then it's a subsidy.

You are being given an advantage over other people by having to pay less than your fair share in taxes.

It's a subsidy.

If said tax break applied to EVERYONE, then it wouldn't be a subsidy.

 

[OohPooPahDoo]

I thought this was common knowledge but apparently it's not. Hopefully this thread will finally put this misconception to rest.

Subsidize - to aid or promote (as a private enterprise) with public money; to purchase the assistance of by payment of a subsidy .

Subsidize - Definition and More from the Free Merriam-Webster Dictionary

Subsidy - a grant or gift of money.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

As you can see, a tax break could not possibly classify as a subsidy. A tax break is not a gift, nor is it financial assistance; it's simply allowing a person or corporation to keep more of the money that is already theirs.

Here's another great example of why tax breaks are nowhere near being considered subsidies.

The Difference Between a Tax Break and a Subsidy - Reason.com

On Thursday, Virginia Democratic Party executive director David Mills said the oil companies were "getting free money from the government."

Just one problem. Those "subsidies" are not subsidies. They are tax breaks.

Of the $4 billion in alleged subsidies to Big Oil, $1.7 billion derives from a domestic manufacturing tax deduction intended to keep factories in the U.S. It is available to every company, not just oil companies.

Another $850 million comes from another tax provision, also available to every U.S. corporation, that gives a credit for taxes paid to foreign countries—just as you can deduct your state taxes from your federal income taxes.

Yet another $1 billion comes from tax rules that let oil companies treat oil in the ground as capital equipment for write-down purposes, and the rest comes from rules that let oil companies write off certain business costs immediately.

Bullshit. Money that a company owes in taxes isn't "already theirs" - by definition it belongs to the U.S. Treasury.

 

[tooAlive]

LOL.

6 of one, half dozen of the other.

If you are getting a tax break that everyone else isn't getting, then it's a subsidy.

You are being given an advantage over other people by having to pay less than your fair share in taxes.

It's a subsidy.

If said tax break applied to EVERYONE, then it wouldn't be a subsidy.

On Thursday, Virginia Democratic Party executive director David Mills said the oil companies were "getting free money from the government."

Just one problem. Those "subsidies" are not subsidies. They are tax breaks.

Of the $4 billion in alleged subsidies to Big Oil, $1.7 billion derives from a domestic manufacturing tax deduction intended to keep factories in the U.S. It is available to every company, not just oil companies.

Another $850 million comes from another tax provision, also available to every U.S. corporation, that gives a credit for taxes paid to foreign countries—just as you can deduct your state taxes from your federal income taxes.

They are available to everyone.

 

[tooAlive]

Bullshit. Money that a company owes in taxes isn't "already theirs" - by definition it belongs to the U.S. Treasury.

No, you're wrong.

Money that a company earns belongs to them. Being able to keep more of it via tax breaks does not constitute as a gift for that company.

The money is already theirs. The government isn't giving them money they didn't already have.

By definition, a subsidy would mean they're receiving money from the government. They aren't.

So no, tax breaks aren't subsidies.

 

[OohPooPahDoo]

Bullshit. Money that a company owes in taxes isn't "already theirs" - by definition it belongs to the U.S. Treasury.

No, you're wrong.

Money that a company earns belongs to them.

Not when they owe it in taxes.

Being able to keep more of it via tax breaks does not constitute as a gift for that company.

It sure the fuck does.

The money is already theirs.

No, it isn't. It belongs to the U.S. Treasury. That's how taxes work you dumbfuck.



If what you are saying is true, that means if I get all of my tax money back as credits for whatever reason, I'm a taxpayer. That's most assuredly NOT the position taken by your right wing friends.

 

[tooAlive]

Bullshit. Money that a company owes in taxes isn't "already theirs" - by definition it belongs to the U.S. Treasury.

No, you're wrong.

Money that a company earns belongs to them.

Not when they owe it in taxes.

Being able to keep more of it via tax breaks does not constitute as a gift for that company.

It sure the fuck does.

The money is already theirs.

No, it isn't. It belongs to the U.S. Treasury. That's how taxes work you dumbfuck.

You couldn't be further from the truth.

If those companies were to be subsidized, they would have to be receiving taxpayer dollars from the government. They aren't.

Now, when the government bails out big corporations, that would be considered a subsidy.

But a tax break? Gimme a break. The government is allowing them to keep more of their own money.

 

[Vast LWC]

On Thursday, Virginia Democratic Party executive director David Mills said the oil companies were "getting free money from the government."

Just one problem. Those "subsidies" are not subsidies. They are tax breaks.

Of the $4 billion in alleged subsidies to Big Oil, $1.7 billion derives from a domestic manufacturing tax deduction intended to keep factories in the U.S. It is available to every company, not just oil companies.

Another $850 million comes from another tax provision, also available to every U.S. corporation, that gives a credit for taxes paid to foreign countries—just as you can deduct your state taxes from your federal income taxes.

They are available to everyone.

OK, first of all, "domestic manufacturing companies" is not "everyone". And the tax break in question would in fact be a "Manufacturing Subsidy".

Putting that aside, however, "a credit for taxes paid to foreign countries"???

Are you kidding me? And you're complaining because people want that done away with?

 

[tooAlive]

No, you're wrong.

Money that a company earns belongs to them.

Not when they owe it in taxes.

They don't owe that money.

The government allowed them to keep that money (which was already theirs) via a tax break.

So they don't owe it to anybody.

 

[Darkwind]

The problem is that liberals believe that the government gets first cut.

They don't.

Government is NOT entitled to an income.

 

[tooAlive]

On Thursday, Virginia Democratic Party executive director David Mills said the oil companies were "getting free money from the government."

Just one problem. Those "subsidies" are not subsidies. They are tax breaks.

Of the $4 billion in alleged subsidies to Big Oil, $1.7 billion derives from a domestic manufacturing tax deduction intended to keep factories in the U.S. It is available to every company, not just oil companies.

Another $850 million comes from another tax provision, also available to every U.S. corporation, that gives a credit for taxes paid to foreign countries—just as you can deduct your state taxes from your federal income taxes.

They are available to everyone.

OK, first of all, "domestic manufacturing companies" is not "everyone". And the tax break in question would in fact be a "Manufacturing Subsidy".

Putting that aside, however, "a credit for taxes paid to foreign countries"???

Are you kidding me? And you're complaining because people want that done away with?

Why would I have a problem with a company keeping more of the money they've already earned?

And there are tax breaks for every company and individual to take advantage of. They're still not subsidies, because the government isn't putting money in anyone's pockets that wasn't already there.

And if it was up to me? There would only be a flat tax on consumption. No more of this income tax and loophole nonsense.

 

[ilia25]

Bullshit. Money that a company owes in taxes isn't "already theirs" - by definition it belongs to the U.S. Treasury.

No, you're wrong.

Money that a company earns belongs to them. Being able to keep more of it via tax breaks does not constitute as a gift for that company.

What is a difference between:
1) paying 1 million in taxes
2) paying 2 millions and getting 1 million subsidy

The bottom line is the same.

 

[OohPooPahDoo]

No, you're wrong.

Money that a company earns belongs to them.

Not when they owe it in taxes.



It sure the fuck does.

The money is already theirs.

No, it isn't. It belongs to the U.S. Treasury. That's how taxes work you dumbfuck.

You couldn't be further from the truth.

If those companies were to be subsidized, they would have to be receiving taxpayer dollars from the government. They aren't.

Now, when the government bails out big corporations, that would be considered a subsidy.

But a tax break? Gimme a break. The government is allowing them to keep more of their own money.

Funny how when the 47% get their tax's back at the end of the year the right wing doesn't phrase it quite the same.

 

[OohPooPahDoo]

Bullshit. Money that a company owes in taxes isn't "already theirs" - by definition it belongs to the U.S. Treasury.

No, you're wrong.

Money that a company earns belongs to them. Being able to keep more of it via tax breaks does not constitute as a gift for that company.

What is a difference between:
1) paying 1 million in taxes
2) paying 2 millions and getting 1 million subsidy

The bottom line is the same.

Yet a mother of 4 who gets her tax dollars back at the end of the year is classified as a leach.

 

[tooAlive]

Bullshit. Money that a company owes in taxes isn't "already theirs" - by definition it belongs to the U.S. Treasury.

No, you're wrong.

Money that a company earns belongs to them. Being able to keep more of it via tax breaks does not constitute as a gift for that company.

What is a difference between:
1) paying 1 million in taxes
2) paying 2 millions and getting 1 million subsidy

The bottom line is the same.

A subsidy is money a corporation receives from the government. In other words, taxpayer dollars going to a corporation.

A bailout would be considered a subsidy. But a tax break is not.

 

[Vast LWC]

You couldn't be further from the truth.

If those companies were to be subsidized, they would have to be receiving taxpayer dollars from the government. They aren't.

Now, when the government bails out big corporations, that would be considered a subsidy.

But a tax break? Gimme a break. The government is allowing them to keep more of their own money.

That's some Orwellian double-speak right there.

It's not "their money".

Since they make use of the benefits of being situated in America, they pay for that privilege.

Taxes, therefore, are money they already owe to the government.

You don't pay taxes ahead of time, you pay it AFTER you've already made use of the US infrastructure for a year.

Therefore, if the government decides to give you a "credit", it's a refund on money that you already owe, or a "subsidy".

 

[dnsmith35]

I thought this was common knowledge but apparently it's not. Hopefully this thread will finally put this misconception to rest.

Subsidize - to aid or promote (as a private enterprise) with public money; to purchase the assistance of by payment of a subsidy .

Subsidize - Definition and More from the Free Merriam-Webster Dictionary

Subsidy - a grant or gift of money.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

As you can see, a tax break could not possibly classify as a subsidy. A tax break is not a gift, nor is it financial assistance; it's simply allowing a person or corporation to keep more of the money that is already theirs.

Here's another great example of why tax breaks are nowhere near being considered subsidies.

The Difference Between a Tax Break and a Subsidy - Reason.com

On Thursday, Virginia Democratic Party executive director David Mills said the oil companies were "getting free money from the government."

Just one problem. Those "subsidies" are not subsidies. They are tax breaks.

Of the $4 billion in alleged subsidies to Big Oil, $1.7 billion derives from a domestic manufacturing tax deduction intended to keep factories in the U.S. It is available to every company, not just oil companies.

Another $850 million comes from another tax provision, also available to every U.S. corporation, that gives a credit for taxes paid to foreign countries—just as you can deduct your state taxes from your federal income taxes.

Yet another $1 billion comes from tax rules that let oil companies treat oil in the ground as capital equipment for write-down purposes, and the rest comes from rules that let oil companies write off certain business costs immediately.

Bullshit. Money that a company owes in taxes isn't "already theirs" - by definition it belongs to the U.S. Treasury.

Your signature is absurd. Unions are not in any way justified as anything positive except for the small elitist (12% or less) persons who are in a union and a union has nothing to do with a free market. Unionism is counter productive for our economy and has forced many jobs from the nonunion south or overseas.

 

[tooAlive]

You couldn't be further from the truth.

If those companies were to be subsidized, they would have to be receiving taxpayer dollars from the government. They aren't.

Now, when the government bails out big corporations, that would be considered a subsidy.

But a tax break? Gimme a break. The government is allowing them to keep more of their own money.

That's some Orwellian double-speak right there.

It's not "their money".

Since they make use of the benefits of being situated in America, they pay for that privilege.

Taxes, therefore, are money they already owe to the government.

You don't pay taxes ahead of time, you pay it AFTER you've already made use of the US infrastructure for a year.

Therefore, if the government decides to give you a "credit", it's a refund on money that you already owe, or a "subsidy".

Right, because they used the same public roads, public schools, public police department, public fire department, public parks, ect..

In other words, "You didn't build that."

So none of what they earned really belongs to them.. It belongs to "everyone." Or, the government.

Communist ideology at it's finest.

 

[Skull Pilot]

LOL.

6 of one, half dozen of the other.

If you are getting a tax break that everyone else isn't getting, then it's a subsidy.

You mean like the child deduction, the earned income tax credit, the tuition credit, etc etc?

You are being given an advantage over other people by having to pay less than your fair share in taxes.

ibid

 

[ilia25]

No, you're wrong.

Money that a company earns belongs to them. Being able to keep more of it via tax breaks does not constitute as a gift for that company.

What is a difference between:
1) paying 1 million in taxes
2) paying 2 millions and getting 1 million subsidy

The bottom line is the same.

A subsidy is money a corporation receives from the government. In other words, taxpayer dollars going to a corporation.

So what? The bottom line is the same whether you call it a subsidy or a tax break: the corporation is now has a million more, and the government has a million less.