Prosperity Lost

Discussion in 'Politics' started by alan1, Apr 1, 2009.

  1. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    Prosperity Lost

    Let's see, On this board I hear liberals complaining about the "Bush Tax Cuts", and that corporations don't "pay their fair share" of taxes.
    Quite telling.
     
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  2. Sinatra
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    Sinatra Senior Member

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    That is because far too many liberals, while reaping the benefits of a free market system, fail to actually understand how those benefits are created. They then wrap their intellectually flaccid minds around the pre-packaged political slant on what the free market is, and isn't, and march along to that tune like happy monkeys to the organ grinder's message, crying out the mind numbing phrases equating success with evil and working class with nobility, when each are not always the exclusive right of the other.

    America is being nailed to the cross of liberalism, mocked and ridiculed, gutted and bled, and the nation is left shaking its weary head and crying out, "Forgive them - they know not what they do."
     
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  3. Care4all
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    Care4all Warrior Princess Supporting Member

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    the person buying the product or service is the one paying the corporate taxes, which is how it should be.

    the taxes are only paid on pure profit made, not on their revenues generated....so even though as per your example a corporation may be taxed at a 30% rate, their effective tax rate averages only 6%, once they take all of their deductions....which is one of the LOWEST corporate tax rates in the world.

    corporate taxes for most our history in collecting taxes, paid for 1/2 of our tax burden as a country and corporate taxes now only pay for 10-20% of our total tax burden while income taxes now pay for a greater portion of our tax burden because of the major lowering of corporate tax rates.

    I'm not certain how this relates to your article, but these are important facts that should be known and a quick google of corporate tax history could serve to enlighten one on the topic.

    Care
     
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  4. American Horse
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    American Horse AKA "Mustang"

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    Care, you've mixed the scenarios; the 30% tax rate (you) mentioned was for an individual's income (repairing a computer) going for taxes, and not a corporation's, so the ratios apply as stated. Secondly, the fact that such a small part of revenue is gained from taxing corporations, suggests that it shoud be abandoned. Thirdly, although the corporate tax rate is applied to net corporate income, and not to gross sales/income, it still has to be made up for in the margin, where it is much more than the 6% you mentioned. Finally, there is a reason that Ireland with the lowest corporate tax rate in Europe has the fastest growing economy in Europe (and N.A.) - [​IMG]
     
    Last edited: Apr 1, 2009
  5. Care4all
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    Care4all Warrior Princess Supporting Member

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    mustang....

    BOTTOM LINE,

    corporate taxes on average are ONLY 6%.

    The less you tax corporations, the MORE you will have to tax other individuals....do you think you should be paying more in taxes so that corporations or the owners of corporations can pay less? yes, or no?

    If you eliminate corporate taxes, then no taxes will be paid on the profits of corporations untill the owners sell their stock and even then it would be taxed at the lower capital gains rate of 20%, so essentially the owners of these corporations pay no taxes what so ever, if they hold on to their stock until they die and they can pass on $3.5 million of their stock on to their heirs without any taxes at all being paid on it....do you really think this is fair while the rest of us pay taxes on most every dime of what we earn by working hard?

    The example that was given, if it was about something an individual made and then sold, it falls under the same scenario....they are not taxed at 30% of their sale price of the item, they are taxed ONLY ON THE PROFIT they made off of the item and this is after all of his expenses like his overhead, payroll, cost of goods to produce, reinvestment in the business, etc are paid.

    Care
     
  6. Chris
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    Chris Gold Member

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    The biggest drag on our corporations is the lack of universal healthcare. Our corporations have to compete with businesses overseas, none of which have to pay for healthcare for their workers. Toyota just located a plant in Canada for this very reason.
     
  7. xsited1
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    xsited1 Agent P

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    Please post a link for this. Thanks.
     
  8. Chris
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    Chris Gold Member

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  9. xsited1
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  10. auditor0007
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    auditor0007 Gold Member

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    Here's the bottom line; we need to collect taxes, and we need to collect enough to cover goverenment spending. We cannot continue to borrow from our children and grandchildren. The solution is twofold; cut costs and tax everyone fairly, a flat tax across the board. Everyone pays the same less a standard deduction. Income tax, Corporate tax, Capital Gains, and Inheritance taxes, all one rate, simple and fair to everyone.
     
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