Tax corporations like people

[Oldguy]

If corporations are Constitutionally the same as people, and the Supreme Court said they are, why shouldn't they pay income tax like we do? They used to and our economy boomed.

It wouldn't be that difficult to reverse the Reagan Revolution, which saw the majority of the tax burden shift from corporations to individuals...IF we first get rid of the corporate stoogies in Congress.

http://www.nytimes.com/2013/04/15/o...?nl=todaysheadlines&emc=edit_th_20130415&_r=0

 

[nitroz]

I agree.

 

[OODA_Loop]

Yes the government taking 52% of business profits will fix everything.

 

[Mac1958]

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It would be interesting to watch how fast the flood of business investment/capital and business creation would leave the country. Maybe then we could expand Obamacare to include all businesses to really sock it to 'em, and then double or triple business regulation for the knockout punch.

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[Oldguy]

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It would be interesting to watch how fast the flood of business investment/capital and business creation would leave the country. Maybe then we could expand Obamacare to include all businesses to really sock it to 'em, and then double or triple business regulation for the knockout punch.

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What are you talking about? It's already left the country!

 

[Mac1958]

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It would be interesting to watch how fast the flood of business investment/capital and business creation would leave the country. Maybe then we could expand Obamacare to include all businesses to really sock it to 'em, and then double or triple business regulation for the knockout punch.

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What are you talking about? It's already left the country!

Sure has. So you think increasing corporate taxes will bring it back?

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[martybegan]

If corporations are Constitutionally the same as people, and the Supreme Court said they are, why shouldn't they pay income tax like we do? They used to and our economy boomed.

It wouldn't be that difficult to reverse the Reagan Revolution, which saw the majority of the tax burden shift from corporations to individuals...IF we first get rid of the corporate stoogies in Congress.

http://www.nytimes.com/2013/04/15/o...?nl=todaysheadlines&emc=edit_th_20130415&_r=0

And individuals will still end up paying for it due to increased cost of the items said corportation is selling.

 

[KissMy]

It would be interesting to watch how fast the flood of business investment/capital and business creation would leave the country. Maybe then we could expand Obamacare to include all businesses to really sock it to 'em, and then double or triple business regulation for the knockout punch.

You are an idiot. We tax labor so hard that they can't invest in business. Having labor subsidize the rich & their dividends with the tax code has destroyed the US economy. Labor is not getting any dividends from the theft of their wealth through the tax code. The high tax on labor sent all US jobs out of the country to places like China who has low labor tax rates. Hot investment money flowed here causing an inflationary asset bubble. Unless we cut tax on labor to get tax on assets, dividends & the rich back above labor we will never have a recovery in employment.

 

[editec]

I refuse to believe that corporations are people until the state of TEXAS executes a corporation.

 

[Mac1958]

It would be interesting to watch how fast the flood of business investment/capital and business creation would leave the country. Maybe then we could expand Obamacare to include all businesses to really sock it to 'em, and then double or triple business regulation for the knockout punch.

You are an idiot. We tax labor so hard that they can't invest in business. Having labor subsidize the rich & their dividends with the tax code has destroyed the US economy. Labor is not getting any dividends from the theft of their wealth through the tax code. The high tax on labor sent all US jobs out of the country to places like China who has low labor tax rates. Hot investment money flowed here causing an inflationary asset bubble. Unless we cut tax on labor Ito get tax on assets, dividends & the rich back above labor we will never have a recovery in employment.

Well, I've been called worse.

Please explain the phrases "we tax labor so hard" and "labor is not getting any dividends from the theft of their wealth", thanks.

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[Oldguy]

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It would be interesting to watch how fast the flood of business investment/capital and business creation would leave the country. Maybe then we could expand Obamacare to include all businesses to really sock it to 'em, and then double or triple business regulation for the knockout punch.

.

What are you talking about? It's already left the country!

Sure has. So you think increasing corporate taxes will bring it back?

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Just changing the tax code to tax profits made offshore, without waiting for the money to be repatriated (which it may never be), would go a long way toward reducing the incentive to outsource, wouldn't you say?

 

[Skull Pilot]

If corporations are Constitutionally the same as people, and the Supreme Court said they are, why shouldn't they pay income tax like we do? They used to and our economy boomed.

It wouldn't be that difficult to reverse the Reagan Revolution, which saw the majority of the tax burden shift from corporations to individuals...IF we first get rid of the corporate stoogies in Congress.

http://www.nytimes.com/2013/04/15/o...?nl=todaysheadlines&emc=edit_th_20130415&_r=0

The corp tax rate is 35%. The effective rate was something like 12%.

I say we should tax people like corporations. I'd be thrilled if my effective tax rate was 12%

 

[Mac1958]

What are you talking about? It's already left the country!

Sure has. So you think increasing corporate taxes will bring it back?

.

Just changing the tax code to tax profits made offshore, without waiting for the money to be repatriated (which it may never be), would go a long way toward reducing the incentive to outsource, wouldn't you say?

I'd be interested in seeing a plan for that, particularly one that strikes an equilibrium between overseas profits and outflowing capital. What I wouldn't want to see (as if I have a say in it) would be a tax code that motivates only the outflow of capital.

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[Oldguy]

Sure has. So you think increasing corporate taxes will bring it back?

.

Just changing the tax code to tax profits made offshore, without waiting for the money to be repatriated (which it may never be), would go a long way toward reducing the incentive to outsource, wouldn't you say?

I'd be interested in seeing a plan for that, particularly one that strikes an equilibrium between overseas profits and outflowing capital. What I wouldn't want to see (as if I have a say in it) would be a tax code that motivates only the outflow of capital.

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Obama has been urging Congress to pass such legislation since at least 2009, but the GOP House won't consider it.

 

[Skull Pilot]

Just changing the tax code to tax profits made offshore, without waiting for the money to be repatriated (which it may never be), would go a long way toward reducing the incentive to outsource, wouldn't you say?

I'd be interested in seeing a plan for that, particularly one that strikes an equilibrium between overseas profits and outflowing capital. What I wouldn't want to see (as if I have a say in it) would be a tax code that motivates only the outflow of capital.

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Obama has been urging Congress to pass such legislation since at least 2009, but the GOP House won't consider it.

It seems silly to me.

Every dime a corp makes is taxed already. It's taxed when it's paid out to shareholders etc

All raising the rate would do is lessen the tax collected on money paid out to stock holders.

 

[KissMy]

It would be interesting to watch how fast the flood of business investment/capital and business creation would leave the country. Maybe then we could expand Obamacare to include all businesses to really sock it to 'em, and then double or triple business regulation for the knockout punch.

You are an idiot. We tax labor so hard that they can't invest in business. Having labor subsidize the rich & their dividends with the tax code has destroyed the US economy. Labor is not getting any dividends from the theft of their wealth through the tax code. The high tax on labor sent all US jobs out of the country to places like China who has low labor tax rates. Hot investment money flowed here causing an inflationary asset bubble. Unless we cut tax on labor Ito get tax on assets, dividends & the rich back above labor we will never have a recovery in employment.

Well, I've been called worse.

Please explain the phrases "we tax labor so hard" and "labor is not getting any dividends from the theft of their wealth", thanks.

Rich business pays payroll tax on labor & the worker also pays payroll taxes on top of income tax, health-care tax, etc. This makes labor expensive to business in the USA incentivising big business to fire US workers & hire Asian workers. Now the rich make more profit & pay less taxes. We need to swap the tax structure to stop the hot money asset investment bubble & the exporting of jobs. More working people invest in their new innovative creations. The rich only invest in tried & true revenue generating assets driving up prices & commodities. Millions or workers investing & earning dividends are smarter innovators than a hundred billionaires driving up already productive asset prices.

"Many researchers have reached a conclusion that turns conventional wisdom on its head: Americans enjoy less economic mobility than their peers in Canada and much of Western Europe. The mobility gap has been widely discussed in academic circles, but a sour season of mass unemployment and street protests has moved the discussion toward center stage. “It’s becoming conventional wisdom that the U.S. does not have as much mobility as most other advanced countries,” said Isabel V. Sawhill, an economist at the Brookings Institution. “I don’t think you’ll find too many people who will argue with that.” The USA has been hardening it's social class structures making the rich richer & labor poorer. We are no different than slaves or subjects ruled by Kings & Queens.

 

[Mac1958]

Just changing the tax code to tax profits made offshore, without waiting for the money to be repatriated (which it may never be), would go a long way toward reducing the incentive to outsource, wouldn't you say?

I'd be interested in seeing a plan for that, particularly one that strikes an equilibrium between overseas profits and outflowing capital. What I wouldn't want to see (as if I have a say in it) would be a tax code that motivates only the outflow of capital.

.

Obama has been urging Congress to pass such legislation since at least 2009, but the GOP House won't consider it.

Sure. Look at the logistics of this sucker.

First of all, this will be tough as hell to figure out. Finding that equilibrium between adding new taxes and discouraging corporate investment will be a serious bitch. Add to that the considerable influence of lobbyists and campaign contributors, and I'm not surprised that our cowardly "leaders" are in no hurry to do this.

Remember, their top priorities are fundraising and re-election, not this silly economic shit.

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[LoneLaugher]

Poor, poor American corporations!

 

[Mac1958]

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Another issue that will slow down any fix is this incredibly simplistic and naive notion that all corporations are "rich". There are actually people who seem to believe this.

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[Seawytch]

Gee, it's kind of tough to shake the "rich corporations" meme when you get headlines like:

Corporate profits hit record as wages get squeezed