The rich are being taxed, also why do we tax corporations?

[JRK]

If you make an income in this country you will be taxed
If you increase your capital you will be taxed

Yet the liberals state the reason people who are "rich" or any of your "corporations' do not pay taxes is because of the GOP?
If you make any income in this country and you do not report it, they will catch you
If a corporation does not pay income tax, its because they did not make a profit

The system is so broke and Obama has exposed its darkest side. the more you "choke" the system we have in place the less it will provide

I wonder how much revenue has been lost just in the oil industries lost revenue?

To start with we need a tax revenue system like Florida and Texas has. A system that collects when people take that 15,000-20,000 dollars they would have and BHOinc would not (my example) and spend it on items that would create more jobs and create more revenue

 

[8537]

"If a corporation does not pay income tax, its because they did not make a profit"


Tell that to General Electric.

 

[WillowTree]

What in the hell did you just say?

 

[VaYank5150]

If you make an income in this country you will be taxed
If you increase your capital you will be taxed

Yet the liberals state the reason people who are "rich" or any of your "corporations' do not pay taxes is because of the GOP?
If you make any income in this country and you do not report it, they will catch you
If a corporation does not pay income tax, its because they did not make a profit
The system is so broke and Obama has exposed its darkest side. the more you "choke" the system we have in place the less it will provide

I wonder how much revenue has been lost just in the oil industries lost revenue?

To start with we need a tax revenue system like Florida and Texas has. A system that collects when people take that 15,000-20,000 dollars they would have and BHOinc would not (my example) and spend it on items that would create more jobs and create more revenue

I see you are new to USMB. Are you also new to the United States?

 

[JRK]

If you make an income in this country you will be taxed
If you increase your capital you will be taxed

Yet the liberals state the reason people who are "rich" or any of your "corporations' do not pay taxes is because of the GOP?
If you make any income in this country and you do not report it, they will catch you
If a corporation does not pay income tax, its because they did not make a profit
The system is so broke and Obama has exposed its darkest side. the more you "choke" the system we have in place the less it will provide

I wonder how much revenue has been lost just in the oil industries lost revenue?

To start with we need a tax revenue system like Florida and Texas has. A system that collects when people take that 15,000-20,000 dollars they would have and BHOinc would not (my example) and spend it on items that would create more jobs and create more revenue

I see you are new to USMB. Are you also new to the United States?

Why would you say that?
are you saying if a corporation makes profit that corporation will not have to pay taxes?
It is about taxable income, right?
Inside you'll find that GE in effect consists of two divisions: General Electric Capital and everything else. The everything else--maker of engines, power plants, TV shows and the like--would have paid a 22% tax rate if it was a standalone company.

It's GE Capital that keeps the overall tax bill so low. Over the last two years, GE Capital has displayed an uncanny ability to lose lots of money in the U.S. (posting a $6.5 billion loss in 2009), and make lots of money overseas (a $4.3 billion gain). Not only do the U.S. losses balance out the overseas gains, but GE can defer taxes on that overseas income indefinitely. The timing of big deductions for depreciation in GE Capital's equipment leasing business also provides a tax benefit, as will loan losses left over from the credit crunch.
GE, Exxon Paid No U.S. Income Taxes in 2009 - ABC News
See I have an issue with much of how this works anyway, I also have an issue with the Liberals who have no desire to resolve anything
Again GE makes no profit, they pay no taxes
Its a system that is broke

 

[NYcarbineer]

Corporations in FY2009 paid 225 billion in US income tax.

So, a math problem:

You want to eliminate those taxes, where do you make up 225 billion in revenue? Who gets to pay the taxes the corporations no longer pay?

 

[JRK]

Corporations in FY2009 paid 225 billion in US income tax.

So, a math problem:

You want to eliminate those taxes, where do you make up 225 billion in revenue? Who gets to pay the taxes the corporations no longer pay?

I am not sure eliminate is the correct word
My thread ask the question
Let us also think about how many jobs we would add if corporations pad a vat type tax only?
The 225 number is a good number and good information
Where I have a problem here is 1) we have to be competitive and 2) there is so much of what and who a corporation is being taxed prior to there part in it

Obviously the person who works for the corporation could not make it up and we would have to add 20 million people to the work force to make up the difference.

We are only 3-4 million short of our 08 numbers

Let me tell you where my problems are
I own jrk corp
we build widgets
I make 1 dollar a year
pay taxes on that
I own 2 stocks of the three
it goes up 10% for the year
I pay taxes on that
We spend 10 dollars to build widgets
chicken, guts and feathers
we have 12 dollars at the end of the year
The corporation has made a profit of 2.00
Now we pay taxes on that

Why must this be so complicated and why don't we put a system in place in which we have a flat tax or a system like Florida and Texas has
It amazes me the Left acts like these people are evil

In a manner of speaking i just described to you my year
and I keep asking my self why?

Job creation and opportunity is out there. If we would allow the oil companies to do there thing
Become creative with our tax system, and reward those who take risk you could not stop the boom
I have no personal issues with BHO as our president, but it is time we change the way we create opportunity in this country and taxing the people who create it and then calling them evil is not working

 

[LordBrownTrout]

I wonder why GE gets such a sweet deal?

 

[JRK]

I wonder why GE gets such a sweet deal?

Ge lost there butt in 2008, got a "loan" from BHOinc using our money
I thought this would create some conversation. I have noticed the Liberals here have no interest in resolving anything, they just want to keep the same BS going in hopes Obama will get re-elected the same way he got elected

 

[kaz]

Corporations in FY2009 paid 225 billion in US income tax.

So, a math problem:

You want to eliminate those taxes, where do you make up 225 billion in revenue? Who gets to pay the taxes the corporations no longer pay?

The idea of cutting spending just really never occurs to liberals, does it? Government is sooooo great, we couldn't possibly do with even a little less of it

 

[Charles_Main]

The rich are being taxed, also why do we tax corporations?

So they can raise their prices and fees, and pass the cost right on to all of us. Of course.

 

[Charles_Main]

Corporations in FY2009 paid 225 billion in US income tax.

So, a math problem:

You want to eliminate those taxes, where do you make up 225 billion in revenue? Who gets to pay the taxes the corporations no longer pay?

The idea of cutting spending just really never occurs to liberals, does it? Government is sooooo great, we couldn't possibly do with even a little less of it

Not to mention that because Cooperation's simply pass the cost of taxes onto their Customers. In the end it is we the consumers who pay that 255 Billion in taxes.

 

[Eric Cartman]

Corporations in FY2009 paid 225 billion in US income tax.

So, a math problem:

You want to eliminate those taxes, where do you make up 225 billion in revenue? Who gets to pay the taxes the corporations no longer pay?

The idea of cutting spending just really never occurs to liberals, does it? Government is sooooo great, we couldn't possibly do with even a little less of it

If our politics hadn't devolved into a "money is free speech" and "party is more important than country" mentality, maybe we could have some grown-up ideas like cutting spending and cutting some of the "bought and payed for" tax deductions resulting in a balanced budget. A little compromise and common sense please.

 

[Dont Taz Me Bro]

If it were up to me there would be no corporate income tax at all and we'd have the best economy in the world as a result.

 

[Eric Cartman]

If it were up to me there would be no corporate income tax at all and we'd have the best economy in the world as a result.

Not a real big feat since we already have the best (biggest) economy.

 

[spectrumc01]

First of all what the law says about paying taxes and what really happens are two different things. Just ask all of thepeople who got busted for hiding their money in Swiss bank accounts, that are now trying to cut deals after the Swiss rolled over on them. Next ask why alot of corporations make their headquarters in the Cayman Islands or other foreign countries. People like Bernard Madoff, companies like Enron, and political parties like the GOP who tell us, not to tax the rich because they create jobs and they pay the majority of taxes. Well under eight years of GOP rule how many jobs were created by their tax breaks for the rich? If I'm not mistaken Obama was handed the biggest financial catastrophe in the last fifty years, (and NO this is not a ringing endorsement of Obama).

Corporations in the US have become too powerful, just look at what it takes to get one to come to your town and create jobs. Taxes are waived, environmental standards are relaxed, and other perks and bonuses are offered. Your almost better off without them. Corporations can now spend limitless money on campaigns, some are trying to become immune to lawsuits, and others just destroy local economies. The CEO's of these companies all act like Pontious Pilot, washing their hands of all the ills their companies comit, and disavowing knowledge of any and all wrong doing.

Corprate America along with Wall Street sicken me, but the worst part is all the managers and leaders of these companies all go to church on Sunday and sit right up front during mass. I wonder if they teach their kids morality or what they do when on the job?

 

[JRK]

Corporations in FY2009 paid 225 billion in US income tax.

So, a math problem:

You want to eliminate those taxes, where do you make up 225 billion in revenue? Who gets to pay the taxes the corporations no longer pay?

The idea of cutting spending just really never occurs to liberals, does it? Government is sooooo great, we couldn't possibly do with even a little less of it

Not to mention that because Cooperation's simply pass the cost of taxes onto their Customers. In the end it is we the consumers who pay that 255 Billion in taxes.

This is so true

 

[Eric Cartman]

The idea of cutting spending just really never occurs to liberals, does it? Government is sooooo great, we couldn't possibly do with even a little less of it

Not to mention that because Cooperation's simply pass the cost of taxes onto their Customers. In the end it is we the consumers who pay that 255 Billion in taxes.

This is so true

Not really... that would assume a company could just raise prices without losing sales.

 

[kaz]

The idea of cutting spending just really never occurs to liberals, does it? Government is sooooo great, we couldn't possibly do with even a little less of it

Not to mention that because Cooperation's simply pass the cost of taxes onto their Customers. In the end it is we the consumers who pay that 255 Billion in taxes.

This is so true

Yep. It's funny how when steel goes up liberals understand prices go up, but when taxes go up they think it comes out of the corporations pocket. Corporations don't pay taxes, they collect them.

The problem is that corporate taxes then are a disincentive to what we want. They tax domestic companies who sell in our market more then foreign ones and they tax efficient companies more then inefficient ones. They tax domestic companies and foreign companies more who have operations in the US and less who don't. The reality of taxes is always the opposite of the description in the liberal marketing brochure.

 

[JRK]

Not to mention that because Cooperation's simply pass the cost of taxes onto their Customers. In the end it is we the consumers who pay that 255 Billion in taxes.

This is so true

Yep. It's funny how when steel goes up liberals understand prices go up, but when taxes go up they think it comes out of the corporations pocket. Corporations don't pay taxes, they collect them.

The problem is that corporate taxes then are a disincentive to what we want. They tax domestic companies who sell in our market more then foreign ones and they tax efficient companies more then inefficient ones. They tax domestic companies and foreign companies more who have operations in the US and less who don't. The reality of taxes is always the opposite of the description in the liberal marketing brochure.

Good discussion
would a tax like Florida and Texas have work?
Where I have an issue with all of this is a corporation is the sum total of people
people pay taxes, not corporations
We have a system that is broke