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

Discussion in 'Politics' started by JRK, Mar 29, 2011.

  1. JRK
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    JRK Senior Member

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    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
     
  2. 8537
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    8537 Senior Member

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


    Tell that to General Electric.
     
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  3. WillowTree
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    WillowTree Diamond Member

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    What in the hell did you just say? :eusa_eh:
     
  4. VaYank5150
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    VaYank5150 Gold Member

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    I see you are new to USMB. Are you also new to the United States?
     
  5. JRK
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    JRK Senior Member

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    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
     
  6. NYcarbineer
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    NYcarbineer Diamond Member

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    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?
     
  7. JRK
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    JRK Senior Member

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    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
     
  8. LordBrownTrout
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    LordBrownTrout Gold Member

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    I wonder why GE gets such a sweet deal?
     
  9. JRK
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    JRK Senior Member

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    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
     
  10. kaz
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    kaz Diamond Member

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    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
     

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