The U.S. Tax Code

[otto105]

Let's not kid ourselves - ignorance of everything is what fuels leftward sentiments...

New Data Show That Ignorance of US Tax Policy Fuels Leftward Sentiments

Another study conducted in December 2014 found a similar gap between reality and perception in personal income taxes. That year, the top 10% of American earners making $120,000 per year or more earned 41% of all income, but paid 68% of all income taxes.

Americans were fairly accurate when it came to who earns what: They guessed on average that the top 10% of Americans earned 41% of American money, when in fact they made 45% of American money.

But they were pretty far off when it came to guessing the proportion of the nation’s taxes they pay. They guessed the top 10% pays 38% of all taxes, and they were off by 30 points. The top 10% pays 68% of all U.S. taxes.

New Data: Leftward Views on Taxes Often Fueled by Ignorance

The heritage foundation...they write the conclusion first then sprinkle magic pixie of Milton Friedman on top.

 

[easyt65]

'Fair Tax'

One of the simplest and most fair ways to go, which could have greatly reduced the size of - and corrupion within - the IRS ...which is why they did not go with it.

 

[Moonglow]

Stuff like this illustrates the extraordinary ignorance of the left. Their greed blinds them to basic economics, basic business, and basic common sense.

After a lengthy inquiry, the committee found that the company had avoided tens of billions of dollars in taxes by shifting profits into Irish subsidiaries that the panel’s chairman called “ghost companies.”

If the U.S. had the lowest corporate tax rate in the world, guess where every company in the U.S. (and most around the globe) would stash their cash? If you’re not a progressive - you guessed it. In the U.S. Instead of “losing” billions in taxes (as progressives see it), we would be gaining trillions in taxes. Consider the following:

Apple has accumulated more than $128 billion in profits offshore, and probably much more, that is untaxed by the United States and hardly touched by any other country. Nearly all of that was made over the past decade.

If we had even a 10% tax rate, Apple would have gladly brought that money home and we would have generated $12.8 billion in additional tax revenues.

Instead of losing tens of billions in taxes from Apple (as they stashed their cash overseas to avoid the highest corporate tax rates in the world), we could have gained more than twelve billion just from them. Lower tax rates would result in exponentially higher tax revenues to the government. But the left is just too greedy (and stupid) to understand that.

After a Tax Crackdown, Apple Found a New Shelter for Its Profits

The left did not control the govt during the GOP era of Reagan through Boosh II. You'll have to lie better than that...

Hey Dumbass
For the first six years of the Reagan presidency (1981-87) The Republicans controlled the Senate, and the Democrats the House of Representatives In 1986, the Democrats recaptured the Senate (while retaining the House) and thereafter remained in control of both chamber until losing both in 1994.

And they were not the left....The majority was centrist..During Clinton there was GOP congress what's up with that? Taxes go up and down and the GOP has had just as much a chance to lower them as dems have to raise them..In fact Oblama gave a tax cut during his presidency by extending the Bush era tax cuts...Duh...and Congress voted on it...Wow! That is how Congress works....Higher taxes are from higher deductibles for those that play the game of tax avoision....

 

[otto105]

Stuff like this illustrates the extraordinary ignorance of the left. Their greed blinds them to basic economics, basic business, and basic common sense.

After a lengthy inquiry, the committee found that the company had avoided tens of billions of dollars in taxes by shifting profits into Irish subsidiaries that the panel’s chairman called “ghost companies.”

If the U.S. had the lowest corporate tax rate in the world, guess where every company in the U.S. (and most around the globe) would stash their cash? If you’re not a progressive - you guessed it. In the U.S. Instead of “losing” billions in taxes (as progressives see it), we would be gaining trillions in taxes. Consider the following:

Apple has accumulated more than $128 billion in profits offshore, and probably much more, that is untaxed by the United States and hardly touched by any other country. Nearly all of that was made over the past decade.

If we had even a 10% tax rate, Apple would have gladly brought that money home and we would have generated $12.8 billion in additional tax revenues.

Instead of losing tens of billions in taxes from Apple (as they stashed their cash overseas to avoid the highest corporate tax rates in the world), we could have gained more than twelve billion just from them. Lower tax rates would result in exponentially higher tax revenues to the government. But the left is just too greedy (and stupid) to understand that.

After a Tax Crackdown, Apple Found a New Shelter for Its Profits

The left did not control the govt during the GOP era of Reagan through Boosh II. You'll have to lie better than that...

Hey Dumbass
For the first six years of the Reagan presidency (1981-87) The Republicans controlled the Senate, and the Democrats the House of Representatives In 1986, the Democrats recaptured the Senate (while retaining the House) and thereafter remained in control of both chamber until losing both in 1994.

Stating the corporations would bring money back into the US just because we lower the rate is stupid.

 

[Thinker101]

Stuff like this illustrates the extraordinary ignorance of the left. Their greed blinds them to basic economics, basic business, and basic common sense.

After a lengthy inquiry, the committee found that the company had avoided tens of billions of dollars in taxes by shifting profits into Irish subsidiaries that the panel’s chairman called “ghost companies.”

If the U.S. had the lowest corporate tax rate in the world, guess where every company in the U.S. (and most around the globe) would stash their cash? If you’re not a progressive - you guessed it. In the U.S. Instead of “losing” billions in taxes (as progressives see it), we would be gaining trillions in taxes. Consider the following:

Apple has accumulated more than $128 billion in profits offshore, and probably much more, that is untaxed by the United States and hardly touched by any other country. Nearly all of that was made over the past decade.

If we had even a 10% tax rate, Apple would have gladly brought that money home and we would have generated $12.8 billion in additional tax revenues.

Instead of losing tens of billions in taxes from Apple (as they stashed their cash overseas to avoid the highest corporate tax rates in the world), we could have gained more than twelve billion just from them. Lower tax rates would result in exponentially higher tax revenues to the government. But the left is just too greedy (and stupid) to understand that.

After a Tax Crackdown, Apple Found a New Shelter for Its Profits

The left did not control the govt during the GOP era of Reagan through Boosh II. You'll have to lie better than that...

Hey Dumbass
For the first six years of the Reagan presidency (1981-87) The Republicans controlled the Senate, and the Democrats the House of Representatives In 1986, the Democrats recaptured the Senate (while retaining the House) and thereafter remained in control of both chamber until losing both in 1994.

Stating the corporations would bring money back into the US just because we lower the rate is stupid.

Ok.....why do you think they left in the first place?

 

[P@triot]

Stating the corporations would bring money back into the US just because we lower the rate is stupid.

Ok.....why do you think they left in the first place?

He’s a progressive...he doesn’t think at all.

 

[otto105]

Stuff like this illustrates the extraordinary ignorance of the left. Their greed blinds them to basic economics, basic business, and basic common sense.

After a lengthy inquiry, the committee found that the company had avoided tens of billions of dollars in taxes by shifting profits into Irish subsidiaries that the panel’s chairman called “ghost companies.”

If the U.S. had the lowest corporate tax rate in the world, guess where every company in the U.S. (and most around the globe) would stash their cash? If you’re not a progressive - you guessed it. In the U.S. Instead of “losing” billions in taxes (as progressives see it), we would be gaining trillions in taxes. Consider the following:

Apple has accumulated more than $128 billion in profits offshore, and probably much more, that is untaxed by the United States and hardly touched by any other country. Nearly all of that was made over the past decade.

If we had even a 10% tax rate, Apple would have gladly brought that money home and we would have generated $12.8 billion in additional tax revenues.

Instead of losing tens of billions in taxes from Apple (as they stashed their cash overseas to avoid the highest corporate tax rates in the world), we could have gained more than twelve billion just from them. Lower tax rates would result in exponentially higher tax revenues to the government. But the left is just too greedy (and stupid) to understand that.

After a Tax Crackdown, Apple Found a New Shelter for Its Profits

The left did not control the govt during the GOP era of Reagan through Boosh II. You'll have to lie better than that...

Hey Dumbass
For the first six years of the Reagan presidency (1981-87) The Republicans controlled the Senate, and the Democrats the House of Representatives In 1986, the Democrats recaptured the Senate (while retaining the House) and thereafter remained in control of both chamber until losing both in 1994.

Stating the corporations would bring money back into the US just because we lower the rate is stupid.

Ok.....why do you think they left in the first place?

Dude, we are never going to have a lower rate here than rates in tax haven countries. So, can you tell me how working class Irish people are impacted by huge capital flows into country? Has any of your stated impacts happened there due to high inflows of capital.

 

[Thinker101]

Stuff like this illustrates the extraordinary ignorance of the left. Their greed blinds them to basic economics, basic business, and basic common sense.
If the U.S. had the lowest corporate tax rate in the world, guess where every company in the U.S. (and most around the globe) would stash their cash? If you’re not a progressive - you guessed it. In the U.S. Instead of “losing” billions in taxes (as progressives see it), we would be gaining trillions in taxes. Consider the following:
If we had even a 10% tax rate, Apple would have gladly brought that money home and we would have generated $12.8 billion in additional tax revenues.

Instead of losing tens of billions in taxes from Apple (as they stashed their cash overseas to avoid the highest corporate tax rates in the world), we could have gained more than twelve billion just from them. Lower tax rates would result in exponentially higher tax revenues to the government. But the left is just too greedy (and stupid) to understand that.

After a Tax Crackdown, Apple Found a New Shelter for Its Profits

The left did not control the govt during the GOP era of Reagan through Boosh II. You'll have to lie better than that...

Hey Dumbass
For the first six years of the Reagan presidency (1981-87) The Republicans controlled the Senate, and the Democrats the House of Representatives In 1986, the Democrats recaptured the Senate (while retaining the House) and thereafter remained in control of both chamber until losing both in 1994.

Stating the corporations would bring money back into the US just because we lower the rate is stupid.

Ok.....why do you think they left in the first place?

Dude, we are never going to have a lower rate here than rates in tax haven countries. So, can you tell me how working class Irish people are impacted by huge capital flows into country? Has any of your stated impacts happened there due to high inflows of capital.

So you agree, they left due to the high taxes.

 

[otto105]

The left did not control the govt during the GOP era of Reagan through Boosh II. You'll have to lie better than that...

Hey Dumbass
For the first six years of the Reagan presidency (1981-87) The Republicans controlled the Senate, and the Democrats the House of Representatives In 1986, the Democrats recaptured the Senate (while retaining the House) and thereafter remained in control of both chamber until losing both in 1994.

Stating the corporations would bring money back into the US just because we lower the rate is stupid.

Ok.....why do you think they left in the first place?

Dude, we are never going to have a lower rate here than rates in tax haven countries. So, can you tell me how working class Irish people are impacted by huge capital flows into country? Has any of your stated impacts happened there due to high inflows of capital.

So you agree, they left due to the high taxes.

Not at all. I don't think that our corporate tax rate is high.

 

[P@triot]

Not at all. I don't think that our corporate tax rate is high.

It has been the highest in the world...

 

[Thinker101]

Hey Dumbass
For the first six years of the Reagan presidency (1981-87) The Republicans controlled the Senate, and the Democrats the House of Representatives In 1986, the Democrats recaptured the Senate (while retaining the House) and thereafter remained in control of both chamber until losing both in 1994.

Stating the corporations would bring money back into the US just because we lower the rate is stupid.

Ok.....why do you think they left in the first place?

Dude, we are never going to have a lower rate here than rates in tax haven countries. So, can you tell me how working class Irish people are impacted by huge capital flows into country? Has any of your stated impacts happened there due to high inflows of capital.

So you agree, they left due to the high taxes.

Not at all. I don't think that our corporate tax rate is high.

That wasn't the question I asked....doesn't matter.

Great, you say we’re never going to have a lower tax rate here. But, us having the highest is not too high for you.

Let’s cut to the chase. Doing business in America involves more than just taxes, especially if the production facility is in a foreign country. Products have to be shipped into this country, and that costs money. If the taxes and shipping from foreign countries is close to taxes in this country plenty of companies would return. The cost of taxes don’t have to be lower than everyone, they just have to be close enough to make the move attractive.

 

[P@triot]

Dude, we are never going to have a lower rate here than rates in tax haven countries.

Sure we could. We just need to become a “tax haven nation” like the rest of them! See how easy that was?

So, can you tell me how working class Irish people are impacted by huge capital flows into country? Has any of your stated impacts happened there due to high inflows of capital.

Yeah...that “capital” has brought in tax revenue for their government. It has brought in money to loan for business, building, etc. Which in turn has brought in revenue in the form of loan interest.

 

[P@triot]

otto105 has literally reaffirmed my point for everyone to see. Progressives are simply incapable of grasping basic economics. They are too blinded by their ideology.

What is 0% (the amount the U.S. government received from Apple’s offshore stash) of $128 billion?

Answer: $0.00

Now...what is 10% of $128 billion?

Answer: $12.8 billion

What is more? $0.00 or $12.8 billion?

Answer: $12,800,000,000 > $0.00

Yes folks...the left really is that stupid. They can’t even understand something this basic. We lose out on trillions so that they can feel better about seeing a 40% corporate tax rate even though that corporate tax rate often results in $0.00.

 

[otto105]

Stating the corporations would bring money back into the US just because we lower the rate is stupid.

Ok.....why do you think they left in the first place?

Dude, we are never going to have a lower rate here than rates in tax haven countries. So, can you tell me how working class Irish people are impacted by huge capital flows into country? Has any of your stated impacts happened there due to high inflows of capital.

So you agree, they left due to the high taxes.

Not at all. I don't think that our corporate tax rate is high.

That wasn't the question I asked....doesn't matter.

Great, you say we’re never going to have a lower tax rate here. But, us having the highest is not too high for you.


Let’s cut to the chase. Doing business in America involves more than just taxes, especially if the production facility is in a foreign country. Products have to be shipped into this country, and that costs money. If the taxes and shipping from foreign countries is close to taxes in this country plenty of companies would return. The cost of taxes don’t have to be lower than everyone, they just have to be close enough to make the move attractive.

Great, you say we’re never going to have a lower tax rate here. But, us having the highest is not too high for you.

Let’s cut to the chase. Doing business in America involves more than just taxes, especially if the production facility is in a foreign country. Products have to be shipped into this country, and that costs money. If the taxes and shipping from foreign countries is close to taxes in this country plenty of companies would return. The cost of taxes don’t have to be lower than everyone, they just have to be close enough to make the move attractive.

We have one of the highest statutory of developed nations, but one of the lower effective rates that corporations actually pay. So your argument is misleading and dumb.

The American company Apple has it's HQ in Ireland and it's production facilities in China. In fact no corporations have productions facilities in Ireland, just tax avoiding HQ PO boxes.

 

[Thinker101]

Ok.....why do you think they left in the first place?

Dude, we are never going to have a lower rate here than rates in tax haven countries. So, can you tell me how working class Irish people are impacted by huge capital flows into country? Has any of your stated impacts happened there due to high inflows of capital.

So you agree, they left due to the high taxes.

Not at all. I don't think that our corporate tax rate is high.

That wasn't the question I asked....doesn't matter.

Great, you say we’re never going to have a lower tax rate here. But, us having the highest is not too high for you.


Let’s cut to the chase. Doing business in America involves more than just taxes, especially if the production facility is in a foreign country. Products have to be shipped into this country, and that costs money. If the taxes and shipping from foreign countries is close to taxes in this country plenty of companies would return. The cost of taxes don’t have to be lower than everyone, they just have to be close enough to make the move attractive.

Great, you say we’re never going to have a lower tax rate here. But, us having the highest is not too high for you.

Let’s cut to the chase. Doing business in America involves more than just taxes, especially if the production facility is in a foreign country. Products have to be shipped into this country, and that costs money. If the taxes and shipping from foreign countries is close to taxes in this country plenty of companies would return. The cost of taxes don’t have to be lower than everyone, they just have to be close enough to make the move attractive.

We have one of the highest statutory of developed nations, but one of the lower effective rates that corporations actually pay. So your argument is misleading and dumb.

The American company Apple has it's HQ in Ireland and it's production facilities in China. In fact no corporations have productions facilities in Ireland, just tax avoiding HQ PO boxes.

Sigh....and Apple is the only company we're concerned about?

 

[P@triot]

The American company Apple has it's HQ in Ireland and it's production facilities in China. In fact no corporations have productions facilities in Ireland, just tax avoiding HQ PO boxes.

Exactly...stupid. That’s the entire point here. Our insanely high corporate tax rate causes businesses to take these idiotic steps.

Good grief you are dumb.

 

[otto105]

otto105 has literally reaffirmed my point for everyone to see. Progressives are simply incapable of grasping basic economics. They are too blinded by their ideology.

What is 0% (the amount the U.S. government received from Apple’s offshore stash) of $128 billion?

Answer: $0.00

Now...what is 10% of $128 billion?

Answer: $12.8 billion

What is more? $0.00 or $12.8 billion?

Answer: $12,800,000,000 > $0.00

Yes folks...the left really is that stupid. They can’t even understand something this basic. We lose out on trillions so that they can feel better about seeing a 40% corporate tax rate even though that corporate tax rate often results in $0.00.

Your post is a myth. Apple doesn't have 128 billion stashed in just one country and won't bring back any money just to pay reduced US Taxes.

 

[P@triot]

otto105 has literally reaffirmed my point for everyone to see. Progressives are simply incapable of grasping basic economics. They are too blinded by their ideology.

What is 0% (the amount the U.S. government received from Apple’s offshore stash) of $128 billion?

Answer: $0.00

Now...what is 10% of $128 billion?

Answer: $12.8 billion

What is more? $0.00 or $12.8 billion?

Answer: $12,800,000,000 > $0.00

Yes folks...the left really is that stupid. They can’t even understand something this basic. We lose out on trillions so that they can feel better about seeing a 40% corporate tax rate even though that corporate tax rate often results in $0.00.

Your post is a myth. Apple doesn't have 128 billion stashed in just one country and won't bring back any money just to pay reduced US Taxes.

My post is 100% fact. Your post is immature denial built from blind devotion to a failed ideology.

America received exactly $0.00 of Apple’s $128 billion stash. All because people like you are too dumb and too greedy to do what we need to do to prosper.

Venezuela did it your way. How is that working out, chief?

 

[otto105]

The American company Apple has it's HQ in Ireland and it's production facilities in China. In fact no corporations have productions facilities in Ireland, just tax avoiding HQ PO boxes.

Exactly...stupid. That’s the entire point here. Our insanely high corporate tax rate causes businesses to take these idiotic steps.

Good grief you are dumb.

Hey stupid, what are those insanely high tax rates?

The fact that you're trying to win the race to zero mean that you don't understand shit.

If republic pols wanted to keep US profits in country just pass a law regarding corporate inversions.

 

[otto105]

otto105 has literally reaffirmed my point for everyone to see. Progressives are simply incapable of grasping basic economics. They are too blinded by their ideology.

What is 0% (the amount the U.S. government received from Apple’s offshore stash) of $128 billion?

Answer: $0.00

Now...what is 10% of $128 billion?

Answer: $12.8 billion

What is more? $0.00 or $12.8 billion?

Answer: $12,800,000,000 > $0.00

Yes folks...the left really is that stupid. They can’t even understand something this basic. We lose out on trillions so that they can feel better about seeing a 40% corporate tax rate even though that corporate tax rate often results in $0.00.

Your post is a myth. Apple doesn't have 128 billion stashed in just one country and won't bring back any money just to pay reduced US Taxes.

My post is 100% fact. Your post is immature denial built from blind devotion to a failed ideology.

America received exactly $0.00 of Apple’s $128 billion stash. All because people like you are too dumb and too greedy to do what we need to do to prosper.

Venezuela did it your way. How is that working out, chief?

Venezuela did what?

Can you explain?