America’s wealthiest families smash income ceiling, middle-class left far behind

[bripat9643]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

You trying to be as stupid as the rabbit? You did it.

How the fuck do you pay taxes on a loss? ie, "corporation that had a net taxable income of minus $10 billion?"
That sentence doesn't even make sense. Net taxable income on a 10 billion loss. Good god you are dumb.

The drones who keep talking about "effective tax" rate obviously aren't using net taxable income to do the calculation. Otherwise they would come up with a tax rate of 35%, so they must be using gross revenues. If that's the case, then a company with a positive effective tax rate could easily have suffered a loss.

Of course, none of you turds will show how the calculation is done. Until you do, you're a bunch of lying assholes.

Tax rates are different than tax rebates or tax deductions.

Actual paid is what he is discussing.

26 top American corporations paid no federal income tax from 08 to 12 report RT USA

The process is America giving tax breaks for "good spending" and accountants manipulating the system just like a "Extreme Couponing".

The grocery store is surprised when they realized someone could buy a cart full for no money via an EXPLOIT.

Yet you don't seem to understand this on a bigger and more important scale..I mean, Pepco had a -33% tax rate last year after these adjustments......

Or perhaps you think America should allow Pepco to pay no taxes AND give them money..........

For a given taxable income, the tax paid should be the same. So if "effective tax rate" is based on taxable income, then what you guys are claiming is total fucking bullshit. You can't possible have a -33% tax rate if your taxable income is anything larger than zero. That's the law. Just check with your accountant.

 

[bripat9643]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

You trying to be as stupid as the rabbit? You did it.

How the fuck do you pay taxes on a loss? ie, "corporation that had a net taxable income of minus $10 billion?"
That sentence doesn't even make sense. Net taxable income on a 10 billion loss. Good god you are dumb.

The drones who keep talking about "effective tax" rate obviously aren't using net taxable income to do the calculation. Otherwise they would come up with a tax rate of 35%, so they must be using gross revenues. If that's the case, then a company with a positive effective tax rate could easily have suffered a loss.

Of course, none of you turds will show how the calculation is done. Until you do, you're a bunch of lying assholes.

Tax rates are different than tax rebates or tax deductions.

Actual paid is what he is discussing.

26 top American corporations paid no federal income tax from 08 to 12 report RT USA

The process is America giving tax breaks for "good spending" and accountants manipulating the system just like a "Extreme Couponing".

The grocery store is surprised when they realized someone could buy a cart full for no money via an EXPLOIT.

Yet you don't seem to understand this on a bigger and more important scale..I mean, Pepco had a -33% tax rate last year after these adjustments......

Or perhaps you think America should allow Pepco to pay no taxes AND give them money..........

After which adjustments? I'm certain your claims are total horseshit. They are fabricated from whole cloth. Please show the math where Pepco's effective tax rate is calculated. Show their taxable income for each year discussed, and show the amount of tax paid to the IRS. I guarantee you that you won't be able to pull out any -33 % figure based on the inputs.

 

[AntiParty]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

You trying to be as stupid as the rabbit? You did it.

How the fuck do you pay taxes on a loss? ie, "corporation that had a net taxable income of minus $10 billion?"
That sentence doesn't even make sense. Net taxable income on a 10 billion loss. Good god you are dumb.

The drones who keep talking about "effective tax" rate obviously aren't using net taxable income to do the calculation. Otherwise they would come up with a tax rate of 35%, so they must be using gross revenues. If that's the case, then a company with a positive effective tax rate could easily have suffered a loss.

Of course, none of you turds will show how the calculation is done. Until you do, you're a bunch of lying assholes.

Tax rates are different than tax rebates or tax deductions.

Actual paid is what he is discussing.

26 top American corporations paid no federal income tax from 08 to 12 report RT USA

The process is America giving tax breaks for "good spending" and accountants manipulating the system just like a "Extreme Couponing".

The grocery store is surprised when they realized someone could buy a cart full for no money via an EXPLOIT.

Yet you don't seem to understand this on a bigger and more important scale..I mean, Pepco had a -33% tax rate last year after these adjustments......

Or perhaps you think America should allow Pepco to pay no taxes AND give them money..........

After which adjustments? I'm certain your claims are total horseshit. They are fabricated from whole cloth. Please show the math where Pepco's effective tax rate is calculated. Show their taxable income for each year discussed, and show the amount of tax paid to the IRS. I guarantee you that you won't be able to pull out any -33 % figure based on the inputs.

^Holy cow, this kid needs to do his own homework.

I'm sure you think Pepco is the only one because this is the first time YOU have heard about this.

Try to do more homework on the topic before discussing it. You just sound dumb.

 

[bripat9643]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

You trying to be as stupid as the rabbit? You did it.

How the fuck do you pay taxes on a loss? ie, "corporation that had a net taxable income of minus $10 billion?"
That sentence doesn't even make sense. Net taxable income on a 10 billion loss. Good god you are dumb.

The drones who keep talking about "effective tax" rate obviously aren't using net taxable income to do the calculation. Otherwise they would come up with a tax rate of 35%, so they must be using gross revenues. If that's the case, then a company with a positive effective tax rate could easily have suffered a loss.

Of course, none of you turds will show how the calculation is done. Until you do, you're a bunch of lying assholes.

Tax rates are different than tax rebates or tax deductions.

Actual paid is what he is discussing.

26 top American corporations paid no federal income tax from 08 to 12 report RT USA

The process is America giving tax breaks for "good spending" and accountants manipulating the system just like a "Extreme Couponing".

The grocery store is surprised when they realized someone could buy a cart full for no money via an EXPLOIT.

Yet you don't seem to understand this on a bigger and more important scale..I mean, Pepco had a -33% tax rate last year after these adjustments......

Or perhaps you think America should allow Pepco to pay no taxes AND give them money..........

After which adjustments? I'm certain your claims are total horseshit. They are fabricated from whole cloth. Please show the math where Pepco's effective tax rate is calculated. Show their taxable income for each year discussed, and show the amount of tax paid to the IRS. I guarantee you that you won't be able to pull out any -33 % figure based on the inputs.

^Holy cow, this kid needs to do his own homework.

I'm sure you think Pepco is the only one because this is the first time YOU have heard about this.

Try to do more homework on the topic before discussing it. You just sound dumb.

In other words, you can't do the math and show how the figure was calculated.

Just as I thought.

All these claims about "effective tax rate" are utter horseshit.

 

[bripat9643]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

You trying to be as stupid as the rabbit? You did it.

How the fuck do you pay taxes on a loss? ie, "corporation that had a net taxable income of minus $10 billion?"
That sentence doesn't even make sense. Net taxable income on a 10 billion loss. Good god you are dumb.

The drones who keep talking about "effective tax" rate obviously aren't using net taxable income to do the calculation. Otherwise they would come up with a tax rate of 35%, so they must be using gross revenues. If that's the case, then a company with a positive effective tax rate could easily have suffered a loss.

Of course, none of you turds will show how the calculation is done. Until you do, you're a bunch of lying assholes.

Tax rates are different than tax rebates or tax deductions.

Actual paid is what he is discussing.

26 top American corporations paid no federal income tax from 08 to 12 report RT USA

The process is America giving tax breaks for "good spending" and accountants manipulating the system just like a "Extreme Couponing".

The grocery store is surprised when they realized someone could buy a cart full for no money via an EXPLOIT.

Yet you don't seem to understand this on a bigger and more important scale..I mean, Pepco had a -33% tax rate last year after these adjustments......

Or perhaps you think America should allow Pepco to pay no taxes AND give them money..........

After which adjustments? I'm certain your claims are total horseshit. They are fabricated from whole cloth. Please show the math where Pepco's effective tax rate is calculated. Show their taxable income for each year discussed, and show the amount of tax paid to the IRS. I guarantee you that you won't be able to pull out any -33 % figure based on the inputs.

^Holy cow, this kid needs to do his own homework.

I'm sure you think Pepco is the only one because this is the first time YOU have heard about this.

Try to do more homework on the topic before discussing it. You just sound dumb.

Pepco paid the federal taxes it owed - The Washington Post

During this economic downturn, policy objectives were developed to encourage economic investment and create jobs. One action was to allow greater accelerated depreciation on new capital investments. Policymakers wanted to give companies incentives to invest and create jobs. In support of this objective, a company could deduct 50 percent of an investment in year one, lowering its federal taxable income and reducing the amount of taxes owed. These policy objectives are economic incentives, not “loopholes.”


Over the three years noted in the article, Pepco Holdings made approximately $2 billion worth of capital investments in its infrastructure, which improved reliability. More than 50 percent was allowable as a current deduction against taxable income. By contrast, the company reported financial pre-tax earnings of approximately $690 million over this period. The accelerated depreciation of Pepco Holdings’ capital investments and significant contributions the company made to the employee pension plan are the primary reasons for the negative tax rate computed in the study.
​

Pepco's taxable income was therefore less than zero. How does one arrive at an "effective tax rate" of -33% when the denominator in the equation is less than zero?

 

[SteadyMercury]

Any time you have a loss you have to recover, dummy. Millions of Americans lost all or part of their retirement when BushCo crashed the economy

Exactly who are these people who lost all their retirement? Even someone invested 100% in stocks would have lost half, are you under the impression the stock market went to zero? Maybe you are thinking the average Joe had all his retirement money in Lehman stock?

some have recovered the amount lost, but will forever not recover the money lost from losses in investing the original

If you had money invested in stocks 2007, you gained it all back by 2013 and have enjoyed a massive bull market since. Bonds enjoyed a bull market that has been going on for decades. This is as stupid as you bringing up an economiccollapseblog article from 2011 that laments gas prices, you are just desperately searching for something to back up your asinine claim that middle class Americans are living in a nightmare and you are failing at it miserably.

If you are going to try to keep up this feeble attempt at pretending to be a wealthy businessman, at least stop posting about anything that demonstrates how utterly stupid you are.

 

[Toddsterpatriot]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

The only scam is YOU. Go away Canadian!

Effective Tax Rate Definition Investopedia

Thanks for the link!!!

For corporations, the effective tax rate is computed by dividing total tax expenses by the firm's earnings before taxes.

Berkshire's 2013 effective tax rate was 31.08%.
When you said it was low single digits, were you lying, or just stupid?

Why is it calculated differently?

What?

 

[zeke]

Exactly who are these people who lost all their retirement?

Dude. If you lost your job, sold your investment holdings at the bottom of the collapse, withdrew what ever was left to live on (seeing as how your job was gone) you are the one that lost all your retirement monies.

And that happened to a lot of people. Hope that helps you figures some things out. But I doubt it.

 

[SteadyMercury]

Dude. If you lost your job, sold your investment holdings at the bottom of the collapse, withdrew what ever was left to live on (seeing as how your job was gone) you are the one that lost all your retirement monies.

And that happened to a lot of people. Hope that helps you figures some things out. But I doubt it.

Okay, about how many people do this scenario happen to out of the hundreds of million we consider middle class Americans?

For decades now we see report after report of how little the average American has saved for retirement, but now suddenly everyone had retirement savings that they sold at the bottom of the market (taking the penalty) after a job loss to support themselves. I find that hard to believe, and I submit this happening was the rare exception. I'd submit that for middle class Americans the overwhelming majority of wealth loss during the great recession was home equity.

So prove me wrong, what percentage of Americans sold all their investments at the bottom of the market? Surely you have some idea since you presented this scenario.

 

[OnePercenter]

Any time you have a loss you have to recover, dummy. Millions of Americans lost all or part of their retirement when BushCo crashed the economy

Exactly who are these people who lost all their retirement? Even someone invested 100% in stocks would have lost half, are you under the impression the stock market went to zero? Maybe you are thinking the average Joe had all his retirement money in Lehman stock?

some have recovered the amount lost, but will forever not recover the money lost from losses in investing the original

If you had money invested in stocks 2007, you gained it all back by 2013 and have enjoyed a massive bull market since. Bonds enjoyed a bull market that has been going on for decades. This is as stupid as you bringing up an economiccollapseblog article from 2011 that laments gas prices, you are just desperately searching for something to back up your asinine claim that middle class Americans are living in a nightmare and you are failing at it miserably.

If you are going to try to keep up this feeble attempt at pretending to be a wealthy businessman, at least stop posting about anything that demonstrates how utterly stupid you are.

Quit kidding yourself. The 2008 Bush/Republican/corporate America/wall street crash cost the middle class $20 trillion in lost investment/retirement income.

 

[Toddsterpatriot]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

The only scam is YOU. Go away Canadian!

Effective Tax Rate Definition Investopedia

Thanks for the link!!!

For corporations, the effective tax rate is computed by dividing total tax expenses by the firm's earnings before taxes.

Berkshire's 2013 effective tax rate was 31.08%.
When you said it was low single digits, were you lying, or just stupid?

 

[SteadyMercury]

Quit kidding yourself. The 2008 Bush/Republican/corporate America/wall street crash cost the middle class $20 trillion in lost investment/retirement income.

Hey you'd be perfect writing for your preferred source theeconomiccollapseblog, take a big scary number and believe it somehow proves the bullshit you've been slinging.

How much was gained their money back when the market came back and went higher than pre-recession? How many of the 200+ million Americans we define as middle class fell into this corner case scenario you painted of having lost everything because they cashed out at the bottom? Surely you know these things since you're leaning on them to support you stupid "middle class is living a nightmare" drama queen statements.

 

[SteadyMercury]

When you said it was low single digits, were you lying, or just stupid?

Both, but I'd say with OnePercenter there is a lot more stupid than lying. He's one dull bulb who makes stupid claims then makes even stupider posts trying to defend them.

 

[Daryl Hunt]

If the rich aren't paying their fair share. I agree that we should raise it to a equal percentage with the non-rich. Only fair.

But the rich are paying a higher percentage than the non-rich.
Why would you lower what the rich pay?

I paid an average of 27% in 2011. The Rich paid an average of 13% in 2011. What has been presented shows it's even more of a disparity in income but chances are, the percentages will remain about the same. I also doubled my income in 2012 over 2013. I retired. So keep sending those deposits to me since I more than paid for it already.

 

[OnePercenter]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

The only scam is YOU. Go away Canadian!

Effective Tax Rate Definition Investopedia

Thanks for the link!!!

For corporations, the effective tax rate is computed by dividing total tax expenses by the firm's earnings before taxes.

Berkshire's 2013 effective tax rate was 31.08%.
When you said it was low single digits, were you lying, or just stupid?

That's because effective tax is 'figured' differently for corporations vs. individuals. Can you tell us why?

 

[OnePercenter]

Quit kidding yourself. The 2008 Bush/Republican/corporate America/wall street crash cost the middle class $20 trillion in lost investment/retirement income.

Hey you'd be perfect writing for your preferred source theeconomiccollapseblog, take a big scary number and believe it somehow proves the bullshit you've been slinging.

How much was gained their money back when the market came back and went higher than pre-recession? How many of the 200+ million Americans we define as middle class fell into this corner case scenario you painted of having lost everything because they cashed out at the bottom? Surely you know these things since you're leaning on them to support you stupid "middle class is living a nightmare" drama queen statements.

You don't think that the middle class lost $20 trillion in investments due to the 2008 economic crash?

 

[OnePercenter]

When you said it was low single digits, were you lying, or just stupid?

Both, but I'd say with OnePercenter there is a lot more stupid than lying. He's one dull bulb who makes stupid claims then makes even stupider posts trying to defend them.

The fact that I've made more money in 2014 than you'll make in your entire life scare you a bit?

 

[OnePercenter]

If the rich aren't paying their fair share. I agree that we should raise it to a equal percentage with the non-rich. Only fair.

But the rich are paying a higher percentage than the non-rich.
Why would you lower what the rich pay?

I paid an average of 27% in 2011. The Rich paid an average of 13% in 2011. What has been presented shows it's even more of a disparity in income but chances are, the percentages will remain about the same. I also doubled my income in 2012 over 2013. I retired. So keep sending those deposits to me since I more than paid for it already.

If you paid 27% in 2011 you made north of $250K and went to H&R Block to have you taxes done.

 

[Toddsterpatriot]

If the rich aren't paying their fair share. I agree that we should raise it to a equal percentage with the non-rich. Only fair.

But the rich are paying a higher percentage than the non-rich.
Why would you lower what the rich pay?

I paid an average of 27% in 2011. The Rich paid an average of 13% in 2011. What has been presented shows it's even more of a disparity in income but chances are, the percentages will remain about the same. I also doubled my income in 2012 over 2013. I retired. So keep sending those deposits to me since I more than paid for it already.

I paid an average of 27% in 2011

What was your income? How much did you pay in taxes?
What income level are "The Rich"? What makes you think they paid 13%?

 

[SteadyMercury]

The fact that I've made more money in 2014 than you'll make in your entire life scare you a bit?

See this is where you fail. I've made it clear several times that I don't believe this low self-esteem prop up fantasy life you try desperately to portray of being some rich successful businessman. You are far too stupid and I've seen too many people who actually know business expose you, you don't fool anyone.

Therefore your constant attempts to trump every argument you're losing (which is pretty much all of them) by falling back on the "I'm rich so I'm right" like you did in above post cannot work. It would first require me believing your Walter Mitty tales, which I do not.

I'd be surprised if you've moved out of your parents house.