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

[OnePercenter]

Of course the middle class is getting screwed. When government becomes the means of distributing wealth, two groups win - the elite, and the mob. And really, only the elite. But they can manage to convince the mob they're winning too.

You mean the elite and corporate America.

 

[OnePercenter]

For the middle class!! NOT for the super rich 1%!!! We should make shifting their money away from taxes illegal. Anyone found doing it should go to prison.

We should make shifting their money away from taxes illegal.

Can you explain what you mean by "shifting their money away from taxes "?

To another country in order to avoid paying the taxes...

That's already illegal.

Liar. Never heard of inversion or double Irish huh? lol

The double Irish arrangement is a tax avoidance strategy that some multinational corporations use to lower their corporate tax liability. The strategy uses payments between related entities in a corporate structure to shift income from a higher-tax country to a lower-tax country. It relies on the fact that Irish tax law does not include US transfer pricing rules. Specifically, Ireland has territorial taxation, and hence does not levy taxes on income booked in subsidiaries of Irish companies that are outside the state.

Double Irish arrangement - Wikipedia the free encyclopedia

Never heard of inversion or double Irish huh?

Great, I'll invert my personal taxes ASAP.

a tax avoidance strategy that some multinational corporations

Darn it, your excellent suggestion doesn't work for the 1%, only corporations.

You haven't heard of family trust corporations?

 

[Toddsterpatriot]

Wrong. You're adding an additional 30% of revenue onto their expenses.

Is that Canadian math?

Follow along goofball.

Under my plan. A company with 300 or less employees.

A $10M/yr revenue company will have a $3M federal tax.

Subtract employee costs and state/local taxes 1 to 1 from the $3M reducing federal tax to zero.

If employee and state/local taxes are more than $3M (which they are) the feds give a subsidy check back.

That would be true if you're paying tax on revenue. But you're not. You're paying tax on profits...

That was quoting part of my plan.


-Base Federal tax or corporations at 30% of revenue.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 400 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

You can't tax the revenue.

If you produce 1 million widgets at production cost of 95 cents apiece (material, labor, utilities, expenses), and sell them at $1 apiece, your revenue is $1 million, but your profit is $50k. If you tax revenue at 30% company will be at $200k in red. What would happen is, company will lower wages 20% just to break even.

I'll go slow.

My company grossed $100M 2014. Under my plan, the federal tax would be 30% of revenue, which would be $30M. Also under my plan, employee expenses and state/local tax ($38M) are deductible dollar for dollar from federal tax. That would make my federal tax obligation zero, and I would receive a check for $8M from the feds. I could hire more people with a net cost of zero.

That would make my federal tax obligation zero, and I would receive a check for $8M from the feds.

You want the Feds to give an evil rich guy, you, $8 million dollars?

I could hire more people with a net cost of zero.

Because the benefits will trickle down? LOL!

 

[Toddsterpatriot]

We should make shifting their money away from taxes illegal.

Can you explain what you mean by "shifting their money away from taxes "?

To another country in order to avoid paying the taxes...

That's already illegal.

Liar. Never heard of inversion or double Irish huh? lol

The double Irish arrangement is a tax avoidance strategy that some multinational corporations use to lower their corporate tax liability. The strategy uses payments between related entities in a corporate structure to shift income from a higher-tax country to a lower-tax country. It relies on the fact that Irish tax law does not include US transfer pricing rules. Specifically, Ireland has territorial taxation, and hence does not levy taxes on income booked in subsidiaries of Irish companies that are outside the state.

Double Irish arrangement - Wikipedia the free encyclopedia

Never heard of inversion or double Irish huh?

Great, I'll invert my personal taxes ASAP.

a tax avoidance strategy that some multinational corporations

Darn it, your excellent suggestion doesn't work for the 1%, only corporations.

You haven't heard of family trust corporations?

Please explain how your imaginary trust makes your tax rate, whatever imaginary tax rate you pay.

 

[RKMBrown]

Wrong. You're adding an additional 30% of revenue onto their expenses.

Is that Canadian math?

Follow along goofball.

Under my plan. A company with 300 or less employees.

A $10M/yr revenue company will have a $3M federal tax.

Subtract employee costs and state/local taxes 1 to 1 from the $3M reducing federal tax to zero.

If employee and state/local taxes are more than $3M (which they are) the feds give a subsidy check back.

That would be true if you're paying tax on revenue. But you're not. You're paying tax on profits...

That was quoting part of my plan.


-Base Federal tax or corporations at 30% of revenue.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 400 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

You can't tax the revenue.

If you produce 1 million widgets at production cost of 95 cents apiece (material, labor, utilities, expenses), and sell them at $1 apiece, your revenue is $1 million, but your profit is $50k. If you tax revenue at 30% company will be at $200k in red. What would happen is, company will lower wages 20% just to break even.

I'll go slow.

My company grossed $100M 2014. Under my plan, the federal tax would be 30% of revenue, which would be $30M. Also under my plan, employee expenses and state/local tax ($38M) are deductible dollar for dollar from federal tax. That would make my federal tax obligation zero, and I would receive a check for $8M from the feds. I could hire more people with a net cost of zero.

Moron.

 

[OnePercenter]

I know, taxes is too damn high!

What was your effective federal rate for 2014?

 

[dblack]

Of course the middle class is getting screwed. When government becomes the means of distributing wealth, two groups win - the elite, and the mob. And really, only the elite. But they can manage to convince the mob they're winning too.

You mean the elite and corporate America.

Exactly. All these games we play with tax code, in the name of 'social justice' and the 'general welfare', only feed their domination.

 

[Toddsterpatriot]

I know, taxes is too damn high!

What was your effective federal rate for 2014?

What was your effective federal rate for 2014?

What was Berkshire Hathaway's?

 

[OnePercenter]

I know, taxes is too damn high!

What was your effective federal rate for 2014?

What was your effective federal rate for 2014?

What was Berkshire Hathaway's?

Comparable with yours, a lot less.

Answer the question: What was your effective federal rate for 2014?

 

[OnePercenter]

Moron.

I've reduced all taxes/fees/employee costs to 30% and you call me a moron? Take a business class.

 

[OnePercenter]

That would make my federal tax obligation zero, and I would receive a check for $8M from the feds.

You want the Feds to give an evil rich guy, you, $8 million dollars?

I could hire more people with a net cost of zero.

Because the benefits will trickle down? LOL!

No such thing as trickle down.

 

[OnePercenter]

Please explain how your imaginary trust makes your tax rate, whatever imaginary tax rate you pay.

I already have numerous times. If you're having short term memory problems you need to seek help.

 

[Toddsterpatriot]

I know, taxes is too damn high!

What was your effective federal rate for 2014?

What was your effective federal rate for 2014?

What was Berkshire Hathaway's?

Comparable with yours, a lot less.

Answer the question: What was your effective federal rate for 2014?

Comparable with yours, a lot less.

Berkshire Hathaway's was comparable to mine?
Great, what was Berkshire's effective rate?

 

[Toddsterpatriot]

That would make my federal tax obligation zero, and I would receive a check for $8M from the feds.

You want the Feds to give an evil rich guy, you, $8 million dollars?

I could hire more people with a net cost of zero.

Because the benefits will trickle down? LOL!

No such thing as trickle down.

No such thing as trickle down.

Then why do liberals whine about something that doesn't exist?

 

[Toddsterpatriot]

Please explain how your imaginary trust makes your tax rate, whatever imaginary tax rate you pay.

I already have numerous times. If you're having short term memory problems you need to seek help.

You posted some lies about trusts.
Try again?

 

[OnePercenter]

That would make my federal tax obligation zero, and I would receive a check for $8M from the feds.

You want the Feds to give an evil rich guy, you, $8 million dollars?

I could hire more people with a net cost of zero.

Because the benefits will trickle down? LOL!

No such thing as trickle down.

No such thing as trickle down.

Then why do liberals whine about something that doesn't exist?

Because Republicans say it does exist.

 

[OnePercenter]

Please explain how your imaginary trust makes your tax rate, whatever imaginary tax rate you pay.

I already have numerous times. If you're having short term memory problems you need to seek help.

You posted some lies about trusts.
Try again?

Which lie?

 

[OnePercenter]

I know, taxes is too damn high!

What was your effective federal rate for 2014?

What was your effective federal rate for 2014?

What was Berkshire Hathaway's?

Comparable with yours, a lot less.

Answer the question: What was your effective federal rate for 2014?

Comparable with yours, a lot less.

Berkshire Hathaway's was comparable to mine?
Great, what was Berkshire's effective rate?

What was your effective federal rate for 2014?

 

[Toddsterpatriot]

That would make my federal tax obligation zero, and I would receive a check for $8M from the feds.

You want the Feds to give an evil rich guy, you, $8 million dollars?

I could hire more people with a net cost of zero.

Because the benefits will trickle down? LOL!

No such thing as trickle down.

No such thing as trickle down.

Then why do liberals whine about something that doesn't exist?

Because Republicans say it does exist.

I've never heard a Republican say that.
Got a link?

 

[Toddsterpatriot]

Please explain how your imaginary trust makes your tax rate, whatever imaginary tax rate you pay.

I already have numerous times. If you're having short term memory problems you need to seek help.

You posted some lies about trusts.
Try again?

Which lie?

You don't remember.
That's the problem when you lie so much, you lose track.