Carson's tax plan: The epitome of stupid, meaningless, babble.

[SwimExpert]

During last night's debate, Carson defended his "tithe style" tax plan, saying that it would easily pay for the cost of government. In doing so, he underscored his own flagrant stupidity on all things relating to governance, and the fact that his entire candidacy is based on saying things that he hopes people will like hearing, while having absolutely zero grip on reality.

According to Carson, his plan would involve a simple 15% flat tax. When challenged as to whether this would or would not result in a more than $1 trillion deficit as suggested by some he explained as follows: The US GDP is roughly $18 trillion. A 15% tax would thus equal roughly $2.7 trillion of the needed $3.5 trillion. Furthermore after the tax is levied against corporate profits, the remainder would be covered.

The ridiculousness of this is that GDP already includes corporate profits. Carson, therefore, is presuming that corporate profits be taxed twice, effectively a 30% corporate tax. Carson continued to explain that loopholes and deductions would need to be removed from the picture in order to make his tax plan work. As things currently stand, the US has a corporate tax scheme where rates are anywhere from 15% to 35% on profits. However, various loopholes and deductions result in lower effective tax rates, with some corporations accruing a $0 tax liability. Carson has stated before that he wants to lower corporate taxes, and yet it would in fact seem that he wants to quietly and secretly raise actual corporate taxes, because that is exactly the effect of what he is claiming regarding his tax plan.

Either that, or he's just a moron spouting meaningless babble.

 

[Arianrhod]

Brace yourself for "You just hate Carson because he's black" in five, four, three...

 

[Siete]

and Carson is smarter than Trump ... both will fade eventually ..

 

[SwimExpert]

Brace yourself for "You just hate Carson because he's black" in five, four, three...

Looks like they're all afraid to say anything. I guess the mathematics are not their strong suit.

 

[TooTall]

Brace yourself for "You just hate Carson because he's black" in five, four, three...

That only happens when someone disagrees with Obama.

 

[Arianrhod]

Brace yourself for "You just hate Carson because he's black" in five, four, three...

Looks like they're all afraid to say anything. I guess the mathematics are not their strong suit.

Eventually they'll call you a liar, then post a 15-second clip from last night's debate that they think says the opposite of what you described.

Meanwhile, you can bet the corporate types are huddling in the executive suite strategizing how to "take this guy down."

 

[TooTall]

During last night's debate, Carson defended his "tithe style" tax plan, saying that it would easily pay for the cost of government. In doing so, he underscored his own flagrant stupidity on all things relating to governance, and the fact that his entire candidacy is based on saying things that he hopes people will like hearing, while having absolutely zero grip on reality.

According to Carson, his plan would involve a simple 15% flat tax. When challenged as to whether this would or would not result in a more than $1 trillion deficit as suggested by some he explained as follows: The US GDP is roughly $18 trillion. A 15% tax would thus equal roughly $2.7 trillion of the needed $3.5 trillion. Furthermore after the tax is levied against corporate profits, the remainder would be covered.

The ridiculousness of this is that GDP already includes corporate profits. Carson, therefore, is presuming that corporate profits be taxed twice, effectively a 30% corporate tax. Carson continued to explain that loopholes and deductions would need to be removed from the picture in order to make his tax plan work. As things currently stand, the US has a corporate tax scheme where rates are anywhere from 15% to 35% on profits. However, various loopholes and deductions result in lower effective tax rates, with some corporations accruing a $0 tax liability. Carson has stated before that he wants to lower corporate taxes, and yet it would in fact seem that he wants to quietly and secretly raise actual corporate taxes, because that is exactly the effect of what he is claiming regarding his tax plan.

Either that, or he's just a moron spouting meaningless babble.

Either you are correct or just a moron spouting meaningless babble.

 

[TNHarley]

There is no reason we should have almost a 4 trillion dollar budget. I believe he explained he would have to cut things. We don't need 500 government agencies either..
Whats the democrats tax plan?

 

[Arianrhod]

Brace yourself for "You just hate Carson because he's black" in five, four, three...

That only happens when someone disagrees with Obama.

No.

Are you able to address the OP?

 

[Arianrhod]

During last night's debate, Carson defended his "tithe style" tax plan, saying that it would easily pay for the cost of government. In doing so, he underscored his own flagrant stupidity on all things relating to governance, and the fact that his entire candidacy is based on saying things that he hopes people will like hearing, while having absolutely zero grip on reality.

According to Carson, his plan would involve a simple 15% flat tax. When challenged as to whether this would or would not result in a more than $1 trillion deficit as suggested by some he explained as follows: The US GDP is roughly $18 trillion. A 15% tax would thus equal roughly $2.7 trillion of the needed $3.5 trillion. Furthermore after the tax is levied against corporate profits, the remainder would be covered.

The ridiculousness of this is that GDP already includes corporate profits. Carson, therefore, is presuming that corporate profits be taxed twice, effectively a 30% corporate tax. Carson continued to explain that loopholes and deductions would need to be removed from the picture in order to make his tax plan work. As things currently stand, the US has a corporate tax scheme where rates are anywhere from 15% to 35% on profits. However, various loopholes and deductions result in lower effective tax rates, with some corporations accruing a $0 tax liability. Carson has stated before that he wants to lower corporate taxes, and yet it would in fact seem that he wants to quietly and secretly raise actual corporate taxes, because that is exactly the effect of what he is claiming regarding his tax plan.

Either that, or he's just a moron spouting meaningless babble.

Either you are correct or just a moron spouting meaningless babble.

Gee, if only there were some way to find out: The third Republican debate transcript, annotated

 

[TNHarley]

BTW I don't like Carson. He is a brilliant man, just not in the ways the Presidency would call for..

 

[SwimExpert]

Either you are correct or just a moron spouting meaningless babble.

In your case, the answer is known definitively.

 

[SwimExpert]

There is no reason we should have almost a 4 trillion dollar budget. I believe he explained he would have to cut things. We don't need 500 government agencies either..
Whats the democrats tax plan?

Carson's "let's cut agencies" is about as a nickle payment on a car loan.

 

[TNHarley]

There is no reason we should have almost a 4 trillion dollar budget. I believe he explained he would have to cut things. We don't need 500 government agencies either..
Whats the democrats tax plan?

Carson's "let's cut agencies" is about as a nickle payment on a car loan.

Really? Is this a joke or are you really this dense?

 

[SwimExpert]

Gee, if only there were some way to find out: The third Republican debate transcript, annotated

Thank you. Here are Carson's exact words:

Let me just say, if you're talking about an $18 trillion economy, you're talking about a 15 percent tax on your gross domestic product. You're talking about $2.7 trillion. We have a budget closer to $3.5 trillion.

But if you also apply that same 15 percent to several other things, including corporate taxes, and including the capital gains taxes, you make that amount up pretty quickly. So that is not by any stretch a pie in the sky.


So, he plans to put 15% tax on everything. Then, he's going to add an additional 15% tax on corporate profits , and an additional 15% tax on capital gains. For a corporate entity whose profits are entirely capital gains, that would amount to a 45% effective tax rate, after Carson eliminates all the loopholes and deductions.

Either that, or he thinks that corporate profits and capital gains profits aren't already part of the GDP. If that's the case, then he's as qualified to be President as Obama is to be a brain surgeon.

 

[TNHarley]

I wonder if we cut credits and closed loopholes, how much revenue that would account for?
I know NPR stated that loopholes cost us a trillion. What about EIC?
There goes that need for 3.5 trillion

 

[TNHarley]

Ahhh here it ishttp://www.npr.org/sections/money/2012/04/03/149849837/-1-trillion-in-tax-loopholes

 

[tigerred59]

I am so sick and tired of the same old bullshit messages the GOP expose every election. I don't get this need to feed corporations more tax free outlets just to keep these greedy bastards here in the US. They leave us to pay for cheap labor, what about this shit don't you conservatives get???? You could today tell every corporation on Wall Street, going forward, you pay no taxes at all....do you think for a gotdamned second, they're gonna suddenly tell China goodbye and bring jobs back to this country? Hell to the fuckin NO and you idiots know this. Stop being so gotdamned stupid, please!!

At the end of the day, the Trump has slump, thank God and poor Uncle Tommy Ben, child you are too fuckin pathetic for words....you should know these white folk ain't putting yo black ass in the white house, they just using your sorry ass as a shield to say all the nigga hatin shit, the white man can't say, don't be so stupid, nigga

Finally, everybody is talking about bringing back stability and calm to the US....Put it this way, when a democrat in office white people act a fool and when they're not, white people are happy, thus the calm. Gotta love these rednecks thats causing all the fucked up shit in this country while Obama's in office as with Clinton....now wanting calm and peace, get the fuck outta here, you people reeeeeeekkkkkk of chaos.

 

[Siete]

Gee, if only there were some way to find out: The third Republican debate transcript, annotated

Thank you. Here are Carson's exact words:

Let me just say, if you're talking about an $18 trillion economy, you're talking about a 15 percent tax on your gross domestic product. You're talking about $2.7 trillion. We have a budget closer to $3.5 trillion.

But if you also apply that same 15 percent to several other things, including corporate taxes, and including the capital gains taxes, you make that amount up pretty quickly. So that is not by any stretch a pie in the sky.


So, he plans to put 15% tax on everything. Then, he's going to add an additional 15% tax on corporate profits , and an additional 15% tax on capital gains. For a corporate entity whose profits are entirely capital gains, that would amount to a 45% effective tax rate, after Carson eliminates all the loopholes and deductions.

Either that, or he thinks that corporate profits and capital gains profits aren't already part of the GDP. If that's the case, then he's as qualified to be President as Obama is to be a brain surgeon.

yeah, but Carson did stay at the Holiday Inn !

 

[SwimExpert]

There is no reason we should have almost a 4 trillion dollar budget. I believe he explained he would have to cut things. We don't need 500 government agencies either..
Whats the democrats tax plan?

Carson's "let's cut agencies" is about as a nickle payment on a car loan.

Really? Is this a joke or are you really this dense?

Really. Especially when he can't even identify any specific agencies he would cut. The vast majority of government spending comes from defense spending, Medicare, and Social Security. Even if a President went on a rampage to shut down a crap load of government agencies, their vital functions (and associated costs) would just be shifted to other agencies. Literally, the proposal is a nickel payment on a car loan. It won't even scratch the surface for our government spending.