"Corporate Taxes"

[SAYIT]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

 

[Mr. H.]

But... but... GE, Exxon, 10 Other Major Corporations Paid Negative Tax Rate.

GE, Exxon, 10 Other Major Corporations Paid Negative Tax Rate | Mother Jones

 

[Billo_Really]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

How much is the tax rate on Wall Street transactions?

 

[SAYIT]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

How much is the tax on Wall Street transactions?

There are several but what you probably would find interesting is the Capital Gains tax levied on winnings. The bottom line remains businesses are taxed for the same services (utilities, real estate) at higher rates than individuals, then pay corporate and local biz taxes and then once the cost of biz and payroll is covered profits are distributed to the owners (shareholders), they are taxed again.

 

[Billo_Really]

There are several but what you probably would find interesting is the Capital Gains tax levied on winnings. The bottom line remains businesses are taxed for the same services (utilities, real estate) at higher rates than individuals, then pay corporate and local biz taxes and then once the cost of biz and payroll is covered profits are distributed to the owners (shareholders), they are taxed again.

The tax rate on financial transactions is 0%.

Financial transactions are not taxed, but they should be.

The capital gains tax is 15%. Ten percent less than what the rest of us pay.

 

[SAYIT]

There are several but what you probably would find interesting is the Capital Gains tax levied on winnings. The bottom line remains businesses are taxed for the same services (utilities, real estate) at higher rates than individuals, then pay corporate and local biz taxes and then once the cost of biz and payroll is covered profits are distributed to the owners (shareholders), they are taxed again.

The tax rate on financial transactions is 0%.

Financial transactions are not taxed, but they should be.

The capital gains tax is 15%. Ten percent less than what the rest of us pay.

I'm not certain why any rational person would think there must be a financial transaction tax but they do indeed exist (see below) and that doesn't include state and local levies. Precious few of us pay more than 15% fed tax. In fact, the bottom 50% of tax payers pay less than 5% fed tax. Frankly, the incessant whining of the socialists here is enough to make a capitalist's ears bleed.

Financial transaction tax - Wikipedia, the free encyclopedia

 

[Billo_Really]

I'm not certain why any rational person would think there must be a financial transaction tax but they do indeed exist (see below) and that doesn't include state and local levies. Precious few of us pay more than 15% fed tax. In fact, the bottom 50% of tax payers pay less than 5% fed tax. Frankly, the incessant whining of the socialists here is enough to make a capitalist's ears bleed.

Financial transaction tax - Wikipedia, the free encyclopedia

I'm in the bottom 50% and I pay 35%.

BTW, the bottom 50% only own 7% of the assets in this country.

 

[FA_Q2]

I'm not certain why any rational person would think there must be a financial transaction tax but they do indeed exist (see below) and that doesn't include state and local levies. Precious few of us pay more than 15% fed tax. In fact, the bottom 50% of tax payers pay less than 5% fed tax. Frankly, the incessant whining of the socialists here is enough to make a capitalist's ears bleed.

Financial transaction tax - Wikipedia, the free encyclopedia

I'm in the bottom 50% and I pay 35%.

BTW, the bottom 50% only own 7% of the assets in this country.

If you are in the bottom 50% then you don’t pay 35%. That is a simple fact. Your top marginal rate btw is NOT what you pay but I would bet that you are already well aware of that fact.

Try not being dishonest here.

 

[AntiParty]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

10 Big Companies That Pay No Taxes (and Their Favorite Politicians) | Mother Jones

(edit)Ah crap, someone posted this before me. As it turns out, America has some educated people that are able to think Freely.

 

[AntiParty]

I'm not certain why any rational person would think there must be a financial transaction tax but they do indeed exist (see below) and that doesn't include state and local levies. Precious few of us pay more than 15% fed tax. In fact, the bottom 50% of tax payers pay less than 5% fed tax. Frankly, the incessant whining of the socialists here is enough to make a capitalist's ears bleed.

Financial transaction tax - Wikipedia, the free encyclopedia

I'm in the bottom 50% and I pay 35%.

BTW, the bottom 50% only own 7% of the assets in this country.

If you are in the bottom 50% then you don’t pay 35%. That is a simple fact. Your top marginal rate btw is NOT what you pay but I would bet that you are already well aware of that fact.

Try not being dishonest here.

Proof and link?

Im not fond of this "Nuh uh" strategy. I'm here to learn.

 

[GHook93]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

Don't forget the payroll taxes! It costs a company a ton to just hire someone!

Also with corporate taxation comes corporate cronism and backdoor deals. Illinois is a perfect example. First, they raise the corporate tax to highest in the country. When all the large corps like Caterpillar, Motorola, United, John Deere, Sears, Navistar, Groupon etc threaten to leave, they get the Chicago way backdoor deal and get sweetheart deals. Some like Motorola actually received a tax rebate (meaning money back WTF).

Let's not forget all the over-burdensome and large and confusing regulations cause a ton in compliance bills: lawyers, IT, process and procedures, accounting and many other costs!

 

[SAYIT]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

10 Big Companies That Pay No Taxes (and Their Favorite Politicians) | Mother Jones

(edit)Ah crap, someone posted this before me. As it turns out, America has some educated people that are able to think Freely.

There are 27 MILLION American corporations. Are you really gonna cherry pick 10 and then do the whiny socialist thing? Really dude?

 

[AntiParty]

I'm not certain why any rational person would think there must be a financial transaction tax but they do indeed exist (see below) and that doesn't include state and local levies. Precious few of us pay more than 15% fed tax. In fact, the bottom 50% of tax payers pay less than 5% fed tax. Frankly, the incessant whining of the socialists here is enough to make a capitalist's ears bleed.

Financial transaction tax - Wikipedia, the free encyclopedia

I'm in the bottom 50% and I pay 35%.

BTW, the bottom 50% only own 7% of the assets in this country.

On average the bottom 50% of taxpayers pay less than 5% fed tax. Perhaps you need a better accountant. BTW, Social Security deductions are not income tax.

Yea, no link again......I'm starting to see a standard here.

 

[SAYIT]

I'm in the bottom 50% and I pay 35%.

BTW, the bottom 50% only own 7% of the assets in this country.

If you are in the bottom 50% then you don’t pay 35%. That is a simple fact. Your top marginal rate btw is NOT what you pay but I would bet that you are already well aware of that fact.

Try not being dishonest here.

Proof and link?

Im not fond of this "Nuh uh" strategy. I'm here to learn.

No you're not. Not if your Mother Jones post is any indication.

 

[Machaut]

I'm in the bottom 50% and I pay 35%.

BTW, the bottom 50% only own 7% of the assets in this country.

If you are in the bottom 50% then you don’t pay 35%. That is a simple fact. Your top marginal rate btw is NOT what you pay but I would bet that you are already well aware of that fact.

Try not being dishonest here.

Proof and link?

Im not fond of this "Nuh uh" strategy. I'm here to learn.

Do you not work or something? This is common knowledge stuff.

But, because you asked, here's a table showing the marginal tax rates:
Or not, apparently I can't do that as I haven't made enough posts to use links. So, it's on Wikipedia's "Income tax in the United States" article, section 2.1.2.

To be in the 35% federal income tax bracket, Billo would have to be making around $400,000 per year, which is definitely not "in the bottom 50%". And to expound slightly upon FA_Q2's comment, the calculation is a bit more complex than a simple "35% * $400,000".

 

[SAYIT]

I'm in the bottom 50% and I pay 35%.

BTW, the bottom 50% only own 7% of the assets in this country.

On average the bottom 50% of taxpayers pay less than 5% fed tax. Perhaps you need a better accountant. BTW, Social Security deductions are not income tax.

Yea, no link again......I'm starting to see a standard here.

You are seeing things. You could just as easily looked this up yourself, Princess, but I'm betting you already knew this:

https://www.google.com/url?q=http:/...ds-cse&usg=AFQjCNFjH3IssR7ECjMNDBhGItMQPmYfGA

 

[AntiParty]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

Ever since Citizens United Politicians will serve any Corporation with the money needed to serve their cause.

 

[SAYIT]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

Ever since Citizens United Politicians will serve any Corporation with the money needed to serve their cause.

Ah-ha. So the anti-American socialist is "just here to learn." Riiiight.

 

[AntiParty]

Any discussion of business taxes should begin at the beginning. Commercial rates for utilities are 20%-30% higher than residential, not because the power or water is better but just because.
Commercial real estate is taxed at a far higher rate than residential.
A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.
Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.
Once all is covered the residual (profit) is disbursed to the owners (or shareholders) who then pay another round of federal and state income taxes on it.
Frankly, the incessant whining of know-nothing LOONY LEFTIES about "corporate taxes" is the most ignorant BS these weary boards must endure but I have something to accompany their whining:

Ever since Citizens United Politicians will serve any Corporation with the money needed to serve their cause.

Ah-ha. So the anti-American socialist is "just here to learn." Riiiight.

Note that Citizens United is part of the Constitution and a part of America. Calling me a socialist and Anti_American makes you look bad, not me.

I challenged you with an educated response and this was your reply. I'll stick with my educated response.

 

[FA_Q2]

I'm in the bottom 50% and I pay 35%.

BTW, the bottom 50% only own 7% of the assets in this country.

On average the bottom 50% of taxpayers pay less than 5% fed tax. Perhaps you need a better accountant. BTW, Social Security deductions are not income tax.

Yea, no link again......I'm starting to see a standard here.

Likely because this should NOT need to be explained. If you are an American, then you do your taxes every damn year and it is inexcusable that you are unaware of basic tax realities. Anyone that has ever filled out a 1040ez should be well aware of the fact that you are not taxed a total of 35% of your income or that the top marginal rate you pay is anywhere near your actual tax burden. That is ignorance in levels that is hard to believe. I will operate under the assumption that you are not American though and give you a rundown:
Personal income in the United States - Wikipedia, the free encyclopedia
Average earnings – 75% earn LESS than 50K and 50% of households earn 55K so we will use that as our baseline even though that makes our numbers FAR exceed 50% as I will base it on a SINGLE person with no family (IOW, this is really looking at 75%)
Standard deduction - Wikipedia, the free encyclopedia
Standard deduction (income that is not taxed at all): 6,100
Leaving 48,900 taxable
Tax Brackets | Income Tax Brackets 2013 - Bankrate.com
First 8,925 is taxed at 10 percent or 892.50
Then to $36,250 ($27,325 taxed) is at 15 percent or 4,098.75
Then the rest (12,650 taxed) is at 25 percent or 3162.50

That is a total of 8153.75 which is 14.82% of 55,000.

In total that makes the MAXIMUM POSSIBLE tax burden of someone at the 75% is under 15%. That is the MAXIMUM POSSIBLE. It does not take anything into consideration like marriage, children or itemized deductions which makes this particular tax burden EXTREMELY rare. In order to even get to a top marginal rate of 35% you need to reach almost 400K a year and I doubt that 400K can be considered under 50% by ANYONE.


Edit: damn - this took to long to type, some others beat me to it