"Corporate Taxes"

[Billo_Really]

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.

35% of my gross, is taken out of every paycheck.

That's all I care about.

 

[Spiderman]

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.

FYI if you are in the 25% bracket you do not actually pay 25% of your income in taxes.

Take a minute to learn how marginal tax rates work.

And why should financial transactions be taxed ? Do you want to pay a tax every time you deposit money into your checking account or your 401k?

 

[Spiderman]

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.

You do not [pay 35% if you are in the 35% bracket and if you are in the 35% bracket you are not in the bottom 50% because you would have to have an adjusted gross income of 398351

If you are in the bottom 50% you would be making less than the median income of about 50K

 

[FA_Q2]

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.

35% of my gross, is taken out of every paycheck.

That's all I care about.

I don’t give a shit what you ‘care’ about. What you stated is a bald faced lie as it is impossible. Simple as that. Don’t try and back out now because you were shown to be completely and utterly incorrect.

What is removed from your check, btw, IS UNDER YOUR CONTROL. Don’t whine about your withholdings because you have failed to set up your claims properly.

 

[Darkwind]

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.

How much money did you get back from your taxes?

 

[Darkwind]

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.

35% of my gross, is taken out of every paycheck.

That's all I care about.

Once more. Did you get a refund? No one here cares about how much money you lent the government tax free...You claim to pay 35%, (you are closer than you think, but not because of income)....

 

[SAYIT]

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.

Citizens United is not part of our constitution (do you know what our constitution is?) and has absolutely nothing to do with the subject of this thread which is corporate taxes and the incessant whining of know-nothing socialist types. You clearly fall into that category.

 

[Mac1958]

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.

FYI if you are in the 25% bracket you do not actually pay 25% of your income in taxes.

Take a minute to learn how marginal tax rates work.

And why should financial transactions be taxed ? Do you want to pay a tax every time you deposit money into your checking account or your 401k?

I look at some of the stuff that is posted here and shake my head. I often find myself saying, "damn, I wish I hadn't seen that".

No, there are a lot of people who don't know how marginal tax rates work, but that doesn't stop them from making breathtakingly simplistic comments that anyone who knows anything about taxes and/or finance can pick apart in two seconds.

And speaking of breathtakingly simplistic comments, these are usually the same people who think that "Wall Street" is somehow someone else. They see no connection to what takes place in financial markets to their own lives, or to America on a macro scale in the intensely competitive (and getting far more so) global economy.

Just add a tax on financial transactions willy-nilly, and it will "get" that "someone else". There certainly wouldn't be any ramifications other than that.

Cripes. Ack. Holy shit. I wish I hadn't seen that.

.

 

[midcan5]

The modern American wingnut, right winger, libertarian, and conservative republican is so interesting a creature today. One wonders if they are real or if corporate America created their very own fan club of dancing cheerleaders. No longer is anything about what is good for America and its people, now the wingnuts sing the anthem of the rich and powerful. Amazing the power sixty years of propaganda can have on the impressionable mind.


"Before 1950 the political designation of “conservative” was disavowed, if not altogether disliked, by most Americans, including Republicans. Yet very soon after, and for the first time in American history, ideological “conservatism” became a more than acceptable political designation. By the 1980s, more Americans called themselves “conservatives” than “liberals.” Much of this was ambiguous, since many Americans were not truly conservative at all, except for their opposition to liberals." John Lukacs 'American Nationalism'


"Historian Phillips-Fein traces the hidden history of the Reagan revolution to a coterie of business executives, including General Electric official and Reagan mentor Lemuel Boulware, who saw labor unions, government regulation, high taxes and welfare spending as dire threats to their profits and power. From the 1930s onward, the author argues, they provided the money, organization and fervor for a decades-long war against New Deal liberalism—funding campaigns, think tanks, magazines and lobbying groups, and indoctrinating employees in the virtues of unfettered capitalism." [ame]http://www.amazon.com/Invisible-Hands-Making-Conservative-Movement/dp/0393059308/ref=sr_1_1?ie=UTF8&s=books&qid=1247845984&sr=1-1[/ame]


""The simple truth is that there is a new majority in America," wrote Richard Viguerie shortly after the 1980 election. "And it's being led by the New Right." ... Viguerie wrote these words after spending more than a decade organizing for conservative causes-long years during which he raised money, wrote letters, and published a magazine for the movement. He was the self-made man of conservatism, a direct-mail innovator who made a fortune selling his famous list of names of conservative donors to activists eager to dip into the money well. He exercised so much control over the conservative funding base that some critics dubbed him the "godfather of the right."" Kim Phillips-Fein 'Invisible Hands: The Businessmen's Crusade Against the New Deal'

 

[natstew]

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.

Like they didn't serve big money contributors before?
The Unions are,, and have always been the biggest donors to politicians. You Lefties find that okay because Unions contribute predominately to Democrat politicians. It's only when "Citizens United" leveled the playing field that you Lefties find it unfair. You are so damn disgusting, makes me want to puke!

 

[kaz]

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?

I see you subscribe to the Hillary Clinton school of taxation: "We Tax Everything That Moves."

You got a partial list of all the taxes that we business owners pay, and all you can do is squawk about another tax you want to add.

 

[kaz]

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

Um, the 35% bracket starts at over $350K. So you make over $350K and you're in the bottom 50%? You should have done a bit of research before you pulled that one out of your posterior.

Are you Warren Buffet's secretary? The poor dear pays higher taxes than her boss. She makes over $400K a year, she's an evil one percenter. Great talking point though.

 

[Mac1958]

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

Um, the 35% bracket starts at over $350K. So you make over $350K and you're in the bottom 50%? You should have done a bit of research before you pulled that one out of your posterior.

Are you Warren Buffet's secretary? The poor dear pays higher taxes than her boss. She makes over $400K a year, she's an evil one percenter. Great talking point though.

And let's remember that the top marginal rate is now 39.6%. I'm sure he "pays" that now.

.

 

[editec]

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.

Not in MY town laddie. In fact in many towns commercial RE is taxed at much lower rates than homes.

Seri

A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.

That's odd. I am the CEO of a corporation and I have never EVER gotten notification of a tax like that.

Finally we get to corporate state and federal taxes and the cost of doing biz including payroll.

Yes, those exist.

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.

ONLY if the profits ARE distributed. Often corporations retain earnings thus increasing the share's worth which is NOT taxed until the owners sell their shares and EVEN THEN, they pay a lower rate of taxes than they would if their income came from LABOR.

Seriously kid, you don't know any of the above?

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:

That's funny, lad.

You trying to teach your elders how to suck eggs.

Read a book, lad.

Educate yourself.

 

[Spiderman]

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.

Not in MY town laddie. In fact in many towns commercial RE is taxed at much lower rates than homes.

Seri

A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.

That's odd. I am the CEO of a corporation and I have never EVER gotten notification of a tax like that.




Yes, those exist.




ONLY if the profits ARE distributed. Often corporations retain earnings thus increasing the share's worth which is NOT taxed until the owners sell their shares and EVEN THEN, they pay a lower rate of taxes than they would if their income came from LABOR.

Seriously kid, you don't know any of the above?

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:

That's funny, lad.

You trying to teach your elders how to suck eggs.

Read a book, lad.

Educate yourself.

Funny you tell people to educate themselves and you think your experience is related to every business in every state.

 

[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.

Not in MY town laddie. In fact in many towns commercial RE is taxed at much lower rates than homes.

Really? Any chance you could post links to a few?

 

[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.

A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.

That's odd. I am the CEO of a corporation and I have never EVER gotten notification of a tax like that.

Your company isn't subject to an array of local business taxes? Aren't you lucky.
Perhaps that is why you do biz there but you can't be unaware that they exist in the real world.

 

[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.
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.

ONLY if the profits ARE distributed. Often corporations retain earnings thus increasing the share's worth which is NOT taxed until the owners sell their shares and EVEN THEN, they pay a lower rate of taxes than they would if their income came from LABOR.

Seriously kid, you don't know any of the above?

Indeed I do so what's your point? The profit is already subject to the initial round of local, state and federal corporate taxes before it is distributed and if the owners leave their AFTER-TAX profit in the company they don't get to enjoy the fruit of their labor.
Surely you are aware that is why most bother to invest in the assets of production. Right?

 

[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.

Not in MY town laddie. In fact in many towns commercial RE is taxed at much lower rates than homes.

Seri

A plethora of local taxes (not including licenses and inspections) of which non-business owners have never heard arrive in the mail DAILY.

That's odd. I am the CEO of a corporation and I have never EVER gotten notification of a tax like that.




Yes, those exist.




ONLY if the profits ARE distributed. Often corporations retain earnings thus increasing the share's worth which is NOT taxed until the owners sell their shares and EVEN THEN, they pay a lower rate of taxes than they would if their income came from LABOR.

Seriously kid, you don't know any of the above?

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:

That's funny, lad.

You trying to teach your elders how to suck eggs.

Read a book, lad.

Educate yourself.

I take all your silliness to mean you are dissatisfied because you would prefer your corporation be made to pay more taxes. You have my sincerest condolences.

 

[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.

Like they didn't serve big money contributors before?
The Unions are,, and have always been the biggest donors to politicians. You Lefties find that okay because Unions contribute predominately to Democrat politicians. It's only when "Citizens United" leveled the playing field that you Lefties find it unfair. You are so damn disgusting, makes me want to puke!

Unions once served a valuable purpose in America and this capitalist would not like to return to our pre-union economy. The only time they bother me is when I build something in my large, Mid-Atlantic city. Then they insist on getting the work for their members at rates and terms they dictate (which are often twice what it's worth).