How much of the total federal tax revenues should be paid by the top 1% and the top 5%

[Care4all]

None of your post addresses my statements at all.

Sorry! I was just talking......

 

[fncceo]

How much of the total federal tax revenues should be paid by the top 1% and the top 5%​

None.

They are doing their part by creating wealth and jobs for millions of Americans. Why should they be required to do more?

 

[Blues Man]

Corporations and businesses are not the same thing. Even if they were, should 50 million in cash and assets be considered small?

They kind of are the same thing.

I had an S corp and so did my wife in fact most businesses in this country are organized as S corps and LLCs which are very similar

 

[BULLDOG]

They kind of are the same thing.

I had an S corp and so did my wife in fact most businesses in this country are organized as S corps and LLCs which are very similar

I noticed you slipped right past that 50 million. Is 50 million a small business?

 

[Blues Man]

I noticed you slipped right past that 50 million. Is 50 million a small business?

That's an arbitrary measure. And if any S corp makes that much there would still be no corporate taxes paid

What if a business with 5 employees makes that much? Is that a "big" business?

 

[DGS49]

Any rational tax system would have a maximum tax. And I don't mean a maximum percentage of income; I mean a maximum personal income tax. Maybe it should be a hundred thousand or a million. I don't care, but the government should not extort the success of its most successful citizens. Once you have paid a fair share, that's enough.

And the appropriate corporate income tax rate would be ZERO, coupled with a restraint on how much the corporation may retain. Corporate profits should be paid out to shareholders as taxable dividends, to lenders as taxable interest, to the employees as taxable salaries and bonuses, and occasionally to valued customers as incentives for more business.

Corporations are FICTITIOUS PERSONS, created by the State, to protect the personal estates of the investors. Fictitious persons should not have to pay income tax.

And for those who think this is a radical idea, MOST of U.S. corporations pay their taxes this way, under Subchapter S.

 

[BULLDOG]

Any rational tax system would have a maximum tax. And I don't mean a maximum percentage of income; I mean a maximum personal income tax. Maybe it should be a hundred thousand or a million. I don't care, but the government should not extort the success of its most successful citizens. Once you have paid a fair share, that's enough.

And the appropriate corporate income tax rate would be ZERO, coupled with a restraint on how much the corporation may retain. Corporate profits should be paid out to shareholders as taxable dividends, to lenders as taxable interest, to the employees as taxable salaries and bonuses, and occasionally to valued customers as incentives for more business.

Corporations are FICTITIOUS PERSONS, created by the State, to protect the personal estates of the investors. Fictitious persons should not have to pay income tax.

And for those who think this is a radical idea, MOST of U.S. corporations pay their taxes this way, under Subchapter S.

So you would rather exploit the poor and middle class by taxing every penny of their income but giving a huge break to the rich. Typical MAGA. That's mighty white of you bubba.

 

[saveliberty]

Sorry! I was just talking......

No need, I enjoy your company.

 

[Care4all]

Any rational tax system would have a maximum tax. And I don't mean a maximum percentage of income; I mean a maximum personal income tax. Maybe it should be a hundred thousand or a million. I don't care, but the government should not extort the success of its most successful citizens. Once you have paid a fair share, that's enough.

And the appropriate corporate income tax rate would be ZERO, coupled with a restraint on how much the corporation may retain. Corporate profits should be paid out to shareholders as taxable dividends, to lenders as taxable interest, to the employees as taxable salaries and bonuses, and occasionally to valued customers as incentives for more business.

Corporations are FICTITIOUS PERSONS, created by the State, to protect the personal estates of the investors. Fictitious persons should not have to pay income tax.

And for those who think this is a radical idea, MOST of U.S. corporations pay their taxes this way, under Subchapter S.

But didn't they make all that excess money, by not paying others, more? All those fingers behind the scenes making it all happen, for that one rich guy? From say... as example....Getting supplies, buying materials, manufacturing, boxing, shipping, the janitorial staff keeping the factory cleaned, shipping crew, dock master, accounting clerks, asst designers, marketing staff....

There are a lot of workers out there, that could have benefited a bit more than they did, and the BIG GUY maybe should get a little less?

Without the labor, the workers....his money means nothing and does nothing to gain more....

I'm with Abraham Lincoln....



“Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.”

 

[there4eyeM]

What is their fair percentage of the costs of defense for their enormous wealth, almost entirely provided by the sons and daughters of the poorer segment of the population?

 

[saveliberty]

But didn't they make all that excess money, by not paying others, more? All those fingers behind the scenes making it all happen, for that one rich guy? From say... as example....Getting supplies, buying materials, manufacturing, boxing, shipping, the janitorial staff keeping the factory cleaned, shipping crew, dock master, accounting clerks, asst designers, marketing staff....

There are a lot of workers out there, that could have benefited a bit more than they did, and the BIG GUY maybe should get a little less?

Without the labor, the workers....his money means nothing and does nothing to gain more....

I'm with Abraham Lincoln....



“Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.”

Tax collected doesn't go to the poor. The government is talking about collecting more. Even at 100% on the "rich" the government is out spending taxation. Inflation is a defacto tax, which most hurts the poor. The government has really hit small businesses hard the last two years.

From October 2020 to October 2021, one in five businesses shut down: 4,5

• 1,314,026 small businesses temporarily closed a location (21.7%).
• 423,879 small businesses reopened after closing down (7%).
• 1,017,311 small businesses permanently closed (16.8%).

Inflation may force 2 in 3 small businesses to close in 2022

• Inflation, possible recession have majority of small business owners ‘very concerned’ ...
• Half of businesses likely to close suffering from decline in customers, shutdowns ...
• Businesses turning to raising prices, cutting salaries, and layoffs to avoid closure ...

Small businesses are not owned by the rich.

All of this is linked. Better to focus on keeping businesses afloat by government, which will create more tax revenue, jobs, lower inflation.

 

[BULLDOG]

Tax collected doesn't go to the poor. The government is talking about collecting more. Even at 100% on the "rich" the government is out spending taxation. Inflation is a defacto tax, which most hurts the poor. The government has really hit small businesses hard the last two years.

From October 2020 to October 2021, one in five businesses shut down: 4,5

• 1,314,026 small businesses temporarily closed a location (21.7%).
• 423,879 small businesses reopened after closing down (7%).
• 1,017,311 small businesses permanently closed (16.8%).

Inflation may force 2 in 3 small businesses to close in 2022

• Inflation, possible recession have majority of small business owners ‘very concerned’ ...
• Half of businesses likely to close suffering from decline in customers, shutdowns ...
• Businesses turning to raising prices, cutting salaries, and layoffs to avoid closure ...

Small businesses are not owned by the rich.

All of this is linked. Better to focus on keeping businesses afloat by government, which will create more tax revenue, jobs, lower inflation.

It's hard to say small businesses aren't owned by the rich when the business can have 50 million, and still be classified as a small business.

 

[there4eyeM]

Materialism kills the soul.

 

[Hector12]