Momentum Builds for Corporate Tax Overhaul

[loosecannon]

They pay lots of taxes. Payroll taxes. Personal and property taxes. Sales taxes. Use taxes.

Why should the name of a company, or its industry, determine whether they pay Federal corporate income taxes?

According to Milton Friedman corporations don't actually pay payroll taxes, personal property taxes, sales taxes or use taxes.

But what does he know?

[ame]http://www.youtube.com/watch?v=YmqoCHR14n8[/ame]

 

[loosecannon]

It doesn't matter, because many individuals who own corporations file as individuals.

That is less than a moot point.

Corporations pay nearly nothing in dividends and reinvest most of their earnings into growth. They are also immortal.If they aren't taxed annually on profits they are never taxed at all, ever.

So what? Do their reinvestments generate no taxable activity? Purchases of plants, equipment or other taxable transactions?

According to Milton Friedman, none.

If you don't tax corporations annually on profits they will never pay a penny of tax. They may collect taxes for the government like an agent, but they themselves won't pay any at all.

But you are prolly a whole lot smarter on this stuff than Milton. He merely founded the dominant economic ideology of our times.

 

[Revere]

That is less than a moot point.

Corporations pay nearly nothing in dividends and reinvest most of their earnings into growth. They are also immortal.If they aren't taxed annually on profits they are never taxed at all, ever.

So what? Do their reinvestments generate no taxable activity? Purchases of plants, equipment or other taxable transactions?

According to Milton Friedman, none.

If you don't tax corporations annually on profits they will never pay a penny of tax. They may collect taxes for the government like an agent, but they themselves won't pay any at all.

But you are prolly a whole lot smarter on this stuff than Milton. He merely founded the dominant economic ideology of our times.

There are no taxes paid on the acquisition of real estate?

Google avoids a lot of taxes by moving money to Ireland, but they still own or lease more real estate than they used to.

There is no tax implications of all for that?

 

[loosecannon]

Not for corporations, not according to Milton Friedman.

Did you view his video presentation?

 

[Revere]

Does Milton Friedman think purchases of real estate or new equipment, hiring or contracting out incure no taxable activity?

 

[Revere]

There should be no corporate income tax. The most successful companies don't pay any corporate income taxes anyhow.

 

[loosecannon]

There should be no corporate income tax. The most successful companies don't pay any corporate income taxes anyhow.

you are certifiable. The most successful crime syndicates don't pay any income taxes either.

 

[Revere]

There should be no corporate income tax. The most successful companies don't pay any corporate income taxes anyhow.

you are certifiable. The most successful crime syndicates don't pay any income taxes either.

So what? Do they both commit crimes?

 

[loosecannon]

of course they do

 

[Revere]

of course they do

Which crimes have corporations committed that they were not prosecuted for?

Real crimes, not ones you make up in your small head.

 

[Revere]

You see, idiot, corporations have the ability to avoid taxes, so you may as well tax them on something that reflects their growth and contribution to the economy, not profits.

 

[loosecannon]

of course they do

Which crimes have corporations committed that they were not prosecuted for?

Real crimes, not ones you make up in your small head.

You are kidding right?

Corporations have adopted a policy of committing crimes whenever the upside is sufficient because they know that the penalties will be negligible.

CEO's make the big bucks BECAUSE They are willing to order said crimes in pursuit of the bottom line.

This has been business as usual since Enron collapsed.

Now back to the topic: If corporations are not taxed annually on their profits they will never be taxed, according to Milton Friedman.

 

[loosecannon]

You see, idiot, corporations have the ability to avoid taxes, so you may as well tax them on something that reflects their growth and contribution to the economy, not profits.

Profits is the best way to tax them on "something that reflects their growth and contribution to the economy".

But more on point corps should be taxed to the degree that they benefit from social infrastructure. And to the degree that they use social infrastructure.

Corporations owe their very existence to society, they should repay society for what they consume.

 

[Revere]

Is making big bucks a crime, I mean like Al Capone's crimes?

Their profits find their way into other transactions which are taxed.

Quit hiding behind Milton Friedman and tell me how Google's profits reinvested in growth don't result in taxable transactions, like payroll taxes due to hiring, real estate taxes, and sales taxes due to acquisition of new personal property.

 

[Revere]

You see, idiot, corporations have the ability to avoid taxes, so you may as well tax them on something that reflects their growth and contribution to the economy, not profits.

Profits is the best way to tax them on "something that reflects their growth and contribution to the economy".

But more on point corps should be taxed to the degree that they benefit from social infrastructure. And to the degree that they use social infrastructure.

Corporations owe their very existence to society, they should repay society for what they consume.

They pay for social infrastructure through payroll, real estate, and personal and property, and sales taxes.

How much do you think Exxon pays in payroll, real estate and personal and property and sales taxes?

Notihing?

Idiot.

 

[loosecannon]

View milton's video, dumbshit!

 

[Revere]

If you think making big bucks is a crime, then you're fucked up beyond all hope.

 

[Revere]

View milton's video, dumbshit!

I don't care. Defend it here or go **** a chicken.

 

[Mr. Shaman]

The White House is also advancing a rapprochement with the U.S. Chamber of Commerce, the capital's biggest, richest business lobby, which has clashed repeatedly with the administration on a range of issues. On Wednesday, the White House said Mr. Obama would address members of the chamber for the first time at the group's Washington headquarters on Feb. 7.

I hope they serve him up some "crow".

The local-chambers have no use for the U.S. Chamber fascists:​

"The U.S. Chamber of Commerce is under fire from some local chambers over its hard-hitting $75 million ad campaign to elect a Republican House, with dozens of hometown groups distancing themselves from the effort and a handful even quitting the national group in protest.

“We were getting pounded. We felt here, in Central Pennsylvania, that the ads they were running were not professional ads,” said David Wise, president of the Chamber of Business and Industry of Centre County, which is considering dropping its national membership. “This was not a unifying event. It was divisive.”

More than 40 local chambers issued statements during the midterms distancing themselves from the U.S. Chamber’s campaign — including nearly every major local Chamber in Iowa and New Hampshire, key states in the presidential campaign.

Other chambers plan to take the extraordinary step of ending their affiliation with the U.S. Chamber, including The Greater Philadelphia Chamber of Commerce."

You need to borrow some o' Sarah Palin's newspapers....even, all o' them....from-time-to-time....and catch-up on what's goin'-on, outside the 'Bagger-rhetoric.

Ya' won't sound like such a Bubblehead, that way.

​

 

[Mr. Shaman]

If you think making big bucks is a crime, then you're fucked up beyond all hope.

Spoken like a true FAUX Noise lemming.