Why don’t republicans seem to understand the consequences of tax cuts?

[BWK]

I accept your admission you are a lying sack of shit, Simp.

Dismissed.

You just admitted to losing that argument. That makes you a loser.

 

[BWK]

What loopholes? Be specific.

Common tax-reduction strategies include issuing stock options to executives so they can buy stock in the company at a discount. When options are exercised, the company takes a deduction for the difference between the market value of the stock and what the executives pay. Facebook (FB) has been the largest benefactor from this strategy, saving $5.8 billion in taxes over eight years, ITEP calculated.

Other industry-specific tax breaks include write-offs for business activities such as building NASCAR race tracks or research, as well as “accelerated deprecation,” which effectively lets companies defer taxes on equipment and other assets.

Companies can also receive a deduction for domestic manufacturing, a tax break created under the American Jobs Creation Act of 2004. The goal was to help revitalize American manufacturing, but companies have pushed the meaning of “manufacturing” to mean, well, almost anything. For instance, companies that are using the tax break include Starbucks (SBUX), Hollywood film producers and online reservation system OpenTable, ITEP said.

Below are the 18 companies that paid no federal income tax from 2008-2015, according to ITEP. Many of them are in the energy sector.

1. Pepco Holdings
2. PG&E Corp.
3. Wisconsin Energy
4. NiSource
5. International Paper
6. FirstEnergy
7. Priceline.com
8. Amos Energy
9. General Electric
10. American Electric Power
11. Ryder System
12. Duke Energy
13. NextEra Energy
14. Xcel Energy
15. Ameren
16. CMS Energy
17. Sempra Energy
18. Eversource Energy

Trending News​

 

[Markle]

No he didn't. We have to pay it back. And what does that have to do with legislating our freedoms away?

Revenue increased. How do you "pay it back"?

 

[Toddsterpatriot]

Common tax-reduction strategies include issuing stock options to executives so they can buy stock in the company at a discount. When options are exercised, the company takes a deduction for the difference between the market value of the stock and what the executives pay. Facebook (FB) has been the largest benefactor from this strategy, saving $5.8 billion in taxes over eight years, ITEP calculated.

Other industry-specific tax breaks include write-offs for business activities such as building NASCAR race tracks or research, as well as “accelerated deprecation,” which effectively lets companies defer taxes on equipment and other assets.

Companies can also receive a deduction for domestic manufacturing, a tax break created under the American Jobs Creation Act of 2004. The goal was to help revitalize American manufacturing, but companies have pushed the meaning of “manufacturing” to mean, well, almost anything. For instance, companies that are using the tax break include Starbucks (SBUX), Hollywood film producers and online reservation system OpenTable, ITEP said.

Below are the 18 companies that paid no federal income tax from 2008-2015, according to ITEP. Many of them are in the energy sector.

1. Pepco Holdings
2. PG&E Corp.
3. Wisconsin Energy
4. NiSource
5. International Paper
6. FirstEnergy
7. Priceline.com
8. Amos Energy
9. General Electric
10. American Electric Power
11. Ryder System
12. Duke Energy
13. NextEra Energy
14. Xcel Energy
15. Ameren
16. CMS Energy
17. Sempra Energy
18. Eversource Energy

Trending News​

When options are exercised, the company takes a deduction for the difference between the market value of the stock and what the executives pay. Facebook (FB) has been the largest benefactor from this strategy, saving $5.8 billion in taxes over eight years, ITEP calculated.


Today, if a company deducts $1 billion due to stock options, they save $210 million in taxes.
The executives receive a $1 billion benefit and pay 37% plus 1.45%....$384.5 million in taxes.

 

[Markle]

Did you know that it was Heritage that originally proposed the individual health care mandate?

Yes. I thought you said the source was garbage.

 

[Oldestyle]

Because we've endured several years of supply chain and logistics efforts which have driven up their cost of goods sold.

You conveniently overlook what Joe Biden's war on fossil fuels did to the price of gasoline and diesel, 5th. "Supply chain problems" was just the excuse that the Biden Administration trotted out when it finally dawned on them that high fossil fuel prices affects the cost of almost every product that has to travel over the roads and those costs get added to the cost of the product on the shelf. That cost is on Joe. When you make bad policy decisions then the average person ends up paying the price.

 

[Markle]

No.
We think the wealthy ought to pay their share.
Corporate welfare and tax loopholes and evasion by the rich (like Donald Trump only paying $700 in taxes) is bleeding this country dry!

Are you really this ignorant about who pays income taxes or are you playing the troll?

In your opinion, how much more should the top 50% of earners pay?

What tax loopholes should be closed?

Who provides every dollar a corporation pays in income taxes?

Should a corporation or individual pay income tax if they lost money that year?

Since the lower 50% of earners only pay a 2.32 share of income taxes, shouldn't they pay their fair share?

 

[Dirk the Daring]

Cutting taxes increaes revenue to the government......not taking money from the people who know how to create it means they can use that money to grow their businesses higher more people and create more tax revenue...

It's actually a very simple concept to grasp; would you rather have $1 from 10 people, or $.98 from 11 people?

 

[themirrorthief]

It's actually a very simple concept to grasp; would you rather have $1 from 10 people, or $.98 from 11 people?

we must never let hard working, stressed out people keep their pay...that is a sin and against communist doctrine....only the elite government employees should be allowed money because they need the cash for their big parties

 

[The5thHorseman]

I see $200B for the banks.
$300B for Fannie and Freddie, $68B for AIG and $79B for the automakers.

And you come up with 3.5?

Think there's something you're missing, Toddy?

 

[The5thHorseman]

The link you brought proved my assertion, and proved you are a lying sack, Halfwit.

No it didn't.

You're full of crap.

 

[The5thHorseman]

What loopholes? Be specific.

Why is it everyone's job to school you?

 

[The5thHorseman]

Yes. I thought you said the source was garbage.

Then you'd know that, in 2009, Heritage ran away from it.

 

[The5thHorseman]

You conveniently overlook what Joe Biden's war on fossil fuels did to the price of gasoline and diesel, 5th. "Supply chain problems" was just the excuse that the Biden Administration trotted out when it finally dawned on them that high fossil fuel prices affects the cost of almost every product that has to travel over the roads and those costs get added to the cost of the product on the shelf. That cost is on Joe. When you make bad policy decisions then the average person ends up paying the price.

Please stop with the fiction.


Look at production data.

Stop watching FOX.

 

[ThisIsMe]

The other side of the coin here is, that dems seem to want to raise taxes, without cutting spending.

I think, in order to justify any more tax increases, there needs to be meaningful spending cuts first. What do you think will happen if dems simply just raise taxes again? They will just spend more money, and in another few years we’ll be back here again saying they need to raise taxes again.

Eventually, you have only so much you can take from the people.

Also, it’s amazing how this government elected “by the people, for the people”, who’s method SHOULD be “may we please increase tax rates in order to help with certain government expenses” has gone to “were GOING to take more of your money, and by extension, more of your labor, and you better pay up or we’ll sick this IRS agency on you!”

Everyone has gotten so comfortable with our government just assuming control of our lives, to the point where the government controls everything about you, and everyone has forgotten that….the government is supposed to work FOR us…

 

[The5thHorseman]

The other side of the coin here is, that dems seem to want to raise taxes, without cutting spending.

I think, in order to justify any more tax increases, there needs to be meaningful spending cuts first. What do you think will happen if dems simply just raise taxes again? They will just spend more money, and in another few years we’ll be back here again saying they need to raise taxes again.

Eventually, you have only so much you can take from the people.

Also, it’s amazing how this government elected “by the people, for the people”, who’s method SHOULD be “may we please increase tax rates in order to help with certain government expenses” has gone to “were GOING to take more of your money, and by extension, more of your labor, and you better pay up or we’ll sick this IRS agency on you!”

Everyone has gotten so comfortable with our government just assuming control of our lives, to the point where the government controls everything about you, and everyone has forgotten that….the government is supposed to work FOR us…

Have you voted for Supply Side Hucksters?

 

[Toddsterpatriot]

And you come up with 3.5?

Think there's something you're missing, Toddy?

And you come up with 3.5?

$3.5 trillion is the number.
What number do you have for 2009 FY outlays?

 

[Toddsterpatriot]

Why is it everyone's job to school you?

I like to see the backup when silly people make claims.

 

[Oldestyle]

Please stop with the fiction.


Look at production data.

Stop watching FOX.

Fiction? I just filled up my gas tank. Is it "fiction" that it cost me $60 instead of $40? With all due respect, 5th? When you make excuses for the failures of this administration by claiming that those failures are somehow a figment of my imagination? You become a bit of a joke! When you look at the cost of diesel fuel and how it's gone up under Joe Biden? When you look at the cost of fuel oil and how it's gone up under Joe Biden? Those costs are real and everyday Americans face them each and every day! It's estimated that inflation costs an average family over $7,000 this year. That's not "fiction" that's money that we're losing...money that should be going towards the education of people's children...or towards their retirement! Instead that money is being stolen from them.

 

[The5thHorseman]

And you come up with 3.5?

$3.5 trillion is the number.
What number do you have for 2009 FY outlays?

Right around 3.5....exclusive of ESAs for Iraqnam.