Stirred not Shaken
Well-known member
Don't California Texas and don't California the USA : https://www.cnbc.com/2021/03/20/how-texas-attracts-big-businesses-billionaires-from-california.html
Taxman Cometh - Ebay Vendors ....
- Thread starter 2manyBats
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Stirred not Shaken
Well-known member
I could care less if the corporate tax rate was at zero. I would rather have an American co. paying zero taxes and employing Americans than paying zero taxes overseas and not employing Americans.
Hammerdrill
Well-known member
LOL. If Amazon is to pay taxes, where do they get the funds to do so? Yes, they get those funds from their customers. So you apparenlty think we should all pay higher prices, so that you can feel better about Amazon passing those dollars on to the government.
Biden proposing ‘undercover tax on just about everybody’: Wealth strategist
Wealth strategist warns Biden’s proposal to increase the capital gains rate on high earners will impact ‘real Americans’
www.foxbusiness.com
Wealth strategist warns Biden’s proposal to increase the capital gains rate on high earners will impact ‘real Americans’
Biden proposing ‘undercover tax on just about everybody’: Wealth strategist
Wealth strategist Rob Luna said President Biden’s proposal to increase the capital gains rate on high earners will impact “real Americans.”
www.foxbusiness.com
when will democrats close the loopholes they created. Good question
I would agree if,and that is a BIG IF, this was actually happening ... but this has not proven to be the case .... the vast majority of the recent tax break went right back to the top end(80/20) ... just like what Warren Buffet has said ... if you let rich people keep more money ... they keep more money
Trump’s Corporate Tax Cut Is Not Trickling Down
Business investment is slowing, despite lofty promises, and worker bonuses were a mirage.
www.americanprogress.org
But, how do you get the money away from rich people?I would agree if,and that is a BIG IF, this was actually happening ... but this has not proven to be the case .... the vast majority of the recent tax break went right back to the top end(80/20) ... just like what Warren Buffet has said ... if you let rich people keep more money ... they keep more money
Trump’s Corporate Tax Cut Is Not Trickling Down
Business investment is slowing, despite lofty promises, and worker bonuses were a mirage.
They weren't just handed it up front, they competed with others in the same arena and came out on top. They will always come out on top. Here's what I mean.
Society applies values to every job, doing what it takes to be a doctor is assigned a significantly higher value than being a trash man and pay scale is assigned relatively even across the board.
So, if I have 100 million dollars, and I put that money to work through smart investments, there is a typical profit expected from that investment that makes doing the work of investing worth while. If we raise taxes, that will not eliminate rich investors, but to get an acceptable rate of return it will require (or allow) a higher margin between what is invested and typical gross revenue recieved on that investment.
Society wont change the value assigned to the investors money, what will change is the gross amount charged for the use of the investors money. The rich will still get richer.
I believe it is technology more than any other factor that allows for so much separation between the rich and the poor. Those who utilize technology will prosper, those who are afraid or slow to embrace it will work for those who did.
And add 25% to the tax expense of a corporation, and they may move away from the US to a land with better tax terms, to better compete in America. Strange how small technology has made the globe.
I would agree if,and that is a BIG IF, this was actually happening ... but this has not proven to be the case .... the vast majority of the recent tax break went right back to the top end(80/20) ... just like what Warren Buffet has said ... if you let rich people keep more money ... they keep more money
Trump’s Corporate Tax Cut Is Not Trickling Down
Business investment is slowing, despite lofty promises, and worker bonuses were a mirage.
according to Internal Revenue Service data released
analysis of IRS statistics — which shows tax-filing figures through late November 2019 — revealed:
Americans paid almost $64 billion less in federal income taxes during the first year under the Republican tax overhaul signed into law in late 2017 by President Donald Trump, with some of the sharpest drops clustered among taxpayers earning between $25,000 and $100,000 a year, even as the overall number of refunds dropped during a turbulent tax season.
A. The double-digit percentage decreases in average tax liability started with a 12.5% drop for people making $15,000 to $20,000 a year. Double-digit percentage reductions in liability continued for people making $25,000 to $30,000 (down 11.2%) through $100,000 to $200,000 (down 10.96%).
B. Taxpayers making between $40,000 and $50,000 a year had the largest fall in average tax liability, a 14.5% drop, while high-end households making between $250,000 and $500,000 had the second largest decrease, with a 14.4% liability reduction.
C. Taxpayers making at least $1 million had a 4.3% decrease in average tax liability.
D. Americans had $1.552 trillion in tax liabilities in 2019, compared with $1.619 trillion in total tax liabilities at the same point a year prior. That’s a drop of 4% on a year-over-year basis.
No matter the tax break too many available workers will only mean a depressed wage base. Technology harms wages for the middle and lower class when it displaces more jobs than it creates. There is zero incentive to pay more out in labor costs when the labor pool is full for applicants at the current wage,
bob99
Well-known member
Some of largest US companies paid no federal taxes over the ...https://www.dailymail.co.uk › news › article-9430419
What is fair and reasonable? Cut spending across the board and have a fair tax on corporations. Do away with several of these unnecessary loopholes.
What is fair and reasonable? Cut spending across the board and have a fair tax on corporations. Do away with several of these unnecessary loopholes.
OhioBobcatFan06
Well-known member
Joe Biden should hand out more free money. Money grows on trees
Biden revenue plan includes 'marriage penalty' putting some couples at a ‘significant disadvantage,' expert says
Some earners would find themselves in a higher bracket if they get married
www.foxbusiness.com
Democrats Hatred of Married and Successful continues !
Some earners would find themselves in a higher bracket if they get married
Biden revenue plan includes 'marriage penalty' putting some couples at a ‘significant disadvantage,' expert says
President Biden’s plan to raise revenue by increasing taxes on the wealthiest individuals and households appears to have a catch – it may penalize married couples.
www.foxbusiness.com
Democrats Hatred of Married and Successful continues !
Amazon backs corporate tax hike to pay for infrastructure
Amazon CEO Jeff Bezos announced on Tuesday that the company is supportive of raising the corporate tax rate to pay for President Biden’s infrastructure package. Bezos released a statement …
thehill.com
winbypin
Well-known member
There is a woman that makes 3 times as her partner/spouse? I was told that's not possible.Biden revenue plan includes 'marriage penalty' putting some couples at a ‘significant disadvantage,' expert says
Some earners would find themselves in a higher bracket if they get married
Biden revenue plan includes 'marriage penalty' putting some couples at a ‘significant disadvantage,' expert says
President Biden’s plan to raise revenue by increasing taxes on the wealthiest individuals and households appears to have a catch – it may penalize married couples.
Democrats Hatred of Married and Successful continues !
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Except for slappy.
I am not a tax expert but I believe that is because unmarried couple files separately ... thus neither over $400,000Biden revenue plan includes 'marriage penalty' putting some couples at a ‘significant disadvantage,' expert says
Some earners would find themselves in a higher bracket if they get married
Biden revenue plan includes 'marriage penalty' putting some couples at a ‘significant disadvantage,' expert says
President Biden’s plan to raise revenue by increasing taxes on the wealthiest individuals and households appears to have a catch – it may penalize married couples.
Democrats Hatred of Married and Successful continues !
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The married couple could avoid the tax increase by simply filing separately
... and even if the don’t the only part of the 3% tax is the $10,000 over $400,000 ... not the entire amount.
... more fake news from the right!
The Misguided Philosophy of Tax and Spend
Middle-class families earning well below $400,000 will share with the wealthy the burden of Biden’s spending binge—‘tax-free.’
www.wsj.com
President Biden has promised not to raise taxes on “anyone” (presumably any family) earning less than $400,000 a year. But I thank Kevin Hassett (“The Biden Plan for Economic Sclerosis,” op-ed, April 9) for exposing how we all will pay for the president’s spending binge, well beyond what’s needed for pandemic relief or infrastructure.
Mr. Hassett states, “Democrats have never cared about paying for the trillions in pandemic-relief spending,” confident that “taxes aren’t necessary to finance spending when government can print money.” Each new dollar demotes the buying power of every existing dollar, whether as income or retirement savings. Thus, without even increasing taxes per se, Mr. Biden can in effect tax all families.
Governments cannot create wealth; they can only redistribute it. Middle-class families earning well below $400,000 will share with the wealthy the burden of Mr. Biden’s spending binge—“tax-free.”
Middle-class families earning well below $400,000 will share with the wealthy the burden of Biden’s spending binge—‘tax-free.’
Opinion | The Misguided Philosophy of Tax and Spend
Middle-class families earning well below $400,000 will share with the wealthy the burden of Biden’s spending binge—‘tax-free.’
www.wsj.com
President Biden has promised not to raise taxes on “anyone” (presumably any family) earning less than $400,000 a year. But I thank Kevin Hassett (“The Biden Plan for Economic Sclerosis,” op-ed, April 9) for exposing how we all will pay for the president’s spending binge, well beyond what’s needed for pandemic relief or infrastructure.
Mr. Hassett states, “Democrats have never cared about paying for the trillions in pandemic-relief spending,” confident that “taxes aren’t necessary to finance spending when government can print money.” Each new dollar demotes the buying power of every existing dollar, whether as income or retirement savings. Thus, without even increasing taxes per se, Mr. Biden can in effect tax all families.
Governments cannot create wealth; they can only redistribute it. Middle-class families earning well below $400,000 will share with the wealthy the burden of Mr. Biden’s spending binge—“tax-free.”
Amazon backs corporate tax hike to pay for infrastructure
Amazon CEO Jeff Bezos announced on Tuesday that the company is supportive of raising the corporate tax rate to pay for President Biden’s infrastructure package. Bezos released a statement …
Big corporations are always more supportive of tax increases and increased regulation. It maintains the status quo and undercuts the growth and innovation of smaller competitors that simply don't have the same amount resources to comply.
Not going to agree with you in this one. Some big business perhaps. Amazon uses the nations infrastructure possibly more than any other company in the United States. Sure they would like all other companies to pitch in and add rural internet so they can add millions more customers.
On the other hand, a shipping company that moves freight through international waters would hate the added tax. They dont need government t infrastructure to a great degree. They can go from one private harbor to another and never use roads or bridges. A canal sometimes is nice. But they are largely competing with companies based in nations that have lower tax rates such as Ireland.
Maersk is the world's largest shipping company and they are based in Copenhagen Denmark. They get excited when Biden raises our cost to do business in America.
If I'm only making 5 billion a year, a 7% increase is quite a healthy loss of revenue. That's 350 million.
MoeDude
LIVE FREE OR DIE!
Why do you Lefty Loonies like to lie so much? 3 of the top five deficit gains occurred under Democrat Presidents OMG The Messiah Obama is one of them.
Thanks Joe !
U.S. Inflation Is Highest in 13 Years as Prices Surge 5%
The rapid rise in consumer prices in May reflected a surge in demand and shortages of labor and materials
The U.S. economy’s rebound from the pandemic is driving the biggest surge in inflation in nearly 13 years, with consumer prices rising in May by 5% from a year ago.
The Labor Department said last month’s increase in the consumer-price index was the largest since August 2008, when the reading rose 5.4%. The core-price index, which excludes the often-volatile categories of food and energy, jumped 3.8% in May from the year before—the largest increase for that reading since June 1992.
U.S. Inflation Is Highest in 13 Years as Prices Surge 5%
Consumer prices continued to rise rapidly in May as the economic recovery picked up, reflecting a surge in demand along with shortages of labor and materials.
www.wsj.com
the article has some interesting data ................
Proposals to tax “step-up basis” could result in a 68.9% combined capital gains rate plus estate tax on many successful investors, entrepreneurs and small-business owners. Estates of New York City residents would be subject to an additional 14.776% income and 16% estate tax, for a total tax of 80.7%.
..................
Few small businesses or farms could survive these proposed taxes. Assets would need to be sold to raise the cash to pay the tax. Jobs would be lost to liquidations. Many retirement plans and family assets would have to be zeroed out. Tax is generally due in cash nine months after death, with installment provisions for large holdings in businesses and farms.
www.wsj.com
Proposals to tax “step-up basis” could result in a 68.9% combined capital gains rate plus estate tax on many successful investors, entrepreneurs and small-business owners. Estates of New York City residents would be subject to an additional 14.776% income and 16% estate tax, for a total tax of 80.7%.
..................
Few small businesses or farms could survive these proposed taxes. Assets would need to be sold to raise the cash to pay the tax. Jobs would be lost to liquidations. Many retirement plans and family assets would have to be zeroed out. Tax is generally due in cash nine months after death, with installment provisions for large holdings in businesses and farms.
Opinion | Biden Pushes for Wartime Tax Rates
Unlike the levies of the world wars, his would be permanent and without extensive deductions
www.wsj.com
OldSoulon
Well-known member
Yeah, but I got free COVID testing and vax
Hammerdrill
Well-known member
Yeah, but, but, but the child tax credit.