Huge Corporate Profits- so Why do They Need a Tax Cut?

a reply to: LogicalGraphitti

LOL

No, burn even the ashes!!!

I am just a jerk today. It was a bad day from really early up until right now when its over.

I just hate the idea of taxes. Its abusive considering all the other ways we are robbed at every turn.

Then the returns....arent for us.

Roads? Try parking after paying for the roads without paying to rent a spot for an hour.

Lost your 2.75 bus ticket? Pay a $125 fine.

Cop is in a bad mood? Tickets, tickets for everyone each over a hundred bucks.

And so on.

I dont know. I keep getting this thought of Romans living with smelly barbarians just to keep more of what they earn and get out of corruption central.

I get that now.

Nah forget it. Just burn it all.

LOL

originally posted by: Bluntone22

originally posted by: CB328

BECAUSE the Federal tax rate for corporations is among the HIGHEST of any country at 35%

No one pays 35%, most corporations pay less than 10% so this tax rate argument is a bunch of BS and getting very old.

And it doesn't answer my question of why they need a tax cut when they are already drowning in money.

That money needs to be spent on government programs where it actually helps people instead of being put into tax shelters.

So if they don't pay taxes now, why are you bothered by a tax cut?
We already spend more tax money than any other country.
We have a spending problem.

NO - we have a PRIORITY problem.

originally posted by: dfnj2015
a reply to: CB328

Corporate taxes are used to prevent competition and promote cartels and monopolies. I would like to see all corporate taxes abolished of just have a simple flat rate national sales tax. Competition is the only thing we have to wring out the inefficiencies of exorbitant CEO compensation packages.

Sales taxes are extremely repressive. They effect the entire income of a majority of people because most people spend all of there income just to get by - the wealthy spend very little (as a percentage of income) and therefore pay a much lower rate then working class people.

a reply to: CB328

Huge Corporate Profits- so Why do They Need a Tax Cut? - They dont, they just want one.

Someone needs to ask the corproate world just what level of corporate tax is fair and which are they happy to pay and which will see them to never need another?

When we see a ball rolling along we can use its past path to predict its future direction. Will we get to the point where the corporate tax rate will be ZERO?

Will it even get to the point where they pay negative tax? ie, for every dollar of profit they make, they will get a bouns of one dollar from the remaining tax payers?

originally posted by: Azureblue
a reply to: CB328

Huge Corporate Profits- so Why do They Need a Tax Cut? - They dont, they just want one.

Someone needs to ask the corproate world just what level of corporate tax is fair and which are they happy to pay and which will see them to never need another?

When we see a ball rolling along we can use its past path to predict its future direction. Will we get to the point where the corporate tax rate will be ZERO?

Will it even get to the point where they pay negative tax? ie, for every dollar of profit they make, they will get a bouns of one dollar from the remaining tax payers?

They're already 'paying' negative tax.

Taxpayers have been topping-up the earnings of low paid workers for years.

Corporations should never have been allowed to get so huge and so obscenely wealthy in the first place.

Corporations are like parasites that have grown bigger than their host.

originally posted by: Phage
a reply to: doobydoll

Of course not, silly.
Wages will go up.

Haha. Good joke.

originally posted by: seasonal
We (the consumer) also pay for raw materials. I fail to see why a corp that enjoys all the benefits of being a person should be deprived of paying their taxes.

Precisely, you pay for all of it, including the taxes. Asking corporations to pay taxes only means you want to pay more taxes since it is a pass through charge.

originally posted by: LogicalGraphitti

The feds need to first figure out how to legislate against off-shoring corporate cash. At 35%, anyone in business would do whatever it takes (legally) to avoid paying that much. It's highway robbery. Lower the rate to make it reasonable and block off-shoring and we might keep the money at home.

I think the bulk of the off-shoring is due to double taxation and our high rate. If these are mitigated that activity should fall and we could even see foreign companies infusing cash into our system. It is a zero sum game, the money needs to go somewhere.

originally posted by: pavil

The corporate tax isn't very progressive, ie, a smaller company gets taxed at the same rate as Apple or Exxon. In fact due to their lobbying efforts, the big boys probably pay less in percent sometimes.

That is what I said.

I have no issue with behemoths paying more in taxes, that's how it works on the individual level. Congress is beholden to the big Multinationals rather than small business.

I don't want to pay any corporate taxes but people have their heads so far up their asses they don't understand it's a hidden tax that only is onerous for the little guy and will advocate for high corporate taxes.

a reply to: AugustusMasonicus

Augustus? OMG the end really is nigh! You posted something with actual content!

Quick! Everybody! Run for the hills!

originally posted by: tadaman
a reply to: LogicalGraphitti

LOL

No, burn even the ashes!!!

I am just a jerk today. It was a bad day from really early up until right now when its over.

I just hate the idea of taxes. Its abusive considering all the other ways we are robbed at every turn.

Then the returns....arent for us.

Roads? Try parking after paying for the roads without paying to rent a spot for an hour.

Lost your 2.75 bus ticket? Pay a $125 fine.

Cop is in a bad mood? Tickets, tickets for everyone each over a hundred bucks.

And so on.

I dont know. I keep getting this thought of Romans living with smelly barbarians just to keep more of what they earn and get out of corruption central.

I get that now.

Nah forget it. Just burn it all.

LOL

I have those days too!

Where I live, they have to get the citizens to vote inspecial option taxes to pay to pave roads. That's ridiculous. It means the budget doesn't account for paying for the services they're obligated to pay for. Instead, they spend money on gender-neutral bathrooms in all the schools, raises for county employees and generally less important things.

a reply to: CB328

Huge Corporate Profits- so Why do They Need a Tax Cut?

So government pensions, IRA's,401k's, and other accounts make more money for their golden years.

Ya know where the middle class benefits.

originally posted by: LogicalGraphitti
You've got that all wrong. Our economic system is fantastic. Of course there's competition but it's not like a game where time runs out and you have one winner. In a capital society, the competition is what keeps companies improving their products/services. Those that don't do that will fail and someone else takes their place. Happens all the time. It takes a lot of work to be successful. That part, work, is what I think a lot of people have a problem with.

I didn't say it wasn't good, though I'll readily admit that it's not perfect. Personally, I wouldn't mind seeing a 0% corporate tax rate, provided we made some big changes to capital gains taxes. But I'm not even sure if that would be enough, once more nations adopt a 0% tax rate, some enterprising nation will adopt a -1% rate, then a -2% rate, and so on. Having the consistently lowest tax rate in the world isn't a battle that we can win, and probably not even one we should try to fight.

originally posted by: AugustusMasonicus
I don't want to pay any corporate taxes but people have their heads so far up their asses they don't understand it's a hidden tax that only is onerous for the little guy and will advocate for high corporate taxes.

All taxes are eventually paid through an income/payroll tax. But then people argue that we shouldn't have income taxes either...

originally posted by: Aazadan
All taxes are eventually paid through an income/payroll tax. But then people argue that we shouldn't have income taxes either...

Lower income taxes would be fine with me.

originally posted by: AugustusMasonicus

originally posted by: seasonal
We (the consumer) also pay for raw materials. I fail to see why a corp that enjoys all the benefits of being a person should be deprived of paying their taxes.

Precisely, you pay for all of it, including the taxes. Asking corporations to pay taxes only means you want to pay more taxes since it is a pass through charge.

The point went over your head.

The govt costs what it costs to run.

Either way it is paid. We can all beat our chests and lower the already historic low effective corp tax rates and the tax money comes from other things. It will come from somewhere, it isn't magic.
The main difference is if we lower taxes on corps there is no guarantee of savings for the consumer. Again, the money will come from somewhere, unless the govt can go $20,000,000,000,000 in debt. But things will have to be paid for, or a war comes and evens things out.

originally posted by: seasonal
The point went over your head.

The govt costs what it costs to run.

Did it now? Your simplistic point of 'it costs what it costs' is not really relevant. It actually costs more than it costs and it prints money to sell bonds to us to cover that shortfall now. How does your tax thought process address that aspect?

Either way it is paid. We can all beat our chests and lower the already historic low effective corp tax rates and the tax money comes from other things. It will come from somewhere, it isn't magic.
The main difference is if we lower taxes on corps there is no guarantee of savings for the consumer. Again, the money will come from somewhere, unless the govt can go $20,000,000,000,000 in debt. But things will have to be paid for, or a war comes and evens things out.

Do you understand the global money supply is zero sum? Right now a good portion is somewhere else due to prevailing rates. If we attract the money from elsewhere it leads to higher revenue here.

a reply to: AugustusMasonicus

Higher revenue for whom?

originally posted by: seasonal
Higher revenue for whom?

Your corpulent government via taxation on investment capital.

originally posted by: AugustusMasonicus
Lower income taxes would be fine with me.

But then, how would we fund the government? Republicans have been trying to find additional fat to cut in the budget for a decade now, and have failed. I really don't think there's anything reasonable left to cut anymore to reduce spending. Lowering income taxes would therefore require increasing taxes elsewhere.