Corporate Taxes

[Guest]

Recent report from a "left leaning organization" shows that dozens of large US Corporations paid little or no Federal Taxes last year.

http://http://www.economicpopulist.org/content/naming-names-corporations-who-pay-no-taxes

Here's my question, should we lower the tax rate for corporations as some suggest, implement Cain's 9-9-9 plan, or should we impose the Flat tax as others have suggested and eliminate all the loop holes and current tax code?

[Guest]

...Here's my question, should we lower the tax rate for corporations as some suggest, implement Cain's 9-9-9 plan, or should we impose the Flat tax as others have suggested and eliminate all the loop holes and current tax code?In another thread here, it was noted that in the last three years 11% of the Fortune 500 companies have paid no income tax at all for the last three years. 28% of the Fortune 500 paid no income taxes in at least one of the last three years.

That being the case, what chance do you think that any of the tax revisions that you suggest get passed? With the amount of money that the non-tax paying companies will pour thru K Street into the pockets of the members of Congress, I'd suggest that none of these plans has any chance at all of enactment into law.

People can get all excited about Herman Cain's 9-9-9 plan, but about the only parts of that idea that have a chance of getting passed will total 18, not 27. There's no one to represent the public, so Congress might very well pass the 9% tax on personal income and 9% in additional sales taxes. But the chance of getting the 9% corporate income tax passed is zero, zilch, nada!

[Guest]

In another thread here, it was noted that in the last three years 11% of the Fortune 500 companies have paid no income tax at all for the last three years. 28% of the Fortune 500 paid no income taxes in at least one of the last three years.

That being the case, what chance do you think that any of the tax revisions that you suggest get passed? With the amount of money that the non-tax paying companies will pour thru K Street into the pockets of the members of Congress, I'd suggest that none of these plans has any chance at all of enactment into law.

People can get all excited about Herman Cain's 9-9-9 plan, but about the only parts of that idea that have a chance of getting passed will total 18, not 27. There's no one to represent the public, so Congress might very well pass the 9% tax on personal income and 9% in additional sales taxes. But the chance of getting the 9% corporate income tax passed is zero, zilch, nada!

This is exactly why "we the people" need to rally and vote OUT the incumbents, including Obama, and vote IN candidates who are committed to abolishing the current tax code and all its loopholes, and replacing it with a flat tax that brings back corporate income offshore, and accommodates lower income people, i.e. Perry's or Cain's (if thinking people will turn their minds toward the economy instead of the current "high tech lynching" of Herman Cain, a la Clarence Thomas).

[Guest]

This is exactly why "we the people" need to rally and vote OUT the incumbents, including Obama, and vote IN candidates who are committed to abolishing the current tax code and all its loopholes, and replacing it with a flat tax that brings back corporate income offshore, and accommodates lower income people, i.e. Perry's or Cain's (if thinking people will turn their minds toward the economy instead of the current "high tech lynching" of Herman Cain, a la Clarence Thomas).As I've said, any of these ideas will likely be impossible to get into real legislation.

Think about it, we saw how much money the banks poured into eviscerating the Dodd-Frank bill, and the millions the health insurance companies, drug companies, hospitals and doctors spent to make last year's healthcare bill a Rube Goldberg gobbledegook bill that permits them all to make more money, not "bending the cost curve" one whit.

How much money do you think corporate America will pour into the pockets of Congress to make sure that they can continue to profit offshore taxfree, and even avoid paying taxes here in the U.S.? How easy will it be to eradicate the tax subsidies given to the already hugely profitable oil companies, to the corn producers who sell corn to make unneeded ethanol, or to the sugar beet producers who supply the sugar mills to add more and more to the huge supply of unneeded sugar that this country will never use?

I really hate to be a "glass half full" person, but have you seen anything done by anyone in Washington that suggests they might be willing to enact legislation such as you've proposed? Heck, we borrow 42 cents of every dollar the government spends and have a national debt of $15 trillion and the "supercommittee" is widely expected not to be able to agree on $1 trillion in spending cuts or any modification of tax rates, loopholes or benefits. And modifying the entitlement programs, that everyone knows needs to be done...that doesn't even register a comment by any of the 535.

Forgive me if I ask who it might be who would govern as you suggest?

Let me ask you a question. I don't know if you live in The Villages or not. But our Congressman is Rich Nugent, a Republican from southern Sumter County. I don't know whether any Democratic candidates have even filed to run against Nugent. But would you vote for them, throwing incumbent Republican Nugent out of office? Would anyone who reads this cast such a vote? I will even though I like Nugent, on the principle of throwing out the incumbents. But how many here would swallow hard and vote for a Democrat to achieve that result?

If your answer is, "I'm a conservative, no I could never vote for a Democrat", you wouldn't be alone. That kind of thinking...that "my Congressman and Senator are OK, it's all those other guys that are the problem"...is exactly why all the talk of throwing out the incumbents is likely never to be achieved. Until we elect a Congress who is at least willing to talk with one another, nothing will change...regardless of their party affiliation.

So I ask you, will you vote to throw Republican Rich Nugent out of office? C'mon, everyone jump in and tell us how you feel, what you're really willing to do to achieve change in Washington?

[Guest]

VK........While your comments paint a picture that suggests change is hopeless, but your banner at bottom of all your posts gives a means to accomplish real change in DC.