[xNYer]

Originally Posted by retiredguy123

I think that one thing that some people don't seem to understand is that almost all tax revenue comes from private businesses that make a profit. Our Government does not generate income. So, any taxing policy to raise revenue must take into account that it cannot prevent or impede private businesses from succeeding, or you will lose your income source.

About 48 percent of federal revenue comes from individual income taxes, 9 percent from corporate income taxes, and another 35 percent from payroll taxes that fund social insurance programs. The rest comes from a mix of sources.

[retiredguy123]

Originally Posted by xNYer

About 48 percent of federal revenue comes from individual income taxes, 9 percent from corporate income taxes, and another 35 percent from payroll taxes that fund social insurance programs. The rest comes from a mix of sources.

Where do you think those individuals get their income to pay income and payroll taxes? They get it from the profit made by corporations and other businesses. Or, if they are Government employees, they get their income from the Government who got it from corporations and other private businesses. I think that almost all wealth and income in the country comes from the profits made by private businesses.

[njbchbum]

Originally Posted by Love2Swim

But we have corporations that make billions in profits each year and pay zero tax. That isn't right either. Corporations should be made to pay their fair share.

What is a Corporation's - or anyone's - "fair share"?

[njbchbum]

Originally Posted by sajoe

People with pensions and 401k accounts among workers today is rare. The last time I saw the figures 52% of the population are receiving some type of federal aid with the balance paying tax. How long can the government (and how many states?) operate at a deficit? As long as people BELIEVE a dollar is worth a dollar.

2017 - but govt data is always slow to arrive!

Does the Average American Have a 401(k)? | The Motley Fool

"Data from the Census Bureau suggests that as little as 14% of all employers offer a 401(k), yet Census researchers recently estimated that 79% of Americans work for an employer that sponsors a 401(k)-style retirement plan. How is that possible? Large companies that employ high numbers of workers are the most likely to sponsor retirement plans.

All that said, not everyone who's offered an employer-sponsored plan actually takes advantage of it. Of those 79% of Americans who get the choice to fund a 401(k), only 41% opt to participate. As such, just 32% of the total workforce is saving in a 401(k)."

[billethkid]

There is another question needing to be addressed.

Why has it been this way ....forever....regardless what political power is in charge in Washington??????

Why do US Corporations hold billions of profits in over seas locations/institutions instead of repatriating the profits back to the USA? The tax structure....this has always been the case regardless what political power is in charge in Washington.

There are some things that are/have been bi-partisan......that goes without discussion.....hint: has nothing to do with representing the benefit of the voters!!!

[Jdmiata]

Originally Posted by rjm1cc

As long as we vote for the people that want to give us something so we vote for them we will have a problem.

Absolutely correct !

[HimandMe]

Originally Posted by JimJohnson

One sure fact is it has gotten worse in the last two years. We need to get back the way things were headed in the previous 8 years.

More jobs, good economy, deploying troops? Seems like better to me.

[New Englander]

Originally Posted by Rollie

There were several candidates that ran in the last presidential election whose platform was reducing the federal deficit. They all lost. Nobody cares. What people care about, are give aways.

Rollie

I could use a free cell phone.

[NotFromAroundHere]

Originally Posted by Rollie

There were several candidates that ran in the last presidential election whose platform was reducing the federal deficit. They all lost. Nobody cares. What people care about, are give aways.

Rollie

They didn't all lose. One of them won.

[Bucco]

Originally Posted by HimandMe

More jobs, good economy, deploying troops? Seems like better to me.

/////

[dillywho]

Let me preface this by saying that I did not read every post here. I do, however, have a comment of my own. The debate about the deficit/debt is interesting and there are some valid points. That being said, I also have a question:

If everyone (everyone being a general term and not precise) is so concerned that the taxes are not sufficient, then why all the outcry when taxes are raised? I'm not talking about business taxes, but individual taxes. Brings to mind the old adage of, "Let George do it; just leave me alone."

Personally, I have enjoyed the tax cuts and the rise in my retirement funds. And, yes to the poster who pointed out that we, as retirees or participants in 401k's or mutual funds or whatever, ARE indeed those "greedy shareholders".

[Bogie Shooter]

Originally Posted by NotFromAroundHere

They didn't all lose. One of them won.

And the deficit has increased!

[anothersteve]

///

[anothersteve]

Originally Posted by NotFromAroundHere

They didn't all lose. One of them won.

Originally Posted by Bogie Shooter

And the deficit has increased!

I don't get your point.

US Debt by President: By Dollar and Percentage

Steve

[Topspinmo]

Originally Posted by retiredguy123

Wow! There are so many that I couldn't list them all. Here are two. Cut the number of Federal employees and their salaries and benefits. Federal employees make so much more money for less work than other workers that it is embarrassing. And, cut out the risky student loans. So far, the student loan debt is 1.6 trillion dollars, and it doesn't appear that these loans will be paid back. But, the Government keeps shelling them out and colleges keep raising prices to spend that money. Totally unnecessary.

There few types of government employees GS and WG are majority. WG does all the manual work and GS employees do all the paperwork, figureheads, and bean counters. WG employees do have to show up to work on time, and actually have or accomplish something, and leave at end of shift down to minute.

WG employees don’t Have the option of flex time. Which means you can come to work when you feel like it, take long lunch, and go home early, cause GS employees account for their own time keeping. where WG employees are controlled by WS or GS employees that are time keeper DONE to MINUTE. So please don say ALL government employees don’t earn their wage cause some do.