[Ben Franklin]

In 2018 social security had a $3 billion dollar surplus, after expenses. That's total revenue from people paying in to social security ($1.003 trillion) and out go that year. So where does the true spending exist?

[Chi-Town]

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.

They were slow but steady times. Very little drama compared to today.

Sent from my SM-N960U using Tapatalk

[dewilson58]

Originally Posted by Ben Franklin

In 2018 social security had a $3 billion dollar surplus, after expenses. That's total revenue from people paying in to social security ($1.003 trillion) and out go that year. So where does the true spending exist?

Refer to Post #18.

[ColdNoMore]

Originally Posted by Love2Swim

The article you quoted also said "Most analysts think any real solution will involve a combination of higher taxes and cost savings in the government’s huge benefit programs of Social Security and Medicare."

I think it is abundantly clear, that the promises that the tax cuts would pay for themselves, were just plain wrong. And frankly, it really irks me that companies are getting these huge tax breaks, with no guarantee that they will reinvest in this country or move their business back to this country. Instead, as predicted, companies focused on buying back stocks and increasing dividends, which benefits shareholders, not workers.

...


But hey, at least I can now deduct expenses...for my private jet.

[ColdNoMore]

Originally Posted by Chi-Town

People sure we're concerned 2008-2016.

I wonder why?

Interestingly, we have now spent MORE THAN DOUBLE on farmer bailouts, than on all of the loans made to automobile companies...during the Great Recession.

I would link it, but the link might be too political...so y'all can easily research it yourself.

The difference though?

The loans were mostly paid back.

And yet, I'll bet a high % who were adamantly against the auto loans and the hundreds of thousands of people it helped keep a job...have no problem with paying large corporate farms for self-inflicted wounds.

[ColdNoMore]

Originally Posted by villagerjack

You assume workers are NOT SHAREHOLDERS? Don’t most workers have 401K or Union Pension etc? Also we now have the lowest unemployment rate in history ...that means MORE WORKERS so workers are benefitting in many different ways, Lastly, inflation is nowhere in sight so interest rates are much lower making the financing of the deficit a lot cheaper.

BARELY "most."

As in 52-54%.

Meaning, 46-48% of Americans...have NO stocks whatsoever.

Stocks of any kind (click here)

A once-every-three-years study by the Federal Reserve Board found that in 2016, 51.9 percent of families owned stocks, either directly or as part of a fund.

And in 2017, Gallup found that 54 percent of respondents owned stocks either directly or as part of a fund.

[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

[Bay Kid]

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.

When I had a small business we paid our more than fair share. There were a few years we did ok and at the end of the year we had to spend money for the company, or give it to the gov. Hard for any business to save any money to protect our company for the next year. Gov. is a big business that can only get more money to give away is to raise taxes on the working people.

[Topspinmo]

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.

And you know this? They pay taxes they don’t make billions without paying taxes.

[Topspinmo]

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

Cause most knew it was a joke. Say anything to get elected.

[Topspinmo]

Originally Posted by ColdNoMore

I wonder why?

Interestingly, we have now spent MORE THAN DOUBLE on farmer bailouts, than on all of the loans made to automobile companies...during the Great Recession.

I would link it, but the link might be too political...so y'all can easily research it yourself.

The difference though?

The loans were mostly paid back.

And yet, I'll bet a high % who were adamantly against the auto loans and the hundreds of thousands of people it helped keep a job...have no problem with paying large corporate farms for self-inflicted wounds.

Did you forget the famous peanut farmer?

[Love2Swim]

Originally Posted by Topspinmo

And you know this? They pay taxes they don’t make billions without paying taxes.

We're talking about net taxes. According to CBS News, there are at least 60 large corporations that paid no income tax on $79 billion in profits in 2018. Amazon and Netflix should have paid $16 billion alone, but instead got tax REBATES. The new law cut the statutory tax rate to 21 percent, while leaving intact most of the tax breaks and loopholes, which allowed profitable companies to zero out their income taxes.

[dewilson58]

Originally Posted by Love2Swim

We're talking about net taxes. According to CBS News, there are at least 60 large corporations that paid no income tax on $79 billion in profits in 2018. Amazon and Netflix should have paid $16 billion alone, but instead got tax REBATES. The new law cut the statutory tax rate to 21 percent, while leaving intact most of the tax breaks and loopholes, which allowed profitable companies to zero out their income taxes.

Losses from prior years, tax incentives to invest in the future & employees.................all legit. Corporate Taxes are just a pass-thru.


I'm good with that.

[Viperguy]

Corporations don't pay taxes, their customers pay them. Taxes are a cost of business and they are passed on. Taxes are reduced by deductions for capital expenditures.... ie expansion!

[blueash]

Originally Posted by cgilcreast

Corporations don't pay taxes, their customers pay them. Taxes are a cost of business and they are passed on. Taxes are reduced by deductions for capital expenditures.... ie expansion!

So when I paid my city taxes which covered police, roads, snow removal, city employees, holiday decorations, local courts etc etc, were those services which only the citizens of the city utilized? Or should the corporations in that city also pay for police and all the other city services? Why should XYZ corp get the street plowed to their business if they pay no tax? Why should the police care if they are robbed if they pay no tax. Corporations use services just like people do. And corporations should pay. Why don't you argue they should get their water and electricity for free also, as they just pass on those costs in the cost for products?
The same principle applies to state and federal taxation. Corporations utilize all the same services as individuals.