My Prediction: A U.S. "Berlin Wall" of regulations My Prediction: A U.S. "Berlin Wall" of regulations - Page 3 - Talk of The Villages Florida

My Prediction: A U.S. "Berlin Wall" of regulations

Closed Thread
Thread Tools
  #31  
Old 08-27-2014, 11:42 AM
Rags123 Rags123 is offline
Veteran member
Join Date: May 2014
Posts: 673
Thanks: 1
Thanked 1 Time in 1 Post
Default

Quote:
Originally Posted by TexaninVA View Post
I've worked for corporations too ... no one is saying they are Boy Scouts but they are efficient. I also don't think IBM is the evil caricature you seem to paint. You may want to chill a bit or share some specifics about your days at IBM to back up the evil doings intimations.

Also I would note, it’s not just corporations … if people writ large were left unchecked it would not be pretty. That’s why we have laws
Do not know much about IBM as a citizen of communities, but found this bit from Nov 2012

"You may have suspected that IBM was the nation’s most community-minded company. Now you have proof. Last week, BloombergBusinessweek published the first-ever Civic 50, a groundbreaking national initiative to identify the 50 companies having the greatest community impact. IBM was ranked No. 1."

- See more at: Why IBM Is America's Most Community-Minded Company | Points of Light
  #32  
Old 08-27-2014, 11:44 AM
B767drvr's Avatar
B767drvr B767drvr is offline
Veteran member
Join Date: Dec 2012
Posts: 599
Thanks: 194
Thanked 241 Times in 58 Posts
Default

Quote:
Originally Posted by blueash View Post
Keep in mind that every dollar saved by BK is going to have to be made up by people and small businesses that can't benefit from this tax scheme.
Since the US BORROWS $.44 of every dollar spent, no one has to "make up" anything. We'll just borrow more. See how easy that was. <no grin>

How about Buffet wanting everyone to pay more tax, but he's partly funding this deal to avoid US taxes? Any hypocrisy?
  #33  
Old 08-28-2014, 08:26 AM
allus70 allus70 is offline
Member
Join Date: Oct 2011
Posts: 84
Thanks: 60
Thanked 39 Times in 13 Posts
Default

Yes, we do have the highest corporate tax rate in the world....but, that's only 1/2 the story. Many large companies hire teams of lawyers and CPAs that do nothing but work on ways to reduce taxes. Who gets stuck holding the bag?

Here's a list of 111 of America's largest corporations that pay no taxes at all:

http://ctj.org/corporatetaxdodgers/allzerotaxyears.jpg

What we need is tax reform, for companies and individuals.
Considering the current political climate, what are the chances?


Interesting article....ACA helping to stabilize Medicare

http://www.nytimes.com/2014/08/28/up...abt=0002&abg=0
  #34  
Old 08-28-2014, 08:48 AM
Dr Winston O Boogie jr's Avatar
Dr Winston O Boogie jr Dr Winston O Boogie jr is offline
Sage
Join Date: May 2012
Posts: 7,940
Thanks: 1
Thanked 2,157 Times in 772 Posts
Default

This is the answer, but the politicians in Washington won't allow it to happen.


home - FairTax.org
__________________
The Beatlemaniacs of The Villages meet every Friday 10:00am at the O'Dell Recreation Center.

"I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800.
  #35  
Old 08-28-2014, 08:57 AM
TexaninVA's Avatar
TexaninVA TexaninVA is offline
Sage
Join Date: Jul 2008
Location: Village of Largo
Posts: 2,753
Thanks: 428
Thanked 878 Times in 306 Posts
Default

Quote:
Originally Posted by blueash View Post
A former treasury secretary has suggested lowering the corporate tax rate to zero. ZERO. The gist of his argument is that as the corporate profit is just a conglomeration of the profit of its shareholders that instead we simply allow that profit to flow to the shareholders and tax it at that time. And that those profits be taxed as income. I used to be a partner in an LLC. It made money but its taxes were zero. The money it made came to me as regular income. If all corporations operated this way then there would be no tax inversions and we would get rid or reduce the government discount on capital gains. If Burger King wants to have its headquarters in Canada, no difference to an American shareholder. Now this also has the benefit of encouraging better care for the corporate employees as shareholders do not derive as great a benefit from taking all the profits themselves and there is no reason to hold cash offshore in a tax avoidance strategy. Keep in mind that every dollar saved by BK is going to have to be made up by people and small businesses that can't benefit from this tax scheme.

"The best way to insure that it's shareholders and owners who actually pay the corporate income tax is to make it a tax on capital gains enjoyed by shareholders and owners rather than a tax on corporate income"
If I correctly understand what you are proposing, I think it's a very enlightened and creative solution. It's makes economic sense, it grows the economy, and seems like it's win-win .... which is what a successful society is all about.
  #36  
Old 08-28-2014, 10:49 AM
Villages PL Villages PL is offline
Sage
Join Date: Sep 2011
Location: Belvedere
Posts: 5,279
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by allus70 View Post
Many large companies hire teams of lawyers and CPAs that do nothing but work on ways to reduce taxes.
Do those teams of lawyers and CPAs work for free or does it represent a big expense for the company?

Do companies get tax breaks for no reason or do they generally have to do something or in return?

Last edited by Villages PL; 08-28-2014 at 11:54 AM.
  #37  
Old 08-28-2014, 10:55 AM
Dr Winston O Boogie jr's Avatar
Dr Winston O Boogie jr Dr Winston O Boogie jr is offline
Sage
Join Date: May 2012
Posts: 7,940
Thanks: 1
Thanked 2,157 Times in 772 Posts
Default

Quote:
Originally Posted by TexaninVA View Post
If I correctly understand what you are proposing, I think it's a very enlightened and creative solution. It's makes economic sense, it grows the economy, and seems like it's win-win .... which is what a successful society is all about.
Of course it does. Again, politicians, in an effort to garner votes try to create a bogey man which they will vow to fight against. In this case, it's corporation which they tell us are all evil and don't pay enough in taxes.

What a lot of people don't realize is that corporation don't really pay taxes at all. The money that they pay in taxes is simply collected from the consumers. It is added into the cost of products and services that corporations provide.

The ultimate consumers pays all of the money into the federal government. Everyone else are just middle men.
__________________
The Beatlemaniacs of The Villages meet every Friday 10:00am at the O'Dell Recreation Center.

"I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800.
  #38  
Old 08-28-2014, 11:02 AM
Tennisnut Tennisnut is offline
Senior Member
Join Date: Mar 2011
Posts: 391
Thanks: 15
Thanked 68 Times in 13 Posts
Default

Quote:
Originally Posted by Papa Cuma View Post
We need their tax dollars to pay their employees ObamaCare. Or lower their taxes if they pay their employees a living wage and medical benefits.
Fortunately for Canada with their lower corporate taxes, Burger King will now be able to help support the Canadian government run health care. Puzzling, isn't it?
  #39  
Old 08-28-2014, 11:31 AM
Cajulian Cajulian is offline
Senior Member
Join Date: Mar 2013
Posts: 151
Thanks: 1
Thanked 1 Time in 1 Post
Default

Quote:
Originally Posted by Papa Cuma View Post
I spent 19 years at IBM. I know how corporations work. I also know that corporations need to be regulated for the benefit of our communities. Unchecked, a corporation will extract as much work from an employee as it can and pay that individual as little as it can get away with. It will poison our groundwater and waterways, filthy up the air we breathe and give nothing back to the communities other than those that live on the hills. I know intimately about such corporations and how they would function if left to there own devices.
Papa, please tell us how you intimately know how most corporations operate, when you primarily worked for one very good Corporation, IBM.

You seem to have a disdain for corporate responsibility and accountability. Even though, I believe IBM contributed greatly to our economic technology growth in our country and abroad. They also treated their employees and communities quite well.

Corporate Tax as well as the entire Taxation system in the U.S. is very much in need of Reform to help turn this economy around. It takes profits to reinvest in growth and in turn creates new products, technology, opportunities and results in jobs and a stable and vibrant economy.

We have passed the tipping point in this country, where we have driven away manufacturing, oil exploration, technology development, and now corporate inversions due to over-zealous regulations and taxation. We are our own worst enemy, stifling and smothering all the great attributes the U.S. thrived on for so many years.

When the Capital system works well and our corporations and small businesses make good profits, then the American people have a better opportunity to do well. Granted there will always be people that either through lack of education, skills or other situations don't do as well. But the important point is that, if Companies do well, there is more opportunities for the American people to do well. In a poor economy like what we have now, there is far less opportunity for our citizens. That breeds frustration and unrest in our country and crime shows it's ugly head.
__________________
"I'm Outta Here ........ Gone Fishin or Bowlin"
  #40  
Old 08-28-2014, 12:30 PM
buggyone's Avatar
buggyone buggyone is offline
Sage
Join Date: Aug 2011
Posts: 5,358
Thanks: 0
Thanked 4 Times in 4 Posts
Default

Big US corporations have been doing very good. Very large profits, huge salaries for CEO's, and very tiny percentages of taxes paid.

Stock market is at record highs. Unemployment is down.

Multi-millionaires pay less percentage in income taxes than middle class citizens.
  #41  
Old 08-28-2014, 05:45 PM
Dr Winston O Boogie jr's Avatar
Dr Winston O Boogie jr Dr Winston O Boogie jr is offline
Sage
Join Date: May 2012
Posts: 7,940
Thanks: 1
Thanked 2,157 Times in 772 Posts
Default

Quote:
Originally Posted by buggyone View Post
Big US corporations have been doing very good. Very large profits, huge salaries for CEO's, and very tiny percentages of taxes paid.

Stock market is at record highs. Unemployment is down.

Multi-millionaires pay less percentage in income taxes than middle class citizens.
Who Pays Income Taxes and How Much?

Tax Year 2009

Percentiles Ranked by AGI

Percentage of Federal Personal Income Tax Paid

Top 1% pay 36.73%

Top 5% pay 58.66%

Top 10% pay 70.47%

Top 25% pay 87.30%

Top 50% pay 97.75 %

Bottom 50% pay 2.25%

Note: AGI is Adjusted Gross Income
Source: Internal Revenue Service

How much more would you have them pay?
__________________
The Beatlemaniacs of The Villages meet every Friday 10:00am at the O'Dell Recreation Center.

"I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800.
Closed Thread


You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 07:53 PM.