The REAL tax problem isn’t taxes per se, it’s how they’re allocated. And that’s on Congress. Increase the income taxes on corporations who do business in the US (to avoid companies moving their ‘home office’ to a tax haven) to the point where they’ll do the right thing in order to avoid the taxes. Under Eisenhower, they were around 90%… but business paid very little because they had very little profit. Which was because they were reinvesting their income, thus avoiding much net income. Of course back then, CEOs made about 20 times as much as the average worker, instead of the 300 to 400 multiplier that’s now too common.
Yes! Simplify the tax code! Close all the loopholes, deductions, exemptions, exclusions, shelters, corporate welfare, Cayman Islands tax havens or just eliminating the special lower tax rate on investment gains that the few wealthiest elites and ginormous corporations have had written into the tax code by their own accountants and lobbyists, for their own personal benefit so that they can pay less in taxes (and in many cases nothing at all).
The ones who call for tax simplification (usually meaning to disallow tax credits or reduced rates on the lowest income brackets or terminate middle-class exemptions) never mean to close the loopholes, deductions, exemptions, exclusions, shelters, corporate welfare, Cayman Islands tax havens or just eliminating the special lower tax rate on investment gains that benefit themselves.
And yet, virtually the entirety of tax complexity — the reason the tax code fills so many volumes — is to spell out all the ways that ginormous corporations and the few richest elites at the top can avoid taxes.
Well off people can deduct mortgage interest from their taxes and renters can’t, even though their rent pays the mortgage in most cases. Give more to those who already have and take away from those who don’t have! Seems to be the aim of our Government.
Taxes are a penalty we have to pay as the result of being citizens (subjects) of Leviathan. The government doesn’t need our money when it prints whatever it wants whenever it likes.
One yeat after the legislation passed giving the IRS $80 billion to hire 87,000 new agents, the Treasury Inspector General for Tax Administration wrote:
“As of last summer, 63% of new audits targeted taxpayers with income of less than $200,000,” reports the Wall Street Journal. “Only a small overall share reached the very highest earners, while 80% of audits covered filers earning less than $1 million.”
Prior to the passing of said legislation, Treasury Sec. Yellen wrote:
“Contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,”
Raise your hand if you knew then that she was lying.
One of the statistics that MAGAts don’t acknowledge is that back when America was Great Again, businesses paid about one half of total income tax revenue.
Since Reagan and Trickle Down, the percentage paid be businesses has been steadily eroding, so that it is down to about one third. Of course, they cannot discern who makes up the difference.
And, they actually believe that that reduction in business taxes benefits them personally.
One of the best things that could be done is to reduce the corporate tax rates to less than 15%, the are at 21% currently. What this would do is cause major companies to relocate the United States. It would bring their money in which they would than paid taxes on plus all the workers they would hire would also pay taxes on their wages. There are a lot of companies the purposely have independent HQ outside of the US so the “pay your fair share” democraps can’t get at it. Apple is just one example. The resulting tax revenue would be huge, Do you know that the United States is the only country in the world that tries to tax oversea companies. An example McDonald’s. You have an independently owned McDonald’s franchise in the EU somewhere. Even though you outright own the restaurants the IRS is going to try to tax you because the franchise you own is headquartered in the US. The best thing about this is the EU would have a. conniption fit when European companies start moving to the USA.
XF8U-3 about 1 month ago
Hire more agents – punish the rich who dodge taxes.
Concretionist about 1 month ago
The REAL tax problem isn’t taxes per se, it’s how they’re allocated. And that’s on Congress. Increase the income taxes on corporations who do business in the US (to avoid companies moving their ‘home office’ to a tax haven) to the point where they’ll do the right thing in order to avoid the taxes. Under Eisenhower, they were around 90%… but business paid very little because they had very little profit. Which was because they were reinvesting their income, thus avoiding much net income. Of course back then, CEOs made about 20 times as much as the average worker, instead of the 300 to 400 multiplier that’s now too common.
DD Wiz Premium Member about 1 month ago
Yes! Simplify the tax code! Close all the loopholes, deductions, exemptions, exclusions, shelters, corporate welfare, Cayman Islands tax havens or just eliminating the special lower tax rate on investment gains that the few wealthiest elites and ginormous corporations have had written into the tax code by their own accountants and lobbyists, for their own personal benefit so that they can pay less in taxes (and in many cases nothing at all).
The ones who call for tax simplification (usually meaning to disallow tax credits or reduced rates on the lowest income brackets or terminate middle-class exemptions) never mean to close the loopholes, deductions, exemptions, exclusions, shelters, corporate welfare, Cayman Islands tax havens or just eliminating the special lower tax rate on investment gains that benefit themselves.
And yet, virtually the entirety of tax complexity — the reason the tax code fills so many volumes — is to spell out all the ways that ginormous corporations and the few richest elites at the top can avoid taxes.
knutdl about 1 month ago
Should five percent appear too small
Be thankful I don’t take it all
(The Beatles)
Quoting song lyrics? OMG!
Flashaaway about 1 month ago
The above just shows how really stupid he is.
Al Fresco about 1 month ago
I’ll vote for that. But don’t make me pay for it.
braindead Premium Member about 1 month ago
MAGAts actually believe that favorable tax treatments for the rich and for patriotic multinational corporations benefit them personally.
And Their Messiah is a Genius (and very, very stable) for granting those favorable tax treatments.
baroden Premium Member about 1 month ago
OR, we could fund it so it could actually do its job: prosecuting citizens who refuse to pay their fair share of taxes.
Direwolf about 1 month ago
This is probably meant to be snarky but I can’t disagree with the idea.
davidthoms1 about 1 month ago
Well off people can deduct mortgage interest from their taxes and renters can’t, even though their rent pays the mortgage in most cases. Give more to those who already have and take away from those who don’t have! Seems to be the aim of our Government.
Durak Premium Member about 1 month ago
Obama was right. You didn’t do it on your own.
BubbleTape Premium Member about 1 month ago
tax the rich and properly fund the IRS so they have the resources to audit the rich.
FredBurr about 1 month ago
Taxes are a penalty we have to pay as the result of being citizens (subjects) of Leviathan. The government doesn’t need our money when it prints whatever it wants whenever it likes.
zerotvus about 1 month ago
Herman Caine had a good idea 9-9-9%
Grace L. Ferguson Border Patrol and Screen Doors about 1 month ago
One yeat after the legislation passed giving the IRS $80 billion to hire 87,000 new agents, the Treasury Inspector General for Tax Administration wrote:
“As of last summer, 63% of new audits targeted taxpayers with income of less than $200,000,” reports the Wall Street Journal. “Only a small overall share reached the very highest earners, while 80% of audits covered filers earning less than $1 million.”
Prior to the passing of said legislation, Treasury Sec. Yellen wrote:
“Contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,”
Raise your hand if you knew then that she was lying.
cfkelley about 1 month ago
10 percent FLAT TAX!!!
piper_gilbert about 1 month ago
Stop zillionaires from buying legislators and legislation protecting their wealth.
Radish the wordsmith about 1 month ago
Tax rich people, stop giving them tax breaks the middle class has to pay for.
john.horvath about 1 month ago
Freedom isn’t free. Be proud to pay your fair share.
Walter Kocker Premium Member about 1 month ago
“Freedom isn’t free. Be proud to pay your fair share.”
I do – and it’s a hell of a lot more than $750.
braindead Premium Member about 1 month ago
One of the statistics that MAGAts don’t acknowledge is that back when America was Great Again, businesses paid about one half of total income tax revenue.
Since Reagan and Trickle Down, the percentage paid be businesses has been steadily eroding, so that it is down to about one third. Of course, they cannot discern who makes up the difference.
And, they actually believe that that reduction in business taxes benefits them personally.
calliarcale about 1 month ago
That’s actually a very good idea! Some countries with very simple tax codes have done precisely that, combining the two into one simple mailing!
flpmlp about 1 month ago
Two words……………Flat. Tax.
Wonder-Wart-Hog about 1 month ago
One of the best things that could be done is to reduce the corporate tax rates to less than 15%, the are at 21% currently. What this would do is cause major companies to relocate the United States. It would bring their money in which they would than paid taxes on plus all the workers they would hire would also pay taxes on their wages. There are a lot of companies the purposely have independent HQ outside of the US so the “pay your fair share” democraps can’t get at it. Apple is just one example. The resulting tax revenue would be huge, Do you know that the United States is the only country in the world that tries to tax oversea companies. An example McDonald’s. You have an independently owned McDonald’s franchise in the EU somewhere. Even though you outright own the restaurants the IRS is going to try to tax you because the franchise you own is headquartered in the US. The best thing about this is the EU would have a. conniption fit when European companies start moving to the USA.