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TheMorlock
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Originally Posted by 5ive View Post
Not letting people who don't pay taxes have a say in where those taxes should go is classist, anti-democratic, and straight up terrible. You know what happens when the underclass gets angry?

they buy another 40 of Colt 45?
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Old 04-13-2012, 05:23 PM TheMorlock is offline  
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pyramid
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remitted $6.3 billion in sales taxes
That should not be counted as part of their tax burden. That's not money they actually pay out of their pockets. That's the sales tax which you and I paid on gas which they collect and then hand over to the government.

The GE thing is complicated but I understand "tax benefit" to be an amount the government will basically let you write off as though you paid that amount but they aren't going to refund any of that to you, you can just use it to offset what you do owe.

I'm actually for lowering the corporate rate to 20% if we do away with the ridiculous loopholes, write-offs, benefits, shelters and other methods of not paying. I'm also for a further 1% reduction in that corporate rate for every 10% of the company that is based in the US which would make a 100% US based company have a base corporate tax rate of 10%.
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Old 04-13-2012, 05:38 PM pyramid is offline  
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Look, here it is. Tax is a global economic control. Increased taxes means a decrease in economic activity. Increased taxes are also intended as a decrease in inflation, since that means there is less currency in circulation in the private sector. However, this is broken due to the way banks are lending money. It's not the "loose" standards. It's not the CDO that's the main problem. It's fractional reserve lending. I could almost guarantee you that if we all went to the bank to withdraw all of our assets, they couldn't cover all of their deposits. We need to do a massive overhaul of the banking system. That would help with most of the problems we have. Once we get that under control, we can get back to managing inflation and the size of the economy by taxation. After that, we really need to lower taxes and increase trade tariffs (Fuck you, NAFTA, and every other trade agreement we've ever had. That's the real reason we're fucked.) so we can grow the national economy and get everyone a job.
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Old 04-13-2012, 06:12 PM Jack's raging erection is offline  
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By that measure, Pyramid is also entitled to join the discussion, since he undoubtedly pays (part of) the gross receipts taxes that Exxon remitted.
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Old 04-13-2012, 06:15 PM Jehannum is offline  
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Look, here it is. Tax is a global economic control. Increased taxes means a decrease in economic activity. Increased taxes are also intended as a decrease in inflation, since that means there is less currency in circulation in the private sector. However, this is broken due to the way banks are lending money. It's not the "loose" standards. It's not the CDO that's the main problem. It's fractional reserve lending. I could almost guarantee you that if we all went to the bank to withdraw all of our assets, they couldn't cover all of their deposits. We need to do a massive overhaul of the banking system. That would help with most of the problems we have. Once we get that under control, we can get back to managing inflation and the size of the economy by taxation. After that, we really need to lower taxes and increase trade tariffs (Fuck you, NAFTA, and every other trade agreement we've ever had. That's the real reason we're fucked.) so we can grow the national economy and get everyone a job.

facepalm
Old 04-13-2012, 06:52 PM Gibonius is offline  
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facepalm

OK, school me on some economy.
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Old 04-13-2012, 06:56 PM Jack's raging erection is offline  
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Colicious
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Quote:
Originally Posted by pyramid View Post
That should not be counted as part of their tax burden. That's not money they actually pay out of their pockets. That's the sales tax which you and I paid on gas which they collect and then hand over to the government.

its been a minute since i read that article, and now im a few beers into my night. having said that, if it is what i think its sayig, that could be the same as deducting business related expenses you have had to pay out of your own pocket. for example: if you work on oil rigs, and you have to buy your own steel toe boots, thats a tax right off on your own taxes. why would a corporation be any different. right now they are (and have been) considered people

Quote:
The GE thing is complicated but I understand "tax benefit" to be an amount the government will basically let you write off as though you paid that amount but they aren't going to refund any of that to you, you can just use it to offset what you do owe.
from what little i know about taxes, yes thats generally what "tax benefit" means. its not actual money received.

Quote:
I'm actually for lowering the corporate rate to 20% if we do away with the ridiculous loopholes, write-offs, benefits, shelters and other methods of not paying. I'm also for a further 1% reduction in that corporate rate for every 10% of the company that is based in the US which would make a 100% US based company have a base corporate tax rate of 10%.
giving tax benefits to firms that stay more american wouldnt matter as long as labor is still cheaper, or skills are better else where. there would still be no benefit of keeping labor american if the quality is to your requirement and its cheaper than the tax benefit. cost benefit analysis
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Old 04-13-2012, 07:31 PM Colicious is offline  
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facepalm

Ok, next idea. We can print a shitload of money and devalue everything to the global market value, or we can eliminate price regulation and cause every. single. bubble. to burst at once. Taxation has nothing to do with this. It's a marginal problem at best.

I think where we really fucked up is when we increased minimum wage. This created demand for loans that shouldn't have been there, which caused the housing bubble, among other things. That's my story, and I'm sticking to it.

That being said, I think the minimum wage is a sin, especially considering how cheaply foreign labor can be bought. Minimum price of Chinese labor is what? $1/hr? American labor is $7.25/hr. That's a huge inflation of value. Since this is our base, if you will, that means we already had a massive inflation of value before we started quantitative easing. However, the QE was a much less severe option. It doesn't change how fucked we are, though.
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Old 04-14-2012, 01:33 AM Jack's raging erection is offline  
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Old 04-26-2012, 10:14 PM Jack's raging erection is offline  
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