Fair share??
May 13, 2021 18:22:29 #
Biden days that millionaires and billionaires skould pay their fare share. Here are some interesting numbers. There are about only 700 billionaires in the USA. And about 1/2 % of all americans earn over 1 million.What Biden does not understand is that millionaires and billionaires money is NOT income but other assets- stocks, bonds, real estate and other hard assets. The overwhelming number of millionaires have incomes of less than 5,00 grand-about 80%. And a fair nukjmber of "millionaires " earn under, some way under, 200 grand/ There is just not enough money from those millioinaires and billionaires to pay for his trillion $ programs. And corporations dont pay taxes, their customors do by paying more for their goods and services. So if those trillion $ proposals go throug raise your hands if you will pay more for everthing. Are your hands Up? Inflation is starting to happen. Many predict it will get worse if nothing is done to stop it. Thanks JOE
May 13, 2021 18:39:13 #
Wyantry
Loc: SW Colorado
boberic wrote:
Biden days that millionaires and billionaires skou... (show quote)
Agreed! The entire tax code is structured to allow those with money to invest in schemes and holdings that REDUCE their tax liability.
These “loopholes “were dreamed-up and instituted by the class of rich-folks in the senate and house — who have, coincidentally, declared themselves largely exempt from regulation and taxation.
Taxing the “rich” or “super-rich” or “d********gly filthy-rich” will not pay for Trillion$$ of dollars of spending — because the actual ‘taxable income’ of “the rich” is relatively low. It is not like some Billionaire (on paper) actually HAS billions of dollars/gold-silver/bonds just laying around. Everything is tied up in stock, bonds, debentures and is largely inaccessible.
May 13, 2021 18:39:40 #
boberic wrote:
Biden days that millionaires and billionaires skou... (show quote)
Well thought out response boberic !
May 13, 2021 19:06:00 #
May 14, 2021 08:31:54 #
MISLEADING: "And corporations dont (sic) pay taxes, their customors (sic) do by paying more for their goods and services."
If corporations have to pay the tax they owe, from audits or a tax hike, this outcome will increase the cost of doing business, meaning less profit.
Further, because of competition, corporations could increase the price of goods or services only so much, if at all.
Corporations do pay taxes (or owe taxes) as a matter of doing business.
If corporations have to pay the tax they owe, from audits or a tax hike, this outcome will increase the cost of doing business, meaning less profit.
Further, because of competition, corporations could increase the price of goods or services only so much, if at all.
Corporations do pay taxes (or owe taxes) as a matter of doing business.
boberic wrote:
Biden days that millionaires and billionaires skou... (show quote)
May 14, 2021 09:10:18 #
anotherview wrote:
MISLEADING: "And corporations dont (sic) pay taxes, their customors (sic) do by paying more for their goods and services."
If corporations have to pay the tax they owe, from audits or a tax hike, this outcome will increase the cost of doing business, meaning less profit.
Further, because of competition, corporations could increase the price of goods or services only so much, if at all.
Corporations do pay taxes (or owe taxes) as a matter of doing business.
If corporations have to pay the tax they owe, from audits or a tax hike, this outcome will increase the cost of doing business, meaning less profit.
Further, because of competition, corporations could increase the price of goods or services only so much, if at all.
Corporations do pay taxes (or owe taxes) as a matter of doing business.
And, get in trouble if they don’t pay what is owed.
May 14, 2021 10:11:42 #
boberic wrote:
Biden days that millionaires and billionaires skou... (show quote)
Biden probably does understand this or at least his handlers have tried to explain it to him. He's simply hoping that the ignorant masses on the left will continue to ignore reality and support the nonsense he is promoting.May 14, 2021 10:45:05 #
trainspotter
Loc: Oregon
boberic wrote:
Biden days that millionaires and billionaires skou... (show quote)
May 14, 2021 11:19:14 #
boberic wrote:
Biden days that millionaires and billionaires skou... (show quote)
Yes, accurately stated. And don't forget Biden's claim that 'no one making more than $400K will see his taxes rise'. What he is talking about is only 'income taxes'. Americans pay far more in Indirect taxes such as on gasoline, home heating oil, food, goods and services, everything imported and exported, and you can consider Inflation the biggest indirect tax of all. All, this in addition to city, state, and local taxes going up to pay for increased Federal mandates for social programs and 'infrastructure'.
May 14, 2021 11:22:49 #
Bazbo
Loc: Lisboa, Portugal
boberic wrote:
Biden days that millionaires and billionaires skou... (show quote)
"Fair share" is an unfortunate turn of phrase. "Fair" has nothing to do with it.
A better frame of reference would be "self interest". Who has more to lose if society unravels? The rich or the poor? Let history be your guide. Let them eat cake.
Only people with nothing to lose make good revolutionaries.
May 14, 2021 11:33:35 #
Bazbo wrote:
"Fair share" is an unfortunate turn of phrase. "Fair" has nothing to do with it.
A better frame of reference would be "self interest". Who has more to lose if society unravels? The rich or the poor? Let history be your guide. Let them eat cake.
Only people with nothing to lose make good revolutionaries.
A better frame of reference would be "self interest". Who has more to lose if society unravels? The rich or the poor? Let history be your guide. Let them eat cake.
Only people with nothing to lose make good revolutionaries.
Biden is 'Hugo Chavezing' our economy. We are in trouble.
May 14, 2021 12:34:40 #
Alafoto
Loc: Montgomery, AL
anotherview wrote:
MISLEADING: "And corporations dont (sic) pay taxes, their customors (sic) do by paying more for their goods and services."
If corporations have to pay the tax they owe, from audits or a tax hike, this outcome will increase the cost of doing business, meaning less profit.
Further, because of competition, corporations could increase the price of goods or services only so much, if at all.
Corporations do pay taxes (or owe taxes) as a matter of doing business.
If corporations have to pay the tax they owe, from audits or a tax hike, this outcome will increase the cost of doing business, meaning less profit.
Further, because of competition, corporations could increase the price of goods or services only so much, if at all.
Corporations do pay taxes (or owe taxes) as a matter of doing business.
"Corporations do pay taxes (or owe taxes) as a matter of doing business."
It's very hard to spend money owed.
May 14, 2021 13:22:05 #
Alafoto wrote:
"Corporations do pay taxes (or owe taxes) as a matter of doing business."
It's very hard to spend money owed.
It's very hard to spend money owed.
Corporations are not in business to produce a product that is merely a good idea or one that will benefit society. The primary purpose of Corporations is to make substantial profit for their shareholders. If you doubt this you don't understand economics and don't know what happens in a shareholders meeting.
If you overtax Corporations they will resort to one or several of these things,
Pass the taxes on to the consumer in higher prices for their goods and services, downsize and cheapen their products and offerings, automate and robotize their labor force, layoff workers, lower wages, and curtail future hiring, cut back on research and expansion, move off-shore to another country. And finally, since the power to tax is the power to destroy, Go out of business.
Now, which one of these results is most preferable to you?
May 14, 2021 15:29:28 #
Alafoto
Loc: Montgomery, AL
Although I appreciate the lecture in Econ 101, I think you missed my implication. I am not enough of an economist to have a valid opinion as to what a reasonable corporate rate should be, so I'm not advocating higher taxes. What I was stating in an admittedly rather offhand way was that taxes owed and not paid, should be collected forthwith. Although money owed the treasury can go on the asset side of the balance sheet, it cannot be spent until collected.
Having said that, I realize that we (the U.S.) will still be operating in a deficit for years to come and the present administration is rapidly increasing that deficit with their out of control spending habits, as is customary with a Democratic admisistration.
Having said that, I realize that we (the U.S.) will still be operating in a deficit for years to come and the present administration is rapidly increasing that deficit with their out of control spending habits, as is customary with a Democratic admisistration.
May 14, 2021 18:19:10 #
anotherview wrote:
MISLEADING: "And corporations dont (sic) pay taxes, their customors (sic) do by paying more for their goods and services."
If corporations have to pay the tax they owe, from audits or a tax hike, this outcome will increase the cost of doing business, meaning less profit.
Further, because of competition, corporations could increase the price of goods or services only so much, if at all.
Corporations do pay taxes (or owe taxes) as a matter of doing business.
If corporations have to pay the tax they owe, from audits or a tax hike, this outcome will increase the cost of doing business, meaning less profit.
Further, because of competition, corporations could increase the price of goods or services only so much, if at all.
Corporations do pay taxes (or owe taxes) as a matter of doing business.
Corporations are just another branch of tax collectors for the government to tax citizens.
You pay taxes on what you buy. Think of how many times that item you buy has been taxed and added to the price through hidden taxes.
Gasoline for example:
"The gasoline tax is an excise tax, which is a cost added to the purchase of specific goods and services. The federal government charges a tax of 18.4 cents on every gallon of gasoline and 24.4 cents on every gallon of diesel.Dec 24, 2020"
"Pennsylvania. Topping the list of states with the highest gas taxes is Pennsylvania at 77.10 cents per gallon, according to the numbers by the American Institute of Petroleum. ..."
Then all the other hidden taxes of the station, distribution, refining, pumping, drilling etc.
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