In fact, it is NOT tax rates on corporations that have them move overseas, it is the fake, fraudulent and failed "free" trade agreements.
We need to ban all corporate lobbyists, overturn Citizens United and take all corporate executives out of positions of power where they can influence government. The private sector is a failure and a disaster for America plain and simple.
GENTZER0 replies: "We have one of the, if not THE, highest corporate tax rate in the world."
------------------------
Please, by all means, name us just one large corporation that pays 35%.
Just one!
Fact is, nobody has said anything about increasing corporate taxes, and obviously, since they are at RECORD LOWS giving us only 9% of our federal revenue today, we do indeed need to eliminate corporate loopholes in the tax code since they have been paying little or no taxes recently!
Biggest Public Firms Paid Little U.S. Tax, Study Says
Still waiting ZER0 -- and while you're at it, please also give us the name of just one of the wealthiest Americans in the top marginal 35% tax rate, that pays 35%.
Actually, the wealthiest 400 billionaires on the Forbes 400, pay an average of 17% in income tax.
TIREDPAT says: "C'mon, let's wait 11 days and the CLIFF hits!....See if that reduces the massive federal spending by ONE DOLLAR."
------------------------
Polly wanna cracker? Nice "dittohead speak"!
The "fiscal cliff" will indeed reduce federal spending by $1.2 Trillion, since this was the deal that our congresscritters passed with The Budget Control Act of 2011.
Since the Super Committee failed to reach an agreement, the bill created a trigger mechanism to implement drastic across-the-board spending reductions known as sequestration. Sequestration should reduce spending across the board, affecting all departments and programs by an equal percentage.
Nice try pat, but you must be too tired to realize the truth of the situation, that $1.2 Trillion in federal spending cuts in indeed more than ONE DOLLAR! LOL!
TROUTFISHIN replies: "When the very wealthy don't pay their share, then the burden falls on others. I don't think 'impoverish' is the right word, although the working class certainly has less money at the end of the day."
--------------------------
Yes, call it what you will, but continuously halving the top marginal rate over 20 years from 70% in 1981, to 35% in 2001, has only decreased federal revenue to RECORD LOW levels, and adding to that are RECORD LOW corporate tax rates and the uber-wealthy paying even less than the 15% capital gains rate in taxes.
Less federal revenue -- down to less than 15% of GDP when the post-WWII average is 18.5% of GDP -- only puts more of the burden on the middle class and gives us nothing but endless RED INK and ever-larger budget deficits!
GENTZER0 replies: "It's not the rate. It's the loopholes."
-------------------
LOL! Been hearing that political rhetoric for entirely too long now, with the last one being the screeching from romney for over a year now, without ONE LOOPHOLE or even ONE DEDUCTION being named!
The American people have come to realize you are only spewing "political speak" and until you and your ilk can give us DETAILS or SPECIFICS on this B.S., it's dead in the water! Try again!
When the very wealthy don't pay their share, then the burden falls on others. I don't think "impoverish" is the right word, although the working class certainly has less money at the end of the day.
----------------------------------------------
How about we put the entire budget on the table and cut as much spending as we possibly can. At that point we won't need to raise taxes.
LOL! As if that would ever work, even for republicans, since they are now whining and crying about $500 Billion in cuts to the bloated military-industrial complex over 10 years, or only $50 Billion per year, when we are currently spending $1.3+ Trillion per year on national security?
You far-right extremists just fail to understand the economics of the entire situation, since all PhD economists and Bowles-Simpson see the absolute need for increasing revenue from 15% of GDP!
Can they help their passion and stop wasting time and money, and think what is realistic? What is the purpose of this vote at all, for God sake? Stop wasting our money for your aborted session, please, and our time as well. You have money for throwing it over the fiscal cliff. The majority doesn't have this luxury. You are loosing touch Mr. Boehner and your friend in the House.
BOB wants to continue to impoverish the American working class so the rich won't have to pay their fair share of taxes. ---------------------------------------------
So exactly how does someone paying less tax impoverish anyone?
Taxpayers with Adjusted Gross Incomes of $500,000 would save about $7,500 under Boehner's "Plan B" vs. Obama's original plan (restoring the Clinton tax rates for those with AGIs above $200,000/$250,000). That's 1.5% of their AGI, and probably less than 1% of their gross income, since the AGI subtracts all deductions and exemptions from gross income. Is saving those folks $7,500 REALLY worth all this angst and hysteria?
HEY! How about Congress taking a 40% cut. That means they only get $104,000 per year and we save 37 million each year. Getting rid of their retirement and use Social Security like the rest of us. Incentive to fix it and stop borrowing from it. And losing their monetary subsidies for their health care. Incentive to really fix the problem. WHY?? Because they created this financial mess in the first place and now they whine about fixing it.
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We need to ban all corporate lobbyists, overturn Citizens United and take all corporate executives out of positions of power where they can influence government. The private sector is a failure and a disaster for America plain and simple.
------------------------
Please, by all means, name us just one large corporation that pays 35%.
Just one!
Fact is, nobody has said anything about increasing corporate taxes, and obviously, since they are at RECORD LOWS giving us only 9% of our federal revenue today, we do indeed need to eliminate corporate loopholes in the tax code since they have been paying little or no taxes recently!
Biggest Public Firms Paid Little U.S. Tax, Study Says
http://www.nytimes.com/2011/11/03/business/280-big-public-firms-paid-little-us-tax-study-finds.html?_r=0
--------------
Thirty large and profitable U.S. corporations paid no U.S. income tax 2008-2010: report
http://www.reuters.com/article/2011/11/03/us-usa-tax-corporate-idUSTRE7A261C20111103
Actually, the wealthiest 400 billionaires on the Forbes 400, pay an average of 17% in income tax.
------------------------
Polly wanna cracker? Nice "dittohead speak"!
The "fiscal cliff" will indeed reduce federal spending by $1.2 Trillion, since this was the deal that our congresscritters passed with The Budget Control Act of 2011.
Since the Super Committee failed to reach an agreement, the bill created a trigger mechanism to implement drastic across-the-board spending reductions known as sequestration. Sequestration should reduce spending across the board, affecting all departments and programs by an equal percentage.
--------------------------
Yes, call it what you will, but continuously halving the top marginal rate over 20 years from 70% in 1981, to 35% in 2001, has only decreased federal revenue to RECORD LOW levels, and adding to that are RECORD LOW corporate tax rates and the uber-wealthy paying even less than the 15% capital gains rate in taxes.
Less federal revenue -- down to less than 15% of GDP when the post-WWII average is 18.5% of GDP -- only puts more of the burden on the middle class and gives us nothing but endless RED INK and ever-larger budget deficits!
-------------------
LOL! Been hearing that political rhetoric for entirely too long now, with the last one being the screeching from romney for over a year now, without ONE LOOPHOLE or even ONE DEDUCTION being named!
The American people have come to realize you are only spewing "political speak" and until you and your ilk can give us DETAILS or SPECIFICS on this B.S., it's dead in the water! Try again!
When the very wealthy don't pay their share, then the burden falls on others. I don't think "impoverish" is the right word, although the working class certainly has less money at the end of the day.
----------------------------------------------
How about we put the entire budget on the table and cut as much spending as we possibly can. At that point we won't need to raise taxes.
You far-right extremists just fail to understand the economics of the entire situation, since all PhD economists and Bowles-Simpson see the absolute need for increasing revenue from 15% of GDP!
Stop wasting our money for your aborted session, please, and our time as well. You have money for throwing it over the fiscal cliff. The majority doesn't have this luxury. You are loosing touch Mr. Boehner and your friend in the House.
BOB wants to continue to impoverish the American working class so the rich won't have to pay their fair share of taxes.
---------------------------------------------
So exactly how does someone paying less tax impoverish anyone?