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US Tax Policy In One Chart: Rising Individual Income Taxes; Falling Corporate Income Taxes
Because those record offshore (tax-haven arbitraged) corporate cash balances will not grow themselves, obviously.
Watch the blue and green lines...
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No taxation without representation.
That's total bullshit. There isn't a person representing me, and yet I keep getting taxed.
Well if I remember correctly we did throw a revolution or something over that sort of thing. Hmmmm.....maybe I better look it up to be sure.
Nah, independent, freedom loving, patrriotic Americans have no interest in that sort of thing. They buy guns and put em in the closet. Then they buy more guns and hide em. Then they buy more guns and threaten to use them ROTFLMAO! Then the government buys up all the ammo and invents drones and heat seeking missles.................... such is life
Highest tax receipts in the history of the planet and the Liar-in-Chief still manages to spend 40% more than he takes in.
I'm no fan of the smoothie either, but you're full of shit if you wan't to pin the deficit on anything but THREE UNFUNDED WARS!! And then some! Can't blame the current bunch of assholes for this one I'm afraid.
Defense was 20% of the Federal budget in 2012, which means Obama could have spent zero on defense and still spent 20% more than he took in.
Since the Dems took over, the deficit has roughly doubled. That is on Obama, Pelosi and Reid.
I'm no fan of the smoothie either, but you're full of shit if you wan't to pin the deficit on anything but THREE UNFUNDED WARS!! And then some! Can't blame the current bunch of assholes for this one I'm afraid.
No taxation with representation.
http://www.opensecrets.org/lobby/
OOOOOOOOOh, now it makes sense.
The irony being that criminals are assigned public defenders that fight like hell for their rights although they are as guilty as hell while taxpayers get "assigned" to bad choice 1 or bad choice 2.
A monopoly is designed to benefit those operating it.
The monopoly that is government was not designed to benefit you or me.
To be fair, you and I are not operating it. And nor will we ever be alloed to.
People always said if you cut corporate taxes to 0, they would create shitloads of jobs. Well, multinationals don't pay taxes and they don't create new jobs. Can we try it the other way for awhile.....
They do create jobs, just not here. Multinational firms keep the cash abroad in order to avoid US taxes on it. They generally end up reinvesting that cash overseas as well, since it's better than letting is sit around earning zero. So they build a plant, acquire another business, etc. in other countries.
That's where the jobs end up. And of course the profits from those ventures end up overseas too, which perpetuates the problem since we insist on taxing foreign profits.
So, "people" saying that cutting corporate taxes to 0 would result in jobs have it pretty much right.
Yep, loads of new jobs in China and Mexico.
He means more jobs in the US. Cut corporate taxes to 0 and we will get more jobs. It makes no sense to tax a corporatation even a nickle because the share holders are already being taxed. Wait it minute, it does make sense (in the eyes of the government): double taxation.
Corporations aren't cashing out their 401K's and IRA's to pay for healthcare, food, and shelter.
BINGO !!! That and the fed printing the $80 billion each month !
Might as well spend it now while it still buys things that have value rather than watching it inflate away to nothing or you become one of the victims of a government grab. They really own anything you don't hold in your own hands, and they are only letting you have the use of your house and car as long as you continue to trade your sweat and labor to hold them. As for your money saved, the stuff that represents your sweat and labor, anything digital belongs to them and they can take it with the stroke of a key. They're only letting you imagine it is yours until they want it.
Crap.
Taxes? When you have the Bernank taxes are only needed to give the system and air of legitamacy.
According to the Supreme Court, Obamacare is a tax, something Obama denied until the court upheld it based on it being a tax. Now, of course, its a tax.
By doing so the supreme court actually caused a constitutional crisis since only congerss has the power to declare and levy taxes. But hey there's nothing left of that poor old piece of trash anyway.
Hence why Obamacare subsidies which are paid directly to the insurance company are being comically referred to as "tax credits". I prefer the term CORPORATE WELFARE.
The tax ramp started just after ACA was passed.
You're 100 years late on that estimate.
those corporates will get "bailed in" one day via their banks; when Merkel does it in EZ Obammy will follow in US and say : just keeping up with the Joneses.
Since no major changes have been made to corporate tax law that would reduce taxes paid -
Taxable income must be falling.
Falling income - bullish for stocks.
Corporate taxes are just filtered through to the end user so why bother, oh yeah so politicians can intervene in production as well...
from the looney left here, I actually support indvidual taxation and no taxation for corporations. The problem, IMHO, is not the taxation of corporations or the lack thereof, but the loopholes, grants, credits, cronyism, laws, lobbyists, rules and benefits, patent wars and more that allow corporations to gain an unfair advantage, maintain monopolies, or overcharge for services/products.
The end user is going to pay, one way or another. Take away all the benefits from corporations, don't provide incentives for offshoring, etc...............
"Take away all the benefits from corporations"...
I'll buy that as long as you also take away all the benefits from individuals & non-taxpayers - like food stamps, subsidized student loans, mortgage interest deductibility, masses of government employees, 999-week unemployment insurance, artificial interest rates, farm subsidies, "minimum wage" restrictions, union recognition laws and such...
"no taxation for corporations."
o.k. Im confused. If your not going to tax them why screw with the loopholes. And besides since the supreme court declared the individuals why should they be absolved from paying taxes?
becasue it's simple. All corporate costs from materials to labor to regs to taxes are all in the price we pay for their product.
In that case we are all corporate board members
Congratulations, pinhead, you have it exactly backwards.
Corporations are granted privileges that Actual Human Beings can never have-- limited liability AND perpetual life.
For those state-granted privileges that are EXCLUSIVE to corporations, they deserve to be richly taxed.
Human Beings, on the other hand, do NOT deserve to have their incomes taxed, as that directly contravenes the Fundamental Rights of Life, Liberty, and Property. You have NO liberty if your labor is taxed-- you are, by definition, a slave when some (or all) of your productive labor is forcibly taken from you.
Eloquent Bullshit, BB. Corporations don't pay taxes, they raise prices, cut pay, spend less on R& D and so on to scrape up the cash.
Because they are an organization and not an organism they deserve to be taxed richely. You made a fool of yourself.
And we always come back to the corporation being entitled to whatever the corporation wants. If Mattel wants $99 profit on every Matchbox car then God damn it every Matchbox car is going to cost $100 and if they don't get it now Now NOW Mommy Government will tax the difference out of us for the sake of the poor suffering corporation what didn't get its binky.
How come individual income tx receipts are rising when there are next-to-no jobs? And only paying peanuts? Must be oil, gas and natural resources income...
Tax rate on people earning over $250K was increased -
Been a while since I looked at the details - so I may be off a tad - but something like
Top rate went from 35% to 39% and possibly to 43.9? if it is dividends or capital gains.
Depending on income - the max rate on dividends was 15% - now it is 20%
Plus the payroll tax cut was allowed to expire.
...so in other words no new production or wealth is occurring, just more being vacuumed out of the real economy?
...and that is how wealth is redistributed.
How is one played off the other? We're unhappy if corp taxes might actually go down? Does anyone think corporate taxes are good? We pay all of those taxes. Corps don't.
Money goes to wasteful gov we could be earning.
Jobs go to countries that don't have the 94th worst rated corporate tax code on the planet. (as rated by a German firm)
All that money would come home, Tyler if our corp taxes weren't a mess. You should know better.
All our probelms are structural.
Changing my nationality to be Dual with Tonga, which of course is where all my income is generated.
Tax policy is more about political power than it is about revenue.
If - for example - we collect 10% of corporate income in federal taxes -
But get there from a 35% rate and a whole bunch of special rules and credits
If we just got rid if all the special shit and had a rate of 10% it would sure make things easier -
but the elected officials would lose the power to hand out special legislation - and kill the impact of lobbying (with campaign cash).
Same thing on the individual side - education credits, home mortgage deduction, energy credits, bla bla bla all adds up to politicians getting more cash.
Corporations don't pay taxes. They collect them.
Corporations don't eat, sleep or go to the bathroom either. Individuals do.
Higher taxes on any entity is a bad idea, at all times.
Falling corporate taxes? That must mean the economy's doing super, right? Right?
Wealth goes where it can be preserved and grown.
The more we increase taxes on the individual and corporation the more difficult it will be to attract and retain businesses and quality of life here in the good old US of A.
But since we're on the track "hope and change - forward to socialism" the fine folks in this nation will have to learn the hard way. As usual....
What's your reply? "This time it's different! Murrica! F yeah!" Well, good luck with that....
The good news is that's it's obvious what we got coming our way. No secrets about it here guys & gals.
Just keep on voting for your free s**t. Rather sooner than later all you get for free will be s**t.
I've had it up to here with these "I love America so much but I don't work or invest or live or otherwise contribute to absolutely anything at all there" sunshine pretend patriots. If everything's so fucking bad here, don't let the door hit your ass on the way out. China or another turd world country would be ideal, don't you think?
RKDS,
Let go of your anger man. Not healthy. And no, ObamaCare won't help you. I know that's a shock for you...
And just for the record, I do live, work, pay taxes, own property, etc here in the US. In fact I'd go so far to claim that I contribute significantly more to the US economy than you probably ever will.
Just continue to close your eyes or at the very least rush to voluntarily put blinders on yourself. Forward! Your comrades, currently in power, have programmed you well. I have to give them that much.
You seem to have no interest to preserve what the US of A stands for, albeit less and less unfortunately.
I'd rather keep and restore the US (along with our allies) and have the door you were talking about hit you "in the ass" on your way to wherever you get enough free s**t to attract you.
That won't be China however. At least some parts of it are more capitalistic than we are. Consider the 15% flat income tax in HKG for example.
Venezuela sounds like more up your alley. They even have a minisrty for happiness these days. COnsidering the anger level of your post you could make good use of their services! Good luck - you will need it. ;)
Aw, poor baby, was mommy government late with your certainty entitlement today? I doubt you can even read, so God only knows where you get off telling anybody about anything. Thumping the Constitution like coked up baboon doesn't do anybody any good if you don't understand it or what it stands for.
Sorry...
"Because those record offshore (tax-haven arbitraged) corporate cash balances will not grow themselves, obviously."
Short, funny and to the point.
Awesome Tyler!
Sacrifices must be made to preserve the lifestyles of our corporate overlords. We can all take solace in the fact we are working hard to create a world of beauty in Versailles. Rejoice as you are buried alive in Pharoah's tomb! For you are part of something much greater than your puny selves.
Pay your taxes and like it, bitches!
Cuz they're only going one way, and it ain't down ...
Welcome Comrade De Blasio!
What comes next though?
Take one capitalistic corporate head and stick it on the body of a socialist population. You might not like to admit is but it is the model for every western society. Healthcare, edcuation even the maniplation of the economy are all part of it and the money flows one way.
Next you get legislation so that you must buy a certain product.
Just get the feeling that this is already on the cards if nothing more than to justify the value of the markets.