If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Some Guy)   Why is the deficit so big? It could be because billion dollar companies are robbing the U.S. Treasury blind   (thenewyorkcrank.blogspot.com) divider line 240
    More: Obvious, Treasury Department, United States Public Debt, deficits, U.S.  
•       •       •

15186 clicks; posted to Main » on 22 Oct 2010 at 5:56 PM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



240 Comments   (+0 »)
   

Archived thread

First | « | 1 | 2 | 3 | 4 | 5 | » | Last | Show all
 
2010-10-22 05:14:24 PM
But we need to deregulate them because we might be rich tycoons of industry one day, too!
 
2010-10-22 05:31:44 PM
Taxes will always favor those who are able to afford the legal means to avoid paying your fair share. There's no way around this. There will always be tax loopholes. Tax loopholes have existed as long as there have been taxes, nothing is going to change that now.

Just admit that the deficit is big because we don't spend within our means. The first step to solving a problem is admitting it. Americans want too much and are willing to give too little. It's silly to say we don't have enough internal revenue, absolutely silly.
 
2010-10-22 05:39:22 PM
Big Man On Campus: Taxes will always favor those...

So the rich can just do whatever they want because, hey, they're rich. The rest of us should just do without because, hey, we're not rich. Is that how I should read that?
 
2010-10-22 05:43:26 PM
It's the recession and the Bush tax cuts, stupid.
 
2010-10-22 05:43:55 PM
Big Man On Campus: Taxes will always favor those who are able to afford the legal means to avoid paying your fair share. There's no way around this. There will always be tax loopholes. Tax loopholes have existed as long as there have been taxes, nothing is going to change that now.

Just admit that the deficit is big because we don't spend within our means. The first step to solving a problem is admitting it. Americans want too much and are willing to give too little. It's silly to say we don't have enough internal revenue, absolutely silly.


I love the smell of cowardly corporate apologists in the morning. It smells like...failure.
 
2010-10-22 05:48:53 PM
More taxes will solve everything
And the band played on...
 
2010-10-22 05:51:29 PM
DarkJohnson: More taxes will solve everything

It's not about more taxes, it's about paying the taxes that already exist.
 
2010-10-22 05:57:40 PM
Big Man On Campus: Taxes will always favor those who are able to afford the legal means to avoid paying your fair share. There's no way around this. There will always be tax loopholes. Tax loopholes have existed as long as there have been taxes, nothing is going to change that now.

Just admit that the deficit is big because we don't spend within our means. The first step to solving a problem is admitting it. Americans want too much and are willing to give too little. It's silly to say we don't have enough internal revenue, absolutely silly.


sort of like california but larger?
 
2010-10-22 06:00:33 PM
Oh good.

A blogger has an opinion that includes "full employment".
 
2010-10-22 06:01:01 PM
WhyteRaven74: It's not about more taxes, it's about paying the taxes that already exist.

That's just crazy talk!
 
2010-10-22 06:01:51 PM
I await thunderpipes with baited breath.
 
2010-10-22 06:02:59 PM
 
2010-10-22 06:03:43 PM
Big Man On Campus: Just admit that the deficit is big because we don't spend within our means.

Alright, I'll start. Lets stop giving money to Israel.
 
2010-10-22 06:04:09 PM
WhyteRaven74: DarkJohnson: More taxes will solve everything

It's not about more taxes, it's about paying the taxes that already exist.


They're not paying any taxes that they're legally required to pay. You have no point here.
 
2010-10-22 06:04:16 PM
meatofmystery: I await thunderpipes with baited breath.

i expect a linux rant yes to storm across the thread any second
 
2010-10-22 06:04:24 PM
Actually it's because socialism.
 
2010-10-22 06:05:00 PM
the smarter idea is to lower corporate tax rates significantly and raise capital gains taxes on individuals that have say $1.5 million in assets, then again at $3 million in assets, then again at $7 million. our corporate tax rates should be designed to encourage reinvestment of capital and the creation of jobs in the united states, not as way to fund the government. use capital gains to retrieve capital that the government spent developing an atmosphere where these companies could thrive. the government will get it's money back from increased workforce participation, increased cap gains tax revenues.
 
2010-10-22 06:05:01 PM
Capitalist1: WhyteRaven74: DarkJohnson: More taxes will solve everything

It's not about more taxes, it's about paying the taxes that already exist.

They're not paying any taxes that they're legally required to pay. You have no point here.


They're not *failing to pay* any taxes.. etc.

// do not post during low blood sugar
 
2010-10-22 06:05:22 PM
Corporations don't pay taxes. Their customers do.
 
2010-10-22 06:05:28 PM
There's no Corporate Larceny like Liberal Corporate Larceny.
 
2010-10-22 06:06:03 PM
They wouldn't have to rob so much if they could just get a tax cut. If we would give them a tax cut, they'd finally have enough money. To invest and create jobs, to make more money. But without the tax cut they don't have enough money to create jobs so they can't make more, so they have to rob. See?
 
2010-10-22 06:06:20 PM
Corporate taxation is double taxation. Employees already pay income taxes.
 
2010-10-22 06:06:58 PM
FTA: One of the reasons you and I and other ordinary American citizens are taxed so much...

I wonder how different this country would be if the majority of its citizens actually knew that, when compared to the rest of the developed world, our personal income tax rates are pretty low? At the very least we wouldn't have to keep reading ridiculously stupid statements like that one from the article.

/Note I said personal income tax rates. I'm well aware that tax rates for business tend to be much higher.
//I realize I shouldn't have to qualify that, but if I don't someone will pop in here with a graph of US business tax rates and start with the "But...but...but....TAXES!!" wargarbl.
 
2010-10-22 06:07:00 PM
Is it because they spend $200 on a hammer and toilet seat?
/Welcome to erf...
 
2010-10-22 06:07:08 PM
SurlyCurmudgeon: Corporations don't pay taxes. Their customers do.

This might be true if they are selling water, but if they are selling a luxury, such as premium cable TV, gold watches, etc., they are probably already selling these items at the maximum price that the market will allow. Therefore the only place that taxes can eat into is the profit margins. This means less money for the CEO.

If you jack up the price of gold watches in response to taxes, people will just stop wearing them.
 
2010-10-22 06:07:50 PM
Wait, smart people have figured out loopholes to an incredibly arcane, over-engineered, obnoxious tax code? I'm shocked! Shocked!

Maybe instead of saying corporations are robbing us, we should actually try to build a simple tax code that isn't an invitation to game the system. Any corporation would be stupid to NOT find ways to avoid taxes.
 
2010-10-22 06:07:59 PM
The entire tax system is set up for the benefit the wealthy who have influence over government.

Taxing corporations and closing how they avoid taxes is not going to achieve anything. The wealthy insiders that own much of the giant corporations will just use this chance at reform to further crush new/small(er) businesses and tax the people more. If taxation of corporations is really achieved they'll just move off shore while retaining the laws and regulations that give them the upper hand in the USA.

The way out is to get rid of the social engineering tax code and all the meddling and interferences that come from the federal government. Restore the free market and stop burdening the american people with paying for an empire and every special interest that can buy off enough congress critters. Lose the idea that the purpose of government is to take from some and give to others. Then and only then will things start to change.

The problem with a welfare state is that the most wealthy and with the most influence will always get the most out of it.
 
2010-10-22 06:08:00 PM
I just wanted everybody to know that I just finished 2 McRibs

/Mmmmm
 
2010-10-22 06:08:55 PM
WhyteRaven74: It's not about more taxes, it's about paying the taxes that already exist*.

Are they breaking the law(actually asking)?

If Yes: FUUUUUUUUU
If No: They are.*
 
2010-10-22 06:08:57 PM
SurlyCurmudgeon: Corporations don't pay taxes. Their customers do.

Or their shareholders. Or a little bit of both.
 
2010-10-22 06:09:02 PM
WhyteRaven74: It's not about more taxes, it's about paying the taxes that already exist.

Its about collecting taxes LEGALLY. Citizens defraud the treasury significantly more than the international corporations who work within the current laws.

Just because some blog says they're 'ripping off' America doesn't make it true.

When times get tough, so too do the moochers.
 
2010-10-22 06:09:28 PM
leadmetal: The problem with a welfare statecivilization is that the most wealthy and with the most influence will always get the most out of it.

FTFY
 
2010-10-22 06:09:32 PM
The only thing I disagree with in TFA:

The smarter solution would be to cut the tax loopholes that let the big corporate thieves get away with this stuff. But Republicans in Congress won't let it happen. If you want to get mad as hell at something, get mad as hell at that.

Both
parties are corporate whores. Outside of a handful of noble exceptions, Democrats are NOT out to represent the best interests of their constituents. They only care about the wealthy. This includes our "socialist" President, who loves to talk about progressive issues while selling out to the corporations, then shrugging and saying "Oh well, guys. We tried."
 
2010-10-22 06:10:27 PM
 
2010-10-22 06:10:41 PM
6thFairway: Wait, smart people have figured out loopholes to an incredibly arcane, over-engineered, obnoxious tax code? I'm shocked! Shocked!

Maybe instead of saying corporations are robbing us, we should actually try to build a simple tax code that isn't an invitation to game the system. Any corporation would be stupid to NOT find ways to avoid taxes.


The problem is that some of the complexities are good. We want corporations to legitimately receive tax write-offs if they donate functional equipment to schools, for example.
 
2010-10-22 06:10:46 PM
STOP FEEDING THE DEFICIT AFTER MIDNIGHT

IT'S IN THE RULES
 
2010-10-22 06:11:02 PM
Is this one of those threads where people have to keep saying that when someone does not pay taxes, that doesn't mean they were given that money by the government?
 
2010-10-22 06:11:05 PM
s2s2s2: WhyteRaven74: It's not about more taxes, it's about paying the taxes that already exist*.

Are they breaking the law(actually asking)?

If Yes: FUUUUUUUUU
If No: They are.*


No, they aren't breaking the law. They are merely using stupid accounting tricks to pay as little taxes as possible. Since they are in the business of making money, this is kind of expected and even required (if they didn't, their shareholders could sue, for instance).
 
2010-10-22 06:12:26 PM
Why is the deficit so big?

media.syracuse.com

'cause the Rent is TOO DAMN HIGH
 
2010-10-22 06:12:30 PM
In my opinion, any politician that's serious about balancing the budget, should grow some balls and talk about the defence budget. Cold war is over and stealth bombers do little against insurgents.

With half of what it costs to buy a stealth bomber, we can get all the warlords and mullahs in the middle east on US pay roll and get further in our war against terror than any 1.2 billion dollar stealth bomber would ever get us.

Unless we're planing to invade China, the defence budget can be cut significantly.
 
2010-10-22 06:12:41 PM
Corporate taxes are illusory in nature. All taxes are paid by individuals, whether they be consumers or shareholders. The Fair Tax(www.fairtax.org) replacing our current tax structure would go a long way in eliminating loopholes.
 
2010-10-22 06:12:54 PM
NotaBunny:

Wait, the McRib is back at McDonalds?! *rushes out the door*
 
2010-10-22 06:13:09 PM
I would have thought *robbing* might mean the billions of subsidies, not having some non-taxable income. Technically neither is robbing though, since they're both entirely legal. Tax evasion, not avoidance (I say avoison) is literal robbing
 
2010-10-22 06:13:15 PM
Britney Spear's Speculum: Big Man On Campus: Just admit that the deficit is big because we don't spend within our means.

Alright, I'll start. Lets stop giving money to Israel.


Paging Tatsuma...

As an aside, I agree.

Further, I think that what we really need is a FLAT income tax rate. Maybe like 10% or something (I'm not basing my numbers on fact here obviously, just an example), and force the government to make do with the taxes raised from that and business income taxes, for the most part. But of course they'd be screwing themselves out of a lot of money, so the government would never downsize itself or

I'm babbling...
 
2010-10-22 06:13:28 PM
6thFairway: Wait, smart people have figured out loopholes to an incredibly arcane, over-engineered, obnoxious tax code? I'm shocked! Shocked!

Maybe instead of saying corporations are robbing us, we should actually try to build a simple tax code that isn't an invitation to game the system. Any corporation would be stupid to NOT find ways to avoid taxes.


This.

Did Rangle ever learn how to read the tax code so he could simplify it for us? How did he get that chairmanship, anyway?
 
2010-10-22 06:13:45 PM
Tommy Moo: . We want corporations to legitimately receive tax write-offs if they donate functional equipment to schools, for example.



We do? I don't remember wanting that, but if you say I do, then I guess I do.
 
2010-10-22 06:13:53 PM
Tommy Moo: Both parties are corporate whores. Outside of a handful of noble exceptions, Democrats are NOT out to represent the best interests of their constituents. They only care about the wealthy. This includes our "socialist" President, who loves to talk about progressive issues while selling out to the corporations, then shrugging and saying "Oh well, guys. We tried."

Exactly. Obama is not a socialist (he wouldn't even push for single-payer health care). Nor is he progressive (just look at how he's handled DADT).
 
2010-10-22 06:13:56 PM
Britney Spear's Speculum: Big Man On Campus: Just admit that the deficit is big because we don't spend within our means.

Alright, I'll start. Lets stop giving money to Israel.


Great, you saved $5 billion. Only $995 billion to go. 1/200th of the way there.

\If you want to balance the budget, you have to cut defense, social security, and medicare. There isn't enough money anywhere else to make a dent.
 
2010-10-22 06:14:20 PM
Tommy Moo: SurlyCurmudgeon: Corporations don't pay taxes. Their customers do.

This might be true if they are selling water, but if they are selling a luxury, such as premium cable TV, gold watches, etc., they are probably already selling these items at the maximum price that the market will allow. Therefore the only place that taxes can eat into is the profit margins. This means less money for the CEO.

If you jack up the price of gold watches in response to taxes, people will just stop wearing them.


If you don't think taxes aren't figured into prices, then you are sadly mistaken.

Also taxing profit that the corporation will automatically reduce the profit, no matter the margin. Ideally, if the government would actually tax on profit point margin (As to how much the thing is actually worth, than what the biggest price people will pay for it) then prices would actually come down to a more reasonable level.
 
2010-10-22 06:15:11 PM
Claiming every cent of tax deductions = lost revenue is equivalent to claiming every pirated song = lost revenue.
 
Displayed 50 of 240 comments

First | « | 1 | 2 | 3 | 4 | 5 | » | Last | Show all



This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »






Report