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(Fox Business)   And lo, the moon became as blood, and the seventh seal opened, and Fox News wrote an article railing against a tax cut   (foxbusiness.com) divider line 28
    More: Strange, Fox News, McBride, cranes, income taxes, treasury securities, booms and busts, corporate tax  
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1571 clicks; posted to Business » on 22 Feb 2012 at 10:17 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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vpb [TotalFark]
2012-02-22 09:33:36 AM
Tax cuts are wasted on those stinky middle class people.
 
2012-02-22 10:19:46 AM
Of course, it's a tax cut for the little people.
 
2012-02-22 10:25:19 AM
Well, at least he's being non-partisan in his hate for a bipartisan proposal, I guess.

//Glad I'm putting away my own money for retirement, this shiat is a mess.
 
2012-02-22 10:28:23 AM
FTA:

If we're serious about turning this around, he says the simple- albeit politically and socially unpopular- solution is: reduce the taxes that American corporations pay, which is currently the second-highest in the world.

Well, I wonder how quickly Faux News will do a 180 on this point when they realize that Obama proposed just what they asked for...

Obama to propose corporate tax rate of 28 percent (new window)
 
2012-02-22 10:30:04 AM

rdu_voyager: FTA:

If we're serious about turning this around, he says the simple- albeit politically and socially unpopular- solution is: reduce the taxes that American corporations pay, which is currently the second-highest in the world.

Well, I wonder how quickly Faux News will do a 180 on this point when they realize that Obama proposed just what they asked for...

Obama to propose corporate tax rate of 28 percent (new window)


They will just claim it to be their idea, or the GOP will say they've been calling for that all along.

/no mention in the article of the Bush tax cuts.
 
2012-02-22 10:30:20 AM
Pfft, FBC opposing Obama on everything is not Apocalyptic. More like "sun rises in east, water wet, etc."

/by this point you just expect it
//I hear air is good for you
 
2012-02-22 10:38:29 AM
...and Mitt Romney acknowledged that cutting government spending during a recession hurts the economy:

Link (new window)
 
2012-02-22 10:41:58 AM
and democrats will defend an 'unfunded' tax cut even though that's what they decried about the "Bush" (Now Obama) tax cuts.
 
2012-02-22 10:48:02 AM
That's because the goal of all businesses is to make a profit, which is the income they have left over after paying expenses, including taxes. "There's two things they can spend this on," explains McBride, "labor or capital."

Are companies not allowed to pay out dividends anymore? I also like how they neglect to mention labor spending includes executive bonuses; it must only mean increased hiring.
 
2012-02-22 10:51:52 AM

MugzyBrown: and democrats will defend an 'unfunded' tax cut even though that's what they decried about the "Bush" (Now Obama) tax cuts.


It's different when they do it. I am enjoying my 2% raise, but let's be real here: this isn't a tax cut, it's a tax deferrment. We'll have to pay all of this back in a few years (with interest). The only real tax cut is a spending cut.
 
2012-02-22 10:52:05 AM
FTA: "our record $15 trillion federal deficit"

The author doesn't know the difference between the deficit and the debt.
 
2012-02-22 10:52:49 AM

MugzyBrown: and democrats will defend an 'unfunded' tax cut even though that's what they decried about the "Bush" (Now Obama) tax cuts.


The payroll taxcut is funded out of the general fund.
 
2012-02-22 10:54:38 AM

NewWorldDan: The only real tax cut is a spending cut.


Or a debt reduction from buying back bonds.
 
2012-02-22 10:56:03 AM
The payroll taxcut is funded out of the general fund.

The general deficit you mean?
 
2012-02-22 11:03:02 AM

vpb: Tax cuts are wasted on those stinky middle class people.


We'll just go and waste it on food, clothing, entertainment, and other goods and services. How will this help the economy in any way?
 
2012-02-22 11:07:25 AM
Taxes such as Social Security on the little people need to be kept high according to Fox News. Just don't attempt to tax the investments of the top 1%.

This article is hardly surprising from Fox.
 
2012-02-22 11:19:44 AM
Meh, I just put the extra 2% in my 401k. Which I guess is good, right? Either way I probably wouldn't decrease my contribution if this went away.
 
2012-02-22 11:29:35 AM

rdu_voyager: FTA:

If we're serious about turning this around, he says the simple- albeit politically and socially unpopular- solution is: reduce the taxes that American corporations pay, which is currently the second-highest in the world.

Well, I wonder how quickly Faux News will do a 180 on this point when they realize that Obama proposed just what they asked for...

Obama to propose corporate tax rate of 28 percent (new window)


not only did Fox do a 180, but called it "taking a page from the Reagan playbook"

Link (new window)

if that's not an endorsement of this initiative, i don't know what is!
 
2012-02-22 11:40:55 AM
Not exactly earth shattering as it's a tax cut for the pesants.
Now had it been a tax cut on say private jets, or yatchs the article would have tied it to liberty freedom and kittens all of which would be in jeopardy w/o said tax cut.

they couldn't be anymore naked if their skin was removed

hypnozombie
 
2012-02-22 11:46:25 AM
FTFA: In fact, the payroll tax rate in the U.S. is already the lowest among the OECD countries! (Find the complete report here)

FTFComplete Report: "France and Hungary had the highest payroll tax rates, at around 50 percent, while New Zealand had the lowest at zero percent." Looking at the table, the OECD countries with payroll taxes lower than the US (16%) are: NZ (0%), Australia (6.1%), Iceland (6.0%), Chile (7.0%), Denmark (10.9%), Switzerland (12.4%), Israel (13%), and Mexico (13.2%).

There's only 34 countries in the OECD, but okay Fox News, go ahead and ignore 8 of them if it makes you feel better.
 
2012-02-22 12:42:34 PM
Just so we keep these things straight, according to Fox:

1. Putting the top tax rate back to what it was under Reagan = socialism.

2. Reducing payroll taxes = "bone-headed economics".

I wonder why reducing one kind of tax is bad, but reducing another kind of tax is good. If only there was some sort of pattern...
 
2012-02-22 01:25:25 PM

quokka70: FTA: "our record $15 trillion federal deficit"

The author doesn't know the difference between the deficit and the debt.


Reagan proved facts don't matter.
 
2012-02-22 01:43:49 PM

paswa17: That's because the goal of all businesses is to make a profit, which is the income they have left over after paying expenses, including taxes. "There's two things they can spend this on," explains McBride, "labor or capital."

Are companies not allowed to pay out dividends anymore? I also like how they neglect to mention labor spending includes executive bonuses; it must only mean increased hiring.


Also, not an accountant, but unless I'm completely confused, wouldn't labor and capital expenses both be included as expenses and thus reduce profit (and taxes)?

I would think that the only thing they could spend profit on besides dividends would be letting it sit in the bank, stock or debt repurchases, etc.
 
2012-02-22 03:15:49 PM
I'm so confused. Liberals assure me that Social Security FICA is not a tax, but the government saving my money for me.
 
2012-02-22 03:34:17 PM

beta_plus: I'm so confused.


Must be a day that ends in Y.
 
2012-02-22 06:48:05 PM

Poison Appleseeds: beta_plus: I'm so confused.

Must be a day that ends in Y.


Yep, it's a day when Democrats say one thing but mean another.
 
2012-02-23 04:21:29 PM
You should know by now: if a democrat supports a tax cut, it's automatically bad. Only tax cuts for the extremely wealthy are valid.
 
2012-02-23 05:21:06 PM

beta_plus: Poison Appleseeds: beta_plus: I'm so confused.

Must be a day that ends in Y.

Yep, it's a day when Democrats say one thing but mean another.


Yep, it's a day when beta_plus is out trolling.
 
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