[quote]NickViar wrote:
It’s nice to talk about tax changes and cuts, but how does that work? If taxes are reduced, spending has to be cut. Tax changes are just intended to redistribute the tax burden. Where can we reduce spending? When we consider the children, the safety, and the security, can we afford to reduce spending by even a penny? I know that you may point to one program or another and claim that it can be cut, but think about it: Is keeping a little of “your” money really worth having your son renamed “Akbar Akaichiban Ali” by ISIS, losing access to the rays of the sun, and having America’s water supply replaced by the urine of the Chinese? FFS, people; If anything, we should be talking the best way for our government to completely take over the economy of the United States without a bunch of America-hating communists sniveling about it. [/quote]
I’d like to see Social Security phased out over the next 15-20 years.
[quote]NickViar wrote:
It’s nice to talk about tax changes and cuts, but how does that work? If taxes are reduced, spending has to be cut. Tax changes are just intended to redistribute the tax burden. Where can we reduce spending? When we consider the children, the safety, and the security, can we afford to reduce spending by even a penny? I know that you may point to one program or another and claim that it can be cut, but think about it: Is keeping a little of “your” money really worth having your son renamed “Akbar Akaichiban Ali” by ISIS, losing access to the rays of the sun, and having America’s water supply replaced by the urine of the Chinese? FFS, people; If anything, we should be talking the best way for our government to completely take over the economy of the United States without a bunch of America-hating communists sniveling about it. [/quote]
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
[quote]NickViar wrote:
It’s nice to talk about tax changes and cuts, but how does that work? If taxes are reduced, spending has to be cut. Tax changes are just intended to redistribute the tax burden. Where can we reduce spending? When we consider the children, the safety, and the security, can we afford to reduce spending by even a penny? I know that you may point to one program or another and claim that it can be cut, but think about it: Is keeping a little of “your” money really worth having your son renamed “Akbar Akaichiban Ali” by ISIS, losing access to the rays of the sun, and having America’s water supply replaced by the urine of the Chinese? FFS, people; If anything, we should be talking the best way for our government to completely take over the economy of the United States without a bunch of America-hating communists sniveling about it. [/quote]
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
How does that make you feel?
[/quote]
HEY HEY HEY
Don’t take my $ - get it from GE or someone,
[quote]NickViar wrote:
It’s nice to talk about tax changes and cuts, but how does that work? If taxes are reduced, spending has to be cut. Tax changes are just intended to redistribute the tax burden. Where can we reduce spending? When we consider the children, the safety, and the security, can we afford to reduce spending by even a penny? I know that you may point to one program or another and claim that it can be cut, but think about it: Is keeping a little of “your” money really worth having your son renamed “Akbar Akaichiban Ali” by ISIS, losing access to the rays of the sun, and having America’s water supply replaced by the urine of the Chinese? FFS, people; If anything, we should be talking the best way for our government to completely take over the economy of the United States without a bunch of America-hating communists sniveling about it. [/quote]
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
How does that make you feel?
[/quote]
I made peace with that years ago. I’d rather it not limp along forever though.
[quote]NickViar wrote:
It’s nice to talk about tax changes and cuts, but how does that work? If taxes are reduced, spending has to be cut. Tax changes are just intended to redistribute the tax burden. Where can we reduce spending? When we consider the children, the safety, and the security, can we afford to reduce spending by even a penny? I know that you may point to one program or another and claim that it can be cut, but think about it: Is keeping a little of “your” money really worth having your son renamed “Akbar Akaichiban Ali” by ISIS, losing access to the rays of the sun, and having America’s water supply replaced by the urine of the Chinese? FFS, people; If anything, we should be talking the best way for our government to completely take over the economy of the United States without a bunch of America-hating communists sniveling about it. [/quote]
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
How does that make you feel?
[/quote]
HEY HEY HEY
Don’t take my $ - get it from GE or someone,
[/quote]
And when GE relocated to China who’s gonna pay for it?
[quote]NickViar wrote:
It’s nice to talk about tax changes and cuts, but how does that work? If taxes are reduced, spending has to be cut. Tax changes are just intended to redistribute the tax burden. Where can we reduce spending? When we consider the children, the safety, and the security, can we afford to reduce spending by even a penny? I know that you may point to one program or another and claim that it can be cut, but think about it: Is keeping a little of “your” money really worth having your son renamed “Akbar Akaichiban Ali” by ISIS, losing access to the rays of the sun, and having America’s water supply replaced by the urine of the Chinese? FFS, people; If anything, we should be talking the best way for our government to completely take over the economy of the United States without a bunch of America-hating communists sniveling about it. [/quote]
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
How does that make you feel?
[/quote]
I made peace with that years ago. I’d rather it not limp along forever though. [/quote]
We give up our rights so easily. We allow the government to steal money from us lie to us and basically commit fraud. And…we do nothing.
[quote]NickViar wrote:
It’s nice to talk about tax changes and cuts, but how does that work? If taxes are reduced, spending has to be cut. Tax changes are just intended to redistribute the tax burden. Where can we reduce spending? When we consider the children, the safety, and the security, can we afford to reduce spending by even a penny? I know that you may point to one program or another and claim that it can be cut, but think about it: Is keeping a little of “your” money really worth having your son renamed “Akbar Akaichiban Ali” by ISIS, losing access to the rays of the sun, and having America’s water supply replaced by the urine of the Chinese? FFS, people; If anything, we should be talking the best way for our government to completely take over the economy of the United States without a bunch of America-hating communists sniveling about it. [/quote]
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
How does that make you feel?
[/quote]
I made peace with that years ago. I’d rather it not limp along forever though. [/quote]
We give up our rights so easily. We allow the government to steal money from us lie to us and basically commit fraud. And…we do nothing.
Nice!
[/quote]
I’m not sure what you’d like us to do other than try and end the program. I’m not gonna march on Fort Knox just yet.
[quote]treco wrote:
Since C Corps are an entity and utilize common-good services (roads,police,utilities), I would rather see them pay taxes or move to a REIT like status that doles out the earnings each year to those who will pay something.
GE making $35BB US profits the last 4 years and having $2BB tax credit??
I understand they have rightly avoided taxation as they should, but the system needs changing.[/quote]
For every GE you can find 10 other companies that have an effective rate of 30%+. For example, I was just looking at Medifast, Inc.'s 2014 K-10 and their effective rate was 33.6% (smaller company, but not the point).
Let them keep that 30% and employee more people / expand. It’s just double or triple taxation. [/quote]
2000
GE worldwide workforce 313,000
GE US workforce 168,000
2014
GE worldwide workforce 305,000
GE US workforce 136,000
[quote]treco wrote:
Since C Corps are an entity and utilize common-good services (roads,police,utilities), I would rather see them pay taxes or move to a REIT like status that doles out the earnings each year to those who will pay something.
GE making $35BB US profits the last 4 years and having $2BB tax credit??
I understand they have rightly avoided taxation as they should, but the system needs changing.[/quote]
For every GE you can find 10 other companies that have an effective rate of 30%+. For example, I was just looking at Medifast, Inc.'s 2014 K-10 and their effective rate was 33.6% (smaller company, but not the point).
Let them keep that 30% and employee more people / expand. It’s just double or triple taxation. [/quote]
2000
GE worldwide workforce 313,000
GE US workforce 168,000
2014
GE worldwide workforce 305,000
GE US workforce 136,000
[quote]NickViar wrote:
It’s nice to talk about tax changes and cuts, but how does that work? If taxes are reduced, spending has to be cut. Tax changes are just intended to redistribute the tax burden. Where can we reduce spending? When we consider the children, the safety, and the security, can we afford to reduce spending by even a penny? I know that you may point to one program or another and claim that it can be cut, but think about it: Is keeping a little of “your” money really worth having your son renamed “Akbar Akaichiban Ali” by ISIS, losing access to the rays of the sun, and having America’s water supply replaced by the urine of the Chinese? FFS, people; If anything, we should be talking the best way for our government to completely take over the economy of the United States without a bunch of America-hating communists sniveling about it. [/quote]
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
How does that make you feel?
[/quote]
I made peace with that years ago. I’d rather it not limp along forever though. [/quote]
We give up our rights so easily. We allow the government to steal money from us lie to us and basically commit fraud. And…we do nothing.
Nice!
[/quote]
I’m not sure what you’d like us to do other than try and end the program. I’m not gonna march on Fort Knox just yet. [/quote]
It’s not about marching on Fort Knox. This has happened over a period of years when the average adult was more interested in American Idol and the Super Bowl than who is representing them and what they were doing. We are in a really, really bad place because that’s where the majority of Americans deserve to be!
GE making $35BB US profits the last 4 years and having $2BB tax credit??
[/quote]
Until you know why they have the “credit” this is just an empty talking point that only works on people with little to know understanding of taxation. [/quote]
While this is talking 2010, GE does have the reputation for not paying much federal income tax.
I am not E Warren saying they pay none, I believe we have to pay for our society with taxation, I hated paying so much in taxes when I owned businesses doing $MMs of revs per year and used every legit deduction I could before it went pass-through to my personal return.
My opening point was for a small 10% tax but shared by ALL - rich or not. True the corporate is double taxation, but that can whittled down by paying it out rather than lobbying for loopholes, offshoring profits through tax havens or fancy accounting. The Fortune 500 does 72% of US GDP and they enjoy infrastructure, national and international security, the education system, and a massive free market to peddle all of their now foreign made wares.
I don’t hope to be able to debate the most complex intricacies of the tax code or some unique provisions that some lobbyists has persuaded the holders of the code to include. But I swear I can’t understand why even a CPA with probably a masters in taxation thinks that GE should rarely pay and Medifast (USMC’s example above) pay 30%, instead of more shoulders being against the wheel.
By the way, this post is not meant to be personally belligerent to you or even your viewpoint.
[quote]usmccds423 wrote:
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
[/quote]
I think you know that’s not an accurate description of the current status of SSN.
As a result of changes to Social Security enacted in 1983, benefits are now expected to be payable in full on a timely basis until 2037, when the trust fund reserves are projected to become exhausted.1 At the point where the reserves are used up, continuing taxes are expected to be enough to pay 76 percent of scheduled benefits. Thus, the Congress will need to make changes to the scheduled benefits and revenue sources for the program in the future. The Social Security Board of Trustees project that changes equivalent to an immediate reduction in benefits of about 13 percent, or an immediate increase in the combined payroll tax rate from 12.4 percent to 14.4 percent, or some combination of these changes, would be sufficient to allow full payment of the scheduled benefits for the next 75 years.
GE making $35BB US profits the last 4 years and having $2BB tax credit??
[/quote]
Until you know why they have the “credit” this is just an empty talking point that only works on people with little to know understanding of taxation. [/quote]
While this is talking 2010, GE does have the reputation for not paying much federal income tax. [/quote]
No where in here does it explain how it came to be they paid no tax. It should be rather obvious that I can think of a plethora of situations that would result in that, yet I’m not blathering on like an ill-informed journalist about “no tax paid”. There is a reason for that.
Again, you don’t even know what happened. You haven’t been able to list the reasons their tax bill was so low. Until you can, you’re talking from a position of complete ignorance.
It isn’t that I think GE should be exempt from tax, my position is firmly: neither I nor any slap dick journalist has seen GE’s return, therefore neither of us know WHY they paid so little tax. And until we know why, both our opinions on that why are bunk.
GE making $35BB US profits the last 4 years and having $2BB tax credit??
[/quote]
Until you know why they have the “credit” this is just an empty talking point that only works on people with little to know understanding of taxation. [/quote]
While this is talking 2010, GE does have the reputation for not paying much federal income tax. [/quote]
No where in here does it explain how it came to be they paid no tax. It should be rather obvious that I can think of a plethora of situations that would result in that, yet I’m not blathering on like an ill-informed journalist about “no tax paid”. There is a reason for that.
Again, you don’t even know what happened. You haven’t been able to list the reasons their tax bill was so low. Until you can, you’re talking from a position of complete ignorance.
It isn’t that I think GE should be exempt from tax, my position is firmly: neither I nor any slap dick journalist has seen GE’s return, therefore neither of us know WHY they paid so little tax. And until we know why, both our opinions on that why are bunk. [/quote]
[quote]usmccds423 wrote:
I’d like to see Social Security phased out over the next 15-20 years.
[/quote]
LOL…there is barely any money left to pay people until 2020 so it will be gone…another failed government program. I assure you this you will never see one dime of what you paid into it.
[/quote]
I think you know that’s not an accurate description of the current status of SSN.
As a result of changes to Social Security enacted in 1983, benefits are now expected to be payable in full on a timely basis until 2037, when the trust fund reserves are projected to become exhausted.1 At the point where the reserves are used up, continuing taxes are expected to be enough to pay 76 percent of scheduled benefits. Thus, the Congress will need to make changes to the scheduled benefits and revenue sources for the program in the future. The Social Security Board of Trustees project that changes equivalent to an immediate reduction in benefits of about 13 percent, or an immediate increase in the combined payroll tax rate from 12.4 percent to 14.4 percent, or some combination of these changes, would be sufficient to allow full payment of the scheduled benefits for the next 75 years.
[/quote]
Well that sounds just groovy and all official. The problem is you are dealing with thieves and liars so your stats mean nothing. I am telling you now that if you are below the age of about 35 or so, you will not collect one thin dime.
An informed individual can, and will draw conclusions from that report, but the only people that read that and bring out the pitchforks are ill-informed journalists, and envious lefties.
Most of what is stated there is a massive “duh” given the current conversation. But it’s impossible to have a conversation about “lobbyists” and their evil “loopholes” without knowing what evil loopholes resulted in GE paying tax.
(Obviously, I’m being flippant, as there are exactly zero loopholes in the IRC, and very little true “lobbyists and special interest’s” influence. Because much like “fair share” no one claiming the opposite can list many examples for me to point out how they are wrong…)
An informed individual can, and will draw conclusions from that report, but the only people that read that and bring out the pitchforks are ill-informed journalists, and envious lefties.
Most of what is stated there is a massive “duh” given the current conversation. But it’s impossible to have a conversation about “lobbyists” and their evil “loopholes” without knowing what evil loopholes resulted in GE paying tax.
(Obviously, I’m being flippant, as there are exactly zero loopholes in the IRC, and very little true “lobbyists and special interest’s” influence. Because much like “fair share” no one claiming the opposite can list many examples for me to point out how they are wrong…) [/quote]
Ya, I was just throwing that out for Treco to see they did in fact pay taxes per their annual report and their were a number of factors involved (like NOL carry forward).
