Earned Income Tax Credit or Facebook's fair share - Page 2 - TigerDroppings.com

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SlowFlowPro
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Simple Solutions to Complex Probs
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re: Earned Income Tax Credit or Facebook's fair share


quote:

WHY has this not been fixed?

how do you fix it?






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Jbird
Iowa Fan
In Odramaville with EthanL
Member since Oct 2012
16347 posts

re: Earned Income Tax Credit or Facebook's fair share


The link is when you get more than you pay, in essence it isn't really any different than EITC, people use deductions when they file and receive EITC not much different.





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arseinclarse
LSU Fan
Chocolate City
Member since Apr 2007
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re: Earned Income Tax Credit or Facebook's fair share


Flat tax. Keep it simple. Our tax code is insane.


But, then again, who will stop companies from going to other countries?



This post was edited on 2/16 at 11:08 am


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lsu13lsu
LSU Fan
Member since Jan 2008
1905 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

how do you fix it?


Flat tax. No deductions.






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Jbird
Iowa Fan
In Odramaville with EthanL
Member since Oct 2012
16347 posts

re: Earned Income Tax Credit or Facebook's fair share


Isn't that what the smartest MFer in the world was yapping about in the SOTU?





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Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6686 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

So it is okay because it has always been that way? I am not following you.

It's being addressed in a democrat sponsored bill this year but look for the Tea Party to squeal like pigs over it.

What I objected to was the knee-jerk blame Obama snark in the original post.






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Gmorgan4982
LSU Fan
Member since May 2005
99122 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

so i don't see the connection
Me neither.






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Jbird
Iowa Fan
In Odramaville with EthanL
Member since Oct 2012
16347 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

What I objected to was the knee-jerk blame Obama snark in the original post.


I am shocked that you object to my snarkiness! Do you object to all snark or are you selective in your poutrage? The man and his peeps have had control for fricking years and has done nothing of substance with the exclusion of a healthcare debacle.






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lsu13lsu
LSU Fan
Member since Jan 2008
1905 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

What I objected to was the knee-jerk blame Obama snark in the original post.


why even address snark? let's fix the damn country. there is enough snark on both sides already ruining this country.






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lsu13lsu
LSU Fan
Member since Jan 2008
1905 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

Flat tax. Keep it simple. Our tax code is insane.


It is only insane to taxpayers. To politicians it is the perfect way to pay voters.



This post was edited on 2/16 at 11:35 am


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constant cough
LSU Fan
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Member since Jun 2007
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re: Earned Income Tax Credit or Facebook's fair share


Yay! More Crony Capitalism! Obama loves him some big business really it's just small businesses that he hates. You know, they didn't build that.





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Jbird
Iowa Fan
In Odramaville with EthanL
Member since Oct 2012
16347 posts

re: Earned Income Tax Credit or Facebook's fair share


Yeah and idiots think he is for the little guy!





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Reubaltaich
USA Fan
A nation under duress
Member since Jun 2006
2567 posts

re: Earned Income Tax Credit or Facebook's fair share


Layabout

So why doesn't barry make a huge push to end these tax 'loopholes' much like he is trying to ram through gun control laws?

You are a hack and a hypochrite, plain & simple.






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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
294623 posts
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re: Earned Income Tax Credit or Facebook's fair share


quote:

Flat tax. No deductions.

what are you taxing though?






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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
294623 posts
 Online 

re: Earned Income Tax Credit or Facebook's fair share


quote:

The link is when you get more than you pay, in essence it isn't really any different than EITC,

the question becomes, i believe, what were tehy liable for, what credits did they accumulate, and what did they pay and when

quote:

You won’t find any $429 million tax refund in Facebook’s financial statements. Indeed, the company says it had a $559 million federal tax liability in 2012. But that liability isn’t an actual payment. In a footnote, the company also said that it had a $1.03 billion “excess tax benefit” last year related to “stock option exercises and other equity awards.” That benefit is what flips the federal tax liability into a refund. (A small portion is applied against state taxes.)

that "excess tax benefit" sounds like they overpaid (at least on paper) last year and are receiving those amounts back this year. this is nothing like the EITC, which is basically a credit for just existing (with a certain income/dependent requirement level)

quote:

Facebook says that it anticipates reducing its tax liability in the future by an additional $2.17 billion by using further net operating loss carry-forwards that it has banked.

this is going to make some people rage






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120462 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:



So tell me then, barry has been prez for 4 years now, the dems had the House & Senate for two years, barry & the dems has had the WH & the Senate since 2008.

WHY has this not been fixed?

I see you backed off of calling him a hack and have resorted to this







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Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6686 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

You are a hack and a hypochrite, plain & simple.


Bite me.

And learn how to spell it if you're going to call people names.



This post was edited on 2/16 at 3:32 pm


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BBONDS25
LSU Fan
Member since Mar 2008
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re: Earned Income Tax Credit or Facebook's fair share


Link to this bill the dems are proposing?





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Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6686 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

Link to this bill the dems are proposing?


The reference to it was buried in the previous link to the Center for Tax Justice:

quote:

Some members of Congress have recently taken aim at this remaining tax break. In July of 2011, Senator Carl Levin (D-MI) introduced the “Ending Excess Executive Corporate Deductions for Stock Options Act,” to require companies to treat stock options the same for both book and tax purposes. Levin has signaled his intention to introduce similar legislation in early 2013. According to calculations made by Levin’s staff using IRS data, in the past five years U.S. companies have consistently deducted far more stock options for tax purposes than they recorded as a book expense. This “excess” deduction, according to Levin’s calculations, has ranged between $12 billion and $61 billion a year.


Levin introduced a similar bill in 2009.



This post was edited on 2/16 at 4:10 pm


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Reubaltaich
USA Fan
A nation under duress
Member since Jun 2006
2567 posts

re: Earned Income Tax Credit or Facebook's fair share


quote:

I see you backed off of calling him a hack and have resorted to this


Others have stated what I think it should be, a flat tax.






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