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Message
re: Ilhan Omar pushes for new tax on stock trades amid GameStop frenzy
Posted on 2/1/21 at 8:07 pm to iAmBatman
Posted on 2/1/21 at 8:07 pm to iAmBatman
quote:
How did you come to that con?
How do you go about funding public services?
The amount of post activity on the MT has dramatically picked up in the last week or two. Sadly, most of the increased activity has come from Poli Talk clowns coming over here.
0
Posted on 2/1/21 at 8:11 pm to Vols&Shaft83
quote:
Are you implying that corporations are exempt from sales tax?
The company I work pays damn near no sales tax. We aren’t a huge company by any means so I can only imagine what other, larger companies can get away with.
Posted on 2/1/21 at 8:17 pm to Nguyener
quote:
You could slash the federal and state budgets 50% tomorrow and I doubt anyone other than politicians pockets and special interest groups would even notice. There is such a tremendous amount of gross incompetence, corruption, and bloat in our government that the thought of increasing taxes for more government programs is unconscionable and insane.
That doesn’t change the fact that under a “fair tax” system, 100% of the tax burden would be placed on end consumers. Seems a tad excessive to me but maybe others want to increase their tax burden. Not something I’d be into.
Posted on 2/1/21 at 8:17 pm to iAmBatman
quote:
The company I work pays damn near no sales tax. We aren’t a huge company by any means so I can only imagine what other, larger companies can get away with.
3 entities are exempt from sales tax with rare exceptions
1. Federal Government (not Government employees or contractors)
2. State and local governments (again not employees or contractors)
3. Tax exempt registered non-profits
So unless your company is one of these, either the rules don't apply to Wayne Enterprises or you're full of shite.
Posted on 2/1/21 at 8:20 pm to Vols&Shaft83
I know for a fact that the hundreds of millions in raw materials that we purchase annually are subject to a sales tax rate of zero point dick percent.
Posted on 2/1/21 at 8:23 pm to iAmBatman
Who do you think pays corporate taxes?
Posted on 2/1/21 at 8:24 pm to fallguy_1978
quote:
Who do you think pays corporate taxes?
I was replying to someone advocating a “fair tax” system which is essentially a sales tax.
Posted on 2/1/21 at 8:27 pm to iAmBatman
I did not read the thread but I usually laugh when people think businesses pay taxes. The consumer pays all of them.
I'd rather a "fair tax" than income or property taxes though but it'll never happen.
I'd rather a "fair tax" than income or property taxes though but it'll never happen.
Posted on 2/1/21 at 8:28 pm to Shamoan
quote:
The people running our country are retarded.
And they can stay retarded much longer than you can stay solvent
Posted on 2/1/21 at 8:33 pm to Vols&Shaft83
quote:
3 entities are exempt from sales tax with rare exceptions
Use-based exemption from products that are going to be resold is far more common...
Posted on 2/1/21 at 8:35 pm to Vols&Shaft83
You don’t have to pay sales tax on items that are for resale or raw materials that go into producing a product. The consumer ends up paying that on the final value. There’s also sales tax exemptions on manufacturing equipment.
Posted on 2/1/21 at 8:44 pm to WPBTiger
Democrats are finally going to learn who their heroes really care about, but then pretend not to notice when the $1400 check clears.
Posted on 2/1/21 at 9:00 pm to iAmBatman
quote:
I know for a fact that the hundreds of millions in raw materials that we purchase annually are subject to a sales tax rate of zero point dick percent.
The old 'Fair Tax' idea is different from a 'Value Added Tax' [VAT] as deployed in Europe and elsewhere.
You don't get taxed over and over again from the same raw materials making their way down the assembly and logistics line like VAT. With Fair Tax, only the end user pays it. And the original Fair Tax proposal included a rebate of X dollars to every household to compensate for whatever amount of taxes a family would pay for necessities like groceries etc. It really was a good plan. But it's fantasy now. Hell it was fantasy then.
Posted on 2/1/21 at 9:15 pm to iAmBatman
quote:
That doesn’t change the fact that under a “fair tax” system, 100% of the tax burden would be placed on end consumers.
What are you taking about?
Posted on 2/1/21 at 9:18 pm to iAmBatman
quote:
know for a fact that the hundreds of millions in raw materials that we purchase annually are subject to a sales tax rate of zero point dick percent.
Those materials are eventually taxed as an end product. They’re just not taxed at every single stop from factory to consumer.
Do you not understand that?
You’d rather every single transaction be taxed at every level?
And I guarantee you that your company pays taxes. The company is not tax exempt. The raw materials you buy may be tax exempt but that’s because those material are taxed later.
Posted on 2/1/21 at 9:18 pm to fallguy_1978
quote:
I usually laugh when people think businesses pay taxes
I’m assuming you’ve never run a business
Posted on 2/1/21 at 10:00 pm to Nguyener
I never said we weren’t taxed. Under a proposed “fair tax” system, only end users (typically consumers) pay a tax. That means corporations go untaxed (or extremely low tax)
Posted on 2/1/21 at 10:49 pm to iAmBatman
quote:
I was replying to someone advocating a “fair tax” system which is essentially a sales tax
Have you ever run a business?
If you need to Make a PM of 5% for it to be worth it and they raise taxes, what is the first thing a business will do? Pass the cost to consumers... why? Because they need to make 5% pm for it to be when it.
Taxes are just another cost to a business, that along with the pm needed determine the cost. Market forces are equal in this case as the tax should apply to all competitors too.
Again taxation as it currently is structured is fricking theft.
Enjoy working tomorrow and Wednesday for yourself. But remember Thursday and Friday when you wake up... you are working to pay uncle Sam and ptop up the real elites in Washington.
Posted on 2/2/21 at 6:17 am to Nguyener
i own a small business
we pay hundreds of thousands in taxes every year
we don’t pay any income tax
we pay hundreds of thousands in taxes every year
we don’t pay any income tax
Posted on 2/2/21 at 6:19 am to rocket31
quote:
ZERO long term capital gains tax
they HATE LTCG
that's how they get the whole "warren buffet pays less taxes than his secretary" meme
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