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Posted on 3/12/24 at 12:46 am to tarzana
No, we need to reduce the fed govt spending. Get it out of Healthcare, education, and the majority of the other ABC agencies need to be canned. Cut off all social services to all illegal aliens.
No foreign aid until we have a surplus.
The power needs to go back to the states and locals.
No foreign aid until we have a surplus.
The power needs to go back to the states and locals.
This post was edited on 3/12/24 at 12:49 am
Posted on 3/12/24 at 1:41 am to udtiger
quote:
Dems are fricking retarded when it comes to economics.
They aren’t stupid they are doing it on purpose to generate more revenue for their entitlement programs and purchasing. Entitlement programs will hook and lock in new voters and increased revenue will allow more spending to funnel more money either to companies they are affiliated with or allow them to do some insider trading. It’s all to enrich themselves while making future voters more dependent on handouts
Posted on 3/12/24 at 2:22 am to HailHailtoMichigan!
Why is this even a tax?
If all a company has to do is show a loss or make very little money, then their taxes are essentially ZERO.
Raising these taxes are worthless feel good tax policies that will penalize shareholders and investors.
You have to love the tax code when it it based on the profit of the business. Now if they started taxing the gross coming in, it could get ugly.
Now in other countries that do this, it does force the companies to reinvest back into the business so their profit nothing and the 90% tax rate comes out as a wash because the company made zero dollars, so 90% of 0 is Zero.
Now here is an idea Washington, a business tax on consumption like a sales tax, on raw materials and equipment. The tax wouldn’t need to be 90%, it could be small like 5%. Since there are no loopholes, tax deductions, or hocus-pocus accounting, all businesses pay the tax based on how much is used. And it is paid at time of purchase.
If all a company has to do is show a loss or make very little money, then their taxes are essentially ZERO.
Raising these taxes are worthless feel good tax policies that will penalize shareholders and investors.
You have to love the tax code when it it based on the profit of the business. Now if they started taxing the gross coming in, it could get ugly.
Now in other countries that do this, it does force the companies to reinvest back into the business so their profit nothing and the 90% tax rate comes out as a wash because the company made zero dollars, so 90% of 0 is Zero.
Now here is an idea Washington, a business tax on consumption like a sales tax, on raw materials and equipment. The tax wouldn’t need to be 90%, it could be small like 5%. Since there are no loopholes, tax deductions, or hocus-pocus accounting, all businesses pay the tax based on how much is used. And it is paid at time of purchase.
Posted on 3/12/24 at 2:24 am to udtiger
quote:
Dems are fricking retarded when it comes to economics.
They push policies that narrowly benefit their big money donors.
Posted on 3/12/24 at 5:41 am to HailHailtoMichigan!
Where do most Americans with a retirement have money invested…….. stocks in some format of major us companies. Higher taxes will lower their profits, lowering their dividends and value
Posted on 3/12/24 at 6:00 am to udtiger
quote:
Dems are fricking retarded when it comes to economics.
Biden's dementia must be contagious as they seem to forget about the corporate inversion issue he faced for most of his second term.
Posted on 3/12/24 at 6:09 am to tigeraddict
One, its bull, its a taxed based on unrealized gains, so unless as we have seen with the evaluators of Trump's businesses, in which case it might be welcomed since they would evaluate Elon Musk as eligible for food stamps.
Two, this bullshite he always quotes about X corporations paid no tax, well if they are tax averaging because they just spent a fortune on buying another company or a building a plant, they might have no tax "that year" and pay a lot in other years.
Three, they move all expansion offshore as we saw with China. Here is the Apple model. I manufacture an Iphone for 100 bucks in China. On paper I transfer that asset to Ireland (who has a very low corporate tax). I then transfer the phone to the US at a carrying cost of 1,000, and sell it in the US for 1100 (this is on paper, the actual phone comes from China). I realize 100 gross profit in the US, pay all my overhead of headquarters, marketing, etc and have a net profit of 10 bucks that I pay taxes on.
The real profit of 900 remains offshore in Ireland, I then move it to my own Money Management company based in the US where it is invested. And anytime I need a new factory in China I just pull from this account.
The net effect, I collect little taxes, and ALL my capital investment is offshore....along with the jobs and the taxes.
Two, this bullshite he always quotes about X corporations paid no tax, well if they are tax averaging because they just spent a fortune on buying another company or a building a plant, they might have no tax "that year" and pay a lot in other years.
Three, they move all expansion offshore as we saw with China. Here is the Apple model. I manufacture an Iphone for 100 bucks in China. On paper I transfer that asset to Ireland (who has a very low corporate tax). I then transfer the phone to the US at a carrying cost of 1,000, and sell it in the US for 1100 (this is on paper, the actual phone comes from China). I realize 100 gross profit in the US, pay all my overhead of headquarters, marketing, etc and have a net profit of 10 bucks that I pay taxes on.
The real profit of 900 remains offshore in Ireland, I then move it to my own Money Management company based in the US where it is invested. And anytime I need a new factory in China I just pull from this account.
The net effect, I collect little taxes, and ALL my capital investment is offshore....along with the jobs and the taxes.
Posted on 3/12/24 at 6:13 am to HailHailtoMichigan!
quote:Indeed.
The amount of democrats (and frankly some anti corporate populists) who cannot grasp that corporate taxes are paid by everyday Americans
Then he's hitting corporations at the other end by raising Cap Gains to normal income rates. That could essentially double the tax rates on unprotected retiree investment income.
Unless he does the same with homes, a ton of folks will be jumping from stocks to that market, and home prices will skyrocket. If he applies his Cap Gains rules to homes to prevent that explosion instead, he'll devastate middle class American home sellers.
It perfectly exemplifies the binary nature of choices confronting us in November. But Trump is a boor who too often tweets mean stuff, and he didn't eliminate our deficits in the 4yrs he served.
Posted on 3/12/24 at 6:17 am to tarzana
quote:
Who are you calling stupid?
The retard who thinks the only way to erase a budget deficit is to steal other peoples money.
Posted on 3/12/24 at 6:25 am to tarzana
What do you do for work?
Posted on 3/12/24 at 6:26 am to OU Guy
quote:
who is going to put valuations on their companies , on their mansions , art , cars , etc ?
Posted on 3/12/24 at 6:43 am to HailHailtoMichigan!
Someone should tell him that will increase prices, not drop them.
Posted on 3/12/24 at 6:43 am to tarzana
quote:Wait!
Whatever it takes to close the budget deficit
Please don't tell me you think crushing investment taxation coupled with an immediate de facto 6% inflation hike would be devoid of economic effect.
Posted on 3/12/24 at 6:55 am to udtiger
quote:
Dems are fricking retarded when it comes to economics.
Economics , Foreign Policy, Trade Policy , democrats are retarded when it comes to everything .
Posted on 3/12/24 at 7:03 am to NIH
quote:
What do you do for work?
Some bold assumptions in this question to tarzana.
Posted on 3/12/24 at 7:16 am to tarzana
quote:
Who are you calling stupid?
You dumbass. He’s calling you stupid.
Typical groupthink of your ilk to EXPECT one layer of society to coddle the lazy, ignorant masses.
Posted on 3/12/24 at 7:18 am to tarzana
quote:
tarzana
I would like to applaud your ability to not realize you are advocating for two opposing positions in back-to-back sentences.
First, we have this:
quote:
Now I didn't major in economics, but I know that running budget deficits of such enormity invite fiscal disaster.
Followed directly by this:
quote:
We definitely need to continue investments through spending, and defense spending (which includes Ukraine and the Middle East), and healthcare, social programs spending, we need to SPEND. So increased taxation is here therapeutic-- even if it means windfall profits taxes and "soak the rich" tax policy.
In other words, what you are actually saying is that "spending into massive annual deficits is bad to do, except for the massive deficit spending on pretty much everything we're already heavily deficit spending on."
That is truly an astounding level of lack of self-awareness.
This post was edited on 3/12/24 at 7:20 am
Posted on 3/12/24 at 7:20 am to HailHailtoMichigan!
quote:
HailHailtoMichigan!
You voted for him and will vote for him again.
Posted on 3/12/24 at 7:23 am to tarzana
quote:
Now I didn't major in economics
you don't say
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