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Posted on 8/15/20 at 10:01 am
Posted on 8/15/20 at 10:01 am
(no message)
This post was edited on 9/26/21 at 3:21 pm
29
Posted on 8/15/20 at 10:03 am to tigersfan1989
They would just move operations to tax friendly countries.
Posted on 8/15/20 at 10:06 am to tigersfan1989
Until Trump's cuts the US had the highest corporate tax rates in the world. So, when he reduced them it was called 'giving big corporations money.' It wasn't giving them anything. It was stealing less of what they earned.
Posted on 8/15/20 at 10:06 am to tigersfan1989
I'm for people working not getting tax breaks along with corporations.
Too many people in this country get a free ride.
Too many people in this country get a free ride.
Posted on 8/15/20 at 10:08 am to 93and99
Remember Corporations do not pay taxes. It is passed on.
Posted on 8/15/20 at 10:09 am to Jcpau
quote:
Remember Corporations do not pay taxes. It is passed on.
Posted on 8/15/20 at 10:09 am to Zach
Property tax breaks are Still giving big corporations money. They get exemptions all the time for taxes that Should go towards infrastructure , Schools, etc that actually help them do business and succeed but they get a break from it. Next thing you know theses wonderful corporations lay your arse off when times get tough. Then they go and beg for a bailout from Uncle Sam which is you the tax payer
This post was edited on 8/15/20 at 10:14 am
Posted on 8/15/20 at 10:12 am to tigersfan1989
quote:
I’m thinking we would be. Corporations can learn to deal with income and property taxes without breaks. What do you think
I think you couldn't name a specific break that bothers you if your life depended on it
Posted on 8/15/20 at 10:13 am to tigersfan1989
I wouldn't be opposed to a change in the 179 deduction to achieve its purpose better.
Posted on 8/15/20 at 10:13 am to tigersfan1989
How much did you pay in Federal Income Taxes last year ?
Did you pay your share ?
Did you pay your share ?
Posted on 8/15/20 at 10:16 am to 93and99
Yea I paid in my fair share last year
Posted on 8/15/20 at 10:17 am to ShortyRob
Property tax breaks is a big one. I can go on and on with tax breaks
Posted on 8/15/20 at 10:18 am to ShortyRob
Can y'all imagine the bodies in the streets just pilling up if we got rid of corporate taxes? You know, the least efficient way to tax a society lol
Posted on 8/15/20 at 10:22 am to tigersfan1989
quote:
I’m thinking we would be. Corporations can learn to deal with income and property taxes without breaks. What do you think
I don't think you have any idea what a 'corporate tax break' is
Posted on 8/15/20 at 10:23 am to 93and99
Who the frick do you believe pays corporate taxes?
This should be hilarious.
This should be hilarious.
Posted on 8/15/20 at 10:24 am to Ole War Skule
quote:
I don't think you have any idea what a 'corporate tax break' is
A bonus and stock options for executives?
Posted on 8/15/20 at 10:31 am to tigersfan1989
quote:
I’m thinking we would be. Corporations can learn to deal with income and property taxes without breaks. What do you think
The problem I find is that people that propose these types of policies don't really understand tax structures. I am hardly an expert myself, but I have spent a lot of time looking at this question.
Most people look at tax break and the $ associated with it and go "that's not right!"
So for example the exclusion of profit that is passed on to shareholders who then pay the tax. If you don't exclude this income, you are essentially double taxing profits.
And then there are carry back/carry forward loss provisions. Corporations, unlike people, can actually lose money. Usually individuals at worst just don't make money. To help smooth out the bang and bust cycle of the economy we let companies spread out their losses over time.
Then focusing on property tax here in Louisiana (every state is different) we tend to look at the industrial tax exemption (ITEP).
We totally overlook the enormous exemptions given to individuals (homestead and the very long list for people over a certain age, disables, veterans, etc). Half of the parishes in the state have half of their properties off the tax rolls because of these exemptions. Somehow that never gets discussed because that would mean raising our taxes rather than the taxes of some nameless "corporation."
Just as importantly, the property tax system is rigged against business from the start. They get a 50% markup on the value of the assessed property just because it is not a residential property (utilities get a 100% markup).
(I am leaving out a step here because it gets complicated) but if a residential property has a fair market value of $100,000 it gets assessed at $100k. If a commercial property has a fair market value of $100k it gets assessed at $150,000. Sound fair? You never hear about that do you?
So I tell you want. I would be happy to eliminate the ITEP IF we also eliminated the homestead exemption and went to a even playing field on assessed value.
But that won't happen because a lot of individuals (particularly the poorer home owners; renters might do OK) would pay more.
This post was edited on 8/15/20 at 10:33 am
Posted on 8/15/20 at 10:32 am to tigersfan1989
quote:
Property tax breaks is a big one
The concept of corporate taxes is easily the stupidest thing liberals have ever come up with
This post was edited on 8/15/20 at 10:33 am
Posted on 8/15/20 at 10:34 am to tigersfan1989
Exempt the property taxes the first 5 years or so but then collect after that.
Posted on 8/15/20 at 10:34 am to Jcpau
quote:
Remember Corporations do not pay taxes. It is passed on.
Are you being sarcastic? Serious question.
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