A new economic era?

[Scataphagos]

But the way its set up today, the rich think that they deserve every dollar their company earns and feel like nothing has to be paid back because its their brilliance that did it.

Disagree.

Corporations pay corporate tax rates just as citizens pay personal tax rates.

The "tax policy" for us includes collecting some from corporations. If the amount they pay isn't "just and fair", it's because the tax laws allow it. If one sees a problem, it's not the fault of the corporations but rather the laws engendered by the politicos (highly influenced by desires for campaign contributions).

America's tax system is not "fair". Many pay more than they "should", others pay less. The only fair tax is a flat tax, and we don't have that.

America is much about, "it's illegal to discriminate... about every condition you can describe"... gender, age, sexual orientation, color, religious beliefs, weight etc...except INCOME. It's OK to discriminate there... and it's wrong!

 

[NoahA]

Disagree.

Corporations pay corporate tax rates just as citizens pay personal tax rates.

The "tax policy" for us includes collecting some from corporations. If the amount they pay isn't "just and fair", it's because the taxs law allow it. If one sees a problem, it's not the fault of the corporations but rather the laws engendered by the politicos (highly influenced by desires for campaign contributions).

America's tax system is not "fair". The only fair tax is a flat tax, and we don't have that.

At least we agree its not fair.

The tax contributions of some corporations is a huge with all the offshore hiding of profits, even if it is legal. And lastly, if capitalism was to function properly without the Fed, many would have gone under, and many business owners who think they are smart would have already been wiped out. But these days, you have all this money created in order paper over these problems. You might say its to protect jobs, but all it really does is inflate assets which is what the rich have. The system is very much broken.

 

[Scataphagos]

At least we agree its not fair.

The tax contributions of some corporations is a huge with all the offshore hiding of profits, even if it is legal. And lastly, if capitalism was to function properly without the Fed, many would have gone under, and many business owners who think they are smart would have already been wiped out. But these days, you have all this money created in order paper over these problems. You might say its to protect jobs, but all it really does is inflate assets which is what the rich have. The system is very much broken.

Personally I think our tax system should be the same for every individual. That is, if there is an "exclusion" (say, for the first $30,000 income = no tax), then everybody should get that exclusion. Then above $30K, a flat tax of _____%. Everybody pays that. The rich would pay more, of course, as they have more income... but it wouldn't be proportionately more. America is much about "equality"... in many things.. but not in taxation. Yes, we're hypocrites! (Well, at least our politicos are.)

As for corporations... whatever flat tax is deemed appropriate... should be paid by all corps. None of this "hiding profits overseas to avoid paying taxes", BS.

 

[NoahA]

First a country has to have rule of law which protects private property. Then business acumen makes a country prosperous.

And sadly, the next step is the rich learn to take advantage of everyone else through their manipulation of the government.

 

[zdreg]

At least we agree its not fair.

The tax contributions of some corporations is a huge with all the offshore hiding of profits, even if it is legal. And lastly, if capitalism was to function properly without the Fed, many would have gone under, and many business owners who think they are smart would have already been wiped out. But these days, you have all this money created in order paper over these problems. You might say its to protect jobs, but all it really does is inflate assets which is what the rich have. The system is very much broken.

It is socialism for the rich. Watch the middle class in the private sector getting screwed over. The same has been true in Europe for decades. Bu the bourgeois have their self respect and moral superiority while getting their pockets picked.

 

[NoahA]

Personally I think our tax system should be the same for every individual. That is, if there is an "exclusion" (say, for the first $30,000 income = no tax), then everybody should get that exclusion. Then above $30K, a flat tax of _____%. Everybody pays that. The rich would pay more, of course, as they have more income... but it wouldn't be proportionately more. America is much about "equality"... in many things.. but not in taxation. Yes, we're hypocrites! (Well, at least our politicos are.)

Completely agree, and just this one change might make all the difference.

 

[bone]

Not unless there becomes a strong third party in US politics that can win general elections and is not beholden to Corporate interests and the wealthy elites.

 

[Scataphagos]

Completely agree, and just this one change might make all the difference.

Yeah, well, we're not likely to ever see that. "Progressive Taxation" is well known as a political tool of power and control. Our government is never going to give that up, sadly.

Our "tax return document" should fit onto a post card.

Our original "tax laws" were printed on 4 pages. Now the tax code is >70,000 pages... many of its provisions being "special carve-outs" for special/individual tax payers in reward for their contributions to political campaigns. How sick is that??

 

[zdreg]

And sadly, the next step is the rich learn to take advantage of everyone else through their manipulation of the government.

That is only possible if the rule of law is denigrated. e.g. laws of eminent domain in which gov't t
confiscates private property for private interests, who have best lobbyists and make the most bribes to the politicians.

 

[bone]

In the current political climate, those 95 million dollar compounds on the Hamptons waterfront are more likely to be owned by Democrats. The World’s wealthiest person identifies as a liberal Democrat.

I’m really not trying to denigrate Democrats, I’m simply pointing out that political affiliation is a vanity plate, and that the wealthy elite will always have their carveouts and exemptions regardless of which Party is in power.