The Reaganomics Fraud:

[mrplunkey]

From the link:


So, what's everyone complaining about? We should be more like Mexico?

That's an outstandingly deceptive statistic. Our corporate tax rate is the second-highest in the world (Japan is slightly higher).

In the US, we punish income producers with taxes. Then we punish the effective deployers of capital with additional taxes on top of that.

In Europe, more of the tax burden is implemented thought a VAT. We'd never pull that off here in the US, because it would shift the burden from the overtaxed income producers and spread it over consumers as a whole -- which is exactly how it should work. I can practically hear people like Mr. DB screaming now at even the suggestion that we punish consumption instead of production.

I'd be all for shifting the tax burden from producers to consumers. Sign me up!

 

[musclemom]

That's an outstandingly deceptive statistic. Our corporate tax rate is the second-highest in the world (Japan is slightly higher).

In the US, we punish income producers with taxes. Then we punish the effective deployers of capital with additional taxes on top of that.

In Europe, more of the tax burden is implemented thought a VAT. We'd never pull that off here in the US, because it would shift the burden from the overtaxed income producers and spread it over consumers as a whole -- which is exactly how it should work. I can practically hear people like Mr. DB screaming now at even the suggestion that we punish consumption instead of production.

I'd be all for shifting the tax burden from producers to consumers. Sign me up!

I don't understand something ... how can the producers be carrying the burden of the taxes when most of them don't even pay taxes? Or get refunds?

Put it this way, I think I represent a good segment of the "common man" when I see the list below and go "wha-huh?" When your total gross is just under $90k and nearly $20k is going into the feds pocket, then you see a corporation making billions and getting a refund something doesn't seem right

 

[billfred]

I don't understand something ... how can the producers be carrying the burden of the taxes when most of them don't even pay taxes? Or get refunds?

Put it this way, I think I represent a good segment of the "common man" when I see the list below and go "wha-huh?" When your total gross is just under $90k and nearly $20k is going into the feds pocket, then you see a corporation making billions and getting a refund something doesn't seem right

The problem is everyone is looking at the latest tax returns of corporations and saying they pay no tax when actually, over time, they pay plent of tax. Recent returns reflect huge losses they took as a result of the 2008/2009 meltdown.

Also, and Digi can vouch for this, very few people making under $60k pay taxes these days. This has to stop. EVERYONE has to have skin in the game. Otherwise, they could care less how much the government spends.

The worst thing about the Bush tax cut is not what it did to the higher tax brackets but what it did in the lowest income earners. It simply moved too big of a % of the population into a zero tax paying status.

 

[75th]

The problem is everyone is looking at the latest tax returns of corporations and saying they pay no tax when actually, over time, they pay plent of tax. Recent returns reflect huge losses they took as a result of the 2008/2009 meltdown.

Also, and Digi can vouch for this, very few people making under $60k pay taxes these days. This has to stop. EVERYONE has to have skin in the game. Otherwise, they could care less how much the government spends.

The worst thing about the Bush tax cut is not what it did to the higher tax brackets but what it did in the lowest income earners. It simply moved too big of a % of the population into a zero tax paying status.

People making below $60k pay plenty of taxes - not necessarily income taxes, but they pay plenty of taxes.

 

[billfred]

People making below $60k pay plenty of taxes - not necessarily income taxes, but they pay plenty of taxes.

Everyone needs to pay income taxes. How is that.

 

[PICK3]

I don't understand something ... how can the producers be carrying the burden of the taxes when most of them don't even pay taxes? Or get refunds?

karma tax credit from being over burdened in a past life

 

[mrplunkey]

I don't understand something ... how can the producers be carrying the burden of the taxes when most of them don't even pay taxes? Or get refunds?

Put it this way, I think I represent a good segment of the "common man" when I see the list below and go "wha-huh?" When your total gross is just under $90k and nearly $20k is going into the feds pocket, then you see a corporation making billions and getting a refund something doesn't seem right

Bill beat me to the right answer.

Let me add one thing: Look at #3 on that list -- GE. This is run by the guy who chairs Barry's council on jobs and competitiveness. It's good to have connections.

GE is among the best in the world at shifting jobs overseas, which makes him chairing the jobs council seem even funnier. Technically speaking, Barry didn't specify *which* country the jobs were being created in...

 

[75th]

Everyone needs to pay income taxes. How is that.

I agree - my point was that simply because they get an income tax refund at the end of the year doesnt mean they dont pay taxes through a few other means.

 

[mrplunkey]

Everyone needs to pay income taxes. How is that.

I'll second that.

Everyone needs to pay at something. And I'd go a step farther and link it to at least half of what the top bracket is set.

 

[mrplunkey]

I don't understand something ... how can the producers be carrying the burden of the taxes when most of them don't even pay taxes? Or get refunds?

Put it this way, I think I represent a good segment of the "common man" when I see the list below and go "wha-huh?" When your total gross is just under $90k and nearly $20k is going into the feds pocket, then you see a corporation making billions and getting a refund something doesn't seem right

$20/$90 = 22%

If anything, you aren't paying your fair share.