Forget it, guys. You're never going to get any tax revenue or any justice out of the rich and headlines like this just make me want to scream anymore: Former Mueller Deputy Explains How Trump Could Get Nailed by Manhattan DA Investigation
One could say that taxes are really nothing more than the rent one pays for living in America. Its only fair that those who insist on living in luxury need to pay their share of the rent for their privilege.
First, we need an AMT for corporations. The rate isn't the issue, it's that many pay zero taxes. We also need to control CEO compensation and the gap between it and the lowest paid employees.
I suggest another angle: A Pay-Go system for corporate taxes: Any tax breaks for a particular industry must be offset by an increase in the corporate tax rate on all others. The CBO would score the impact of the break(s), then calculate the amount of increase for the next year to the corporate rate.
I would also like to see a corp tax break for a "B-Corp" status. Allowing corporations to abandon "shareholder value" as a fiduciary, and substitute measurable goals that take into account their employees, customers, and community/environment.
After the 2017 tax cuts, the share of federal revenue from corporate income tax dropped below 6% from a historic low at that time of 9%. In 2019, it dropped below 4%. So someone else has to make up the difference or services have to be cut. For the last few days my comments have addressed corporate short sightedness in making low taxes a major part of decisions on relocations and expansions. In most states, the result is cutting services. Meaning the schools, parks, roads, health care, and clean air and water that make a state appealing to employees start suffering. The states racing to cut corporate taxes are killing the goose that laid the golden egg. Try convincing a scientist, professor, or business exec to move their family to an area with poorly performing schools, crumbling roads, and no high speed internet.
Corporations can choose where to make their profits. Some, like Starbucks make no profits in countries with high tax by making them in countries with low tax. I forget the specifics but you get the idea: Starbucks UK buys everything it needs from Starbucks EU (who are based in Netherlands where taxes are lower). The prices are set at a level so that Starbucks UK, despite turnover in the 100s of millions, makes no profit in the UK so pays no tax here. Starbucks EU makes a profit from the sales to Starbucks UK, but only pays the lower Netherlands taxes. Starbucks Global comes out ahead because the costs of the jiggery pokery are more than offset by tax savings.
That was my idea, make corporations actually pay 21%, or very close to it by cutting deductions and loopholes. Then Biden can say he is not raising taxes because the maximum rate is still 21%. Maybe point out some of the more ridiculous tax writeoffs. Unfortunately, most of the loopholes are too complicated or esoteric for most people to understand.
Add a new reason to stay in California, not letting the state extort you with threats of selective taxation or regulation because you call out their racism.
At my company town hall where CEO is boasting about taxes saved by moving from USA to London. French guy asks why not move here? CEO says sure, if it saved on taxes....
Forget it, guys. You're never going to get any tax revenue or any justice out of the rich and headlines like this just make me want to scream anymore: Former Mueller Deputy Explains How Trump Could Get Nailed by Manhattan DA Investigation
Indeed!
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Dudley Dursley’s birthday in the Sorcerer’s/Philosopher’s Stone was obviously not exaggeration.
I don't know what fava beans are. I've never seen them in the store or on the menu. Are they ever used for any non-Soylent-Green meals?
One could say that taxes are really nothing more than the rent one pays for living in America. Its only fair that those who insist on living in luxury need to pay their share of the rent for their privilege.
Why is that?
First, we need an AMT for corporations. The rate isn't the issue, it's that many pay zero taxes. We also need to control CEO compensation and the gap between it and the lowest paid employees.
I suggest another angle: A Pay-Go system for corporate taxes: Any tax breaks for a particular industry must be offset by an increase in the corporate tax rate on all others. The CBO would score the impact of the break(s), then calculate the amount of increase for the next year to the corporate rate.
I would also like to see a corp tax break for a "B-Corp" status. Allowing corporations to abandon "shareholder value" as a fiduciary, and substitute measurable goals that take into account their employees, customers, and community/environment.
After the 2017 tax cuts, the share of federal revenue from corporate income tax dropped below 6% from a historic low at that time of 9%. In 2019, it dropped below 4%. So someone else has to make up the difference or services have to be cut. For the last few days my comments have addressed corporate short sightedness in making low taxes a major part of decisions on relocations and expansions. In most states, the result is cutting services. Meaning the schools, parks, roads, health care, and clean air and water that make a state appealing to employees start suffering. The states racing to cut corporate taxes are killing the goose that laid the golden egg. Try convincing a scientist, professor, or business exec to move their family to an area with poorly performing schools, crumbling roads, and no high speed internet.
Corporations can choose where to make their profits. Some, like Starbucks make no profits in countries with high tax by making them in countries with low tax. I forget the specifics but you get the idea: Starbucks UK buys everything it needs from Starbucks EU (who are based in Netherlands where taxes are lower). The prices are set at a level so that Starbucks UK, despite turnover in the 100s of millions, makes no profit in the UK so pays no tax here. Starbucks EU makes a profit from the sales to Starbucks UK, but only pays the lower Netherlands taxes. Starbucks Global comes out ahead because the costs of the jiggery pokery are more than offset by tax savings.
That was my idea, make corporations actually pay 21%, or very close to it by cutting deductions and loopholes. Then Biden can say he is not raising taxes because the maximum rate is still 21%. Maybe point out some of the more ridiculous tax writeoffs. Unfortunately, most of the loopholes are too complicated or esoteric for most people to understand.
Who knew quantum physics was so sex-obsessed?
Add a new reason to stay in California, not letting the state extort you with threats of selective taxation or regulation because you call out their racism.
I see corporate amerika has started pushing the "job creators" BS again.
We are so fortunate to have such benign oligarchs making jobs for us all.
I'm buying stock in Tiki Torches and pitchforks...
We can all call it that in sekrit!
As the Car Talk guys say, "It's the cheapskate who pays the most."
At my company town hall where CEO is boasting about taxes saved by moving from USA to London. French guy asks why not move here? CEO says sure, if it saved on taxes....