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Leftists, does the solution to all of our problems remain “tax the rich” until further notice?
Question by Patches O’Houlihan: Leftists, does the solution to all of our problems remain “tax the rich” until further notice?
If so, you can stop screaming it, together with the nonsense that “the rich”, who already pay the lion’s share of income taxes, need to pay their “fair share”. The adults have heard your shrill rhetoric. Which reminds me, what is their “fair share” exactly? For some reason I can never get a specific answer.
Best answer:
Answer by Forget War Buy More
Of course not.
But the converse solution isn’t relevant either.
Now that this is out of the way, let’s talk about a cogent fiscal plan.
Give your answer to this question below!
You ask, “What is their fair share?” It’s more than “zero”.
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How Big Business Evades Taxes
EDITOR’S NOTE: As states and municipalities reel from service cutbacks caused by lower tax earnings, big corporations pay virtually no taxes on huge profits. They do it though elaborate “shell” games.
Were you stunned by the revelation, days before your taxes are due, that nearly two-thirds of companies operating in America reported owing no taxes from 1996 through 2000? That over 90 percent of large corporations — with at least $ 250 million in assets or $ 50 million in gross receipts — reported owing taxes of only under 5 percent?
The law requires firms to pay 35 percent tax on U.S. profits. Had big business complied, corporate income taxes in 2002 would have been $ 308 billion instead of only an estimated $ 136 billion. Do you wish you knew the corporate secret?
Is your town or state suffering from service cutbacks because tax revenues are down? Would you like to cut your tax bite from the current 15 to 35 percent to 5 percent or zero? How do corporations do it?
The General Accounting Office report, commissioned by Senators Carl Levin (D-MI) and Byron Dorgan (D-ND) and released April 5, gave a clue to how. It’s called “transfer pricing,” or improperly shifting income to lower-tax countries.
Firms set up offshore “subsidiaries” which, on their books, perform functions that let them cut onshore taxes. They may sell their own “logo” to the subsidiary and then pay a high price to “rent” it back, deducting “rent” as expense. They may move money to the subsidiary and “borrow” it back, deducting interest payments. If several of their subsidiaries are involved in a deal, the firms may grossly inflate profits assigned to those in offshore tax havens, which levy no or minimal taxes on “profits” claimed there.
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LikeDislikeIf they took all the rich peoples money, there would still be leftist morons
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LikeDislikeNO it has been changed to “eat the rich” for some time now.
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LikeDislikeIt Does Not Matter How Much Taxes Are Raised
The Liberal Will Blow Every Dime Of It
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LikeDislikeWell, as long as working folks pony up @ 37% of their incomes in effective taxation (ALL taxes and fees as a percentage of income), and the rich only have to pay 16.7 % of their incomes in effective taxation, that will remain a viable solution. Not that the rich would EVER pay their fair share…
You want specificity? How’s about all Americans pay the exact same effective tax rate. The burden would then be equalized.
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LikeDislikeRich people in this country pay jacksh!t compared to Sweden, UK, and even Canada.
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LikeDislikeThe rich have been punished enough, they have made us all jobs and they should keep all the hard earned cash their workers make them. Tax the greedy middle class and poor!!! No more weathly class oppression!!
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LikeDislike“The RIch” are SUPPOSED to pay the lionshare of the tax burden, but don’t due to endless loopholes. Same can be said for corporate tax earnings.
This country has a history of asking the “Haves” to step u pin the name of patriotism and contribute more. THat is precisely what is being asked of them now. Even a 0.5% increase in their tax rate would generate incredible income.
I also think legalizing and taxing the living-hell out of pot would almost single-handedly rescue the economy.
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LikeDislikeMan, you’ve been drinking to much of the tea party kool aid.
The rich don’t pay near the taxes of the middle class. They don’t pay SS taxes on most of their income and most of their income comes from investments that are taxed at a much lower rate than wages.
I wish there were some educated conservatives on this site.
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LikeDislikeThe rich should pay their fair share for living in a country where they can become rich. Rich people that threaten to move or become citizens of another country to avoid US taxation should have all their wealth confiscated.
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LikeDislikeWell, don’t forget “kill the babies” until further notice.
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LikeDislikeFirst off everyone needs the basics of life: food, shelter, health care.
After that tax it until its paid for.
The “rich” make their money off the poor.
Nobody needs 5 homes at over a $ 1,000.000 each, they can have them, but tax each house at a higher rate (although their tax guy will beat it somehow )
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LikeDislikeI doubt milking a handful of rich “fat cats” is going to solve all of our budget problems. Most people that are considered “rich” don’t just have money sitting all over they can dance around naked in. Anything a rich person spends money on goes back into the economy. Even if they keep it in a bank, that money can be loaned out and help businesses grow and create jobs. Most rich people’s assets are tied up in investments and property that can be resold – but it’s already been paid for. I don’t understand what more money there is, where it will come from, and what good it will do. if you tax the rich more, they spend their money on fewer goods, and jobs are still lost. I don’t even think this “money” everyone says the rich have even exists. I think they’re just looking for someone to blame for their problems. I want to know what the REAL problem is, and what we need to do to fix it.
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LikeDislikeWhile we know it only compounds the problem to the left it is their only solution, as cutting spending is not part of their agenda
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