The Corporate Tax-Dodge Code

As a small business owner this just infuriates me! It's just like the thread about half the population in the US not paying any income taxes.

EVERYONE needs to pay something!!! EVERYONE should have some skin in the game.

We simply can not continue on, where only half the country pays taxes and big business doesn't pay anything.

Simplify the tax code please. It shouldn't take an PHD to figure out your taxes, or take 10,000 pages of tax laws to do corporate or personal taxes!

Hell I hate paying taxes as much as the next guy, probably more so cause I know the feds will just piss it away. BUT everyone should pay in at least something.

Flat tax makes the most sense to me. 5%, 15% 20% whatever the rate you come up with just set it and leave it alone. You don't need to have a ton of "loopholes" or crazy deductions. You make X then you have to pay ____%, you make 5X the next year, well that's great you still pay the same ____%, you make 1/2X the year after, great you still pay the same _____%

That is 100% fair to every single person who makes money. I'm sure mcbrett or some other left leaning poster will decide to tell me how racist and cold hearted I am now for wanting people/companies to actually have to pay something.
 
This is what you get when you let the corporations' lawyers draft the laws that regulate their respective industries... laws that take mountains of taxpayer $$ and privatize it.
 
"The government gets all their power from the unbelievably complicated tax code. Flat tax, fair tax, both are impossible. Federal politicians are purchased so they can give heavy donors tax loopholes. It's not a coincidence that both Bush and Obama's biggest contributors were banks." <<<<<<Ding, ding, ding, ding, ding, we have a winner.
 
I'm hearing you msdw24. I worked for a small business owner on the BP spill in Florida and he was telling me about the huge tax percentage that his company pays. I had no idea it was over 35%. That's insane.

I whole heartedly agree that everyone and every company should pay something. There is no level playing field when lawyers and lobbyists own the politicians. It's unbelievable how the US govt. changes the game and the rules all the time (accounting shennanigans, etc..) to suit the situation or latest crisis that they themselves created and expect small business owners to take it up the arse.
 
No, everybody doesn't pay sales taxes, or FICA taxes either.
Much merchandise is bought over the internet from other states, or from sham internet offices which can claim to be in another state, with the intent of paying no sales tax.
This puts all brick and mortar businesses at a disadvantage.
Many businesses claim no profits so the owners don't have to pay any FICA taxes. They pay them on employee's, but not on the owners.
If every corporation paid a lower rate, but actually had to pay the taxes, instead of avoiding them with lawyer lobbied loopholes and offshore accounting tricks, there would be a huge difference.
And it might even be fair.
 
Not that anyone cares, but this article could not be more selective and wrong about the Boeing tax situation. His whole entire premise is that "Boeing reported $5.1 billion in profit to its investors, as it did for 2011" This is blatantly false and a complete twisting of the truth to suit a point.
 
As much as I don't like the idea, wouldn't a VAT help to even things out? As long as, I know I know, we reduce taxes in other areas?
 
Not sure why you contend that statement in the blog is blantantly false. The information presented in the blog is based on a study conducted by the Citizens for Tax Justice, which reviewed 10K financial statements prepared by Boeing itself, as referenced in the link and attached document prepared/summarized by CTJ. If you contend that this is false (are you an accountant who works for Boeing?), then review the 10K financial statements yourself and argue with CTJ about their blatantly false and misleading statements regarding Boeings disclosure as presented in the "correct" Boeing 10K financial statements.
 
Personally, i think that investments should recieve preferential tax treatment, up to the point that they become you dominant form of income, ie your job. If that is the case then they should be taxed as regular income.

So if your just joe Q public then you can grow your wealth. That is a positive thing for all of us.

If your job is the daily management of your finances then you should pay taxes like it is your job.
 
So would revenue go up if the capital gains tax increased? I say no. The wealthy would just stockpile money overseas and not bring it back into the US. Meanwhile investment into US businesses would decline and innovation and growth of corporations would decrease. And the decrease in corporate growth and innovation would lead to lower job growth and an overall decrease in government revenue.
 
You know I agree with you for the most part. A lot of where we disagree is when we switch back and forth between reality today and what you would do "if you were king".

I do disagree with your opinion on the outcome of raising capital gains taxes, though. We are talking about investment in aggregate. People invest in things that they think are safe (not risky) and have high return. Americans don't put money into Mexican banks and currency because the investment is risky. The unwise who put too much money into Mexico because of high potential returns risk having Mexico devalue their currency among other things. On the other hand, Germany is considered a fairly safe investment. However, if you pay attention, you see people like Steffi Graf try to hide their money from the German government. In all, many europeans squirrel away capital in Luxembourg, Switzerland, and Monaco to avoid high tax rates.

So, if we want to maximize revenue and economic growth, raising taxes on investments probably isn't the answer. Investment in the US would still occur with higher taxes. It just would not be maximized and historically it seems to actually decrease government revenue. A flat tax would certainly help increase government funds, though.
 
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