Tax Reform?


#223

Your money is going where it gets spent and that’s increasingly on social programs. If the government didn’t spend so much, then they wouldn’t need so much tax revenue. Blame the ones spending money they don’t have.


#224

I’m pretty sure you voted for Trump. It explains why you’re so crazy about what he’s doing.


#225

Expanding on what I just wrote on corporate taxes, it would be easy to legislate. Give companies a 7.5% tax cut for leaving less than 5% of their money overseas and another 7.5% tax cut for using 25% of their reserves or more to create jobs here in America. It would be easy enough to write a bill that does that. The problem would be finding enough workers for all the new jobs!


#226

The issue is tracking and enforcement of it all. The IRS already claims they are understaffed to enforce the tax laws. We need less complexity not more. I’d rather we just get rid of all the BS and tax companies 2% of revenue in the US. It’s super simple, easy to enforce compliance, and eliminates a ton of the games and special interests around deductions and credits. It’d be roughly revenue neutral to today’s system. I’m sure companies would be able to save 1-2% in headcount costs from how simple the system would be.


#227

Same as you voted for Obama. You get so excited talking about him. :smiley::smiley::smiley::smiley:


#228

LOL…some guy here is poorly educated even though he likes to berate others for not reading.


#229

How does that change the conclusion? Even the article you posted had the same conclusion. The US corporate tax rate is too high. Whether it’s #1 or #4 doesn’t change the conclusion.


#230

He does not understand ! :rofl:


#231

Oh boy! That piece of crap Jil brought said “the highest”. Are you dummy?

It is not the highest!


#232

Here dummy!

From that article: The U.S. has the highest corporate rate in the developed world, whose average is 25%.


#233

Do you consider UAE, Comoros, Puerto Rico are developed world like USA, UK, France, Germany, Japan…?


#234

I knew you would take that course, I am always a step ahead. Same as in my IUL illustration you don’t pay attention to details, just to whatever fits your disagreement with the topic, perhaps you don’t believe what you see because is new, or ignorance, nothing wrong, I am an ignorant in so many things. I am guilty of the same mistake but I try to pass that threshold.

OK. Isn’t Puerto Rico, Virgin Islands, Saint Maarten, in the US? France is there in the graphic. They should belong to the developed world, right?

You know, PR and Virgin Islands, where people are still without any water, and electricity, where they got their president tossing them bundles of paper towels instead of food and water?

One thing is for sure, it’s all about semantics, most of Americans will read the report as “the US has the highest taxes in the world”, and that’s not true because if we take in consideration that countries belonging to the third world have high taxes, why are they not BKd yet?


#235

Lol, there’s a reason you’re avoiding the life insurance topic. I guess it’s good you post such non-sense. It’s good to laugh at.


#236

Deflecting again?

I said it, I don’t want to waste my time with ignorant people!


#237

But note that Ryan’s tweet says she gets this $700 tax refund “every year under our tax bill.” That’s not correct for three reasons.

First of all, House Republicans adopted a different inflation rate for calculating changes in tax rates, which over time will increase taxes (and thus eat away tax refunds). Second, the personal/dependent exemptions, eliminated under the bill, currently increase over time because they are inflation-adjusted but the replacement credits are not, so the value of the credits dilute over time.

Finally, in order to fit a tax wish list into a budget box that reduces the deficit by $1.5 trillion over 10 years, Republicans decided that certain tax items would expire before the 10-year window closes.

The $300 tax credit actually expires relatively quickly — at the end of 2022. So by 2027, Cindy’s $700 extra in taxes dwindles to about $200.

(In theory, her daughter also would no longer qualify for the $1,600 tax credit in 2023, once she turns 17.)


#238

lol. In either scenario, the person pays zero income taxes. Not only that, they get a check from the government for tax credits. Excuse me while I don’t feel sorry for people paying zero income taxes. I feel even less sorry for people that get a check due to tax credits. How do you “cut taxes” on someone who already has a negative income tax rate?


#239

Trump is pandering to corporations and the toothless masses. We in the middle are getting squeezed… The vast majority of employers are small business… Corporations don’t help.


#240

What’s your definition of middle? 90% of people will be better with increased standard deduction than itemization. That means the middle is better off with this. It’s only the top 10% where it might be worse depending on the situation.


#241

The top 10% of the US in the BA is middle class . Sorry I don’t care about the rest… Trump will screw them in due time. After he has done it to us… We didn’t vote for him anyway… So all we can do is whine… The fate of everyone in this forum is sealed. I am planning an exit strategy…
1031 to Nevada


#242

You say toothless, but they kill the entire economy !

See biggest USA corporation, AAPL is hoarding 200 Billion outside of USA. Slowly all offices will go out USA except sales office.

Companies needs to bring back money to USA and put up as many as projects so that locals get benefited.

Since Google, Facebook and other companies came to RBA, we see big real estate jumps in Redwood City, Menlo park, Mountain view and Sunnyvale.

If they are not formed, we would not have recovered from 2008-2011 fall.

If every company drives similar, entire bay area becomes Detroit, no one will have job.