Tax Reform?


#243

Hillary wanted to raise taxes on all of you too. She was calling for higher income tax rates. The top 10-20% are going to pay more. They’re already the only people paying a meaningful effective tax rate. It’s political suicide to raise taxes on the bottom 50% who pay a 3% effective rate. They can’t anger that many voters. The government needs money to pay for all the programs some how. If you want to pay less taxes, then advocate for cutting programs that cost the most money.


#244

So, these companies in BA were established here in spite of high corporate taxes? :slight_smile:

Is Google still buying offices in SJC? FB in SFO? + others…?


#245

They’re also opening offices in foreign countries. What percent of that foreign work force would be in the US if tax laws were different?


#246

#247

ZERO:slight_smile: :slight_smile:

Ok that is as much of a serious answer as yours. :slight_smile:

My serious answer is below. This answer has been replied to(by others) and replied back/refuted (by me), so let’s not get back into that unending cycle again. People who are interested can follow that complete chain of comments.


#248

I knew I was screwed with Hillary… Now Trump is doing it without Vaseline


#249

Did you see the analysis of tax cuts that was posted? I can’t remember which thread. The revenue lost from reducing corporate tax rates was more than offset by eliminating/reducing corporate tax deductions/credits.

Do you think the rest of the country feels sorry that top 10% is only middle class in the bay area? They’ll vote all day long for those people to pay more taxes and probably cheer while doing it.

I was serious about the job creation thing. If a company has profits in other countries, it’d have to pay US taxes to bring them back. It makes more sense to start spending/investing in that country. They’ll get to keep and use more of the money. It’s why so many tech companies have offices in Ireland.


#250

This is what I have refuted/stated(off the top of my head) so far:

  1. Reagan Tax cuts DID NOT lead to rise in salaries for non supervisory roles.
  2. Food stamps under Obama rose much lower than under GW Bush.
  3. Economy is up due to Obama administration & not due to zilch done by Trump administration.
  4. Trump is a failed businessman & he is incapable of providing a vision for USA to lead in terms of business, innovation or economy.
  5. Most of the coastal Blue states contribute more in taxes to the Federal Govt than they take in unlike the midwestern & Southern Red states. Hence, whether the rest of the country feels sorry or not, they talk of lower taxes while getting subsidized by those blue coastal states.
  6. I’m for lower corporate taxes(I just said that on my LAST post, but again the same argument was repeated back to me … :smile:)
  7. 20% corporate tax rate NOT ON MY BACK . Get the corporate tax rate up to 22%(lower corporate tax right? than 35% at present) & keep SALT + mortgage deductions
  8. Corporate CEOs when asked by Gary Cohn if they would do capital investments in the US in light of lower corporate taxes were reluctant to raise their hands…
  9. etc
  10. etc…

Anyways… I’m sure another infinite cycle is coming back soon.


#251

Very Informative Video - Please watch everyone


#252

@Roy321 I hate to tell you but the majority of the country thinks people in the bay area should pay more taxes, and they’ll vote accordingly. They don’t care that those people are already paying a ton of taxes. They don’t care that the top 10% are paying an 18% effective rate and the top 1% are paying 28%. The people don’t care that their own effective rate is 3% or less. In their mind, the issue is that your effective tax rate isn’t higher. They are a majority, and they feel entitled to your income with the government as a middle man to redistribute it.

There’s no way the public will agree to a reduction of benefits to lower spending… In their minds, the only solution is higher taxes on those that can afford it.


#253

Yes.
We know who promotes that, the going around, deflecting topics that don’t fit his nonsense agenda of making somehow Obama the bad guy.


#254

I was watch CNN actively when I believed the Hype of Hillary win ! Rest history…I do not trust CNN thereafter…They are always skewed and partial against Trump. Anything Trump does, CNN will have set of advisers to conclude Trump or Rep is wrong.

When we understand Amazon provides products at low cost, we buy from them, similarly any store. When company feels USA is higher tax, they move out keeping sales office and declare revenue wherever lowest tax is applied to them.

Apple is standing example hoarding 100 bln abroad. SimilarlyTrillions are hoarded by many companies and every year after companies are moving revenue out of USA.

USA, for a longer and steady growth needs to reduce its corporate tax structure just below the average world wide corp tax rate. This is what Trump is doing and will bring wealth to USA in next 3 to 5 years. This is one of the historic changes US Corporate deserves !


#255

No company will openly declare their secret money hoarding techniques…Every CEOs and CFOs are targeted and grilled by senators and house of representatives by many governments.

But, every one know 100 billions are abroad and the main source of issue is high corporate taxes.


#256

CNN=Fake news huh??

What are you watching nowadays? Fox? :smile: (Just joking no hard feelings)

Based on recent past experiences(of tax cuts or tax repatriation) by previous administrations, the above expectations are fairy tales at best. Sometimes drugs or alcohol do provide a few hours of nice pleasant fairy tales(in our minds) till it’s time to wake up. :slight_smile:

The facts has been provided already to this(on this thread). I don’t want to belabor the same point so I’ll leave it at that.


#257

So, Obama’s job is seen here. The bay area recovered after being hit by the recession. We saw home prices falling beyond belief. We recovered, no doubt about it, Google, Apple, you name the industry is doing very good! But now, the dumb in the white house wants to punish ‘THE LOCALS’ by cutting some deductions, hurting the real estate industry. I wonder who here is investing in Real Estate? :face_with_monocle:

Like elt1, I would say that what is not broken, why trying to fix it?

We are doing good in the Bay Area, everybody is making money, those who don’t believe it, welcome to exit the state.

And thank Obama before the doors hit you on your way out.


#258

Again, I am going to support elt1 on this one.

Whoever is going to benefit from this mess is not in this forum.

Those who are going to be hit, are just reading, some are so naïve to pretend this is good and they are quiet, others, cheering what most America says is bad, no good. They don’t want it. Voters matter.


#259

Gee!

It’s incredible!

I never thought seen some people calling themselves conservative trying to raise taxes on corporations. In my world, and based on past debates and experiences, they were/are called…communists.

Putin is awaiting your arrival comrade! :joy:


#260

CNN=Fake news huh??

What are you watching nowadays? Fox? :smile: (Just joking no hard feelings)

Ok, I watch neither CNN (Pro-Dem), nor Fox (Pro-Rep), read WSJ for stocks and how companies are working/declaring profits.

Based on recent past experiences(of tax cuts or tax repatriation) by previous administrations, the above expectations are fairy tales at best. Sometimes drugs or alcohol do provide a few hours of nice pleasant fairy tales(in our minds) till it’s time to wake up. :slight_smile:

This clearly shows past reductions were not correct or not addressed core issue.


#261

Over and out…


#262

Ha ha ha ! My bad, we both are supporting same !

Personally, I long for it, I hate republican or Trump reducing it. I do not support SALT removal and Mortgage deductions at all.

If this Mortgage deduction is reduced to 500k, I will refinance rental properties (fully paid off) and pay of my primary mortgage.

Or I will turn my primary into rental and then buy a new primary full cash.

But, personally, SALT removal is a major blow on my tax filing.