Can someone making $1 million a year afford a 5.87% tax increase?

[RKMBrown]

You republicans want the ceo to make 100,000,000 at the same time as the little guy doing the work gets 30,000.

You people stink!

Huh? Name one republican that wants "the ceo" to make "100,000,000" at the same time as the little guy doing the work "gets 30,000." Where do libtards come up with these random nonsensical bull shit statements?

 

[Ernie S.]

WOW! Got dyslexic!

Should have been

2012 - The last full year: Sales/Revenue 446.95B Income Tax 7.94B

WMT Annual Income Statement - Wal-Mart Stores Inc. Annual Financials

After cost of goods, salaries building casts etc, pretax income was 24.4B. 8 billion is 1/3 of that, isn't it?

In making an apples to apples comparison you have to use effective. Anything else would be deceptive.

Because it wouldn't show WalMart to be paying too little in taxes?

If we are to accept your claims, which I seriously doubt, How did you manage just 3% of your gross paid in taxes if you didn't deduct expenses?

You really expect a retailer to pay taxes on money it spent to purchase stock and pay salaries?

 

[OnePercenter]

After cost of goods, salaries building casts etc, pretax income was 24.4B. 8 billion is 1/3 of that, isn't it?

In making an apples to apples comparison you have to use effective. Anything else would be deceptive.

Because it wouldn't show WalMart to be paying too little in taxes?

If we are to accept your claims, which I seriously doubt, How did you manage just 3% of your gross paid in taxes if you didn't deduct expenses?

You really expect a retailer to pay taxes on money it spent to purchase stock and pay salaries?

Walmart and I have some very good subsidies.

Again, In making an apples to apples comparison you have to use effective. Anything else would be deceptive.

Some would claim were the number one in corporate tax rate. But based on ACTUAL TAXES PAID, we're 16th.

 

[bripat9643]

WOW! Got dyslexic!

Should have been

2012 - The last full year: Sales/Revenue 446.95B Income Tax 7.94B

WMT Annual Income Statement - Wal-Mart Stores Inc. Annual Financials

Revenue is not the same thing as income, bonehead. You don't calculate income tax based on revenue.

 

[Iceman]

Can you imagine what the average citizen would have in their SS account if the Bush proposal to privatize 10% of SS contributions for investment into the market would amount too?

The Dow hit 16,000 today and anyone that would have been dollar cost averaging into the market for the last 5 years would have made a lot of money.

I know, because I did that with my own money.

Imagine someone retiring in November 2008 and their entire SS "portfolio" decimated by the market collapse!

Why would a 66 year old have their entire portfolio in stocks?

And why would anyone sell all their stocks at the absolute bottom? If you held onto those stocks through the correction in 2008, you would have made back your money and then some(quite a bit now, lol).

Derideo is an idiot.

 

[OnePercenter]

WOW! Got dyslexic!

Should have been

2012 - The last full year: Sales/Revenue 446.95B Income Tax 7.94B

WMT Annual Income Statement - Wal-Mart Stores Inc. Annual Financials

Revenue is not the same thing as income, bonehead. You don't calculate income tax based on revenue.

Revenue IS income.

 

[RKMBrown]

WOW! Got dyslexic!

Should have been

2012 - The last full year: Sales/Revenue 446.95B Income Tax 7.94B

WMT Annual Income Statement - Wal-Mart Stores Inc. Annual Financials

Revenue is not the same thing as income, bonehead. You don't calculate income tax based on revenue.

Revenue IS income.

No, revenue is not income.
Roughly corporate income = revenue - expenses. Expenses like their cost of goods & payroll. You've been told this three times in this thread. Why so stupid?

 

[OnePercenter]

Revenue is not the same thing as income, bonehead. You don't calculate income tax based on revenue.

Revenue IS income.

No, revenue is not income.

https://www.google.com/search?q=rev...a:en-US:official&client=firefox-a&channel=rcs

 

[RKMBrown]

Revenue IS income.

No, revenue is not income.

https://www.google.com/search?q=rev...a:en-US:official&client=firefox-a&channel=rcs

Why act so stupid? Corp tax is not paid on revenue , in contrast to what you keep indicating. It is paid on income which is revenue minus expenses. So what if you can find a site that introduces the term net income? You are being obtuse. Your stupid post compared revenue to tax. It was a ridiculous statement.

 

[OnePercenter]

No, revenue is not income.

https://www.google.com/search?q=rev...a:en-US:official&client=firefox-a&channel=rcs

Why act so stupid? Corp tax is not paid on revenue , in contrast to what you keep indicating. It is paid on income which is revenue minus expenses. So what if you can find a site that introduces the term net income? You are being obtuse. Your stupid post compared revenue to tax. It was a ridiculous statement.

Who's acting stupid? Certainly not me.

 

[freedombecki]

Capita gains and corporate taxes needs to be a SOLID 25% for all businesses making over one million a year.

Anything less is bull crap!

You HAVE to be the most naive person on the board. Do you even know who pays corporate taxes? The consumer, you idiot. If you add 25% to the cost of business, you add 25% to the price of its goods or services.

B-b-b-b-b-but inflation is just a bat in the dark, a real mystery, unexplainable... and at least Obama pushed US Manufacturers to make their products smaller to conceal inflation and not cause any panic among the masses. Isn't he a hero?

 

[freedombecki]

Can you imagine what the average citizen would have in their SS account if the Bush proposal to privatize 10% of SS contributions for investment into the market would amount too?

The Dow hit 16,000 today and anyone that would have been dollar cost averaging into the market for the last 5 years would have made a lot of money.

I know, because I did that with my own money.

Imagine someone retiring in November 2008 and their entire SS "portfolio" decimated by the market collapse!

Why would a 66 year old have their entire portfolio in stocks?

Dementia.

 

[Derideo_Te]

Imagine someone retiring in November 2008 and their entire SS "portfolio" decimated by the market collapse!

Why would a 66 year old have their entire portfolio in stocks?

Dementia.

Difficult enough for people in their prime to manage their stock portfolios. Unless you are a professional it is like going to Vegas in my opinion. Pension plans used to be managed by professionals but now we expect rank amateurs to do it. Then PBS asked a CEO if he would allow the mailroom guy to manage the CEO's 401k the CEO was shocked at the suggestion. But he expects the mailroom guy to manage his own 401k. The 401k ponzi scam is going to come down hard on the Boomers as they start retiring in greater numbers and discover that their 401k "investments" are a mere fraction of what is needed. They would have done better sticking the funds under their mattress. And with inflation now creeping in the "retirements" of many Boomers are going to be less than ideal. The big headache though is going to be political because retirees are the largest voting bloc of all and this is a bipartisan issue.

 

[bripat9643]

WOW! Got dyslexic!

Should have been

2012 - The last full year: Sales/Revenue 446.95B Income Tax 7.94B

WMT Annual Income Statement - Wal-Mart Stores Inc. Annual Financials

Revenue is not the same thing as income, bonehead. You don't calculate income tax based on revenue.

Revenue IS income.

Wrong, moron. Income is revenue minus expenses.

God are you stupid.

 

[bripat9643]

https://www.google.com/search?q=rev...a:en-US:official&client=firefox-a&channel=rcs

Why act so stupid? Corp tax is not paid on revenue , in contrast to what you keep indicating. It is paid on income which is revenue minus expenses. So what if you can find a site that introduces the term net income? You are being obtuse. Your stupid post compared revenue to tax. It was a ridiculous statement.

Who's acting stupid? Certainly not me.

Yes you. Learn some simple terms, like the meaning of the word "income."

 

[bripat9643]

No, revenue is not income.

https://www.google.com/search?q=rev...a:en-US:official&client=firefox-a&channel=rcs

Why act so stupid? Corp tax is not paid on revenue , in contrast to what you keep indicating. It is paid on income which is revenue minus expenses. So what if you can find a site that introduces the term net income? You are being obtuse. Your stupid post compared revenue to tax. It was a ridiculous statement.

OnePercenter is a good example of the reason democracy is doomed to blow up. Here's somebody that supposedly educates himself on the issues, but doesn't understand a simple economic concept like "income."

 

[P@triot]

U.S. corporate tax rate poised to become highest - Mar. 27, 2012

Another Study Confirms: U.S. Has One of the Highest Effective Corporate Tax Rates in the World | Tax Foundation

World's Highest Corporate Tax Rate Hurts U.S. Economically - Economic Intelligence (usnews.com)

Oops! Would you like to try again?

Don't need to.

In 2012, Apple paid 12% effective Federal tax domestic and foreign sales.

In 2012, Walmart income was 774B and paid 7.3B in taxes. Care to do the math?

In 2012, my portfolio which is a Nevada corporation paid 3% effective federal tax.

If you believe that Americans businesses pay high taxes, YOU ARE A CHUMP!!!!

Highest corporate tax rate in the world. Simple, undeniable FACT.

Would you like to try again?

 

[P@triot]

Capita gains and corporate taxes needs to be a SOLID 25% for all businesses making over one million a year.

Anything less is bull crap!

Capita gains tax, corporate taxes, and personal income tax needs to be a SOLID 10% across the board AND all other taxes (gas tax, sales tax, property tax, etc.) needs to be repealed.

Anything less is bull crap![/QUOTE]

 

[WillowTree]

Social Security proposals are wrongheaded - The Washington Post

For someone earning $1 million, the tax increase would be $58,700.

The options are keeping Social Security solvent or allowing those making $1 million a year to keep 5.87% of their pre-tax earnings.

Seems like a small enough increase for the long term benefit of the nation to a fiscal conservative like myself. And yes, I will personally pay more in taxes if this passes. But having a stable future for this nation means more to me than this paltry amount. If anything it is cheap at the price.

What is even more attractive is that it is a flat tax, something that fiscal conservatives have been advocating for ever since the Reagan era.

Besides the kneejerk opposition to any tax increase what are the legitimate objections to a reasonable and effective solution of this modest nature?

Didn't the millionaire just have their taxes raised? Let's get all Americans to pay a share first then talk about raising the taxes on the millionaires. There is no good reason to let 50% of the people pay so the other 50% get a free ride.

 

[zeke]

U.S. corporate tax rate poised to become highest - Mar. 27, 2012

Another Study Confirms: U.S. Has One of the Highest Effective Corporate Tax Rates in the World | Tax Foundation

World's Highest Corporate Tax Rate Hurts U.S. Economically - Economic Intelligence (usnews.com)

Oops! Would you like to try again?

Don't need to.

In 2012, Apple paid 12% effective Federal tax domestic and foreign sales.

In 2012, Walmart income was 774B and paid 7.3B in taxes. Care to do the math?

In 2012, my portfolio which is a Nevada corporation paid 3% effective federal tax.

If you believe that Americans businesses pay high taxes, YOU ARE A CHUMP!!!!

Highest corporate tax rate in the world. Simple, undeniable FACT.

Would you like to try again?

Fucking stupid dog. If a government tells a corporation that their taxes will be based on 35% with no deductions, you would be correct.

But it ain't like that now is it?

When it is all said and done and the tax accountants get done pencil whipping those corporate returns, taxes paid by American corporations is no where near the top of the list.

But you should already know that. Why don't ya?

Or at least post up your reputable info that shows American corporations, after deductions, losses, write offs etc, paying the highest corporate taxes in the world.

Should be a piece of cake for a dog like you.