Dems getting tax-hike anxiety

[Penelope]

It didn't kill any jobs. Most corps didn't pay it at all.

.

55 Corporations Paid $0 in Federal Taxes on 2020 Profits

At least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year despite enjoying substantial pretax profits in the United States. This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations, and it...

itep.org

Not Most you nit-wit ...
Here is a list of the 55 Corporations that didn't pay anything in taxes.
It's from the Institute on Taxation and Economic Policy

.​

That only proves the Loopholes have to be axed, the republicans want those loopholes.

 

[Penelope]

But congressional Republicans themselves had a hand in the spike, stock analysts say. Legislation they championed — the 2017 Tax Cuts and Jobs Act — doled out nearly $150 billion in corporate tax savings in 2018 alone. One effect: a big boost in stock prices.

Cutting tax rates for companies like Apple and hundreds of other stocks they own was one of many ways Republican lawmakers enriched themselves after they passed the tax law, according to a Center for Public Integrity analysis of the 186-page law and members’ financial disclosure forms. Democrats also stood to gain from the tax bill, though not one voted for it; all but 12 Republicans voted for the tax bill.
snip

Assets of 10 richest Republicans on Senate Finance and Budget committees who voted for the 2017 tax act​

Republicans passed tax cuts — then profited

When the price of Apple stock hit a then-record high in October 2018, among the shareholders counting their gains were 43 Republicans in Congress, who collectively owned as much as $1.5 million worth of the tech giant’s shares. Apple’s stock jumped 37 percent in its run-up to that record...

publicintegrity.org

 

[BlackSand]

That only proves the Loopholes have to be axed, the republicans want those loopholes.

.

You and I have already covered that ... Congress is the body that establishes the loopholes.
They are in no way restricted to Republicans in creation, passage, or use.

You are expecting the people you elected that keep putting the loopholes in the law, to remove what they didn't have to put in there in the first place.

I understand that is not the way you think, or what you want to believe,
But then again, we have already established that what you believe isn't true in the first place.

.​

 

[BlackSand]

It is not just the Dems who are caught between a rock and a hard place it is the nation.

The US is in bad need of infrastructure improvements and repair but we are are 30 trillion dollars in debt.

Do we raise taxes to pay for infrastructure repair or do we just kick the can down the road and make the repairs without raising taxes?

Sooner or later the piper will be paid, either through taxes or inflation.

.

Nothing forbids State and Local Governments from spending whatever money they want to improving their infrastructure.

Except maybe the States that are smart enough to have Balanced Budget Amendments or Requirements in their State Constitutions ...
And they simply don't have the money their dreams require.

.​

 

[BlackSand]

But congressional Republicans themselves had a hand in the spike, stock analysts say. Legislation they championed — the 2017 Tax Cuts and Jobs Act — doled out nearly $150 billion in corporate tax savings in 2018 alone. One effect: a big boost in stock prices.

Cutting tax rates for companies like Apple and hundreds of other stocks they own was one of many ways Republican lawmakers enriched themselves after they passed the tax law, according to a Center for Public Integrity analysis of the 186-page law and members’ financial disclosure forms. Democrats also stood to gain from the tax bill, though not one voted for it; all but 12 Republicans voted for the tax bill.
snip

Assets of 10 richest Republicans on Senate Finance and Budget committees who voted for the 2017 tax act​

Republicans passed tax cuts — then profited

When the price of Apple stock hit a then-record high in October 2018, among the shareholders counting their gains were 43 Republicans in Congress, who collectively owned as much as $1.5 million worth of the tech giant’s shares. Apple’s stock jumped 37 percent in its run-up to that record...

publicintegrity.org

.

Tax cuts aren't a loophole, and it is not a mystery or secret the Democrats don't want people to keep their money.

.​

 

[Mac1958]

Looks like Biden is bending quite a bit, but I don't think the GQP is allowed to give an inch on anything:

Biden gives Republicans counteroffer on tax hikes to pay for infrastructure

The president offered a menu of tax increases that wouldn't reverse any of the changes Republicans made in 2017.

www.nbcnews.com

Biden floated a 15 percent minimum corporate tax and tougher enforcement on the highest earners, said a source familiar with the meeting. The proposal is part of an effort to prevent corporations from using tax breaks and loopholes to effectively eliminate their tax burden, the source said.

The list also included eliminating the "stepped-up basis," which addressees the tax value of inherited properties, and eliminating some fossil fuel incentives in the tax code.

/----/ You do realize corporations pass taxes on to the consumer in the form of higher prices --- you big dope.

... which has nothing to do with my post.

 

[Mac1958]

Biden and the Dems find themselves between the proverbial rock and a hard place.

Biden clearly wants to go big on infrastructure and plenty of other spending, but some moderate Democrats appear to be getting cold feet on increasing personal income taxes to pay for it. If they massively increase spending and allow it to just add to the deficit and debt, they're no better than the GQP in that area.

Dems start to get tax-hike anxiety

President Joe Biden’s proposed tax increases are another breed, focused on people making over $400,000 a year.

www.politico.com

With all the abject madness saturating our politics from the looney wings, we may (please note bold italics) end up seeing the sane and brave moderates from both parties saving us from the abyss.

It is not just the Dems who are caught between a rock and a hard place it is the nation.

The US is in bad need of infrastructure improvements and repair but we are are 30 trillion dollars in debt.

Do we raise taxes to pay for infrastructure repair or do we just kick the can down the road and make the repairs without raising taxes?

Sooner or later the piper will be paid, either through taxes or inflation.

If the Dems want the spending, they have to suck it up on taxes. Doing things like the former guy didn't won't cut it.

 

[Votto]

Biden and the Dems find themselves between the proverbial rock and a hard place.

Biden clearly wants to go big on infrastructure and plenty of other spending, but some moderate Democrats appear to be getting cold feet on increasing personal income taxes to pay for it. If they massively increase spending and allow it to just add to the deficit and debt, they're no better than the GQP in that area.

Dems start to get tax-hike anxiety

President Joe Biden’s proposed tax increases are another breed, focused on people making over $400,000 a year.

www.politico.com

With all the abject madness saturating our politics from the looney wings, we may (please note bold italics) end up seeing the sane and brave moderates from both parties saving us from the abyss.

I support tax increases to pay for spending. Nothing is free, and tax rates, particularly on million/billionaires and megacorporations are ridiculously low.

But taxes are never used to pay for things. That is the whole point.

Americans have grown accustomed to increasing debt without using taxes to pay for it because everyone wants something for free.

Trouble is, nothing is for free, and Americans will soon find out the error of their ways I'm afraid.

 

[Votto]

Biden and the Dems find themselves between the proverbial rock and a hard place.

Biden clearly wants to go big on infrastructure and plenty of other spending, but some moderate Democrats appear to be getting cold feet on increasing personal income taxes to pay for it. If they massively increase spending and allow it to just add to the deficit and debt, they're no better than the GQP in that area.

Dems start to get tax-hike anxiety

President Joe Biden’s proposed tax increases are another breed, focused on people making over $400,000 a year.

www.politico.com

With all the abject madness saturating our politics from the looney wings, we may (please note bold italics) end up seeing the sane and brave moderates from both parties saving us from the abyss.

It is not just the Dems who are caught between a rock and a hard place it is the nation.

The US is in bad need of infrastructure improvements and repair but we are are 30 trillion dollars in debt.

Do we raise taxes to pay for infrastructure repair or do we just kick the can down the road and make the repairs without raising taxes?

Sooner or later the piper will be paid, either through taxes or inflation.

It's like the Biden Covid stimulus. Next to none of it went to Covid related issues. Most of the money went to their cronies.

Elections typically don't change the spending, rather, the change of party merely shifts the streams of cash somewhat.

There are no real conservatives voices at the Federal level. It's just one big spending orgy.

 

[Cellblock2429]

Looks like Biden is bending quite a bit, but I don't think the GQP is allowed to give an inch on anything:

Biden gives Republicans counteroffer on tax hikes to pay for infrastructure

The president offered a menu of tax increases that wouldn't reverse any of the changes Republicans made in 2017.

www.nbcnews.com

Biden floated a 15 percent minimum corporate tax and tougher enforcement on the highest earners, said a source familiar with the meeting. The proposal is part of an effort to prevent corporations from using tax breaks and loopholes to effectively eliminate their tax burden, the source said.

The list also included eliminating the "stepped-up basis," which addressees the tax value of inherited properties, and eliminating some fossil fuel incentives in the tax code.

/----/ You do realize corporations pass taxes on to the consumer in the form of higher prices --- you big dope.

... which has nothing to do with my post.

/——/ How corporations treat taxes has nothing to do with your post about corporate taxes??? Geeeze

 

[Shelzin]

Either your with us or against us, it's your ch

That's your choice... Not mine. As such... Feel free to make it.

I'm only with you on the things we agree on.