Should The Rich Be Required To Pay Higher Taxes In the US?

[OnePercenter]

Then simplify the code and end the BS. Set percentage with no BS......................
That has been said many times in this thread.

Not going to happen.

 

[OnePercenter]

If liberals and progressives focused on cleaning up the tax code and eliminating all the loopholes and exemptions that allow so many wealthy people to avoid taxes, they'd find a lot of cross-over support from conservatives and libertarians. Enough to actually implement the changes. I wonder why they don't.

Because Republicans control Congress.

 

[OnePercenter]

Weve made lots of austerity cuts in the last 15 years. Hasn't made a dent in the debt. We need to cut military spending and corporate welfare

Here's your answer. Five years we'll be balanced.


-Base Federal tax for corporations at 30% of revenue.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2015 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-offs/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 500 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2015 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

 

[Dad2three]

Keep TRYING Bubba


Tax Foundation's Prante: "A Stretch" To Claim "Cutting Capital Gains Taxes Raises Tax Revenues."

Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves

Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."


Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."



The supply-side theory that tax-cut proponents often espouse was demonstrated by the Laffer curve, named for economist Arthur B. Laffer. The curve suggests that a higher tax rate can generate just as much revenue as a lower rate. But most economists are not Laffer-curve purists. Instead, while they may believe in the power of tax cuts to create an economic boost, they don’t say that growth is enough to completely make up for lost revenue. For example, N. Gregory Mankiw, former chair of the current President Bush’s Council of Economic Advisers, calculated that the growth spurred by capital gains tax cuts pays for about half of lost revenue over a number of years and that payroll tax cuts generate enough growth to pay for about 17 percent of what is lost.

The Impact of Tax Cuts

View attachment 48284

YEP, Look at 5 year avg's? lol


Keep TRYING Bubba


Tax Foundation's Prante: "A Stretch" To Claim "Cutting Capital Gains Taxes Raises Tax Revenues."

Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves

Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."


Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."



The supply-side theory that tax-cut proponents often espouse was demonstrated by the Laffer curve, named for economist Arthur B. Laffer. The curve suggests that a higher tax rate can generate just as much revenue as a lower rate. But most economists are not Laffer-curve purists. Instead, while they may believe in the power of tax cuts to create an economic boost, they don’t say that growth is enough to completely make up for lost revenue. For example, N. Gregory Mankiw, former chair of the current President Bush’s Council of Economic Advisers, calculated that the growth spurred by capital gains tax cuts pays for about half of lost revenue over a number of years and that payroll tax cuts generate enough growth to pay for about 17 percent of what is lost.

The Impact of Tax Cuts

YEP, Look at 5 year avg's? lol

It's true, they still collect more with the lower rate.

NO serious economists thinks you cut taxes AND bring in more revenues, NONE


YES, IF YOU ARE THE WRONG SIDE OF THE CURVE? But sorry the capital gains tax "boom" reflected SHORT TERM PROFITS AT LOWER RATES THAT WERE PUSHED FORWARD



Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves.



Tax Foundation's Prante: "A Stretch" To Claim "Cutting Capital Gains Taxes Raises Tax Revenues."

ANTI Tax Foundation's Gerald Prante responded as follows to then-ABC World News anchor Charles Gibson's statement that "history shows that when you drop the capital gains tax, the revenues go up":



Gibson's implying that cutting capital gains taxes raises tax revenues by the mere time series correlation he cited was a stretch. Much of the short-run response to changes in the capital gains tax rate are for tax timing purposes. This is a well-known fact, and it is why CBO projects a huge spike in capital gains collections in 2010 (the last year of the scheduled low 15% rate on long-term gains) and thereby also a large decline in 2011 (when the rate on long-term gains is scheduled to revert to 20%) under current law. There is no doubt some revenue feedback will occur over the long-run from lower capital gains tax rates spurring investment, but most estimates would say that we are currently on the left side of the Laffer Curve with respect to capital gains.

Obama and Gibson Capital Gains Tax Exchange

NO serious economists thinks you cut taxes AND bring in more revenues, NONE

Maybe the serious economists should look at the drop in capital gains revenue when the rate was hiked?
Maybe they can look at the increase in capital gains revenue when the rate was cut?
You can look at the chart I posted.
Let me know if the big numbers are too confusing.
I'm always glad to help stupid people like you.

LOW INFO RIGHT WINGERS *SHAKING HEAD*

Gibson's implying that cutting capital gains taxes raises tax revenues by the mere time series correlation he cited was a stretch. Much of the short-run response to changes in the capital gains tax rate are for tax timing purposes. This is a well-known fact, and it is why CBO projects a huge spike in capital gains collections in 2010 (the last year of the scheduled low 15% rate on long-term gains) and thereby also a large decline in 2011 (when the rate on long-term gains is scheduled to revert to 20%) under current law. There is no doubt some revenue feedback will occur over the long-run from lower capital gains tax rates spurring investment, but most estimates would say that we are currently on the left side of the Laffer Curve with respect to capital gains.

Obama and Gibson Capital Gains Tax Exchange

 

[Dad2three]

Most Americans aren't saving a dime and will need ss.

Most Americans aren't saving a dime and will need ss.

When the government takes 12.4% of your lifetime earnings, they make it harder for you to save.

Yes, we saw how they saved PRE SS.

SS keeps almost 50% of seniors out of poverty, the best anti poverty program EVER

Yes, we saw how they saved PRE SS.

If we privatized it, they'd save at least 12.4%.

Yep, those "free market" hucksters would LOVE that.

People saving for themselves, big government lovers would hate that.

Yeah, weird they didn't do it Pre SS right? You Gov't haters WOULD have something, IF it were true!

 

[OnePercenter]

Why don't you look at their consolidated financials and get back to us.

I've made my point, it's you that can't seem to focus.

 

[Dad2three]

Shouldn't you pay taxes to support your own way. Everyone pays taxes.

I see comprehension isn't your strong suit. That would explain your loony leftism.
BTW, didn't you once claim you "earn" millions yet pay no income tax?

Thanks to Republicans I pay no personal federal income tax because I 'officially' make zero income.

Yanno, I'll not bother addressing the world class stupidity in your response but I will mention the world class hypocrisy and if made to guess, I'd say you can't see either.

I'm pointing out the stupidity of fools like you that allow me to keep more of my money and screwing themselves.

If liberals and progressives focused on cleaning up the tax code and eliminating all the loopholes and exemptions that allow so many wealthy people to avoid taxes, they'd find a lot of cross-over support from conservatives and libertarians. Enough to actually implement the changes. I wonder why they don't.

Like them agreeing with Obama's proposal from YEARS ago to take the top rate on Biz from 35% to 28% , get rid of loopholes and use the new revenues to fund infrastructure???? lol

Hint CONservatives/Libertarians WANT a dysfunctional Gov't.

 

[Toddsterpatriot]

What tax breaks?
And where is tuition $600?

Walmart employees deliver chairman $7.8 bn 'tax bill' for company's tax breaks

"A report released this week showed Walmart is the beneficiary of $7.8 billion a year in tax breaks and subsidies from the US tax system. "

"The report – “Walmart on Tax Day: How Taxpayers Subsidize America's Biggest Employer and Richest Family” – from the public advocacy group American for Tax Fairness (ATF) said the company’s low wages and lack of benefits saves it about $6.2 billion annually, as many employees are forced to depend on government programs like food stamps to get by."

"The $6.2 billion figure is based on data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce, which found that “a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers,” according to ATF."

"Tax breaks and loopholes in the US tax code allow the mega-corporation to dodge around $1 billion in taxes per year, ATF’s report found."

"The Waltons, owners of more than 50 percent of the corporation’s shares, are legally able to bypass paying $607 million in federal taxes on their company dividends, according to ATF. This is because investment income is taxed at a lower bracket than regular income."

Report: Walmart on Tax Day | Americans for Tax Fairness

http://www.americansfortaxfairness.org/files/Walmart_On_Tax_Day_Report_ExecutiveSummary.pdf

Here's the report:

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.
• Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.
• The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

In addition to the $7.8 billion in annual subsidies and tax breaks, the Walton family is avoiding an estimated $3 billion in taxes by using specialized trusts to dodge estate taxes – and this number could increase by tens of billions of dollars.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year"

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.

That's not a tax break for the Waltons.

Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.

So what? I think corps should be able to write off 100% immediately.
And accelerated depreciation only moves the deduction forward, the total deduction is the same.


The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

That's not a tax break for Waltons.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year

End food stamps now, stick it to the Waltons. LOL!

 

[Toddsterpatriot]

Most Americans aren't saving a dime and will need ss.

When the government takes 12.4% of your lifetime earnings, they make it harder for you to save.

Yes, we saw how they saved PRE SS.

SS keeps almost 50% of seniors out of poverty, the best anti poverty program EVER

Yes, we saw how they saved PRE SS.

If we privatized it, they'd save at least 12.4%.

Yep, those "free market" hucksters would LOVE that.

People saving for themselves, big government lovers would hate that.

Yeah, weird they didn't do it Pre SS right? You Gov't haters WOULD have something, IF it were true!

Well, it's weird we don't do it now.
Instead of giving the government 12.4% of your income for your entire career.
Because that would make sense and shrink government.
I can see why a big government lover doesn't want that.
Smaller government and a better funded retirement, icky stuff. LOL!

 

[Dad2three]

What tax breaks?
And where is tuition $600?

Walmart employees deliver chairman $7.8 bn 'tax bill' for company's tax breaks

"A report released this week showed Walmart is the beneficiary of $7.8 billion a year in tax breaks and subsidies from the US tax system. "

"The report – “Walmart on Tax Day: How Taxpayers Subsidize America's Biggest Employer and Richest Family” – from the public advocacy group American for Tax Fairness (ATF) said the company’s low wages and lack of benefits saves it about $6.2 billion annually, as many employees are forced to depend on government programs like food stamps to get by."

"The $6.2 billion figure is based on data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce, which found that “a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers,” according to ATF."

"Tax breaks and loopholes in the US tax code allow the mega-corporation to dodge around $1 billion in taxes per year, ATF’s report found."

"The Waltons, owners of more than 50 percent of the corporation’s shares, are legally able to bypass paying $607 million in federal taxes on their company dividends, according to ATF. This is because investment income is taxed at a lower bracket than regular income."

Report: Walmart on Tax Day | Americans for Tax Fairness

http://www.americansfortaxfairness.org/files/Walmart_On_Tax_Day_Report_ExecutiveSummary.pdf

Here's the report:

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.
• Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.
• The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

In addition to the $7.8 billion in annual subsidies and tax breaks, the Walton family is avoiding an estimated $3 billion in taxes by using specialized trusts to dodge estate taxes – and this number could increase by tens of billions of dollars.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year"

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.

That's not a tax break for the Waltons.

Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.

So what? I think corps should be able to write off 100% immediately.
And accelerated depreciation only moves the deduction forward, the total deduction is the same.


The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

That's not a tax break for Waltons.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year

End food stamps now, stick it to the Waltons. LOL!

"That's not a tax break for the Waltons."



True, Walton's ONLY have a greater than 50% stake in Walmart

 

[Dad2three]

Yes, we saw how they saved PRE SS.

SS keeps almost 50% of seniors out of poverty, the best anti poverty program EVER

Yes, we saw how they saved PRE SS.

If we privatized it, they'd save at least 12.4%.

Yep, those "free market" hucksters would LOVE that.

People saving for themselves, big government lovers would hate that.

Yeah, weird they didn't do it Pre SS right? You Gov't haters WOULD have something, IF it were true!

Well, it's weird we don't do it now.
Instead of giving the government 12.4% of your income for your entire career.
Because that would make sense and shrink government.
I can see why a big government lover doesn't want that.
Smaller government and a better funded retirement, icky stuff. LOL!

You mean in right wing world, where Gov't is bad but free markets being able to plunder US is good? Sorry, HUGE fail. History says so. Better funded? lol




Perhaps YOU can FINALLY give me ONE policy conservatives have EVER been on the correct side of history in the US?

 

[Toddsterpatriot]

What tax breaks?
And where is tuition $600?

Walmart employees deliver chairman $7.8 bn 'tax bill' for company's tax breaks

"A report released this week showed Walmart is the beneficiary of $7.8 billion a year in tax breaks and subsidies from the US tax system. "

"The report – “Walmart on Tax Day: How Taxpayers Subsidize America's Biggest Employer and Richest Family” – from the public advocacy group American for Tax Fairness (ATF) said the company’s low wages and lack of benefits saves it about $6.2 billion annually, as many employees are forced to depend on government programs like food stamps to get by."

"The $6.2 billion figure is based on data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce, which found that “a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers,” according to ATF."

"Tax breaks and loopholes in the US tax code allow the mega-corporation to dodge around $1 billion in taxes per year, ATF’s report found."

"The Waltons, owners of more than 50 percent of the corporation’s shares, are legally able to bypass paying $607 million in federal taxes on their company dividends, according to ATF. This is because investment income is taxed at a lower bracket than regular income."

Report: Walmart on Tax Day | Americans for Tax Fairness

http://www.americansfortaxfairness.org/files/Walmart_On_Tax_Day_Report_ExecutiveSummary.pdf

Here's the report:

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.
• Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.
• The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

In addition to the $7.8 billion in annual subsidies and tax breaks, the Walton family is avoiding an estimated $3 billion in taxes by using specialized trusts to dodge estate taxes – and this number could increase by tens of billions of dollars.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year"

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.

That's not a tax break for the Waltons.

Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.

So what? I think corps should be able to write off 100% immediately.
And accelerated depreciation only moves the deduction forward, the total deduction is the same.


The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

That's not a tax break for Waltons.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year

End food stamps now, stick it to the Waltons. LOL!

"That's not a tax break for the Waltons."



True, Walton's ONLY have a greater than 50% stake in Walmart

It's awful when the family of the founder of a great company does so well, eh comrade?

 

[Toddsterpatriot]

Yes, we saw how they saved PRE SS.

If we privatized it, they'd save at least 12.4%.

Yep, those "free market" hucksters would LOVE that.

People saving for themselves, big government lovers would hate that.

Yeah, weird they didn't do it Pre SS right? You Gov't haters WOULD have something, IF it were true!

Well, it's weird we don't do it now.
Instead of giving the government 12.4% of your income for your entire career.
Because that would make sense and shrink government.
I can see why a big government lover doesn't want that.
Smaller government and a better funded retirement, icky stuff. LOL!

You mean in right wing world, where Gov't is bad but free markets being able to plunder US is good? Sorry, HUGE fail. History says so. Better funded? lol




Perhaps YOU can FINALLY give me ONE policy conservatives have EVER been on the correct side of policy in the US?

free markets being able to plunder US is good?

There, there, big government will tuck you in.

 

[Dad2three]

What tax breaks?
And where is tuition $600?

Walmart employees deliver chairman $7.8 bn 'tax bill' for company's tax breaks

"A report released this week showed Walmart is the beneficiary of $7.8 billion a year in tax breaks and subsidies from the US tax system. "

"The report – “Walmart on Tax Day: How Taxpayers Subsidize America's Biggest Employer and Richest Family” – from the public advocacy group American for Tax Fairness (ATF) said the company’s low wages and lack of benefits saves it about $6.2 billion annually, as many employees are forced to depend on government programs like food stamps to get by."

"The $6.2 billion figure is based on data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce, which found that “a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers,” according to ATF."

"Tax breaks and loopholes in the US tax code allow the mega-corporation to dodge around $1 billion in taxes per year, ATF’s report found."

"The Waltons, owners of more than 50 percent of the corporation’s shares, are legally able to bypass paying $607 million in federal taxes on their company dividends, according to ATF. This is because investment income is taxed at a lower bracket than regular income."

Report: Walmart on Tax Day | Americans for Tax Fairness

http://www.americansfortaxfairness.org/files/Walmart_On_Tax_Day_Report_ExecutiveSummary.pdf

Here's the report:

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.
• Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.
• The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

In addition to the $7.8 billion in annual subsidies and tax breaks, the Walton family is avoiding an estimated $3 billion in taxes by using specialized trusts to dodge estate taxes – and this number could increase by tens of billions of dollars.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year"

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.

That's not a tax break for the Waltons.

Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.

So what? I think corps should be able to write off 100% immediately.
And accelerated depreciation only moves the deduction forward, the total deduction is the same.


The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

That's not a tax break for Waltons.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year

End food stamps now, stick it to the Waltons. LOL!

"That's not a tax break for the Waltons."



True, Walton's ONLY have a greater than 50% stake in Walmart

It's awful when the family of the founder of a great company does so well, eh comrade?

True, they ONLY benefited over half the Corp tax breaks right Bubs, beside hitting the lucky sperm lottery, why should they benefit from the fathers hard work, worth more than 80% of US COMBINED? ?????

 

[Dad2three]

Yep, those "free market" hucksters would LOVE that.

People saving for themselves, big government lovers would hate that.

Yeah, weird they didn't do it Pre SS right? You Gov't haters WOULD have something, IF it were true!

Well, it's weird we don't do it now.
Instead of giving the government 12.4% of your income for your entire career.
Because that would make sense and shrink government.
I can see why a big government lover doesn't want that.
Smaller government and a better funded retirement, icky stuff. LOL!

You mean in right wing world, where Gov't is bad but free markets being able to plunder US is good? Sorry, HUGE fail. History says so. Better funded? lol




Perhaps YOU can FINALLY give me ONE policy conservatives have EVER been on the correct side of policy in the US?

free markets being able to plunder US is good?

There, there, big government will tuck you in.

At least until the "small Gov't" types get into a woman's reproduction right Bubs?

 

[Toddsterpatriot]

What tax breaks?
And where is tuition $600?

Walmart employees deliver chairman $7.8 bn 'tax bill' for company's tax breaks

"A report released this week showed Walmart is the beneficiary of $7.8 billion a year in tax breaks and subsidies from the US tax system. "

"The report – “Walmart on Tax Day: How Taxpayers Subsidize America's Biggest Employer and Richest Family” – from the public advocacy group American for Tax Fairness (ATF) said the company’s low wages and lack of benefits saves it about $6.2 billion annually, as many employees are forced to depend on government programs like food stamps to get by."

"The $6.2 billion figure is based on data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce, which found that “a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers,” according to ATF."

"Tax breaks and loopholes in the US tax code allow the mega-corporation to dodge around $1 billion in taxes per year, ATF’s report found."

"The Waltons, owners of more than 50 percent of the corporation’s shares, are legally able to bypass paying $607 million in federal taxes on their company dividends, according to ATF. This is because investment income is taxed at a lower bracket than regular income."

Report: Walmart on Tax Day | Americans for Tax Fairness

http://www.americansfortaxfairness.org/files/Walmart_On_Tax_Day_Report_ExecutiveSummary.pdf

Here's the report:

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.
• Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.
• The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

In addition to the $7.8 billion in annual subsidies and tax breaks, the Walton family is avoiding an estimated $3 billion in taxes by using specialized trusts to dodge estate taxes – and this number could increase by tens of billions of dollars.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year"

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.

That's not a tax break for the Waltons.

Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.

So what? I think corps should be able to write off 100% immediately.
And accelerated depreciation only moves the deduction forward, the total deduction is the same.


The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

That's not a tax break for Waltons.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year

End food stamps now, stick it to the Waltons. LOL!

"That's not a tax break for the Waltons."



True, Walton's ONLY have a greater than 50% stake in Walmart

It's awful when the family of the founder of a great company does so well, eh comrade?

True, they ONLY benefited over half the Corp tax breaks right Bubs, beside hitting the lucky sperm lottery, why should they benefit from the fathers hard work, worth more than 80% of US COMBINED? ?????

True, they ONLY benefited over half the Corp tax breaks right Bubs,

You mean they paid taxes, just like every other corporation?
That's awful!
Feel free to cut out all the welfare payments that WalMart takes advantage of.

why should they benefit from the fathers hard work

Why not. You know, private ownership.

 

[frigidweirdo]

What tax breaks?
And where is tuition $600?

Walmart employees deliver chairman $7.8 bn 'tax bill' for company's tax breaks

"A report released this week showed Walmart is the beneficiary of $7.8 billion a year in tax breaks and subsidies from the US tax system. "

"The report – “Walmart on Tax Day: How Taxpayers Subsidize America's Biggest Employer and Richest Family” – from the public advocacy group American for Tax Fairness (ATF) said the company’s low wages and lack of benefits saves it about $6.2 billion annually, as many employees are forced to depend on government programs like food stamps to get by."

"The $6.2 billion figure is based on data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce, which found that “a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers,” according to ATF."

"Tax breaks and loopholes in the US tax code allow the mega-corporation to dodge around $1 billion in taxes per year, ATF’s report found."

"The Waltons, owners of more than 50 percent of the corporation’s shares, are legally able to bypass paying $607 million in federal taxes on their company dividends, according to ATF. This is because investment income is taxed at a lower bracket than regular income."

Report: Walmart on Tax Day | Americans for Tax Fairness

http://www.americansfortaxfairness.org/files/Walmart_On_Tax_Day_Report_ExecutiveSummary.pdf

Here's the report:

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.
• Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.
• The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

In addition to the $7.8 billion in annual subsidies and tax breaks, the Walton family is avoiding an estimated $3 billion in taxes by using specialized trusts to dodge estate taxes – and this number could increase by tens of billions of dollars.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year"

"Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs.

That's not a tax break for the Waltons.

Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.

So what? I think corps should be able to write off 100% immediately.
And accelerated depreciation only moves the deduction forward, the total deduction is the same.


The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.

That's not a tax break for Waltons.

Walmart also benefits significantly from taxpayer-funded public assistance programs that pump up the retailer’s sales. For example, Walmart had an estimated $13.5 billion in food stamp sales last year

End food stamps now, stick it to the Waltons. LOL!

Walmart pay their employees so little and they push for these benefits. If the law were you either work or you collect benefits, Walmart would be screwed. They'd have to pay employees more.

 

[sealybobo]

And if you do what Ford and gm do you pay all the workers well enough to be able to afford to fix the economy. Maybe instead of CEO pay going up 600% you share some of those profits with the workers of America.

Walmart just gave all their employees a raise. That's gonna hurt profits and the Walton's but not consumers. If Walton charges too much Kroger and neither kick Walton's ass.

You think so small.

Walmart here in Vegas is closing most of their 40 24hour stores at midnight and re-open at 6 am, thus taking their lost revenue write-off, so no loss, except for the employees that get their pay cut.

Bfd. I'd rather 5 make $20 you would rather ten make ten or even twenty make $5

 

[sealybobo]

Where did the trust funds, raided to the tune of $3+ trillion the past 30 years go then????

What trust funds do you speak of? You mean Social Security? Social Security is a prime example of government rip-off. This year I had a family member pass away, a close friend, and last year, my neighbor. All died under the age which they could collect Social Security. What happened to all that money they (and their employers) contributed to this fund?

It's a PAY AS YOU GO SYSTEM (of course Ronnie increase SS taxes in 1986 to "save SS" BUT USED THE EXTRA REVENUES TO FUND GOV'T THE NEXT 30 YEARS. Weird you don't get that!

A President can't do that, only Congress can which of course was Democrat during Reagan's two terms. And it can be rescinded by the following administrations.

For the past couple of years, SS has been paying out more than it's taking in. Next year, SS disability will be completely broke unless we ask China to secure funds to it.

This "pay as you go" system as you call it is mandatory--not optional. If it were optional, more intelligent people would opt out and invest that money in a slow-growth conservative fund. After all, for most American workers, SS contributions are the second highest tax next to FICA which is another fancy name for SS anyway.

Most Americans aren't saving a dime and will need ss.

Most Americans aren't saving a dime and will need ss.

When the government takes 12.4% of your lifetime earnings, they make it harder for you to save.

You'll get it back.

Most Americans could save but instead spend beyond their means and are in debt. This is a Republican talking point so don't argue with it.

 

[Toddsterpatriot]

What trust funds do you speak of? You mean Social Security? Social Security is a prime example of government rip-off. This year I had a family member pass away, a close friend, and last year, my neighbor. All died under the age which they could collect Social Security. What happened to all that money they (and their employers) contributed to this fund?

It's a PAY AS YOU GO SYSTEM (of course Ronnie increase SS taxes in 1986 to "save SS" BUT USED THE EXTRA REVENUES TO FUND GOV'T THE NEXT 30 YEARS. Weird you don't get that!

A President can't do that, only Congress can which of course was Democrat during Reagan's two terms. And it can be rescinded by the following administrations.

For the past couple of years, SS has been paying out more than it's taking in. Next year, SS disability will be completely broke unless we ask China to secure funds to it.

This "pay as you go" system as you call it is mandatory--not optional. If it were optional, more intelligent people would opt out and invest that money in a slow-growth conservative fund. After all, for most American workers, SS contributions are the second highest tax next to FICA which is another fancy name for SS anyway.

Most Americans aren't saving a dime and will need ss.

Most Americans aren't saving a dime and will need ss.

When the government takes 12.4% of your lifetime earnings, they make it harder for you to save.

You'll get it back.

Most Americans could save but instead spend beyond their means and are in debt. This is a Republican talking point so don't argue with it.

You'll get it back.

Unless you die early. Or the government decides to cut your benefits.