Trump: Low Taxes are "Ridiculous"

[HereWeGoAgain]

They drone do nothing? Fly off and mate?
Oft he workers?
Have you considered AA?

Have you considered "Hooked on Phonics"?

Not my spelling ya fucken idiot.

 

[Zander]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

 

[boilermaker55]

Wrong, what the problem is, which your ilk won't recognize. That the top 1% have the laws and rules in their favor on taxation
They then use the US v. Them technique.

Spending is to high....but the left won't touch that with a ten foot pole

 

[eagle1462010]

Wrong, what the problem is, which your ilk won't recognize. That the top 1% have the laws and rules in their favor on taxation
They then use the US v. Them technique.

Spending is to high....but the left won't touch that with a ten foot pole

LOL

We spend more than the GDP of any other nation on earth...............and it's wrong to say that spending is too high............

 

[boilermaker55]

Never said it was to high. But you cannot reduce your way to prosperity.
Try again.
Taxes for the 1% are too low and with off shore hiding of monies. Hell. Why not have US v. Them. While they sit back
and laugh at those like you.

Wrong, what the problem is, which your ilk won't recognize. That the top 1% have the laws and rules in their favor on taxation
They then use the US v. Them technique.

Spending is to high....but the left won't touch that with a ten foot pole

LOL

We spend more than the GDP of any other nation on earth...............and it's wrong to say that spending is too high............

 

[eagle1462010]

Never said it was to high. But you cannot reduce your way to prosperity.
Try again.
Taxes for the 1% are too low and with off shore hiding of monies. Hell. Why not have US v. Them. While they sit back
and laugh at those like you.

Wrong, what the problem is, which your ilk won't recognize. That the top 1% have the laws and rules in their favor on taxation
They then use the US v. Them technique.

Spending is to high....but the left won't touch that with a ten foot pole

LOL

We spend more than the GDP of any other nation on earth...............and it's wrong to say that spending is too high............

SassylrishLass said that..............and you said WRONG.............Which part of that did I miss.

 

[boilermaker55]

What you did wrong, like most republicans or conservatives, you imply what someone is saying.
Look again and see where I made any comment about the debt being low or nothing to worry about.
Then try to say something intelligent to me.

Never said it was to high. But you cannot reduce your way to prosperity.
Try again.
Taxes for the 1% are too low and with off shore hiding of monies. Hell. Why not have US v. Them. While they sit back
and laugh at those like you.

Wrong, what the problem is, which your ilk won't recognize. That the top 1% have the laws and rules in their favor on taxation
They then use the US v. Them technique.

Spending is to high....but the left won't touch that with a ten foot pole

LOL

We spend more than the GDP of any other nation on earth...............and it's wrong to say that spending is too high............

SassylrishLass said that..............and you said WRONG.............Which part of that did I miss.

 

[Flopper]

OK, so what do you mean by "no deductions"? Do you mean individuals cant deduct, e.g. mortgage interest, or do you mean companies cant, e.g. depreciate machinery and equipment?

I want a simple tax code for businesses and individuals.

For businesses - No depreciation. No more capital expenditures versus expenses. If you need a new piece of equipment you buy it. It is deducted from the corporate profit. It would encourage investment, not discourage it.

Individual would take income from all sources and pay a low flat tax. No deduction. No exemptions.

A child could figure it out.

Then the income tax for businesses would not be an income tax. Income has to be calculated as the yearly revenue less that yearly expenses, otherwise it's not income. To exclude depreciation is to exclude a real expense. Capital expenditures have to be spread over the useful life the asset. You certainly should not be allowed to expense the cost a new factory that will last decades all in one year. This would make no sense at all.

Business should not be taxed at all. They don't pay it anyway, they pass it on to their customers.

That's a popular assumption but incorrect. A well-run business is already charging what they should charge for their product or service. If they had room to raise prices they would have already have done so. But of course doing so will cause them to lose sales to competitors.

Competitors today are not effected equally by increased taxes. For example, one competitor may be hit by a reduction in allowable equipment deprecation while another would not be effect at all because the goods being sold are manufactured abroad. A change in tax rules related to inventories, capital expenditures, foreign tax credits, loss carry forwards and many other expenses can have widely differing impacts on competitors.

The public seems to make the assumption that faced with increased expenses, a business's first reaction is to raise prices. In reality, it's usually the last thing a business wants to do.

If you eliminate taxes for corporations you do so for all corporations. Ergo lower cost for all of them, ergo lower prices.

There is a some truth in what you're saying. However, prices are not determined by a businesses expenses but rather the prices of the completion. A business that pays little in taxes will see little savings in expense while another business that pays much higher taxes will see a big reduction in it's expense. However prices will be determined by the particular market. In some cases there will be little decrease in other it will substantial.

Since the corporate tax rate in the US is 35%, an elimination of the tax would certainly reduce prices but no where near 35% since the tax is imposed on income not revenue plus the effective rate is about 24%. For businesses that operate on a very small profit margin, the price reductions may be insignificant.

 

[ninja007]

The fundamental problem is that those who control this conversation are convincing you people that this is an "us vs. them", zero-sum game. It is not! The budget of the federal government is WAY TOO HIGH. Those of us who pay income taxes pay more than we should have to in order to fund the bloated federal budget. If you want to get mad at someone, have someone to blame, then get mad at the federal government for consistently failing to cut spending and failing to cut the size of the government.

The federal budget is only bloated because of rightwing funding for unnecessary military spending.

Taxes are too low to meet the rightwing warmongering.

So yes, taxes do need to be raised and military spending needs to be drastically reduced.

thats some funny shit right there- did you hear that from your far left college professor?

 

[The Rabbi]

OK. so what about a building? The building doesnt get consumed when you buy it. It has value after that and is likely to get sold at a higher price later.

You only pay a (low) tax when you realize a profit. If you own a building and sell it - you pay a tax on your actual profit. Since (under this system) you've already deducted all maintenance in the year it was done, your basis is what you paid for it. Simple and effective.

OK. Works for me.
Frankly any change is going to be for the better since the system we have now just sucks.

Any change to make taxes simpler is going to run into a buzzsaw of lobbying by the huge accounting firms, and hundreds of thousands of CPAs.

With any luck there wont be many Democrats for them to lobby.

Right, because no one lobbies Republicans.

You're a stupid motherfucker.

Of course people lobby Republicans, dipshit.
But Democrats are perpetually on the take and enthralled to special interests. You know that,r ight?

 

[The Rabbi]

I want a simple tax code for businesses and individuals.

For businesses - No depreciation. No more capital expenditures versus expenses. If you need a new piece of equipment you buy it. It is deducted from the corporate profit. It would encourage investment, not discourage it.

Individual would take income from all sources and pay a low flat tax. No deduction. No exemptions.

A child could figure it out.

Then the income tax for businesses would not be an income tax. Income has to be calculated as the yearly revenue less that yearly expenses, otherwise it's not income. To exclude depreciation is to exclude a real expense. Capital expenditures have to be spread over the useful life the asset. You certainly should not be allowed to expense the cost a new factory that will last decades all in one year. This would make no sense at all.

Business should not be taxed at all. They don't pay it anyway, they pass it on to their customers.

That's a popular assumption but incorrect. A well-run business is already charging what they should charge for their product or service. If they had room to raise prices they would have already have done so. But of course doing so will cause them to lose sales to competitors.

Competitors today are not effected equally by increased taxes. For example, one competitor may be hit by a reduction in allowable equipment deprecation while another would not be effect at all because the goods being sold are manufactured abroad. A change in tax rules related to inventories, capital expenditures, foreign tax credits, loss carry forwards and many other expenses can have widely differing impacts on competitors.

The public seems to make the assumption that faced with increased expenses, a business's first reaction is to raise prices. In reality, it's usually the last thing a business wants to do.

If you eliminate taxes for corporations you do so for all corporations. Ergo lower cost for all of them, ergo lower prices.

There is a some truth in what you're saying. However, prices are not determined by a businesses expenses but rather the prices of the completion. A business that pays little in taxes will see little savings in expense while another business that pays much higher taxes will see a big reduction in it's expense. However prices will be determined by the particular market. In some cases there will be little decrease in other it will substantial.

Since the corporate tax rate in the US is 35%, an elimination of the tax would certainly reduce prices but no where near 35% since the tax is imposed on income not revenue plus the effective rate is about 24%. For businesses that operate on a very small profit margin, the price reductions may be insignificant.

Huh?
If you reduce costs you potentially reduce retail prices. Prices must be high enough to cover all costs or the company will go out of business.

 

[Toro]

So Trump supporters think it's OK to raise taxes?

 

[The Rabbi]

So Trump supporters think it's OK to raise taxes?

Trump supporters are the GOP version of Obama supporters. They dont care what he says or stands for. They see in him what they want to see.

 

[Synthaholic]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

 

[Synthaholic]

You only pay a (low) tax when you realize a profit. If you own a building and sell it - you pay a tax on your actual profit. Since (under this system) you've already deducted all maintenance in the year it was done, your basis is what you paid for it. Simple and effective.

OK. Works for me.
Frankly any change is going to be for the better since the system we have now just sucks.

Any change to make taxes simpler is going to run into a buzzsaw of lobbying by the huge accounting firms, and hundreds of thousands of CPAs.

With any luck there wont be many Democrats for them to lobby.

Right, because no one lobbies Republicans.

You're a stupid motherfucker.

Of course people lobby Republicans, dipshit.
But Democrats are perpetually on the take and enthralled to special interests. You know that,r ight?

And Republicans aren't?

You're a stupid motherfucker.

 

[bodecea]

Spending is to high....but the left won't touch that with a ten foot pole

This is about what Trump thinks.......oh, you think he's the Left.


Well........................................maybe.

 

[Zander]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, it's basic accounting.

 

[Synthaholic]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, it's basic accounting.

If I'm writing it off, then I'm deducting it from my taxes, correct?

That makes it a deduction.

I thought you were a businessman?

 

[The Rabbi]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, idiot. OTherwise you would levy a tax on revenue instead of earnings. Get an adult to explain it.

 

[The Rabbi]

OK. Works for me.
Frankly any change is going to be for the better since the system we have now just sucks.

Any change to make taxes simpler is going to run into a buzzsaw of lobbying by the huge accounting firms, and hundreds of thousands of CPAs.

With any luck there wont be many Democrats for them to lobby.

Right, because no one lobbies Republicans.

You're a stupid motherfucker.

Of course people lobby Republicans, dipshit.
But Democrats are perpetually on the take and enthralled to special interests. You know that,r ight?

And Republicans aren't?

You're a stupid motherfucker.

Not nearly to the extent Dems are. Cocksucker.