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Sat Apr 3, 2021, 03:18 PM

Joe: I can't believe I have to say this, but giant corporations shouldn't pay less in taxes than a t


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President Biden
@POTUS
United States government official

I canít believe I have to say this, but giant corporations shouldnít pay less in taxes than a teacher or a firefighter.

Weíre going to change that Ė and ensure corporations finally pay their fair share with the Made in America Tax Plan.

51 replies, 7033 views

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Reply Joe: I can't believe I have to say this, but giant corporations shouldn't pay less in taxes than a t (Original post)
soothsayer Apr 2021 OP
Skittles Apr 2021 #1
wcmagumba Apr 2021 #2
stopdiggin Apr 2021 #6
Victor_c3 Apr 2021 #3
Beartracks Apr 2021 #15
11 Bravo Apr 2021 #17
Vdizzle Apr 2021 #43
KPN Apr 2021 #4
ShazamIam Apr 2021 #5
DENVERPOPS Apr 2021 #8
HuskyOffset Apr 2021 #12
ShazamIam Apr 2021 #19
taxi Apr 2021 #9
ShazamIam Apr 2021 #13
taxi Apr 2021 #23
ShazamIam Apr 2021 #30
taxi Apr 2021 #35
Demsrule86 Apr 2021 #10
ShazamIam Apr 2021 #16
PoliticAverse Apr 2021 #7
sarcasmo Apr 2021 #11
SWBTATTReg Apr 2021 #14
patphil Apr 2021 #18
Evolve Dammit Apr 2021 #20
Evolve Dammit Apr 2021 #24
WarGamer Apr 2021 #21
newdayneeded Apr 2021 #26
WarGamer Apr 2021 #31
WarGamer Apr 2021 #32
marie999 Apr 2021 #49
GB_RN Apr 2021 #36
WarGamer Apr 2021 #37
GB_RN Apr 2021 #44
WarGamer Apr 2021 #45
GB_RN Apr 2021 #46
CrispyQ Apr 2021 #47
WarGamer Apr 2021 #48
jalan48 Apr 2021 #22
RicROC Apr 2021 #25
Cha Apr 2021 #27
joetheman Apr 2021 #28
Upthevibe Apr 2021 #29
WarGamer Apr 2021 #34
HalfSleeves81 Apr 2021 #33
soothsayer Apr 2021 #38
tableturner Apr 2021 #39
BigmanPigman Apr 2021 #40
SheltieLover Apr 2021 #41
SheltieLover Apr 2021 #42
marie999 Apr 2021 #50
RANDYWILDMAN Apr 2021 #51

Response to soothsayer (Original post)

Sat Apr 3, 2021, 03:23 PM

1. DO IT

I was just thinking that yesterday: I LITERALLY pay more taxes than a lot of corporations who make BILLIONS

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 03:26 PM

2. But, but, but...surely all these corporations pass savings along to their customers and create jobs?

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Response to wcmagumba (Reply #2)

Sat Apr 3, 2021, 03:50 PM

6. you have learned your lessons well, grasshopper

and of course "all taxes are passed along to the consumer" -- (so just as well tax the little guy first ..)

----- --- --- --- -----

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 03:30 PM

3. Hopefully tax codes will finally actually benefit small business over giant corporations

Donít republicans say they support Main Street, USA? This is a great way to do it.

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Response to Victor_c3 (Reply #3)

Sat Apr 3, 2021, 04:36 PM

15. Republicans are the first to claim small business is the engine of the US economy...

... but then they always pour the fuel into the trunk.

=========

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Response to Victor_c3 (Reply #3)

Sat Apr 3, 2021, 04:38 PM

17. Republicans say all kinds of shit that their deeds directly contradict.

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Response to 11 Bravo (Reply #17)

Sat Apr 3, 2021, 07:20 PM

43. Fact

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 03:43 PM

4. Nice!

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 03:49 PM

5. What should make everyone mad is the cost of our military which is used to protect our

U.S. based multinational corporations, is extremely costly, not to mention the all the tax supported infrastructure including education of their employees but they not only want and have kept wages low they have spend the last 40 years pushing the tax burden down to the middle and working classes.

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Response to ShazamIam (Reply #5)

Sat Apr 3, 2021, 03:58 PM

8. You can bet your sweetass

That Massive Container ships and Massive Tanker Ships coming across the oceans would have massive hijackings if it weren't for the U.S. Navy.........

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Response to DENVERPOPS (Reply #8)

Sat Apr 3, 2021, 04:14 PM

12. Because of all the pirates? (NT)

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Response to HuskyOffset (Reply #12)

Sat Apr 3, 2021, 04:40 PM

19. Pirates and cooperation with the governments that allows the extraction of resources and

the use of cheap labor for manufacturing. All the power the U.S. military represents. We pay the bill, it benefits the wealthiest.

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Response to ShazamIam (Reply #5)

Sat Apr 3, 2021, 04:01 PM

9. They can get mad later. First there are other things to be done.

We've got to straighten out four years of messy, inexperienced governing just to get back to where we were four years ago.

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Response to taxi (Reply #9)

Sat Apr 3, 2021, 04:31 PM

13. Yes, but not jusst the last four, . . .

Things began to go real bad for us back in 69 when Nixon and the conservatives came to power,

DEA is one that needs to go bye bye. But all post Nixon Republicans want EPA gone. /s

Wage suppression has to go.

And the rich must pay higher wages and fair taxes, as declared by the man who wrote the book on capitalism noted. A capitalistic system must have fair wages and fair taxes and now we know it must also have environmental protections.

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Response to ShazamIam (Reply #13)

Sat Apr 3, 2021, 04:44 PM

23. All of those points are worthy of a post of its own.

I look at it like coming back out after taking a clip on the chin at the end of the last round. Can barely see straight. Stick with the plan.

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Response to taxi (Reply #23)

Sat Apr 3, 2021, 05:05 PM

30. it is all still very dangerous, politically and economically I mean, the wealthy have spent the last

50 years clawing back what America's working and laboring class had achieved by 1969. They then proceeded to not only eliminate the possibility of accumulating wealth but stole most of what the working class had managed to accumulate, all the mergers and acquisitions, followed by the offshoring of the jobs, housing bubbles, stock market bubbles, offshoring, illegal immigrant and legal refugee labor and thousands of changes to the laws and near total failure to enforce existing labor protections.

I hope we claw back our share in less than 50 years.

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Response to ShazamIam (Reply #30)

Sat Apr 3, 2021, 05:18 PM

35. Once in a while someone around here doesn't get it

And it's never worth more than talk. This place started out between a few people who wanted to help the Democratic Party. We are all just small voices, it's their place. But just like we're doing now we become part of the overall message. Yeah..?

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Response to ShazamIam (Reply #5)

Sat Apr 3, 2021, 04:03 PM

10. And that has nothing to do with Joe's tax plan...

I am very pleased with Pres. Biden...one should blame those who are responsible which would be Republicans.

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Response to Demsrule86 (Reply #10)

Sat Apr 3, 2021, 04:37 PM

16. Sorry, I don't understand what you are trying to say to me? nt

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 04:11 PM

11. I paid 1,339 in Federal tax, sent the check last week. FedEx paid zero.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 04:34 PM

14. And and we all paid more in tax (most of us) than the so called billionaire djt...who paid only

$750 in tax...this rankles me to no end, a self claimed billionaire, paying only $750...

And he's in hock up to his eyeballs too in debt, I wonder how he's getting away w/ depreciation still on his buildings if he's taking it, or since he's just renting his name on these buildings, how he is getting away w/ depreciation still, since I suspect that he doesn't own as much as he claims. Maybe since the numbers don't seem to add up, that is why authorities in NY and other places are starting to examine his claimed numbers in detail, and I suspect (IMHO, and in my auditor's gut) that they'll find a massive distortion of the facts, distortion of reality in the numbers he's claiming against his taxes.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 04:39 PM

18. There needs to be some sort of minimum tax, and a top % of a lot more than it is now.

Minimum tax should be based on sales, not profit.
And the proposed 28% maximum is way too low; I'd like it to be at least 35%.
Also, get rid of all the loopholes that allow right-offs while showing profits.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 04:42 PM

20. Increase collections/ enforcement staff and end this joke of the rich paying next to nothing. nt

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Response to Evolve Dammit (Reply #20)

Sat Apr 3, 2021, 04:46 PM

24. I left out legal staff, to file charges, indict, prosecute, convict and sieze assets if necessary.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 04:42 PM

21. He's right, BUT...

HOW to do it?

I've been calling for MEGA high taxation of the rich for half my life.

It's a given that if the simple "Corporate Tax Rate" is increased, consumer pricing will rise.

That's NOT the point of the tax. It becomes a tax on ALL OF US.

Not to let the Corporations off the hook, though...

Let's take a fresh look.

What IS a Corporation? (For simplicity sake, not entirely accurate) It's a legal business entity whose ownership is divided into millions or billions of tiny pieces called SHARES. These shares are owned by everyone from billionaires to retired school teachers and firemen (as part of their State Retirement Fund)

HOW do you get a Corporation to PAY a tax without the value of each share dropping?

Ever watched the Stock Market? They'll say Tesla got clobbered today, losing over $2B in value.

Did that $2B come out of Mr. Teslas wallet? Of course not (unless you're talking about Elon). The value of each share dropped, became LESS valuable.

So how do we get the money?

When we all say "Let's tax the Corporations" we're REALLY saying TAX THE RICH.

Let me throw this out there...

How about DON'T raise the Corproate Tax rate but institute a one-time 5% Wealth Tax above a certain net worth and an annual 1% Wealth Tax over a certain level?

Isn't THAT what we're REALLY trying to do?

The UK Wealth Tax Commission came to a similar conclusion, btw.

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Response to WarGamer (Reply #21)

Sat Apr 3, 2021, 04:57 PM

26. You wrote this

"It's a given that if the simple "Corporate Tax Rate" is increased, consumer pricing will rise."

The problem i have is the top management, CEO, CFO, etc. get millions in bonuses. They seem to be able to pay them and not raise prices. I call bullshit, not to you, but to the right constantly using this statement.

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Response to newdayneeded (Reply #26)

Sat Apr 3, 2021, 05:07 PM

31. I agree with you

then TAX THEM.

Tax the F out of them.

Let me try another angle.

Ford (F) is a Corporation, and is owned by... nearly FOUR BILLION SHARES.

If FORD as a Corporation pays a tax... by definition the tax amount affects the VALUE of each share. Right?

Who owns those shares?

My neighbor, the retired High School librarian has a CALPRS pension. Part of her income is based on Ford stock. Her income is reduced when Ford stocks drop in value (or the liquidity of CALPRS can be affected which requires the State of CA to pony up $$).

Trying to hurt the librarian? Of course not.

James P. Hackett, the CEO of Ford owns 586,000 shares of Ford.

Isn't Mr. Hackett REALLY the guy we need to address?

Just something to think about... k?

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Response to newdayneeded (Reply #26)

Sat Apr 3, 2021, 05:08 PM

32. Oh and the CEO pay is trivial on their books.

But the cost of paying the CEO IS REFLECTED in their share prices. Even if it's just a penny or 2.

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Response to newdayneeded (Reply #26)

Sun Apr 4, 2021, 08:43 PM

49. The millions that CEOs and others in top management gets is in the prices.

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Response to WarGamer (Reply #21)

Sat Apr 3, 2021, 05:22 PM

36. There's One Problem

And itís that a wealth tax is most likely NOT constitutional. The income tax wasnít constitutional until the passage of the 16th Amendment in 1913 (a congressional act for a flat income tax was ruled unconstitutional in 1894). So, given that, you can be sure that with the makeup of the current SCOTUS, a wealth tax wonít pass musterÖ

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Response to GB_RN (Reply #36)

Sat Apr 3, 2021, 05:27 PM

37. Solid point...

But I think a work around could be found.

Bottom line. Jeff Bezos has a net worth of 186 Billion dollars.

The VAST majority of that money is locked up and will never see the light of day.

That's $$ that SHOULD be feeding the system that ALLOWED to him to amass such awesome wealth.

Allowing the 0.1% to lock up their net worth is our #1 problem.

Maybe President Biden should ask for a Commission to study taxing of the Wealthy? We need ideas. Have Sen. Warren chair it.

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Response to WarGamer (Reply #37)

Sun Apr 4, 2021, 08:29 AM

44. I Don't Disagree

With your basic premise. I think that the ďeasiestĒ way to get it done (meaning no court fights and can be done via reconciliation) is just to increase the number of tax brackets. Put the system back the way it was before Reagan screwed it up. I donít know that we need a top tax bracket of 90% - but maybe THATíS what should be studied, and then increase the number of brackets appropriately.

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Response to GB_RN (Reply #44)

Sun Apr 4, 2021, 12:25 PM

45. How does that get at those "Bezos Bucks"? It doesn't.

The uber-wealthy have their cash locked away.

Bezos can't even have his income taxed UNLESS he cashes out stock and even then, it's not taxed the same as regular income.

Chasing the income tax thing is like drying out a leaking boat with a q-tip.

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Response to WarGamer (Reply #45)

Sun Apr 4, 2021, 12:44 PM

46. I Get That

And Iím not arguing with you. But without a constitutional amendment, a wealth tax isnít going to fly. And with todayís GOPQ, any amendment like that, isnít going anywhere.

So, Iím trying to be pragmatic by simply proposing the one method that will work and which will get some income off of what they get paid. We may not be able to get whatís stashed - but we can at least get at the stream before it gets to their hidey-holes.

If we canít make the system better (at least right now), letís at least make the current system work more efficiently/effectively and fairly.

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Response to WarGamer (Reply #21)

Sun Apr 4, 2021, 01:28 PM

47. What if we taxed investment income like labor? Or more, even.

A person trading their life's time for wages shouldn't be taxed higher than the person playing golf while their money works for them. That's just mean.

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Response to CrispyQ (Reply #47)

Sun Apr 4, 2021, 05:31 PM

48. absolutely right.

Capital gains MUST be taxed like regular income.

Dude works as a janitor for $50k a year. Pays a higher % than the rich guy in his golf cart making bank because Tesla and Apple went up/down that day.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 04:43 PM

22. They're called our owners and they buy the votes that enable them to maintain their privilege.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 04:50 PM

25. If 'corporations are people, my friends' (Romney)....

then the tax rate of corporations should not be less than the tax rate levied on individuals.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 04:58 PM

27. Rt.. the Firefighters love

Joe Biden! TY

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 05:00 PM

28. If corporations would stop contributing so much money to lobbyists and the GOP they could

 

pay their share of taxes with that money.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 05:03 PM

29. This HAS to happen!

This is the fork in the road.

If the Democrats can keep control of Congress & the Presidency, we could be on our way to re-establishing the middle-class. These Millionaires and Billionaires MUST be taxed (see Elizabeth Warren's plan). Just think if wages don't continue to be stagnated. Imagine that workers actually have rights and no more termination at will.

WE HAVE TO PASS THESE VOTING RIGHTS ACTS H.R.1 AND H.R. 4.





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Response to Upthevibe (Reply #29)

Sat Apr 3, 2021, 05:12 PM

34. Support Sen Warren 100%...

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 05:10 PM

33. Is this true?

 

A friend of mine works for a financial institution. According to her many millionaire clients of hers received the stimulus money bc their money are in trusts and they don't report income? Is this true?

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Response to HalfSleeves81 (Reply #33)

Sat Apr 3, 2021, 05:29 PM

38. He's talking about corporations

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 05:30 PM

39. If the masses are spending, corporations will do better even with higher tax rates.

Scenario 1: Taxes are lowered massively for corporations and the wealthy, with a very minimal lowering of taxes for the rest of the populace.

Scenario 1 result: Corporations and the wealthy greatly increase their financial strength.....the rest of the country....their financial strength is minimally improved at best, with a good percentage of this group actually losing ground financially.

Scenario 2: Taxes are raised on corporations and the wealthy, while the rest of the populace's discretionary spending is significantly boosted by a combination of lower taxes and the implementation of programs that support the financial health and clout of the overall populace.

Scenario 2 result: The vast majority of the populace does well, thanks to direct support in the form of lower taxes, and indirectly via programs that support the financial health and clout of this group. Corporations are taxed at a higher rate, but thanks to greatly increased consumer spending, they more than make up for that via significantly increased volumes and profits. The wealthy do very well, even though they are taxed at a higher rate, thanks to greatly increased consumer spending, which leads to significantly greater corporate volumes, profits, and dividends, along with salary and benefits increases for top executives.

That's right, the level of spending of the overall citizenry is what drives corporate profits. When policies promote that circumstance, EVERYBODY does well. Unfortunately, Republicans are shortsighted and greedy. They'll NEVER learn.

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 05:57 PM

40. This former teacher says DO IT!

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Response to soothsayer (Original post)

Sat Apr 3, 2021, 06:05 PM

41. Ty, President Biden!!!

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Response to soothsayer (Original post)


Response to soothsayer (Original post)

Sun Apr 4, 2021, 08:54 PM

50. Even corporations that seem to pay taxes really don't.

Consumers pay those taxes as part of what they pay for the corporations' products or services. I am not for a wealth tax, but I would be for an increase in wealth tax.

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Response to soothsayer (Original post)

Sun Apr 4, 2021, 09:04 PM

51. NO, you need to say it over and over again !!!!!

74 million people in this country only understand if you speak in first grade language level.


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