General Discussion

Starry Messenger

(32,380 posts)

91. No sweetie.

Sat May 23, 2015, 12:22 AM

May 2015

Look stuff up. Firstly, "profits" taken by an owner...Presuming we aren't talking about a sole-proprietorship (which doesn't technically have profits anyway, just net revenue)... are independent of the "profits" of the entity we're here calling a business.

A partnership or s-corp is a pass through entity. Profits, in as much as you are talking about net revenues, pass through to owners and the owners are taxed based upon that pass thru. There is no "after taxes" ... There is only a stream of revenue and individual taxation.

In the case of a sole -proprietorship, there isn't even the fiction of a separate entity... It's your income, gross and net, and you pay taxes accordingly.

Only in the case of a c-corp is there sufficient division of entities to provide taxation of owners (share holders) in addition to taxation of the corporate entity... But in that case it is not a "draw"- it is either salary or dividends (unless your accountant is smoking crack and making shit up on the fly).

One presumes you can live with paying taxes on your salary, like the rest of us... And one can acquire preferential tax rates on dividend income- if the corporation can qualify for qualified dividend status for its dividend payouts...

In no case, however, does anyone pay additional individual tax, in addition to company entity tax, on a "draw".

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What is your problem with socialism? [View all] RobertEarl May 2015 OP

My problem with socialism is that we don't have enough of it. We should socialize the banks and craigmatic May 2015 #1

Socialize them and then sell them off? el_bryanto May 2015 #7

Socialize the banks & let the Gov't run them in the interest of the public, you mean. Jackpine Radical May 2015 #59

I have no fear of it. hrmjustin May 2015 #2

I got nuthin' Vattel May 2015 #3

Americans have no idea what democratic socialism even is. hifiguy May 2015 #4

The racial tensions behind Sweden’s idyllic facade FrodosPet May 2015 #21

Thank you. YoungDemCA May 2015 #23

The Scandinavian countries certainly have their problems with their ethnic minorities. Jackpine Radical May 2015 #60

You can find a lot of racists in very conservative states in the US. JDPriestly May 2015 #88

They are, however, awfully "politically incorrect" in their speech. Jackpine Radical May 2015 #144

I am sure that exists in any society were there are different races. We see it here. And the point jwirr May 2015 #61

I was going to say that for years it was equated with the USSR and we were taught to fear them. jwirr May 2015 #55

They are not socialist states. former9thward May 2015 #179

It's about personalities... Cooley Hurd May 2015 #5

If I work hard and make a profit it should be my profit and not divided. Thinkingabout May 2015 #6

You are against taxes? RobertEarl May 2015 #8

Or what if cprompt May 2015 #58

The money quote: PETRUS May 2015 #66

The European countries have Democratic Socialism not communism. What that means is that they jwirr May 2015 #68

heh RobertEarl May 2015 #89

I'll go thru your points one by one Exilednight May 2015 #110

I suppose you worked your way through school too. Jackpine Radical May 2015 #147

What if you steal hard, or evade hard, or hedge hard ??? orpupilofnature57 May 2015 #9

Most small business owners do not steal, evade their taxes or have hedge funds. leftofcool May 2015 #26

And so there must be no problem..... daleanime May 2015 #56

Not with small Businesses leftofcool May 2015 #105

I was thinking Monsanto, Halliburton, that cottage industry orpupilofnature57 May 2015 #109

And the problem with Big businesses? daleanime May 2015 #111

Do you know the definition of "small business". 99.7% of all businesses are Exilednight May 2015 #112

Many of them DO steal, often from their employees. Jackpine Radical May 2015 #148

You're obviously confused. PETRUS May 2015 #15

Have you ever been an owner? Probably not since you think only the workers works. Thinkingabout May 2015 #17

My situation doesn't matter, since we're talking definitions. PETRUS May 2015 #20

Just a subtle clarification salib May 2015 #30

Thanks. PETRUS May 2015 #37

Marxist economist here: one need not 'trade' to make a profit in any given fiscal year. One need KingCharlemagne May 2015 #95

Good point salib May 2015 #118

"Marxist economist here" Nuclear Unicorn May 2015 #120

Well, as a matter of fact, it's an avocation, not a vocation. But KingCharlemagne May 2015 #124

Seems to me I remember a goodly number of Marxist Jackpine Radical May 2015 #150

but doesn't a laborer trade his talents and time for money DeadEyeDyck May 2015 #154

I don't have a problem with capitalism, i also do not have a problem with retaining my profits. Thinkingabout May 2015 #31

The rationale you offered doesn't support your position, though. PETRUS May 2015 #39

I think I understand where you are coming from. upaloopa May 2015 #40

Are you kidding? salib May 2015 #27

Perhaps there are better ways, some only wants a paycheck and not the headache. Thinkingabout May 2015 #33

A self righteous headache. It is the best kind. salib May 2015 #35

Explotation also would exist in a total socialism state, don't try to exclude those who only Thinkingabout May 2015 #36

Just like politicians, no economic system is going to be what Exilednight May 2015 #113

Where are the facts where the break down of the 51%? Thinkingabout May 2015 #126

I used 51% as an arbitrary number, but here's a fact Exilednight May 2015 #130

"There are most definitely better ways." PowerToThePeople May 2015 #50

I have two employees-1099s DeadEyeDyck May 2015 #156

The owner provides capital. The worker provides labor. This is really simple stuff. DisgustipatedinCA May 2015 #81

The owners don't provide capital, banks do. Owners of business borrow and the only Exilednight May 2015 #114

I never have cali May 2015 #103

You evade taxes? Starry Messenger May 2015 #19

No, i pay my taxes, I vote and I go to jury duty. I like being a participating citizen. I do not Thinkingabout May 2015 #34

Then your response to the OP makes no sense. Starry Messenger May 2015 #45

WTH? Thinkingabout May 2015 #46

Taxes are on profits. Starry Messenger May 2015 #70

Been there done that. Check with them, they can explain it to you. Check to see if the profit the Thinkingabout May 2015 #77

No sweetie. Starry Messenger May 2015 #91

^wicked smart. Maybe the person your responding to needs to ThinkAboutIt. Exilednight May 2015 #115

The propaganda runs deep in the U.S. Starry Messenger May 2015 #145

Perhaps you have not heard about corporate taxes. Thinkingabout May 2015 #161

Err... did you not read the post? Or are the details of the topic too complex for you to follow? Starry Messenger May 2015 #166

Since you do not know who you are talking to I will forgive your post. Thinkingabout May 2015 #167

I'm talking to someone who can't be bothered to read, evidently. Starry Messenger May 2015 #168

Personal and private property are not the same thing. NuclearDem May 2015 #41

Hell is being raised about what the government does and some are wanting the government in control? Thinkingabout May 2015 #42

Again, stupid RW meme is stupid. NuclearDem May 2015 #43

If you read the definition of socialism, yes it is stupid. You can cherry pick and when I read posts Thinkingabout May 2015 #44

There is no one definition of socialism. NuclearDem May 2015 #48

How about you knock off the accusations, I am not RW. You do not win on make Thinkingabout May 2015 #49

Could've fooled me. NuclearDem May 2015 #51

Now you are calling others leeches. Thinkingabout May 2015 #52

Reading comprehension helps. NuclearDem May 2015 #54

Did you post this: Thinkingabout May 2015 #78

That's not what the poster implied, you inferred that others in society are leeches. n/t Exilednight May 2015 #116

There we go! A correct answer! NuclearDem May 2015 #123

I did not imply that either, in this run name calling is happening. Where is the need to name call? Thinkingabout May 2015 #125

Yes you did, and this is where you did it using Exilednight May 2015 #127

I NEVER did the name calling, that is on someone else, a RW tactic. Thinkingabout May 2015 #128

Put your dog whistle down. It's only name calling if Exilednight May 2015 #131

Since I never said I do not believe in "handouts" you are targeting the wrong poster. Thinkingabout May 2015 #146

It's exactly what you said. Exilednight May 2015 #149

BYE Thinkingabout May 2015 #151

Enjoy wherever you're going. I'll be here at DU. Exilednight May 2015 #153

So you are against Social Security AgingAmerican May 2015 #160

It is thinking like your post which makes socialism bad, too much of give me, give me, give me. Thinkingabout May 2015 #163

So you are against all those things AgingAmerican May 2015 #164

Here is another problem, some thinks they know I should have said for their wants. Thinkingabout May 2015 #165

You are pushing Mitt Romneys 'takers vs makers' meme. AgingAmerican May 2015 #169

Hummm, since you seem to study Mitt, you still fail in rewriting my post, not even a good try. Thinkingabout May 2015 #170

Apparently you missed the last election AgingAmerican May 2015 #171

It is really hard on you, false accusations is not a winning suit for you. Thinkingabout May 2015 #172

been smelling this one for a while now. PowerToThePeople May 2015 #65

Day f-ing one. nt DisgustipatedinCA May 2015 #84

Yup. truebluegreen May 2015 #139

Education is and always has been an investment. In the future and in our country. Yes we older jwirr May 2015 #72

Just one point I'd like to make sammythecat May 2015 #140

I never said there are not people who work hard, since I have been employed before I know lazy mu Thinkingabout May 2015 #143

You are uninformed brush May 2015 #73

That was somebody else who brought up the tax evasion, maybe the accuser is evading taxes. Thinkingabout May 2015 #82

Guess you don't know college is free in . . . brush May 2015 #85

Selfish, this is what you can call the college students who gets their degree and think they should Thinkingabout May 2015 #87

Is there a comprehension problem? brush May 2015 #92

This isn't Europe and I don't owe "your" kids an education. leftofcool May 2015 #106

Do you feel the same about universal healthcare? Violet_Crumble May 2015 #129

I was wondering the same thing. If they don't want to pay for my child's education, then should they Exilednight May 2015 #134

WTF? If you went to college, I'm probably still paying for your Exilednight May 2015 #133

Uh no! I worked my way through college working 3 jobs leftofcool May 2015 #135

Yes I am. Unless you went to a for profit diploma mill, your educatipn was partially Exilednight May 2015 #138

What's so hard to grasp about college for all brush May 2015 #141

So you do not believe in paying taxes? jwirr May 2015 #63

I hear Somalia is nice. But Galt's a Gulch might be closer for you. DisgustipatedinCA May 2015 #80

Only if you are a sole proprietorship. What gives you the right to-- eridani May 2015 #102

You sound like Rand Paul AgingAmerican May 2015 #159

Life would definitely be better if we were more like Denmark. Hoyt May 2015 #10

Yeah, it is about Bernie RobertEarl May 2015 #11

I'll definitely support him if he wins primary. eom Hoyt May 2015 #14

Exactly. And that is the point of the primaries. salib May 2015 #32

My problem with socialism? Simple: Lizzie Poppet May 2015 #12

Let's take a peek at the Socialist Hellhole we'd become under President Sanders 99th_Monkey May 2015 #13

That we, as socialists or near socialists, do not market ourselves very well. Half-Century Man May 2015 #16

That's the truth. procon May 2015 #24

That should be an OP RobertEarl May 2015 #97

One of a series of rants I have yet to post. Half-Century Man May 2015 #100

I think it's pretty clear that the traditional social-democratic Left is dead in Europe and the US YoungDemCA May 2015 #18

I think we just need to build upon our current system. JaneyVee May 2015 #22

You will have to discuss that with the 1% they have all the capital. And they seem to want to jwirr May 2015 #75

If it's regulated fairly, I have no problem with it. BlueJazz May 2015 #25

If you do not like socialism, you do not like: guillaumeb May 2015 #28

Good questions LWolf May 2015 #29

with a world of finite resources PowerToThePeople May 2015 #38

Not Interested BKH70041 May 2015 #47

And that is not Democratic Socialism. What hey have in Europe is and the economic basis for most jwirr May 2015 #76

It's a matter of the degree of socialism in a society brush May 2015 #83

Eh? RobertEarl May 2015 #93

That was the dictionary definition of socialism. BKH70041 May 2015 #122

Using public resources for the common good, is most certainly socialism. ronnie624 May 2015 #157

Who here is not better than someone else at what they do best? seveneyes May 2015 #53

So you think PowerToThePeople May 2015 #57

So, you think you can tell a smile from a veil? seveneyes May 2015 #67

=) PowerToThePeople May 2015 #69

Peace offering seveneyes May 2015 #71

Democratic Socialism works well in worker owned cooperative companies. We need more of these. Dont call me Shirley May 2015 #62

FDR used cooperatives to build many of his programs. Not to long ago the power company sent jwirr May 2015 #79

We need the incarnation of FDR Dont call me Shirley May 2015 #174

Oh I kind of think we have that choice today. Bernie. jwirr May 2015 #175

We sure do Dont call me Shirley May 2015 #178

Works for the military! MrMickeysMom May 2015 #64

Herbert Philbrick fadedrose May 2015 #74

It is instilled, brainwashed, into Americans from the cradle to the grave. Jamastiene May 2015 #86

Are you talking about democratic socialism? JDPriestly May 2015 #90

I made it clear in post 93 RobertEarl May 2015 #94

No, the US type of government isn't "democratic socialist" muriel_volestrangler May 2015 #155

I like the system we have now. Omnith May 2015 #96

lol! LuvNewcastle May 2015 #107

Nothing, concerning socialistic programs. But I'm afraid the word itself has lost value as a brand pnwmom May 2015 #98

Creeping fascism AgingAmerican May 2015 #99

The political party I vote for is a democratic socialist party... Violet_Crumble May 2015 #104

Tony Abbot AgingAmerican May 2015 #158

The word no longer means what it used to eridani May 2015 #101

the word is more poison to the voting public than the word liberal it is equal to communist dembotoz May 2015 #108

In its purest form, the government would own my car and I've already make all the payments on the lonestarnot May 2015 #117

My problem isn't necessarily socialism but, rather, what Americans have been conditioned to... wyldwolf May 2015 #119

What is my problem with socialism? 99Forever May 2015 #121

socialism infringes upon an Eli-Lilly registered trademark, Cialis® foo_bar May 2015 #132

Me, nothing. My coworker and neighbor, on the other hand. Scared to death of it. randys1 May 2015 #136

I have a problem with the re-branding of socialism. dawg May 2015 #137

Agreed brooklynite May 2015 #142

Theory vs. Practice HassleCat May 2015 #152

Well for the pretenders here, it helps equalize wealth distribution and that scares the crap out Rex May 2015 #162

Socialism works for some things and does not do a good job at others. A mixed market economy is applegrove May 2015 #173

American ignorance Matrosov May 2015 #176

A century and a half of anti-socialist propaganda Agnosticsherbet May 2015 #177