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| 1 percent taxes | |
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| Tweet Topic Started: Feb 19 2012, 08:21 PM (1,670 Views) | |
| tomdrobin | Feb 20 2012, 12:41 PM Post #71 |
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Fire & Ice Senior Diplomat
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The US has one of the highest corporate tax rates, but few pay it because of the writeoffs, loopholes and incentives. I listened to an interview of the CEO of GE who is doing some work for the Obama adminstration, and he said they should just lower it to 4% and eliminated all the deductions. Seems to me if profits were distributed to the shareholders and taxed as income that would work. Retained profits could have a maximum retention period without reinvestment, after which they would be taxed. We've given too generous tax cuts over the last decade. Some think it should be an excuse to drastically slash spending. I think we need to restore the tax base and slow spending. |
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| Stoney | Feb 20 2012, 09:48 PM Post #72 |
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"Retained profits could have a maximum retention period without reinvestment, after which they would be taxed." Call them operating expenses and let the business decide when and how they need to be spent. We should not have a corporate tax. It just lends to cronyism limits the ability of the company to compete globally. We need to expand the tax base and increase the work force. Increased government spending has not contributed to those goals. |
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| Mountainrivers | Feb 20 2012, 09:59 PM Post #73 |
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Fire & Ice Senior Diplomat
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"Call them operating expenses and let the business decide when and how they need to be spent. " I would call them capital investments and let the corporation determine how they should be spent. The profits from corporations should be taxed, since they are now people, but, going back to an earlier post, those profits should be distributed to the shareholders and taxed at personal rates. Stoney made the point in reply to one of my posts, that we should allow corporations to retain some earnings for expansion and for slow periods. I agree with that, but think there should be limits on how much they can retain, based on reasonable assumptions regarding their needs. |
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| Brewster | Feb 20 2012, 09:59 PM Post #74 |
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Fire & Ice Senior Diplomat
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I don't see how, Stoney. I would say it's allowing subsidies and tax breaks that leads to cronyism. As for the global picture, all countries that I'm aware of have corporate taxes, so it isn't hurting your trade position. |
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| Jim Miller | Feb 20 2012, 10:06 PM Post #75 |
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Fire & Ice Senior Diplomat
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9:00 am and Brew is butting in again. His parents would be ashamed. |
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| Brewster | Feb 20 2012, 10:22 PM Post #76 |
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Fire & Ice Senior Diplomat
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If my parents ever saw what you post, they would be outraged. |
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| Jim Miller | Feb 20 2012, 11:41 PM Post #77 |
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Fire & Ice Senior Diplomat
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So you didn't have any training in the social graces. It is obvious. |
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| Mountainrivers | Feb 21 2012, 12:04 AM Post #78 |
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Fire & Ice Senior Diplomat
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miller and social graces. What an oxymoron! |
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| Jim Miller | Feb 21 2012, 12:08 AM Post #79 |
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Fire & Ice Senior Diplomat
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Ah, another attack. Who was first, Neal? |
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| Stoney | Feb 21 2012, 06:08 AM Post #80 |
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I don't know what you're worried about. At some point the money will be distributed. There's no harm in letting them decide when, letting them do planning for updating, expansion, ... That's what they're doing now, holding money until they can determine who much government is going to cost them. When they figure that out they'll spend the difference to make more money and distribute the profits. |
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