At this rate we will never get ahead - PeachParts Mercedes-Benz Forum

kip Foss · #1 08-31-2011, 01:11 PM

http://www.thestreet.com/story/11234829/1/report-ceos-rewarded-for-avoiding-taxes.html

spdrun · #2 08-31-2011, 01:13 PM

Lower corporate income taxes to zero. Raise personal income tax and institute a VAT. Tax the profits at the point of collection -- after all, profits do CEOs no good if they can't spend them. Fringe benefits like company cars, private jets, company apartments should also be taxed as income based on the value of the service.

Botnst · #3 08-31-2011, 01:16 PM

Yes.

aklim · #4 08-31-2011, 01:36 PM

What's your point? We give CEOs bonuses for lowering expenses whether they are taxes, or getting a better location or finding a cheaper source. Why are taxes a holy item? Why should they not try to lower the amount they pay? Do we not do that ourselves in our personal lives? Should I buy from the local shop and pay more for the same thing when I can go pick up the item from a cheaper store on my way home from work?

If the country is to get ahead, we need to cut the spending first. If that is not enough, we can talk about it again but right now, there is too much "Arthur Andersen" going on

boneheaddoctor · #5 08-31-2011, 02:03 PM

Problem is this is far more involved than that article would suggest. The problem in the economy isn't about a few CEO's trying to reduce their tax burden....they are doing that legally. Legal loopholes were put their by politicians, they are legal to use. How about the nearly half the population that effectively pay no federal taxes now....

Picking on the people that create the jobs not suprisingly results in fewer jobs. And the disgust of the half that DOES have to pay ever higher and higher ammounts just adds to the problem.

When EVERYONE.....as in every legal adult has to pay an equal percentage of their income....then they can claim skin in the game and would care about reducing spending and entitlements to those who haven't earned them.

See if then real change doesn't happen.

compress ignite · #6 08-31-2011, 02:12 PM

Tax individuals on an upwards sliding scale based on income.
(Gates + Co. pay the MOST.)
Make Congressional Service a VOLUNTARY Citizen Activism.[One Term Only]
(No Pay,Food Stamps only)
Make Lobbyists Illegal.

aklim · #7 08-31-2011, 02:13 PM

Quote:

Originally Posted by boneheaddoctor

Problem is this is far more involved than that article would suggest. The problem in the economy isn't about a few CEO's trying to reduce their tax burden....they are doing that legally. Legal loopholes were put their by politicians, they are legal to use. How about the nearly half the population that effectively pay no federal taxes now....

Picking on the people that create the jobs not suprisingly results in fewer jobs. And the disgust of the half that DOES have to pay ever higher and higher ammounts just adds to the problem.

When EVERYONE.....as in every legal adult has to pay an equal percentage of their income....then they can claim skin in the game and would care about reducing spending and entitlements to those who haven't earned them.

See if then real change doesn't happen.

While I agree with that, I do believe that first you have to clean up your mess. Before you do that, giving everyone some skin in the game won't help. Even if you increase the revenue, if you piss it away doing stupid things, you will be waiting for the next disaster to happen.

aklim · #8 08-31-2011, 02:26 PM

Quote:

Originally Posted by compress ignite

Tax individuals on an upwards sliding scale based on income.
(Gates + Co. pay the MOST.)

Make Congressional Service a VOLUNTARY Citizen Activism.[One Term Only]
(No Pay,Food Stamps only)
Make Lobbyists Illegal.

Why punish the smart? Besides, they can move their money somewhere else and you get $0. I would. I have seen companies that do. Easier and better to simply tax at the point of purchase. No deductions, no nothing. No other taxes. Govt needs more money, it needs to raise the sales tax. That will slow down the damage they do

Would be nice but if you can limit the money going in and the money going out, it doesn't matter how much they serve does it?

Even if you do make lobbyists illegal, there is still a way to get around that. Make it harder to get around. Have the citizens actually pay attention to what is going on. Much harder

spdrun · #9 08-31-2011, 02:31 PM

Quote:

Originally Posted by aklim

While I agree with that, I do believe that first you have to clean up your mess. Before you do that, giving everyone some skin in the game won't help. Even if you increase the revenue, if you piss it away doing stupid things, you will be waiting for the next disaster to happen.

Everyone currently has skin in the game. Even if you don't pay taxes, you pay via the govno-mint printing money and fellating itself via inflation.

elchivito · #10 08-31-2011, 02:38 PM

Theoretically, taxing income punishes productivity. Taxing sales makes a lot more sense to me as it would seem to encourage thrift.

spdrun · #11 08-31-2011, 02:44 PM

Quote:

Originally Posted by elchivito

Theoretically, taxing income punishes productivity. Taxing sales makes a lot more sense to me as it would seem to encourage thrift.

Except the American economy is all about borrow-spend-borrow-spend-borrow-spendlikeadrunkenpigonmeth.

Here's a graph of savings rates, comparing some countries between 1992 and 2011. US is very low on that totem pole:

http://www.gfmag.com/tools/global-database/economic-data/10396-household-saving-rates.html#axzz1WdKoRyFR

aklim · #12 08-31-2011, 02:47 PM

Quote:

Originally Posted by spdrun

Even if you don't pay taxes, you pay via the govno-mint printing money and fellating itself via inflation.

Currently, if I earn nothing, I am paying nothing. Besides your rhetoric, how did you come to that conclusion

spdrun · #13 08-31-2011, 02:49 PM

Quote:

Originally Posted by aklim

Currently, if I earn nothing, I am paying nothing. Besides your rhetoric, how did you come to that conclusion

Even if you didn't earn in a given year, if you have savings, those savings are eroded by money-printing.

aklim · #14 08-31-2011, 02:49 PM

Quote:

Originally Posted by spdrun

Except the American economy is all about borrow-spend-borrow-spend-borrow-spendlikeadrunkenpigonmeth.

Here's a graph of savings rates, comparing some countries between 1992 and 2011. US is very low on that totem pole:

http://www.gfmag.com/tools/global-database/economic-data/10396-household-saving-rates.html#axzz1WdKoRyFR

If you remove everything tax wise and simply limit it to purchasing, whoever saves, saves. If you earn $1 and buy something, you pay taxes. If you earn $1 billion but spend nothing in any way, shape or form, you pay nothing.