Federal sales tax, state sales tax and local sales tax.
Every dollar spent.
No more tax exemptions for corporations that can hide profits.
No exemptions for anyone, not social security recipients, not welfare clients.
No fukcing IRS.
No metroplex.
No renewable registrations.
No hunting or fishing licenses.
No tax exempt status for non profits or charities.
Why do you think businesses don't pay sales tax? Do you mean on things they resell? How about the pizza maker who buys flour, which is currently nontaxable as a foodstuff? Do you want him to pay tax on that flour at 8%? Just making sure we are on the same page
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
Why do you think businesses don't pay sales tax? Do you mean on things they resell? How about the pizza maker who buys flour, which is currently nontaxable as a foodstuff? Do you want him to pay tax on that flour at 8%? Just making sure we are on the same page
Yes, he should.
When I buy the General Electric Company I pay no sales tax.
When I buy a GE TV I do.
When I buy car, I pay sales tax, when I sell it the next guys pays sales tax.
When he sells it the next guy pays sales tax, when he sells it the next guy pays sales tax, when he sells it the next guy pays sales tax, when he sells it the next guy pays sales tax, when he sells it the next guy pays sales tax, when he sells it the next guy pays sales tax, when he sells it the next guy pays sales tax, when he sells it the next guy pays sales tax, when he sells it the next guy pays sales tax, ...
The sales tax collection often exceeds the original retail price of the new vehicle.
Does the accumulated sales taxes get added to the sale price of the car each time?
No. It has no effect on it, because everyone comes to expect that it must be done.
The same should apply for pizza, yogurt cars etc, then GM wouldn't import 21,457 parts for each vehicle and merely be a imported parts assembly plant claiming to sell US cars.
If the Pizza guy buys vegetables, why should he get wholesale pricing plus tax favoritism?
No exceptions. Flat taxes on every dollar spent.
Communion wafers for churches, a new kidney transplant.
Everyone has seen how family restaurants feed their own families out of business merchandise purchased tax free. They then only have to pay tax on the profit.
On a larger scale, a CEO get's a company car, a jet, a helicopter, business dinners, sports club memberships, company credit cards, etc and his corporation only pays taxes on what he fails to spend. The law was meant to allow profits to be used tax free to reinvest in the business, not to invest in summer villas, townhouses, expensive artwork, etc thereby paying no taxes.
55% of all major corporations paid no corporate income tax between 1998 and 2005.
Why aren't stock exchange purchases taxed? Because they are meant for resale?
Corporations get exemptions at every turn in the road.
You would be surprised how low a federal and state tax could be if everyone pays taxes on every dollar spent.
GDP is over 8 trillion. 10% of that would be 800 billion in taxes. That's if every seller bought nothing from another person.
It is very likely that a 10% federal tax would result in 4 to 5 trillion in taxes per year.
Churches would pay, corporations would pay, welfare recipients would pay.
Just the elimination of 25,000 taxation departments with millions of employees would save a trillion dollars.
It's good to be politically connected in this administration. Politicaldog101.Com
GE made a $14.2 Billion profit last year and paid NO taxes…..None… Posted by jamesb101 on March 25, 2011 Leave a comment (10) Go to comments
In January, President Obama named Jeffrey R. Immelt( Above w/Obama), General Electric’s chief executive, to head the President’s Council on Jobs and Competitiveness. “He understands what it takes for America to compete in the global economy,” Mr. Obama said……
Wait…..
It gets better….
They also claimed a $3.2 Billion tax benefit!
I did a post on how these companies are breaking Congress and the White Houses ball for even MORE tax credit’s if they can have a tax HOLIDAY on oversea’s income that would transfer to the US….
Now how do you why do you need a credit if you already are claiming a $3.2 billion tax benefit?
What …..
You want to make money to give to the CEO….
What about paying some damn taxes so my taxes can go down and these new GOP House memebers can cease trying to cut the balls out of all the countries social programs…Huh?
***
The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.
Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.
Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.
While General Electric is one of the most skilled at reducing its tax burden, many other companies have become better at this as well. Although the top corporate tax rate in the United States is 35 percent, one of the highest in the world, companies have been increasingly using a maze of shelters, tax credits and subsidies to pay far less……
IMO, Sandra Fluke and many other issues are irrelevant to the Bush Economic Meltdown. This was no ordinary blip on the stock market or a temporary recession trend... It almost equaled the Great Depression and was a "global event". Had steps not been taken (both Bush & Obama) in time to stabilize we might have equaled the Great Depression.
Check out the book, "Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System---and Themselves" And "Too Big To Fail" (a HBO dramatization of the event)
This recession is not within earshot of the great depression...not even close, although the hand wringers want to you to think that. If you want the great depression, you have to DOUBLE the unemployment rate at the height of this recession, the stock market would have needed to go down another 38% percent to equal the 89% drop at the low point of the great depression. IN 1929, they didn't have SS, food stamps, welfare, unemployment insurance, or the FDIC... To compare this recession to the great depression is like comparing the Hurricane Irene floods here to Hurricane Katrina in New Orleans...both bad situations to be sure, but not close in scope.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
This recession is not within earshot of the great depression...not even close, although the hand wringers want to you to think that. If you want the great depression, you have to DOUBLE the unemployment rate at the height of this recession, the stock market would have needed to go down another 38% percent to equal the 89% drop at the low point of the great depression. IN 1929, they didn't have SS, food stamps, welfare, unemployment insurance, or the FDIC... To compare this recession to the great depression is like comparing the Hurricane Irene floods here to Hurricane Katrina in New Orleans...both bad situations to be sure, but not close in scope.
We will never know what 'might have been' had steps not been taken to limit the damage. Consider that with out the Auto Bailout, over 1,100,000 more auto workers would have hit the bricks along with countless other businesses that depend on the auto business. We can assume that Toyota,Honda, etc would have stepped in and bought much of the auto business and franchisees leaving them with an overcapacity that would lead to more layoffs and factory closings. Any economic change often has a ripple effect that will reverberate through out the economy for years, with unforeseen effects.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
We will never know what 'might have been' had steps not been taken to limit the damage. Consider that with out the Auto Bailout, over 1,100,000 more auto workers would have hit the bricks along with countless other businesses that depend on the auto business. We can assume that Toyota,Honda, etc would have stepped in and bought much of the auto business and franchisees leaving them with an overcapacity that would lead to more layoffs and factory closings. Any economic change often has a ripple effect that will reverberate through out the economy for years, with unforeseen effects.
Some steps taken, like TARP, did have immediate effect. Things that were learned from the great depression, like the formation of the FDIC. also lessened the blow. But some steps taken ended up softening the landing but left a bigger mess to clean before things could get moving again.
My point is this recession, in the way it effects people and the country, does NOT approach what the great depression did. With our relatively soft, " I want it now" society, if they did experience the equivalent of what Americans experienced during the great depression, you would have riots and destruction in the streets thatwould make the LA riots look like an outdoor Bridge club social.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
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