Fixing Inequality through Taxes

Another conservative posted the "wisdom" of a 15 year old on a video not long ago. Except she didn't even know the difference of something as basic as the difference between the deficit and the debt. Which is just as wrong as the blurb with the 9 year old about the Govt selling a thousand $100 bills for $12 to private bankers.

Based on the posts I've read here, it is really not surprising to me that many conservatives seem to be impressed with childish views.

 

No Thing but Diversion from the right; i got it.

 

It's not the CEO's money, he/she is just a paid employee of the company.

And they saw those gains when Republicans controlled the government and they have fell since the Democrats took control.

It's not your wealth, you get paid what you agreed to work for and you pay is an expense to the company. You have no claim to the wealth, just for what you agree to provide your labor.

So if the company loses money this quarter are you willing to not get paid? If it is a publicly traded company then but the stock and take the risk and rewards as they come. Else take the paycheck you get for providing labor, you know being a company expense.

It most certainly has a market value and part of that value is a reflection of what the value of the assets for which the CEO is responsible. You see a bad decision on the person working on the assembly line might cost the company a couple of thousand dollars, while a bad decission on the part of the CEO could cost millions or even billions. When are capable of running a billion dollar company and make those decisions to protect the assets of the owners and bring them a fair return then YOU can make those big bucks. As it is I bet you wouldn't have a clue nor have the talents necessary to do so.

So spare us all the envy and jealousy.

 

Ooh, nice insult post.

I'm sure it'll raise your stature around here.

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Diversion post? Perhaps you should have actually responded to the post in which I used the word drugs, instead of requiring everyone to guess WTF you're talking about.

 

it's ok; i already took my anti-hypocrisy medication, too.

 

You may want to double that dose.

 

i don't mind smoking two joints before i smoke two more.

 

Please support your claim that wealth is being redistributed to the wealthy by telling us 1) who specifically is doing the redistribution and 2) how they are withdrawing money from the bank accounts of the middle class.

So you should start a business and pay your workers a wage you consider not to be crappy.

Yes, the richest 1% are now earning 20% of the nations income. Do you think they should earn less so that the nation earns less?

As much as they earn.

 

http://www.dailykos.com/story/2015/04/16/1378092/-Top-15-Fortune-500-Tax-Dodgers


Top 15 Fortune 500 Tax Dodgers
byDoctor JazzFollowforDoctor Jazz
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It's April 15th -- tax day. The day of reckoning for many Americans, unless you are really rich or a Fortune 500 company. Today Bernie Sanders spoke at a Capitol news conference in front of a photo of the notorious Ugland House. Unless you're a wealthy tax dodger it is unlikely you would have heard of the Ugland House, the Cayman Islands office that is the registered address of more than 18,000 companies. 18,000 companies all avoiding paying taxes to the U.S. government.

Nobody is really doing business there. It's just a postal address to allow the companies to claim that they do business in the Cayman islands which has no corporate income tax. Source: Bernie Sanders
At a time when American corporations are making record profits, many large corporations are paying no federal income taxes. According to a study by Citizens for Tax Justice, 15 American companies, despite earning large profits doing business in the U.S., paid no taxes in 2014.
As a whole, the 15 companies paid no federal income tax on $23 billion in profits in 2014, and they paid almost no federal income tax on $107 billion in profits during the past five years. All but two received federal tax rebates in 2014, and almost all paid exceedingly low rates over five years.
Source: Newsmax
Following are the top 10 tax dodgers from 2014.
1. Media giant Time Warner paid nothing in federal income taxes last year when it received a rebate of $26 million from the IRS even though it made $4.3 billion in U.S. profits.
2. CBS made $1.8 billion in U.S. profits last year, but instead of paying federal income taxes it received a rebate from the IRS of $235 million.

3. Xerox made $629 million in U.S. profits in 2014, but received a tax rebate of $16 million from the IRS.

4. Prudential Financial made $3.5 billion in U.S. profits last year, but instead of paying federal income taxes, it received a tax rebate of $106 million from the IRS.

5. The toy maker Mattel made $268 million in profits last year, but received a tax rebate of $46 million from the IRS.

6. Priceline.com not only paid nothing in federal income taxes last year, it received a tax rebate of $9 million, even though it made $73 million in profits last year

7. Pacific Gas and Electric not only paid nothing in federal income taxes last year, it received a tax rebate of $84 million from the IRS even though it made $1.8 billion last year.

8. Wireless technology maker Qualcomm made $3.2 billion in U.S. profits last year, but instead of paying federal income taxes, it received a refund from the IRS. of $98 million.

9. General Electric made over $5.8 billion in profits in the U.S. last year, but paid just 0.9 percent of that amount — less than 1 percent — in federal income taxes.

10. Jetblue Airways made $615 million in U.S. profits last year but paid just 0.4 percent of that amount — less than half of 1 percent — in federal income taxes. source: Bernie Sanders

Below is a list of the top 15 tax dodgers from 2010 through 2014.

Source: Citizens for Tax Justice
Not only is it is outrageous that these companies did not pay taxes, but all but two of them got refunds as well. What that means is the rest of us are subsidizing their businesses, when they clearly don't need our help. What it means is they are stealing from us. I will close with the words Senator Sanders, a great patriot, champion of the American people.

“Instead of balancing the budget on the backs of the elderly, the children, the sick and the poor, as the Republicans in Congress have proposed, we need a tax system that demands that large, profitable corporations and the wealthy start paying their fair share in taxes.”





Welfare for the rich ~ that's the problem in this society.

 

Well, market wages for middle class employees have either fallen or flattened, which still equates to falling after inflation kicks in, so basically a worker that had a specific value at one time is now paid less than that, how is that fair? CEO salaries increased, how did they suddenly become more valuable? Also I thought you conservatives stated automation was good, but now you're stating it's helped unemploy people and drive down wages? A combination of wall street and large CEO salaries has contributed to the declining wage. The ability to outsource to unfair conditions has lowered wages, but you keep stating it's somehow a good thing. Obviously a market rate exists, but naturally it is constantly pushed down to chump change. Minimum wage hikes and unions do a whole lot to keep this at bay, and contrary to conservative arguments, neither harm employees. Taxes can easily help low income individuals raise up the income ladder through better education, healthcare that prevents disability, public transportation, and food stamps so their needs are met while they're improving themselves. Our effective tax rate on the rich has been the lowest in history since 1920s beginning in the 80s yet the majority of the population has gotten poorer and poorer and it only began after the reganomics crap. Even during liberal presidencies this hasn't really changed, our nation has done awful under the whole "slash taxes and regulations" mentality.

On your "take any CEO salary" comment, Wal-Mart recently raised wages to $10 an hour, and it only cost the company $1 billion in profits out of $120+ billion. Hardly a drop in the bucket. It's not just CEO compensation.

 

Allow me to refer you to this article, written for the 1% themselves http://politicalgates.blogspot.com/2011/12/citigroup-plutonomy-memos-two-bombshell.html

 

Great news, the less money companies pay to the govt in taxes, the more they have to build, create jobs, invent, expand, etc. Why are liberals so excited when all the money in the US goes to the govt. Do you really think the govt is better at spending money than the people?? Not a chance. This is great news hearing that all this money is staying in the hands of free people rather than going down the bottomless pit that is govt.

 

why did you dodge my question?

 

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Bad management and engineering certainly played their roles. But it's obvious why the 1% apologists would blame unions.

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You don't always have good government.

 

You mean the Republican cap gains tax cuts resulted in two devastating speculative investment bubbles?

You have an point, but I'd have to see proof.

 

Very true

 

What happen was Free Trade and NAFTA. When you take away thousands of good paying factory jobs and move them to Mexico and the Far East, you are going to see wages go down. What also hurt was when Carter started deregulation and forbid Federal Unions to strike or bargain for wages. That help lower prices on hauling goods and transportation, but played hell on unions.

You raise taxes up to high and the rich will leave. Many have left already. France learned you can't tax the rich to death, they'll leave.

 

I guess extreme legacy costs had nothing to do with it. Maybe these are the "bad management" you are speaking of.

 

Look at France and taxing the rich. Thousands Leave U.S. Over Taxes---5 Rules If You're ...

[video]http://www.cbn.com/tv/3255110732001 [/video]


Thousands Leave U.S. Over Taxes---5 Rules If You're ...
www.forbes.com/.../thousands-leave-u-s-over-taxes-5-rules-if-you...
Forbes
Aug 12, 2013 - People also took note of wealthy socialite Denise Rich, whose husband Marc was pardoned by ... Still, leaving America has a special tax cost.

 

According to the "Christian Broadcast Network"?

So where are they going? Somolia?

Let's boil down your argument. You're arguing we have to let the richest get more and more of the nation's income and wealth - because the 1% getting about 20% of the nation's income and having about 40% of the nation's wealth isn't enough for them - because if we don't, they'll take all the wealth they already gotten with "trickle down" policies and run off with it?

Sounds a bit coercive, doesn't it?

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Income inequality started skyrocketing in 1981, many years before NAFTA was passed, much less had an impact.

No, something else happened that year.

 

Well lets look at the economy under Carter, Reagan and Bush.

http://www.ifindkarma.com/attic/LEAD/compare

 

Why?

........

 

You seem to suggest that things went down under Reagan, look and see if that's true.

 

I didn't seem to suggest that at all.

What I point out is the evidence proving that income inequality skyrocketed beginning with the Reagan "trickle down" revolution.

Look to see if that is true:

 

Your chart means absolutely nothing. It's life. In sales, the top 20% make 80% of the sales as well.

You gonna make a law against that too, liberal?