Just a thought about cutting taxes to the rich...

You Can't tax the corporations without hurting the little people, because in the end they need to make that profit back again, and thats either through laying off workers or Increasing prices.

The government puts extra taxes on the rich because if they do that they won't lose the support of the middle and lower classes and Might actually Gain votes in the lower class, while making the money they use for the "services" we "need"...

I think overtaxation as a whole is ridiculous though.

No, companies like Wal Mart find tax loopholes and exploit it.DroidPhysX

proof maybe? Unless your being sarcastic.

No, companies like Wal Mart find tax loopholes and exploit it.DroidPhysX

[QUOTE="DroidPhysX"]No, companies like Wal Mart find tax loopholes and exploit it.Fundai

proof maybe? Unless your being sarcastic.

[QUOTE="DroidPhysX"]No, companies like Wal Mart find tax loopholes and exploit it.Fundai

proof maybe? Unless your being sarcastic.

Link

Why would i be sarcastic?

"For two years, President Obama has been talking about the need for corporate tax reform, declaring that the system is too complicated and that companies pay too much. " I'm too tired to read anymore but is Obama saying the reform is going to stop giant companies from cheating AND stop overtaxing small companies forcing them to lay of people? +10 respect for Obama.Nerkcon

[QUOTE="Fundai"]

[QUOTE="DroidPhysX"]No, companies like Wal Mart find tax loopholes and exploit it.DroidPhysX

proof maybe? Unless your being sarcastic.

Link

Why would i be sarcastic?

ok, thats only one example.. The fact they lost money in the recesion also doesn't make there zero tax dollars that unreachable. Yet If taxloopholes that serious are there than they should be closed off.

That still doesn't mean that companies arn't being overtaxed to begin with though.

[QUOTE="DroidPhysX"][QUOTE="Nerkcon"]"For two years, President Obama has been talking about the need for corporate tax reform, declaring that the system is too complicated and that companies pay too much. " I'm too tired to read anymore but is Obama saying the reform is going to stop giant companies from cheating AND stop overtaxing small companies forcing them to lay of people? +10 respect for Obama.Nerkcon

ok, thats only one example.. Fundai

[QUOTE="DroidPhysX"][QUOTE="Nerkcon"]"For two years, President Obama has been talking about the need for corporate tax reform, declaring that the system is too complicated and that companies pay too much. " I'm too tired to read anymore but is Obama saying the reform is going to stop giant companies from cheating AND stop overtaxing small companies forcing them to lay of people? +10 respect for Obama.Nerkcon

Politifact begs to differ

[QUOTE="Nerkcon"][QUOTE="DroidPhysX"] Huh? Obama has cut taxes for small businesses 17 times.mattbbpl

[QUOTE="Nerkcon"][QUOTE="DroidPhysX"] Huh? Obama has cut taxes for small businesses 17 times.DroidPhysX

Politifact begs to differ

[QUOTE="mattbbpl"][QUOTE="Nerkcon"] No he didn't, my dad talked to a friend that had to lay off a bunch of people because of a new tax. If he did then apparently his idea of a 'big business' is very very small....Nerkcon

[QUOTE="DroidPhysX"]

[QUOTE="Nerkcon"] No he didn't, my dad talked to a friend that had to lay off a bunch of people because of a new tax. If he did then apparently his idea of a 'big business' is very very small....Nerkcon

Politifact begs to differ

[QUOTE="Nerkcon"][QUOTE="mattbbpl"] Which tax is he referring to?mattbbpl

[QUOTE="DroidPhysX"]

[QUOTE="Nerkcon"] No he didn't, my dad talked to a friend that had to lay off a bunch of people because of a new tax. If he did then apparently his idea of a 'big business' is very very small....Nerkcon

Politifact begs to differ

[QUOTE="Nerkcon"][QUOTE="DroidPhysX"]

Politifact begs to differ

DroidPhysX

It researches but it could still have left wing bias (or right wing bias) in stating whatever it finds. (I don't follow it so I'm not exactly sure how it works)

Just saying nothing has no bias.

Giant companies carve out tax loopholes so they can avoid taxes.

The best bet for the economy would be to close all the tax loopholes and lower the corporate tax rate. But most republicans refuse to remove tax loopholes.

The dirty little secret is that corporations don't actually pay their taxes, their customers do. Here is how it works.

Lets say I own the ACME Widget Company. We make widgets. I know it costs me $1 in material, labor and overhead to produce a widget. I also want to make 25 cents in profit off each widget in order to grow my company. I also know that the govt will take 10% of my profit in taxes. How do I price my widgets?

25 cents divided by 0.9 is 27.8. If I sell my widgets for $1.28, I report 28 cents in profit, the govt takes their 3 cents (10%) and I am left with 25 cents.

So, who paid the 3 cent tax on my profit from selling the widget? The customer that bought the widget.

[QUOTE="DroidPhysX"] If you've followed politifact, you would know it researches a major claim by virtually anyone. The Left or the RIght. How exactly is it left wing if i trust it? :?Nerkcon

Giant companies carve out tax loopholes so they can avoid taxes.

The best bet for the economy would be to close all the tax loopholes and lower the corporate tax rate. But most republicans refuse to remove tax loopholes without lowering the tax rate.

SoBaus

PolitiFact is awesome! I plan to get half of my news from it for now on. (The other half will come from ONN. :P))Nerkcon

[QUOTE="Nerkcon"]PolitiFact is awesome! I plan to get half of my news from it for now on. (The other half will come from ONN. :P))mattbbpl