GOP Texas Gov Hates America, Talks Seceding

[nathanm]

I know that cost of labor is an issue too but a lot of IT jobs are moving to Ireland for the same wage because the business pays much lower taxes.

Yet oddly, corporate tax receipts in the US are far lower as a percentage of GDP than other OECD states. Things that make you go 'hmm...'

[swake]

I know that cost of labor is an issue too but a lot of IT jobs are moving to Ireland for the same wage because the business pays much lower taxes.

This is the nominal tax rate, which is meaningless.

From the Treasury Department, page 42. Corporate taxes as a percentage of GDP, basically the effective tax rate.

According to Treasury, the United States has the second lowest effective rate in the Industrialized world, at only 2.2% of GDP.

http://www.treas.gov/press/releases/reports/07230%20r.pdf

[FOTD]

Taxes for businesses are higher here than many countries and need to be cut dramatically.  Cutting taxes on individuals does not help as much when you lose your job to someone overseas.  This is common sence but people still don't get it.

I think the bankers are corrupt and should be punished and not rewarded with bailouts.  Let the banks in trouble file for bankruptcy like any other business.  The financial system will collapse anyway because it is based on worthless debt.  They need to find a better system without the federal reserve.

Fake Teabaggers Are Anti-Spend, Anti-Government: Real Populists Want to Stop Banks from Plundering America

http://www.alternet.org/workplace/136688/fake_teabaggers_are_anti-spend,_anti-government:_real_populists_want_to_stop_banks_from_plundering_america/


"The tea parties are AstroTurf -- fake grassroots. But there is a real movement growing against corporate greed and government malfeasance."

"Last year, the Wall Street Journal exposed FreedomWorks' role in sponsoring AngryRenter.com, a site designed to imitate an amateur blog with a plutocrat's agenda: to shoot down a $300 billion bill meant to help distressed American homeowners. Freedomworks and its clients understood that if the super-wealthy Republicans who opposed the bill were fronting the campaign, it wouldn't fly with regular Americans buckling under the housing crisis, so they set up Angryrenter.com to give the impression that millions of ordinary Americans were the ones opposing it. The bill passed, but AngryRenter.com served as a warm-up exercise for the Tea Party movement."

[OpenYourEyesTulsa]

This is the nominal tax rate, which is meaningless.

From the Treasury Department, page 42. Corporate taxes as a percentage of GDP, basically the effective tax rate.

According to Treasury, the United States has the second lowest effective rate in the Industrialized world, at only 2.2% of GDP.

http://www.treas.gov/press/releases/reports/07230%20r.pdf

Calling this meaningless is smallminded but you cannot be convinced.  The US has the 2nd highest corporate rate which is 35% and growing vs. Ireland's 12.5%.  Will you still believe the tax rates are not high when they ship your job overseas?

http://www.entrepreneur.com/tradejournals/article/177275294.html

http://www.taxfoundation.org/publications/show/22917.html

[TeeDub]

Why tax businesses at all?

Oh because they pass it on to the consumer, who then believes that they aren't the ones paying the taxes....


I love hidden taxes, we should make them BIGGER!

[Gaspar]

Why tax businesses at all?

Oh because they pass it on to the consumer, who then believes that they aren't the ones paying the taxes....


I love hidden taxes, we should make them BIGGER!

Good luck. My head hurts from trying to bang that one across.  Some people are not equipped to get it.

No free business has ever paid a tax in the history of the world.  Never!

No free business will ever pay taxes unless the government steps in and sets prices, and at that point said business is doomed to fail or worse, become a government program.

The consumers are the only people who pay taxes.  Every time we levy heavy taxes on businesses, we just tax ourselves. 

[Conan71]

Good luck. My head hurts from trying to bang that one across.  Some people are not equipped to get it.

No free business has ever paid a tax in the history of the world.  Never!

No free business will ever pay taxes unless the government steps in and sets prices, and at that point said business is doomed to fail or worse, become a government program.

The consumers are the only people who pay taxes.  Every time we levy heavy taxes on businesses, we just tax ourselves. 

Now Gaspar, quit spreading untruths!  You wouldn't want people to think you were a dumbass Republican.

[cannon_fodder]

But you are forgetting that corporations are evil and need to be taxed to punish them for proving jobs and making money. 

Something like that . . .

[swake]

Calling this meaningless is smallminded but you cannot be convinced.  The US has the 2nd highest corporate rate which is 35% and growing vs. Ireland's 12.5%.  Will you still believe the tax rates are not high when they ship your job overseas?

http://www.entrepreneur.com/tradejournals/article/177275294.html

http://www.taxfoundation.org/publications/show/22917.html

Nominal tax rates ARE meaningless. Your personal nominal tax rate could be 100%, but if I then allow you deduct the first billion dollars of earnings your effective rate is 0%.

Unless you are Bill Gates circa 1999.

[Gaspar]

But you are forgetting that corporations are evil and need to be taxed to punish them for proving jobs and making money. 

Something like that . . .

No they need to be punished because the owners have nice cars and big houses.  We have to make em hurt so that the workers that really know how to run the company can take over and drive the nice cars and sit in the leather chairs. 

I guess we'll see how that works.

[guido911]

The Republican activist media is at it again.

Bwahahahaha

[guido911]

So, let me get this straight... these "tea-party" folks got no media coverage or only token coverage when former Texas governor Bush was in power...

When everybody making under $250k per year gets a TAX CUT and the tax rate for $250k and higher goes from 35% to 39.5%, this huge so-called "grassroots movement" gets play-by-play coverage by Fox.... 39.5% is still LESS THAN THE TAX RATE FOR THE FIRST SIX YEARS OF RONALD REAGAN....

Guess it's only oppressive government when the Republicans are not in power......

The Republican activist media is at it again.

Stop, once and for all, that stupid and wholly inaccurate meme that only the "rich" are getting tax increases. Those "have nots" out there, apparently such as yourself, have no clue as to the tax increases on business and certain sectors of our economy which will most certainly be passed down to all of us (rich or not) in the form of higher prices. Again, here are some of the taxes that are coming:

1) On people making more than $250,000.

$338 billion - Bush tax cuts expire
$179 billlion - eliminate itemized deduction
$118 billion - capital gains tax hike

Total: $636 billion/10 years

2) Businesses:

$17 billion - Reinstate Superfund taxes
$24 billion - tax carried-interest as income
$5 billion - codify "economic substance doctrine"
$61 billion - repeal LIFO
$210 billion - international enforcement, reform deferral, other tax reform
$4 billion - information reporting for rental payments
$5.3 billion - excise tax on Gulf of Mexico oil and gas
$3.4 billion - repeal expensing of tangible drilling costs
$62 million - repeal deduction for tertiary injectants
$49 million - repeal passive loss exception for working interests in oil and natural gas properties
$13 billion - repeal manufacturing tax deduction for oil and natural gas companies
$1 billion - increase to 7 years geological and geophysical amortization period for independent producers
$882 million - eliminate advanced earned income tax credit

Total: $353 billion/10 years


http://blogs.abcnews.com/politicalpunch/2009/02/obamas-budget-a.html

Also, I guess you just forgot about the huge tax increase on tobacco that just went into effect as well to fund s-chip, which will hit the have nots hardest since they are the ones doing most of the smoking.

These tea parties are not just about taxes. It's also about out of control spending in the form of bailouts, "stimulus", an estimated more than $1.5 TRILLION deficit this year (almost four times what Bush's deficit ran in his final year), and the omnibus budget that had thousands of earmarks (including at least one from Dear Leader who promised earmark reform). Well, at least we got that all important $1.7 million for pig odor research in Iowa, which in these hard economic times is certainly a priority and a great way to spend my money. Either read up on what is going on or turn off MSNBC if you are going to comment on tax policy or tea parties.

[nathanm]

(almost four times what Bush's deficit ran in his final year)

Does that $458 billion deficit or whatever it is include the supplemental appropriations bills, or is it just the deficit resulting from the "real" budget?

[Cats Cats Cats]

No free business has ever paid a tax in the history of the world.  Never!

This is completely untrue.  Except for companies in regulated industries.  Companies (should) price their items for MAX PROFIT (current and future).  It takes like $20 to make an IPOD shuffle that they sell for $89.99 if they raise the taxes on them they will probably suck up the extra cost and make a little less.  For some reason everybody acts like 1) Cost has no bearing on the qty sold 2) That every company sells everything for cost or has a very low profit margin.

[nathanm]

Calling this meaningless is smallminded but you cannot be convinced.  The US has the 2nd highest corporate rate which is 35% and growing vs. Ireland's 12.5%.  Will you still believe the tax rates are not high when they ship your job overseas?

Are you unable to grasp the concept of deductions? Or that different countries call different things "income?" Or that depreciation is handled differently in different countries? That's why GDP percentage is a far better way of figuring things out than just looking at the top marginal rate.