81 Comments
Feb 13·edited Feb 13

1). Why do corporations have more rights than people?

2). Why do these mope advisors refer to tfg as "the president?"

3). Does this country need an enema. Y/N?

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Reagan cut that tax rate from 70% to 35% and Trump cut it to 21% and now claims we need it to only be 15%? Their only response to the yawning gap between expenses and revenue on the federal government‘a expense sheet is to say welp, we need to cut services even more!

No. While Biden was blocked from increasing taxes back to where they should be by Sinema and Manchin’s misplaced insistence on retaining the 60 votes filibuster cudgel that prevents a simple majority vote for almost everything in the Senate, we need to abolish the filibuster and fix so many things that need fixing, including tax rates and giving the IRS the funding it actually needs in order to hold corporations and rich people to account and make sure everyone pays their fair share.

We need to restore the government spreadsheet to where they were back in 1980, at a minimum. 45 years of starving society and starving the government is quite enough.

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founding

Of course the aforementioned CEO's are effusive about their profits, gleeful about giving top level employees stock buybacks, and eager to lower their current tax rate! Meanwhile, the demands on our economy are constantly growing, and most of the demands are not negotiable--climate disasters, overflow of migrants who risk death to find their ways here because they are avoiding certain death in their native countries, and health emergencies (remember covid?) and outbreaks. Excessive wealth seems to always create heartlessness, indifference to others extreme suffering, and absence of generosity. For this reason alone, increasing the tax rate is appropriate. Thank you for the details about corporate taxation that help us to make clearer judgments and form wiser opinions.

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Some days, like today, it's just overwhelming to see state governments turn down money for hungry children because it's charity. The same mindset looks at the tax breaks for wealthy corporations and billionaires and think they deserve a bigger tax cut, but that is just good business, not charity.

The divide between rich and poor widens in both money and heart.

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In this case it’s economic policy, but notice how we’ve become so conditioned to reading pieces in which there is no consensus, let alone clear policy statements, to help voters determine Trump’s future actions. He has no principles or real policy ideas, of course—other than self-interest—but it’s just a given that voters don’t know what he’s going to do. And oracles like NYTimes, CNN, etc., pretty much OK with that.

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lol.... What difference does the tax rate matter if they NEVER pay taxes? None. The system isn't broken - it's rigged to the whopping sum of $50 trillion, and it's probably more than that! ------- "Beneath the surface of our financial system lies an unseen world worth trillions of dollars. Among today’s threats to democracy, it is one of the gravest and least acknowledged. A metastasizing culture of tax avoidance by corporations and the wealthy has weakened national values, institutions, and goals across the West while fueling inequality and empowering the enemies of democracy at home and abroad. Governments need to take dramatic action to close down this parallel financial system, criminalize its enablers, and reassert their sovereignty.

Only recently have headline-making insider leaks such as the Panama Papers (2016), Paradise Papers (2017), and Pandora Papers (2021) begun to lay bare the system’s workings. Millions of documents became available detailing the offshore dealings of companies such as Apple, Facebook, McDonald’s, and Walt Disney, as well as people such as British royals, former U.S. Commerce Secretary Wilbur Ross, and former International Monetary Fund chief Dominique Strauss-Kahn. The totality of these revelations shows massive tax avoidance, the concealment of kleptocratic loot, and the systemic avoidance of the rule of law. These leaks have given us only a keyhole view into a much bigger industry, which the economist James Henry estimates at more than $50 trillion." ------- https://foreignpolicy.com/2023/11/13/capitalism-financial-secrecy-corruption-democracy/

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The fact remains that the very people (voters) who need to hear and accept this as the truth are so far removed from reality, thanks to their affinity to a dictator-wannabe and his cult, that this is like spitting into the wind in a hurricane. THAT is the real problem.

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So, basically, Citizens United anointed corporations as individuals for the purpose of campaign contributions. But these corporations don’t have to pay taxes - even without the loopholes, at the same rate as individuals. I wonder if individuals can incorporate themselves and get in on that action?

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And Americans wonder why they are paying higher prices for goods and services. We are being price gouged left and right. Greedflation.

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Feb 13·edited Feb 13

I'm guessing most of the imbalance is due to tax-loss carryforwards. The correct approach would be setting some minimum tax rate that limits how quickly tax-loss carryforwards can be used.

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'Corporations are people, my friend.' Romney, not Ronna Romney

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Feb 13·edited Feb 13

I don't think corporations should be paying high taxes. The left hates to hear it, but corporations DO employ people. We should encourage corporate investment with low tax rates. The problem is that corporations don't use tax savings to grow/improve their business. The problem is personal enrichment, and the expectation that shareholders should see 20% Y/Y returns. We want to encourage corporate investment, while discouraging efforts to siphon money into personal bank and brokerage accounts.

It is possible to encourage investment AND discourage grift: reinstate the ban on stock buybacks, peg executive compensation to some multiple of the lowest-paid employee (e.g. 40:1, incl. the par value of stock options), force boards to seat 50% mid- and low-level employees on a rotating basis, trim LLC protections for mismanaged companies, etc. As long as corporate investments are invested, instead of stolen, the capital is more productive in the private sector than it is routed through DC.

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Feb 13·edited Feb 13

The last 40+ years of Neoliberal ideas and Neoliberal propaganda have tricked us in our society. The numbers are in and can be compared to the prior 40 years. Robert Reich and Thom Hartmann write wonderful economic substacks about how and what has happened.

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Trump’s 2017 Tax Cut together with Trump’s inept, incompetent, arrogant handling of Covid and corporate greed are the primary causes of the massive inflation we experienced right after President Biden was elected our President.

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I’m sorry but if ppl can’t figure why the rich whiny white rePUGliCONs want this and they control the media…DUH AND WATCHING NEWS, EVEN MSNBC IS MAKING ME FAST FORWARD THRU THE ORANGE CHEETO…SO IM NOT LISTENING…how many other ppl are doing the same. It feels like the democratic party doesn’t care because it will benefit black ppl. Melbar did a graph on wealth and white ppl got more wealth, ppl of Latin America made more than black ppl…seriously man this is such a joke!

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When America was “great” (1952) the corporate tax rate was 90%.

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