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Thread: U.S.: In state of denial over taxes?

  1. #201
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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by Catawba View Post
    Because they have much more income than they have had for 20 years. However, they are paying less than they would without the tax breaks given to them.
    No, It is adjusted with inflation and total GDP... the reason is because of the economic growth.
    Quote Originally Posted by Catawba View Post
    That is becuase taxes have little to do with growth of the GDP. The annual growth rate was much higher after the Clinton tax increases, so your point is moot.
    WHAT? this demonstrates that taxes DO have an effect with the growth of the GDP. After the tax cuts the GDP grew by a lot... this happend in the Reagan years as well.

    Quote Originally Posted by Catawba View Post
    Its a strecth to even call it a recession as there we didn't have 2 consecutive quarters of negative growth.
    It was enough to trigger a response by the president to do an economic plan, similar to obama's stimulus, but only comprising of cutting taxes.
    Quote Originally Posted by Catawba View Post

    Tax cuts were supposed to create jobs and increase revenues beyond the norm but they didn't. That and too much spending created $5 trillion in debt weakening the dollar and the economy which contributed to the Great Recession.
    "beyond the norm" is your key words... it wasn't meant to increase growth above the average amount but to continue the same amount of growth, because the fear of a minor recession.
    The $5 trillion in debt was to fund the wars that was greatly supported by most of the american people and all of the presidents intel and our allies intel, and your current president is still continuing the war in Afghanistan and helped out with a brand new one.
    But that debt was not the reason for the recession... not at all... probably didn't help but you should research more on that.

    Quote Originally Posted by Catawba View Post
    Those jobs made no impact on the unemployment rate... the government can't create jobs with any efficiency but only create the atmosphere for the people to create jobs.

  2. #202
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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by OpportunityCost View Post
    Here is some history for you. Historically its like ice skating uphill to get revenue past 17% of GDP. Raising taxes simply raises the amount of money people will put into avoidance and judge their ROI via risk by locating elsewhere or not expanding when its an option. Its not just taxes anymore, its also regulatory burden, legislative red tape, and uncertainty.

    Raise GDP and you will raise federal revenue. It really is that simple.
    The US is a low tax nation, so I dont see the point of their moving elsewhere. In addition, if they want access to our markets, then they have to do business here.

    However, I do agree with you when you suggest increasing GDP to increase revenues. It is the most effective way to do that. However, it's not the only way.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  3. #203
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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by PeteEU View Post
    On paper yes as in "Here is the corporate tax rate number".. then yes. But in reality the tax burden is one of the lowest in the world due to loopholes, subsidies and so on.
    And of course the US is the only country with loopholes. The rest of the world is as honest as the Virgin Mary.

    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by American View Post
    And of course the US is the only country with loopholes. The rest of the world is as honest as the Virgin Mary.

    The fact is that we have the second lowest effective corporate tax rate (that means taking loopholes into consideration) in the industrialized world. Only Iceland is lower.

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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by sangha View Post
    The US is a low tax nation, so I dont see the point of their moving elsewhere. In addition, if they want access to our markets, then they have to do business here.

    However, I do agree with you when you suggest increasing GDP to increase revenues. It is the most effective way to do that. However, it's not the only way.
    You come from the false premise that we should be comparable to other countries. That's wrong, we're not about how much tax the govt can get; we about how little it needs to function.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by AdamT View Post
    The fact is that we have the second lowest effective corporate tax rate (that means taking loopholes into consideration) in the industrialized world. Only Iceland is lower.
    Good, let's lower down to Iceland's level. But you missed my point nonetheless.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by American View Post
    Good, let's lower down to Iceland's level.
    Right, then we'll capture all of those corporations who are flocking to Iceland.

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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by American View Post
    And of course the US is the only country with loopholes. The rest of the world is as honest as the Virgin Mary.

    Sure they have loopholes, but as the charts in the OP show, in the end they pay less than in other countries.

    The point is to not focus on the top marginal rates, and instead look at what they are really paying, as demonstrated in the OP.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by American View Post
    You come from the false premise that we should be comparable to other countries. That's wrong, we're not about how much tax the govt can get; we about how little it needs to function.
    We can compare our tax rates to other countries. What makes you think we can't?

    And comparing our effective tax rates to those of other nations does not mean that we can't talk about what is needed to function.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  10. #210
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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by sangha View Post
    We can compare our tax rates to other countries. What makes you think we can't?

    And comparing our effective tax rates to those of other nations does not mean that we can't talk about what is needed to function.
    Read my post, I didn't say that.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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