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

  1. #271
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    Re: U.S.: In state of denial over taxes?

    I guess it was actually the World Bank who said that, but I suppose there must be some interpretation involved in comparing effective, as opposed to statutory, tax rates. In any case, it's clear that our effective (i.e., real) corporate tax rate is on the low end of industrialized countries. What we should do is make that effective rate the statutory rate and then eliminate all loopholes. That would clarify the situation, reduce accounting expenses and distortions from tax avoidance, and it would probably improve the employment situation a (very) little bit.

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

    Quote Originally Posted by Catawba View Post
    Have you somehow missed all the Republican proposals to cut benefits to seniors through SS and Medicare in order to continue the tax breaks for the wealthy???
    Do you mean the cuts in the Health Care Act? Maybe you missed those.

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

    Quote Originally Posted by AdamT View Post
    I guess it was actually the World Bank who said that, but I suppose there must be some interpretation involved in comparing effective, as opposed to statutory, tax rates. In any case, it's clear that our effective (i.e., real) corporate tax rate is on the low end of industrialized countries. What we should do is make that effective rate the statutory rate and then eliminate all loopholes. That would clarify the situation, reduce accounting expenses and distortions from tax avoidance, and it would probably improve the employment situation a (very) little bit.
    I'm all in favor of getting rid of the loopholes, as long as the statutory rate is brought down to compensate for it.
    If you expect people to be rational, you aren't being rational.

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

    Quote Originally Posted by OpportunityCost View Post
    Do you mean the cuts in the Health Care Act? Maybe you missed those.
    No cuts to benefits for seniors. Just cuts to insurance companies.

    No wonder the right hates it
    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..

  5. #275
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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by OpportunityCost View Post
    Do you mean the cuts in the Health Care Act? Maybe you missed those.
    Yeah, the death panels.

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

    Quote Originally Posted by Catawba View Post
    Have you somehow missed all the Republican proposals to cut benefits to seniors through SS and Medicare in order to continue the tax breaks for the wealthy???
    I think it's a good idea to stop giving bennies to people who have never paid a nickel into SS, or Medicare. Maybe that's the reason that they're going belly up. Whatcha think? Brings us back around to the whole, "spending more than you bring in", thing.

  7. #277
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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by nijato View Post
    One of the big disconnects I see is conservatives arguing about high corporate and personal tax rates, while liberals point to low effective tax rates, especially for the wealthy and corporations. Here's an idea: why don't we stop using the tax code as a way to incentivize or reward certain behaviors and start using it as a tool to equitably collect revenue for appropriate government functions? Yes, we'll all fight about what's "appropriate," but let's agree that we need a tax code overhaul that simplifies everything. I hate having to play games with FSAs, IRAs, and whatever other alphabet soup I can to avoid taxes. Let's just let people spend their money how they want, without massive tax implications.
    I would agree. Stop taxing earned income differently than investment income. Stop giving people a tax credit for buying a go cart rated for highway speeds. Just stop the stupid. I happen to see a lot of tax returns, and I also see a lot of tax fraud. The best thing we can do is to simplify the system significantly. Make it a simple graduated income tax based on income. Don't tax different types of income differently. Don't put extra taxes on some kinds of income. Basically, let's copy the Japan tax system?

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

    Quote Originally Posted by cpwill View Post
    that is not true. the special notes issued to the Trust Fund are guaranteed only by the Word of Congress (you are free to decide for yourself how much that is worth), not the Full Faith and Credit of the United States.
    Thanks for you opinion internet guy.

    "Far from being "worthless IOUs," the investments held by the trust funds are backed by the full faith and credit of the U. S. Government. The government has always repaid Social Security, with interest. The special-issue securities are, therefore, just as safe as U.S. Savings Bonds or other financial instruments of the Federal government."
    Trust Fund FAQs



    even the AARP now agrees that popping the cap won't get you enough to fund SS. benefits will have to be reduced

    because a surplus isn't coming.
    You are behind in catching up with the news. This clarifies their position: "the June 17 article stated that AARP was ready to drop its opposition to cutting Social Security benefits. So much for a slow summer Friday news cycle. Before you could utter the phrases “raise the retirement age” or “cut the cost of living adjustment,” a coalition of advocacy groups against entitlement cuts had lodged its displeasure with AARP. And that’s when AARP shot back with a press release titled “AARP Has Not Changed Its Position on Social Security.” Confused? Here’s a cheat sheet for what’s really going on:

    * AARP is adamant that Social Security not be part of any discussion of deficit reduction.

    * But AARP is open to discussing ways to shore up Social Security so it will not be a drain on federal coffers come 2036. "



    Read more: Did AARP Really Sell Out Seniors on Social Security? - CBS MoneyWatch.com
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  9. #279
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    Re: U.S.: In state of denial over taxes?

    Quote Originally Posted by OpportunityCost View Post
    Do you mean the cuts in the Health Care Act? Maybe you missed those.
    Please list the senior benefits that were cut in the health care reform.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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

    Quote Originally Posted by apdst View Post
    I think it's a good idea to stop giving bennies to people who have never paid a nickel into SS, or Medicare. Maybe that's the reason that they're going belly up. Whatcha think? Brings us back around to the whole, "spending more than you bring in", thing.
    What are talking about? SS takes in much more than it pays out in benefits. It helped finance the GOP war in Iraq so the wealthy could get tax cuts. Time to pay it back.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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