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Thread: State of the Union Address

  1. #1301
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    Re: State of the Union Address

    Quote Originally Posted by OpportunityCost View Post
    ...Partnerships are taxed the same way. Once when they make it and once when they collect it for use from the business.

    Sangha, please reply to the percentage of a business' money that a government should take, Im curious as to your answer and rationale. Same for you Tettsuo, how much do you think is enough? And why?
    You are dead wrong about that. There is no over all tax on a partnership. Each partner is taxed according to his or her partnership share.

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    Re: State of the Union Address

    Quote Originally Posted by Tettsuo View Post
    Here's a prime example of someone not understand the legal entity thing. The corp isn't taxed twice. It's taxed once and the owners are taxed once. If they don't want this to be, go for a Partnership.
    that is disingenuous

    the same pool of money created by a private corporation owned by shareholders is taxed twice by the same governmental entity

    that is the point

    private wealth is taxed twice without any double transactions or transfers of benefit

    so you approve of that pool of money being diminished by 61% by the government

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    Re: State of the Union Address

    Quote Originally Posted by OpportunityCost View Post
    ...Partnerships are taxed the same way. Once when they make it and once when they collect it for use from the business.
    Not true at all. AdamT provided the details.

    Sangha, please reply to the percentage of a business' money that a government should take, Im curious as to your answer and rationale. Same for you Tettsuo, how much do you think is enough? And why?
    I honestly don't know. But I do know it must not be so much that it becomes onerous for a company to function.
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    Re: State of the Union Address

    Quote Originally Posted by TurtleDude View Post
    that is disingenuous

    the same pool of money created by a private corporation owned by shareholders is taxed twice by the same governmental entity

    that is the point

    private wealth is taxed twice without any double transactions or transfers of benefit

    so you approve of that pool of money being diminished by 61% by the government
    No that is NOT the point. The point has been made over and over and over to you that there is a legal distinction between the legal entity of a corporation which has its own separate legal obligations and that of an individual who gets dividends from that corporation as a share holder.

    Why do you resist that reality?
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    Re: State of the Union Address

    Quote Originally Posted by MaggieD View Post
    These are completely different types of transactions. If you carry your example to it's natural conclusion, the government ends up getting 99.999999% of every dollar. And that's not true. In addition, in your examples using sales tax, completely different animal. Completely different animal.

    We'll have to agree to disagree on this one, Haymarket.

    (You always make me smile.)
    I was going to tell you why you were wrong. then I read the end of your post.

    So we agree to disagree.
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    Re: State of the Union Address

    Quote Originally Posted by AdamT View Post
    You are dead wrong about that. There is no over all tax on a partnership. Each partner is taxed according to his or her partnership share.
    So you dont pay quarterlies and then pay your withdraws as income personally? Dont get audited bud.

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    Re: State of the Union Address

    Quote Originally Posted by haymarket View Post
    No that is NOT the point. The point has been made over and over and over to you that there is a legal distinction between the legal entity of a corporation which has its own separate legal obligations and that of an individual who gets dividends from that corporation as a share holder.

    Why do you resist that reality?
    that legal distinction is a piss poor argument used to justify the government getting two cracks at money earned by a corporation for the benefit of its owners

    tell me why you support the government getting 610K out of a profit of 1 million

    don't you understand that I realize it is how the law is set up and the law is blatantly unfair and allows parasitic government behavior.

    the government does nothing to justify taking 61% or even 44.74% (the current amount) of the money earned by a corporation for its owners

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    Re: State of the Union Address

    Quote Originally Posted by OpportunityCost View Post
    So you dont pay quarterlies and then pay your withdraws as income personally? Dont get audited bud.
    There is no tax on partnership profit, outside of what individual parnters pay -- period. Get yourself an accountant.

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    Re: State of the Union Address

    Quote Originally Posted by TurtleDude View Post
    that legal distinction is a piss poor argument used to justify the government getting two cracks at money earned by a corporation for the benefit of its owners

    tell me why you support the government getting 610K out of a profit of 1 million

    don't you understand that I realize it is how the law is set up and the law is blatantly unfair and allows parasitic government behavior.

    the government does nothing to justify taking 61% or even 44.74% (the current amount) of the money earned by a corporation for its owners
    Umm, how are you calculating that 61%?

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    Re: State of the Union Address

    http://www.whitehouse.gov/sites/defa...s/hist04z2.xls

    Let's talk about defense spending. It was 46.9% of the budget in 1962, and 19.3% in 2010. That's 59% less, and people still think it should be cut even more. Social Security (off-budget) was 13.4% in 1962, and 19.8% in 2010. That's 48% more, and no one wants to touch that.
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