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Thread: Census finds record gap between rich and poor

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Jetboogieman View Post
    Are taxes on business being raised?
    Yes, they are. Where you been?!?
    Quote Originally Posted by americanwoman View Post
    So there is absolutely no evidence this woman, whom you called a slut, did this but you are ready to take someone's word as evidence. Guess you don't think witch hunts have to end when it's going after the certain people.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by apdst View Post
    Yes, they are. Where you been?!?
    I thought all this debate was about personal income taxes being raised for people making over 250 000 dollars a year.

    Where are taxes on business' being raised?

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Jetboogieman View Post
    I thought all this debate was about personal income taxes being raised for people making over 250 000 dollars a year.
    If that's the case, then the tax hike will effect far more than just 1% of the country. It will certainly effect all those folks who elected to become an s-corp and file their business taxes on their individual return.

    Where are taxes on business' being raised?
    When the Bush tax cuts expire, taxes will go up for corporations.
    Quote Originally Posted by americanwoman View Post
    So there is absolutely no evidence this woman, whom you called a slut, did this but you are ready to take someone's word as evidence. Guess you don't think witch hunts have to end when it's going after the certain people.

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    Re: Census finds record gap between rich and poor

    For simplicity, we'll just focus on the over-$250,000 group. Those reporting adjusted gross income of more than $250,000 to the IRS are projected to make up 2 percent of households next year,

    FactCheck.org: What percentage of the U.S. population makes more than $250,000 per year?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by apdst View Post
    When the Bush tax cuts expire, taxes will go up for corporations.
    I can't find anything that supports that. Even the WSJ treats business taxes as being separate from the Bush tax cuts expiring:

    Those pressures will be all the greater because Congress also must address the expiration of the Bush-era tax cuts at the end of 2010. Extending those tax cuts for lower- and middle-income people will create a further drain on the federal budget. So Congress could be looking to businesses as well as high-income individuals to make up some of the difference.

    Plan Would Raise Taxes on Businesses - WSJ.com

    Perhaps I'm missing something. What do you have to support your claim?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by apdst View Post
    If that's the case, then the tax hike will effect far more than just 1% of the country. It will certainly effect all those folks who elected to become an s-corp and file their business taxes on their individual return.



    When the Bush tax cuts expire, taxes will go up for corporations.
    hopefully, you are not preparing your own returns for an s corp using that approach

    the corporation has its own revenues and deductions to report. it is only the resulting taxes which are paid by the owner(s) on his/their return(s) ... pro rata based on their ownership position

    so, if the individual had income other than from the s corp, that would be reflected on the individual return and the taxable portion due from the s corp would then be added to his/her personal FTR, the result being the amount owing
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    I may be wrong, I mean I may stand before you in six months and say, ĎHey I was wrong.' I donít know that Iíll ever admit that, but Iíll find some kind of an excuse. ~ tRump
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Boo Radley View Post
    I can't find anything that supports that. Even the WSJ treats business taxes as being separate from the Bush tax cuts expiring:

    Those pressures will be all the greater because Congress also must address the expiration of the Bush-era tax cuts at the end of 2010. Extending those tax cuts for lower- and middle-income people will create a further drain on the federal budget. So Congress could be looking to businesses as well as high-income individuals to make up some of the difference.

    Plan Would Raise Taxes on Businesses - WSJ.com

    Perhaps I'm missing something. What do you have to support your claim?
    Perhaps you should read the article, before you post it.
    Quote Originally Posted by americanwoman View Post
    So there is absolutely no evidence this woman, whom you called a slut, did this but you are ready to take someone's word as evidence. Guess you don't think witch hunts have to end when it's going after the certain people.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by justabubba View Post
    hopefully, you are not preparing your own returns for an s corp using that approach

    the corporation has its own revenues and deductions to report. it is only the resulting taxes which are paid by the owner(s) on his/their return(s) ... pro rata based on their ownership position

    so, if the individual had income other than from the s corp, that would be reflected on the individual return and the taxable portion due from the s corp would then be added to his/her personal FTR, the result being the amount owing
    This is basically how an s-corp works:

    In general, S corporations do not pay any federal income taxes. Instead, the corporation's income or losses are divided among and passed through to its shareholders. The shareholders must then report the income or loss on their own individual income tax returns. This concept is called single taxation; if the corporation is taxed as a C corporation, it will face double taxation, meaning both the corporation's profits, and the shareholders' dividends, will be taxed.
    And, no I don't have an s-corp. I have a c-corp. I move money in and out of my business too much to deal with the stipulations of an s-corp. Even though I have to pay self employment taxes, it would cost me more in payroll taxes to operate as an s-corp.
    Quote Originally Posted by americanwoman View Post
    So there is absolutely no evidence this woman, whom you called a slut, did this but you are ready to take someone's word as evidence. Guess you don't think witch hunts have to end when it's going after the certain people.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by justabubba View Post
    i can catagorically say he is NOT boosting the nation's deficit by allowing the tax rate to increase on those best able to afford to pay that tax increase

    and i can catagorically say he would boost the nation's deficit dollar for dollar if he subscribed to the "fiscally conservative" republican position to borrow more money from china to afford to give billionaires a tax break

    simple arithmetic. do the math
    Providing this government...democrats, republicans, and this president access to more taxpayer dollars will translate to one thing...more spending. Thats simply fact. You give them more they will spend more...not less. You cannot possibly say it WOULDN'T increase deficit spending because that calls for you to make the assumption they wouldn't just spend more and more recklessly. And based on their current track record...you REALLY want to bank on that?

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Boo Radley View Post
    If woody Allen couldn't become Micheal Jordan, and he never could have, then there are limitations. No one says he couldn't be better than he likely is, but that there are limitations. If there are limitations, and we all are not capable of everything, some people being natually marter, or larger, or stronger, or faster, equal under the law but not with the same or even equal abilities, opportunities, or even possibilities, isn't it kind of silly to expect everyone to achieve the same success?

    Not saying we all can't work hard and do better. But let's not pretend there is a utopia where we all can be successful.
    You are adding three plus truck and getting a total of ostrich. No one can set UNREALISTIC goals and expect them to acheive them. Woody Allen cant be Michael Jordan. However there are any number of smaller players that have acheived success in the NBA. If THAT is his goal all he has to do is WORK at it. He could have been Woody Allen, NBA great alongside smaller players like Nate Tiny Archibald, SPudd Webb, J Will, John Starkes, John Stockton, and any number of great smaller point gurads and shooters.

    HARD WORK equals SUCCESS. Excuses GUARANTEES failure. Theres the stink of a whole lot of failure going around.

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