Page 4 of 5 FirstFirst ... 2345 LastLast
Results 31 to 40 of 42

Thread: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

  1. #31
    Student
    Join Date
    Aug 2010
    Location
    98053
    Last Seen
    04-19-15 @ 03:17 AM
    Gender
    Lean
    Other
    Posts
    264

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by apdst View Post
    This loopholes doesn't have anything to do with tax rates. That was the point I was making in my original post.
    but you said:

    One has to wonder what unintended conciquences would come along with closing this loophole.
    I was just pointing out that the low effective tax due to shifting income is the unintended consequence.

    Random thought. Corporations pay no federal income tax. Instead, we keep the tax rules in place and, instead of taxes, the corporation has to pay a dividend to their shareholders which is equal to the tax they would have paid to the government. Then, individuals pay ordinary income on the dividends. The dividend rate would have to go up a bit to replace the corporate tax, but it shouldn't be hard to get that number right.

    Doing it this way changes the whole dynamic. Right now, working for the benefit of the shareholders means minimizing the federal tax that is paid. With this change, working to benefit the shareholders would mean minimizing deductions rather than maximizing them. It would mean that shareholders would benefit by having the companies show profits in the US. Shareholders would want the companies to have a higher "tax" rate because they would get a major cut of the proceeds.

    If a company is not publicly traded, it pays the dividend to the government (perhaps at a discounted rate, but not a lot).

    The shareholders of large companies would then be looking for ways to reduce the loopholes.

    The effective rate the companies pay is about half the statutory rate (~35%), and the effective rate on all tax payers is about 20%. Set the tax on dividends to 45% and the statutory dividend rate at 45% and it ends up being almost revenue neutral. Stockholders would love it.

    Just a thought.

  2. #32
    Sage

    Donc's Avatar
    Join Date
    Sep 2007
    Location
    out yonder
    Last Seen
    12-06-17 @ 09:26 PM
    Gender
    Lean
    Slightly Liberal
    Posts
    9,426

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Seeing as corps now have the rights as people(thanks Supreme s)they should be taxed at the individual rate, including SS and Medicare tax.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

  3. #33
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 09:18 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by donc View Post
    Seeing as corps now have the rights as people(thanks Supreme s)they should be taxed at the individual rate, including SS and Medicare tax.
    Hell, why stop there...We all know profits are evil right? So lets just have Obama take all of them over, how's that sound?


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  4. #34
    Guru
    Diogenes's Avatar
    Join Date
    Jul 2005
    Last Seen
    10-11-13 @ 06:52 PM
    Lean
    Undisclosed
    Posts
    4,980

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by zip98053 View Post
    Random thought. Corporations pay no federal income tax.
    Corporations don't pay federal income tax now, they simply collect the taxes from their customers by way of a higher price. The myth that corporations pay (or should pay) taxes is just more sleight of hand from the redistributionists.
    "We the people are the rightful masters of both Congress & the courts, not to overthrow the Constitution, but overthrow the men who pervert the Constitution."
    - Abraham Lincoln

  5. #35
    Sage

    Donc's Avatar
    Join Date
    Sep 2007
    Location
    out yonder
    Last Seen
    12-06-17 @ 09:26 PM
    Gender
    Lean
    Slightly Liberal
    Posts
    9,426

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by j-mac View Post
    Hell, why stop there...We all know profits are evil right? So lets just have Obama take all of them over, how's that sound?


    j-mac

    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

  6. #36
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:25 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,496

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by zip98053 View Post
    but you said:



    I was just pointing out that the low effective tax due to shifting income is the unintended consequence.

    Random thought. Corporations pay no federal income tax. Instead, we keep the tax rules in place and, instead of taxes, the corporation has to pay a dividend to their shareholders which is equal to the tax they would have paid to the government. Then, individuals pay ordinary income on the dividends. The dividend rate would have to go up a bit to replace the corporate tax, but it shouldn't be hard to get that number right.

    Doing it this way changes the whole dynamic. Right now, working for the benefit of the shareholders means minimizing the federal tax that is paid. With this change, working to benefit the shareholders would mean minimizing deductions rather than maximizing them. It would mean that shareholders would benefit by having the companies show profits in the US. Shareholders would want the companies to have a higher "tax" rate because they would get a major cut of the proceeds.

    If a company is not publicly traded, it pays the dividend to the government (perhaps at a discounted rate, but not a lot).

    The shareholders of large companies would then be looking for ways to reduce the loopholes.

    The effective rate the companies pay is about half the statutory rate (~35%), and the effective rate on all tax payers is about 20%. Set the tax on dividends to 45% and the statutory dividend rate at 45% and it ends up being almost revenue neutral. Stockholders would love it.

    Just a thought.
    How do you figger that coporations don't pay Federal taxes?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  7. #37
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:25 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,496

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by donc View Post
    Seeing as corps now have the rights as people(thanks Supreme s)they should be taxed at the individual rate, including SS and Medicare tax.
    Coporations already match SS and Medicare. What the hell more do you want from them?

    Your attitude will kill private business. Why would anyone want that?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  8. #38
    Girthless
    RightinNYC's Avatar
    Join Date
    Mar 2005
    Location
    New York, NY
    Last Seen
    01-23-11 @ 11:56 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    25,894

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by apdst View Post
    How do you figger that coporations don't pay Federal taxes?
    I think he's proposing a system, not saying what the rules are now.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

  9. #39
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:25 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,496

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by RightinNYC View Post
    I think he's proposing a system, not saying what the rules are now.
    Yes, you are correct. My bad.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  10. #40
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 09:18 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by donc View Post
    that's what I thought.....Sad, so sad.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

Page 4 of 5 FirstFirst ... 2345 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •