Make Everybody Pay Something

[Doc Nab]

49.5% Of All Americans Don’t Pay Income Taxes…

Remember this the next time Obama says everyone must “pay their fair share,”


Via The Foundry:

This year’s Index of Dependence on Government presented startling findings about the sharp increase of Americans who rely on the federal government for housing, food, income, student aid or other assistance.

Another eye-popping number was the percentage of Americans who don’t pay income taxes, which now accounts for nearly half of the U.S. population. Meanwhile, most of that population receives generous federal benefits

[paperlady]

And what about the big businesses?

[burninfilm]

And what about the big businesses?

The U.S. has the highest corporate tax rate in the world.
Over the years, congress has included in the tax code, various deductions to encourage investment by businesses. These investments are supposed to lead to expansion and more jobs. In other words, generally, they must first spend (invest in the business) in order to deduct. This is similar to how mortgage interest deductions work for individual taxpayers. They are designed to encourage home ownership, which of course helps home builders, suppliers and so forth. Hopefully all of this will provide jobs and grow the economy.
In theory it works, in Washington, the system can be influenced by donations.....unfortunately.

[pville03]

Everytime I look at my taxes, I wish I had a kid.. This middle class thing sucks... I went from tax refunds to scared to being scared to file.  :smh:

What makes it worse is that I live in jurisdiction with the highest taxes in America. I normally lean left of center on things but DC is simply an example of an overbloated govt. This city could stand to have a stronger conservative base to shift things back towards the center.

[Doc Nab]

And what about the big businesses?

Must be a liberal.  Who'd of thunk it from someone in the press?

[pville03]

Doc Nab,
  Let's just be honest. The Big corporations have figured out how to game the system. Small Businesses are the one suffering...

[paperlady]

And what about the big businesses?

Must be a liberal.  Who'd of thunk it from someone in the press?

I'm originally from Northern Wisconsin...uh oh!  Please don't start throwing around the "y" word, (Yankee that is)   

[paperlady]

Doc Nab,
  Let's just be honest. The Big corporations have figured out how to game the system. Small Businesses are the one suffering...

I recently read an article about big companies and their profits and what they paid in federal taxes...I know GE was at the top of the list with profits of 1.2 billion dollars and didn't pay any taxes...now that is profits mind you...and I may not be right about the 1.2; it may have been more.  Just makes me wonder how that happens.

[pville03]

Doc Nab,
  Let's just be honest. The Big corporations have figured out how to game the system. Small Businesses are the one suffering...

I recently read an article about big companies and their profits and what they paid in federal taxes...I know GE was at the top of the list with profits of 1.2 billion dollars and didn't pay any taxes...now that is profits mind you...and I may not be right about the 1.2; it may have been more.  Just makes me wonder how that happens.

Lobbyists and Lawyers to keep it simple.

[Doc Nab]

I'm originally from Northern Wisconsin...uh oh!  Please don't start throwing around the "y" word, (Yankee that is)   
[/quote]

Don't worry. y makes no difference to me. 

[burninfilm]

Doc Nab,
  Let's just be honest. The Big corporations have figured out how to game the system. Small Businesses are the one suffering...

I recently read an article about big companies and their profits and what they paid in federal taxes...I know GE was at the top of the list with profits of 1.2 billion dollars and didn't pay any taxes...now that is profits mind you...and I may not be right about the 1.2; it may have been more.  Just makes me wonder how that happens.

They do it legally, sometimes as a result of investment credits, sometimes because the money was made and kept out of the US. There are billions of dollars (at least) in overseas accounts that can't be used here because of the tax liability incurred should it be re-patriated. There have been bills introduced to impose a minimum penalty in order to let them bring the money home to invest here, but so far no dice. Did your article also say that the GE CEO is President Obama's jobs guy and recently created thousands of new jobs...overseas.

[Woodleg]

"Last year, the pressure for a corporate tax system fix heated up with news of General Electric's zero tax rate in 2010 due to profits overseas and losses at its financial unit. "General Electric CEO Jeffrey Immelt is the chief of Obama's Council for Jobs and Competitiveness."

[pville03]

Burnie they are able to do it legally because they made enough campaign donations to get friendly laws passed. Too bad you and I can't do the same.

[burninfilm]

I understand the process and there are many "credits" available to ordinary taxpayers as well. This thread is about the number of citizens who don't pay anything.
Never fear though, government (President Obama) is stepping in to even the playing field, by increasing the tax on those of us who receive some dividend income.
http://online.wsj.com/article/SB10001424052970204880404577225493025537660.html?mod=WSJ_hp_LEFTTopStories
The U.K increased it's top rate to 50%, which has resulted in lower tax revenue...
http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9097219/50p-tax-rate-failing-to-boost-revenues.html
And of course those mean old corporations who provide the dividends for and sign the paychecks of so many, despite being the target of the occupy folks and many self-serving politicians might get a break from the worlds highest corporate tax rate. (I approve)
http://news.yahoo.com/ap-source-obama-seeks-28-percent-corp-tax-053911565.html

[Thinker]

When basic necessities go up because of excess government tax or regulation, the poor pay a greater percentage of their income in these hidden taxes.  No one escapes.

Another big hidden tax is coming as gas prices rise.  It hits the poor in the gas tank.