Originally Posted By: sinij
Originally Posted By: Wolfgang
That is a great explanation Derid. Some liberals seem to hate the fact that someone puts in the hard work and risk to make a lot of money. Some of those liberals that are wealthy want all the rules to apply to others, and not to them.


Adds value or divert it? Also traditional way into "lots of money" isn't "hard work" (labor) but "investment" (capital).

Read this.


Here's a paragraph from that site you posted.
Quote:
"Not surprisingly, Wall Street and the top of corporate America are doing extremely well as of June 2011. For example, in Q1 of 2011, America's top corporations reported 31% profit growth and a 31% reduction in taxes,the latter due to profit outsourcing to low tax rate countries. Somewhere around 40% of the profits in the S&P 500 come from overseas and stay overseas, with about half of these 500 top corporations having their headquarters in tax havens. If the corporations don't repatriate their profits, they pay no U.S. taxes"

I think the highlighted tells the biggest reason why corporations go overseas. It's about saving money. If you are going to move your company overseas, your moving jobs, and tax revenue from those jobs via workers will go with it. So what DOESN'T make sense would be to taxing them a higher rate making the decision for the company easy to move it. They could also place tariffs on countries that are having companies being moved to.

Our tax system needs to be changed. Should companies catch a break paying .001% tax along with write offs? No, they shouldn't. Our tax system is flawed, and I still can't believe not enough people are not wanting to fix it. Is the Fair Tax act the one? maybe, maybe not. A flat tax? could be, but until we find a fix for our taxing system, we will never get a fair tax for middle class or the rich. When I work up to 48 hours a week. My bring home pay is only a few dollars off if I had worked 55 hours. Is that fair? I spend more time working only to get more money taken from me. This is what pisses me off, the only way I can gain a significant change in my paycheck, is if I work more than 62 hours a week. These little tax brackets we have kills people like me. It's like you're working for nothing when you work between 48-60 hours a week. A flat tax seems more likely of a fix than a national Fair tax or consumer tax on goods.

About the corporate tax, I don't think it should go above 18%. Back in the early 90's during Clintons first term when the economy was slow. He took the corporate tax down to 25% from 35%. It seemed to work well for him. Like I said, until we change the tax system from the current cluster fuck we have now, it's not going to be fair. Unless you go the pure socialist route and add another 30% tax to top 30% of earners in the U.S. Then the only thing that would do is afford the government to fill the coffers of welfare and other/more social programs. You probably think adding more tax revenue by tax more will take the debt down to nothing. But when we are already spending a lot more then we are taking in revenue. How would taxing more while SPENDING more offset us from still outspending what we are taking in? Small Business and big corporations still employ far more people than the government. Therefore the government doesn't create the nations jobs. This is the typical flaw of liberalism. I call it the "hold your hand syndrome" where you need Government to tell you what you should and shouldn't do.

"A wise man's heart is at his right hand; but a fool's heart at his left.
Ecclesiastes 10:2"

Last edited by Wolfgang; 08/14/11 08:51 AM.