CounterRevolutionary

2bltap asks us:
Why does it matter if a big corporation gets tax relief?
Yes, it matters. American corporations pay the highest corporate taxes in the world, making it nearly impossible for them to stay at home and compete abroad.

The top percentage of those with money are the ones that have created most of the jobs in this country so what's wrong with them getting some slack cut?
Nothing is wrong with it. Why should we give that revenue to the government that only manufactures red tape? It is worth noting that the Fortune 500 create about 20% of employment and revenue where small business create 80% of the jobs and revenue.

All this BS pertaining to "THE FAIR SHARE ISSUE" that has been pushed by mostly the Democrats is ridiculous.
I think we are missing the point. Why is the government punishing production with taxes? How about a consumption tax instead and paring down the government services to a minimal?

Who's right is it to determine what that fair share is supposed to be? Other than those of wealth that were born into it which is the smaller percentage, the owners of those companies that have done extremely well should be able to keep as much of the profits as they see fit. So what is the big deal?
Studies have been made as to the efficiency of government according to its size and the public burden of taxes:
T***hful Politics:
http://www.t***hfulpolitics.com/http:/t***hfulpolitics.com/comments/the-laffer-and-armey-curves/

Let us look at history, going back to the turning point in business taxes. Under the Nixon administration, the accounting giant Arthur Andersen argued that since the IRS could demand quarterly estimates in business tax payments, businesses should be able to estimate the value of their profits over an extended period of time (Value Based Accounting). Small businesses, some 28 million of them, use Cost Based Accounting, hard figures of profits, loses, inventory, employee wages, etc. Basically, the Fortune 500 pay their taxes whenever they want to, estimating their profits and losses over 1 or 3 or 20 years to "manage risks" so as to not go out of business. How do the little guys compete against this r****d system?

In fact, Arthur Andersen proposed corporations that had gone public keep two sets of books, one to paint a rosy prospectus for Wall Street, and a second for the IRS. That system crashed the stock market three times, 1929, 1972, and 2008. Hmmm.

Is It Fair to Blame Fair Value Accounting for the Financial Crisis?
by Robert C. Pozen; Harvard Business Review: From the November 2009 Issue
https://hbr.org/2009/11/is-it-fair-to-blame-fair-value-accounting-for-the-financial-crisis

Couple this with the 80,000 pages of IRS tax code, lobbyists, laws and loopholes, the system is ripe for "errors" and it certainly is not fair to the small businesses that are trying to compete. This is why the House plan for tax reform is good. It is not perfect, but it's a great step in eliminating 90% of those ridiculous laws and loopholes favoring the big corporations:

The Tax Cuts & Jobs Act
http://spkrryan.us/2AI3iik

President Trump and Speaker of the House, Paul Ryan, are doing the right thing. Now we wait for the Senate to get on board.

working class stiff Loc: N. Carolina

You are funny.

You question my sources, yet provide none of your own. I don't need to fact check you, since I never said anything about corporations or who pays taxes. You're changing the subject and moving the goal post.

jack sequim wa Loc: Blanchard, Idaho

That's not opinion, that's fact. And Clinton policies caused the housing bubble, internet bubble.

jack sequim wa Loc: Blanchard, Idaho

Read your own article link, my point was discrediting the author. Your sources not mine.

Super Dave Loc: Realville, USA

Objective facts are a real problem for the left.

Roll Tide!

jack sequim wa Loc: Blanchard, Idaho

Let me help you learn.
Instead of reading a few authors opinions, learn how the economic gears work. It cost to get information from this site (current) but they do publish dated information.
The difference between this site and other economic sites, their economic predictions are over 90% accurate and one can actually learn how (in depth) America's economic engine work's (assuming you have a economic micro/macro foundation, "College")

http://www.shadowstats.com/

Otherwise your cutting and pasting information in your mind, that sounds like babbling.

working class stiff Loc: N. Carolina

[quote=jack sequim wa]Read your own article link, my point was discrediting the author. Your sources not mine.[/qu

I think I'll just pass on whether you discredited the author, because you say so. The meat of the links was to the charts showing revenues to the government, and whether the Obama administration increased spending to ramp up the debt. That was the issue to which I was responding. The charts show Obama did not increase spending as fast as Bush or Reagan, and that revenues to the gov't fell from the 2008 levels until 2013, when revenues did rebound to 2008 levels.

Blaming Obama for the deficits and debt is just political spin, and laying the ground work for the next increase in deficits and debt under the new administration. Debt and deficits matter to Republicans only under Democratic administrations, and Republicans will twist themselves into pretzels to avoid taking responsibility for their own failures.

Voodoo politics for voodoo economics.

lindajoy Loc: right here with you....

Thank You Jim and yes sir you nail it as always!!

The United States recorded a government debt equivalent to 106.10 percent of the country's Gross Domestic Product in 2016. Government Debt to GDP in the United States averaged 61.14 percent from 1940 until 2016, reaching an all time high of 118.90 percent in 1946 and a record low of 31.70 percent in 1981.
Manx do you remember who was President in 1981????
Ronald Reagan, yes sir, mister he sure was...
Not that the President us the one that does it but he sure does by insuring he isn’t making stupid mistakes to hurt the economy or investment etc.,

It’s 28 * tonight.. Had a bit of snow last night.. Itssss coming..

Been fishing ?? I’m getting Thanksgiving ready decorations done, table pattern chosen, honey baked ham ordered , Turkey purchased ..

Cant wait!!!

kankune Loc: Iowa

Don't be so damn mean...jackass!!!!!!!

lindajoy Loc: right here with you....

Only because they have been propagandized into political zombies with blind eye syndrome...

CounterRevolutionary

PeterS, you asks: "Why are they [corporations] going to create new jobs?

We are entering a global economy where the demand far outstrips the supply. Remember, one employee consumes for one person, himself, but can manufacture for a 100 or even 1000 customers, depending upon your factory, the new employee is very valuable for expansion. Most small businesses will welcome lower taxes to hire on more employees.

Private banks cannot supply loans to small businesses with 0.001% interest rates set by the Federal Reserve Bank, so tax cuts will have to do for expansion. That's why the small banks are also disappearing, they need higher interests rates to attract depositors and then to lend start-up capital to small businesses.

The Fed's biggest customer is our spendthrift Congress that has already racked up a $20 trillion national debt. The government needs to continue borrowing money at 0.001% just to pay down the interest on the national debt. Right now, the government is taxing small businesses 40%, which is destroying industry and jobs. 1/3rd of our industry has already fled the country to Mexico, China, Ireland, you name it, anyplace but here.

jack sequim wa Loc: Blanchard, Idaho

Whoa, I wasn't talking to you. I'm fed up with liberals sucking up f**e media in every possible sector of information.

teabag09

Jack, though technically right because Clinton signed it, it was Congress who wrote and passed the bill he signed. Frank/Dowd created a huge part of the problem. Congress mandated that loans be made to people who had had absolutely no way to repay them. Those loans were bundled and speculators looking to make a quick buck (which the first in did) bought and sold them. Ponzi scheme. Of course the Fed. Govt. didn't pay for this, the tax payer did. It's the same with all this BS that's going on with Congress. In collusion with the media the public is not only being ignored but fleeced. Much more to it but I'm tired. Mike

kankune Loc: Iowa

Geeze...I was wondering. You'd never said things like that to me before. I over reacted and took it wrong. My apologies Jack...☺

pafret Loc: Northeast

If Obama reduced a trillion dollar budget hole by half, how did we end up ten trillion dollars deeper in the hole or did Bush do that also? Between what Obama pissed away and the debts he committed us to in the future and tried to commit to like the Paris g****l w*****g farce, we would never under any circumstances get out of the hole. As it is, it is unlikely that we will and it is Obama's doing. Trump is shoveling, you what, against the tide in trying to reverse Obama's destruction.