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Wednesday, September 22, 2010

GETTING SCREWED TWICE AT THE SAME TIME




a consensus of american opinion is that they need NO FEDERAL TAX INCREASES and NO NEW TAXES.
current government spending levels in this country run about $1,000/month DEFICIT per FAMILY.
there is no way that the government can cut back without affecting people. say, what you may about the huge and disgusting amount of waste, the government is NOT wasting $100 billion/month. most of that money is going to people, including myself, and perhaps, you.
federal taxes for most people arent that high. a family of 4 making $50,000/yr. probably isnt paying much tax, federal tax, that is. they are paying lots of social security taxes, for sure.
it's not like federal taxes can go down that much more.
the personal tax is slated to increase 4% to 39%.
you cant tax the lower economic half of us, because we arent paying any federal income taxes.
taxes cannot be increased enough to make up $100 billion/month.

THERE HAS TO BE A WAY TO TAX CORPORATIONS. i'm not talking about increasing the rate from 35 to 60%. THAT WOULD BE DISASTROUS.
virtually no business pays 35% on the numbers they tell you.
when HP or any company, when they pop out numbers that they tell us they are making, and they pay their officers on, that's not their tax number.
there is LEGITIMATE TAX DODGING, for example in calculating inventory.
you can use the first in-first out method. when you depreciate a building, you can depreciate it straight line or double declining balance. you can legally ACCELERATE many expenses for tax numbers. virtually every company has tax books and regular books.
why executive make bonusses of the regular, rather than tax books puzzles me. they could perhaps split the 2; that sounds fair.
from what i recently read the differences between tax books and regular accounting books has never been bigger than now. to me, that's an issue, a big issue. people probably do pay 35% of what these tax books are.

VERIZON, last year(love their cellphones, love their service), ended up getting a huge tax REBATE. they told us they made all this money, without paying us much of a stock dividend.
VERIZON got tax credits for putting in fiber optic(i think) cables. although they made a billion dollars, the government, you and me, owed them money.
then you have this issue of fraud, which EVERY administration tacitly ignores; we NEVER go after these people.
a big drug company is headquartered in BERMUDA. if you fly over bermuda, you wont see a massive drug factory. there might be an office.
the big drug company probably has 3 or 4 big patents,, where they can rip us all of for 17 years, or more. of course, their patent should be protected, but how many people suffer for the lack of these medicines. your $100/month prescriptions may cost 48 cents(per prescription) to make.
they flip the patents to the bermuda office, and 'charge, the american manufacturer $75 DOLLARS, for use of the patent. they call that transfer pricing. the actual profit pops up in bermuda, even though nobody there makes anything or sells anything.
this drug company has all these $100 profits, or more, per prescription accumulating in bermuda, a tax haven(heaven). they are paying no taxes in bermuda, or the u.s. or europe where this stuff is being sold.
WE ARE GETTING SCREWED TWICE AT THE SAME TIME.it must be ok. every administration, every congress, and every federal trade commision has winked at this, and done nothing.
before folks and businesses, and there are many, have their taxes increased again, there needs to be some comeuppance.

will the stooges and nincompoops in this(and all)administration and congress do anything about this. dont hold your breath waiting for it.

there needs to be some common sense.
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the voters need to get with it, to wake up. every day we hear misinformed folks and commentators admonishing to 'do what reagan did.'

people were paying as much taxes when he left office as when he went in.
when the legend conflicts with the facts, go with the legend.
reagan lowered the taxrate, great thing to do, but he also CUT a lot of the perks out of the tax law, which is spectacular.
reagan RAISED social security TAXES, a regressive thing.
what reagan did made lots of sense. cutting the corporate from 35 to 30 is a great idea, and getting rid of these ridiculous junky loopholes.
you, as a business, shouldnt be able to write off sporting event tickets or expensive dinners.
the tax laws need to be a third as big as they are now.
if a corporation is a legal person, their rate should be the same as people. when lowering business rates and cutting tax loopholes, they need to lower the people's rates to 30% for everybody, rather than raising it.
the mortgage tax deduction should go away; income credits should go away.
no side wants to that.
if everybody could do their own taxes, h&r blockhead would go out of business. we surely cant mess with the tax preparers lobby.

WHEREVER YOU PUSH, the inexperiened juniorish president is finding out, IS THE WORLD IS LIKE SILLY PUTTY. WHEN YOU PUSH IT IN ONE PLACE, IT POPS OUT SOMEWHERE ELSE NO MATTER WHAT YOU DO, SOMEBODY WANTS TO FIGHT AGAINST YOU.
years ago, if you were a wealthy corporation that was going under and has lost a lot of money for a few years, you could buy them and use their tax hole. congress did away with this silly rule, but paulson and geithner said "screw you, congress."
when wells fargo bought countryduring the recent crash, they got to use all those countrywide loss deductions. whose side are they on, anyway?
THERE IS AMAZING BENDOVER FOR THESE BIG BUSINESSES , AND THEY DONT PAY AND WONT PAY. they are making all the dough, now.
all that you hear every day is about how muuch money these big businesses are making.
THE AMOUNT OF TAXES THAT CORPORATIONS NOW PAY IS BELOW 10%.
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the voters response has been to dumb things down. the inexperienced people they are likely to elect offer no realistic hope for change.
those elected will fall right into line; their pockets and purses will be greased, just like the others before them.










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