GE and corporate taxes

[RoyalShock]

I thought it was a good read:

http://www.campaignforliberty.com/article.php?view=1415

[DUShock]

Personal and corporate flat tax, no deductions solves many a problem. (I know the devil is in the details...)

[1979Shocker]

When Ronald Reagon found out that corporations (including General Electric) weren't paying their fair share of income taxes, he undertook some comprehensive tax reforms, which raised corporate taxes and close some loopholes. The result was the 1986 Tax Reform Act.

Here is a speech from him talking about corporations paying their fair share.

http://www.youtube.com/watch?v=SekB2_Wmkzg

[InWuWeTrust]

i don't have a problem with a corporation being able to write off bad investments.. kind of like how we can take tax losses on bad investments (capital losses). eventually they will run out and they'll start paying taxes again.

[RoyalShock]

When Ronald Reagon found out that corporations (including General Electric) weren't paying their fair share of income taxes, he undertook some comprehensive tax reforms, which raised corporate taxes and close some loopholes. The result was the 1986 Tax Reform Act.

Here is a speech from him talking about corporations paying their fair share.

http://www.youtube.com/watch?v=SekB2_Wmkzg

Their "fair share" is added cost that likely results in higher consumer prices.

Individuals pay most if not all taxes in some form or another. There is no magic pool of corporate funds that can be taxed without negatively affecting the consumer or at the very least, the employee.

[1979Shocker]

When Ronald Reagon found out that corporations (including General Electric) weren't paying their fair share of income taxes, he undertook some comprehensive tax reforms, which raised corporate taxes and close some loopholes. The result was the 1986 Tax Reform Act.

Here is a speech from him talking about corporations paying their fair share.

http://www.youtube.com/watch?v=SekB2_Wmkzg

Their "fair share" is added cost that likely results in higher consumer prices.

Individuals pay most if not all taxes in some form or another. There is no magic pool of corporate funds that can be taxed without negatively affecting the consumer or at the very least, the employee.

And that's where the consumers has to decide if they want to pay the price of the product and the corporation has to decide how much they can get for the product.

If the consumer decides the price is too high, they won't buy the product and the corporation will have to lower the price.

It will eventually balance out.

[BOBB]

Corporations should pay no taxes. Tax capital gains at the individual's marginal rates. Tax expatriated dividends and capital gains at the highest marginal rate. Eliminate all individual tax shelter devices.

[RoyalShock]

And that's where the consumers has to decide if they want to pay the price of the product and the corporation has to decide how much they can get for the product.

If the consumer decides the price is too high, they won't buy the product and the corporation will have to lower the price.

It will eventually balance out.

If you remove the deductions corporations can take that allow them to pay less than their "fair share", then prices will go up across the board. That's not giving the consumer much choice. Their costs go up regardless.

Lower spending until no corporate tax is required, then get rid of it. After that, lower spending more so that the individual income tax is minimal or can be abolished.

[engrshock]

If corporations do not pay taxes, despite the benefits they receive from educated employees, military protection, etc. then the individuals taxes have to go up to get the same size of pie (tax revenues) and the less money individuals will have to pay for these companies products. The effect is that basically the cost of the goods produced by a company still costs more to the consumer either way.

[engrshock]

There is no way that spending will ever be reduced such that income taxes will not be necessary. We are paying out hundreds of billions on the interest on the federal government debt and state government debt, not to mention probably at least a trillion dollars per year on military spending, Homeland Security, CIA, FBI and care of former soldiers. Not sure where you cut to get to a point where there are no income taxes required.

http://www.youtube.com/embed/VtVbUmcQSuk

http://online.wsj.com/article/SB10001424052748704506404575592900454547226.html