Thread: Spooky Obama
View Single Post

Re: Spooky Obama
Old 08-22-2011, 12:35 PM   #19
Bond
Cheesehead
 
Bond's Avatar
 
Bond is offline
Location: Midwest
Now Playing:
Posts: 9,314
Default Re: Spooky Obama

Quote:
Originally Posted by Dylflon View Post
I agree with your tax points in that first page post. However, I feel that the rich could take a tax hit of over 25% and it still not be punishment for success. I think in the 50s the wealthiest members of the country had a tax hit of over 90%. I'm not saying go that far but still, everyone seems to think the 50s were great.
World War II. Our economic policies could have been complete garbage in the 50's and we still would have seen remarkable growth.

Quote:
As for the corporate tax: isn't the problem that CEOs and high ranking employees of companies claim smaller incomes to avoid taxes? They are able to tie up their money in stocks and other things that are not taxed. Is there a way to tax stocks so that the rich are taxed accordingly?
CEOs & Co. will siphon off their money to offshore entities to evade taxes. Moving money into investments isn't really the problem, those earnings are taxed at a fairly high rate.

Quote:
Also, since corporation are by law seen as individuals now, shouldn't a certain percentage of a company's profit be taken as taxes? Or at the very least corporations could be given tax breaks for reinvesting some of their profits in the community.
It already is. You're looking at standard double taxation of dividends paid out to shareholders. Stories like GE paying no taxes for a fiscal year are only true because the tax code is bonkers.
  Reply With Quote