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dibs,
I wonder to what extent the share of total national income the top 1% had during that same time period grew, but I doubt that it grew as fast as their percentage of contributions. Personally, I don’t like that type of statistic because it feeds into the whole “rich vs. poor” class warfare mentality.
I don’t think that tax increases on the rich only are a solution. I think Bush’s tax cuts set a bad precedent because they eliminated a large segment of the population from having to pay taxes at all. I think that this does lead to a sense of entitlement and the feeling that the rich should pay it all.
For personal taxes, I would recommend using the 1993-2001 system as staring point for reasonable rates.
On the corporate tax issue, I think the current system sucks on a number of levels.
I am in favor of eliminating all corporate taxes and making up the revenue through dividend and capital gains taxes. The short term should be a wash for investors, and long term it will lead to both more companies wanting to operate here and more efficient operations.
Sorry if I offended anyone by not blinding following either the conservative or liberal philosophy.
By daveinbedstuy on May 13, 2011 12:54 PM
The US has the highest corporate income tax in the
industrialised world, save for Japan. Our is 35%; Japan’s
is 39.5, and all of our other friends and trading partners
have rates well below these two, giving them strong
incentives to produce.
ok, sincere question here: has anyone seen a good source for what the effective tax collection rates are amongst the industrialized nations? discussing the statutory corp tax rates seems to have only marginal value these days, at least in the US. I’m all for lowering corp tax rates here as long as we have a statutory rate that’s enforceable and leads to greater revenue.
dibs- you skewered no one. They still won’t be paying the full rate in any case. But keep believing that if it makes you feel better. having a different point of view doesn’t make me uninformed- if you can wrap your mind around things like that.
And do you know which companies pay the highest rates??? Atual payments, net of deductions????
THE OIL COMPANIES.
I think their testimony befor Congress yeasterday basically solidified the idea that most congressmen don’t know what the hell they werre talking about.
of course dave’s spin on taxes paid by biggest wage earners neglects to mention that those wage earners make tons more than back in olden days while lower income has stagnated and gone down.
bxgrl, I skewered you on GE the last time you brought it up. It was a one time issue due to tax loss carryforwards. The company themselves are saying they will be paying a normal rate this year.
Why do the uninformed always trot out the lamest examples?????
dibs,
I wonder to what extent the share of total national income the top 1% had during that same time period grew, but I doubt that it grew as fast as their percentage of contributions. Personally, I don’t like that type of statistic because it feeds into the whole “rich vs. poor” class warfare mentality.
I don’t think that tax increases on the rich only are a solution. I think Bush’s tax cuts set a bad precedent because they eliminated a large segment of the population from having to pay taxes at all. I think that this does lead to a sense of entitlement and the feeling that the rich should pay it all.
For personal taxes, I would recommend using the 1993-2001 system as staring point for reasonable rates.
On the corporate tax issue, I think the current system sucks on a number of levels.
I am in favor of eliminating all corporate taxes and making up the revenue through dividend and capital gains taxes. The short term should be a wash for investors, and long term it will lead to both more companies wanting to operate here and more efficient operations.
Sorry if I offended anyone by not blinding following either the conservative or liberal philosophy.
By daveinbedstuy on May 13, 2011 12:54 PM
The US has the highest corporate income tax in the
industrialised world, save for Japan. Our is 35%; Japan’s
is 39.5, and all of our other friends and trading partners
have rates well below these two, giving them strong
incentives to produce.
ok, sincere question here: has anyone seen a good source for what the effective tax collection rates are amongst the industrialized nations? discussing the statutory corp tax rates seems to have only marginal value these days, at least in the US. I’m all for lowering corp tax rates here as long as we have a statutory rate that’s enforceable and leads to greater revenue.
dibs- you skewered no one. They still won’t be paying the full rate in any case. But keep believing that if it makes you feel better. having a different point of view doesn’t make me uninformed- if you can wrap your mind around things like that.
there you go again – ‘rates’.
Simply Put:
It’s not so much about the taxes folks.
It’s about the SPENDING!!
It’s just that taxing more in this economic climate will only make the problem worse by inhibiting investment in small business.
And do you know which companies pay the highest rates??? Atual payments, net of deductions????
THE OIL COMPANIES.
I think their testimony befor Congress yeasterday basically solidified the idea that most congressmen don’t know what the hell they werre talking about.
Congratulations gemini!
of course dave’s spin on taxes paid by biggest wage earners neglects to mention that those wage earners make tons more than back in olden days while lower income has stagnated and gone down.
bxgrl, I skewered you on GE the last time you brought it up. It was a one time issue due to tax loss carryforwards. The company themselves are saying they will be paying a normal rate this year.
Why do the uninformed always trot out the lamest examples?????