Sad but true ( Archived) (93)

leigh2154: Big corporations currently face approximately 35%, one of the lowest tax rates in the WORLD!!...The tax "hit" is based on net income, not gross...This is one of the reasons you read about the HUGE bonus checks top CEO's receive....the bonus checks reduce the amount of "net" Corporate earnings by the same amount of taxes the Corps would owe if they did not pay out the bonuses....One of the primary reasons this little game ws started is because our government is frivolous with our tax dollars and people are sick and tired of it, have been for years!...So what exorbitant bonuses actually do is take money away from government and privatize it...Nothing more than a money game Blusey...

TrueBlue1986: Essentially that is what i'm saying, you run yourself as a company; and say that company earns $100.000 in a year, you may pay yourself $15.000 of that in a wage and the remainder you recieve as an effective bonus, if you like.

It means that not one $ made recieves the top rate of income tax.

TrueBlue1986: And I agree with you, I do actually pay all the tax I should be paying, and I do so because my Dad was a steelworker. But I notice it a lot amongst young professionals, we seriously resent how the super-rich behave, and how they're sapping the middle as well as screwing the bottom. The attitude of "if they can do it then so can we" is creeping in.

venere08: an inzy point...I beg to differ. Cheat the government, and see how legal it will be regarded.

TrueBlue1986: Receive**

grizzwald: We need to close the loopholes....Take Jessie Jackson for an example .. Is he a Rev. and where is his church?.... does he preach and live by his religion ,or is it simply smoke and screens....does he file all of his income on his tax ..or does he claim it all or most or some as a non-profit org.Most everyone cheats on their return in some form or another .....but that does not make it right..
Here is a small paragragh I found on-line ans shows how one may "cheat" on their returns.Though he began characterizing himself as a Baptist minister in 1968, Jackson had never actually earned a traditional ordination. He failed out of the Chicago Theological Seminary during his first year there. Kenneth Timmerman -- author of the authoritative book Shakedown: Exposing the Real Jesse Jackson -- explains: “[There is normally] a two- to three-year process for earning that title . Jesse Jackson got himself ordained two months after Martin Luther King was shot. It was essentially a political ordination, a shotgun ordination. ... He did not go through this two-year process. He never submitted himself to the authority of the church. He has never had a church himself, and he has been accountable to no one.http://www.discoverthenetworks.org/individualProfile.asp?indid=687

TrueBlue1986: I agree, we should close the loopholes.

The greater problem though, as I see it, is that business is too closely tied to the international system of trade(the city). Which de facto holds no loyalty to any nation, it effectively plays nations against one another for corporate/individual gains.

If what was profitable in the West was factories and production, as opposed to banks and stocks, we could hold the business sector accountable to the community because we'd hold the means of production(the lifeblood of productive business)within the Nation, and so tax it fairly and ensure proper conduct.

In banking, you just can't do this, as we have seen. The banker will happily spin us all a lie, get fat in the mean time, then laugh at us when it all collapses, then they laugh even harder when we go crawling back to them like we are doing now. These vermin need stamping on.

grizzwald: If you receive any money at all it is seen as "income" and therefore taxable....even waitress' are supposed to claim tips as income....