MARCELL DAREUS POWER Posted May 13, 2012 Share Posted May 13, 2012 (edited) you see, when you spend, and continue to cut taxes to 1930 levels, you create a deficit... http://upload.wikimedia.org/wikipedia/commons/e/e5/MarginalIncomeTax.svg Bain Capital's tax subsidies are credited against Romney's individual income tax? (Romney paid 14% in 2010.) Has nothing to do with the current administration. GE's income tax was offset by a tax credit from GE Capital (or their income was offset by a GE Capital loss - I forget which exactly). GE actually paid something like $2B in taxes...GE Capital had a $2B+ credit, most of which went to GE's coffers, as they're the majority owner of GE Capital. That would have happened in any administration. Doesn't ANYONE know how the real world works? yeah the real world, when i take a loss, i dont get that... lol what a joke... so basically if a corporation takes losses compared to whatever metric, they get free money. WOW! you need to see what tax subsidies romney received vs his income tax rate of 14%... its like me paying 20% in taxes but then the govt cuts a check covering that loss. Edited May 13, 2012 by MARCELL DAREUS POWER Link to comment Share on other sites More sharing options...
Magox Posted May 13, 2012 Share Posted May 13, 2012 Ok, I'll take DC Tom and New Bills you can have Marcel on your team. Link to comment Share on other sites More sharing options...
MARCELL DAREUS POWER Posted May 13, 2012 Share Posted May 13, 2012 http://thinkprogress.org/economy/2012/04/09/460519/major-corporations-no-taxes-four-year/?mobile=nc Link to comment Share on other sites More sharing options...
IDBillzFan Posted May 13, 2012 Share Posted May 13, 2012 http://thinkprogress.org/economy/2012/04/09/460519/major-corporations-no-taxes-four-year/?mobile=nc Does Thinkprogress.com have an article about the 50% of Americans who paid no federal taxers last year? Didn't think so. Link to comment Share on other sites More sharing options...
DC Tom Posted May 13, 2012 Share Posted May 13, 2012 yeah the real world, when i take a loss, i dont get that... lol what a joke... so basically if a corporation takes losses compared to whatever metric, they get free money. WOW! Incorporate yourself and run your life on accrual-based principles, and you will. Amazing that corporations and people are, in fact, not the same. (And yes, you can take that to the Supreme Court, if you want.) you need to see what tax subsidies romney received vs his income tax rate of 14%... its like me paying 20% in taxes but then the govt cuts a check covering that loss. He didn't get "tax subsidies"...he paid the capital gains rate. You !@#$ing moron. Link to comment Share on other sites More sharing options...
meazza Posted May 13, 2012 Share Posted May 13, 2012 yeah the real world, when i take a loss, i dont get that... lol So you don't have access to tax-loss carryforward? http://http://www.investopedia.com/terms/l/losscarryforward.asp#axzz1uhrggObP Link to comment Share on other sites More sharing options...
MARCELL DAREUS POWER Posted May 13, 2012 Share Posted May 13, 2012 (edited) Incorporate yourself and run your life on accrual-based principles, and you will. Amazing that corporations and people are, in fact, not the same. (And yes, you can take that to the Supreme Court, if you want.) He didn't get "tax subsidies"...he paid the capital gains rate. You !@#$ing moron. http://articles.latimes.com/2012/jan/12/nation/la-na-bain-subsidies-20120113 "Bain Capital began looking at investing in the steel start-up in late 1993. At the time, Steel Dynamics was weighing where to locate its first plant, based in part on which region offered the best tax incentives. In June 1994, Bain put $18.2 million into Steel Dynamics, making it the largest domestic equity holder. It sold its stake five years later for $104 million, a return of more than $85 million. As Bain made its investment, the state and county pledged $37 million in subsidies and grants for the $385-million plant project. The county also levied a new income tax to finance infrastructure improvements to benefit the steel mill over the heated objections of some county residents. "I'm very pro-business, but I'm not pro-business-welfare," said DeKalb County resident Suzanne Beaman, 58, who fought the incentives. Steel Dynamics "would have done fine without our tax dollars, I have no doubt." Another steel company in which Bain invested, GS Industries, went bankrupt in 2001, causing more than 700 workers to lose their jobs, health insurance and a part of their pensions. Before going under, the company paid large dividends to Bain partners and expanded its Kansas City plant with the help of tax subsidies. It also sought a $50-million federal loan guarantee." Edited May 13, 2012 by MARCELL DAREUS POWER Link to comment Share on other sites More sharing options...
IDBillzFan Posted May 13, 2012 Share Posted May 13, 2012 (edited) I just want to say that I hate that the Roster Number thread was closed. It seems every time Tom makes a good joke, "the man" is out to tamp him down. And let's face it. Tom doesn't make a lot of good jokes. Reverse Simon Rule. That will NEVER get old. Edited May 13, 2012 by LABillzFan Link to comment Share on other sites More sharing options...
Magox Posted May 13, 2012 Share Posted May 13, 2012 (edited) http://articles.latimes.com/2012/jan/12/nation/la-na-bain-subsidies-20120113 "Bain Capital began looking at investing in the steel start-up in late 1993. At the time, Steel Dynamics was weighing where to locate its first plant, based in part on which region offered the best tax incentives. In June 1994, Bain put $18.2 million into Steel Dynamics, making it the largest domestic equity holder. It sold its stake five years later for $104 million, a return of more than $85 million. As Bain made its investment, the state and county pledged $37 million in subsidies and grants for the $385-million plant project. The county also levied a new income tax to finance infrastructure improvements to benefit the steel mill over the heated objections of some county residents. "I'm very pro-business, but I'm not pro-business-welfare," said DeKalb County resident Suzanne Beaman, 58, who fought the incentives. Steel Dynamics "would have done fine without our tax dollars, I have no doubt." Another steel company in which Bain invested, GS Industries, went bankrupt in 2001, causing more than 700 workers to lose their jobs, health insurance and a part of their pensions. Before going under, the company paid large dividends to Bain partners and expanded its Kansas City plant with the help of tax subsidies. It also sought a $50-million federal loan guarantee." you need to see what tax subsidies romney received vs his income tax rate of 14%... Dude, the steel company got subsidies, not Mitt Romney. Edited May 13, 2012 by Magox Link to comment Share on other sites More sharing options...
MARCELL DAREUS POWER Posted May 13, 2012 Share Posted May 13, 2012 (edited) So you don't have access to tax-loss carryforward? http://http://www.investopedia.com/terms/l/losscarryforward.asp#axzz1uhrggObP thats for capital gains, unfortunately this tax write off doesn’t apply to labor…who helps create any profit. So if company x loses profit, capital gets bailed out by the govt but labor gets !@#$ed… You see in the “ real world” this is called hypocrisy… lol Dude, the steel company got subsidies, not Mitt Romney. which helped bain capital, lol Incorporate yourself and run your life on accrual-based principles, and you will. Amazing that corporations and people are, in fact, not the same. (And yes, you can take that to the Supreme Court, if you want.) He didn't get "tax subsidies"...he paid the capital gains rate. You !@#$ing moron. This is incredible logic. So if a person gets all his money from capital gains, ie from his initial investment of a corporation, and he owns that corporation, then he pays zero taxes, because the profit is viewed as part of a corporation and not a person, ahhh…. But if a corporation wants to lobby, it’s a person… So for taxes, im not a person and I don’t pay taxes For lobbying, I am a person and can bribe people…- ironically to not be called a person so I don’t pay taxes… Classic… Does Thinkprogress.com have an article about the 50% of Americans who paid no federal taxers last year? Didn't think so. you know why? because all of them are in poverty or close to poverty... this is the equivalent of going up to a starving person and taking half his pizza and then going up to the owner of pizza hut and giving him that pizza from the starving person... Edited May 13, 2012 by MARCELL DAREUS POWER Link to comment Share on other sites More sharing options...
Magox Posted May 13, 2012 Share Posted May 13, 2012 thats for capital gains, unfortunately this tax write off doesn’t apply to labor…who helps create any profit. So if company x loses profit, capital gets bailed out by the govt but labor gets !@#$ed… You see in the “ real world” this is called hypocrisy… lol which helped bain capital, lol No you dipshit, first and foremost it helps the company, then the investors. You see in your little tard-filled world, private equity firms are "vulture capitalists", they exist to destroy companies and make middle-aged white guys rich as hell at the expense of poor shleps like yourself. Whereas that couldnt be further from the truth. Private equity firms are created to help companies that are already on the verge of bankrupcy, that are in dire need of cash infusions and also help start up new companies. Mitt Romney was one of the best, he turned around many companies that were on the verge of failing and he helped start up some really successful companies. Some of the companies were in such bad shape they werent able to emerge stronger, in more cases than not they were able to. Only in dumbassville would someone believe that The Salt Lake City Olympic committee would tap Gordon Gekko to turn around the Olympics. Nevermind that they were riddled with inefficiences, scandals and on the verge of it becoming an embarrassment for the US in the eyes of the world. But you go ahead and keep believing that Mitt Romney got subsidies, in the meantime we'll just continue to mock you. Fair enough? Link to comment Share on other sites More sharing options...
dayman Posted May 13, 2012 Share Posted May 13, 2012 I would actually like to know a bit more about what exactly Mitt accomplished in business. The good and the bad. Any suggestions on where to go? A good neutral article I can find it all in? Link to comment Share on other sites More sharing options...
Magox Posted May 13, 2012 Share Posted May 13, 2012 I would actually like to know a bit more about what exactly Mitt accomplished in business. The good and the bad. Any suggestions on where to go? A good neutral article I can find it all in? Google up Bain Capital, and ignore the political sites and blogs. He's a tremendously accomplished man. Everywhere he went, he succeeded. Link to comment Share on other sites More sharing options...
MARCELL DAREUS POWER Posted May 13, 2012 Share Posted May 13, 2012 (edited) No you dipshit, first and foremost it helps the company, then the investors. You see in your little tard-filled world, private equity firms are "vulture capitalists", they exist to destroy companies and make middle-aged white guys rich as hell at the expense of poor shleps like yourself. Whereas that couldnt be further from the truth. Private equity firms are created to help companies that are already on the verge of bankrupcy, that are in dire need of cash infusions and also help start up new companies. Mitt Romney was one of the best, he turned around many companies that were on the verge of failing and he helped start up some really successful companies. Some of the companies were in such bad shape they werent able to emerge stronger, in more cases than not they were able to. Only in dumbassville would someone believe that The Salt Lake City Olympic committee would tap Gordon Gekko to turn around the Olympics. Nevermind that they were riddled with inefficiences, scandals and on the verge of it becoming an embarrassment for the US in the eyes of the world. But you go ahead and keep believing that Mitt Romney got subsidies, in the meantime we'll just continue to mock you. Fair enough? so if company x takes losses, does labor get bailed out or do they lose their job? so much for risk takers...lol what a load of bs. tax subsidies for capital, but not labor. again, hypocrisy. as far as investment, if company x is struggling and they get capital infusion, those profits are not taxed or at a very low rate( especially when you consider subsidies). where as labor gets taxed at a higher rate, and they get no bail out for losses, they just get fired. one person brings his body and mind, the other bring cash or tools, yet we have different rules for different classes. Edited May 13, 2012 by MARCELL DAREUS POWER Link to comment Share on other sites More sharing options...
3rdnlng Posted May 13, 2012 Share Posted May 13, 2012 so if company x takes losses, does labor get bailed out or do they lose their job? so much for risk takers...lol what a load of bs. tax subsidies for capital, but not labor. again, hypocrisy. as far as investment, if company x is struggling and they get capital infusion, those profits are not taxed or at a very low rate( especially when you consider subsidies). where as labor gets taxed at a higher rate, and they get no bail out for losses, they just get fired. one person brings his body and mind, the other bring cash or tools, yet we have different rules for different classes. Auto Companies bailouts. Do I need to say anymore? Link to comment Share on other sites More sharing options...
DC Tom Posted May 13, 2012 Share Posted May 13, 2012 This is incredible logic. So if a person gets all his money from capital gains, ie from his initial investment of a corporation, and he owns that corporation, then he pays zero taxes, because the profit is viewed as part of a corporation and not a person, ahhh…. But if a corporation wants to lobby, it’s a person… So for taxes, im not a person and I don’t pay taxes For lobbying, I am a person and can bribe people…- ironically to not be called a person so I don’t pay taxes… Classic… Nobody is possibly this stupid. Now you're just trolling. I just want to say that I hate that the Roster Number thread was closed. It seems every time Tom makes a good joke, "the man" is out to tamp him down. And let's face it. Tom doesn't make a lot of good jokes. Reverse Simon Rule. That will NEVER get old. It was closed because I actually did report it to the mods. Link to comment Share on other sites More sharing options...
/dev/null Posted May 13, 2012 Share Posted May 13, 2012 youtube.com/watch?v=RD7DCwXR2vY Dude, you do realize that The Young Turks is the Left's asshatery version of the Right and Glenn Beck? Link to comment Share on other sites More sharing options...
MARCELL DAREUS POWER Posted May 13, 2012 Share Posted May 13, 2012 (edited) Auto Companies bailouts. Do I need to say anymore? which was the right thing to do, because although its not a purely owned state enterprise like the post office now, it forced the corporation to keep workers with the bailout instead of cutting an running... you see, most of the time there is a bailout for capital, ie banks, investors, etc. the auto bailout was for workers primarily. to big to fail happens because of government intervention created by lobbying from the big business sector. this is why romney was against the auto bailout, it was worker friendly. the auto bailout was a great example of democratic socialism, similar to europe. you see, when bailouts occur for hyper corporate structures, the right loves it... but when protection occurs for workers, thats socialism... lol Nobody is possibly this stupid. Now you're just trolling. It was closed because I actually did report it to the mods. dont like getting called out on your bs? Edited May 13, 2012 by MARCELL DAREUS POWER Link to comment Share on other sites More sharing options...
MARCELL DAREUS POWER Posted May 13, 2012 Share Posted May 13, 2012 socialism for the rich, capitalism for the rest of us workers... :wallbash: :wallbash: Link to comment Share on other sites More sharing options...
meazza Posted May 13, 2012 Share Posted May 13, 2012 socialism for the rich, capitalism for the rest of us workers... :wallbash: :wallbash: Shut the !@#$ up you waste of bandwidth Link to comment Share on other sites More sharing options...
Recommended Posts