Biden's Approval Ratings Crushing Anything Trump EVER Got

[oldmanfan]

2 minutes ago, Chef Jim said:

 

It's not the rate it's where on the P&L it's calculated.  

 

And mom and pops (and all corporations) are going to add to their top line to compensate for the top line tax you suggest.  So you propose a 5% or 10% top line tax be prepared for 5%-10% increase in the cost of goods sold.....inflation!   Then you go on to exempt certain gross profits from this top line tax?  So any company/business below that amount pays zero tax?  Please think about how this all works before you throw out suggestions. 

 

I have not said what is the best route.  You say they hide profits in "my scheme".  What scheme have I proposed?  No need to respond because I've proposed no "scheme".  What  I'm saying your suggestion of taxing gross receipts is not well thought out at all.  

 

 

If it cost us all more in goods and services then we asked for it.  As a society we demanded government services but low tax rates leading to a multitrillion dollar debt

[Chef Jim]

Just now, oldmanfan said:

If it cost us all more in goods and services then we asked for it.  As a society we demanded government services but low tax rates leading to a multitrillion dollar debt

 

"We" asked for it?   Who is this "we" you're talking about?  

 

How about the Conservative mantra? Lower taxes less government and less government waste?  

 

You do realize that one of the biggest company line item expense is employee compensation?  So dollars coming into a corporation will be taxed TWICE.  Once as a gross receipt tax and then again through employee compensation?  Again think before your propose.

 

 

[oldmanfan]

3 minutes ago, Chef Jim said:

 

"We" asked for it?   Who is this "we" you're talking about?  

 

How about the Conservative mantra? Lower taxes less government and less government waste?  

 

You do realize that one of the biggest company line item expense is employee compensation?  So dollars coming into a corporation will be taxed TWICE.  Once as a gross receipt tax and then again through employee compensation?  Again think before your propose.

 

 

Conservative mantra?  Don’t make me laugh.  You see what just happened to a real conservative in the House.  We elect there morons who promise to be debtconscious and they never are.  You’re naive yet again.

 

Corporate tax and then employee income tax.  Both flat taxes.  Both justified.  Because we have trillions of dollars of debt that has to be paid.

[Chef Jim]

1 hour ago, oldmanfan said:

Conservative mantra?  Don’t make me laugh.  You see what just happened to a real conservative in the House.  We elect there morons who promise to be debtconscious and they never are.  You’re naive yet again.

 

Corporate tax and then employee income tax.  Both flat taxes.  Both justified.  Because we have trillions of dollars of debt that has to be paid.

Name me one real conservative in the House. Let’s start with what are true conservative beliefs? Can you name at least three?
 

You don’t understand the negative repercussions of taxing gross receipts. 
 

https://taxfoundation.org/gross-receipts-tax/

 

FTA

 

Gross receipts taxes impact firms with low profit margins and high production volumes, as the tax does not account for a business’ costs of production. Startups and entrepreneurs, who typically post losses in early years, may have difficulty paying their tax liability.

 

Gross receipts taxes impose costs on consumers, workers, and shareholders. Prices rise as the tax is shifted onto consumers, impacting those with lower incomes the most. Some firms may lower wages to accommodate the tax, reducing incomes. Other job opportunities may be limited as well.

We need to implement your plan because government has spent us into oblivion. Conservatives are “do not spend more than you make!”  It works for the Individual but for some reason not the government?? 

 

 

 

 

 

 

 

Edited May 16, 2021 by Chef Jim

[oldmanfan]

2 minutes ago, Chef Jim said:

Name me one real conservative in the House. Let’s start with what are true conservative beliefs? Can you name at least three?
 

You don’t understand the negative repercussions of taxing gross receipts. 
 

https://taxfoundation.org/gross-receipts-tax/

 

FTA

 

Gross receipts taxes impact firms with low profit margins and high production volumes, as the tax does not account for a business’ costs of production. Startups and entrepreneurs, who typically post losses in early years, may have difficulty paying their tax liability.

 

Gross receipts taxes impose costs on consumers, workers, and shareholders. Prices rise as the tax is shifted onto consumers, impacting those with lower incomes the most. Some firms may lower wages to accommodate the tax, reducing incomes. Other job opportunities may be limited as well.

 

 

 

 

 

 

 

Conservatives want less government spending, strong national defense, and less government programs.

 

And like it or not the current tax structure is ridiculous and must be changed.  I want a flat tax based on gross revenues.  You don’t.  What is your solution?

[Chef Jim]

2 minutes ago, oldmanfan said:

Conservatives want less government spending, strong national defense, and less government programs.

 

And like it or not the current tax structure is ridiculous and must be changed.  I want a flat tax based on gross revenues.  You don’t.  What is your solution?

The number one Conservative ideal has NOTHING to do with government. The individual is solely responsible for their personal success.  Personal responsibility is a hell of a motivator. 
 

So you don’t want to address the challenges of taxing top line gross receipts?  For an old man you sure sound like a child demanding things with zero thought about how things really work.  TAX GROSS RECEIPT DAMMIT!!!
 

What would I do?

 

1.  Eliminate the ability to shift profits to foreign subsidiaries. 
2.  Eliminate accelerated depreciation

3.  Incentivize US based companies to repatriate foreign assets. 
 

You know....grown up things. 

[SoCal Deek]

4 hours ago, oldmanfan said:

I wouldn’t call myself rich but I do OK and I pay my share.  I just want to be sure the Jeff Bezos’s of the country do the same.

 

The debate everyone is afraid to have is what the actual role of the federal government should be.  Once you know that you then set the tax rates to pay for it. In the 50’s government needed to do a lot post-war and rates were high to reflect that.  This crap with wanting a lot of government spending but low taxes is ridiculous; it makes no mathematical sense.  Sign me up for much more limited government spending.

And in your model if we taxed net profits they’d finagle their books to show no profit.   Don’t be so naive.  

Everyone pays their share. Everyone.  Their share is determined by the Tax Code.  Your 'beef' rests squarely on the Congress.  They set the rules. We, the People, only follow them.

And, regarding the role of the federal government?  Simple: secure the borders, defend the nation, and that's about it.  Everything else should be done at the State and Local level.

[oldmanfan]

1 hour ago, SoCal Deek said:

Everyone pays their share. Everyone.  Their share is determined by the Tax Code.  Your 'beef' rests squarely on the Congress.  They set the rules. We, the People, only follow them.

And, regarding the role of the federal government?  Simple: secure the borders, defend the nation, and that's about it.  Everything else should be done at the State and Local level.

I couldn’t agree more about Congress.  When you and I take over we can work to get a House and Senate that understand who they work for and what they’re in DC for.

 

I do think federal spending can be a bit broader such as for infrastructure.  But as you suggest federal government should only do what the states and local governments cannot do.

1 hour ago, Chef Jim said:

The number one Conservative ideal has NOTHING to do with government. The individual is solely responsible for their personal success.  Personal responsibility is a hell of a motivator. 
 

So you don’t want to address the challenges of taxing top line gross receipts?  For an old man you sure sound like a child demanding things with zero thought about how things really work.  TAX GROSS RECEIPT DAMMIT!!!
 

What would I do?

 

1.  Eliminate the ability to shift profits to foreign subsidiaries. 
2.  Eliminate accelerated depreciation

3.  Incentivize US based companies to repatriate foreign assets. 
 

You know....grown up things. 

Those are all good ideas but are still stuck in the current absurd tax policies.  

[Chef Jim]

48 minutes ago, oldmanfan said:

 

Those are all good ideas but are still stuck in the current absurd tax policies.  

 

Of course they're good ideas.   

 

Those ideas are not part of the current tax policies so therefore they are not stuck in the current "absurd" tax policies.  

 

And keep in mind we are talking about only one side of the government balance sheet.  How about an amendment that requires the government only spend, let's say, 80% of that years tax receipts.  The other 20% goes into a "rainy day fund" that can be used for things such as pandemics, market crashes, high unemployment, stimulus, war.   Because the government spends every penny it takes in plus there is always a mad scramble to print money to fix problems that have always, and always will, come up. 

[oldmanfan]

2 minutes ago, Chef Jim said:

 

Of course they're good ideas.   

 

Those ideas are not part of the current tax policies so therefore they are not stuck in the current "absurd" tax policies.  

 

And keep in mind we are talking about only one side of the government balance sheet.  How about an amendment that requires the government only spend, let's say, 80% of that years tax receipts.  The other 20% goes into a "rainy day fund" that can be used for things such as pandemics, market crashes, high unemployment, stimulus, war.   Because the government spends every penny it takes in plus there is always a mad scramble to print money to fix problems that have always, and always will, come up. 

I would be for that amendment.  I would also be for a balanced budget amendment in a federal level.

[Chef Jim]

22 hours ago, oldmanfan said:

I would be for that amendment.  I would also be for a balanced budget amendment in a federal level.

 

Let's work on that before they start raising taxes.  

[reddogblitz]

To a business a tax is a cost of goods sold.  If costs go up the price goes up. Then the little guy takes it in the shorts again.  They're not gonna be benevolent citizens and pay the tax increase out of their profits.  You're gonna pay it.

[Chef Jim]

Approval ratings are for the prom King and Queen.

 

The teacher that most people look back upon with the most fondness was the one they considered the biggest a-hole at the time.  

24 minutes ago, reddogblitz said:

To a business a tax is a cost of goods sold. 

 

To an accountant they are not.  But @oldmanfan's plan of taxing gross revenues they become COGS which is dumb. 

[Beast]

On 5/11/2021 at 2:09 PM, ALF said:

 

Look at countries that did it right.  Not stopping all air travel from China and Europe early on was a disaster.

 

My God. Your stupidity is astounding.

[BillStime]

 

[Chef Jim]

8 hours ago, BillStime said:

 

Nice poll. 60% net approval with 33% of those somewhat approve. What the ***** ideas that even mean?  
 

While a net 60% of Americans approve of McDonalds 33% those somewhat approve citing “Hey! Ya gotta eat right?”

[SoCal Deek]

On 5/19/2021 at 2:49 PM, reddogblitz said:

To a business a tax is a cost of goods sold.  If costs go up the price goes up. Then the little guy takes it in the shorts again.  They're not gonna be benevolent citizens and pay the tax increase out of their profits.  You're gonna pay it.

A common misconception. Those mysterious business ‘profits’ everyone likes to cite are also taxed. For the vast, vast majority of businesses they are distributed to the owners of the business in the form of a bonus which is then taxed at the higher personal income rates. Nobody is getting away without paying taxes...believe me! 

[Chef Jim]

1 minute ago, SoCal Deek said:

A common misconception. Those mysterious business ‘profits’ everyone likes to cite are also taxed. For the vast, vast majority of businesses they are distributed to the owners of the business in the form of a bonus which is then taxed at the higher personal income rates. Nobody is getting away without paying taxes...believe me! 

And everyone ***** about large corporations using legal tax loopholes. I can’t tell you the number of small business tax returns I’ve seen where they are not using loopholes but are actually running things through their business that they are not allowed to but do anyway to reduce their taxable income.  

[Doc]

Still obviously over-sampling Dems.

[BillStime]

Hilarious - these queens are so bitter Trump never ever saw approval ratings like this... I wonder why?