Elon meets with Trump

[Tiberius]

14 minutes ago, Tenhigh said:

We need to cut national spending across the board.  Pols on both sides have been shameful with our nation's coffers, and it's time to fix it, as it's not sustainable.  

Whatever

[BillStime]

8 minutes ago, Tenhigh said:

Is this a question? A statement?  Which tax cuts do you hate, Trump's? Many of them are set to expire next year, do you think Biden extend them if he wins?

 

 

No idea - but you know what's interesting about Trump's tax cuts?

 

While personal tax provisions will revert to 2017 levels, the corporate tax cuts do not expire.

 

I wonder why.

 

Trump is *always* looking out for you, 10.

 

[Tenhigh]

8 minutes ago, BillStime said:

 

No idea - but you know what's interesting about Trump's tax cuts?

 

While personal tax provisions will revert to 2017 levels, the corporate tax cuts do not expire.

 

I wonder why.

 

Trump is *always* looking out for you, 10.

 

I am not surprised that you have no idea.  Listen,  I work for a company.  Those tax cuts incent keeping business onshore and gives my company the ability to pay me higher wages and bonuses. It also makes it possible for us to invest back into our business, creating opportunities for new revenue.  That increased revenue and salary are taxed. 

27 minutes ago, Tiberius said:

Whatever

Good talk Tibs.

[Tiberius]

6 minutes ago, Tenhigh said:

I am not surprised that you have no idea.  Listen,  I work for a company.  Those tax cuts incent keeping business onshore and gives my company the ability to pay me higher wages and bonuses. It also makes it possible for us to invest back into our business, creating opportunities for new revenue.  That increased revenue and salary are taxed. 

Good talk Tibs.

Well I'm busy! Hope your day is going well...

[Tenhigh]

Just now, Tiberius said:

Well I'm busy! Hope your day is going well...

Lol, fair enough.  My day is going great, tks for asking.  

[BillStime]

33 minutes ago, Tenhigh said:

Those tax cuts incent keeping business onshore and gives my company the ability to pay me higher wages and bonuses.

You might be paid more, etc.. but the Trump tax cuts did the exact opposite.
 

The Trump tax cuts lessened taxes on overseas profits of corporate America, encouraging them to shift jobs and facilities to lower-tax countries. The reduction in corporate tax rate also made it attractive to keep profits offshore, promoting job offshoring.

 

Because I know you will ask for proof - so - look up these three provisions in the actual tax act.

 

Territorial Tax System

Reduced Tax Rate on Foreign Profits

Base Erosion and Anti-Abuse Tax (BEAT)

 

And if the Trump tax cut did incentive keeping jobs and profits onshore - why is this act needed:

 

No Tax Breaks for Outsourcing Act

[phypon]

11 minutes ago, BillStime said:

You might be paid more, etc.. but the Trump tax cuts did the exact opposite.
 

The Trump tax cuts lessened taxes on overseas profits of corporate America, encouraging them to shift jobs and facilities to lower-tax countries. The reduction in corporate tax rate also made it attractive to keep profits offshore, promoting job offshoring.

 

Because I know you will ask for proof - so - look up these three provisions in the actual tax act.

 

Territorial Tax System

Reduced Tax Rate on Foreign Profits

Base Erosion and Anti-Abuse Tax (BEAT)

 

And if the Trump tax cut did incentive keeping jobs and profits onshore - why is this act needed:

 

No Tax Breaks for Outsourcing Act

Hi, BillsTime.  How are you today?  Can't believe you are agreeing with Trump for once.  TRUMP!!  

[BillStime]

9 minutes ago, phypon said:

Hi, BillsTime.  How are you today?  Can't believe you are agreeing with Trump for once.  TRUMP!!  

 

So much winning, bro!

 

[Tommy Callahan]

personal tax cuts should come back. people spending creates less bubbles.  Massive federal spending ends up at the top and the donors' pockets.

 

 

Remove tax exempt from PACs and let the rich pay their fair share vs donating to PACS that then promote politicians and wedge topics that promote the system/spending that ends up right back in their pockets.  the left talks of removing tax exempt from churches and doesn't want to cut cost. that would raise revenue.

 

Many hear corporate, and they automatically go to the fortune 500.  but 95% of corporations are small. like the coffee shop and mechanic on the corner.  The global ones can avoid those cost by offshoring and moving HQ to places like Ireland and Panama.  the mom and pop (majority), not so much.

 

probably collect more revenue if the largest jump in our progressive tax quintiles was not right at the median household income level.  Why does federal receipts jump from 12% to 22% right at median household income level? and was it always like this? 

 

https://www.irs.gov/filing/federal-income-tax-rates-and-brackets

 

Tax rate on taxable income from minimum income up to the top.

10%    $0$11,000

12%    $11,001$44,725

22%   $44,726$95,375

24%   $95,376$182,100

32%   $182,101$231,250

35%   $231,251$578,125

37%   $578,126And up

 

The median household income is $74,580.  

 

 

The rich pay the majority of federal receipts. the middle gets squeezed.

 

The poor, homeless, fixed income are just trying to survive with the dollar being worth less every day.

 

Removing the cap on the debt back in 2023 was a horrible Idea.

 

 

 

 

 

 

 

 

 

[T master]

5 hours ago, BillStime said:

Trump’s new daddy…

 

Trump owes more debt than he can repay, which compromises him and poses a significant national security risk.

 

Americans know this. 

 

Well then he will fit right in with the gov't perfect fit because none of them wombats know fiscal responsibility  !! The US deficit will NEVER be paid off !! 

[Tenhigh]

1 hour ago, BillStime said:

You might be paid more, etc.. but the Trump tax cuts did the exact opposite.
 

The Trump tax cuts lessened taxes on overseas profits of corporate America, encouraging them to shift jobs and facilities to lower-tax countries. The reduction in corporate tax rate also made it attractive to keep profits offshore, promoting job offshoring.

 

Because I know you will ask for proof - so - look up these three provisions in the actual tax act.

 

Territorial Tax System

Reduced Tax Rate on Foreign Profits

Base Erosion and Anti-Abuse Tax (BEAT)

 

And if the Trump tax cut did incentive keeping jobs and profits onshore - why is this act needed:

 

No Tax Breaks for Outsourcing Act

You aren't entirely wrong here, but I have a few things to take care of before I can give you a full reply. Thanks for the reasonable discussion. 

Edited March 6 by Tenhigh

[US Egg]

6 hours ago, KDIGGZ said:

Elon has F U money meaning he's not under anyone's power. He doesn't have to bow down to the deep state and that makes him dangerous in their eyes. Whoever is really running this country needs to be defeated. It goes deeper than Democrats vs Republicans. They own politicians on both sides

I also wonder if this is Musk’s way of saying F U to the ingrate Democrats.

 

He let the Ukraine use Starlink in the Battle of Kyiv in early 2022, it was used to carry out military operations by the Ukraine until late last year.

 

Then the Dems screw him over in, surprise, surprise, Delaware.

Edited March 6 by US Egg

[BillStime]

6 minutes ago, US Egg said:

I also wonder if this is Musk’s way of saying F U to the ingrate Democrats.

 

How much in US taxpayer dollars go to Elon Musk?

 

13 minutes ago, US Egg said:

He helps them out in the Ukraine and they screw him over in, surprise, surprise, Delaware.

 

Clearly, you're not familiar with public companies and SEC rules. Elon Musk's proposed compensation package was the largest in history, and the judge was acting in the best interest of Tesla's shareholders.

 

You should be upset with Richard Tornetta for bringing the suit objecting to the pay package for Musk — who until last week held the title of richest man in the world — was filed in 2018 by Wilmington lawyer Gregory Varallo on behalf of Richard J. Tornetta, a Tesla shareholder and Norristown native who formerly played drums in a thrash-metal band, the Lords of Correction.

 

 

 

[Tenhigh]

5 hours ago, BillStime said:

You might be paid more, etc.. but the Trump tax cuts did the exact opposite.
 

The Trump tax cuts lessened taxes on overseas profits of corporate America, encouraging them to shift jobs and facilities to lower-tax countries. The reduction in corporate tax rate also made it attractive to keep profits offshore, promoting job offshoring.

 

Because I know you will ask for proof - so - look up these three provisions in the actual tax act.

 

Territorial Tax System

Reduced Tax Rate on Foreign Profits

Base Erosion and Anti-Abuse Tax (BEAT)

 

And if the Trump tax cut did incentive keeping jobs and profits onshore - why is this act needed:

 

No Tax Breaks for Outsourcing Act

Here, read this and then let's discuss tomorrow. 

https://www.washingtonpost.com/politics/2020/09/25/bidens-claim-that-trumps-tax-bill-gave-companies-reward-offshoring-jobs/

Edited March 6 by Tenhigh

[Tenhigh]

2 hours ago, BillStime said:

 

How much in US taxpayer dollars go to Elon Musk?

 

 

Clearly, you're not familiar with public companies and SEC rules. Elon Musk's proposed compensation package was the largest in history, and the judge was acting in the best interest of Tesla's shareholders.

 

You should be upset with Richard Tornetta for bringing the suit objecting to the pay package for Musk — who until last week held the title of richest man in the world — was filed in 2018 by Wilmington lawyer Gregory Varallo on behalf of Richard J. Tornetta, a Tesla shareholder and Norristown native who formerly played drums in a thrash-metal band, the Lords of Correction.

 

 

 

Pay package was excessive,  but the Tesla board put it through.  If I own Tesla I am showing up to the shareholders meeting and demanding answers.  Did you see the scumbag lawyers are trying to get paid $290k an HOUR?  These are your real criminals. 

[BillStime]

1 minute ago, Tenhigh said:

Pay package was excessive,  but the Tesla board put it through.  If I own Tesla I am showing up to the shareholders meeting and demanding answers.

 

Clearly, Tesla's shareholders were displeased with the package - they sued and won.

 

Remember, Elon relocating his headquarters to Texas does not protect him from SEC scrutiny and future lawsuits from shareholders.

 

9 minutes ago, Tenhigh said:

Did you see the scumbag lawyers are trying to get paid $290k an HOUR?  These are your real criminals. 

Agreed - they should get paid but that’s absurd.

 

Tesla shareholders' bid for $6 bln in legal fees over Musk pay could fan flames for Delaware critics

 

 

[US Egg]

Musk is paying the price for exposing the White House getting Facebook and Twitter to censor criticism of Biden.

[Capco]

15 hours ago, Tommy Callahan said:

This seems sustainable. 

 

 

 

Dems represent special interest, globalist and the will of the fortune 7.

Tax cuts for corporations and the wealthiest Americans inevitably lower revenues and increase yearly deficits.  The capitalist economy did not collapse into socialism when we had much higher effective tax rates; businesses and wealthy people did not vanish due to financial ruin.  In fact, we were able to do some pretty amazing things as a society before 1980.  

Cutting spending alone will not fix this problem.  Obviously there is graft in the budget with the pork and patronage that can always be reduced, but taxes on the wealthy and highest earners must go up either directly or via the strategic elimination of loopholes in the tax code.  

The US still gets a remarkable deal when it comes to borrowing money.  And don't forget that Americans own much of that debt already.  The Social Security Administration is the single largest investor in Treasury securities.  A lot of the payouts from Treasuries go right back into our pockets anyway.  

It's not like there will be a time in the foreseeable future when the federal government is debt free and ceases issuing Treasuries any longer.  The world financial markets and US Treasuries are deeply intertwined.  Their function as the safest investment in the world serves the dual purpose of allowing us to borrow money at the lowest rates anywhere whilst providing a hedge for riskier investments and thereby stabilizing the entire global financial system.  

[Tommy Callahan]

4 hours ago, Capco said:

Tax cuts for corporations and the wealthiest Americans inevitably lower revenues and increase yearly deficits.  The capitalist economy did not collapse into socialism when we had much higher effective tax rates; businesses and wealthy people did not vanish due to financial ruin.  In fact, we were able to do some pretty amazing things as a society before 1980.  

Cutting spending alone will not fix this problem.  Obviously there is graft in the budget with the pork and patronage that can always be reduced, but taxes on the wealthy and highest earners must go up either directly or via the strategic elimination of loopholes in the tax code.  

The US still gets a remarkable deal when it comes to borrowing money.  And don't forget that Americans own much of that debt already.  The Social Security Administration is the single largest investor in Treasury securities.  A lot of the payouts from Treasuries go right back into our pockets anyway.  

It's not like there will be a time in the foreseeable future when the federal government is debt free and ceases issuing Treasuries any longer.  The world financial markets and US Treasuries are deeply intertwined.  Their function as the safest investment in the world serves the dual purpose of allowing us to borrow money at the lowest rates anywhere whilst providing a hedge for riskier investments and thereby stabilizing the entire global financial system.  

The wealthy and middle already pay 90 percent of federal receipts. 

 

Massive federal spending and deficit spending are only making the problem worse.  

 

When people have money to spend, the economy moves naturally ..

 

But there will be the point the fed prints money till it's with nothing 

 

It's not 1950 anymore.  Lots of things being used to buy oil other than dollars. 

 

The current economic 

[Capco]

4 hours ago, Tommy Callahan said:

When people have money to spend, the economy moves naturally ..

In a consumption-driven economy, the economy does best when the greatest number of consumers have enough money to consume.  A household of 4 that earns $1mil/year does not consume at a proportionally equivalent rate as a household of 4 that earns $100k/year.  They do not eat 10x as many meals, or own 10x as many cars, or drive 10x as many miles, or utilize 10x as much electricity, or own 10x as many houses.  

The excess wealth from this difference in consumption is often invested, but we have seen more and more lately that the elites use that money to invest in themselves and maintaining their own positions.  Corporations use more and more of their profits for stock buybacks to increase share prices and less in new training, technology, and innovation.  

Alternatively, the government can tax some of that excess wealth and use it to invest in things that help the greatest number of individual persons, including things that the private sector would be reluctant to invest in due to a combination of low returns, high risk, and lack of current demand.  Infrastructure and government services (especially in rural areas) are probably the classic examples of that.  

The notion that unregulated markets are inherently infallible and always suffer when government gets involved is absurd.  Those regulations came into existence because of the damage that unregulated markets wrought on economies.  

And likewise with regards to progressive income tax brackets, the reason why they are so important is the time value of money.  Simply put, any money in excess of that required for basic consumption makes acquiring more money exponentially easier per unit of labor.  Money already has a natural tendency to accumulate in fewer and fewer hands over time, which is why the redistribution of income from progressive taxation is not only fair, it is essential to economic stability.