Obama to propose $1.5 trillion in new tax revenue

[JLM]

Anyone who works for GM, or Goldman Sachs, or any of the wall street banks should pay 75% income tax.

Anyone who works for a defence contractor should pay 75% income tax.



Yeah, that makes a LOT of sense! :roll:

 

[DurkaDurka]

I think the US government should open a new revenue stream by fining corporations for every job they outsource out to China etc.

 

[Retired_Can_Soldier]

I think the US government should open a new revenue stream by fining corporations for every job they outsource out to China etc.

Now were talking.

 

[captain morgan]

What do you suggest cutting in social programs that will balance the budget?

You tell me... If they can't afford them, they should be looking into their sustainability. This is exactly what Greece is being forced to do.

In the end, I am not American; it is their problem, but Obama has pulled the trigger and the writing is on the wall. Even though the legislation will not pass, you can bet that is a large % of "the rich" demographic that is assessing their options in terms of where they can relocate themselves and/or money to shelter themselves from the insatiable demands of "the entitled".

It's not a coincidence that a number of major US corps are transforming themselves into 'International Corporate Entities" and head office in the UAE, Cyprus or the Caymans. They will pay the required taxes they owe to the States from the revenues generated in the USA, but seeing how they are now head quartered elsewhere, the US Feds will have no right to their 'global revenues'. Their key executives ("the rich") will move with the corp and take their cash with them.

Ultimately, the US gvt will see fewer tax dollars from them and it will be those international communities that benefit from their involvement.

That is the big risk that Obama is running right now.

 

[TenPenny]

Hasn't GM repaid their debt?

No. They repaid some of their debt by borrowing more, and claimed that they repaid it.

No matter what, GM exists because of corporate welfare.

Anyone who works for GM, or Goldman Sachs, or any of the wall street banks should pay 75% income tax.

Anyone who works for a defence contractor should pay 75% income tax.



Yeah, that makes a LOT of sense! :roll:

It does if you think about where their money comes from. It's corporate welfare, mixed with pork barrelling. Think about it, while you whine about people having to pay taxes for services they don't use.

 

[JLM]

G.M. repaid the debt to the Gov't. about 2 years ago.

No. They repaid some of their debt by borrowing more, and claimed that they repaid it.

No matter what, GM exists because of corporate welfare.

It does if you think about where their money comes from. It's corporate welfare, mixed with pork barrelling. Think about it, while you whine about people having to pay taxes for services they don't use.

I'm wondering if pork barreling in some cases happens because one M.P./ M.L.A. is maybe a little hungrier (and harder working) than the rest.

 

[TenPenny]

G.M. repaid the debt to the Gov't. about 2 years ago.

I think you might want to do some research on the issue. GM has not repaid the money.

Just a little enlightenment:

It is far from clear how GM and the Obama administration could honestly say, much less trumpet in prime time television ads, that GM repaid its TARP loans in any meaningful way. The reality is that GM got additional TARP billions from a Treasury escrow account filled with taxpayer dollars. Taxpayers have not been paid back “in full” and are still on the hook for the TARP stock investment in GM. Whether taxpayer funds are ultimately recovered depends upon the administration’s ability to sell GM stock at a profit some day. Of course, we all hope it works out that way, and it might. But, the American people deserve more than puffed-up press releases and misleading commercials claiming that GM paid its loans back to the government with money it earned. I recognize that one of the goals of the GM ad campaign is to build trust, but GM did it all wrong, apparently with some help from the administration. Shifting bailout money from GM debt to GM stock is not the same as repaying it. Stock is riskier than debt. Maybe it’s a good idea. Maybe it’s a step in the right direction, maybe not. Only time will tell. But, we should be clear with the American people about what happened here.
The Wall Street Journal reports that Treasury is beginning to admit the truth. Treasury claims the source of the funds was “clearly disclosed” all along. Well, that might be technically true. However, to understand the disclosure you have to be a sophisticated investor with time to pore over the fine print buried in massive SEC filings and government reports prepared by independent watchdogs with teams of auditors. The average citizen, on the other hand, just sees the GM CEO saying that GM has paid back the taxpayer “in full.” The truth is that GM originally received over $49 billion from the US government and many billions remain to be recouped. That is why we were told at the Senate Finance Committee hearing that TARP losses related to the auto companies are expected to exceed $30 billion


Read more: Did General Motors Really Repay Its Taxpayer Bailout? | Fox News

 

[JLM]

I think you might want to do some research on the issue. GM has not repaid the money.

Just a little enlightenment:


[/FONT][/FONT][/COLOR]

GM repays loans from U.S., Canada - USATODAY.com

There you go, satisfied now?

 

[gopher]

Stephen King is an Uber Rich with a net worth of $200 million and he is in the 50% tax bracket.

Funny how the highest bracket is only 35% for 2010 and that's before the innumerable tax credits are applied. By what miracle did he exceed that amount?

 

[mentalfloss]

I think the US government should open a new revenue stream by fining corporations for every job they outsource out to China etc.

What kind of absurd socialistic nightmare idea is this?

 

[captain morgan]

Funny how the highest bracket is only 35% for 2010 and that's before the innumerable tax credits are applied. By what miracle did he exceed that amount?

That bastard!.. You outta go over there Gopher - right now - and force him to give up one of his kidneys and maybe a lung so you can sell it as a penalty on what he owes.

Blame Bush
Blame Bush
Blame Bush

 

[JLM]

I think the US government should open a new revenue stream by fining corporations for every job they outsource out to China etc.

Even if the job was building chop sticks?

 

[mentalfloss]

I squarely blame Bush senior for this problem.

 

[captain morgan]

I squarely blame Bush senior for this problem.

Not even close... It's King's fault for even writing his first book.... Bloody capitalist

 

[mentalfloss]

Not even close... It's King's fault for even writing his first book.... Bloody capitalist

Yes. Bloody capitalist. DOWN WITH THE CAPITALISTS.

or something

 

[captain morgan]

Yeah... Nuke 'em all, right comrade?

 

[Kreskin]

Funny how the highest bracket is only 35% for 2010 and that's before the innumerable tax credits are applied. By what miracle did he exceed that amount?

Maybe he wrote a book called Taxful Things

 

[captain morgan]

I blame the education system for even teaching him how to read and write. We wouldn't be in this mess if we still lived a hunter-gatherer lifestyle.

 

[mentalfloss]

Yeah... Nuke 'em all, right comrade?

Yes. With communist bombs constructed one person at a time.

 

[captain morgan]

Yes, constructed by the people for the purpose of bombing the people.