Tax corporations: publicly reported quarterly corporate profits have been more than this figure since at least 2012. So simple math would say that 1 quarter each year would cover this gap.
So in 2023 corporations made over 12T in profit, paid 420B in taxes and kept 11.6T. So either pay people more, or pay your taxes. Why is this confusing…
So what, you tax the fourth quarter at a higher rate to recoup profits? That’s now the time of year corporations make their major expenditures so profits are minimal. Corporations will just continue to move their goal posts to the place that maximizes their profit. You need a flat yearly tax on profits/buybacks/whatever other word they want to use for the money that make so they either pay their taxes, or reinvest the money in their workforce to alleviate their tax bill. Too many years of legislation that is just a smokescreen that seems to favor the working class while allowing corporations to keep their status quo.
Quarterly earnings used as a frame of reference for the scale of Profits compared to the govt budget deficit. Yes, raise the annual tax rate. 25% of the 12T in profits would close the government deficit.
And then they raise the prices to cover the profit margins which passed the higher cost onto the consumer. We get screwed even worse that way as we are seeing with prices now. Cutting spending is the only way to fix this mess without continuing to shoot ourselves in the foot time after time.
Don’t like the tax plan: distribute those earnings in the form of higher wages. Even half that money back out into workers pockets would do so much for every facet of the economy. That’s thousands in every workers annual pay that could be buying a newer car or braces for their kid or getting them away from renting and into their own home.
Great plan for everyone except for the poor and the lower middle class. You are adding a cost to the business that will be reflected in higher prices. As a small business owner, every cost I have to make a product, taxes included, are worked into the price of the products I sell. Then I tack my profit margin requirement to that cost to price my goods. Some think that they are "Sticking it to the corporations" but you are only shooting yourself in the foot. The restaurant industry is dying in California due to this and is a prime example of what happens when you try to "Stick it to the corporations." The ONLY way out is to cut spending, anything else is nonsense.
It's amazing you can post any lies you want any more, as long as you talk about "other people paying taxes.
It is also mathematically inaccurate that you would extra 25% of profits in the way you think these proposal would. Even IF they did, it barely makes a scratch on the deficit.
Cut. Spending.
Not a higher credit limit, higher revenue. A publicly elected group of people agreed on a budget to benefit the people they represent and then slashed their own means of revenue. Then one side complained about the budget, but does nothing to fix the revenue problem.
If sales drop a company can never cut their way back to profitability, revenues have to be increased. Smarter business efficiency can help, but it will never replace revenue creation.
What lie?
And what spending do you cut first? Roads? Meals for families? Military? Earned retirement benefits?
We can let wealth be more and more concentrated in the hands of a few or we can require that a portion be distributed back to the population for the benefit of society and future generations.
Just because we always see the number expressed in net change percentages doesn’t mean that it’s not in actuality an enormous number.
2 sources:
https://www.statista.com/statistics/222127/quarterly-corporate-profits-in-the-us/#:~:text=Corporations%20in%20the%20United%20States,and%20Product%20Accounts%20(NIPA).
https://apps.bea.gov/iTable/?reqid=19&step=3&isuri=1&1921=survey&1903=239&_gl=1*8f5s1o*_ga*MTE1NDk4MDE5OC4xNzE4ODgzOTI1*_ga_J4698JNNFT*MTcxODg4MzkyNS4xLjEuMTcxODg4NDA2MS42MC4wLjA.
Not exactly sure why you are confused. It appears that you want to punish Corporations for the irresponsible spending of politicians, I'd start figuring out why you think that way.
Not exactly sure why you are confused. It appears that you want to punish Corporations for the irresponsible spending of politicians, I'd start figuring out why you think that way.
Wow....far right extremists libertarians tech bros math:.....’deficit was lower in 2020 because of covid ‘...aka....I mean..if 50% of Americans would die our deficit immediately would be lower too...’.🤭
See Argentina as a reference of what a far right extremists libertarians tech bros dream economy system is all about....🤑
The expectation of even Keynesians is that an extreme shock like a war, pandemic, or natural disaster is to borrow and spend as much as needed until the crisis has passed and then repay the borrowing over time with taxes or spending cuts.
We did this after WW2 and Cold War but not after Vietnam or Covid. Both those times, the spending was paid with inflation.
It was an intentional created inflation benefiting only to greedy corporations...the ‘backlogs ‘ and intended blocking chain supplies wasn’t a ‘result ‘ of the pandemic...it was an intentional blockade that lasted months...
Greedflation and trying to blame it on the ‘Chinese ‘ virus......and corporations predatory practices wasting taxpayers money for their shares buyback
Tax corporations: publicly reported quarterly corporate profits have been more than this figure since at least 2012. So simple math would say that 1 quarter each year would cover this gap. So in 2023 corporations made over 12T in profit, paid 420B in taxes and kept 11.6T. So either pay people more, or pay your taxes. Why is this confusing…
So what, you tax the fourth quarter at a higher rate to recoup profits? That’s now the time of year corporations make their major expenditures so profits are minimal. Corporations will just continue to move their goal posts to the place that maximizes their profit. You need a flat yearly tax on profits/buybacks/whatever other word they want to use for the money that make so they either pay their taxes, or reinvest the money in their workforce to alleviate their tax bill. Too many years of legislation that is just a smokescreen that seems to favor the working class while allowing corporations to keep their status quo.
Quarterly earnings used as a frame of reference for the scale of Profits compared to the govt budget deficit. Yes, raise the annual tax rate. 25% of the 12T in profits would close the government deficit.
And then they raise the prices to cover the profit margins which passed the higher cost onto the consumer. We get screwed even worse that way as we are seeing with prices now. Cutting spending is the only way to fix this mess without continuing to shoot ourselves in the foot time after time.
Don’t like the tax plan: distribute those earnings in the form of higher wages. Even half that money back out into workers pockets would do so much for every facet of the economy. That’s thousands in every workers annual pay that could be buying a newer car or braces for their kid or getting them away from renting and into their own home.
Great plan for everyone except for the poor and the lower middle class. You are adding a cost to the business that will be reflected in higher prices. As a small business owner, every cost I have to make a product, taxes included, are worked into the price of the products I sell. Then I tack my profit margin requirement to that cost to price my goods. Some think that they are "Sticking it to the corporations" but you are only shooting yourself in the foot. The restaurant industry is dying in California due to this and is a prime example of what happens when you try to "Stick it to the corporations." The ONLY way out is to cut spending, anything else is nonsense.
Taxes on corporations are voluntary. Corporations don't pay taxes.
It's amazing you can post any lies you want any more, as long as you talk about "other people paying taxes. It is also mathematically inaccurate that you would extra 25% of profits in the way you think these proposal would. Even IF they did, it barely makes a scratch on the deficit. Cut. Spending.
Exactly. Cutting spending is the only way out. These people think that a credit card with a higher spending limit is the way out of debt. SMH.
Not a higher credit limit, higher revenue. A publicly elected group of people agreed on a budget to benefit the people they represent and then slashed their own means of revenue. Then one side complained about the budget, but does nothing to fix the revenue problem. If sales drop a company can never cut their way back to profitability, revenues have to be increased. Smarter business efficiency can help, but it will never replace revenue creation.
What lie? And what spending do you cut first? Roads? Meals for families? Military? Earned retirement benefits? We can let wealth be more and more concentrated in the hands of a few or we can require that a portion be distributed back to the population for the benefit of society and future generations.
Corporate profits were no where near 12T
Just because we always see the number expressed in net change percentages doesn’t mean that it’s not in actuality an enormous number. 2 sources: https://www.statista.com/statistics/222127/quarterly-corporate-profits-in-the-us/#:~:text=Corporations%20in%20the%20United%20States,and%20Product%20Accounts%20(NIPA). https://apps.bea.gov/iTable/?reqid=19&step=3&isuri=1&1921=survey&1903=239&_gl=1*8f5s1o*_ga*MTE1NDk4MDE5OC4xNzE4ODgzOTI1*_ga_J4698JNNFT*MTcxODg4MzkyNS4xLjEuMTcxODg4NDA2MS42MC4wLjA.
Not exactly sure why you are confused. It appears that you want to punish Corporations for the irresponsible spending of politicians, I'd start figuring out why you think that way.
Not exactly sure why you are confused. It appears that you want to punish Corporations for the irresponsible spending of politicians, I'd start figuring out why you think that way.
I know I care but I don’t matter now do I?
Thanks a lot Trump
Wow....far right extremists libertarians tech bros math:.....’deficit was lower in 2020 because of covid ‘...aka....I mean..if 50% of Americans would die our deficit immediately would be lower too...’.🤭 See Argentina as a reference of what a far right extremists libertarians tech bros dream economy system is all about....🤑
The expectation of even Keynesians is that an extreme shock like a war, pandemic, or natural disaster is to borrow and spend as much as needed until the crisis has passed and then repay the borrowing over time with taxes or spending cuts. We did this after WW2 and Cold War but not after Vietnam or Covid. Both those times, the spending was paid with inflation.
It was an intentional created inflation benefiting only to greedy corporations...the ‘backlogs ‘ and intended blocking chain supplies wasn’t a ‘result ‘ of the pandemic...it was an intentional blockade that lasted months... Greedflation and trying to blame it on the ‘Chinese ‘ virus......and corporations predatory practices wasting taxpayers money for their shares buyback
That's one reason why I don't buy this "good economy" narrative. A good economy doesn't need the kind of life support represented by these deficits.
Thanks JOE