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The future of Bidenomics: You pay Social Security tax on all of your income?
(www.foxbusiness.com)
this post was submitted on 04 Jan 2024
-42 points (11.1% liked)
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Gotta jack that corporate tax rate way up Morty. Get it way up there. Financial services, insurance and landlords are like 20% of the GDP alone. Tax the ever living fuck out of those leaches.
We already have some of the highest corporate taxes in the world. Your solution is to tax them more when they can just move to a lower tax income country?
https://itep.org/55-profitable-corporations-zero-corporate-tax/
And? Use your words.
If you can't put two and two together that's on you.
It’s your weird argument. Don’t expect me to understand your illogical arguments.
Ahhhh, the classic "I'm just going to say nonsense and hope people don't notice."
America's taxes are below the global average and rank the 81st highest in the world, which is a bizzare definition of some of the highest in the world.
https://taxfoundation.org/data/all/global/corporate-tax-rates-by-country-2022/#Highest
https://www.msci.org/how-does-the-united-states-corporate-tax-rate-compare-to-other-countries/#:~:text=As%20readers%20may%20recall%2C%20federal,the%20middle%20of%20the%20pack.
Keep up.
That decision brought the country’s statutory corporate income tax rate from the fourth highest in the world
If we raised it as people are suggesting. We’d be back to one of the highest rates. Compared to most of our peers, we already have high taxation.
What kind of insane conservative nonsense is this? "We used to have something" means we still have it? Or people wanting to do something means it already exists?
That is the topic. Increasing the taxes. SMH.
We should be middle of the road for taxes. That’s what we receive in return.
Maybe you don't understand how the word "already" works?
Hell no. USA #1. We should have a 50% tax rate or higher. Especially for companies that only make money by manipulating money.
So you’d be fine being taxed at 50%? I wouldn’t. In most other countries the citizens pay a higher burden than the corporations. So you’d be fine with 50% of your wages gone?
Hold your goalposts there partner, corporations might pretend to be people, but last I checked, people still aren't corporations.
You can lose this argument gracefully, or you can lose it like a clown, your choice.
You’re the clown who isn’t being clear.
If we tax corporations to death, they’ll just move to a lower tax area.
It’s what they did with manufacturing. Taxes need to be fair. Otherwise companies won’t play.
Make them fair for everyone, by raising them.
For everyone ? I’m fine with that. Everyone should pay their fair share.
I'm glad we agree. People making less than ~300K are certainly paying their fair share, it's time for corporations to step up and face that 50%+ tax rate.
The rich can follow suit.
They are not. Not even close.
I agree, corporations aren't paying their fair share at all.
I am paid well for my job. I make over 400k a year.
The only group stealing my money is the government.
Between that, and you owning several houses, no wonder you can't fathom the failures of housing market.
I don’t see a failure. The housing market is strong.
Then explain how the market has failed. I’d love to hear how you think it’s failed.
Even if it was explained to you, you'd find a way to not understand
There you go again. Before you start crying, understand this is why people call you names. It’s your weird behavior.
Projection if I've ever saw it lol
There you go again
Several people have tried already in this waste of a thread, you rejected all of them.
Feels like you dont see failure because your house lacks mirrors.
Nobody has tried. Calling something a failure doesn’t make it true.
https://youtu.be/LQIxbwfMVlM?si=YQAq0Qf27VR2Ucyo
Last chance.
Here is something educational that you can watch from someone, who has already made a lot of points that are relevant to social spending.
This guy has more time for these things then I do and even does a better job.
I’m not a child. I don’t watch YouTube. Articulate your point yourself.
There you go again.
One problem is that housing affordability is currently at or near record lows.
https://www.nar.realtor/blogs/economists-outlook/housing-affordability-conditions-tumble-in-october-2023
"A mortgage is affordable if the mortgage payment (principal and interest) amounts to 25% or less of the family's income."
What percent of your family's income do you pay (or have paid in the past) for the principle and interest on your mortgage?
Since your high income gives you some flexibility in choosing a housing situation I'm curious how much of your income you decided to allocate to this expense.
For all three of my homes I pay about 5000 a month. My monthly income is 30k a month. That is my guaranteed pay per month that I use for budgeting. Any other income is not used in my budget.
Thanks for the reply. So you spend about 17% of your income on housing. (assuming 5k is the total for all three). Some people are currently looking at spending 25-30% of their income or more on housing just to get the cheapest houses available. Imagine if you had to spend 9000 each month just to be able to live in one house and maybe you can understand why some people are upset.
If you meant 5000 each for the three houses then hopefully the two not currently owner-occupied are either being rented out or generating equity through appreciation. Therefore they function more as an investment asset than a primary residence.
I live in all of them. I put large downpayment down. I like to keep my housing to now more than 30% of my income. 30% is the recommend limit and try to stay under that.
You're living in a fantasy world if you think US cooperations pay "some of the highest corporate taxes in the world".
And YES. I'd pass a law mandating that anyone wanting to draw profit from the U.S. market has to pay U.S. taxes. Fuck those corporate freeloaders. Their tax breaks don't benefit me at all.
Those tax breaks do benefit you. You don’t think wages benefit the employees ?
You're still in that fantasy land where you think trickle down works.
Worked great for me.
All your masters had to do was throw you a slightly bigger bone than the other dogs in the yard to distract you from the fact that they're eating steak in orbit instead of sharing the wealth.
I’m not worried with what others are doing. Jealousy is a trait of the left. I’m worried about what I’m doing.
Having your head in the sand explains why you, and most conservatives, know nothing of value, so that tracks.