Kathryn
It was on fire when I laid down on it.
Not all of it but some of it. Pretty much five percent across the board.
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Small Government - A Trump Goal - Apparently
- Thread starter Kenny
- Start date
For me, another encouraging sign is that not only are former Democrats Gabbard and Kennedy are in the decision making Cabinet but also many Democrats are excited about some of the potential outcomes.
To me this speaks of unity and cooperation in the middle of what used to be contention and separation
To me this speaks of unity and cooperation in the middle of what used to be contention and separation
Abrahamic religions are what they do.
And their record is one including great oppression,
violence, disease, death, theft, genocide, ignorance,
& cult behavior.
And these religions have a better alternative, ie,
secular humanism. Capitalism has no better alternative.
I enjoy capitalism in a country whereHowever, usury is widely known to be anti-social, and mentioned in both Bible and Qur'an.
Capitalism is based on usury.
interest rates are highly regulated.
No "usury" as I understand the term.
So usury is not essential to capitalism.
Argentbear
Well-Known Member
SO share an idea. Just how is Trump going to get the oil companies to pick and use the several thousand drilling permits that have been sitting untouched from Trump's first administration?
Subsidies?
Royal command?
Alien826
No religious beliefs
If an individual is short of money, they have two options. Spend less and/or earn more. (Neither may be actually available, but in principle that's it).
The Government has the same two options. Cut spending and/or increase taxation. The problem in the USA is that most people (most of all the rich who would be least affected by it) don't want to pay more tax. Instead they want to reduce taxation with the weird idea that it will somehow help. If I suggested that you (if you were in that position) should work fewer hours in order to be able to pay your bills you would laugh at me. Cutting spending is the preferred option, but I don't think better efficiency will be enough. Inevitably the call is to cut programs that help the most vulnerable in our society. Again the rich don't object to that as they don't need such programs.
In 1970, the top rate of tax was 70%. The rich were rich enough and there was a thriving middle class. The wealth gap between rich and middle class was considerable, but nothing like what we have now. There were other problems, but this is a time that is looked back on by many as a "golden age". Then along came Reagan ...
Kathryn
It was on fire when I laid down on it.
There were a LOT of problems if you were anything but a white male.
This ignores the fact that very very few actually
paid that high marginal tax rate. The tax structure
was very different, with many generous deductions
people used to lower their taxable income, eg,
recapturing accelerated depreciation lower capital
gains tax rates.
Alien826
No religious beliefs
No.
I've looked into federal tax revenue.
BINGO!!
Do you believe that Trump will reduce theBINGO!!
budget deficit &/or the national debt?
On the surface, I would agree. I’m not quite sure its that simple.
Let me give you an example:
In our tax laws, homeowners can deduct interest as well as per child standard deductions and earned income tax credit for low and middle income earners. People use these to pay less taxes.
When I opened a business of mobile home repairs, I deducted all the expenses to pay less taxes. On one, which had a loss, I deducted the loss to pay less taxes.
So, what I’m saying is, everyone wants to pay less taxes and, if there are deductions or expenses to reduce what we pay taxes on, we are happy to do so. If you close one of those deduction, we roll with the dice and live with the outcome.
Big business does the same. They use the tax codes to reduce what taxes they pay. Who wants to pay more taxes?
If we want them to pay more, someone has to close the deductions that the tax codes offer, assuming it is fair. If the loopholes are not fair, then let’s close the loopholes. Which I am in favor if if they are not fair - fair like deducting losses.
I don’t think they are any different than the rest of us.
What do you think?
Alien826
No religious beliefs
Nevertheless the wealth gap has ballooned since Reagan. What do you blame?
Twilight Hue
Twilight, not bright nor dark, good nor bad.
I dunno maybe let them aquire them without having to wait 25 years for the approval process to conclude?
Alien826
No religious beliefs
I think businesses have much greater opportunity to reduce their tax liability then individuals. And international businesses even more.
These 19 Fortune 100 Companies Paid Next to Nothing—or Nothing at All—in Taxes in 2021
Despite record profits in 2021, many corporations are paying barely any taxes
19 profitable Fortune 100 corporations that reported they will owe little or no taxes for 2021Table showing the 2021 federal income tax expenses, pre-tax earnings, and effective corporate income tax rates for 19 companies in the Fortune 100, four of which show a negative tax rate, or zero taxes owed that year.
Table with 4 columns and 19 rows. Currently displaying rows 1 to 19.
| Amazon.com Inc. | $2.1 B | $35.1 B | 6.1% |
|---|---|---|---|
| Exxon Mobil Corp. | $262 M | $9.3 B | 2.8% |
| AT&T Inc. | −$1.2 B | $29.6 B | −4.1% |
| Microsoft Corp. | $3.3 B | $33.7 B | 9.7% |
| JPMorgan Chase & Co. | $2.9 B | $48.2 B | 5.9% |
| Verizon Communications | $1.9 B | $27.2 B | 6.9% |
| Ford Motor Co. | $102 M | $10 B | 1.0% |
| General Motors Co. | $20 M | $9.4 B | 0.2% |
| Chevron Corp. | $174 M | $9.5 B | 1.8% |
| Bank of America Corp. | $1.1 B | $30.6 B | 3.5% |
| United Parcel Service | $1.4 B | $14 B | 9.9% |
| FedEx Corp. | $199 M | $4.7 B | 4.2% |
| MetLife Inc. | $62 M | $4.8 B | 1.3% |
| Charter Communications Inc. | −$12 M | $6 B | −0.2% |
| Merck & Co. Inc. | $74 M | $1.9 B | 4.0% |
| American International Group Inc. | −$216 M | $9.8 B | −2.2% |
| Dow Inc. | −$46 M | $1.5 B | −3.1% |
| Nike Inc. | $328 M | $5.6 B | 5.9% |
| Coca-Cola Co. | $243 M | $3.4 B | 7.1% |
"Blame" is a judgmental word I'd not use.
The reason...
One's money & effort can be leveraged more these days.
And highly valuable technologies are emerging quickly.
Look at how most of the richest got their wealth.
metis
aged ecumenical anthropologist
Seems you are unaware of the controversies surround those two that even many Republicans are questioning.
We Never Know
No Slack
IMO our governments waste many millions on unneeded employees.
Like they say about state workers, two will be working while 6 others stand around and watch. The government is worse.
metis
aged ecumenical anthropologist
So, let's eliminate state workers? And how exactly do you know how many in each are working versus not working?
BTW, so when the supposed "unneeded employees" get paid, where do you think their money goes"?
I worked for our local DPW for two summers while supporting my way through college, and let me just tell you I worked my butt off doing work that probably very few would want to do themselves.