Page 3 of 14 FirstFirst 123456713 ... LastLast
Results 31 to 45 of 204

Thread: "Trump proposes the biggest tax hike in 30 years"

  1. #31 | Top
    Join Date
    Nov 2013
    Location
    Gone to the mattresses
    Posts
    22,458
    Thanks
    1,135
    Thanked 11,622 Times in 8,086 Posts
    Groans
    874
    Groaned 639 Times in 618 Posts

    Default

    Quote Originally Posted by Althea View Post
    You are clearly a moron. Nobody pays taxes on gross revenue. Idiot. Give it up. Corporate income taxes are not the same as tariffs.

    prof·it

    /ˈpräfət/Learn to pronounce




    noun



    • 1.
      a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.





    You merely restated what I claimed. Profit = revenues - expenses. We don't tax profits.

  2. The Following User Says Thank You to canceled.2021.2 For This Post:

    Truth Detector (06-05-2019)

  3. #32 | Top
    Join Date
    Dec 2018
    Posts
    10,826
    Thanks
    5
    Thanked 4,989 Times in 3,362 Posts
    Groans
    0
    Groaned 636 Times in 604 Posts

    Default

    Quote Originally Posted by Teflon Don View Post
    First of all your ignorance is phenomenal. I should get paid for the lesson you are about to receive

    1) businesses don’t pay taxes on profits dumbass. They pay taxes on REVENUE. Profit is revenue minus expenses. Profit and revenue are not the same. We do not tax PROFIT. Fuck you are stupid
    When you make a statement like this, you should really not call others stupid. Corporate Taxable income is gross revenue minus cost of goods sold minus business expenses.
    Here is the IRS form for corporate income taxes proving you are the one that is completely uninformed.
    https://www.irs.gov/pub/irs-pdf/f1120.pdf
    "We are all born ignorant, but one must work hard to remain stupid."

    "Any fool can criticize, condemn and complain - and most fools do."

  4. #33 | Top
    Join Date
    Nov 2013
    Location
    Gone to the mattresses
    Posts
    22,458
    Thanks
    1,135
    Thanked 11,622 Times in 8,086 Posts
    Groans
    874
    Groaned 639 Times in 618 Posts

    Default

    Quote Originally Posted by Poor Richard Saunders View Post
    When you make a statement like this, you should really not call others stupid. Corporate Taxable income is gross revenue minus cost of goods sold minus business expenses.
    Here is the IRS form for corporate income taxes proving you are the one that is completely uninformed.
    https://www.irs.gov/pub/irs-pdf/f1120.pdf
    You are right. I incorrectly conflated revenue with income. My bad.

    However, I am correct in that they do not pay taxes on profits. I notice you left that part out. But, then by showing I am right about that, you would be criticizing a fellow lefty which you are loathe to do.

    Carry on

  5. #34 | Top
    Join Date
    May 2007
    Posts
    62,855
    Thanks
    3,734
    Thanked 20,360 Times in 14,088 Posts
    Groans
    2
    Groaned 649 Times in 616 Posts

    Default

    Corporations pay taxes on profits. LLC’s, sole proprietorships and partnerships don’t. The latter pay as personal income I believe.

  6. #35 | Top
    Join Date
    May 2012
    Posts
    36,465
    Thanks
    16,662
    Thanked 20,734 Times in 14,330 Posts
    Groans
    0
    Groaned 1,387 Times in 1,305 Posts

    Default

    Quote Originally Posted by Teflon Don View Post
    You merely restated what I claimed. Profit = revenues - expenses. We don't tax profits.
    LMAO. What the hell do you think business pays taxes on? Losses?

    And you wanted to charge me to read your nonsense? Here...let me rewrite it for you.

    Revenues-Expenses=Taxable Income (profits)

    Or do you still want to claim that revenues are taxed.

    You're wrong. Tariffs are very different than corporate taxes.
    Once in a while you get shown the light, in the strangest of places if you look at it right.

  7. The Following User Says Thank You to Althea For This Post:

    Phantasmal (06-04-2019)

  8. #36 | Top
    Join Date
    Dec 2018
    Posts
    10,826
    Thanks
    5
    Thanked 4,989 Times in 3,362 Posts
    Groans
    0
    Groaned 636 Times in 604 Posts

    Default

    Quote Originally Posted by Teflon Don View Post
    You are right. I incorrectly conflated revenue with income. My bad.

    However, I am correct in that they do not pay taxes on profits. I notice you left that part out. But, then by showing I am right about that, you would be criticizing a fellow lefty which you are loathe to do.

    Carry on
    I don't see why I should criticize someone for using a term used in standard accounting.
    You should learn how to read profit and loss statements. Profit on the corporation's profit and loss statement is income that was subject to income taxes.
    "We are all born ignorant, but one must work hard to remain stupid."

    "Any fool can criticize, condemn and complain - and most fools do."

  9. The Following User Says Thank You to Poor Richard Saunders For This Post:

    Althea (06-04-2019)

  10. #37 | Top
    Join Date
    May 2012
    Posts
    36,465
    Thanks
    16,662
    Thanked 20,734 Times in 14,330 Posts
    Groans
    0
    Groaned 1,387 Times in 1,305 Posts

    Default

    Quote Originally Posted by Poor Richard Saunders View Post
    I don't see why I should criticize someone for using a term used in standard accounting.
    You should learn how to read profit and loss statements. Profit on the corporation's profit and loss statement is income that was subject to income taxes.
    If he'd like, we can argue the semantics over Gross/Net profit. We can circle around that for a few pages. His point about tariffs/taxes is never going to be accurate.

    And yes...as a small businessperson who has been dealing with accountants for decades, I know a thing or two about what is taxable, and what is simply a cost of doing business. Like a cost incurred by tariff.
    Once in a while you get shown the light, in the strangest of places if you look at it right.

  11. #38 | Top
    Join Date
    Mar 2018
    Location
    USA
    Posts
    34,430
    Thanks
    23,941
    Thanked 19,095 Times in 13,072 Posts
    Groans
    0
    Groaned 5,908 Times in 5,169 Posts
    Blog Entries
    1

    Default

    Hello archives,

    Quote Originally Posted by archives View Post
    If Trump's 5% tariff on Mexican goods takes effect later this month, the president's trade policies would constitute a bigger tax hike than Bill Clinton’s in 1993.

    Tariffs already in place against Mexico will increase revenues by $69 billion, the Tax Foundation estimates — or about 0.32% of GDP. Add in the threatened 5% tax on Mexican imports, and that rises to about 0.40% of GDP.

    If Trump follows through on his threats — 25% on all Chinese and Mexican imports — those revenues would amount to 1.45% of GDP. You’d have to go back to the 1968 tax hike for a bigger revenue measure, per data compiled by the Treasury Department.

    https://www.axios.com/trump-mexico-t...2ded98260.html
    https://www.treasury.gov/resource-ce...-Table2013.pdf

    Which is exactly why Trump will never go ahead with his tweet tax on Mexico, just like his "closing the border" threat awhile ago, it is all a deflection, this time off of the impeachment talk dominating the media agenda.

    Nothing fills the gym rallies quicker than scapegoating immigration, but you got to start wondering, when are the Trumpkins going to start questioning why two and half years in and Trump still hasn't accomplished anything substantial on his number one campaign promise other than rhetoric, blame, accusations, and threats
    Spot on.

    If he kicks off these trade wars nobody wins.

    The economy is the only thing keeping Trump in office.

    If the economy tanks, so does he.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

  12. #39 | Top
    Join Date
    Mar 2018
    Location
    USA
    Posts
    34,430
    Thanks
    23,941
    Thanked 19,095 Times in 13,072 Posts
    Groans
    0
    Groaned 5,908 Times in 5,169 Posts
    Blog Entries
    1

    Default

    Hello Althea,

    Quote Originally Posted by Althea View Post
    Honestly? I think this is all about insider trading. Somewhere, trump is in cahoots with those who play his tweets in the market.
    Interesting.

    That would be illegal.

    An impeachable crime.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

  13. The Following User Says Thank You to PoliTalker For This Post:

    Althea (06-05-2019)

  14. #40 | Top
    Join Date
    Dec 2016
    Posts
    40,213
    Thanks
    14,475
    Thanked 23,679 Times in 16,485 Posts
    Groans
    23
    Groaned 585 Times in 561 Posts
    Blog Entries
    3

    Default

    ^The desperation is appalling.

  15. #41 | Top
    Join Date
    Mar 2018
    Location
    USA
    Posts
    34,430
    Thanks
    23,941
    Thanked 19,095 Times in 13,072 Posts
    Groans
    0
    Groaned 5,908 Times in 5,169 Posts
    Blog Entries
    1

    Default

    Hello ThatOwlWoman,

    Quote Originally Posted by ThatOwlWoman View Post
    Wait. Please unconfuse me. So the tariffs will raise national revenue, which will help pay down our debt kinda sorta maybe someday? That's a very good thing. But who is contributing to this debt-paying-down fund? China? Mexico? U.S. corporations?

    You? Me?

    We could all use some enlightenment here.
    The revenue estimates assume that the volume of trade will continue. That is unlikely.

    They also assume that there will be no repercussions such as tariffs imposed on American goods. That is quite likely.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

  16. The Following User Groans At PoliTalker For This Awful Post:

    Earl (06-05-2019)

  17. #42 | Top
    Join Date
    Nov 2013
    Location
    Gone to the mattresses
    Posts
    22,458
    Thanks
    1,135
    Thanked 11,622 Times in 8,086 Posts
    Groans
    874
    Groaned 639 Times in 618 Posts

    Default

    Quote Originally Posted by Althea View Post
    LMAO. What the hell do you think business pays taxes on? Losses?

    And you wanted to charge me to read your nonsense? Here...let me rewrite it for you.

    Revenues-Expenses=Taxable Income (profits)

    Or do you still want to claim that revenues are taxed.

    You're wrong. Tariffs are very different than corporate taxes.
    Profits are what is leftover AFTER taxes dumbass

  18. The Following User Says Thank You to canceled.2021.2 For This Post:

    Truth Detector (06-05-2019)

  19. #43 | Top
    Join Date
    Mar 2017
    Posts
    12,526
    Thanks
    2
    Thanked 8,341 Times in 5,714 Posts
    Groans
    0
    Groaned 374 Times in 355 Posts

    Default

    Quote Originally Posted by PoliTalker View Post
    Hello archives,



    Spot on.

    If he kicks off these trade wars nobody wins.

    The economy is the only thing keeping Trump in office.

    If the economy tanks, so does he.
    what the hell are you doing in someone elses thread, scram cupcake

    Trump's corporate tax cuts set forth one of the biggest US economy boosts, ever.

    relax morons, let the business man handle the business
    This just In::: Trump indicted for living in liberals heads and not paying RENT

    C̶N̶N̶ SNN.... Shithole News Network

    Trump Is Coming back to a White House Near you

  20. The Following User Says Thank You to Getin the ring For This Post:

    Truth Detector (06-05-2019)

  21. #44 | Top
    Join Date
    May 2012
    Posts
    36,465
    Thanks
    16,662
    Thanked 20,734 Times in 14,330 Posts
    Groans
    0
    Groaned 1,387 Times in 1,305 Posts

    Default

    Quote Originally Posted by Teflon Don View Post
    Profits are what is leftover AFTER taxes dumbass
    Too late. You lose. Tariffs are not the same as corporate taxes. Move on to your next battle, and file this one under 'bad idea'.
    Once in a while you get shown the light, in the strangest of places if you look at it right.

  22. #45 | Top
    Join Date
    Jan 2019
    Posts
    52,291
    Thanks
    77,752
    Thanked 23,568 Times in 17,849 Posts
    Groans
    38,677
    Groaned 3,238 Times in 3,042 Posts
    Blog Entries
    8

    Default

    President Trump’s tariffs on Mexico and China do not a trade war make. Costs to companies and even farmers haven’t caused major economic damage."

    https://www.nbcnews.com/think/opinio...fs-ncna1013646

  23. The Following User Says Thank You to Earl For This Post:

    Truth Detector (06-05-2019)

Similar Threads

  1. Replies: 29
    Last Post: 05-22-2018, 11:43 AM
  2. "Trump is punting on one of his biggest goals for the year"
    By archives in forum Current Events Forum
    Replies: 2
    Last Post: 05-10-2018, 04:44 PM
  3. Replies: 0
    Last Post: 02-14-2018, 05:46 PM
  4. Michael Moore on Trump: "The Biggest Fuck You in Human History"
    By Русский агент in forum General Politics Forum
    Replies: 7
    Last Post: 11-10-2017, 11:52 AM
  5. Obama proposes massive new "civilian national security force"
    By Little-Acorn in forum Current Events Forum
    Replies: 33
    Last Post: 07-08-2008, 01:13 PM

Bookmarks

Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •