What should we do about income inequality?
- Thread starter signalmankenneth
- Start date
Taft2016
Verified User
As the thread title demonstrates, the libradoodles have no idea of what they're blathering about and use "income" and "wealth" interchangeably.
Warren Buffet, for instance, does not have income like most of us have income. He has wealth that generates capital gains.
Most of us collect salaries.
Then they put up cute cartoons about the "evil corporations."
Corporations are not allowed to keep their profits beyond the end of the year.
If you finish the year with an extra $10,000 or so, you can put it in the bank for a rainy day. You'll pay tax on the interest, but never on the principle $10k again. Corporations, however, will pay an accrued earning tax on that $10K if they keep into the next year. So they have to try to finish the year with zero profits.
How? Tax deductions, like paying employees. How? Well one way is to give a huge tax deductible bonus to a CEO, who in turn does something like lend the money back to the corporation. The corporation then gets its money back, but instead of being in the "profit" column, it's now in the "debt" column, to write off against future profits.
Want to avoid this? Get rid of the idiotic accrued earnings tax. But noooooo, that's what Obama refers to as "tax breaks for wealthy corporations."
But enough trying to educate the economically illiterate 47%.
Warren Buffet, for instance, does not have income like most of us have income. He has wealth that generates capital gains.
Most of us collect salaries.
Then they put up cute cartoons about the "evil corporations."
Corporations are not allowed to keep their profits beyond the end of the year.
If you finish the year with an extra $10,000 or so, you can put it in the bank for a rainy day. You'll pay tax on the interest, but never on the principle $10k again. Corporations, however, will pay an accrued earning tax on that $10K if they keep into the next year. So they have to try to finish the year with zero profits.
How? Tax deductions, like paying employees. How? Well one way is to give a huge tax deductible bonus to a CEO, who in turn does something like lend the money back to the corporation. The corporation then gets its money back, but instead of being in the "profit" column, it's now in the "debt" column, to write off against future profits.
Want to avoid this? Get rid of the idiotic accrued earnings tax. But noooooo, that's what Obama refers to as "tax breaks for wealthy corporations."
But enough trying to educate the economically illiterate 47%.
Your retarded
