First Political Post In A Long Time

[BarryBobPosthole]

This tax reform bill is stupefying. I will admit that I’ve looked at what we’d save and it looks like for my wife and me, we would see a pretty good savings. Not life changing, but a dollar is a dollar.

What bugs me though is the corporate tax cut. The folks behind it claim that companies are chasing lower tax rates in other countries. What I’ve witnessed are two things: 1 - companies aren’t chasing lower taxes, they are chasing lower labor costs. If you look where they are ‘hiding’ their foreign revenues, its in countries where they can hire four people for the cost of one American. Current tax law incentivizes this behavior. My old company, Verizon, hasn’t paid corporate income tax in almost a decade. So what they get won’t go to raising employee salaries but will be used to buy back stock.
And even if it resulted in raises for US workers, it would make offshoring even MORE of a good deal.
2 - cutting revenues in the name of attracting business has been tried in several states and has failed in each and every case. This is extremely fuzzy math.

If this is about the middle class, then lets cut taxes for the middle class. Why do we have to give more money to US companies who are already raking in record profits?

To me, this thing smells.

BKB

[Penguin]

Where the hell have you been Posty? Don't you realize that we can't possibly have a substantive economic recovery until the top 1% and US based corporations stop paying taxes? Jeez, you need to move your desk closer to the blackboard.

Will

[BarryBobPosthole]

Hahaha...I guess the bald faced nature of the liars these days has me a bit taken aback.

BKB

[Chicken Dinner]

At some point, folks will realize that other than talk our POTUS has no intention of doing a damn thing for the working man.

[Penguin]

Have to protect our job cremators.

Will

[johnboy]

I'll never be surprised when our politicians look after the rich before the middle class. After all, they are the rich.

[Chicken Dinner]

Have to protect our job cremators.

Will

Electing a Billionaire who is appointing a bunch of multi-millionaires to “fix” the system that made them all rich. What could possibly go wrong with that plan?


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[Hombre]

I'm in agreement that this plan is weighted towards the rich and not middle class (If we even have one of those anymore). I'm in disagreement that companies don't chase lower taxes. Apple, Microsoft and others are holding huge amounts oversees in places that they don't have large workforces. In fact I thought that Obama had recognized this during his presidency and proposed something to bring this money back.

[BarryBobPosthole]

I didn’t mean for this to be a Trump bashing post. I really wanted to hear some more opinions on this tax reform plan. The way it looks to me, the only permanent reforms are corporations will get a huge permanent tax break. The rest of us get temporary tax break of a very small amount. Last time I checked, our economy and the nation’s private businesses weren’t in need of a boost right now. We keep hearing about record stock markets, record profits, full employment, etc etc and then talk about how much we need to help our corporations and economy along.
Again, it looks like bare faced naked lying to me, but I suppose I could be wrong for the 999,999,999th time in my life.

BKb

[LJ3]

...but I suppose I could be wrong for the 999,999,999th time in my life.

BKb

I'm pretty sure Julie would correct that number.... quickly.

[LJ3]

I agree it certainly sounds like a bunch of horseshit. I know a flat tax gets lots of resistance but it's called a fair tax for a reason. If I get shaken down for 30+% every damn year why can't everyone?

[airbud7]

Yea....tax the heck out of big corporations and they will leave this country!

There will be no middle class then.

[BarryBobPosthole]

And that is the big myth. Actual US companies pay on average about 24% taxes on profits. That’s real close to the rest of the developed world. Saying US corporations pay 35% is another of the bald faced lies.

BKB

[Arty]

I agree with you on this 100%. My opinion Has nothing to do with Trump by the way (since you stated this isn’t a trump rant).
A flat tax, is the only tax, that makes sense. Anything other than that, is just shuffling cards from one hand to another, with no real change.
My blood boils when every year around April. My family is right directly center of ground zero to get screwed just enough so the vast majority of the country can take the money WE paid, and call it a tax REFUND.

[Arty]

I forgot to say this tax plan is basically more of the same. If you cut taxes from corporations/rich they ain’t gonna do a damn thing to help the every day American worker, of which I am one. The CFO’s will just line their pockets and upgrade their golden parachutes.
To think a tax break will make the big companies say “oh let’s bring all this shit back to the US” is crazy. They’d figure a way around it and leave everything right where it sits.

[BarryBobPosthole]

i’m not sure why the flat tax idea hasn’t gotten more traction. It accomplishes the goal of simplifying the tax code and seems to be more fair at least on the surface.

BKB

[LJ3]

I read up a bit on it a few years ago when it was a popular thought. Most of the resistance was from very wealthy segments of our country. No big surprise there.

[BarryBobPosthole]

Five percent of a billion is a good chunk of change compared to what five percent of my income would be.

I also think that veterans with honorable discharges should get five tax free years at the end of theor service. Maybe even ten. Or maybe the number of tax free years equals the years served. We might get some folks besides lower income people in the military, not that there is anything wrong with lower income folks. But it was my experience when
i was in that minorities and lower income (readoor white trash) made up the bulk of personnel. I guess most of the rich folks had bone spurs or something.

BKB

[Arty]

Five percent of a billion is a good chunk of change compared to what five percent of my income would be.

I also think that veterans with honorable discharges should get five tax free years at the end of theor service. Maybe even ten. Or maybe the number of tax free years equals the years served. We might get some folks besides lower income people in the military, not that there is anything wrong with lower income folks. But it was my experience when
i was in that minorities and lower income (readoor white trash) made up the bulk of personnel. I guess most of the rich folks had bone spurs or something.

BKB

Or flat feet, like my dad had (RIP). Although he was not rich by any sense of the word and probably leaned more toward white trash.

The only problem I have with your proposal is the states (at least some) have laws where certain military don’t pay personal property and/or real estate tax. I THINK (haven’t done research on it) that going into the military has a lot of perks. Not sure if more would change the ranks.

[LJ3]

Those "perks" are enough to keep you alive with a roof over your head. That's pretty much it.

[BarryBobPosthole]

I made like $450 a month (not counting separate rats) when I was a young GI. I think I probably never made enough money to pay taxes until I got out. However, the military is having trouble these days filling out their recruitment goals.

I got it! Lets promise them lifetime free medical care! We can always pull that rug out from under them later.

BKB

[Arty]

Mixed reviews on the VA... isn’t that a point of contention with Thump vs eerybody else?

[BarryBobPosthole]

I'm in agreement that this plan is weighted towards the rich and not middle class (If we even have one of those anymore). I'm in disagreement that companies don't chase lower taxes. Apple, Microsoft and others are holding huge amounts oversees in places that they don't have large workforces. In fact I thought that Obama had recognized this during his presidency and proposed something to bring this money back.

just FYI, 25% of Apple’s workforce is in Cork, Ireland.

BKB

[Hombre]

^^ Surely not...some submarine cable land there that's Corks claim to fame ^^ but no way apple has 25% of its workplace in that small of a city.

[Hombre]

Maybe you mean 25% of apples money, though I'd bet it's higher

[BarryBobPosthole]

Sorry, 25% of its European workforce, not worldwide.

BKB

[Chicken Dinner]

Last night's Senate version of the bill has all the individual tax cuts expiring in 2025 and keeps the corporate cuts permanent. That should tell you something.

[BarryBobPosthole]

Yep.

[BarryBobPosthole]

http://es.pn/2mzUg4q
This is an aspect of the tax bill I hadn’t heard of until today.
BKB

[airbud7]

This tax reform bill is stupefying.




BKB

Dude you voting for Obama and Hillary....That's why I don't visit here much anymore!...you deleted my post when you did not like what I said. (Administration power my ass )...that's socialism right there...