tag:blogger.com,1999:blog-6399730406480392183.post5409768838421246194..comments2024-03-27T11:18:34.222-03:00Comments on Viable Opposition: CEO Excess - How to make more money than your company pays in taxesA Political Junkiehttp://www.blogger.com/profile/03342345936277964422noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-6399730406480392183.post-52352588376900182152011-11-30T10:47:56.733-04:002011-11-30T10:47:56.733-04:00Why is the USA the only place on this earth that d...Why is the USA the only place on this earth that does not have a viable political party to represent the public interest? I would have thought and hope that something would be born out of the Occupy movement. The "US" party or variant would fit perfectly. The people on the lower rung of the ladder has no representation in America. The fear of this happening may be why Occupy is being moved by authorities. It is long past overdue. Give them what they fear.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-87922509456311420762011-10-14T12:36:04.906-03:002011-10-14T12:36:04.906-03:00Obama is a very clever man . he says one thing but...Obama is a very clever man . he says one thing but all his actions prove to be the opposite.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-48223851373020423332011-10-14T12:32:29.597-03:002011-10-14T12:32:29.597-03:00This is same story in the whole world . making foo...This is same story in the whole world . making fool of people in the name democracy. right now democracy is for the rich and famous only. law protecs them and allows them to continue to abuse the coomon workers. all the corporations only have to give rich donations to the politicians and they are set for generations to stay rich . none of their children and further generarions ever have to workAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-71860066926201637222011-10-05T23:50:01.428-03:002011-10-05T23:50:01.428-03:00Did you notice on the Citizens for Tax Justice stu...Did you notice on the Citizens for Tax Justice study that the corporations are paying less taxes each year that President Obama is in office?<br /><br />The Obama administration is not going after these companies. I guess since many of them are donors, they expect kickbacks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-70565136164868589332011-09-20T09:45:52.535-03:002011-09-20T09:45:52.535-03:00I'm curious why there has never been an Altern...I'm curious why there has never been an Alternative Minimum Tax on corporate taxes. This would help stem the tide of abuse among the corporate giants as they try to deduct everything. However, I'm not familiar enough with corporate taxes to know whether or not this is feasible and what the effect would be. Any thoughts?<br /><br />MarkAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-55003782469698428092011-09-19T17:01:07.764-03:002011-09-19T17:01:07.764-03:00WB. My post was regarding the corporate taxation i...WB. My post was regarding the corporate taxation issue and not on the executive compensation issue.<br /><br />It just depends how you see business taxation in theory. Can you really tax a business? Fact is that every single business tax is always passed on to individuals; either to the employees; consumers; or shareholders.<br /><br />WB. If companies did not really feel "over-taxed" compared to other jurisdictions; then would there not be any real incentive to attempt expensive tax avoidance strategies?<br /><br />Andrew. I understand that another significant difference between "HST vs GST+PST" was that HST and GST are a value-added-tax where the PST is a retail sales tax. This makes the VAT alot more business friendly to account for in comparison to the retail sales tax method (along with the exemptions you've mentioned).<br /><br />JRAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-88008412006693562272011-09-19T15:20:27.639-03:002011-09-19T15:20:27.639-03:00A very interesting post. The consumption tax idea ...A very interesting post. The consumption tax idea is something we have had in Canada since 1989 (GST - goods and services tax).<br /><br />The rationale then was that the government would eliminate the manufacturer's tax of 13.5% (which is what wholesaler's would pay when buying goods from indigenous manufacturer's) and thus lower the cost of goods by the additional 6.5% over the GST's rate of 7% once introduced. They also figured that it would encourage investment by manufacturer's here in Canada.<br /><br />However, the tax burden shifted from manufacturer's to the individual consumer. Several years after the GST was introduced it was shown that manufacturer's had not reduced the cost of their goods once the manufacturer's tax was eliminated (and the GST had been brought in). They simply increased their prices to the tune of the 13.5% and pocketed the money.<br /><br />The result: overall federal government revenue went up but the cost of goods did not go down. Thus the individual consumer took the hit. This is one of the reasons Canada has faired better than the United States during this recession, however, consumer spending remains weak due to the increased tax burden on the consumer. And we have a 16.5% corporate tax rate.<br /><br />Now our federal consumption tax has been merged with provincial sales tax to create a super consumptiont tax (HST - 13%). Although this streamlines tax collection to one entity (the feds who simply transfer to the provinces their share). But there are now taxes applicable to some goods and services that were previously exempt from either the federal tax or provincial one prior to the merger. So nothing escapes consumptions taxes now (i.e. closed loop hole).<br /><br />So... in the end the burden has shifted once again to the individual.Andrew Neilhttps://www.blogger.com/profile/01884475955485798024noreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-9440013376903150722011-09-19T14:43:11.450-03:002011-09-19T14:43:11.450-03:00JR. Companies right now are not penalized by a tax...JR. Companies right now are not penalized by a tax burden. Did you not read the information or do not believe the info? That's your prerogative, but the fact remains that today's corps pay the lowest in history, giving their CEO's, and CFO's and such all bonus' that out weight even the corps tax burden. And then they pare the job market - keep it lean - that way they only need to pay the least for employees while demanding the most. WBAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6399730406480392183.post-33529060647882268802011-09-19T10:44:09.418-03:002011-09-19T10:44:09.418-03:00PJ:
In theory, should you income tax(penalize) a ...PJ:<br /><br />In theory, should you income tax(penalize) a corporation that comes to your country; begins operation of a manufacturing plant; and exports all products produced?<br />I would say No! Just having another firm employing individuals and purchasing resources is justified in itself.<br /><br />This is why I believe a consumption tax (preferably VAT) is a better solution in comparison to the income tax system:<br />1. A consumption tax would not penalize a pure exporting corporation. <br />2. A consumption tax would encourage savings over consumption.<br />3. A consumption tax would fairly tax the 10K square foot house CEO with a yatch and a jet.<br /><br />This was another fantastic article PJ; I really think you should give the "fair-tax" a second look!<br /><br />Thanks<br />JRAnonymousnoreply@blogger.com