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Absolutely. Iceland went bankrupt and solved the problem (to a large extent). The corporate media doesn't want you to know that, and global financial interests are desperately trying to keep it from happening in Greece, Italy, Spain and Ireland, to name a few, all the while continuing to hedge their bets and profit from the impending global collapse.

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[-] 1 points by JamesS89118 (646) from Las Vegas, NV 13 years ago

Stop taxing people and only tax Wall St and the 147.

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[-] 1 points by newearthorder (295) 13 years ago

Not paying taxes is not necessarily a terrible thing. GE employed over 900 tax attorneys and a lobby firm to get to zero taxes. The tax structure used to encourage businesses to re-invest most of their profits back into their corporations. That is where the great economic expansions of the 40's through the 60S.

Since Reagan was president the tax code and other laws have been changed and amended to skew towards profit taking.

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[-] 0 points by Farleymowat (415) 13 years ago

I'll tell you what is sad. NO corporations pay taxes. Tax liability in any corporation is passed on to the consumer. The little guy, or anyone, rich or poor for that matter, pays corporations taxes when ever a product is purchased. So the price of any GE product would be much higher,( the taxes GE would pay divided into the products sold). So NO corporations should pay ANY taxes, because the consumer pays it for them. We get screwed on both ends of the equation. Either all pay taxes, or none of them pay.

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[-] 1 points by Rico (3027) 13 years ago

You might also note that corporate profits are paid to the shareholders where they're taxed again as capital gains. Furthermore, the majority of corporate stock is held either directly or in mutual funds by the "little guy" in the form of 401k, IRAs, etc.

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[-] 0 points by Farleymowat (415) 13 years ago

That is a fact Rico. Good point.

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[-] 1 points by TheCloser (200) 13 years ago

Of course! When 'financial regulation' comes down the pipe, the banks and investment firms are like "no problem, we'll just add some BS fee to cover the administrative costs!" It's TOTAL corruption.

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[-] 0 points by Farleymowat (415) 13 years ago

You got that right. I'm a janitor (self employed, work 20 hours per week). I clean a credit union and talked to the branch manager and she hasn't even heard of occupy. Go figure! But to your point, profit is not the problem, corruption is!

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[-] 1 points by TheCloser (200) 13 years ago

Right. Corruption is the problem - well put. Another aspect of it is that the politicians behave as though they condone their rubbish, because the banks take their 'ill gotten gains' and seed political careers with it!

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[-] 0 points by gr57 (457) 13 years ago

47% of American's don't pay taxes

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[-] 2 points by TheCloser (200) 13 years ago

Why is that?

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[-] 0 points by gr57 (457) 13 years ago

They don't pay becuase if they had to there would be non-stop bitching about it. If you want/need/ever expect government assistance, you should pay for that service. Plain and simple

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[-] 1 points by jimmycrackerson (940) from Blackfoot, ID 13 years ago

most of the people who want and need govt' assistance are the ones who cannot afford to pay for it. Do you ever see the top 10% requesting handouts for food, clothing and shelter? Why? Because they're not the ones who need the service. How can you expect people to pay for something if they have no money? A lot of us were dealt bad hands from the beginning. Obviously we're going to try to get basic needs taken care of before we worry about playing in the circus of politics.

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[-] 2 points by TheCloser (200) 13 years ago

The top 10% are ALWAYS getting hand-outs. When you're rich, they're called "perks". The Firm pays for the house, the Firm takes you out for lunch, the Firm flys you and the family to a specialty clinic for specialty medical procedures and keeps you in style in the Firm's house.

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[-] 2 points by jimmycrackerson (940) from Blackfoot, ID 13 years ago

true that. I was just saying what's the point of having govt' services for the poor if you're going to try and charge for them and suck the poor dryer than they already are?

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[-] -1 points by gr57 (457) 13 years ago

I say that if they can afford cars, cell phones, internet or cable, they can afford to either not get government assistance, or pay a little in taxes

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[-] 1 points by jimmycrackerson (940) from Blackfoot, ID 13 years ago

So being able to afford the very things that enable Freedom of transportation, communication, and thinking should be punishable with 'fees'?

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[-] 0 points by gr57 (457) 13 years ago

First off, you don't have a freedom of transportation, communication or thinking... (Life, liberty, persuit of happyness). Secondly, when the founding fathers wrote the constitution and the Bill of rights there were no cars, cell phones, internet or cable so if they did those things with out any of them, i really doubt that you "need" them to do any of those things no.

Last time I check, you have legs, a voice, and books (which are paid for with taxes or your private money)

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[-] 1 points by jimmycrackerson (940) from Blackfoot, ID 13 years ago

Right on, thanks for the insight.

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[-] 0 points by JamesS89118 (646) from Las Vegas, NV 13 years ago

lol rotf! Trolls don't answer 'why' questions. Nice try though!

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[-] -1 points by gr57 (457) 13 years ago

Why shouldn't they?

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[-] -1 points by JamesS89118 (646) from Las Vegas, NV 13 years ago

Exactly Troll! Exactly :)

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[-] 1 points by gr57 (457) 13 years ago

I answered him, now I'm asking you "troll"

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[-] 1 points by JamesS89118 (646) from Las Vegas, NV 13 years ago

OK, I'll play.

gr57

47% of American's don't pay taxes

TheCloser

Why is that?

gr57

They don't pay becuase if they had to there would be non-stop bitching about it.

This argument is meaningless without a cite.

If you want/need/ever expect government assistance, you should pay for that service.

This argument is meaningless in the face of logic. DOD, EPA etc.

Plain and simple

this statement is an accurate signature.

Never got any student loans, eh?

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[-] 0 points by gr57 (457) 13 years ago

Oh and my "cite" is the fact that every time durring tax time, people would rather spend money to get out of taxes then actually pay them.

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[-] 0 points by gr57 (457) 13 years ago

what logic is the "DOD, EPA ect."?

And yes I do. I'm in college. What about it?

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[-] 1 points by JamesS89118 (646) from Las Vegas, NV 13 years ago

Wow, get out quick! There is no possible way for you to graduate.

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[-] 0 points by gr57 (457) 13 years ago

Please just explain your comment? How is the DoD and the EPA go against my logic, I believe they are both a service to the population.

What's the proplem with student loans?

and you can read my "cite"

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[-] 0 points by stevemiller (1062) 13 years ago

Globalization slaves took their jobs. An Informed, Reasoned Solution for America’s Economic Disaster

By Steve Miller read more - http://overthecoals.blogspot.com/

        The trade policy begun by President Clinton when he passed the NAFTA treaties started the giant sucking sound predicted by H. Ross Perot during the 1992 election campaign.  America has been sold out by the ruse named globalization.  We Americans are constantly reminded that globalization is a fact of life and that we need to adapt to the competition of slave labor in China and other dictatorships that force their citizens into slavery. 
        The only remedy that can possibly work to reverse our own economic destruction is the formation of a new third party that will represent the 99% of American citizens who aren’t CEO’s and Board members of the multinational companies that have outsourced our jobs to slaves.  There must be class warfare to reverse the class warfare used to create the globalization ruse.  Americans have been completely bamboozled by the media propaganda that peddles globalization.
        “Free Trade” is a slogan for slave trade.  The obvious, simple solution that would fix the economic depression gripping America is to forbid the importation of slave made products from China or any other country.  The effort required to manufacture those products domestically using an American workforce would require a construction boom necessary to build new factories equipped by the most modern machinery that would   hire millions of construction workers.

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[-] 0 points by happybanker (766) 13 years ago

Steve you have admitted that you are a convicted felon who spent 9 years in prison for extortion. Why are you looking for your next prey here?

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[-] 0 points by betuadollar (-313) 13 years ago

The question that remains is this: If all employees derive income and pay taxes on that income, then is there a need to tax a corporation?

In many areas of the world, the corporation pays an equivalent income tax, in the 15% or less bracket.

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[-] 1 points by JamesS89118 (646) from Las Vegas, NV 13 years ago

Why would you tax employees? We want employees, right? And we need the employees to spend their money for the economy, right? So taxing employees is silly. Only tax the corporation.

A hedge fund corporation maintains $1 trillion with 15 employees.

Do you tax 15 x 20%?

Or tax $1,000,000,000,000 x 20%?

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[-] 0 points by betuadollar (-313) 13 years ago

No you tax 15 at 15% and additionally tax the corporation at 15%. All is considered "income." And they either pay those taxes or they cease to do business.

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[-] 1 points by JamesS89118 (646) from Las Vegas, NV 13 years ago

Or tax $1,000,000,000,000 x 20%?

I think tax $1,000,000,000,000 x 20% is more than your 15 x 15% + 15%.

If the purpose of the individual is to shop then why tax the individual. Taxing the individual reduces the individual's purpose.

Taxing the $1,000,000,000,000 only harms the Capitalist and provides the tax revenue to run the DoD, EPA, FDA, NASA ect.

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[-] 0 points by betuadollar (-313) 13 years ago

At 20% the corporation will never pay taxes.

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[-] 1 points by TheCloser (200) 13 years ago

There is a need to cover our debt on our debt-bias tax system. Corporations that grease palms and game the system to avoid taxes are squarely in the middle of an ethical dilemma. And it's good business practice to show more profit to your investors by suppressing that expense.

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