Commentary: Biden’s Fumble on Corporate Taxes Would Leave Retirees in the Cold
During his State of the Union address, President Joe Biden showed that when it comes to taxes, he is playing a “game of yards,” because companies, in his view, simply make too much money.
In his “Finish the Job” speech, Biden ran right up the middle of the field of investments set aside by workers who for decades thought they had made wise decisions on their own retirement plans.
FJB. But, in all fairness to Biden, a tax increase MUST originate in Congress and pass a vote by both houses. Now that Republicans are in the majority in the House, such increase is unlikely.
That is reason #1 why I never bought into the Roth bull shit. Give the government 25 percent of what I have now to have no tax liability then. So far my 401k has retracted 4ok in the last batch of crap the WEF had pulled on the stock market. I won't have anything left soon for them to tax.
No real reason to reduce taxes on something they are going to take away anyway.
All politicians are addicted to tax and spend. The GOP is no more "conservative" than the commie left. They want all our money and the will do whatever it takes to get it. The criminals in power are looting the country while simultaneously destroying it.
When will people realize that ANY tax on a corporation is actually a tax on citizens? Corporations never pay a single cent of taxes. All taxes levied on a corporation will automatically be passed down to the consumer, who will pay the full share of the tax load. Ford motor company gets a corporate tax increase? The price of a new F-150 just went up by what ever the cost of the tax is, plus of course, a service fee, just for the hell of it. Apple inc. gets a tax increase of some type? That new iPhone 99 is not priced at 2250$ instead of 2150$. Consumers pay 100% of all taxes in America, no matter how they want to play it. Thus the 87,000 IRS agents won't be going after any billionaires, they will be going after those with that 600$ that is now reported to the government but that the consumer chooses not to report. No more lawn business on the side, that makes you 2,000$ each summer to pay for a small vacation to Vegas every fall for a week. Not without paying taxes on that small business. I have to believe that the American people are smart enough to figure all of this out, and the feds just think that we are stupid. But perhaps most Americans are stupid, or just don't care. Other than those who come here to Wirecutters, of course.
Don't forget going after those tax-dodging billionaire waitstaff and their unreported tip income. That just means we'll figure another way around those taxes, just to give the bird to the IRS.
the great unwashed as my friend like to call the mass of people that live here in this country are fucking stupid ! remember when there was 1/3 pound burger ? it didn't sell. people thought the quarter pounder was bigger (???) as too, there is proof beyond doubt after the whole Covid mask bullshit. some people wear a worthless mask alone in their own car ? the IRA plan is a good deal, if you handle it right. most people do not. and as far as the critter of congress go, they write damn near everything off. so who cares if something costs them a hundred or more, they going to get it back anyway. and never forget that social security was a stand alone fund. fat with money the demorats wanted to get their hands on. and they did just that in 1968 I think it was. LBJ signed it. all of the funds where rolled into the general fund. and boy did they spend it. I think Teddie the rapist was a big fan. I wish my parents where still around and they used to bitch about the rape of SSI. right now is what they call late stage empire. that is where the clowns in charge loot the place for anything they can get away with. I think we are going to do a rerun of the old French way of cleaning house if we want any change.
"I think we are going to do a rerun of the old French way of cleaning house if we want any change." The difference being rope and streetlamps rather than guillotine.
FJB. But, in all fairness to Biden, a tax increase MUST originate in Congress and pass a vote by both houses. Now that Republicans are in the majority in the House, such increase is unlikely.
ReplyDeletePlugs Biden hasn't let that little "congress" detail stop him on other things. After all he possesses the magic executive order wand.
DeleteThat is reason #1 why I never bought into the Roth bull shit. Give the government 25 percent of what I have now to have no tax liability then. So far my 401k has retracted 4ok in the last batch of crap the WEF had pulled on the stock market. I won't have anything left soon for them to tax.
ReplyDeleteNo real reason to reduce taxes on something they are going to take away anyway.
All politicians are addicted to tax and spend. The GOP is no more "conservative" than the commie left. They want all our money and the will do whatever it takes to get it. The criminals in power are looting the country while simultaneously destroying it.
ReplyDeleteThe GOP died soon after Reagan lefted office
DeleteWhen will people realize that ANY tax on a corporation is actually a tax on citizens? Corporations never pay a single cent of taxes. All taxes levied on a corporation will automatically be passed down to the consumer, who will pay the full share of the tax load.
ReplyDeleteFord motor company gets a corporate tax increase? The price of a new F-150 just went up by what ever the cost of the tax is, plus of course, a service fee, just for the hell of it.
Apple inc. gets a tax increase of some type? That new iPhone 99 is not priced at 2250$ instead of 2150$.
Consumers pay 100% of all taxes in America, no matter how they want to play it. Thus the 87,000 IRS agents won't be going after any billionaires, they will be going after those with that 600$ that is now reported to the government but that the consumer chooses not to report. No more lawn business on the side, that makes you 2,000$ each summer to pay for a small vacation to Vegas every fall for a week. Not without paying taxes on that small business.
I have to believe that the American people are smart enough to figure all of this out, and the feds just think that we are stupid. But perhaps most Americans are stupid, or just don't care. Other than those who come here to Wirecutters, of course.
Don't forget going after those tax-dodging billionaire waitstaff and their unreported tip income.
DeleteThat just means we'll figure another way around those taxes, just to give the bird to the IRS.
the great unwashed as my friend like to call the mass of people that live here in this country
ReplyDeleteare fucking stupid ! remember when there was 1/3 pound burger ? it didn't sell. people thought the quarter pounder was bigger (???)
as too, there is proof beyond doubt after the whole Covid mask bullshit. some people wear a worthless mask alone in their own car ?
the IRA plan is a good deal, if you handle it right. most people do not.
and as far as the critter of congress go, they write damn near everything off. so who cares if something costs them a hundred or more, they going to get it back anyway.
and never forget that social security was a stand alone fund. fat with money the demorats
wanted to get their hands on. and they did just that in 1968 I think it was. LBJ signed it.
all of the funds where rolled into the general fund. and boy did they spend it.
I think Teddie the rapist was a big fan. I wish my parents where still around and they used to bitch about the rape of SSI.
right now is what they call late stage empire. that is where the clowns in charge loot the place for anything they can get away with.
I think we are going to do a rerun of the old French way of cleaning house if we want any change.
"I think we are going to do a rerun of the old French way of cleaning house if we want any change."
DeleteThe difference being rope and streetlamps rather than guillotine.