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Biden $2 trillion infrastructure jobs plan funded by corporate tax hike

Yes_Minister said:
Then why are you defending big elites like Bezos? You guys talk elites in a negative way all the time and then you give Bezos a pass.



Epstein getting a slap on the wrist for child trafficking in 2008 is a fact, not a rumor.
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Defending? Not really, just stating facts and pointing liberal hogwash.
 
Yes_Minister said:
So Amazon actually pay something in taxes in the future? That's my argument.
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Here’s a quick math lesson. What anyone pays in taxes is the product of taxable income X tax rate. Since the only way to pay zero taxes is to have a taxable income of ZERO raising tax rates will still have them paying zero.
 
nvflash said:
President Biden knows he's just robbing Peter to pay Paul, he just doesn't care.

We have to be competitive in the global economy with other nations corporate tax rates, or our corporations will just uproot and move, and last time I checked 28% of nothing is still nothing.

Sure lots of corporations will still have US subsidiaries, and they will pay whatever their effective tax rate is, because the US is a wealthy market for their goods and services, but it will be us, their customers, they pass the costs of their effective tax rate on to.

If Biden were honest, he'd be pushing for a national sales tax or a VAT, at least that way he would not be hiding the fact that his increases is an effective tax on everyone, and cooperations would not be incentivized to move out of the US, harming our economy.

Look, there is nothing wrong with a national sales tax or a VAT to pay for infrastructure spending, because we all pay our part, and we all get use of the public works.

Just be honest with the American people about who is going to pay for it.
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You mean how Republicans were honest that their tax cuts would pay for themselves?

Corporate America has to help foot the bill here. We can't pass the entire cost of this onto middle America like we always do. If they can't handle 25% or 28%, they shouldn't be in business.

We had a tax rate at 35% for decades and all these corporations didn't uproot and leave. Free market fundamentalist have been forecasting an exodus like that for years, and it doesn't happen. Why? Because no other group consumes like America does, and there is no safer place to plant your flag than here.
 
Bullseye said:
Here’s a quick math lesson. What anyone pays in taxes is the product of taxable income X tax rate. Since the only way to pay zero taxes is to have a taxable income of ZERO raising tax rates will still have them paying zero.
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Okay, math master, how much does Amazon pay now in taxes? Because it seems like very little is the answer according to my article.
 
Yes_Minister said:
Okay, math master, how much does Amazon pay now in taxes? Because it seems like very little is the answer according to my article.
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Don’t give a poop
 
Bullseye said:
Don’t give a poop
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Hey professor, maybe you should provide your own numbers before you criticize my numbers, did you even read that article about Amazon paying hardly anything in taxes, or did you not bother and decide to try to argue with bravado, rather than facts? If you don't give a poop, how do you know Amazon was overtaxed and if you don't give a poop about that, what are arguing for? Are you just being contrarian, or do you have a point?
 
Lord Zerg said:
Trump proposed a 2 trillion dollar infrastructure bill in 2016 and in 2020. At least Biden wants to try to pay for a little of it rather than piling it all on the national debt.
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If Trump actually proposed that why did “It’s infrastructure week!” become a running gag line?

What you are referring to wasn't a proposal at all. What team Trump did was sketch in November 2016. I wasn't a plan in any sense of the word. Those that looked at this sketch of an infrastructure proposal was struck by their almost pathological unwillingness to just do the obvious thing and, you know, build infrastructure. Instead they suggested a complicated scheme that would offer huge tax credits to private investors who would then be rewarded with user fees: build a highway, mainly with taxpayer dollars, then collect all the tolls for yourself.

As writers noted at the time, this scheme wouldn’t work at all for infrastructure spending that can’t be monetized, like repairing levees or cleaning up hazardous waste. And even where it might have been possible to collect user fees, the scheme would offer huge potential for abuse and cronyism (although that might have been a end purpose to those proposing it).

It’s not surprising, then, that infrastructure never happened. But why the Rube Goldberg nature of the proposal, such as it was? Why not just build infrastructure?

The answer, I think, comes down to a blend of ideology and cynical politics.
Today’s G.O.P. is the party Ronald Reagan built, a party that always sees government as the problem, not the solution; people who’ve spent decades steeped in that mind-set just can’t wrap their minds around the idea of using government spending, not tax cuts, to solve a problem. For a time, people in Trump’s inner circle, like Steve Bannon, seemed ready to break out of this box. But they couldn’t free their minds — and even if they could have, people like Mitch McConnell would have stood in their way.

Biden's plan is full of detail sheer contrast to the incompetence of the Trump administration, in which almost nobody had any idea how to do policy substance. It tackles the crumbling infrastructure and puts investments that we need in the future, while providing a funding structure.
 
calamity said:
This sounds like a good idea. I'm sure the anti-taxers will disagree. But, let's face it. 28% is more than fair.



www.usatoday.com

'We can't delay': Biden proposes $2 trillion infrastructure, jobs plan funded by corporate tax hike

The White House is comparing President Joe Biden's infrastructure proposal to the construction of interstate highways and the Space Race.
www.usatoday.com
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It sounds like you believing a lie. Those tax hikes will not pay for this spending. They will be leveraged for still more spending beyond this "infrastructure" bill.
 
NatMorton said:
It sounds like you believing a lie. Those tax hikes will not pay for this spending. They will be leveraged for still more spending beyond this "infrastructure" bill.
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www.nytimes.com

Biden Wants to Pay for Infrastructure Plan With 15 Years of Corporate Taxes (Published 2021)

The president will propose using the revenue from increasing corporate taxes to pay for eight years of ambitious spending on roads, bridges, utilities and other needs.
www.nytimes.com www.nytimes.com

March 30, 2021
WASHINGTON — President Biden intends to pay for the $2 trillion package of infrastructure spending he will propose on Wednesday with a substantial increase in corporate taxes, people briefed on the plan said Tuesday.
The scale of the infrastructure program — one of the most ambitious attempts in generations to shore up the nation’s aging roads, bridges, rail lines and utilities — is so big that it will require 15 years of higher taxes on corporations to pay for eight years of spending, they said.
 
MTAtech said:
www.nytimes.com

Biden Wants to Pay for Infrastructure Plan With 15 Years of Corporate Taxes (Published 2021)

The president will propose using the revenue from increasing corporate taxes to pay for eight years of ambitious spending on roads, bridges, utilities and other needs.
www.nytimes.com www.nytimes.com

March 30, 2021
WASHINGTON — President Biden intends to pay for the $2 trillion package of infrastructure spending he will propose on Wednesday with a substantial increase in corporate taxes, people briefed on the plan said Tuesday.
The scale of the infrastructure program — one of the most ambitious attempts in generations to shore up the nation’s aging roads, bridges, rail lines and utilities — is so big that it will require 15 years of higher taxes on corporations to pay for eight years of spending, they said.
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Yep, that would be the lie.
 
MovingPictures said:
You mean how Republicans were honest that their tax cuts would pay for themselves?

Corporate America has to help foot the bill here. We can't pass the entire cost of this onto middle America like we always do. If they can't handle 25% or 28%, they shouldn't be in business.

We had a tax rate at 35% for decades and all these corporations didn't uproot and leave. Free market fundamentalist have been forecasting an exodus like that for years, and it doesn't happen. Why? Because no other group consumes like America does, and there is no safer place to plant your flag than here.
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You can have a tax rate of 90% it doesn't matter if the tax laws are not changed and some of the deductions large Corps. can deduct are either reduced , put a limit on the amount they can deduct or taken away all together.
Tax rates are the percentage you pay on " Profits " if you can deduct this and that you can reduce your taxable profits to nothing and even lower.
Corps can take these losses ( Carryover ) for a number of years reducing their Taxable profits for years.
we should keep the tax rate where it is ( no need in changing it if the large corps can reduce their taxable profits low enough that they don't pay any thing any ways ) and put a MIN. income tax on large corps making millions / Billions and not paying a cent in income tax
Have a nice evening
 
KLATTU said:
s and you tell us the rw tax policy that crashed the economy?

(this should be good)
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It depends on what you consider the economy, after the TCJA 2017 revenues actually fell in 2018 when adjusted for inflation. Also tax policy and deregulation of the
in the 70s and 80s sent so many jobs oversees that it destroyed a lot of main streets while wall street thrived. So again, what is you barometer?
 
Tbird19482 said:
You can have a tax rate of 90% it doesn't matter if the tax laws are not changed and some of the deductions large Corps. can deduct are either reduced , put a limit on the amount they can deduct or taken away all together.
Tax rates are the percentage you pay on " Profits " if you can deduct this and that you can reduce your taxable profits to nothing and even lower.
Corps can take these losses ( Carryover ) for a number of years reducing their Taxable profits for years.
we should keep the tax rate where it is ( no need in changing it if the large corps can reduce their taxable profits low enough that they don't pay any thing any ways ) and put a MIN. income tax on large corps making millions / Billions and not paying a cent in income tax
Have a nice evening
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Absolutely right, which is why we need to to rewrite it all. Tax policy and regulations.
 
Bullseye said:
Here’s a quick math lesson. What anyone pays in taxes is the product of taxable income X tax rate. Since the only way to pay zero taxes is to have a taxable income of ZERO raising tax rates will still have them paying zero.
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Capital gains of up to $80,000 have a tax rate of 0%. And there are loophole deductions and other things also.
 
Bullseye said:
Are you talking currently or after Biden?
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Currently, 2020-2021 tax code. They shouldn't be. After Biden we'll see but he's not going to get a whole lot done with the fillibuster in place. it was a great speech but it was just that, a speech. This country doesn't really move much anymore.... Congress. Out of everything proposed a win would be considered getting one done.
 
Concern4theFuture said:
Currently, 2020-2021 tax code. They shouldn't be. After Biden we'll see but he's not going to get a whole lot done with the fillibuster in place. it was a great speech but it was just that, a speech. This country doesn't really move much anymore.... Congress. Out of everything proposed a win would be considered getting one done.
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HangLow said:
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Is there a point here? Who gives a poop what taxes were decades ago. Nice trick citing Trump early in his term.
 
Bullseye said:
Is there a point here? Who gives a poop what taxes were decades ago. Nice trick citing Trump early in his term.
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The year is 2021 and I was answering a question you asked. The CURRENT tax rate for capital gains up $80,000 is 0%. I thought this was a discussion but ok.
 
Concern4theFuture said:
The year is 2021 and I was answering a question you asked. The CURRENT tax rate for capital gains up $80,000 is 0%. I thought this was a discussion but ok.
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So, if the year is 2021 why do you post a graphic going back to Eisenhower?
I can seem to find that $80k exemption. Have a reference?
 
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