Georgia Firearm Forums - Georgia Packing banner

1 - 13 of 13 Posts

·
Registered
Joined
·
1,755 Posts
Discussion Starter · #1 ·
I don't understand this administration! We have two years of endless demonizing of the free markets and a systematic implementation of centralized economic control. Then, out of nowhere we get this:

http://www.ft.com/cms/s/0/1dd55786-1f6a-11e0-87ca-00144feab49a.html#ixzz1BDxomcos

The Obama administration will take its first step on Friday towards a possible overhaul of the US corporate tax system, as senior Treasury officials meet top business executives to discuss lowering rates and removing tax breaks.

Tim Geithner, US Treasury secretary, will lead talks with a group of 18 chief financial officers â€" from ExxonMobil and Microsoft to Coca-Cola and Walt Disney â€" in the latest sign of gathering momentum behind corporate tax reform.
Is it just going through the motions to change the public appearance of the administration going into the 2012 elections? Get something started now and run on it in 2012 with the intent of dropping all plans once elected? Or perhaps he sees the current climate in congress and wants to put his ideas on the table? Or perhaps he just wants to keep the uncertainty going? Who the heck knows with this bunch!
 

·
Registered
Joined
·
1,738 Posts
It's all B.S. and he doesn't mean any of it . . . he's trying to appease the U.S. Chamber of Commerce, which has relentlessly pounded him on Obamacare, carbon emissions taxes, unelected 'czars' not subject to congressional oversight, and an agenda of socialism by regulation through executive branch departments.

The U.S. C. of C. has become a hardened, determined, and successful opponent of Obama, and was instrumental in the turnover of the House of Representatives and a net gain of six Republican seats in the U.S. Senate. Obama still hates capitalism and business; he's the same guy now he has been for the past two years - he's just trying to get them off his @$$ before the 2012 election cycle. I doubt they'll fall for it.
 

·
I'm kind of a big deal
Joined
·
5,243 Posts
When this administration talks about overhauling anything I get nervous. By overhaul maybe they mean that we need to further punish achievement and make our corporations even less competitive in the market place. :?
 

·
Registered
Joined
·
9,458 Posts
Maybe they are going to focus on those pesky Turbo Tax issues. :wink:

My guess is it's another head fake or more misdirection heading into 2012. Seems a little early though, so maybe they are trying to find something to keep the market rally going. It's gone up on less.
 

·
Registered
Joined
·
1,755 Posts
Discussion Starter · #5 ·
BSCLibertarian said:
When this administration talks about overhauling anything I get nervous. By overhaul maybe they mean that we need to further punish achievement and make our corporations even less competitive in the market place. :?
Agreed. I don't know how I feel about the idea of "simplifying" the code by removing all deductions. Could be good (less compliance cost) or bad. The bad could be real bad, as in no deductions and a constant planned escalation of rates. Just imagine your current tax bill with no deductions!
 

·
Registered
Joined
·
9,458 Posts
AEKDB said:
BSCLibertarian said:
When this administration talks about overhauling anything I get nervous. By overhaul maybe they mean that we need to further punish achievement and make our corporations even less competitive in the market place. :?
Agreed. I don't know how I feel about the idea of "simplifying" the code by removing all deductions. Could be good (less compliance cost) or bad. The bad could be real bad, as in no deductions and a constant planned escalation of rates. Just imagine your current tax bill with no deductions!
The Deficit Commission has recommended removing the mortgage deduction, but that will kill housing. The corner that we've all been painted into is getting smaller.
 

·
Registered
Joined
·
1,755 Posts
Discussion Starter · #7 ·
Taurus92 said:
The Deficit Commission has recommended removing the mortgage deduction, but that will kill housing. The corner that we've all been painted into is getting smaller.
I was thinking the same thing. Say they eliminate all deductions. Now they have raised taxes on a lot of people. Can't do that so we lower/eliminate the tax rates on even more people. Now we don't generate enough revenue. So we raise the rates on the "wealthy" but there is not enough there. We then start raising the rates for everyone. Meanwhile we keep hiring a larger % of the population to work for government and keep paying more in social benefits, public employee pensions, etc,...

Playing the game all the way through ends in Communism.

Cue the music! http://www.metacafe.com/watch/592778/ussr_national_anthem/
 

·
Junior Butt Warmer
Joined
·
46,427 Posts
Maybe it's another "bail out" thing without having to actually print more worthless currency?

"...we gave you some tax breaks, which means you get to keep some of the tax money you would otherwise have had to give to us... in other words, we invested that tax money into your company... so now that we've invested in your company it means we have a controlling interest in your company..."

(Or maybe something finally got through and some folks are realizing that they can't milk a cash cow by draining its blood?)
 

·
I'm kind of a big deal
Joined
·
5,243 Posts
If they are going to eliminate parts then get rid of the whole thing. I like the FairTax.

Flame away - I know people either love it or hate it. People who hate it are wrong though so I don't talk to them :hide: (sarc)

I know the arguments......look, no tax is perfect....but there has to be a better, simpler system. Our rulers don't want it to be simple because taxation in this country is not simply about revenue it is also about rewarding or punishing behavior.....
 

·
Seasteading Aficionado
Joined
·
44,896 Posts
AEKDB said:
I don't understand this administration! We have two years of endless demonizing of the free markets and a systematic implementation of centralized economic control. Then, out of nowhere we get this:

http://www.ft.com/cms/s/0/1dd55786-1f6a-11e0-87ca-00144feab49a.html#ixzz1BDxomcos

The Obama administration will take its first step on Friday towards a possible overhaul of the US corporate tax system, as senior Treasury officials meet top business executives to discuss lowering rates and removing tax breaks.

Tim Geithner, US Treasury secretary, will lead talks with a group of 18 chief financial officers â€" from ExxonMobil and Microsoft to Coca-Cola and Walt Disney â€" in the latest sign of gathering momentum behind corporate tax reform.
Is it just going through the motions to change the public appearance of the administration going into the 2012 elections? Get something started now and run on it in 2012 with the intent of dropping all plans once elected? Or perhaps he sees the current climate in congress and wants to put his ideas on the table? Or perhaps he just wants to keep the uncertainty going? Who the heck knows with this bunch!
I think your questions are certainly valid and no doubt one of them could be correct. My initial thoughts after reading this is this is nothing more than pandering for Obamas re-election, and all of this is complete BS. Also, doing away with many deductions would just screw those evil job-creating rich people! Is that really what we want in this country? Take from the hardworking, evil, job-creating rich people and give it to the lazy, section 8 housing, on welfare and food stamps for life Obama Big mama government voters? No thank you.

When anyone out of this admin starts talking about overhauling anything you can be sure the roots are in Marxism and Socialism. When you hear "overhaul," think bend over and take it with no lube.
 

·
Registered
Joined
·
934 Posts
EJR914 said:
AEKDB said:
I don't understand this administration! We have two years of endless demonizing of the free markets and a systematic implementation of centralized economic control. Then, out of nowhere we get this:

http://www.ft.com/cms/s/0/1dd55786-1f6a-11e0-87ca-00144feab49a.html#ixzz1BDxomcos

The Obama administration will take its first step on Friday towards a possible overhaul of the US corporate tax system, as senior Treasury officials meet top business executives to discuss lowering rates and removing tax breaks.

Tim Geithner, US Treasury secretary, will lead talks with a group of 18 chief financial officers â€" from ExxonMobil and Microsoft to Coca-Cola and Walt Disney â€" in the latest sign of gathering momentum behind corporate tax reform.
Is it just going through the motions to change the public appearance of the administration going into the 2012 elections? Get something started now and run on it in 2012 with the intent of dropping all plans once elected? Or perhaps he sees the current climate in congress and wants to put his ideas on the table? Or perhaps he just wants to keep the uncertainty going? Who the heck knows with this bunch!
I think your questions are certainly valid and no doubt one of them could be correct. My initial thoughts after reading this is this is nothing more than pandering for Obamas re-election, and all of this is complete BS. Also, doing away with many deductions would just screw those evil job-creating rich people! Is that really what we want in this country? Take from the hardworking, evil, job-creating rich people and give it to the lazy, section 8 housing, on welfare and food stamps for life Obama Big mama government voters? No thank you.

When anyone out of this admin starts talking about overhauling anything you can be sure the roots are in Marxism and Socialism. When you hear "overhaul," think bend over and take it with no lube.
Exactly! "Overhaul" means to squeeze even more out of the producers.
 

·
Registered
Joined
·
563 Posts
BSCLibertarian said:
If they are going to eliminate parts then get rid of the whole thing. I like the FairTax.

Flame away - I know people either love it or hate it. People who hate it are wrong though so I don't talk to them :hide: (sarc)

I know the arguments......look, no tax is perfect....but there has to be a better, simpler system. Our rulers don't want it to be simple because taxation in this country is not simply about revenue it is also about rewarding or punishing behavior.....
:cheers:

I like your way of thinking!
 

·
Romans 10:13
Joined
·
4,625 Posts
Of course it's for show. Geithner has been on the phone with the customer service folks of TurboTax for the last two years still trying to figure out how they screwed up his taxes.
 
1 - 13 of 13 Posts
Top