YES. But the income tax is blatantly unconstitutional on multiple levels.....including but not limited to the questionable way the 16th ( as well as the 17th) Amendments were so called "ratified", the LATE NIGHT "vote" on Christmas eve and the Article I sec 9 proscrition AGAINST a capitation tax ( ie on Labor).
While your comments are on target and lucid, Roger, it would be encouraging to see some specific targets for revision. Are you aware of any analysts who have created a list of the "loopholes" that you would like to see closed or modified?
Financial disclosures can only partially answer questions about corporate accountability. ITEP identifies depreciation deductions, research credits, research expensing, and other provisions as contributors to the reported outcomes. Confidential tax returns prevent a complete reconstruction of each company’s liability. A zero federal income tax figure itself does not establish misconduct. But pair that with billion-dollar pre-tax incomes, and you've far exceeded the threshold of unfair.
Excellent statement about the tax inequities. You understand this difficult situation very well. I just wish our politicians cared about these economic realities and difficulties that decent hard working Americans face everyday like you do!
The only way that corporations avoiding taxation is unfair is that others are not able to do the same. Income should never be taxed. It's an assumption by government of what the starting value of a product, service or person is worth. Where did government get that power?
We're about 98% there RE: the 1975 version of Rollerball. Except the "companies" are on AI/digital steroids. In that movie, when Jonathan INSISTED he be _"allowed"_ on the internet that held the Truth, well, you know what happens....
There is a difference between book and tax income for these corporastions. They are spending handi over fist to develop AI, development of manufacturing facilities, Data Centers etc. All of this spending creates jobs for the workers, thereby, bringing up the financial wealth for the little man. For book purposes, these deductible (for tax) expenditures are capitalzed and depreciated over a number of years which results in net profit. Also there are Research Credits for research expendtures. Would one rather they were not here creating jobs and growing the economy?
Some things never change, and I hear there are several in congress that refuse to pay their taxes. I researched the Revenue Act of 1913. I had, at times, wondered why any Convention of states would pass a law that taxed one's income. The answer. The middle class received a single filer exemption of $3,000, and a dual filer exemption of $4,000. In today's dollars that would be at least $66,000 to $88,000. If one examines the U.S. Constitution, what one would find missing in Amendment XVI is the section stating: Congress is authorized to pass appropriate legislation to enforce this Article. Somethings will never change, and that law was never supposed to do so.
Flat tax, no write offs? Everybody has "skin" in the game.
YES. But the income tax is blatantly unconstitutional on multiple levels.....including but not limited to the questionable way the 16th ( as well as the 17th) Amendments were so called "ratified", the LATE NIGHT "vote" on Christmas eve and the Article I sec 9 proscrition AGAINST a capitation tax ( ie on Labor).
While your comments are on target and lucid, Roger, it would be encouraging to see some specific targets for revision. Are you aware of any analysts who have created a list of the "loopholes" that you would like to see closed or modified?
Financial disclosures can only partially answer questions about corporate accountability. ITEP identifies depreciation deductions, research credits, research expensing, and other provisions as contributors to the reported outcomes. Confidential tax returns prevent a complete reconstruction of each company’s liability. A zero federal income tax figure itself does not establish misconduct. But pair that with billion-dollar pre-tax incomes, and you've far exceeded the threshold of unfair.
When MegaCorp Inc pays no taxes but donates to politicians and NGOs that openly attack our liberties…something is gravely wrong.
Excellent piece, Mr Stone.
Excellent statement about the tax inequities. You understand this difficult situation very well. I just wish our politicians cared about these economic realities and difficulties that decent hard working Americans face everyday like you do!
The only way that corporations avoiding taxation is unfair is that others are not able to do the same. Income should never be taxed. It's an assumption by government of what the starting value of a product, service or person is worth. Where did government get that power?
We need a tax boycott that is so organised that not one person submits a payment. So simple, yet so ignored.
Well said.
We're about 98% there RE: the 1975 version of Rollerball. Except the "companies" are on AI/digital steroids. In that movie, when Jonathan INSISTED he be _"allowed"_ on the internet that held the Truth, well, you know what happens....
There is a difference between book and tax income for these corporastions. They are spending handi over fist to develop AI, development of manufacturing facilities, Data Centers etc. All of this spending creates jobs for the workers, thereby, bringing up the financial wealth for the little man. For book purposes, these deductible (for tax) expenditures are capitalzed and depreciated over a number of years which results in net profit. Also there are Research Credits for research expendtures. Would one rather they were not here creating jobs and growing the economy?
Some things never change, and I hear there are several in congress that refuse to pay their taxes. I researched the Revenue Act of 1913. I had, at times, wondered why any Convention of states would pass a law that taxed one's income. The answer. The middle class received a single filer exemption of $3,000, and a dual filer exemption of $4,000. In today's dollars that would be at least $66,000 to $88,000. If one examines the U.S. Constitution, what one would find missing in Amendment XVI is the section stating: Congress is authorized to pass appropriate legislation to enforce this Article. Somethings will never change, and that law was never supposed to do so.