4 ms·

I can't help but think of the GOP's tax "reform" that is a hot topic in the US right now. I say "reform" because there's absolutely no reform about it. It's a t

by cletus 9y ago

I can't help but think of the GOP's tax "reform" that is a hot topic in the US right now. I say "reform" because there's absolutely no reform about it. It's a tax cut for billionaires bought and paid for by the GOP donor class. The paranoia of religious conservatives certainly elected the GOP but make no mistake: they don't give a shit about anyone but the donor class, often personified by the Koch brothers. The carried interest tax credit is noticeably absent from the House plan. The problem with any kind of true reform is that every exception and rule benefits someone and they'll lobby hard to defend it. As for the corporate tax cut, I wouldn't necessarily be opposed to it if it came with enforcement against the offshoring (via transfer pricing) of profits in low tax regimes. But of course it doesn't. Bringing this back to the Paradise Papers and other similar leaks, the problem I have is there's increasingly an ultra-rich class who benefitted greatly by the political stability in places like the developed world but have somehow convinced themselves that they shouldn't have to pay for it. There was a time in my life when I was against the estate tax on philosophical grounds. That time is long gone. It really is a silver spoon tax. If anything it should be higher. I really wish I understood why someone with $5b thought themselves above paying for schools, roads, hospitals and police. What really is the practical difference between having $5b or $10b? Luckily the House plan is pretty much DOA in the Senate.

detcader 9y ago
The GOP is beyond corrupt -- would you agree the focus should be on improving the Democratic Party to be formidable again?
- BatFastard 9y ago
  No, they are just the definition of corruption.
- cletus 9y ago
  Honestly the Democrats aren't much better. I can point the finger in many directions here: 1. The Clinton stranglehold (first Bill then Hilary) on the DNC was absolute to the point with Hilary off the stage there's a vacuum and no real leadership contenders. That I think was largely by design. Hilary didn't want a repeat of the 2008 nomination; 2. Obama seemed to either not care of was ineffective in shaping the party. After eight years in office it was still Clinton's party; 3. The Senate minority leader Chuck Schumer (D-NY) is really the Democratic senator from Wall Street and is one of the biggest defenders of the carried interest tax credit for hedge fund managers. 4. The Democrats have an ageing and increasingly out-of-touch ruling class. As just one example, Diane Feinstein has announced plans to seek reelection... at age 85. This means she'd be 91 at the end of her term. 5. I'm still ot sure the Democrats fully appreciate the anti-establishment wave that swept Trump into office and almost swept Sanders into the Democratic nomination.
  - jordanb 9y ago
    I think one could make the case that the Republicans are not corrupt because what you get when you elect them is exactly what it says on the tin. Their arguments may be lies, but their loyalties are not hidden. It's corruption when you claim to be the party of fairness, the party of making sure average Americans get a good deal, but in the end you're doing the bidding of a slightly different set of billionaires.
nodesocket 9y ago
> It's a tax cut for billionaires bought and paid for by the GOP donor class I am a small business owner setup as a LLC single member company and the new cap will be a positive for me. It will reduce my tax burden allowing me to buy more software from companies, hire, expand, increase advertising spending, etc. I am a very real case, and there are lots of other small business owners like me who are certainly not billionaires. In fact most bay area tech company employees make more than I do. I find it somewhat hypocritical that employees at Google and Facebook that are making 200K+ are complaining about tax reform.
- pyoung 9y ago
  There is nothing hypocritical about opposing a tax 'reform' plan that adds $1.5 TRILLION to the deficit, doubly so if this bill raises my taxes. If my tax burden goes up to pay for government programs, than I am generally (but not unconditionally) okay with that. But if my tax burden goes up so that billionaires and corporations can get a tax cut while also negatively impacting the financial health of our country, than it would be absurd not to strongly oppose the reform bill. Instead of supporting this irresponsible piece of legislation, how about getting in touch with your local representatives and let them know that you believe that the tax burden on small businesses needs to be addressed, but that this particular piece of legislation is not the way to do it.
- rsynnott 9y ago
  Money that you spend on buying software, hiring etc isn’t generally taxable anyway. A business is generally taxed on income, not revenue. You also have to ask, where is the money coming from? In this case, it would appear to be through radically increasing the deficit. There will ultimately be consequences to that (for instance, in a few years, as the US’s credit rating comes under pressure, increased repayments may have to be met with increases on income tax, which you will pay).
  - nodesocket 9y ago
    > Money that you spend on buying software, hiring etc isn’t generally taxable anyway. A business is generally taxed on income, not revenue. But reducing my quarterly and annual tax liabilies allows me to spend more on these things because there is more cash for the business at the end of the day.
killjoywashere 9y ago
Wait, are you suggesting that Trump is conning the good citizens of Oklahoma, Texas, Alabama, and other red states into subsidizing Russian oligarchs? Say it ain't so...

by cletus 9y ago

detcader 9y ago

The GOP is beyond corrupt -- would you agree the focus should be on improving the Democratic Party to be formidable again?

BatFastard 9y ago
No, they are just the definition of corruption.
cletus 9y ago
Honestly the Democrats aren't much better. I can point the finger in many directions here: 1. The Clinton stranglehold (first Bill then Hilary) on the DNC was absolute to the point with Hilary off the stage there's a vacuum and no real leadership contenders. That I think was largely by design. Hilary didn't want a repeat of the 2008 nomination; 2. Obama seemed to either not care of was ineffective in shaping the party. After eight years in office it was still Clinton's party; 3. The Senate minority leader Chuck Schumer (D-NY) is really the Democratic senator from Wall Street and is one of the biggest defenders of the carried interest tax credit for hedge fund managers. 4. The Democrats have an ageing and increasingly out-of-touch ruling class. As just one example, Diane Feinstein has announced plans to seek reelection... at age 85. This means she'd be 91 at the end of her term. 5. I'm still ot sure the Democrats fully appreciate the anti-establishment wave that swept Trump into office and almost swept Sanders into the Democratic nomination.
- jordanb 9y ago
  I think one could make the case that the Republicans are not corrupt because what you get when you elect them is exactly what it says on the tin. Their arguments may be lies, but their loyalties are not hidden. It's corruption when you claim to be the party of fairness, the party of making sure average Americans get a good deal, but in the end you're doing the bidding of a slightly different set of billionaires.

nodesocket 9y ago

> It's a tax cut for billionaires bought and paid for by the GOP donor class I am a small business owner setup as a LLC single member company and the new cap will be a positive for me. It will reduce my tax burden allowing me to buy more software from companies, hire, expand, increase advertising spending, etc. I am a very real case, and there are lots of other small business owners like me who are certainly not billionaires. In fact most bay area tech company employees make more than I do. I find it somewhat hypocritical that employees at Google and Facebook that are making 200K+ are complaining about tax reform.

pyoung 9y ago
There is nothing hypocritical about opposing a tax 'reform' plan that adds $1.5 TRILLION to the deficit, doubly so if this bill raises my taxes. If my tax burden goes up to pay for government programs, than I am generally (but not unconditionally) okay with that. But if my tax burden goes up so that billionaires and corporations can get a tax cut while also negatively impacting the financial health of our country, than it would be absurd not to strongly oppose the reform bill. Instead of supporting this irresponsible piece of legislation, how about getting in touch with your local representatives and let them know that you believe that the tax burden on small businesses needs to be addressed, but that this particular piece of legislation is not the way to do it.
rsynnott 9y ago
Money that you spend on buying software, hiring etc isn’t generally taxable anyway. A business is generally taxed on income, not revenue. You also have to ask, where is the money coming from? In this case, it would appear to be through radically increasing the deficit. There will ultimately be consequences to that (for instance, in a few years, as the US’s credit rating comes under pressure, increased repayments may have to be met with increases on income tax, which you will pay).
- nodesocket 9y ago
  > Money that you spend on buying software, hiring etc isn’t generally taxable anyway. A business is generally taxed on income, not revenue. But reducing my quarterly and annual tax liabilies allows me to spend more on these things because there is more cash for the business at the end of the day.

killjoywashere 9y ago

Wait, are you suggesting that Trump is conning the good citizens of Oklahoma, Texas, Alabama, and other red states into subsidizing Russian oligarchs? Say it ain't so...