5. "Ridicule is man's most potent weapon. It is almost impossible to counteract ridicule. Also it infuriates the opposition, which then reacts to your advantage." Saul Alinsky, “Rules for Radicals” (Obozo’s playbook)
Posted on 05/01/2011 2:04:09 PM PDT by Sub-Driver
U.S. mulls making more firms pay corporate tax: group By Kim Dixon 9 mins ago
WASHINGTON (Reuters) – The Obama administration is considering a plan to force more businesses to pay the corporate income tax, an industry group said, in an overhaul package that could be unveiled as early as this month.
Under the proposal, entities with more than $50 million in gross receipts would pay the corporate income tax, instead of the individual income tax they now pay. Partnerships like law firms and hedge firms would likely be the most affected.
"Treasury Department staff are working on a tax reform proposal that reportedly would include corporate taxation of any pass-through entity with gross receipts of $50 million or more," said a letter to members of the National Association of Publicly Traded Partnerships from its executive director Mary Lyman sent on Friday, obtained by Reuters.
Pass-through entities are those in which the income and tax liability "passes through" to the individual rather than being taxed at the company level.
The top corporate tax rate is now the same as the top individual tax rate -- 35 percent. Still, many firms such as private equity and hedge funds have certain income taxed at lower capital gains rates.
Lyman's group represents publicly traded partnerships investing mostly in energy companies. Such partnerships, also called Master Limited Partnerships, pay no tax themselves. Instead the tax is paid by individual owners.
The Obama administration is drawing up a plan to trim the top 35 percent corporate tax rate, among the highest in the world, while cutting deductions, credits and other breaks. Details could emerge as early as this month, according to a source familiar with the proposal.
(Excerpt) Read more at news.yahoo.com ...
Steal more. Print more. Spend more. Repeat.
Dream on with your class warfare Marxist—
Appropriations,which include tax policies,have to clear the House—and a Christian woman has a better chance of retaining her virginity surrounded by Muslim men than any ANY tax hikes have of surviving the Tea Party caucus.
Let's start with GE. Then move on to Goldman Sachs...
They will start collecting taxes from GM and GE?
I doubt it.
The Kenyan administration taxes and hires based on political affiliations.
Making everything more expensive seems to be a big part of Obamanomics. He really is a bozo.
Nailed it—crony marxism.
It’s not the US; it’s government.
How many times does it have to be said? CORPORATIONS DO NOT PAY TAXES! They pass the cost on to their customers.
Somehow I have a hard time believing this to be true
” End of problem!! “
Sorry - you’re just barely addressing the symptoms...
The problem won’t be ended until we, as a nation and a people, understand that we can’t *afford* - economically, and socially or morally - the kind of Government we’ve got, and we’re heading for — that when we get back to the limited, unobtrusive, unintrusive Government envisioned in our Founding Documents, we will have made a start towards ‘End of Problem!’...
True, true, true, one step at a time, first you have to stomp on this 25 five year budget BS.
No. That’s great. Sock it to them. Go ahead. Take so much they have to lay off hundreds of thousands, nay, millions more workers. Destroy ALL the Research and Development. Forget about innovation, creativity, forward thinking, building a thriving workforce which means a thriving economy.
Just tax. And Spend. Extort, and Spend. Borrow, and spend. Print, and spend. Then do it all again. Because they can. And They will. Until it all comes crashing down — which is what they are seeking.
Policies liberals implement have the exact opposite effect of what was originally intended. Then, using their pass from the media, lefty politicians get to campaign promising to fix the very problems they created!
5. "Ridicule is man's most potent weapon. It is almost impossible to counteract ridicule. Also it infuriates the opposition, which then reacts to your advantage." Saul Alinsky, “Rules for Radicals” (Obozo’s playbook)
The consumer pays it, not the corporation. The corporation just passes it on.
But it plays to the no-brain class-warfare crowd quite well.
Take a look at Detroit. A microcosm of what this country would look like if liberals had decades of free reign to implement their crackpot social and economic policies. It’s all about results and anywhere the left is unchecked, they produce poverty, crime, corruption, and despair.
What’s truly ironic about the above mentioned areas under democrat control is the rich get richer and the poor get poorer. Just what they accuse of the right.
Ahhh, more back-door, pass-through taxes raised on the wager earners and the middle class, with corporate taxes used as the smoke and mirrors.
I think that can be fixed.. How about we pass a law that says companies can't raise prices after their taxes raised?
That'll fix it.
< /s >
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