This kind of tax scamming needs to get fixed

  • Posted by a hidden member.
    Log in to view his profile

    Apr 14, 2011 8:01 PM GMT
    http://news.yahoo.com/s/yblog_thelookout/20110413/ts_yblog_thelookout/hoax-press-release-targets-ge-tax-controversy

    Corporate giant GE makes 5.1 BILLION in profits - and they're able to scam a 3.2 BILLION refund from the government?

    That's indefensible.

    They are a leech on our country.

  • Posted by a hidden member.
    Log in to view his profile

    Apr 14, 2011 8:45 PM GMT
    rickrick91 saidhttp://news.yahoo.com/s/yblog_thelookout/20110413/ts_yblog_thelookout/hoax-press-release-targets-ge-tax-controversy

    Corporate giant GE makes 5.1 BILLION in profits - and they're able to scam a 3.2 BILLION refund from the government?

    That's indefensible.

    They are a leech on our country.



    Agreed. Here's the New York Times' article on the issue - and how they are able to avoid taxes and even get a massive refund:
    http://www.nytimes.com/2011/03/25/business/economy/25tax.html
  • Posted by a hidden member.
    Log in to view his profile

    Apr 14, 2011 9:30 PM GMT
    If we actually got rid of politicians all together, this country would turn around in about three years..

    I said all politicians.... and NO replacements because as you all know, even the uncorrupted corrupt with power.
  • Posted by a hidden member.
    Log in to view his profile

    Apr 14, 2011 9:32 PM GMT
    TropicalMark saidIf we actually got rid of politicians all together, this country would turn around in about three years..

    I said all politicians.... and NO replacements because as you all know, even the uncorrupted corrupt with power.


    Given that I'm not really a fan of dictatorships or autocracies, a more sustainable solution is to give them less power and if you really want to implement social policy, put it up for bid and outsource it ensuring there is competition.
  • Posted by a hidden member.
    Log in to view his profile

    Apr 15, 2011 12:40 AM GMT
    riddler78 said
    TropicalMark saidIf we actually got rid of politicians all together, this country would turn around in about three years..

    I said all politicians.... and NO replacements because as you all know, even the uncorrupted corrupt with power.


    Given that I'm not really a fan of dictatorships or autocracies, a more sustainable solution is to give them less power and if you really want to implement social policy, put it up for bid and outsource it ensuring there is competition.


    I wouldn't oppose riddler here, though certain policies cannot be done for profit, but they could be bidded on by nonprofits and evaluated based on the best plans, history of success, leadership, etc. The Skoll and Echoing Green Foundations have done similar bids for social entrepreneurs with pretty good results.
  • Posted by a hidden member.
    Log in to view his profile

    Apr 15, 2011 6:03 AM GMT
    Term limits for all politicians.

    A 10% flat income and short term capital gains tax for all making over $100K USD/year. (the income baseline adjusting with real inflation annually after it is enacted).

    NO DEDUCTIONS for any reason, including spouse and kids.

    And if the government runs a deficit, the POTUS, the VP and all congressmen/senators receive half their salary. If there is a federal shutdown, they work without pay until the government is funded again.
  • TrentGrad

    Posts: 1541

    Apr 15, 2011 6:48 AM GMT
    alphatrigger saidTerm limits for all politicians.

    A 10% flat income and short term capital gains tax for all making over $100K USD/year. (the income baseline adjusting with real inflation annually after it is enacted).

    NO DEDUCTIONS for any reason, including spouse and kids.

    And if the government runs a deficit, the POTUS, the VP and all congressmen/senators receive half their salary. If there is a federal shutdown, they work without pay until the government is funded again.


    Seems like your proposal gives a lot of benefit to the wealthy, and really hits the poorest very hard.

    The poor get hit with a tax hike and will lose out on precious deductions that often are used to pay for expenses they cannot reconcile during the rest of the year (like dental expenses for their kids, etc...)...while the rich get a tax cut, and the "short term capital gains tax" hike would almost certainly not make up the loss of revenue to the government.

    Likely meaning that government programs, which the poorest are typically reliant on, would be gutted...resulting in more pain on the most vulnerable.

    I think the requirements on the government are interesting...but if there is a federal shutdown, what's to stop the President/VP/Congress from bolting? Will they be forced at gun point to work???

    How about getting rid of all of the scumbags that bribe the politicians??? That seems like it would be a good start!
  • Posted by a hidden member.
    Log in to view his profile

    Apr 15, 2011 11:56 PM GMT
    TrentGrad saidSeems like your proposal gives a lot of benefit to the wealthy, and really hits the poorest very hard.

    The poor get hit with a tax hike and will lose out on precious deductions that often are used to pay for expenses they cannot reconcile during the rest of the year (like dental expenses for their kids, etc...)...while the rich get a tax cut, and the "short term capital gains tax" hike would almost certainly not make up the loss of revenue to the government.

    Likely meaning that government programs, which the poorest are typically reliant on, would be gutted...resulting in more pain on the most vulnerable.

    I think the requirements on the government are interesting...but if there is a federal shutdown, what's to stop the President/VP/Congress from bolting? Will they be forced at gun point to work???

    How about getting rid of all of the scumbags that bribe the politicians??? That seems like it would be a good start!


    The tax would kick in if you make $100,000 USD per year or more.

    Those making less would pay zero taxes. (FICA/Medicare etc) would be a factor regardless of income).

    And if I had my druthers, the way to prevent politicians from bolting would be the almost certain likelihood that they would lose their next election.

    Or a dereliction of duty charge leading to impeachment (POTUS) or either recall/expulsion from Congress could be a tool to prevent them from bolting.