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Squawk of the day - May 27, 2013

" Georgia’s two senators need to take the lead and do something about all of the tax loopholes global corporations are abusing. Unless those contributions they receive from them encourage them to ignore the abuse. "

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Comments

Sister_Ruby_Two 10 months, 4 weeks ago

"Tax loopholes" ....... AKA legal, lawful deductions based on codified provisions of the Tax Code. Nancy Pelosi and John Kerry got a million of 'em. Let's start with them, ok?

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Sherwood_Eagle_Alum 10 months, 4 weeks ago

How about we eliminate income taxes and the IRS altogether. Perhaps some sort of "fair" sales tax? (Pun intended)

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Sherwood_Eagle_Alum 10 months, 4 weeks ago

I've read that experts estimate that a national sales of tax of as low as 23% would generate the same tax revenue the government gets today. Imagine hookers and drug dealers paying their fair share of taxes...

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Sister_Ruby_Two 10 months, 4 weeks ago

Imagine now much more "cash under the table" would be taking place with a flat tax. I'm not convinced at all. I get the concept, but I also get the ability of the poor and downtrodden to evade the system in a trillion ways.

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Sherwood_Eagle_Alum 10 months, 3 weeks ago

You can still tax the "essentials" at a lower rate to help those less fortunate.

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erock 10 months, 4 weeks ago

There's no way in the world that they are going to touch that. It's a novel idea and I agree with you but they aren't going to kill the goose that lays the golden egg.

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RedEric 10 months, 4 weeks ago

Yes, the IRS is a very valuable tool for the political elite. It can be used as punishment or reward. Even though the amendment that authorized the IRS was not done legally the politicians all recognized it as a get rich scheme for them and brought it forward anyway. It also allowed them to divide the country onto those who deserved more and those who had to much. Every tax loophole made someone a lot of money who shared with a politician.

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chinaberry25 10 months, 4 weeks ago

With a sales tax, we would get anyone who comes here that buys merchandise. They say that it will not generate enough revenue, how do they know that. Every drug pusher in USA will have to pay. This should not be used to replace corporate taxes. They still need to pay their 50% of the taxes in America. Of course the companies will continue to go overseas, but until we get rid of the government BS and both parties do it, then they will still go overseas. Read the book Pacific Rim. They predicted this 40+ years ago. It also states the jobs will return to US because we are the most stable country in the world. Meaning we have the fewest Muslims for now. Europe is being bombarded by Muslims, so we need to wake up. The Muslim terrorist can be found by seeing who is working. The terrorists seem to be parasites, living off of women and govt. monies, never holding a job.

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erudite 10 months, 4 weeks ago

Do you have any evidence for this? One instance in the UK and Europe is being bombarded? Do you think that the Muslims might think they are being bombarded by Christians and Jews? Or do you feel that your way is the right and only way?

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Amazed2 10 months, 4 weeks ago

If we have a simple Flat rate Tax we could shrink the IRS by 50%.

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