What took so long Pelosi?

[sephir]

wasn't there a news report recently that something like 47% of households pay no income tax to the Federal Government?

And as far as this thing goes, you may need to have it implemented despite how it will raise the cost on many goods. With the baby boomer generation retiring in the next few years the rise in cost from social security, Medicare/Medicaid, and the deficits.

[Egon]

YAY! More taxes on goods made in America. JUST what we needed.

[kuronosan]

Whatever happened to foreign tariffs so that American-made goods would be cheaper?

DOES NOT COMPUTE.

[Darus Grey]

wasn't there a news report recently that something like 47% of households pay no income tax to the Federal Government?

And as far as this thing goes, you may need to have it implemented despite how it will raise the cost on many goods. With the baby boomer generation retiring in the next few years the rise in cost from social security, Medicare/Medicaid, and the deficits.

68% of corporations pay no *federal* income tax either.

However the top 1% of corporations pay more taxes then the rest of corporations and citizens of America do combined.

The point of VAT is to basically close most loop-holes that corporations use to avoid taxes here in the U.S. by instituting a tax they can't avoid , and as much as I hate new taxes, it was successful in Europe in that regard.

[Correction]

Remember when Republicans were complaining that Democrats had no plans of their own, only complaints about fixes proposed by the GOP? Yeah, I remember that too.

[archibaldcrane]

Do you.... do you know how a VAT works?

He was clearly adding a ton of value to those bananas. Those little stickers he puts on them to desginate what company they are from are -huge- in the marketplace.

I pay a premium for Chiquita fool.

[JigglyJam]

Had to look up what a VAT was. Hopefully wiki is somewhat in the ballpark.

Would they still be keeping the sales tax in it current form as well?

[Rhinox]

Speaking of Pelosi. why all teh hate conservatrolls?


NRCC: Pelosi Should Be "Put In Her Place" By McChrystal

I guess being labeled racist bigots wasn't enough now they have to be sexist.
Party of Old white men keep dishing out the golden oldies.

[Kuya]

However the top 1% of corporations pay more taxes then the rest of corporations and citizens of America do combined.

I might be one of the few who think this is a bad thing.

[Beckwin]

yes, it's bad that they'd be in such a position of disproportionate wealth to begin with.

[Xtrasweettea]

Wait... what?

So, if I understand this correctly (I'm going to be honest, I only took basic macro and micro economics, I am not super knowledgeable about the economy) there will be a tax on every level of production.

So, if let's say your company makes PB&J sandwhiches, you'll get a tax on putting the lower slice of bread down, a tax on spreading the peanut butter, a tax on spreading the jelly down, and a tax on placing the top slice of bread. So there is a tax on all four levels of production in this example, instead of just the tax on the final product?

Am I understanding this correct? Sorry for the lack of knowledge, I just want to understand this correctly before reading all future posts.

Thanks

[Darus Grey]

Wait... what?

So, if I understand this correctly (I'm going to be honest, I only took basic macro and micro economics, I am not super knowledgeable about the economy) there will be a tax on every level of production.

So, if let's say your company makes PB&J sandwhiches, you'll get a tax on putting the lower slice of bread down, a tax on spreading the peanut butter, a tax on spreading the jelly down, and a tax on placing the top slice of bread. So there is a tax on all four levels of production in this example, instead of just the tax on the final product?

Am I understanding this correct? Sorry for the lack of knowledge, I just want to understand this correctly before reading all future posts.

Thanks

Er kinda? in your example it's all happening in the same place, that's not how it works though.

Example:

I run(ran) a scrap metals yard, we pay no taxes on buying/selling raw material. The Smelting plant makes it into ingots, and the foundry buys them, again not paying any sales tax, they form them into I dunno, cutting blades for a shear, at which point a business buys them...again not paying sales tax, or, a consumer buys them, finally paying sales tax.

VAT would add a tax to each of those stages when the material changes hands to a new company to be further refined into a finished product. (Each stage is adding value, hence "Value Added Tax"). Historically speaking, the reason businesses don't pay sales tax among each other, is because it's supposed to be made up via payroll and corporate income taxes, Since most corporations don't pay these taxes, VAT is a way to collect what is "owed" that they've been dodging.

That's the theory of VAT. Reforming corporate income tax is just chasing a red herring, because they will always restructure to avoid it as best as possible, which is where the need for an "unavoidable" tax stems from, cause the only way to avoid VAT is to not add value to your product, which defeats the purpose of business. 4

[Olo401]

I might be one of the few who think this is a bad thing.

Unfortunately it's bullshit, because the top 10% of corporations keep their accounts offshore where they don't have to pay any taxes at all.

[eunhye]

Speaking of Pelosi. why all teh hate conservatrolls?


NRCC: Pelosi Should Be "Put In Her Place" By McChrystal

I guess being labeled racist bigots wasn't enough now they have to be sexist.
Party of Old white men keep dishing out the golden oldies.

Pelosi Suggests Sexism in GOP Attack on ‘Her Place’ - Washington Wire - WSJ
Woops. She's calling it sexism.

Back on topic. Pelosi has done nothing for this country. Literally, nothing.

[Olo401]

Pelosi Suggests Sexism in GOP Attack on ‘Her Place’ - Washington Wire - WSJ
Woops. She's calling it sexism.

Back on topic. Pelosi has done nothing for this country. Literally, nothing.

She's done a hell of a lot more than any of us here have, so obviously you're the one who knows nothing. And the fact that you didn't get that Republicans saying 'in her place' means women can't lead only enforces that fact.

Congrats btw, you now join the other idiots on the ignore list.

[Vandalhart]

Me: Am I understanding this correctly?

The taxes are for foreign companies selling products in the US because they can have cheaper price points due to not having crazy high healthcare costs?

Something tells me I've misread something.

clearly I misunderstood it all.

[Rhinox]

Pelosi Suggests Sexism in GOP Attack on ‘Her Place’ - Washington Wire - WSJ
Woops. She's calling it sexism.

Back on topic. Pelosi has done nothing for this country. Literally, nothing.

Sweet. She should feel right at home then with Newt "I cheated on my wife and my taxes while I was impeaching Clinton" Gingrich and Dennis "I knew about Mark Foley fondling Congressional paiges for a year before it came to light and did nothing about it" Hastert.

[Leif]

I can't believe I missed this thread!

Why is it, in an economic downturn, Democrats preach they are for "jobs, jobs, jobs, and jobs" (in the words of Pelosi), yet literally six seconds after they say such a thing, they start trying to implement taxes that will only make the situation worse?



Good: Everyone knows Nancy Pelosi is a liar and cannot be trusted.
Bad: Thanks to the gays (there I go with labels again!), she keeps getting elected no matter how pathetic she becomes, so we'll have to wait for her to die from a botched liposuction or something.

[Akucaen]

Boy I can't wait until the VAT taxes that they pay (since this isn't supposed to "affect" middle class Americas) is passed onto us as simply increased prices.

How is this supposed to not affect the middle class?


Edit - Also, if this somehow did miraculously pass, fuck living in a state with sales tax too.

[Beckwin]

there's a problem when we simply throw our hands up in the air and give up when trying to get corporations to pay their taxes.