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Originally Posted by Karma Police  1. "A tax is hereby imposed for each taxable year on the taxable income of every corporation." Section 11, Internal Revenue Code. (I hope you're not trying to play word games with me.) |
I am playing word games with you; because the government is playing games with us all.
Corporations don't pay taxes because they have the power of pricing. Consumers pay taxes, corporations don't.
I did a podcast on it and the extensive importance of this knowledge:
Listen... Quote:
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2. Many lower income wage earners are effectively taxed at a combined rate of more than 30% (income and employment taxes). I can tell you from personal knowledge that many wealthy taxpayers pay a lower effective rate. For example, capital gains are taxed at a rate of only 15%, which in many cases can be deferred almost indefinitely (or avoided completely if the property is owned at death).
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There should be no capital gains tax anyway. Why in the world would you punish achievement and economic investment like this?
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3. There's no such thing as a separate "death tax" that applies in lieu of the estate tax. Estate tax opponents call it the "death tax" for rhetorical purposes.
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It was a botched joke
and a prelude to the fact that the death tax effects a lot more of us than people claim it does. And the fact still remains that it tramples all over inheritance rights. Karl Marx would be proud.
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4. I never said the rich are evil. If you want to debate what I said, that's fine, but why do you need to mischaracterize my arguments?
5. Reasoned argument is more persuasive than hyperbole, like "government-organized theft."
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Was I inaccurate in that assessment?
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6. I don't care whether you think I'm "in agreement with the basis of America or capitalism." State your position or opinion, but please don't characterize me or my beliefs. By the way, many American capitalists, like Warren Buffett, agree with me.
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Because Warren Buffett has so much money he doesn't care who takes it. In fact, he likes to give it away, something the people pushing for the death tax don't like to do (statistically conservatives donate far more money to charity than liberals).