There is one big problem with discussions about tax fairness for the ultra wealthy, and the alleged 1%. That one tenth of one percent, people like Mitt Romney and corporations like GE and Apple don’t pay their “fair share”, not when you compare it to the small mom & pop business in this country. Apple is paying only 10%. GE paid basically nothing. I know a small business owner who made $8000 after struggling for 5 years. This person was socked with $23,000 because they had to dip into their IRA last year, to pay last year’s taxes.
Please, explain to The Pink Flamingo how this is fair?
“...Sen. Tom Coburn (R-Okla.) said Tuesday that he is “livid” over a New York Times story detailing how Apple avoids billions of dollars in taxes. “Why should Apple pay at 10 percent and some other company that can’t export their technology … why are they paying 35 percent?” Coburn asked during an appearance on MSNBC’s “Morning Joe.”…”
Why should a mega-billion dollar corporation pay just 10%, Mitt Romney pay 14%, and this independent business person who has created 41 jobs get stuck paying what amounts to nearly 300%?
“…The company paid just $3.3 billion in income taxes worldwide on $34.2 billion in profits in 2011. In a statement to The Times, Apple emphasized that it employees 47,000 full-time workers across the country and pays billions of dollars in state and federal taxes, including taxes on stock profits. …”
Why are big dollar corporations better than the pathetic small business person who is stupid enough to believe that the American Dream is something that applies to each and every one of us these days?
“...GE first came under scrutiny for its taxes after The New York Times reported last March that company paid no taxes at all in 2010. A report from the left-leaning research group Citizens for Tax Justice in 2011, claimed that GE paid an effective federal income tax rate of 11.3 percent that year. The group reported that GE’s effective federal income tax rate was negative 76.6 percent in 2010, negative 52.9 percent in 2009, and negative 14.0 percent in 2008, figures that GE has disputed. Another CTJ report claimed that GE has paid an average 2.3 percent tax rate over the past decade.
Twenty-six Fortune 500 companies, including GE, Pepco Holdings, and Duke Energy, paid no net federal income taxes between 2008 and 2011, according to CTJ. The Greenlining Institute, a nonprofit research group, found earlier this month that last year, Apple paid a 9.8 percent income tax rate, Google paid an 11.9 percent income tax rate and Amazon paid a 3.5 percent income tax rate….”
The Pink Flamingo does not believe in paying more taxes than one should. But, I do believe in tax equity. If a person who is stupid enough to think that they can build a small business and employ nearly fifty people by creating very real and actual jobs, is forced to pay destructive taxes, then where is the fairness?
Shouldn’t every business be required to pay the same rate, regardless of how rich or poor they were? Heck, just tax everyone at 15% and be done with it. Doesn’t matter if it is individual or corporate. Tax non-profits at 15% also. Any individual making under $25,000 should be exempt and any family making under $45,000 should be exempt.
Unfortunately, no one has the courage to do this. Tom Coburn might. I don’t think many others would. I don’t take any POTUS candidate seriously when they talk 20% and are only paying 14% themselves, and have money stashed off-shore.
Let’s also stop insulting the intelligence of the “average” person here. With the exception of those who have bought into the Randian lies, hook, line, and sinker, everyone knows the billionaire corporations and vulture capitalists are getting a break that We the Little People are not. The great thing about America, once, was the fact that we were (allegedly) equal. This no longer applies. It is all about either the typical Democrat who wants more more more, or the typical billionaire who wants more more more. We the Little People, We the Unimportant are the ones getting screwed.
Honestly, I don’t see any bit of difference between the stereo-typical, recidivist taker, and the typical billionaire who is on the take for anything he can get for free from the government. We the Little People are the ones who are paying for both groups of people. Both groups have their hands out, demanding more, more more. Unfortunately, there’s nothing left for us to give.
If someone like The Pink Flamingo complains, we’re condemned as socialists, or worse. That is a lie hurled at anyone who doesn’t dare allow the light of day be shown on the roaches who occupy what is left of Ayn Rand’s memory. I’m a life-long Republican who remembers Ronald Reagan – you know – the person we must now hate and denigrate because he was far to human and decent to fit within the Randian playbook. She hated Reagan, so we must hate Reagan. If we don’t get rid of this taint of Rand, this nation is doomed.
There is a wonderful old Frank Capra movie, Meet John Doe. I suggest you watch it.
It’s too bad someone like Tom Coburn didn’t try to run for POTUS. Nah, the shills at Crossroads, FOX, and the conservative elite would try to crucify him. They don’t want normal people running for POTUS. Might upset the little elitist games they play with their billionaire johns.