Poll - Total Votes: 16 See Poll Options
Justafantasy · M
calicuz · 56-60, M
I can only speak for America, so yes, the current system is working. Each President, except for Bush Sr, has expanded the economy and created more jobs to the point where America now has a 28 trillion dollar economy. While Corporate America could pay more taxes to lessen the burden on the American worker, Corporate America creates the jobs and we don't get to a 28 trillion dollar economy using a broken system.
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calicuz · 56-60, M
@DeWayfarer
I understand what you're saying, but that makes it a flawed system, and not necessarily a broken system. I am fully aware of the national debt, so it's more of a numbers game with economist and the American banks. The banks probably never expect to be paid the balance as long as thd payments are kept up.
I understand what you're saying, but that makes it a flawed system, and not necessarily a broken system. I am fully aware of the national debt, so it's more of a numbers game with economist and the American banks. The banks probably never expect to be paid the balance as long as thd payments are kept up.
DeWayfarer · 61-69, M
@calicuz Our banks have nothing to do with the national debt, in fact our bailing out of our banks increased the national debt.
On the over all level the International Money Fund holds our national debt, not the federal reserve which our banking system falls under. The Fed only handles a minor part.
Trump wants us even out of the IMF. We owe that 36.22 trillion to China and Japan mostly. China has been beefing up their position in the IMF for quite some time now. China has a trade surplus to do just that. Not a trade deficit like we do! Hence the trade wars.
This is why we are a world economy BTW! The IMF binds us all together. If we were to go bankrupt it's the IMF that would handle it. Not the federal reserve.
The corporations want absolutely nothing to do with the IMF. So instead of paying their fair share, they do what they do best and take advantage of the USA people!
It's broken because it's all tied together. Our national debt is tremendous, our trade deficit is large. And our corporations don't want to pay their fair share. And the corporations want out of the global economy even.
Hence Trump's push for Non Fungible Currencies, which not even the IMF monitors much less the federal reserve.
It's broken in so many ways, that most don't know how it all works.
Trump has no principles whatsoever. A ponzi scheme is his solution out of this mess with NFC's. Not the morally correct way to do anything. Like forcing the corporations to pay!
On the over all level the International Money Fund holds our national debt, not the federal reserve which our banking system falls under. The Fed only handles a minor part.
Trump wants us even out of the IMF. We owe that 36.22 trillion to China and Japan mostly. China has been beefing up their position in the IMF for quite some time now. China has a trade surplus to do just that. Not a trade deficit like we do! Hence the trade wars.
This is why we are a world economy BTW! The IMF binds us all together. If we were to go bankrupt it's the IMF that would handle it. Not the federal reserve.
The corporations want absolutely nothing to do with the IMF. So instead of paying their fair share, they do what they do best and take advantage of the USA people!
It's broken because it's all tied together. Our national debt is tremendous, our trade deficit is large. And our corporations don't want to pay their fair share. And the corporations want out of the global economy even.
Hence Trump's push for Non Fungible Currencies, which not even the IMF monitors much less the federal reserve.
It's broken in so many ways, that most don't know how it all works.
Trump has no principles whatsoever. A ponzi scheme is his solution out of this mess with NFC's. Not the morally correct way to do anything. Like forcing the corporations to pay!
calicuz · 56-60, M
SunshineGirl · 36-40, F
@Teslin If everyone pays the same percentage and a minimum wage worker spends the whole of his life in debt as his entire income is consumed by essential spending and taxes, while the millionaire barely notices the dent to his bank account, that is hardly everyone paying their "fair share", is it?
Teslin · M
@SunshineGirl My thought is someone who makes $100 and pays 10%, they pay $10.
Someone who makes $1,000,000 pays 10%, they pay $100,000.
I personally think that is fair.
Someone who makes $1,000,000 pays 10%, they pay $100,000.
I personally think that is fair.
DeWayfarer · 61-69, M
Flat tax above 1 million dollars in profits. No exclusions, exemptions, or loopholes. Base the flat tax on the inflation rate even. That way it doesn't need to continuously voted on every year.
Inflation goes up they pay even more.
As it is they are not paying any taxes and giving little profits to the accountants. It's mostly computerized for the accountants even.
Inflation goes up they pay even more.
As it is they are not paying any taxes and giving little profits to the accountants. It's mostly computerized for the accountants even.
anythingoes477 · M
Companies can minimize the taxes they pay.............by expanding their facilities, increasing product lines and hiring more people. All 3 are write off business expenses to lower overall tax load.. This how it USED to be. Once Reaguns dropped the corporate tax rates and every Republican has done the same since...........now businesses do not need to expand to lower taxes. No amount of expansion would ever get most corporate giants down to the kind of profitability they now get with a zero to 20% max tax rate. So now they use the 20% tax bracket as a windfall profit to buy back company stock and fire employees and raise CEO pay and bonuses..
CrazyMusicLover · 31-35
whowasthatmaskedman · 70-79, M
It is a legal responsibility of company directors to make profits for investors. As it should be. Its is the responsibilty of the law to define legal requirements and enforce them😷
saragoodtimes · F
MethDozer · M
@saragoodtimes as long as there are wealthy they will create loopholes and take advantage of them
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DanielsASJ · 36-40, M
pdockal · 56-60, M
NOT COMPANIES
SunshineGirl · 36-40, F
nedkelly · 61-69, M
@SunshineGirl I am also worried how the governments spends the money on useless projects
SunshineGirl · 36-40, F
@nedkelly Well the correct mechanism for dealing with that is the ballot box, not picking and choosing what laws you comply with.
swirlie · 31-35
Minimizing tax payable is why the USA is over $36Trillion in national debt today.