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10 March 2018

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ISL

Jack, SST,

I have a small high tech S-corp, 7 employees (grew 50% last year) and an effective tax rate in single digits. I support treating all Corps the same (or even lowering it for the smallest and raising it for the larger) but would have argued for a revenue neutral change (you cant run a global empire on debt forever).

A little research was educational:

From the SBA
https://www.sba.gov/sites/default/files/rs343tot.pdf

Small businesses in the United States pay an estimated average effective tax rate of
approximately 19.8 percent.

Small business sole proprietorships - effective tax rate at 13.3 percent.
Small business partnerships - effective tax rate of 23.6 percent
Small business S corporations - effective tax rate of 26.9 percent.
*entities with positive net 2004 income.

60% of sole proprietors earn less than 10k. So I can understand why they cant afford a good tax accountant. They are overwhelmingly in farming. Way to go Dems! Build a strong Red Wall in the middle of the country and lose again.

Fred

JTMcPhee,

You mean that 8 years of Hope and Change didn't do Pinelas County any good? Perhaps you should take your skills North of the Mason-Dixon line to earn a better income than the $47K meadian income in Pinelas county.
I am shocked to learn from that Stanford link you posted that Barack Obama, aided and abetted by Eric Holder and Loretta Lynch, mass incarcerated all those minorities that are currently in jail. Were no fair trials, juries, lawal representation provided these poor, poor individuals? If only someone had done something, like stop arresting mironities for committing crimes, like they did with Mr. Cruz in Broward County. Guess who came up with that great idea.

VietnamVet

Colonel,

We in the National Capital Area with government pensions are doing all right. My world has changed little in the last 30 years except I retired and became ancient. My sons not so. Yes, I am a pessimist. The American Empire is intent on repeating the Soviet Union experience where the first thing to go after the collapse was government pensions. I am currently binge watching the British Police Drama “Collateral” on Netflix. This is the first that shows the damage of the endless wars, women on the front lines, and the refugee influx into London. The bottom 80% of America is just as affected by the wars, addictions, job loss and inequality. Corporate Media does not report it except when an Army Vet kills his therapists.

Jony Kanuck

Colonel,
Politics: I have been 'in the trenches' in politics. So my question would be that; Saying that you will raise taxes is electoral suicide. The usual way is to say all the things that you are going to buy for the middle class. Raising taxes to pay for the toys goes at very back in tiny print. The Demo's seem to have decided they want to lose & they're even going to say they intend to lose. How crazy are they?

Class structure. I've actually studied 'Income Distribution' & wrote a paper on it. Can/Brit/USA similar. In Inc Distro the population under study is divided into quintiles or slices of 20%. Using recent US data (which confirms the trend I saw in Cdn data)the top 20% is making it, the other 80% is going downhill. The top 5% of that upper 20% will be the ones who are truly making it. If you are at the bottom of that upper quintile, say family income of $250k, you are probably looking up at the peeps in the upper 5% & thinking that you are not that well off...

Jack

ISL

Glad your tech business is doing well. After I retired from finance and banking 20 years ago, I returned to our ranch. I also became an investor and advisor to several tech start-ups. I am on the board of 4 tech companies now. In my experience if these companies are successful they exhaust their NOLs quickly and then their effective tax rates go north of 30%. Add in state taxes in a high tax state like California and it adds up pretty quickly.

If I were Imperator I would eliminate all income taxes on individuals and corporations and substitute with a consumption tax and a wealth tax. Both flat rates. The wealth tax would be an asset tax on asset holdings over a certain threshold so the bottom 90% wouldn't qualify.

Couple a simplified tax code with a vigorous enforcement of Robinson-Patman and I'm convinced we'll have a much more competitive economy. Of course, I'm with you that we've got to move away from debt for consumption.

Fred

Jack,

Are you going to tax all the tax exempt organizations and foundations?

J

This is troubling


https://thenationalsentinel.com/2018/03/11/deep-state-unprecedented-number-of-ex-cia-operatives-running-for-congress-as-democrats-to-thwart-trumps-agenda/

J

This is also reason for concern

https://us.blastingnews.com/opinion/2017/06/mitch-mcconnell-is-not-a-master-technician-he-is-a-pawn-of-the-deep-state-001808297.html

Fred

J,

American citizens once employed by the CIA are running for office? My god that's, that's, ..... not illegal at all. Like talking to Russians. The next thing you know America's teachers are going to pull students out of classroooms - to protest the Constitutional rights of other Americans - the ones that need to be restricted, because they know which rights Americans truly deserve to have.

Eric Newhill

Slightly OT - Hillary keeps on falling down. This time after bashing on white Americans to an audience in India.

https://www.theyeshivaworld.com/news/general/1487821/whoops-hillary-caught-on-video-slipping-on-flight-of-stairs-in-india-twice.html

If she had been elected she would have died from the pressure. Not to mention that a falling down POTUS is exactly good for the country's image.

J

These ex's have an 'agenda', and that 'agenda' is removing Trump from office as they perceive he is a threat to their 'deep state', not our nation.

Trump has pulled back their hog troughs that they feed in, and they're mad as hell about it.

These are the Brennan crowd, that have been actively involved in Sedition.

They don't give a damn about the will of the people, all they care about is themselves and their illicit gravy trains.

And I have no use for them. Some of them belong in lock-up down at Gitmo, but that's another story.

Fred

J,

"Some of them belong in lock-up down at Gitmo...."

That sounds just like the words crafted for the mouthpiece of the children's crusade, Mr. Hogg of Florida. He knows who has blood on thier hands too.

different clue

J,

(reply to comment 32)

I have been thinking this same thing. My suspicion is that these allegedly "former" CIAgents are all running for Congress at the same time in hopes of getting enough of themselves elected to be able to line up with the usual partisan Democrats to impeach Trump in the House. The usual partisan Democrats would be doing it for the usual Pink Pussy Hat spite-based reasons.

But any CIAgents running for Congress who get themselves elected will be CIAgents under Representative cover. They are being placed to take advantage of the public fever climate being created and prepared by all the operations going on to shape the brainwar battlespace for impeachment efforts.

The lefty blog Naked Capitalism has been very suspicious of the sudden appearance of the CIA Democrats. Co-blogger over there Lambert Strether has suggested ( in kinder terms) that they should be viewed as being Brennan's flying monkeys. Some of the NaCappers have counseled voting against them. None of the NaCappers has counseled voting for them.

If my district's pre-Clintonite legacy paleo-Democrat ( the esteemed Mrs. Dingell) is suddenly replace by a CIA Democrat, I will vote Republican in that election.

Fred

DC,

Debbie Dingell is unopposed in the Democratic primary in a D+20 district with a Republican opponent with zero likelyhood of winning.

J

Fred,

Children's crusade? Fred get real.

On another note, today, TODAY was a get out of jail free card for Clapper, after today Clapper is beyond the statute of limitations for criminal contempt for his lying to Congress.

J

Sedition act is a sub part of the Treason Statute which has no statute of limitations.

Fred

J,

Thanks for the reality advice. While you're busy wringing you hands over Clapper not getting indicted remind yourself that "resistance" in D.C. was quite happy not doing anything about the guy right along with all the anti-Trump Republicans.

J

Yea, please don't remind me. LOL. D.C. too often has their lights on, their shades up, and but nobody's home upstairs.

Clapper will get what's coming to him, maybe in the next life. He's small change anyway.

What I'd love to see is Brennan in an orange jumpsuit with leg-shackles marched onto a waiting C-130 for a flight to Gitmo, where he would be tried for his Treason (spelled Sedition), which has no statute of time limitations.

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