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VeteranXV
Old
1641 - 10-21-2013, 22:32
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Quote:
Originally Posted by Walking_Man View Post
when u play brinksmanship politics with the US economy and by extension the global economy this is the price u pay gg
Are you accounting for China purposely suppressing the value of their currency?
 
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Captain Tele
Veteran³
Immigrant
Old
1642 - 10-21-2013, 22:56
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Why the **** should we tax corporations at all?

Taxing a company promotes people to take jobs elsewhere, relocate their headquarters, etc.

This is blatantly obvious and is how/why this happens.
Special Report: A little house of secrets on the Great Plains | Reuters

Besides, this among other reasons, is what we have a personal income tax for. Just tax the people who work at the company, like we already do, so you can continue to encourage job growth domestically.

While I would prefer a flat tax, personally, but I can also understand some peoples desire for a progressive tax rate as well.
 
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Walking_Man
VeteranX
Old
1643 - 10-21-2013, 23:17
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Originally Posted by JoMo View Post
Nothing to do with that, China has been pushing for this for years for obvious reasons.
im not talking about china wanting something im talking about other country's beginning to question the stability of the US government and their faith in it
 
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JoMo
VeteranXV
Immigrant
Old
1644 - 10-22-2013, 13:32
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35,000 people have enrolled in Obamacare in Washington state...... oh wait.... 31,000 enrolled in medicaid......

Washington Healthplanfinder: more than 35,000 have enrolled in 3 weeks | HealthCare Checkup | Seattle Times

Among those who have enrolled so far, about 31,000 have enrolled in Medicaid coverage, while more than 4,500 have enrolled in private health plans.
 
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havax
VeteranXV
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Old
1645 - 10-22-2013, 13:36
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pathetic
 
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cael
VeteranXX
Old
1646 - 10-22-2013, 13:37
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won't someone please think of the multinational corporations and their effective tax rates
 
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JoMo
VeteranXV
Immigrant
Old
1647 - 10-22-2013, 13:52
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Originally Posted by Cael View Post
won't someone please think of the multinational corporations and their effective tax rates
I wish they would, then maybe people would have jobs.

Job-creation weakens, but unemployment rate down

Payrolls in U.S. Rise Less Than Forecast - Bloomberg


Stock market up though, that means QE will continue and maybe we'll print more, woohoo!!!!
 
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TW_Dagger
VeteranXV
Old
1648 - 10-22-2013, 14:39
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Animo
VeteranXX
Old
1649 - 10-22-2013, 14:57
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We could stop spending countless Trillions on the failed war on drugs and give everyone free healthcare and free food forever.
 
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samUwell
VeteranXX
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Old
1650 - 11-20-2013, 11:04
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Quote:
Treasury Forced to Issue $1T in New Debt in First 6 Weeks of FY14

Between Oct. 1, 2013, the first day of fiscal 2014, and Nov. 14—which was less than a month after Congress agreed to temporarily suspend the legal limit on the federal debt—the Treasury was forced to issue more than $1 trillion in new debt.

During that time, according to the Daily Treasury Statement, the Treasury issued $1,014,215,000,000 in new bills, notes, bonds and other securities.

The government needed this $1,014,215,000,000 to cover government obligations and expenses that exceeded the $255,080,000,000 it raked in through tax revenues during the same six-week period.

Where did that combined $1,014,215,000,000 in newly borrowed money and $255,080,000,000 in new tax revenues go?

The lion’s share went to payoff maturing securities the Treasury had sold before and had now come due.

[.....]


(CNSNews.com) - Between Oct. 1, 2013, the first day of fiscal 2014, and Nov. 14—which was less than a month after Congress agreed to temporarily suspend the legal limit on the federal debt—the Treasury was forced to issue more than $1 trillion in new debt.

During that time, according to the Daily Treasury Statement, the Treasury issued $1,014,215,000,000 in new bills, notes, bonds and other securities.

The government needed this $1,014,215,000,000 to cover government obligations and expenses that exceeded the $255,080,000,000 it raked in through tax revenues during the same six-week period.

Where did that combined $1,014,215,000,000 in newly borrowed money and $255,080,000,000 in new tax revenues go?

The lion’s share went to payoff maturing securities the Treasury had sold before and had now come due.

In total, according to the Daily Treasury Statement, the Treasury needed to redeem $879,734,000,000 in maturing debt during the first six weeks of the fiscal 2014.

After that, the government’s biggest expenses were $98.853 billion in Social Security benefits, $77.704 billion in Medicare expenses, $35.304 billion to Defense Department vendors, $34.623 billion for Medicaid, $20.537 billion for the salaries for federal workers (who have now been compensated for the time they missed during the partial shutdown), $20.155 billion for the Department of Education, $13.060 billion for the Department of Agriculture’s Food and Nutrition Service (which includes the food stamp program), $11.152 billion in Health and Human Services Department grants, $10.648 billion for Housing and Urban Development Department programs, and $9.172 billion to buy insurance for federal employees over and above the $20.537 billion they were paid in salaries.

The Treasury also had $67.234 billion cash on hand at the close of business on Nov. 14--but that was down $21.152 billion from $88.386 billion cash on hand the Treasury had when the fiscal year started Oct. 1.

So, in addition to the $1,014,215,000,000 in new borrowing the Treasury undertook in the first six week of fiscal 2014, it also drew down its cash by $21.152 billion.

When Treasury Secretary Jacob Lew appeared in the Senate Finance Committee on Oct. 10 and called for Congress to increase the legal limit on the federal debt, he lamented that people do not understand that the Treasury needs to constantly borrow new money to meet ongoing expenses and pay off the tremendous volume of old debt that must be redeemed.



“Every week we roll over approximately $100 billion in U.S. bills,” Lew testified. “If U.S. bondholders decided that they wanted to be repaid rather than continuing to roll over their investments, we could unexpectedly dissipate our entire cash balance.”

“There is no plan other than raising the debt limit that permits us to meet all of our obligations,” Lew said later in that hearing.

“Let me start by saying what I think should be obvious: that if we don't have enough cash to pay all our bills, we will be failing to meet our obligations, and under any scenario we will be defaulting on obligations,” said Lew.

“Let me remind everyone,” he said, “principal on the debt is not something we pay out of our cash flow of revenues. Principal on the debt is something that is a function of the markets rolling over.”

Lew’s description of the way the government handles its now-$17-trillion-plus debt mirrors the Securities and Exchange Commission’s definition of a Ponzi scheme.

“A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors,” says the Securities and Exchange Commission’s definition.

“With little or no legitimate earnings, the schemes require a consistent flow of money from new investors to continue,” said the SEC. “Ponzi schemes tend to collapse when it becomes difficult to recruit new investors or when a large number of investors ask to cash out.”

To keep the government in cash during fiscal 2013, which ended on Sept. 30, the Treasury had to sell $8,323,949,000,000 in new debt. The government's single larget expense in fiscal 2013 was paying off $7,546,726,000,000 in debt that matured during the year.
 
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Goshin
GriftKingXX
Old
1651 - 11-20-2013, 11:25
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GE doesnt pay taxes
they have a loop hole built into tax law
something like "any such company that headquarters at 1 GE plaza in Connecticut, ****ville shall hereby be exempt from taxes"

it's really that specific
 
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HumDumpin
ReeeingRainbowXV
Old
1652 - 11-20-2013, 12:11
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Quote:
Originally Posted by Goshin View Post
GE doesnt pay taxes
they have a loop hole built into tax law
something like "any such company that headquarters at 1 GE plaza in Connecticut, ****ville shall hereby be exempt from taxes"

it's really that specific
If you saw what happened to bridgeport ct after the huge GE factory shut down it makes sense that the state would lobby for something like that.
 
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samUwell
VeteranXX
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Old
1653 - 11-20-2013, 12:17
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Quote:
Originally Posted by Goshin View Post
GE doesnt pay taxes
they have a loop hole built into tax law
something like "any such company that headquarters at 1 GE plaza in Connecticut, ****ville shall hereby be exempt from taxes"

it's really that specific
if i remember correctly, they are Rockefeller controlled.
 
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Captain Tele
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Old
1654 - 11-20-2013, 14:23
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Originally Posted by samUwell View Post
if i remember correctly, they are Rockefeller controlled.
And if not Rockefeller ...... Warren Buffet influenced.

Oddly enough......Just like Exxon/Mobil (better known as Standard Oil) is now.

How we go full circle over and over again.
 
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Data
VeteranXX
Contributor
Old
1655 - 11-20-2013, 15:11
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Quote:
Originally Posted by samUwell View Post
<snip>
Um... Holy **** dude.
 
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