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Thread: Amazon Pays Zero Taxes Again on $11 Billion Profits, This is Socialism in America

  1. #61
    Quote Originally Posted by Sonny Tufts View Post
    It's not that simple. Will businesses (whether or not incorporated) be unable to deduct wages paid to employees, rent, supplies, depreciation, and other costs of doing business? If not, which particular deductions will be allowed?

    Will all personal deductions go away, such as home mortgage interest, IRA contributions, and state and local taxes?
    Yes, to all the above.
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.



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  3. #62
    Quote Originally Posted by angelatc View Post
    I'm ok with tariffs.
    I understand it, but I gringe.
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.

  4. #63
    Quote Originally Posted by Anti Federalist View Post
    Yes.

    The tax code should not be used as a tool to punantively "nudge" people into certain decisions and directions.
    So what you really want is a gross receipts tax, not an income tax. Example: I run a business, and my gross receipts are $100,000. But I pay out $110,000 in wages and rent. Economically speaking I have a $10K loss, yet you want me to pay a tax on $100K.
    Last edited by Sonny Tufts; 02-17-2019 at 03:51 PM.
    We have long had death and taxes as the two standards of inevitability. But there are those who believe that death is the preferable of the two. "At least," as one man said, "there's one advantage about death; it doesn't get worse every time Congress meets."
    Erwin N. Griswold

    Taxes: Of life's two certainties, the only one for which you can get an automatic extension.
    Anonymous

  5. #64
    Quote Originally Posted by Pauls' Revere View Post
    Yes, to all the above.
    So you want a gross receipts tax, not an income tax.
    We have long had death and taxes as the two standards of inevitability. But there are those who believe that death is the preferable of the two. "At least," as one man said, "there's one advantage about death; it doesn't get worse every time Congress meets."
    Erwin N. Griswold

    Taxes: Of life's two certainties, the only one for which you can get an automatic extension.
    Anonymous



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  7. #65
    Even if ordinary income and cap gains are both taxed at 15%, they still cannot offset each other. For example, if you make 100k from your job, and lose 100k in the market, you still owe tax on 97k (cap losses only deductible against cap gains, save 3k).

    There are endless examples of how any changes, even good ones, can never be good for everyone.

  8. #66
    James Madison has yet to answer how many people he employs and what value he adds to the economy.

    I'm not going to assume that that is because he does not employ anyone and doesn't add any particular value to the economy, as is the case with most deadbeat socialists whining about a fair share.
    ďThe nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.Ē --George Orwell

    Quote Originally Posted by AuH20 View Post
    In terms of a full spectrum candidate, Rand is leaps and bounds above Trump. I'm not disputing that.
    Who else in public life has called for a pre-emptive strike on North Korea?--Donald Trump

  9. #67
    Quote Originally Posted by Pauls' Revere View Post
    I would rather have a zero income tax and zero capital gains but the realistic side of me knows that is a big hill to climb. At least with a simple formula everyone can actually see what the hell they pay and thus provides greater transparency. So, people could at least aim for a zero tax and it could be measured and tracked much easier too. Imagine being able to pull up a simple historical rate over the last 50 years. i.e. it was 10% one year, then 12% the next, then 20% the following year...etc. people could easily see what the hell is going on.

    An additional benefit is that we could reduce the number of employees at the IRS and probably put a serious dent in eliminating the need for tax prepare-rs and all that tax software garbage too.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  10. #68
    Quote Originally Posted by Pauls' Revere View Post
    Right, the downstream end user(s) pay. Agreed, a zero income tax, but what would they tax instead? how about a flat rate V.A.T.?
    Tariffs and excise taxes are the best. (but the excise taxes must be on the sale rather than the manufacture of the item specified)
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  11. #69
    Quote Originally Posted by Pauls' Revere View Post
    Hmm,..but tariffs = bad for free trade.

    How about an amendment that income tax can not exceed more than 10% of income? Although I want a zero income tax I know its unrealistic to expect it.
    Every tax is bad for something, that is why spending needs to be cut but tariffs are the least bad and have the best beneficial side effects.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  12. #70
    Quote Originally Posted by Zippyjuan View Post
    Which is what tariffs do.
    Any tax does that, that is why you want low spending and low taxes.
    But the things that tariffs nudge people to do are better than the things other taxes nudge you to do.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  13. #71
    Quote Originally Posted by Pauls' Revere View Post
    I understand it, but I gringe.
    Take your medicine like a man.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  14. #72

    Profits Ought to be Tax-Free

    Quote Originally Posted by James_Madison_Lives View Post
    For all you AOC and socialism haters get your heads straight. This is the real socialism in America...for corporations. National Debt now $22 trillion and this deadbeat Bezos isn't pitching in a single dime.


    https://finance.yahoo.com/news/amazo...180337770.html

    That's not socialism; that's good news. The federal nor state governments deserve our tax dollars with the way they waste money today, especially in giving it to people who aren't willing to be productive members of society.
    "Diverse weights are an abomination unto the LORD, and a false balance is not good." - Proverbs 20:23

    "Federal Reserve-generated increases in money supply cause economic inequality... By the time the increased money supply trickles down to middle- and working-class Americans, the economy is already beset by inflation. So most average Americans see their standard of living decline as a result of Fed-engendered money supply increases." - Dr. Ron Paul



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  16. #73
    Quote Originally Posted by Swordsmyth View Post
    Take your medicine like a man.
    [sigh]...
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.

  17. #74
    Quote Originally Posted by Theocrat View Post
    That's not socialism; that's good news. The federal nor state governments deserve our tax dollars with the way they waste money today, especially in giving it to people who aren't willing to be productive members of society.
    work camps for those on welfare! or we just get rid of the welfare state altogether.
    Last edited by Pauls' Revere; 02-17-2019 at 05:51 PM.
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.

  18. #75
    Quote Originally Posted by Swordsmyth View Post
    Tariffs and excise taxes are the best. (but the excise taxes must be on the sale rather than the manufacture of the item specified)
    So, it looks like this then: (sales total, or excise tax) x (.15) = taxes owed. Assuming a 15% rate. The tariffs then are set by congress.
    Last edited by Pauls' Revere; 02-17-2019 at 05:59 PM.
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.

  19. #76
    Quote Originally Posted by Pauls' Revere View Post
    So, it looks like this then: (sales total, or excise tax) x (.15) = taxes owed. Assuming a 15% rate. The tariffs then are set by congress.
    Something like that.

    I would prefer to eliminate all domestic taxation of citizens by the feds and replace it with a cashflow tax on state budgets, that would move the responsibility for taxing citizens to a lower level where it could be controlled better and encourage low taxes and spending by the states.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  20. #77
    Quote Originally Posted by Swordsmyth View Post
    Something like that.

    I would prefer to eliminate all domestic taxation of citizens by the feds and replace it with a cashflow tax on state budgets, that would move the responsibility for taxing citizens to a lower level where it could be controlled better and encourage low taxes and spending by the states.
    and eliminate ALL deductions and credits.
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.

  21. #78
    Quote Originally Posted by Pauls' Revere View Post
    and eliminate ALL deductions and credits.
    Yes.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  22. #79
    Quote Originally Posted by angelatc View Post
    Cutting spending isn't on your table, I see.
    Nobody else is talking about the spending side in this thread either including you until this post. What would you propose cutting? (Ron Paul was reluctant to call for any spending cuts in Social Security and Medicare/ Medicaid and you can't cut interest on the debt)





    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    "Yeah, I have to say these guys(trolls) are pretty sharp. Sort of good to get a challenge and sharpen your thoughts." NorthCarolinaLiberty

    I am Zippy and I approve of this post. But you don't have to.

  23. #80
    Quote Originally Posted by Zippyjuan View Post
    Nobody else is talking about the spending side in this thread either including you until this post. What would you propose cutting? (Ron Paul was reluctant to call for any spending cuts in Social Security and Medicare/ Medicaid and you can't cut interest on the debt)



    A little bit of all of it.
    ďThe nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.Ē --George Orwell

    Quote Originally Posted by AuH20 View Post
    In terms of a full spectrum candidate, Rand is leaps and bounds above Trump. I'm not disputing that.
    Who else in public life has called for a pre-emptive strike on North Korea?--Donald Trump



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  25. #81
    Quote Originally Posted by Zippyjuan View Post
    Nobody else is talking about the spending side in this thread either
    Quote Originally Posted by Swordsmyth View Post
    Any tax does that, that is why you want low spending and low taxes.
    But the things that tariffs nudge people to do are better than the things other taxes nudge you to do.
    Quote Originally Posted by Swordsmyth View Post
    Every tax is bad for something, that is why spending needs to be cut but tariffs are the least bad and have the best beneficial side effects.
    ...
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  26. #82
    Quote Originally Posted by Zippyjuan View Post
    What would you propose cutting? (Ron Paul was reluctant to call for any spending cuts in Social Security and Medicare/ Medicaid and you can't cut interest on the debt)



    We can start with cuts to the military and the bureaucracy and then eliminate all federal education spending and foreign aid.
    Then we can means test Social Security as part of a plan to phase it out entirely.

    And that's just a start.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  27. #83
    Quote Originally Posted by Swordsmyth View Post
    ...
    Zippy is this forum's official free market voice of reason.

    Only he keeps this forum honest by pointing out that government spending is a problem and I appreciate him for continually going where no other forum member would go.

    I am hopeful that in coming posts Zippy will spare some of his time to lecture us about the failings of communism.. as I'm sure no one on this forum has ever brought that up.
    ďThe nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.Ē --George Orwell

    Quote Originally Posted by AuH20 View Post
    In terms of a full spectrum candidate, Rand is leaps and bounds above Trump. I'm not disputing that.
    Who else in public life has called for a pre-emptive strike on North Korea?--Donald Trump

  28. #84
    Quote Originally Posted by Swordsmyth View Post
    We can start with cuts to the military and the bureaucracy and then eliminate all federal education spending and foreign aid.
    Then we can means test Social Security as part of a plan to phase it out entirely.

    And that's just a start.
    Thought you wanted them to guard your border. Cutting education would save about $50 billion out of $4 trillion. Foreign aid gets you another $50 billion. Congratulations! You reduced spending by 2%!

    Ron talked about letting "young people opt out of Social Security" but would "honor the country's commitments to people who qualified for benefits". Opting out would mean fewer taxes coming in to fund it but keeping the payments going means that money would have to come from someplace else- other taxes or spending cuts in other areas or more government borrowing. Any savings would not be realized for the 40 or so years that the non- contributing people reached retirement age.

    If you leave off Social Security and Medicare/ Medicaid and interest on the debt, you can at best cut only about 25% of spending (and that assumes you get rid of everything including 90% of the military budget).
    Last edited by Zippyjuan; 02-17-2019 at 07:18 PM.


    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    "Yeah, I have to say these guys(trolls) are pretty sharp. Sort of good to get a challenge and sharpen your thoughts." NorthCarolinaLiberty

    I am Zippy and I approve of this post. But you don't have to.

  29. #85
    Quote Originally Posted by Zippyjuan View Post
    Thought you wanted them to guard your border.
    They can do that and take massive cuts to their budget, we would just have to pack up and leave the rest of the world.

    Quote Originally Posted by Zippyjuan View Post
    Cutting education would save about $50 billion out of $4 trillion. Foreign aid gets you another $50 billion. Congratulations! You reduced spending by 2%!
    You didn't even address everything I said:

    Then we can means test Social Security as part of a plan to phase it out entirely.
    And I said it was just a start.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  30. #86
    Quote Originally Posted by Zippyjuan View Post
    Thought you wanted them to guard your border. Cutting education would save about $50 billion out of $4 trillion. Foreign aid gets you another $50 billion. Congratulations! You reduced spending by 2%!
    The best way to solve this crisis is government bonds.

    At least until the extraterrestrial invasion and then we will all be rich. Paul Samuelson taught me everything there is to know about economics.
    ďThe nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.Ē --George Orwell

    Quote Originally Posted by AuH20 View Post
    In terms of a full spectrum candidate, Rand is leaps and bounds above Trump. I'm not disputing that.
    Who else in public life has called for a pre-emptive strike on North Korea?--Donald Trump

  31. #87
    Quote Originally Posted by kcchiefs6465 View Post
    Zippy is this forum's official free market voice of reason.

    Only he keeps this forum honest by pointing out that government spending is a problem and I appreciate him for continually going where no other forum member would go.

    I am hopeful that in coming posts Zippy will spare some of his time to lecture us about the failings of communism.. as I'm sure no one on this forum has ever brought that up.
    Maybe we should rename this place "Zippyjuan Forums".
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  32. #88
    Quote Originally Posted by Swordsmyth View Post
    They can do that and take massive cuts to their budget, we would just have to pack up and leave the rest of the world.


    You didn't even address everything I said:



    And I said it was just a start.
    Updated post to discuss what Ron suggested to do with Social Security.


    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    "Yeah, I have to say these guys(trolls) are pretty sharp. Sort of good to get a challenge and sharpen your thoughts." NorthCarolinaLiberty

    I am Zippy and I approve of this post. But you don't have to.



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  34. #89
    Quote Originally Posted by Swordsmyth View Post
    Maybe we should rename this place "Zippyjuan Forums".
    Nah- it is already "Swordsmyth forums".


    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    "Yeah, I have to say these guys(trolls) are pretty sharp. Sort of good to get a challenge and sharpen your thoughts." NorthCarolinaLiberty

    I am Zippy and I approve of this post. But you don't have to.

  35. #90
    Quote Originally Posted by Swordsmyth View Post
    Maybe we should rename this place "Zippyjuan Forums".
    While I definitely agree, Zippy is far too humble for that.

    Just thanking him for his service is more than reward enough for his tireless dedication to free market ideas.
    ďThe nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.Ē --George Orwell

    Quote Originally Posted by AuH20 View Post
    In terms of a full spectrum candidate, Rand is leaps and bounds above Trump. I'm not disputing that.
    Who else in public life has called for a pre-emptive strike on North Korea?--Donald Trump

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