Senate Dems move to make rich pay fair share

[Clocker]

And if you believed that headline, you are no doubt all excited about the Easter Bunny coming in a few weeks.

In a clear sign that Congress remains light years away from tax reform, the Senate Finance Committee on Thursday approved a bill to renew a grab-bag of tax provisions and loopholes that cost the Treasury billions of dollars annually and help a wide array of special interests, businesses and families.

The tax breaks and credits cover not only corporate research and development, alternative and renewable energy and mass transit, but also major corporate land transactions, movie and TV production, NASCAR track operations and race horse owners.

Sen. Ron Wyden (D-OR), the new chairman of the Finance Committee, had signaled recently that he wasn’t going to tolerate business as usual, and was determined to scale back some of these expiring provisions to save the government money. By the time the dust settled yesterday, however, the committee had reauthorized all of the existing tax breaks – and threw in a few new ones for good measure. Members did it by voice vote, so that their names were not directly linked to this massive tax giveaway.

The two year price tag of the package is roughly $127 billion in lost revenue.



Good thing the Democrats are sticking it to those millionaires and billionaires that have the GOP in their pockets.

Story at Yahoo Finance (http://finance.yahoo.com/news/breaking-congress-does-something-pushes-184400372.html)

[classhandicapper]

And if you believed that headline, you are no doubt all excited about the Easter Bunny coming in a few weeks.



Good thing the Democrats are sticking it to those millionaires and billionaires that have the GOP in their pockets.

Story at Yahoo Finance (http://finance.yahoo.com/news/breaking-congress-does-something-pushes-184400372.html)

How anyone can still have a favorable view of government is beyond me.

[Robert Goren]

Why anyone should get a tax break for owning race horses is beyond me.

[Clocker]

How anyone can still have a favorable view of government is beyond me.

Don't worry, I'm sure the GOP House will slash that bill. Probably cut that $127 billion down to the bare bones, maybe $120 billion or so.:rolleyes:

[Tom]

It is common for a whore to say whatever you want to hear them say.
At the end of the day, you still go home alone.

[Robert Goren]

Don't worry, I'm sure the GOP House will slash that bill. Probably cut that $127 billion down to the bare bones, maybe $120 billion or so.:rolleyes:More likely add to it.

[HUSKER55]

you guys do understand that tomorrows jobs comes from research and development today?

[PaceAdvantage]

Why anyone should get a tax break for owning race horses is beyond me.Bravo to them for doing it though. I applaud such a move. Anything that helps the industry, I am in favor for...politics be damned...

[Robert Goren]

Bravo to them for doing it though. I applaud such a move. Anything that helps the industry, I am in favor for...politics be damned...Have you look at the prices yearling are bringing?

[PaceAdvantage]

Have you look at the prices yearling are bringing?Don't care. Call me a hypocrite.

Like I said, anything that helps racing, I am in favor of...if that goes against Conservative principles, then color me guilty.

[fast4522]

And why there are no real new job creation, part time America on its way.

http://news.yahoo.com/untaxed-u-corporate-profits-held-overseas-top-2-231036078--business.html;_ylt=AwrBEiSyhkRTh0wARiLQtDMD

[Robert Goren]

And why there are no real new job creation, part time America on its way.

http://news.yahoo.com/untaxed-u-corporate-profits-held-overseas-top-2-231036078--business.html;_ylt=AwrBEiSyhkRTh0wARiLQtDMD Reagan had a return your overseas profit and you'll get a major tax break. It was a limited time offer and he hoped to spur investment at home. When the time was up so little money came back that nobody until now has dared to suggest doing it again. Nice theory, but it didn't work for Reagan 30 years ago and there is little reason believe it will work now. If you can tell me why it work now when it didn't work for Reagan, you might get me to support it. But you have got a lot explaining to do. I just do not see how encouraging oversea investment with tax policy is going to get companies to invest more at home and less overseas. The tax amnesty will just encourage more overseas investment rather encourage investment at home. At least that is what happen when Reagan tried it.

[JustRalph]

And why there are no real new job creation, part time America on its way.

http://news.yahoo.com/untaxed-u-corporate-profits-held-overseas-top-2-231036078--business.html;_ylt=AwrBEiSyhkRTh0wARiLQtDMD

I wonder what could have happen in 2008 that spurred this to double? It's an amazing number? Money just ran offshore for no discernible reason?
It's a real and true mystery. I doubt anybody will ever be able to explain it

Just one of those things, I guess

[Clocker]

I wonder what could have happen in 2008 that spurred this to double? It's an amazing number? Money just ran offshore for no discernible reason?
It's a real and true mystery. I doubt anybody will ever be able to explain it



I can't understand it either. The economy is booming, demand is high, consumer spending is way up, and business conditions are stable. What smart businessman wouldn't want to invest here?

I have heard a few malcontents on the right whining about high taxes, but those guys are never happy. And "uncertainty" is a term a lot of them throw around. Uncertainty about the business environment, about labor costs, about minimum wages, about the cost of health care, about the employer mandate, about EPA regulations attacking whole industries, about higher taxes on millionaires and billionaires, and on and on.

It's all nonsense. "Uncertainty" is just a code word for the greedy capitalists that want to destroy the middle class and replace the real workers with illegal aliens.

[HUSKER55]

get ready.....the answer will be showing up soon

[fast4522]

I wonder what could have happen in 2008 that spurred this to double? It's an amazing number? Money just ran offshore for no discernible reason?
It's a real and true mystery. I doubt anybody will ever be able to explain it

Just one of those things, I guess

It did not have to run JR, the multinational I worked for in 2008 had duel operations in several countries. The company at its height was pushing nearly 20 thousand people around 2000 - 2001 time frame. The corporate plan was to reduce to 1984 headcount while maintaining the same overall business value in dollars. The whole low cost region idea has been around long prior to 1984, the magic year the headcount was projected to be reduced to.

[Robert Goren]

I can't understand it either. The economy is booming, demand is high, consumer spending is way up, and business conditions are stable. What smart businessman wouldn't want to invest here?

I have heard a few malcontents on the right whining about high taxes, but those guys are never happy. And "uncertainty" is a term a lot of them throw around. Uncertainty about the business environment, about labor costs, about minimum wages, about the cost of health care, about the employer mandate, about EPA regulations attacking whole industries, about higher taxes on millionaires and billionaires, and on and on.

It's all nonsense. "Uncertainty" is just a code word for the greedy capitalists that want to destroy the middle class and replace the real workers with illegal aliens.There were a lot of wealthy people who saw what the American banks were doing and decided to get out of Dodge in early 2008. The really smart ones did well. The not so smart ones ran into the same thing overseas. In either case, they knew what the tax rules were when they left. Now they want to go back and change the rules. I would too if I were in their shoes. But that doesn't mean it is good policy.

[fast4522]

"Now they want to go back and change the rules"

Not so, as a multinational corporation taxes are for what is made here and not offshore. The obligation to the corporation's board of directors and corporation officers is to its shareholders period. That obligation guarantees profits earned outside the USA will not be invested here. Your socialists ideals were sold out long ago, low cost regions with lower taxation attracts the investment.

[Robert Goren]

"Now they want to go back and change the rules"

Not so, as a multinational corporation taxes are for what is made here and not offshore. The obligation to the corporation's board of directors and corporation officers is to its shareholders period. That obligation guarantees profits earned outside the USA will not be invested here. Your socialists ideals were sold out long ago, low cost regions with lower taxation attracts the investment.You are living proof that if they tell you a lie often enough, somebody will believe you. Markets attract investments. A new potentially large market opens up and companies flock there. We saw that with Russia in 1990s and see it in China now.

[fast4522]

Your living proof of that, General Electric pays NOTHING in taxes to the United States. Its projected profits will not be off by much, or its flat to zero taxes paid to the United States for 2014. Several other company's could be used for example, lame posts about changing the rules that company's are fine and thriving under is what you have, substance in your post is not.

[Robert Goren]

Your living proof of that, General Electric pays NOTHING in taxes to the United States. Its projected profits will not be off by much, or its flat to zero taxes paid to the United States for 2014. Several other company's could be used for example, lame posts about changing the rules that company's are fine and thriving under is what you have, substance in your post is not.That is not true. GE will pay taxes on money earned in the United States. It will not pay taxes on money earned outside the United States. GE has never given any indication that it would it return money to United States regardless of the tax situation. In all likelihood it would reinvest the its overseas profits overseas no matter what the tax law is here because there is money to made there. That is why there invested there to start out with.
Now tell me if the purposed change in the tax law is such a good idea, why didn't it work when Reagan tried it? I am awaiting your answer.

[fast4522]

Just about anyone here can look up what GE paid in Federal taxes last year to the United States.

Hey Goren, amazing how a simple pair of shoes will produce the real picture of a person.

[Robert Goren]

Still waiting for your answer to why your proposed law didn't work for Reagan? A picture of Hillary ducking a shoe is not a very concise answer. Is that the best you can do?

[HUSKER55]

it answers the question.

[fast4522]

The square answer is I have not heard about changing the rules other than your post. I have no idea what your referencing working or not under President Reagan. The facts and history you have more of a problem with than I, when we hit 20 Trillion in debt your going to post online poker could help. You and your party believe in the other guys money. Sorry but I think you should starve before drawing out more than you actually kicked in. Notice I made no nasty comments about Hillary.

[fast4522]

86M Full-Time Private-Sector Workers Sustain 148M Benefit Takers

http://www.cnsnews.com/commentary/terence-p-jeffrey/86m-full-time-private-sector-workers-sustain-148m-benefit-takers

[fast4522]

Trouble for Democrats: More Senate seats are at risk

http://www.mcclatchydc.com/2014/04/18/224895/trouble-for-democrats-more-senate.html?sp=/99/104/244/112/