Obama announces plan to close tax loopholes*

http://www.comcast.net/articles/news-ge ... ama.Taxes/

Our fearless leader president barack obama with help from the tax cheat timothy geithner

vowed to "detect and pursue" American tax evaders Monday as he announced a plan to close tax loopholes and clamp down on overseas shelters.

There is a lot of problems with this.

First of all timothy geithner is a tax cheat himself and the obama admin is riddled with tax cheats. So i guess it okay for libs not to pay taxes but the poor middle class has to pay them all.

Another problem is obama and geithner are going after american companies overseas who already pay taxes overseas. Obama wants to take it upon himself to tax them twice. He says the new taxes could yield 210 billion in revenue. A big thing he is forgetting to mention is that corporations dont pay taxes. The big coprs pass the taxes onto the consumers. So in essence obama is putting a new huge tax on every single American. He always claims to care so much about the little man and wants to help them out, but he goes and taxes these corporation who will pass the extra obama tax onto the consumer. Obama knows this and is an idiot to say otherwise. But instead he will look like the big hero taking down the big corporations.

He claims he wants to close tax loopholes. Lets not forget the interest you write off on your mortgage comes from a tax loophole. Thats how tax breaks work. The govt writes laws saying what can and cant be wrote off for tax purposes. and they would be called tax loopholes. So be careful and watch your back, pretty soon he will be coming after your mortgage interest. and whatever other tax breaks you currently enjoy.

Remember this our freedoms will be taken from us slowly, and during the way many of you wont even notice because you'll think obama is helping you out by taxing big corps or evil oil companies when he is actually putting new taxes on you and making you more and more dependent upon the govt. I personally dont want more of my hard earned money going to new taxes and pet projects in the obama admin. Everything obama is working for is to move the country to a cradle to grave society where you have to depend on the govt for your survival.

I'm about ready to turn my head and expose my jugular. I can't muster the energy to fight this stuff anymore.

I don`t know, I read it & it sounds ok to me. Let everyone pay their share of taxes for a change, nothing like a tax cheater to know how its done & what the loopholes are. Thats why the Gov. hires hackers to catch the other hackers.

He is going to need to do more than close a few tax loopholes since China pulled his credit card.

samhill wrote:I don`t know, I read it & it sounds ok to me. Let everyone pay their share of taxes for a change, nothing like a tax cheater to know how its done & what the loopholes are. Thats why the Gov. hires hackers to catch the other hackers.

As long as you are OK paying all those "extra" taxes, then it's fine I guess.

Corporations don't pay taxes. You do. If GM has to pay an extra $5 million per year in taxes, do you think the price of cars will go up or remain the same?

Jeff, Of course you are correct but that's too many steps ahead for liberals to think. Tax those nasty evil corporations and the unintended consequences be damned.

samhill wrote:I don`t know, I read it & it sounds ok to me. Let everyone pay their share of taxes for a change, nothing like a tax cheater to know how its done & what the loopholes are. Thats why the Gov. hires hackers to catch the other hackers.

Yeah that what obama wants you to think. everyone should pay their fair share of taxes. Did you miss the part where the american corporations over seas will be paying income taxes twice now that obama wants to get his hands on their money. Now that these companies will have to pay higher taxes they will pass that obama socilaist tax onto the consumer. Thier is no such thing as taxing the rich, the rich dont pay taxes. They pass taxes onto you and i.

http://michellemalkin.com/2009/05/04/an ... ax-cheats/

President Obama on Monday spelled out his plans to close corporate tax loopholes on U.S. multinational corporations and crack down on overseas tax havens.

The goal is to help create new jobs in the United States and make the tax code fairer.

But tax policy experts and corporate lobbyists say such measures, unless accompanied by a reduction in the corporate tax rate, will push more companies to move their operations — and jobs - overseas to more tax friendly countries.

So looks like obama will kill more jobs in the us due to his huge tax increases on the rich.

jpete wrote:

samhill wrote:I don`t know, I read it & it sounds ok to me. Let everyone pay their share of taxes for a change, nothing like a tax cheater to know how its done & what the loopholes are. Thats why the Gov. hires hackers to catch the other hackers.

As long as you are OK paying all those "extra" taxes, then it's fine I guess.

Corporations don't pay taxes. You do. If GM has to pay an extra $5 million per year in taxes, do you think the price of cars will go up or remain the same?

jpete, I dont think you know what your talking about when you say corporations "dont pay taxes". My wife and I own a machine shop and believe me we get slammed with taxes. Property taxes, payroll taxes, corporate income taxes, to name a few. Plus health, workers comp, unemployment, business liability insurances and so on. Believe me it aint no picnic! What businesses need are incentives to spend money on capital equipment. Thats the stuff that helps flux the economy. Personally I'd like too see incentives to buy American but I'm pretty sure that NAFTA and other agreements with the EU prevent that.

mr1precision wrote: jpete, I dont think you know what your talking about when you say corporations "dont pay taxes". My wife and I own a machine shop and believe me we get slammed with taxes. Property taxes, payroll taxes, corporate income taxes, to name a few. Plus health, workers comp, unemployment, business liability insurances and so on. Believe me it aint no picnic!

And what do you do with all of those taxes. You add up all of those taxes add them to the daily cost of running your business and come up with prices for your services based on your daily operating cost plus all of the taxes you pay. If you get axed more, you have to raise your prices for your goods and services. It just common sense.

so yes you do pay taxes, but those taxes are passed onto the consumer when the use your goods and services

So I guess we're back to what's good for rich corporation is best for this country. That some money will trickle down on us?
Obama's plan is to reverse that & try trickling UP for a change.

Jeddbird wrote:So I guess we're back to what's good for rich corporation is best for this country. That some money will trickle down on us?
Obama's plan is to reverse that & try trickling UP for a change.

How the hell will money trickle up up. that is insane.

Its not that i think we need to have the best interest of big company looked out for, but if you keep taxing big companys and making it harder for them to do business they will pass their extra burdens down to the consumer. That should be pretty easy to understnad.

mr1precision wrote:

jpete wrote:

samhill wrote:I don`t know, I read it & it sounds ok to me. Let everyone pay their share of taxes for a change, nothing like a tax cheater to know how its done & what the loopholes are. Thats why the Gov. hires hackers to catch the other hackers.

As long as you are OK paying all those "extra" taxes, then it's fine I guess.

Corporations don't pay taxes. You do. If GM has to pay an extra $5 million per year in taxes, do you think the price of cars will go up or remain the same?

jpete, I dont think you know what your talking about when you say corporations "dont pay taxes". My wife and I own a machine shop and believe me we get slammed with taxes. Property taxes, payroll taxes, corporate income taxes, to name a few. Plus health, workers comp, unemployment, business liability insurances and so on. Believe me it aint no picnic! What businesses need are incentives to spend money on capital equipment. Thats the stuff that helps flux the economy. Personally I'd like too see incentives to buy American but I'm pretty sure that NAFTA and other agreements with the EU prevent that.

It's like Brkwlt says.

You add up all your expenses, and that includes taxes, add a little profit and figure them all into the price you charge for your product right?

If you don't, you're not going to be in business long.

brckwlt wrote:

Jeddbird wrote:So I guess we're back to what's good for rich corporation is best for this country. That some money will trickle down on us?
Obama's plan is to reverse that & try trickling UP for a change.

How the hell will money trickle up up. that is insane.

Its not that i think we need to have the best interest of big company looked out for, but if you keep taxing big companys and making it harder for them to do business they will pass their extra burdens down to the consumer. That should be pretty easy to understand.

If corporation stop getting tax incentives to operate overseas, but instead get incentives to provide jobs right here in the U.S,. (instead of India, etc) more Americans will have jobs & thus income to buy things...providing more jobs for Americans & more income.....etc. Paying corporations to operate out of the Cayman Islands or the Isle of Mann helps no one except rich CEO's a very few stockholders.

brckwlt wrote:How the hell will money trickle up up. that is insane. .

I believe that's when the IRS takes your money and you say "Hey, that's my money. I want to keep it." And they say "Go piss up a rope"