DrVenture420
108071
3692
77
If only someone could do something about it
Apr 4, 2021 4:31 AM
DrVenture420
108071
3692
77
ethanTFH
Getting rid of the tax loopholes would be a start, but the status quo is always maintained.
thinkstopthink
KleptoKea
It shouldn't have to be explained, but people of that country are "extra special"...
ekemoni
What about the full tweet...
ShadowbanMyAss
Yeah, that is not what he believes
surfinmiyagi
Is Biden planning on doing anything to change this? He has a majority in both the house and Senate. It would be easy as fuck.
youdontknowhowtoeatmuffjohnsnow
Biden having a Twitter is a real flex on his predecessor
HeywouldJablowme
Who creates more jobs? A billion dollar company, or a good teacher? Answer, a good teacher.
flexstar
Cogneesant
See that would actually work, give people money and they're going to spend it, the only businesses that need subsidies have already failed.
surfinmiyagi
I can't believe i have to say this but Biden has the authority to make giant corporations pay more taxes than teachers and firefighters.
surfinmiyagi
If it doesn't happen then it's because he and Democrats don't want it to happen. Period.
thatsbadmmkay
Then GET IT DONE JOE!
KarateCanine
And yet his tax rate for corporations is lower than that of Obama. 21% for trump. 28% for Biden. 35% for Obama. And the real economy grew1/
KarateCanine
More under Obama. And his personal tax rate is only going back up to Obama's level. NOT higher. Status quo again. Yay! /S
hoopsnek
givemeyourwalletbagpursemanbag
So that is the American Dream!
Tiddlywanker
Church's above a certain income level should also have to pay taxs. Tiny churchs are more like a club but big ones are a business
Tiddlywanker
Theres litterally one near me with a McDonalds in it.
CrestKnight
they do pay butt loads more than teachers on an individual comparison level. just not total % wise. (tax them more, its just their profit)
Usernamedies
And churches shouldn't be tax exempt while they build literal mansions for get togethers and the preacher lives the high life while telling
Usernamedies
Everyone life will get better just pray and if you don't have cash a checks fine (literally heard that as a child that's the day my dad
Usernamedies
Stopped forcing us to go to church and he switched churches)
thekrustinator42
Congress writes the tax code, the President signs it into law. He's been in congress for 46 years. Draw your own conclusions.
SternoTesticularLigament
Do something about it then
Thelrishlnquistion
Debadguy
Please Biden, I appreciate you but don't use twitter. Not after the last guy.
LychFinderGeneral
It's just a platform
Myothercarisadelorean
weidermeijer
So much of the shit we deal with came directly from his administration. Horrible president.
fbutt09
“That’s snot funny”. ~ Bush Jr. probably
happywalker
muc. s. a. muc. s. a. muc. s. a.
lenonova
"Fool me once, shame on you... fool me... can't get fooled again" ~ Bush Jr. definitely
clintwestwud
High taxes was the American way until republicans. America was much better when corps were taxed super high. You could afford to live comfy
loosersic
If only there was someone who knew this who could actually act and do something about it.
SnowpersonHitInTheFaceWithALackOfCreativity
Just need to get the Republicans on board with doing something that doesn't directly benefit them. A monumental task in itself
ItSeemsYouHaveSufferedaTerribleFate
Much more realistic to find a way to wrestle their districts back from them and get people outside of the political machine elected.
wolfandbison
Down voting this just means you are a robot or an ignorant mess.
Trelkeen
Not really. It means you passed high school econ.Corps pay more in taxes than teachers & firefighters. Economic ignorance is staggering here
xVVitch
Excuse me but have you been living under a rock?
Trelkeen
Nope, but let's try this 5th grade math problem. Your claim is Coke or Nike paid less in ALL taxes combined than teachers did?
s3nd
I think the claim is "Amazon taxes minus welfare costs such as food stamps" in percentage points of total profits versus an average teacher
s3nd
Politics is about semantics
ItSeemsYouHaveSufferedaTerribleFate
No man, he passed high school econ. Clearly that's where his underpaid education stopped LOL.
INeverReadTheTOS
B-but... trickle-down and investing and philanthropy and job-creation! Stop bullying billionaires!
therealalansmithee
You’re shitting on their original god, Ronnie
TerribleEnglishSpeakingGerman
D-did... i hear... Sarcasm? Can't belive... Poor billionaires :(
LurkerOfDarkness
Problem is they don't invest, they don't create jobs, and what little philanthropy they do is deductible..
diskodasko
I think he's picking on a guy who used to had a stutter.
diskodasko
Epinephilim
Start bullying billionaires!
NinjaCongo
Guillotine
fbutt09
The new whipping boys
Halifax13
Start eating billionaires*
Epinephilim
You will never be a billionaire, but it's not too late to find out what one tastes like.
DarkBusterBaron
Depends on the billionaire bezos probably tastes like Satans feces, zuckerberg tastes like titanium and oil, Elon tastes like saltuna.
annonymouse211
This is one thing in the US that really gets me upset. I get "job creation" and "location incentives" but it's not worth the tax loss.
vermillionpenguin
"We sell all our products at a loss, but we make up for it in volume!" If taxes don't cover expenses, no amount of business will help.
PXEVonKossa
The reason cities don’t care whether the corporation pays taxes when they give incentives is that the employees they hire pay taxes
bambulina
Nothing is worth the tax loss.
naytorin
Unironic use of the term 'job creators' is a sure sign you're dealing with an idiot.
armagetz
FWIW, most of these stories are rooted in either incurred capital losses rolled over from another year or because of compsenation set ups
armagetz
In the latter case, it’s not that the money isn’t being taxed, it’s just being taxed at the employee level.
georgejimmydoodle
The Trump corporate tax break was sold as a job creator. Corps used the $$$ to buy their own stock to drive up the stock value.
charlie2979
Job creation is the thing i don't get the most. Everything creates jobs. FDR paid people to take singing lessons.
charlie2979
And that worked pretty well. Spending on infrastructure projects creates jobs. But no one does that.
Holinyx05
My state will happily eat 100+ million in tax loss just so 500--1.500 people can get an chemical plant/oil industry job
PXEVonKossa
Citation of 100 million in incentives?
DoctorSniffles
Honestly they tend to get more.... the offers Amazon was getting were insane.
blindbritty29
So 1500 ppl can have jobs &most likely with benefits which would cost a company more than 100mil. Rather the gov. have it vs your community?
Holinyx05
so 1500 people > 4 million people? The rest of the state needs to benefit if we're gonna lose that much local tax money
blindbritty29
1/ 1) The 4mil people you’re referencing would never see that money. 2) those 500-1500 people most likely live in the community, purchase...
blindbritty29
2/ ...local goods, and support local businesses. The state government would probably take those taxes and use them in areas that you have..
hoopsnek
If only someone could do something about it
NikoAndNoshi
What world do you live on where you think 1 dude will come and save you? Go vote in 2022 save yourself or get ready for another 2016.
HellYeti
Wouldn't matter if he did. His rich senators with fingers in corporate pies would block it from going through.
SerialChickenLover
Like a president of the United States?
nopost
He can push for it all day long, he still needs 60 senators to change tax laws. Congress has the power of the purse; that's civics 101
Agreatmanoncesaid
Pipe dreams. Money=Power. Power corrupts. No one stands a chance against people/corporations with big money. I wish it wasn't true. It is.
libaf
Doesn't he get 3 bills through reconciliation, which can pass with a simple majority?
libaf
Not scrapping filibuster will cause problems after that, though.
420supercoolusername69
Is this real? Is this a real thing?
firearmofdoom
A good coorparation pays no taxes, other types of business not so much, basically you want as much tax deductible expenses as possible (1/2)
firearmofdoom
In a corporation such as maybe renovation new supplies basically make no profit to be taxed and break even
PopPunkMustBeDefended
https://www.cbsnews.com/news/2018-taxes-some-of-americas-biggest-companies-paid-little-to-no-federal-income-tax-last-year/ link if curious
barnwolf
Corps get discounts for building infrastructure and losing money. For fast growing businesses that means no taxes.
georgejimmydoodle
Yup. Rich people, too. Warren Buffett iirc, once said that he pays a lower tax rate than his secretary.
gtollie
The key word is “rate”. Most of his earnings were capital gains which are taxed at a lower rate than salary. He definitely pay more $ in tax
Communique
‘Murica baby!
Outlavv
Absolutely. The richer you are in america, the less taxes you lay and the less laws you need to obey
fbutt09
*This message was wholeheartedly sneered upon by the elitists*
ButterfaceTaintClown
speeding and parking fines don't change billionaire behaviour. ref: gumball rally.
Outlavv
Pay*
ReadMyLeaders
With liberty and justice for the rich and wealthy.
CaptainTinyTongue
Isn't that kind of system a classic precursor to uprising and revolution? ?
Awmph
politicians work for their donors
Fistouille
Don't you mean all over the world?
Epinephilim
That's not necessarily true. You don't need to cheat *as much* in America as you do in, say, Sweden or Finland, to pay less taxes when rich.
SvarvSven
As a Swede, I think we have basically the same system as the US...sure some minor differences. The rich still can legally pay less 1/2
SvarvSven
tax than the poor. 2/2
TheRealFireFrenzy
Well alot of shit isnt CHEATING as such its HAVING MORE RESOURCES to spend finding the best way to fill out a tax form
TheRealFireFrenzy
which is scummy in the extreme but, you know, not technically cheating (unless you're doing the fraud thing in which case fuck'em)
NoMansRefund
That just means it's easier, and more expected of you to cheat as an American citizen.. nor that scandinavian countries are harder to get...
NoMansRefund
Rich in
MarkySpaceMagnet
Interesting way to word it. You dont need to cheat as much to pay less taxes.
SvarvSven
I agree, but I'm getting downvoted for it. Probably because the truth hurts. lol
PopPunkMustBeDefended
Pretty sure there was an investigation or something opened that found 60% of the top US companies pay fuck all in taxes
DaveSamsonite
I’m pretty sure there wasn’t. Source? We are talking about INCOME tax, in the US. Not sales tax or property tax or fuel taxes.
PopPunkMustBeDefended
Lmao, literally posted it here in this thread. It was income tax they discussed. Will post same link again here
PopPunkMustBeDefended
https://www.cbsnews.com/news/2018-taxes-some-of-americas-biggest-companies-paid-little-to-no-federal-income-tax-last-year/
DaveSamsonite
I misinterpreted your statement. Thought you meant “fuck all” as meaning a LOT, like “fuck ton.” We do not disagree at all. It’s shameful!
DaveSamsonite
It’s an imprecise term, I think. I was saying 60% don’t pay hardly anything in income tax.
DaveSamsonite
Hence my comments about other types of taxes being non-relevant.
PopPunkMustBeDefended
Ah, no worries then. Be cool if they did pay taxes, would love to see what that would do for infrastructure, education, etc haha
Grizy
Fun Fact: if you're rich enough, you can just not pay taxes. The IRS has been gutted of so much funding they literally can't pursue the rich
IMGURN3WB
Not sure why you were down voted, this is actually the issue at hand.
Sage042000
Yep. They've explicitly admitted that R's cut their budget so hard that they can't afford the staff/lawyers to go after rich folks.
Sage042000
/2 Better not try any slick shit if you make 50k tho.
gaidinbdj
Not quite. When people say this, they're referring to only one specific tax (federal corporate income tax). They pay *lots* of other...
gaidinbdj
...taxes. Like Amazon gets trotted out a lot and they typically pay $3-5 billion in taxes annually.
thatonewhosaid
Sauce please?
gaidinbdj
Uh, every article that makes this claim? It'll say in the headline "Amazon pays no taxes" then usually goes on to admit right in the...
gaidinbdj
....same article that they're only talking about federal corporate income tax.
georgejimmydoodle
You mean like sales taxes and payroll taxes?
gaidinbdj
Among a few dozen others, yes.
Akurei00
Sales tax is tacked onto the total and this is paid straight out of the consumer's pockets, not the company. basically, they never owned it.
wolverine9000
In most states companies are exempt from sales tax if the item is used in manufacturing or resale. Which is pretty much everything
Akurei00
Payroll taxes are deducted from employees' earnings. Again not coming out of the company's pockets.
barnwolf
Payroll tax is taxes owed by the employee not the company though. It's just paid by the company as a convenience for the employee.
barnwolf
*A legally required convenience, but still.
jzastrow
Yeah but many economists think it's better to tax the individuals where the profit flows than the corporate entity itself
thatonewhosaid
That's all well & good but if the US moves to that model, corporations better lose all other privileges that allow 'em to act as individuals
Mjl10001101
Yeah, Jeff Bezos pays a lot of taxes. Amazon as an entity does not pay much but it also employs a ton of people. How many of us use amazon?
thatonewhosaid
I'm sure he does. The more interesting question is does he actually pay what he would without all the write offs he can take advantage 1/2
thatonewhosaid
of because of the privilege his financial status affords him? 2/2
Mjl10001101
If you don't like them don't use them.
thatonewhosaid
I certainly agree with that sentiment. It is important to remember, though, that not all people have the financial ability to do that.
Almondzmbduck
Do you mean is it a real tweet? Yes. https://twitter.com/POTUS/status/1378434305962221569?s=19
cepacolusmaximus
Aaaand cue republicans complaining that Twitter isn't an appropriate place to share policy announcements in 3, 2, 1...
redtwostandingby
I can’t help but go down the rabbit hole and there are so many stupid mother fuckers out there and I want to waste my time arguing every one
titaniumsnail
Godspeed.
NouCake
The comment section on twitter is devestating
OndeBent
The first two: "win a real election"
Flickerish
The number of bots is unsurprising
potentiallyunsafe
I can't believe comments arguing against higher or even just enforcement of taxes for corps are made by real sincere people.
GrapeSour
It’s Twitter, real bottom of the barrel.
MrCaterpillow
See this is why I just use it to look at porn.
RussianBotAccount3000
Not sure if you are aware but those are mostly real people that live on this planet commenting. So ergo, we live amongst morons.
kingkongkeom
Is it worse that youtube?
BigMan7o0
Yes, by far.
Ignition101
That was sad to see.
Rogerwilco1974
NEVER read the comments.
Seyavash
Twitter, YouTube, reddit, imgur... Back to the bubble we go! Wait.. I read above comment, crap...