http://online.wsj.com/article/SB10001424052970204662204577199492233215330.html?mod=WSJ_hp_LEFTWhatsNewsCollection
WASHINGTON—U.S. companies are booking higher profits than ever. But the number crunchers in Washington are puzzling over a phenomenon that has just come into view: Corporate tax receipts as a share of profits are at their lowest level in at least 40 years.
Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That's the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008.
Showing posts with label Tax policy. Show all posts
Showing posts with label Tax policy. Show all posts
Saturday, February 4, 2012
Tuesday, January 24, 2012
Wednesday, August 3, 2011
THE DEBT DEAL BY THE NUMBERS
$4 TRILLION
The amount bond rating agencies agree needs to be cut from the annual deficits over ten years to get our fiscal house in order
$3.2 TRILLION
The amount the original Republican debt reduction plan proposed.
$4.2 TRILLION
The amount President Obama countered the original Republican proposal with.
This would have consisted of a 4/1 ratio of spending cuts to tax increases on the rich.
$2.2 TRILLION
The amount of debt reduction finally arrived at after the Republicans nearly drove America into default. Speaker Boehner used the Congressional Budget Office numbers as a baseline for the plan. The CBO’s numbers include the end of the George W. Bush tax give-a-ways to the rich which expire in 2012. Elimination of the Bush tax policies will cut the Federal Debt by $3.7 trillion over a decade.
In effect this works out to approximately a 1/2 ratio of spending cuts to tax increases on the rich.
Only 1% of the spending cuts come into play in 2012, the other 99% coming in the out years. Under the enforcement mechanism of the bill, Social Security, Medicare beneficiaries, food stamps and other low income programs are immune from cuts.
98%
Is what John Boehner is saying he got in this bill. If getting schooled by President Obama, and positioning the Republican Party in 2012 as the goon squad for millionaires and billionaires is what John Boehner wanted I think he actually got 100% of what he wanted.
http://www.whitehouse.gov/fact-sheet-victory-bipartisan-compromise-economy-american-people
http://bobcesca.com/blog-archives/2011/08/upon-further-examination.html
http://www.dailymail.co.uk/news/article-2021517/US-debt-deal-Obama-declares-end-tax-breaks-wealthiest-Americans.html
http://www.editedforclarity.com/2011/08/01/debt-ceiling-deal-the-devil-is-in-the-details/#disqus_thread
Postscript: Within days of approval of the debt deal compromise the S&P rating agency downgraded the United States credit rating to AA from AAA. Had the Republican leadership accepted President Obama's original plan of a $4.2 trillion reduction in the federal debt over the next decade this downgrade would have been averted.
The strangle-hold the Tea Party has over the Republican Party has in this case exposed the American taxpayer to billions of dollars in increased interest payments due to this easily predictable lowering of our credit rating.
No sane American would deliberatly poisen their personel credit rating, but the Tea Party and the lack courage and failure of leadership in the Republican Party has poisened our nation's credit and credibility, and yet again handed the bill to the next generation.
The amount bond rating agencies agree needs to be cut from the annual deficits over ten years to get our fiscal house in order
$3.2 TRILLION
The amount the original Republican debt reduction plan proposed.
$4.2 TRILLION
The amount President Obama countered the original Republican proposal with.
This would have consisted of a 4/1 ratio of spending cuts to tax increases on the rich.
$2.2 TRILLION
The amount of debt reduction finally arrived at after the Republicans nearly drove America into default. Speaker Boehner used the Congressional Budget Office numbers as a baseline for the plan. The CBO’s numbers include the end of the George W. Bush tax give-a-ways to the rich which expire in 2012. Elimination of the Bush tax policies will cut the Federal Debt by $3.7 trillion over a decade.
In effect this works out to approximately a 1/2 ratio of spending cuts to tax increases on the rich.
Only 1% of the spending cuts come into play in 2012, the other 99% coming in the out years. Under the enforcement mechanism of the bill, Social Security, Medicare beneficiaries, food stamps and other low income programs are immune from cuts.
98%
Is what John Boehner is saying he got in this bill. If getting schooled by President Obama, and positioning the Republican Party in 2012 as the goon squad for millionaires and billionaires is what John Boehner wanted I think he actually got 100% of what he wanted.
http://www.whitehouse.gov/fact-sheet-victory-bipartisan-compromise-economy-american-people
http://bobcesca.com/blog-archives/2011/08/upon-further-examination.html
http://www.dailymail.co.uk/news/article-2021517/US-debt-deal-Obama-declares-end-tax-breaks-wealthiest-Americans.html
http://www.editedforclarity.com/2011/08/01/debt-ceiling-deal-the-devil-is-in-the-details/#disqus_thread
Postscript: Within days of approval of the debt deal compromise the S&P rating agency downgraded the United States credit rating to AA from AAA. Had the Republican leadership accepted President Obama's original plan of a $4.2 trillion reduction in the federal debt over the next decade this downgrade would have been averted.
The strangle-hold the Tea Party has over the Republican Party has in this case exposed the American taxpayer to billions of dollars in increased interest payments due to this easily predictable lowering of our credit rating.
No sane American would deliberatly poisen their personel credit rating, but the Tea Party and the lack courage and failure of leadership in the Republican Party has poisened our nation's credit and credibility, and yet again handed the bill to the next generation.
Tuesday, January 25, 2011
Sunday, November 14, 2010
Republicans Set To Kill Middle Class Hostage In Their Quest To Preserve +$100,00.00 Give-A-Ways To Millionaires
As the George W. Bush tax give-a-ways to the rich are set to expire there are two proposals on the table. Republicans are unwilling to allow President Obama to give tax relief to working class people unless the deficit exploding tax give-a-ways to millionaires are preserved.
Both the Republican AND Democrat plans give tax cuts to all income brackets. But as the graphic below demonstrates the Republican plan gives massive breaks to the richest 5% of Americans. With no spending cuts to offset this give-a-way this plan will add over $700 billion to the national debt. It is this kind of Voo Doo Economics that have led to the last 3 Republican Presidents adding $9.2 trillion to the National Debt since 1981. Advocates of Trickle Down Economics have promised increased job creation and increased tax revenues, two promises that have NEVER been fulfilled (see also National Debt & Job Creation).
-double click graphic for larger image-
Both the Republican AND Democrat plans give tax cuts to all income brackets. But as the graphic below demonstrates the Republican plan gives massive breaks to the richest 5% of Americans. With no spending cuts to offset this give-a-way this plan will add over $700 billion to the national debt. It is this kind of Voo Doo Economics that have led to the last 3 Republican Presidents adding $9.2 trillion to the National Debt since 1981. Advocates of Trickle Down Economics have promised increased job creation and increased tax revenues, two promises that have NEVER been fulfilled (see also National Debt & Job Creation).
-double click graphic for larger image-
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