Frokane's Mildly Politcal Hangout Thread

[Polymorpheus]

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[mdk]

technically you've just argued that setting a corporate tax rate of zero would leave 93% of the federal revenue completely in-tact.

@mdk

Coming back to this, humor me @catchamber

dailycaller.com/2014/11/14/billions-o…

So I haven't run the numbers but apparently collecting zero in corporate tax might even work out to a net positive.

[Kratesis]

@catchamber That feels too reductionist for me to agree with.

[mdk]

<Snipped quote by mdk>
It's not misleading, if you look at it as a measure of where the tax burdens have shifted over the decades. I'm arguing that corporations are being taxed a very small amount, and getting boatloads of subsidies on top of that. Now, I'm not advocating that the US necessarily needs to raise their corporate tax rates, because there are ways to grow tax revenues without changing rates. Either way, it seems reasonable to say that if the tax rate is going to be lowered, all of the deductions and subsidies need to be cut out to balance the books.

From the article you linked: "However, it's not quite that simple. Those rates above are the statutory rates — the rates set by law. And that is not the rate that many companies in the U.S. end up paying. Deductions and credits help push down businesses' total tax liability, meaning that many companies end up paying far less than the statutory rate. Here is the average effective tax rate for U.S. corporations."

That average effective tax rate is 18.6%, which makes it the 4th highest in the world.

@catchamber

Well, I mean, it is misleading, because we're talking about corporate tax rates and you're talking about an entirely different thing.

Deductions and credits (for the most part) need to go away and the overall rate needs to come down. This is precisely what Trump is suggesting.

[Polymorpheus]

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[mdk]

If that's what Trump is suggesting, can you show me how his proposal balances out a $7.8 trillion tax cut over 10 years? I'm not asking for logical arguments about expectations of increased investment or job growth. I want to see a legally guaranteed counterweight to that cut.

@catchamber

assets.donaldjtrump.com/trump-tax-ref…

The Trump Tax Plan Is Revenue Neutral
The Trump tax cuts are fully paid for by:
1. Reducing or eliminating most deductions and loopholes available to the very rich.
2. A one-time deemed repatriation of corporate cash held overseas at a significantly discounted
10% tax rate, followed by an end to the deferral of taxes on corporate income earned abroad.
3. Reducing or eliminating corporate loopholes that cater to special interests, as well as
deductions made unnecessary or redundant by the new lower tax rate on corporations and
business income. We will also phase in a reasonable cap on the deductibility of business
interest expenses

[Kratesis]

@catchamber Yeah. Nothing personal or anything and I wasn't sure if I took the meaning of your reply correctly or not but I'm firmly convinced that reducing complex problems and positions to simpler forms is a large part of what plagues society today.

To often I see something with nuance, detail and complexity described like a TV Tropes series description. As a society our perspective is zoomed out too far. We have mastered the art of describing things (and each other) without telling an untruth but also without conveying useful information.

[Dolerman]

@Kratesis

Just out of interest, do you still think Ben Shapiro is Alt-Right or have you done away with that nonsense idea?

[Kratesis]

@Dynamo Frokane I most certainly do.

[Andreyich]

>grouping the sidesword and backsword together

fucking normies

[POOHEAD189]

>grouping the sidesword and backsword together

fucking normies

@Andreyich

Well the arming sword did branch off into both, like the coat of plates going into both the brigandine and the full plate.

[Polymorpheus]

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[Andreyich]

<Snipped quote by Andreyich>

Well the arming sword did branch off into both, like the coat of plates going into both the brigandine and the full plate.

@POOHEAD189

They nevertheless shouldn't be grouped together you silly normie

Also I'm bored and feeling sick so have some shitposts

[POOHEAD189]

<Snipped quote by POOHEAD189>
They nevertheless shouldn't be grouped together

@Andreyich

Oh, well when you put it that way

[mdk]

<Snipped quote by mdk>
While I find this document quite informative, it lacks a handful of specifics that would make it possible for someone to calculate the final effect on the revenue, and doesn't have concrete revenue predictions that qualify as legally guaranteed counterweights. I guess we'll just have to wait until the Congressional Budget Office crunches all of the numbers based on the bill itself.

Also, subsidies are not mentioned in that document. How unfortunate.

@catchamber

I mean, that's not a thing. "Legally guaranteed counterweight" is a made-up concept. But yeah, we'll have to wait until we see the actual bill. As a statement of concept, I feel pretty comfortable with what Trump's suggesting.

Subsidies are probably gonna need a case-by-case assessment.

[Polymorpheus]

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[POOHEAD189]

Apparently 20+ people were killed (and 100 wounded) in a shooting at a Las Vegas country festival.
Link.

[Kratesis]

Apparently 20+ people were killed (and 100 wounded) in a shooting at a Las Vegas country festival.
Link.

@POOHEAD189

Yep.

twitter.com/abbytheodros/status/91473…
mobile.twitter.com/spacetrek9/status/…

[Penny]

And so it goes.

[POOHEAD189]

Jack the Ripper: 5 dead
Zodiac Killer: 5 confirmed dead, 2 injured, 20-28 possibly killed
Ted Bundy: 30 or more dead
Las Vegas Gunman (who's name won't be remembered): 59 killed and 527 wounded.

Murder is getting that common, folks.