jwmbishop Posted April 19, 2011 Report Share Posted April 19, 2011 GE is a publically traded corporation. They don't pay individual 1040 series tax. Its a whole different game. Do you pay Corporate tax? Or know the code they operate under? This would be a very complex discussion best taken off line. But I will say - if they DON'T use all the available tax breaks - the monies are actually taxed TWICE (no double taxation is an individual guarantee - not corporate), once for retained earnings and then again as dividends. Link to comment Share on other sites More sharing options...
hray Posted April 19, 2011 Report Share Posted April 19, 2011 GE is a publically traded corporation. They don't pay individual 1040 series tax. Its a whole different game. Do you pay Corporate tax? Or know the code they operate under? This would be a very complex discussion best taken off line. But I will say - if they DON'T use all the available tax breaks - the monies are actually taxed TWICE (no double taxation is an individual guarantee - not corporate), once for retained earnings and then again as dividends. I knew there'd be a reason GE didn't pay taxes-----other than Immelt being a personal friend of Obama. There's probably a good reason that I haven't thought about why they got all those medical electronic records contracts too! Link to comment Share on other sites More sharing options...
Ford27 Posted April 20, 2011 Report Share Posted April 20, 2011 I see so the man and wife supporting his parents with alzheimers and a brother paralysed in a car crash should be raped by the IRS. Or the family that adopted four crack babies rather than let them languish in foster care at the expense of the rest of us taxpayers should also be penalized? (both real scenarios that I know of) As I said ya gotta think it all the way through - not just jump at the first solution you see. With no taxes there is no government - with no government there is anarchy. You should be a politition. I like how you pull out a portion of the topic. Anyway you are a prime example of what you are arguing against. To suggest that your example is a good way to show me we are not "thinking it all the way thru" is absurd. It does show that you are willing to lump all dependents into one catagory regardless of the circumstance. I will argue that you are then not thinking it all the way thru..I can tell iwe won't agree on this since my views are based on a much less restictive view of society and the ability to carry it out a littlew farther so I will just agree to disagree with you Link to comment Share on other sites More sharing options...
PAPA Posted April 20, 2011 Report Share Posted April 20, 2011 Back on track now......anybody seen the damn lights! Link to comment Share on other sites More sharing options...
KISS_Racing Posted April 20, 2011 Report Share Posted April 20, 2011 Papa, I spoke to Jim for a little bit yesterday. They(I-37) did get the lights... Mark Link to comment Share on other sites More sharing options...
PAPA Posted April 20, 2011 Report Share Posted April 20, 2011 Papa, I spoke to Jim for a little bit yesterday. They(I-37) did get the lights... Mark I know Mark. I was just trying to keep this going for a little while longer. Link to comment Share on other sites More sharing options...
HiTech Posted April 20, 2011 Report Share Posted April 20, 2011 well heck Link to comment Share on other sites More sharing options...
KISS_Racing Posted April 21, 2011 Report Share Posted April 21, 2011 I know Mark. I was just trying to keep this going for a little while longer. Well Papa it is the most attention anyone has paid to SAS in years. We know it is more attention then a certain group has paid to her since a certain company moved into town. It may fall to ruins but we all have some awesome memories. My funniest is one of the last times I ran my truck at SAS. Bill had just touched up most if not all the white paint on the walls. I was trying a different line coming out of 4 and barely caught the wall. I remember Bill driving up with paint in hand and told me I had to go touch up the wall (3ft by 1 ft) where " I left my Mark". There will always be some great stories.... Mark Link to comment Share on other sites More sharing options...
HiTech Posted April 21, 2011 Report Share Posted April 21, 2011 outside of our win .....gary hugh raced one of my old cars with tps going into turn one wide open and someone split a motor wide open left oil all over the place ...when he hit that oil it sent him plowing the wall ...almost broadside .........lucky for him i built a good cage . jesse wrecked the same car in sa ..and last year that cage finaly gave in to 19 years of hitting things ...as the 28 thunder ...anyway back from slapping my shoulder ..... all gary could say the rest of the night headinng home .......man that hurt ...man that hurt .aboult every minute .... not to mention that glaze in his eyes to boot ... how many drivers had that to say ... Link to comment Share on other sites More sharing options...
jwmbishop Posted April 21, 2011 Report Share Posted April 21, 2011 Anyway you are a prime example of what you are arguing against. To suggest that your example is a good way to show me we are not "thinking it all the way thru" is absurd. If I came across snotty - I apologise not only to you but the forum as a whole. Actually I was quite offended - my (or anyone else's) beatiful children and awesome grandchildren are not simply the result of me or my kids not being able to keep it my (our) pants and should never have been reduced to such in thought or statement. My family growth plan - both physically - none of our three were accidents - and financially - has brought many sacrifices of my selfish needs to accomplish. To reach our goal of making sure my grandkids can go to any school they want regardless of costs - has meant that for the last 17 years the high cost of racing has NOT been in our plan. That has left me feeling empty of something that was a part of my life for the 30 odd years PRIOR to my rethinking and refocusing our family goals - and of course little time to catch up for the losses I incurred therein. I made the mistake of not being able to afford the best colleges for my kids because racing was obviously more important as evidenced by the countless thousands I spent rather than saved. If I had put a dollar into an annuity for every $4.00 six pack of beer I've bought - my daughter would be a Yale Grad. So that wound salts easily! No actually I was simply trying to demonstrate that going for the simple solution is not quite the answer. If we make "special circumstances" we make complication - as now it must be defined (what is a special circumstance - and do we learn these as we go when people ask "is mine special" or is it even possible to define them all up front). Then we then must interpret them ourselves and apply them believing they are valid (or in some cases knowing they ain't and claiming anyway), that now must be validated by audit (the IRS then has to check the validitity of the claim) etc. And that would have us right back where we are. Each year would learn new things and just as our current code has become over time - the "new" code would be become just as heavy and burdensome. Our generation would fare well - but the next would pay the price. We may need to "re-clip" and "hang new front panels" on our tax code - I don't think we need a whole new turn key chassis and body. For we the people to govern ourselves we have to understand it's not only a priveledge - but a duty to make sure our choices consider society as a whole - not just our own selfish desires. The "I don't care who pays as long as it ain't me" approach is the same wrong - whether it is coming from the upper, middle or lower earnings brackets! I am open to ideas. I have had these discussions many times with folks much more educated than me, as my primary occupation now is in taxation. And thats how I learned and devoloped my opinion. I certainly am NOT smart enough to figure it out on my own without the input of others! Lets go to a sales tax. Theoretically of course - idealogically I am opposed mainly because history has already shown this type of tax to be unreliable as an income source to government and over burdensome to the taxpayer when the rates are high enough to offset the frugality learned by taxpayers trying to avoid tax. But that doesn't mean that the obstacals can not be overcome - just means it won't be simple to do. Over the past twenty years I (and many other American's - although not as many as one would hope) have dilligently saved a nice retirement nest egg. 95% of that is money I have already paid my taxes on. If we went to sales tax next year - then when I retire (stop active earnings) and go the next twenty years spending it I would be paying my share of tax twice. For the person who does not save (which my life history has proven to me to be financial irresponsibility) this poses no problem. How can we implement this simple tax system, avoid the double tax as Constitutionally guarateed and make it equitable by not penalizing the financiallly responsible who HAVE saved with a higher tax burden? Second obstacle - as new cars are taxed as people avoid taxation by buying every 10 years instead of 5 - what does that do the auto worker and HIS family (this applies to any industry)? Too many scholars have shown me how a sales tax would REDUCE the gross national product - not increase it. Asking for ideas, and hoping to inspire thought - not being argumentative. edited to add link: a good explanation historic failure of asset, flat and sales taxation in history Link to comment Share on other sites More sharing options...
wheelchair49 Posted April 22, 2011 Report Share Posted April 22, 2011 I worked 25 years for one company, made excellent money, put max in with company, company went bankrupt and they raided the retirement funds, I became handicaped and had to raid savings for high hospitable bills one time 30 days in ICU 12 weeks in rehab 35 times in the hospitable in 5 years. Now we only have SS disability my wife had to retire early and was not fully vested. Well so much for sad stories. I pay no taxes now. Link to comment Share on other sites More sharing options...
jwmbishop Posted April 22, 2011 Report Share Posted April 22, 2011 I pay no taxes now. If "Fair Tax for America" has it's way you would. They are the organization pushing for a national sales tax. They claim it's a fair way to tax. Do you believe so? Link to comment Share on other sites More sharing options...
HiTech Posted April 22, 2011 Report Share Posted April 22, 2011 I worked 25 years for one company, made excellent money, put max in with company, company went bankrupt and they raided the retirement funds, I became handicaped and had to raid savings for high hospitable bills one time 30 days in ICU 12 weeks in rehab 35 times in the hospitable in 5 years. Now we only have SS disability my wife had to retire early and was not fully vested. Well so much for sad stories. I pay no taxes now. am i wrong ISNT THERE ss tax .....ITS SAD WHEN YOU WORKED THAT HARD FOR NOTHING ......THIS HAPPENS TO TOO MANY POEPLE .....YOU KNOW THE ONES THAT FREE LOAD OFF OUR SYSTEM ARE THE ONES THAT MAKE ME MAD ..THEY DONT PAY TAXES AND STILL COMPLAIN AND EXSPECT MORE .... Link to comment Share on other sites More sharing options...
jwmbishop Posted April 22, 2011 Report Share Posted April 22, 2011 No doubt, I had a guy call and inquire once as to how much he could make and still get Earned Income Credit, he had a job offer making 6,000 per year more but he would lose his 3000 EIC if he took it. He did not want to give up the "free" 3000 for 6000 he had to work for.... it took every ounce of my professional and personal strengths to not inform him exactly what kind of person he was. Link to comment Share on other sites More sharing options...
HiTech Posted April 22, 2011 Report Share Posted April 22, 2011 dont know whats the deal with this computor ..it wants to double post ..or is it the operator... Link to comment Share on other sites More sharing options...
HiTech Posted April 22, 2011 Report Share Posted April 22, 2011 No doubt, I had a guy call and inquire once as to how much he could make and still get Earned Income Credit, he had a job offer making 6,000 per year more but he would lose his 3000 EIC if he took it. He did not want to give up the "free" 3000 for 6000 he had to work for.... it took every ounce of my professional and personal strengths to not inform him exactly what kind of person he was. aint that the truth ..but sometimes the professional person in me takes a short vacation with some customer.s and that little tell them what i think truth bug .comes out of hideing ..gets me in trouble sometimes......but what the hey ......poeple dont understand ...if uncle sam gives you something ..he will take it back with interest somewhere else .....that guy was better off takeing that job .. Link to comment Share on other sites More sharing options...
wheelchair49 Posted April 23, 2011 Report Share Posted April 23, 2011 I pay no taxes now. If "Fair Tax for America" has it's way you would. They are the organization pushing for a national sales tax. They claim it's a fair way to tax. Do you believe so? No I don't. I paid SS for 54 years since I was 14. The tax codes are all screwed up . My wife worked for over 32 years at IRS she never paid SS Federal employees were exempt. She is very familar with the tax code. Link to comment Share on other sites More sharing options...
wheelchair49 Posted April 23, 2011 Report Share Posted April 23, 2011 I worked 25 years for one company, made excellent money, put max in with company, company went bankrupt and they raided the retirement funds, I became handicaped and had to raid savings for high hospitable bills one time 30 days in ICU 12 weeks in rehab 35 times in the hospitable in 5 years. Now we only have SS disability my wife had to retire early and was not fully vested. Well so much for sad stories. I pay no taxes now. am i wrong ISNT THERE ss tax .....ITS SAD WHEN YOU WORKED THAT HARD FOR NOTHING ......THIS HAPPENS TO TOO MANY POEPLE .....YOU KNOW THE ONES THAT FREE LOAD OFF OUR SYSTEM ARE THE ONES THAT MAKE ME MAD ..THEY DONT PAY TAXES AND STILL COMPLAIN AND EXSPECT MORE .... Thanks HiTech. No I no longer pay SS taxes either but I paid for 54 years unlike the illegal aliens that get everything free. Social Security Disability is different than regular SS Link to comment Share on other sites More sharing options...
HiTech Posted April 23, 2011 Report Share Posted April 23, 2011 I worked 25 years for one company, made excellent money, put max in with company, company went bankrupt and they raided the retirement funds, I became handicaped and had to raid savings for high hospitable bills one time 30 days in ICU 12 weeks in rehab 35 times in the hospitable in 5 years. Now we only have SS disability my wife had to retire early and was not fully vested. Well so much for sad stories. I pay no taxes now. am i wrong ISNT THERE ss tax .....ITS SAD WHEN YOU WORKED THAT HARD FOR NOTHING ......THIS HAPPENS TO TOO MANY POEPLE .....YOU KNOW THE ONES THAT FREE LOAD OFF OUR SYSTEM ARE THE ONES THAT MAKE ME MAD ..THEY DONT PAY TAXES AND STILL COMPLAIN AND EXSPECT MORE .... Thanks HiTech. No I no longer pay SS taxes either but I paid for 54 years unlike the illegal aliens that get everything free. Social Security Disability is different than regular SS They Dont have to be Illegal to get every thing Free ....Just look at your local H.E.B and see three baskets full of steak and such ... [WHATS THE NAME OF THAT CARD ]. then follow them to thier caddy.......Yep i am hung up on that card ..why i see it every day ....BEING ABUSED ..YOU KNOW THE STATE COULD SAVE ALOT OF MONEY IF THEY HIRE ME TO INVESTAGATE EVERYONE WHO USES THAT CARD AND ABUSES IT Link to comment Share on other sites More sharing options...
wheelchair49 Posted April 23, 2011 Report Share Posted April 23, 2011 Lone Star card, it/s like a credit card, you can get cash back and buy beer and lottery tickets. Link to comment Share on other sites More sharing options...
HiTech Posted April 23, 2011 Report Share Posted April 23, 2011 Lone Star card, it/s like a credit card, you can get cash back and buy beer and lottery tickets. legaly you cant buy beer .lotto and get cash back ....behind the back side . poeple do sell them ..... i have not been lucky enough to find someone to sell me one ...lol .and if i did come across a seller ..rest assure they wont like the deal they will recieve from me ...three letter word ...LAW ...ALOT OF THAT COULD BE STOPED IF THEY HAD TO SHOW PROOF .WITH MATCHING NAME ON CARD ..... INSTEAD OF JUST A PIN NUMBER . I SEE KIDS BUYING JUNK WITH EM ..SHOULD ALSO BE AN MIN .AGE LIMIT ......LETS SAY 21 .. CANT BUY BEEER TO 21 ..... Link to comment Share on other sites More sharing options...
NickHolt Posted April 23, 2011 Report Share Posted April 23, 2011 I think this thread qualifies as the most hi-jacked thread on the site. What were we talking about anyway? Nick Link to comment Share on other sites More sharing options...
hray Posted April 23, 2011 Report Share Posted April 23, 2011 Nick, I was thinking that and was about to go back and cut and paste the original post (just to get it back on track)----then I remembered what it was......This one just needs to die of natural causes! Link to comment Share on other sites More sharing options...
JamesHigdon Posted April 23, 2011 Author Report Share Posted April 23, 2011 Nick, I was thinking that and was about to go back and cut and paste the original post (just to get it back on track)----then I remembered what it was......This one just needs to die of natural causes! Ok, to suit you we'll get back on topic, why so much animosity towards a simple question? I have wondered over the past few years why everytime a question on the track comes up it HAS to become negative? Nick, I think the thread is right on topic...wait, what As far as the tax deal...until the feds. stop punishing employeers for hiring people things won't improve much. Anyone who has ever written payroll can tell you the system in place right now makes every person you hire just another tax liability. James Link to comment Share on other sites More sharing options...
HiTech Posted April 23, 2011 Report Share Posted April 23, 2011 I think this thread qualifies as the most hi-jacked thread on the site. What were we talking about anyway? Nick well papa wanted to keep this thread going ..so its going ..lol Link to comment Share on other sites More sharing options...
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