This is ..._______

[pbmus]

Link to tweet

[CanonRay]

1. Obscene

[pbmus]

2. Thank you...

[crickets]

13. +1

[Wounded Bear]

3. See how successful Trump's Tax Cuts were?

[nature-lover]

4. "This is why we can't have nice things," says middle America.

[FakeNoose]

15. "This is why we're going broke, paying taxes for the one-per-centers"

... says middle America.

[BuffaloJackalope]

5. A reason to break out the guillotines

[gristy]

6. Fedex too - as reported by the NY Times today

https://www.nytimes.com/2019/11/17/business/how-fedex-cut-its-tax-bill-to-0.html

How FedEx Cut Its Tax Bill to $0
The company, like much of corporate America, has not made good on its promised investment surge from President Trump’s 2017 tax cuts.

WASHINGTON — In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing. What changed was the Trump administration’s tax cut — for which the company had lobbied hard.

The public face of its lobbying effort, which included a tax proposal of its own, was FedEx’s founder and chief executive, Frederick Smith, who repeatedly took to the airwaves to champion the power of tax cuts. “If you make the United States a better place to invest, there is no question in my mind that we would see a renaissance of capital investment,” he said on an August 2017 radio show hosted by Larry Kudlow, who is now chairman of the National Economic Council.

[Sherman A1]

7. This is why we need a Value Added Tax system to be implemented

VALUE-ADDED TAX

A VAT is currently used by 160 out of 193 countries, including every developed nation except the US, because it is a more efficient way of generating revenue with no loopholes. Big companies and rich people are excellent at moving things around to avoid taxes – Amazon, Google, and other companies funnel hundreds of billions in earnings overseas. A VAT makes it impossible for them to benefit from the American people and infrastructure without paying their fair share.

PROBLEMS TO BE SOLVED

Corporations move money around to avoid paying their fair share of taxes.
The burden of paying for social services falls disproportionately on those who earn the least.
The Freedom Dividend should be funded by those who benefit most from the structure and work of society.


"Taxing income is an increasingly ineffective and inefficient way to generate revenue over time. Take a company like Amazon—it can do tens of billions in business and pay no income tax in a given period while storing its income overseas. A Value-Added Tax is a much more efficient way to capture the true value of the American infrastructure and will be increasingly necessary over time as more and more work is done by software, robots and artificial intelligence. With a VAT of half the European level, we can pay for Universal Basic Income for all American adults of $1,000 per month."


GOALS

Generate a revenue stream that can’t be avoided by corporations who are trying to circumvent our taxation system
Generate revenue that will be consistent with increasing automation

https://www.yang2020.com/policies/value-added-tax/

[Poiuyt]

9. VATs tend to be regressive taxes

[Sherman A1]

10. Got any better idea how to capture

the transactions of robot truck miles, amazon sales, google searches etc?

[Initech]

8. Fucking disgusting.

[2naSalit]

11. I do my best to avoid

contributing to that empire as much as I can. The one thing I do like is the WaPo, but I only read what's free.

[Haggis for Breakfast]

12. INSULTING !!!

[JoeOtterbein]

14. Well, we don't want them to cry on TV anymore. In fact, we want to...

...lock them up!

[czarjak]

16. To quote Rushbo...

"Wealth is like rainwater, all that's ever been generated is already here, it's just a matter of distribution". Mission accomplished?