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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums80% of Americans Bothered Corporations, Wealthy Don't Pay 'Fair Share' of Taxes
Eighty percent of Americans said the feeling that some corporations and wealthy people don't pay their "fair share" of taxes is a significant bother to them, with 59 percent of recently surveyed U.S. adults saying it bothers them "a lot."
Only a tiny, single-digit percentage of Americans said they are not at all bothered that top-tier corporations and some wealthy individuals pay too little in taxes each year, a newly published Pew Research Center survey finds.
Twelve percent of Americans overall said this level of inequality doesn't bother them "much," but Democrat-leaning voters are twice as likely than GOP-leaning voters (76 percent versus 38 percent) to say they are bothered "a lot" by a tax system that many believe disproportionately burdens people in lower income levels.
President Joe Biden's proposed infrastructure package draws from increased taxes on individuals making more than $400,000 each year. Additionally, his plan seeks revenue by closing tax loopholes for large corporations that pay zero dollars in taxes as well as raising the corporate tax rate to at least 25 percent, up from 21.
https://www.msn.com/en-us/news/politics/80-of-americans-bothered-corporations-wealthy-don-t-pay-fair-share-of-taxes-poll/ar-BB1gfXYg
CaliforniaPeggy
(149,611 posts)The fact that these wealthy individuals have successfully dodged paying their fair share all these years makes my blood boil and raises my blood pressure.
It is unconscionable. It is anti-democratic. It is wrong.
SWBTATTReg
(22,114 posts)don't give me the crap that they pay other taxes too, etc. tons of money.
It's time that they pay more of a fair shake being that (1) they pay taxes only when they sell stock or assets...what happens if they never sell anything, e.g., borrow against their holdings? They can literally go through life w/o paying a single dime in taxes.
Haven't they rec'd so much already from the rest of us? Isn't it time for our share? When they whine and moan about increasing the min. wage, or other so called handouts, they are showing how much of a cheapskate they truly are. Just when is enough, enough?
It's an illness.
kiri
(794 posts)The corporate tax rate is relatively meaningless because there are so many ways they avoid paying any taxes.
GE, for example, during its rich and powerful days, employed more than 100 tax lawyers at $200,000+ salaries each. They occupied an entire floor at headquarters. That cost the company $20,000,000 ($20 million) per year. But the CEO calculated--correctly--that this saved them $500 million in taxes. Spending $20 million or even $100 million to save $500 million is obviously shrewd.
There is NO alternative minimum tax for corporations. Also, the "oil depletion allowance" and its mining equivalent must be repealed--total boondoggles.
Runningdawg
(4,516 posts)80% of Okies think Biden is coming to repossess their trailer homes.
MiniMe
(21,714 posts)foodstamps
mitch96
(13,895 posts)I think if the Dem's pound on this during the next election (2022?) over and over again the RWNJ's will get it.. The repukes are all about the rich and powerful and expect the rank and file common American to pay the bill. If the Americans can see things getting done FOR THEM at no cost to them..... they will go for the Democratic idea.. Yea McTurtle will say it's socialist and it will raise taxes..... he does not finish the sentence with "raise taxes on my wealthy friends not the average American".. Ufff this gets me pissed..
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KPN
(15,643 posts)the villains. Do you want a future of poverty for your kids? If so, vote for Republicans. Thats the message the Democratic Party should pound.
JHB
(37,160 posts)Since they are bad guys, you'd think that wouldn't be so hard, but apparently it is.
House of Roberts
(5,168 posts)OldBaldy1701E
(5,126 posts)But, this has been the case for over four decades now and yet, it is still an issue. The way to change this is not one that is truly welcomed once most Americans realize what it entails. Like the cessation of the worship of that green piece of paper. Like the exposition of 'the American Dream' as just that. I don't see this changing any time soon, unless the bloated power of the oligarchy gets addressed. Plans are great, but I have heard about 'plans' before. The problem is they usually get watered down to the point of non-effectiveness, and then just become another political flag to wave... one that signifies nothing, but looks good when it is paraded around.
uponit7771
(90,335 posts)BradBo
(529 posts)With the gerrymandering in Texas they will forever get their way. Even if Republicans lost in Texas and there was a threat to their majority the Republicans would just steal the election. It will take the power of the fed to correct that. And then we need the Supreme Court and we dont have that. And that idiot Manchin will blow it up because hes seriously mentally handicapped.