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If you make $50,000 a year....

If you make $50,000 a year....

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by: CompassionateRebel Active Indicator LED Icon 6 OP 
~ 8 years ago   Feb 4, '16 7:23am  
If you make $50,000 a year....
 

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TheWoodlandsTXDotCom Active Indicator LED Icon 7 Site Admin
~ 8 years ago   Feb 4, '16 9:20am  
@CompassionateRebel
Although corporate welfare spending is quite high relative to welfare spending, these numbers don't check out / are exaggerated...
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djohn78 Active Indicator LED Icon 13
~ 8 years ago   Feb 4, '16 9:31am  
It also depends on what the definition of "corporate welfare" is.
Some people consider legal tax deductions as "corporate welfare." Eliminate deductions and the tax burden would just be passed on to the consumer and lower wages. Eliminate the corporate tax rate and you will see higher wages and lower prices.
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CompassionateRebel Active Indicator LED Icon 6 OP 
~ 8 years ago   Feb 4, '16 9:47am  
@TheWoodlandsTXDotCom Lazy dismissal. Care to elaborate with your own figures?
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CompassionateRebel Active Indicator LED Icon 6 OP 
~ 8 years ago   Feb 4, '16 9:53am  
Eliminate deductions and the tax burden would just be passed on to the consumer and lower wages.

@djohn78 :
Corporation currently are not paying their fare share of taxes and on top of that as the graphic shows, are receiving welfare from the people. Who do you think is paying the share of taxes the corporate world is pocketing? Hint: take a look in the mirror.
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CecilQ Active Indicator LED Icon 7
~ 8 years ago   Feb 4, '16 9:59am  
@CompassionateRebel
Although corporate welfare spending is quite high relative to welfare spending, these numbers don't check out / are exaggerated...

@TheWoodlandsTXDotCom :
 
The "corporate welfare" figure is subjective. However, I would think that the "social welfare" figures are statistically verifiable. No?
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djohn78 Active Indicator LED Icon 13
~ 8 years ago   Feb 4, '16 10:14am  
Corporation currently are not paying their fare share of taxes

@CompassionateRebel :
 
According to who?
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CompassionateRebel Active Indicator LED Icon 6 OP 
~ 8 years ago   Feb 4, '16 10:25am  
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djohn78 Active Indicator LED Icon 13
~ 8 years ago   Feb 4, '16 10:37am  
Just a quick reciew of the Citizens for Tax Justice website shows that they are a socialist think tank.
Reading their goals of:
Tax fairness for middle and low-income families
*Requiring the wealthy to pay their fair share
*Closing corporate tax loopholes
*Adequately funding important government services
*Reducing the federal debt
*Taxation that minimizes distortion of economic markets
 
This is simply class warfare. Pit the poor against the rich.
Reducing the federal debt sounds great...if you cut spending.
We don't have a tax problem, we have a spending problem!
 
If this group truly wanted "Tax fairness" they would implement the FairTax or a flat tax. What's more fair than everyone paying the same rate?
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CompassionateRebel Active Indicator LED Icon 6 OP 
~ 8 years ago   Feb 4, '16 12:38pm  
@djohn78 Is tax fairness. If it is as you claim class warfare, which is absolutely not, the rich are making out like bandits and the rest of us are getting a a good'old whipping.
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TheWoodlandsTXDotCom Active Indicator LED Icon 7 Site Admin
~ 8 years ago   Feb 4, '16 2:18pm  
@CompassionateRebel
@CecilQ
 
@TheWoodlandsTXDotCom Lazy dismissal. Care to elaborate with your own figures?
 
Lazy post earns a lazy response. ; )
 
1.) Here's one simple way to see it's bunk...your post says: "$36.82 per year for SNAP (food stamps)". SNAP budget was $74 billion in 2014. $74 billion divided by roughly 100 million households =~ $740 per year per household, NOT $36.82. That's wrong by 20x. That's not a perfect breakdown, but it does show the number quoted is silly.
 
2.) Federal, Social Security & Medicare taxes on $50k, should be around $10k or less. Do you really think the government is spending $4k, or 40%, of your tax money on corporate welfare? It's not.
 
3.) Medicare tax rate is 1.45%. On $50k, that would mean $725 per year, not the "$235.81" quoted in the post.
 
The whole thing is bogus, and investigating almost any one of those numbers shows it to be so.
 
Fact is, I agree with the sentiment, but disagree with passing around bad info like this.
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UKMatt Active Indicator LED Icon 3
~ 8 years ago   Feb 4, '16 4:19pm  

2.) Federal, Social Security & Medicare taxes on $50k, should be around $10k or less. Do you really think the government is spending $4k, or 40%, of your tax money on corporate welfare? It's not.

@TheWoodlandsTXDotCom :
 
That's really not much of a rebuttal on that point - you're effectively saying that is not true because you say it isn't true!..
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TheWoodlandsTXDotCom Active Indicator LED Icon 7 Site Admin
~ 8 years ago   Feb 4, '16 4:48pm  
That's really not much of a rebuttal on that point - you're effectively saying that is not true because you say it isn't true!..

@UKMatt :
 
Fair enough, I thought it was absurd on its face, without further explanation.
 
There's a calculator here, that is helpful:
www.whitehouse.gov/2 014-taxreceipt
 
...enter $10k tax (for the example $50k salary), and see a break down. You're not paying 40% ($4k) of your taxes to corporate welfare. There would be no room to pay for all the rest of the fundamental requirements of a functioning government, like social security and medicare, national defense, veteran benefits, debt interest payments, etc.
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UKMatt Active Indicator LED Icon 3
~ 8 years ago   Feb 4, '16 5:21pm  
Fair enough, I thought it was absurd on its face, without further explanation.
 
There's a calculator here, that is helpful:
www.whitehouse.gov/2 014-taxreceipt
 
...enter $10k tax (for the example $50k salary), and see a break down. You're not paying 40% ($4k) of your taxes to corporate welfare. There would be no room to pay for all the rest of the fundamental requirements of a functioning government, like social security and medicare, national defense, veteran benefits, debt interest payments, etc.

@TheWoodlandsTXDotCom :
 
For the record, I have no idea of the validity of the information provided in the first post here so I am not defending it...
 
BUT... I think the point about corporate welfare is that it ISN'T a line item but it is buried in all those things on the website you linked. There is a line item in their for Natural Resources, Energy and Environment - how much of that is going to corporations in the form of subsidies? Same for all the other line items.
 
UKMatt
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djohn78 Active Indicator LED Icon 13
~ 8 years ago   Feb 5, '16 8:14am  
@CompassionateRebel Don't be a victim. If you want to be rich, work hard and get rich. That's how 90% of them do it. I don't know any lazy rich people. The ones I know work day and night.
By taxing one group more than another you remove the motivation for success. I remember when I had an hourly job and I worked a lot of overtime, my check would be the same size after the government was done with me. What was the point? I probably got it back but that's besides the point. It teaches people not to try.
Most people don't even pay into the system if you want to be truly honest. Just look:
 
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djohn78 Active Indicator LED Icon 13
~ 8 years ago   Feb 5, '16 8:19am  
how much of that is going to corporations in the form of subsidies

@UKMatt :
I agree, no company should get subsidies, bail outs, etc.
How many billions have been wasted on green technology that doesn't exist? Solyndra anyone? 529 million to one failed company.
Eliminate federal money going to private businesses unless it is to purchase a good or service.
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