Will it get Ugly in Wisconsin?

Maybe it has more to do with the fact that 2/3 of corporations pay exactly zero in taxes. Maybe because in the last 10 years, taxes on these fat cats have not increased while costs across the board have increased for all of us including government. What does business do when their costs increase? They raise prices. What does government do when costs increase, they give tax breaks decreasing their revenue. It's not government over spending that is the problem as Republicans would have us believe, it is our politicians refusing to raise taxes on corporations that are swimming in profits thanks to tax rates that are equivalent to taxes in the 1950's adjusted for inflation. If expenses go up, revenue has to increase. Any business knows that but for some strange reason, Republicans think that we can run a government that is antithetical to this principle. I don't expect you to understand this, nor should you bother trying. Your judgment is clouded by your adherence to a political party that presents its version of reality in ideological terms that make deciphering the truth of the matter way beyond your capabilities.

 

I can tell your degree is not in business either

 

Proven!!!

WASHINGTON (Reuters) - Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said.

The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005.

More than half of foreign companies and about 42 percent of U.S. companies paid no U.S. income taxes for two or more years in that period, the report said.

During that time corporate sales in the United States totaled $2.5 trillion, according to Democratic Sens. Carl Levin of Michigan and Byron Dorgan of North Dakota, who requested the GAO study.

The report did not name any companies. The GAO said corporations escaped paying federal income taxes for a variety of reasons including operating losses, tax credits and an ability to use transactions within the company to shift income to low tax countries.

With the U.S. budget deficit this year running close to the record $413 billion that was set in 2004 and projected to hit a record $486 billion next year, lawmakers are looking to plug holes in the U.S. tax code and generate more revenues.

Dorgan in a statement called the report "a shocking indictment of the current tax system." Levin said it made clear that "too many corporations are using tax trickery to send their profits overseas and avoid paying their fair share in the United States."

The study showed about 28 percent of large foreign corporations, those with more than $250 million in assets, doing business in the United States paid no federal income taxes in 2005 despite $372 billion in gross receipts, the senators said. About 25 percent of the largest U.S. companies paid no federal income taxes in 2005 despite $1.1 trillion in gross sales that year, they said.

 

First, your "study" does not say what you said in the line below.

Second, I guess that means you agree with my other 6 points.

 

This isn't my study. It comes from the GAO. Without quibbling over exact percentages, don't you find the number rather high?

 

You cited it. Therefor it is your study.

Also, what that study translates to is that about 13% of companies don't pay income tax in any given year. That is only a guestimat since they don't give you all the statistics. That is not "the fact that 2/3 of corporations pay exactly zero in taxes." Maybe that means that all of these corporations are not "swimming in profits" as you say.

 

You simply don't know what you're talking about but back the the issue anyway.....

See next post for a real shocking revelation.

 

I wouldn't waste time recalling this guy, I'd run him out of town on a rail.

Wisconsin Gov. Walker Ginned Up Budget Shortfall To Undercut Worker Rights
By Brian Beutler

Wisconsin's new Republican governor has framed his assault on public worker's collective bargaining rights as a needed measure of fiscal austerity during tough times.
The reality is radically different. Unlike true austerity measures -- service rollbacks, furloughs, and other temporary measures that cause pain but save money -- rolling back worker's bargaining rights by itself saves almost nothing on its own. But Walker's doing it anyhow, to knock down a barrier and allow him to cut state employee benefits immediately.

Furthermore, this broadside comes less than a month after the state's fiscal bureau -- the Wisconsin equivalent of the Congressional Budget Office -- concluded that Wisconsin isn't even in need of austerity measures, and could conclude the fiscal year with a surplus. In fact, they say that the current budget shortfall is a direct result of tax cut policies Walker enacted in his first days in office.

"Walker was not forced into a budget repair bill by circumstances beyond his control," says Jack Norman, research director at the Institute for Wisconsin Future -- a public interest think tank. "He wanted a budget repair bill and forced it by pushing through tax cuts... so he could rush through these other changes."

"The state of Wisconsin has not reached the point at which austerity measures are needed," Norman adds

 

I guarantee my math beats you math. That is what the study says when you remove all the liberal mumbo-jumbo.

 

Let me see. Zero facts. Zero references. Nothing but propaganda. I don't even bother reading the right wing propaganda like that.

 

The author of your quoted article, Brian Beutler, is a known liberal who graduated from UC Berkeley. I wouldn't believe a word this guy says if he had the blessing of the Pope.

 

The hypocrisy of the left never ceases to amaze me:

 

Yes of course you two wouldn't believe a credible source but what about Talking Points Memo, The Wisconsin Fiscal Bureau, The Institute For Wisconsin Future Research, Jack Norman, research director at the Institute for Wisconsin Future, The New York Times, The Associated Press, and the Milwaukee Journal Sentinel? Is any source that disagrees with you guys just a Left wing tool? Yeah, I'm sure.

Let me see, should I believe all these sources or you two partisan hacks? Tough call but I think I'll go with the professional sources not the a dim witted frat boy and his sidekick fringe buddy Okie.

In Fact, Walker's Tax Policies Have Reportedly Caused Budget Shortfall

TPM: Wisconsin Fiscal Bureau Says "Current Budget Shortfall Is A Direct Result" Of Walker's Tax Cut Policies. Talking Points Memo reported on February 17 that the Wisconsin Legislative Fiscal Bureau stated that "the current budget shortfall is a direct result of tax cut policies Walker enacted in his first days in office." From TPM:

[T]his broadside comes less than a month after the state's fiscal bureau -- the Wisconsin equivalent of the Congressional Budget Office -- concluded that Wisconsin isn't even in need of austerity measures, and could conclude the fiscal year with a surplus. In fact, they say that the current budget shortfall is a direct result of tax cut policies Walker enacted in his first days in office. [Talking Points Memo, 2/17/11]

Institute For Wisconsin Future Research Director: "Walker Was Not Forced Into A Budget Repair Bill By Circumstances Beyond [His] Control." TPM further reported:

"Walker was not forced into a budget repair bill by circumstances beyond he [sic] control," says Jack Norman, research director at the Institute for Wisconsin Future -- a public interest think tank. "He wanted a budget repair bill and forced it by pushing through tax cuts... so he could rush through these other changes."

"The state of Wisconsin has not reached the point at which austerity measures are needed," Norman adds. [Talking Points Memo, 2/17/11]

WI Fiscal Bureau: "More Than Half" Of The Budget Shortfall A Result Of Walker Initiatives. As TPM reported, the Wisconsin fiscal bureau's report "holds that 'more than half' of the new shortfall comes from three of Walker's initiatives." From TPM:

You can read the fiscal bureaus report here (PDF). It holds that "more than half" of the new shortfall comes from three of Walker's initiatives:

• $25 million for an economic development fund for job creation, which still holds $73 million because of anemic job growth.

• $48 million for private health savings accounts -- a perennial Republican favorite.

• $67 million for a tax incentive plan that benefits employers, but at levels too low to spur hiring.

In essence, public workers are being asked to pick up the tab for this agenda. "The provisions in his bill do two things simultaneously," Norman says. "They remove bargaining rights, and having accomplished that, make changes in the benefit packages." That's how Walker's plan saves money. And when it's all said and done, these workers will have lost their bargaining rights going forward in perpetuity. [Talking Points Memo, 2/17/11, Wisconsin Fiscal Bureaus Report, accessed 2/18/11]

New York Times: Walker "Is Refusing To Accept His Own Share Of Responsibility For The State's Projected $137 Million Shortfall." From a February 17 New York Times editorial:

Benefits for Wisconsin's state workers are currently quite generous, but they weren't stolen. They were negotiated by elected officials and can be re-negotiated at the bargaining table if necessary.

Most pay only 6 percent of their health care premium costs and Governor Walker wants to double that. The average employee contribution to premiums around the country, public and private, is 29 percent. Most state workers contribute almost nothing to their pensions; he wants them to pay 5.8 percent, which is a little less than average for government workers around the country.

Meanwhile, the governor is refusing to accept his own share of responsibility for the state's projected $137 million shortfall. Just last month, he and the Legislature gave away $117 million in tax breaks, mostly for businesses that expand and for private health savings accounts. That was a choice lawmakers made, and had it not been for those decisions and a few others, according to the state's Legislative Fiscal Bureau, the state would have had a surplus. [The New York Times, 2/17/11, Wisconsin State Legislative Fiscal Bureau, accessed 2/18/11]

AP: Wisconsin Faces Shortfall "Due Largely To Anticipated Medicaid Expenses And A Court-Ordered Repayment To A Fund That Was Raided Four Years Ago," And Walker's Tax Policies "Actually Make The State's Ongoing Budget Problem Worse." In a February 1 article, The Associated Press reported that "[a] new analysis released Monday showed that Wisconsin's budget could be between $79 million and $340 million short by June 30 due largely to anticipated Medicaid expenses and a court-ordered repayment to a fund that was raided four years ago." The AP further reported that Walker's tax cuts "actually make the state's ongoing budget problem worse":

In Walker's first month in office he's pushed a number of tax cuts that actually make the state's ongoing budget problem worse. The Fiscal Bureau predicted the state will collect about $190 million less in taxes over the next two years than previously thought, with $117 million of that coming from Walker's tax cuts.

Walker argues the tax cuts will actually spur economic growth by making Wisconsin a more desirable place for businesses to locate. Democratic critics say the potential benefit to the tax breaks isn't significant enough given the cost. [The Associated Press, 2/1/11]

Milwaukee Journal Sentinel Outlines Major Causes Of Wisconsin's Budget Shortfall, Which "Include Two Big Obligations" Unrelated To Unions That Total Almost $260M. In a February 1 article, the Milwaukee Journal Sentinel noted causes of the state's budget shortfall and reported that Walker's tax policies accounted for "more than half" of an anticipated $203 million decline in tax revenues:

[T]he Legislature's budget office reported Monday that the budget shortfall for this fiscal year ending June 30 will total at least $78 million and could rise to as much as $336.5 million, depending on when the state pays up on two massive bills.

"Wisconsin, probably more than any other state in the country, is actively and aggressively moving to get people back to work," Walker said at the bill signing.

The state already faces a more than $3 billion shortfall in the 2011-'13 budget, so approving the tax incentive bills likely means Walker will have to find more spending cuts later.

The report Monday by the Legislative Fiscal Bureau found that over the next three fiscal years, the state will collect $203 million less in taxes than previously estimated. More than half of that drop in expected tax collections is because of tax-cut bills that Walker has signed or is poised to sign.

The report found that the state is projecting that spending on health care for the poor and related administrative costs, prisons and the state public defender's office will go nearly $200 million over budget this year.

In addition, the state has two big obligations looming: a $58.7 million payment to the State of Minnesota after the end of a tax-reciprocity agreement between Wisconsin and its neighbor; as well as an additional $200 million that the state is under court order to return to a medical malpractice fund after an illegal fund transfer in 2007 by lawmakers and Gov. Jim Doyle. The state has to pay all of that money, but not necessarily in this fiscal year. [Milwaukee Journal Sentinel, 2/1/11]

 

Hilter was a Fascist and so is Walker. I understand why a few people make the connection. Walker isn't Hitler but he certainly is in training.

 

You need to go back to elementary school and learn your cyphers. Even Jethro comes closer than you.

I my lowly southern school, I learned that half of 3.6 billion was 1.8 billion. I also learned that 25 + 48 + 67 = 140 million. I also learned that 140 million is not even 5% of 3.6 billion.

Now if you can start citing facts in stead of BS, I might even read something.

 

What is with the protesters making all the "Hitler" connections lately? I was under the impression that they knew they'd lose their argument the very moment they mentioned Hitler.

 

Unions not very popular with poll respondents (from the Huffington Post):

Wisconsin Protests: Polls Find Mixed Results On Public Employee Unions

WASHINGTON - With protests surging in Wisconsin over a law that President Obama described as an "assault on unions," two new surveys show very different impressions of public employee labor unions among Americans. One finds a net positive rating of unions that represent people who work for state or local governments, while the other finds a two-to-one majority expressing opposition to the notion of public employee unions should "bargain for higher pay, benefits and pensions."

 

What I'd like to know is why you assume that they are from the Left? Where is your proof of that assertion?

 

Where did I mention "the left" other than the obvious link above?? You did know that the DNC and Organizing for America are behind the protests...

 

Right there. I don't see anything that says "Left".