Top 1 Percent Of Americans Owns 40 Percent Of The Nation’s Wealth This Needs To Change (ethic, suspect)
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It does not include the 1%, because the definition of small business owner has been redefined in the past few years, a multi-million dollar company can now be called, a small business, even though it really is not.
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The legal definition of "small business" varies by country and by industry. In the United States the Small Business Administration establishes small business size standards on an industry-by-industry basis, but generally specifies a small business as having fewer than 250 employees for manufacturing businesses and less than $7 million in annual receipts for most non manufacturing businesses.[2] The definition can vary by circumstance – for example, a small business having fewer than 25 full-time equivalent employees with average annual wages below $50,000 qualifies for a tax credit under the health care reform bill Patient Protection and Affordable Care Act.[3]
"Annual receipts" isn't annual profit.
IRS definition: "Gross receipts are the total amounts the organization received from all sources during its annual accounting period, without subtracting any costs or expenses." Gross Receipts Defined
You know, costs and expenses like employees' salaries and benefits, etc....
Another poster claimed that the complaint is really against only...
Quote:
Originally Posted by oberon_1
...people who grab 20, 30, $50M in one transaction.
Given the fact that even the top 0.1% income begins at $1.63M, those earning tens and even hundreds of millions dollars is a much smaller group than even the top 0.1%. Latest IRS Federal Income Tax Data
The OP attack on hard-working Americans is what happens when liberals are undereducated and uninformed.
What's "moral" about living off of the fruits of someone else's labor, taken forcefully from them by threat of imprisonment? That's called slavery.
I've figured it out that bUU's posts don't have to have any value.
I think it's just an addiction of some kind that he needs a daily fix of using the words 'moral' and 'vacuous'.
Twice in one post up there ^^^ Does that mean he can't be here tomorrow or a double treat for Sunday?
LOL... That's what I've been trying to tell you all. Divorce the government's dependence on the top 1% for a grossly disproportionate percentage of the tax revenue, and you REMOVE the government's incentive to keep the top 1% as rich as possible.
Like I said, politicians certainly aren't enriching the top 1% for the votes. A person earning $1,000,000 nets 1 vote, while 50 people earning $20,000 each nets 50 votes. They're doing it for the revenue. Eliminate the incentive for the government to help the rich get richer.
You are leaving out all the revolving doors and the shares directly purchased by govt of publicly traded corps. The more those public corps make the more the govt does. Govt has vast investment funds. Most of these proceeds are held off budget. That is where the action is, not taxes. Your focus is on taxes.
Changing the tax distribution is not going to fix the system. They sent the jobs overseas to fatten the funds. Reforming the accounting practices will make a much bigger difference, but even that will not fix a broken system.
Bankers, Wall Street and Govt go way back. The only difference now is it is more visible and on steroids.
As long as you have a corporate hierarchy you are going to have those at the top work together and profit.
Any particular reason the CBO doesn't list any supposed realized gain as federal revenue in any substantial amount?
Why not? Again, the CBO lists NO substantive gains from any such "funds" in its accounting of federal revenue.
I told you earlier go look at (city, county and state) CAFRs and particularly commingled funds. Then read accounting rules. The accounting is what determines what can be done and shows a much clearer picture. This isn't just about the federal govt.
Not budget reports. Do you go look at budget reports of a business? NO That is why it is all budget, budget this and that.
I just told you proceeds largely are off budget. It is easier to see this in CAFRs. We are talking about a vast system. That is one way they keep people in the dark. One method they use to make their accounting look even better is to deduct future liability payments years down the road against current revenues.
If you want to know what is going on you need to go look at the actual accounting and study the creative accounting rules. Budgets are not going to show that to you.
Here this can get you started. You have to spend the time to see what is happening. CAFR | Examiner.com
I told you earlier go look at (city, county and state) CAFRs and particularly commingled funds.
Go look at the thread title. We're talking about the NATION. The federal government.
FWIW, state and local taxes are somewhat less progressive than federal taxes and that's a GOOD thing. MORE people have a direct financial stake in the issues.
Go look at the thread title. We're talking about the NATION. The federal government.
FWIW, state and local taxes are somewhat less progressive than federal taxes and that's a GOOD thing. MORE people have a direct financial stake in the issues.
The nation is NOT the federal govt. Though I am not excluding them. I am just telling you that you are missing what is going on due to your perspective.
Again you focus on taxes. Go see what is being done with the taxes. I have told you where to start and gave links. You either want to know or you don't.
Does that mean I don't have to pay my federal income taxes? Good to know!
DC is the main corp, the rest are basically subsidiaries. You have to look at the entire financial and accounting system. To go to one office and look at a budget report isn't going to do it.
Your bold statement has nothing to do with anything I have stated.
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