Quote:
Originally Posted by Saltheart
One thing I forgot. I really hate this percent business. Obama keeps saying Romney only paid 14% while lower income people paid more in taxes. Well this percent bull is a classic sales tool. Fact is , Romney paid more dollars (forget percent) that Obama's total income. You don't pay taxes with percent certificates. You have to write a check in dollars.
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I am sorry to disagree. If I get a dollar in interest on my lousy money market account that is paying next to nothing and pay federal tax of 30 cents, I am not happy if the CEO of WC Bradley is paying 15 cents on each dollar of dividends he gets from the 5,000,000 shares he got when he exercised his stock options that he paid for with the sales proceeds of a portion of the option shares. So percents matter to me.
If I have a house in Westerly that is taxed at 11 cents per thousand of assessed value, I will be very unhappy if they decide that the CEO with a mansion in Watch Hill is taxed at 3 cents per thousand- even if that guy pays a lot more in real estate taxes on his $8,000,000 cottage than me.
I am also not happy that last year Exxon paid 2% of its 73 billion in profits to the USA. 2% is 1.46 billion which is a lot- but 2% is not a good percentage. Exxon paid more than 10 times that in taxes to foreign countries. How is that possible?
The whole tax system absolutely sucks. We need a flat tax on everyone.
I agree with you guys on lots of items but as you can see, I am not a fan of fortune 500 companies. I think that they sit on hordes of billions in cash, realize that hiring humans will not help them meet their earnings targets, but laying off 1,000's of workers, merging, outsourcing to Pah-Ke-Stan and installing robots will help meet earnings targets, The CEO's get stock options and tax breaks you and I don't see. If the stock price falls below the option exercise price, they reissue the options at a lower price. The stock price is their God and they treat hard working people like crap.
But like women, I suppose you can't live with them but you can't live without them.