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PumpkinAle

(1,210 posts) Mon Apr 28, 2014, 07:48 PM Apr 2014

One Chart That Shows Just How Screwed Up Our Tax System Really Is

http://www.policymic.com/articles/87823/one-chart-that-shows-just-how-screwed-up-our-tax-system-really-is

5 replies

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One Chart That Shows Just How Screwed Up Our Tax System Really Is (Original Post) PumpkinAle Apr 2014 OP

thanks surrealAmerican Apr 2014 #1

That is an awesome chart of a horrible situation. Squinch Apr 2014 #2

The way to look at that chart is "Return on Investment" Kelvin Mace Apr 2014 #3

Speech that is one Bortman33 Apr 2014 #4

more of a table than a chart hfojvt Apr 2014 #5

surrealAmerican

(11,624 posts)

1. thanks

Reply to PumpkinAle (Original post)

Mon Apr 28, 2014, 07:55 PM

Apr 2014

great chart!

Squinch

(55,693 posts)

2. That is an awesome chart of a horrible situation.

Reply to PumpkinAle (Original post)

Mon Apr 28, 2014, 07:56 PM

Apr 2014

Kelvin Mace

(17,469 posts)

3. The way to look at that chart is "Return on Investment"

Reply to PumpkinAle (Original post)

Mon Apr 28, 2014, 07:59 PM

Apr 2014

GE invested $129.6 million in buying congress, and got back $23.55 for each dollar invested.

PG&E - $14.06 per dollar invested
Verizon - $6.42 per dollar invested
Duke Energy - $9.63 per dollar invested

I really wish I could get in on these deals with my IRA.

Bortman33

(102 posts)

4. Speech that is one

Reply to PumpkinAle (Original post)

Mon Apr 28, 2014, 08:17 PM

Apr 2014

Sided is nothing more then a propagandist diatribe. Free speech would be a conversation where any cwhorepRATe monies spent to propagate a position, by law, should be required to equally fund opposing views, after all, any cwhorepoRATe entity serves people who hold differing views from cwhoreoRATion.

hfojvt

(37,573 posts)

5. more of a table than a chart

Reply to PumpkinAle (Original post)

Mon Apr 28, 2014, 08:20 PM

Apr 2014

you expect people to read numbers instead of looking at a graph?

It's actually pretty small potatoes though as far as "the tax system"

I mean $27 billion is a lot of profit for four years, but the personal income tax takes in about $1,000 billion every year.

In fact, just because that is the kind of guy I am, let me look up actual figures (numbers in billions)

2008 - 1,145.7
2009 - 915.3
2010 - 898.5
2011 (estimate) - 956

Figure that 2012 is another 900 billion.

Total for 2008-2012
$4,815.5

Now total profit of those 25 companies for 2008-2012 = $165.67 billion
total subsidy of those 25 for 2008-2012 = $8.6 billion.

Let's eliminate the subsidies and tax the profit at 50%.

Total gain of revenue = $91.4 billion.

A lot of money, no doubt, but as a percentage of personal income tax revenue for 2008-2012 it equals just 1.9%.

Not really a significant part of "our tax system".

Now our corporation taxes did bring in a total of

2008 - 304.3
2009 - 138.2
2010 - 191.4
2011 - 198.4 (estimate)

estimate $180 for 2012, and our corporate tax system, for all its flaws, brought in $1,011.6 billion from 2008-2012.

It would be nice to have more complete statistics, like I do with the personal income tax, but this table DOES show why I, myself, do not freak out when Obama proposes, for the corporate tax system - to close loopholes AND lower rates.

Sheesh am I long-winded. Is anybody still reading?

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