|
|
|
Dave W.
Info Junkie
USA
26022 Posts |
 Posted - 02/03/2003 : 20:15:56 [Permalink]
|
@tomic wrote:quote:
A little subtraction like that for a corporation is laughable.
So who wrote that if personal income taxes are changed over to nearly flat rate, as Mrs. TD suggested, so must corporate taxes be changed?
How would a corporate income tax work best? How about (gross income) minus (total benefits and wages given to lowest-paid 90% of employees) times (some percentage)? That way, not only are the top executives taxed on their personal incomes, but the company is taxed to offer 'em really extreme packages.
|
- Dave W. (Private Msg, EMail)
Evidently, I rock!
Why not question something for a change?
Visit Dave's Psoriasis Info, too. |
 |
|
|
Tokyodreamer
SFN Regular
USA
1447 Posts |
Posted - 02/04/2003 : 07:33:01 [Permalink]
|
quote:
Originally posted by @tomic
A little subtraction like that for a corporation is laughable.
Who's talking about corporate taxes? |
|
|
|
Tokyodreamer
SFN Regular
USA
1447 Posts |
Posted - 02/04/2003 : 07:34:55 [Permalink]
|
quote:
Originally posted by Dave W.
Mrs. TD
/raises hand
Male here!
 |
|
|
|
Valiant Dancer
Forum Goalie
USA
4826 Posts |
Posted - 02/04/2003 : 07:53:00 [Permalink]
|
quote:
Originally posted by Tokyodreamer
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Dave W.
Mrs. TD
/raises hand
Male here!
[/quote]
I believe he was referring to the plan your wife suggested, TD. |
Cthulhu/Asmodeus when you're tired of voting for the lesser of two evils
Brother Cutlass of Reasoned Discussion |
|
|
|
Dave W.
Info Junkie
USA
26022 Posts |
|
|
Tokyodreamer
SFN Regular
USA
1447 Posts |
Posted - 02/04/2003 : 11:39:05 [Permalink]
|
| Oops, duh... |
|
|
|
Tokyodreamer
SFN Regular
USA
1447 Posts |
Posted - 02/04/2003 : 11:55:33 [Permalink]
|
In 1997, Michael Eisner (CEO of Disney) received a total income of over $10,000,000. His base salary was $750,000, and he got about a $9,900,000 bonus.
In December of that year, he exercised $570,000,000 in stock options. (My understanding is that when you "exercise" stock options, you must pay back the original stock price. I don't know if this figure is before or after payback, but for sake of example, let's say it was [after].)
This means he would have paid approximately $116,200,000 in income tax using my simplified tax form.
I highly doubt he paid anywhere near that much, because of the myriad loopholes and tax rules.
Can anyone really argue that $116,200,000 is not enough for one person to pay in annual income tax?!
The average CEO yearly income in around 1998 was $5,800,000. This means under my tax plan, their average income tax would be $1,160,000.
Does anyone think they pay anywhere near that now? I would be very surprised if they did [pay that much]. |
| Edited by - Tokyodreamer on 02/04/2003 11:58:20 |
|
|
|
Dave W.
Info Junkie
USA
26022 Posts |
Posted - 02/04/2003 : 12:15:46 [Permalink]
|
Tokyodreamer wrote:quote:
Can anyone really argue that $116,200,000 is not enough for one person to pay in annual income tax?!
Perhaps the British Government? When the Beatles wrote "Tax Man," they were in the 95% tax bracket. And don't forget The Straight Dope. |
- Dave W. (Private Msg, EMail)
Evidently, I rock!
Why not question something for a change?
Visit Dave's Psoriasis Info, too. |
|
|
|
@tomic
Administrator
USA
4607 Posts |
Posted - 02/04/2003 : 13:23:23 [Permalink]
|
quote:
Can anyone really argue that $116,200,000 is not enough for one person to pay in annual income tax?!
Easily. If someone made that much, or far more than that much, because the paid their employees far below what they needed to live on and had the other taxpayers take up the slack I could see someone needing to pay far in excess of the figure you gave TD. The figure you gave mught be a paltry sum compared to what they stuck the rest of the taxpayers with. So they fleeced the people out of more than $300 million. Hurray for them.
@tomic |
Gravity, not just a good idea...it's the law!
Sportsbettingacumen.com: The science of sports betting |
|
|
|
Tokyodreamer
SFN Regular
USA
1447 Posts |
Posted - 02/04/2003 : 14:10:43 [Permalink]
|
The words "epitome" and "cynicism" come to mind...
|
|
|
|
Snake
SFN Addict
USA
2511 Posts |
Posted - 02/04/2003 : 23:27:38 [Permalink]
|
quote:
Originally posted by Tokyodreamer
Oops, duh...
That's ok TD, people are always missunderstanding my gender and no one ever understands. At least yours was not that kind of error. |
|
|
|
Snake
SFN Addict
USA
2511 Posts |
Posted - 02/04/2003 : 23:37:28 [Permalink]
|
quote:
Originally posted by @tomic
quote:
Can anyone really argue that $116,200,000 is not enough for one person to pay in annual income tax?!
Easily. If someone made that much, or far more than that much, because the paid their employees far below what they needed to live on and had the other taxpayers take up the slack I could see someone needing to pay far in excess of the figure you gave TD.
And you know this how, @ ? I would bet that many of the employes have stock in the company too, if they are like most big companies. How do you know they don't pay a 'living wage'?
Disney was one of the 1st companies to offer benifits to domestic partners*. Something still a lot of places won't do.
(*ironicly, because they were very conservitive and one time were sued for not letting in a gay couple to Disneyland)
So why don't you think about the good they are doing too. |
|
|
 |
|
Topic Locked
