Daily Topics - Tuesday April 25th, 2017

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Coming up today on The Thom Hartmann Program - Your Home for the Resistance:

- Climate of Hope - Carl Pope, Sierra Club/Climate of Hope (w/Mike Bloomberg)

- Kentucky Floats Dental, Vision "Rewards" Program in Medicaid Overhaul...Look Out! Neil McCabe, Breitbart News

- Great Barrier Reef..."Terminal Stage" of Climate Change Cancer - Dahr Jamail, Truthout

...LIVE from Washington, DC starting at 12pm Eastern...

Comments

WakeUpAmerica 5 years 8 weeks ago
#1

Tom, you are an extremely positive force, except when you get complex tax information from people like Marshall today, who feeds you bad information. Let me set you straight so you do not blow your credibility with his advice:

1, Higher tax rates give corporations and employers incentives to hire and pay employees, because they get a better tax deduction. Lower corporate rates gives corporations incentives to buy back stock, pay dividends and cut employee costs.

2. Income retained by a corporation, after paying the corporate tax (whether an LLC taxable as a corporation), is subject to a 2nd tax if it is distributed as a dividend, or compensation benefit to the shareholder/employee, who pays dividend taxes at a 25% rate, and who pays income taxes at close to the 40% rate. Hence the combined rates of 15+25=40%, or 15+40=55% are the effective rates, so the savings you and Marshall are touting is non existent, unless the corporation engages in stock buy backs.

I also recall your mis-analysis of payroll taxes for SS, which typically caps out at $100k of income because it is supposed to be insurance, and not a general tax. The benefits are capped, so the insurance premium is also capped against gross income. This is not to say that the cap of $100k is too small, and SS should be taxed against higher income individuals, but that changes its feature from "insurance", or pay for what you buy, vs. a general tax that is not related to the benefits you are paying for.

These distinctions are important when you make your arguments, as if you confuse the matter, you lose credibility, and Marshall Steinbaum provide no clear and understandable facts over what he was telling you, telling you only what he thought you wanted to hear, and that is Trump World and just as dangerous as you are one of the best things to happen to Radio and Free Speech TV.

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