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[Gizmodo] Starbucks, Amazon and Google’s Tax-Dodging “An Insult” to the UK - Page 4

post #31 of 59
Quote:
Originally Posted by Senator View Post

Huh? People who make over a million a year are taxed at less than 20%? proof.gif Because that isn't how the Tax code reads. Ergo i'm inclined to call BS. The marginal tax rate on the highest income earners in 35%. Now they might have a lower total effective tax rate for a variety of reasons, but even so the average total rate is near 30%, not what you're claiming.
A flat tax would not by necessity raise anyone's rates. It would need to be calibrated to ensure a neutral revenue after accounting for inflation, but I don't honestly know what the number would be. Do you?
Regardless, you make my point. Current tax codes allow one person to pay one rate, while your neighbor can pay a different one. Google pulls a double irish, and small businesses close shop.

because income over a certain level is not taxed. hence, if you get payed $100 million a year, you only get taxed on the first $1m or so
post #32 of 59
Quote:
Originally Posted by Senator View Post

Simpler fix: Flat tax.

No. A good and proper tax system should try to tax according to benefit. And when I say "benefit" I mean direct and indirect benefit. The tax code does need to be reformed, but a flat-tax is far too simplistic a system. IMO you need:

A marginal and progressive income tax
Simple use taxes that more accurately reflect use. (I've always thought a yearly tax based on curb weight divided by wheelToRoadSurfaceArea and multiplied by miles driven was for more accurate and fair than gas taxes and toll booths)
An Estate Tax of some sort.
A diminishing capital gains tax (The longer you hold a stock, the less you're taxed)
and a VAT system that kicks in during times of large growth in GDP.

Close loopholes like the myriad of deductions that really don't help the economy, but are nevertheless popular.
Slash Corporate Tax rates, and cut spending across the board.
Edited by videoman5 - 12/5/12 at 11:43am
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post #33 of 59
I have no problem with this. Fix the tax and patent system. Plain and simple. This has been an issue for a while.
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post #34 of 59
Quote:
Originally Posted by BulletSponge View Post

I'd prefer a "consumption" tax. It would encourage saving on a consumer level and would tax all equally including those who make their living off of a government handout.

except for the fact they aren't forced to do this (Neocons and neoliberals keep repeating it anyways)
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post #35 of 59
Quote:
Originally Posted by duox View Post

If amazon suddenly has to pay more taxes , amazon prime , 2 day shipping price increases, etc. would likely follow. In the end like others have said , the cost will be passed down to the consumer.

not if they don't wanna lose customers
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post #36 of 59
Quote:
Originally Posted by Z Overlord View Post

not if they don't wanna lose customers

Lose customers to? Another business? No, this is implemented across the board. To no one, and they sit on their money instead? Well, that's exactly what we need. Reductions in sales and public consumption. rolleyes.gif
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post #37 of 59
Nothing more American than dodging UK taxes...
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post #38 of 59
Quote:
Originally Posted by Mootsfox View Post

Nothing more American than dodging UK taxes...

I know how that goes. On rare occasions I might buy something from the UK, it's a silly amount of difference between the VAT included price and the VAT excluded price.
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post #39 of 59
Quote:
Originally Posted by Senator View Post

Simpler fix: Flat tax.

Flat taxes are naturally regressive and widen the already enormousness wealth gaps between the rich and poor. If people thought the budget cuts to various government services (such as education) were bad now...
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post #40 of 59
Quote:
Originally Posted by duox View Post

If amazon suddenly has to pay more taxes , amazon prime , 2 day shipping price increases, etc. would likely follow. In the end like others have said , the cost will be passed down to the consumer.

I already felt the pain paying taxes to Amazon (live in CA) this past month. I could have saved way more if it wasn't for the darn taxes and recycle fee or whatever is called for things that have a screen.
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