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Topic: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes

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medinabuckeye1

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46592 on: July 08, 2025, 05:31:31 PM »
Any steps towards making the quality of tax attorney irrelevant would be a good start.  Simple, specific tax language with no wiggle room or space for bullshit would be nice.
Now you sound like a Steve Forbes Republican, remember his flat tax.  

FWIW, I agree with this.  Giving Congress the ability to dramatically impact incomes with various deductions only encourages graft.  The "Egg Lobby" can spend and get tax breaks for chicken farmers and so on.  A flatter, simpler tax would involve less of that nonsense.  

FearlessF

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46593 on: July 08, 2025, 05:49:01 PM »
a flatter simpler tax like a large sales tax

buy a fancy automobile, a big ass boat, a huge house on 45 acres, a steak dinner & drinks at the most fancy place in the city, tickets to the symphony or the opera
heck, buy a $9000 humidor and fill it with $40 cigars, or fill your wine cellar with the good stuff

Pay the tax
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

bayareabadger

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46594 on: July 08, 2025, 05:49:31 PM »
They're the same.  They're the same pill.
Dick pills?

Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46595 on: July 08, 2025, 07:05:38 PM »
A flat tax of course would be viewed as regressive, and labeled as such.  It might encourage the black economy if set too high.  But, I'm for tax simplification.  You get a standard deduction, OK if you like that, and done.  Remember the furor over the SALT deductions?  How about tax credits for buying the right sort of car?  Then you get into the corporate tax world and it gets insane, I know our company had a huge tax department looking for deductions.  This is very inefficient obviously, you have bean counters trying to avoid taxes.  It's not productive in a general sense.

FearlessF

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46596 on: July 08, 2025, 07:14:36 PM »
and politicians don't want to address it or clean it up
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46597 on: July 08, 2025, 07:24:45 PM »
I don't see a practicable solution to our debt problem.  My best hope is debt as a percentage of GDP can stop rising, and perhaps decline slowly over time.  And that's a slight hope.  If we hit a recession, all bets are off clearly, that is one thing that quite obviously tanks receipts and tends to send spending higher.  The US used to have a recession about every ten years, we have not had one now in 15, aside from COVID.

I'm willing to consider a "billionaire tax", not that my vote counts, if the details were more, um, detailed.  My guess is the paperwork involved would offset any revenue gained.  Think of how many folks would now need to file some kind of accounting for their net worth, not just billionaires, but everyone.  You'd have to prove you are not one, ostensible, somehow.  It would be good for the art market and probably precious metals and other collectibles.

FearlessF

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46598 on: July 08, 2025, 07:55:42 PM »
“Today we tell China to get the hell out of American agriculture,” Sen. Roger Marshall of Kansas said.

Leaders from Nebraska and Kansas joined the Trump administration to announce a new plan to secure American farms from foreign threats.

Marshall reiterated his position, “Do not pass go, get the hell out of American agriculture and the Trump administration is going to lead the way.”

Ag Secretary Brooke Rollins leads the charge on the new effort dubbed the National Farm Security Action Plan, with a goal of banning adversaries from buying farm ground.

“Actively engaging at every level of government to take swift legislative and executive action to ban the purchase of American farmland by Chinese nationals and foreign adversaries,” Rollins said during a press conference.

It follows action in states like Nebraska, as Gov. Jim Pillen joined the event.

“What on earth is going on with China?”

Pillen, a hog farmer, said he grew concerned with China as a threat and in 2024 he signed legislation placing new limits on foreign ownership of Nebraska land.

He joined multiple cabinet officials including Defense Secretary Pete Hegseth, Homeland Security Secretary Kristi Noem, and Attorney General Pam Bondi.

Peter Navarro, a key presidential economic advisor, raised concerns about foreign ownership of key ag companies.

“The Chinese bought Smithfield Foods and basically control an eighth of the world pork supply now. We’ve had food inflation. That can be part of that. And the other key purchase we allowed was Syngenta. What is that? It’s a seed company,” he said.

Syngenta is headquartered in Switzerland, a multinational company that had bought out assets around the world before being acquired by a Chinese chemical company. Syngenta not only supplies Nebraska farmers but has multiple facilities in the state.

Now Governor Pillen says that’s changing.

“Syngenta called me, wanted to come to the capitol and have a meeting. I said I have no interest in having a meeting, have no interest in you being in Nebraska. My suggestion would be to leave, to get a different job. I’m really proud to announce that Syngenta has sold their business in Nebraska to a family owned genetic company in the US so we’re excited about that,” Pillen said.

Syngenta announced last week it was selling its Hamilton County seed corn plant to Midwest based Beck’s Hybrids. Scott Beck recently told us Nebraska is one of the fastest growing markets, as the family owned company has multiple facilities in Seward County.

Hamilton County Commission Chair Rich Nelson told the Rural Radio Network that Beck’s has signs everywhere and has made a big push in the area. Still, Nelson said commissioners were surprised to learn Beck’s was buying the Syngenta plant near Aurora but he said they have no information that Governor Pillen leveraged the China connection to bring about a sale.

In addition, Syngenta operates a Waterloo seeds facility and a crop protection facility in Omaha.

American agriculture relies on many multinational companies like Bayer and JBS. Both of those are from countries deemed friendly and now the ag secretary is joining CFIUS, the government panel that determines which countries are threats.

“If nothing else happened today having Brooke Rollins on that board, that’s a big deal,” Peter Navarro said.

Rollins did not outline specifics for how the administration will deal with Chinese companies.

“We are looking at every available option, there are multiple options, you’ll likely see an executive order soon from the white house with multiple authorities to begin to claw that back,” she said.

In addition to ownership of farm ground, Rollins said USDA is concerned about enemies infiltrating American ag research facilities to steal technology or launch cyberattacks.

She said the USDA will cancel agreements with countries of concern and said the country is removing 70 citizens from countries of concern who are working in research or under contracts with the USDA.

As the Trump administration sharpens its focus on securing American farmland, the message is clear: foreign adversaries are no longer welcome but it’s not clear how exactly they plan to deal with that.

The National Farm Security Action Plan takes action across seven areas, as outlined by USDA:

Secure and Protect American Farmland – Address U.S. foreign farmland ownership from adversaries head on. Total transparency. Tougher penalties.
Enhance Agricultural Supply Chain Resilience – Refocus domestic investment into key manufacturing sectors and identify non-adversarial partners to work with when domestic production is not available. Plan for contingencies.
Protect U.S. Nutrition Safety Net from Fraud and Foreign Exploitation – Billions have been stolen by foreign crime rings. That ends now.
Defend Agricultural Research and Innovation – No more sweetheart deals or secret pacts with hostile nations. American ideas stay in America.
Put America First in Every USDA Program – From farm loans to food safety, every program will reflect the America First agenda.
Safeguard Plant and Animal Health – Crack down on bio-threats before they ever reach our soil.
Protect Critical Infrastructure – Farms, food, and supply chains are national security assets—and will be treated as such.
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

utee94

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46599 on: July 08, 2025, 08:36:28 PM »
A flat tax of course would be viewed as regressive, and labeled as such.  It might encourage the black economy if set too high.  But, I'm for tax simplification.  You get a standard deduction, OK if you like that, and done.  Remember the furor over the SALT deductions?  How about tax credits for buying the right sort of car?  Then you get into the corporate tax world and it gets insane, I know our company had a huge tax department looking for deductions.  This is very inefficient obviously, you have bean counters trying to avoid taxes.  It's not productive in a general sense.
Well, it's productive for the professional careers of bean counters...

FearlessF

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46600 on: July 08, 2025, 09:01:57 PM »
I'm all for fewer bean counters and fewer lawyers
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

longhorn320

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46601 on: July 08, 2025, 09:15:44 PM »
I'm all for fewer bean counters and fewer lawyers
Hey watch it

some of us been counters are really nice guys
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

FearlessF

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46602 on: July 08, 2025, 10:07:42 PM »
I just said, fewer
I'm all for keeping the nice ones
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46603 on: July 09, 2025, 07:16:23 AM »
I can't really envision a simple tax code for corporations.

FearlessF

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46604 on: July 09, 2025, 07:34:43 AM »
because they like their write offs and deductions and such?
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Cincydawg

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Re: OT-Politics Thread: please TRY to keep it civil, you damned dirty apes
« Reply #46605 on: July 09, 2025, 07:41:21 AM »
I'm sure they like write offs, but many kinds strike me as inherent and necessary, not all, but many.

Corporations often spend money in hopes of making more money later, capital improvements, hiring, etc.  Is that kind of thing an expense or what?  A for profit company has EBITA (earnings before income tax) and then after tax earnings, which generally differ by a factor of 2 or more.  Currently, if they build a new factory they can write off the entire expense.  In the past, that write off has been amortized over several years.

Then there is the "R&D tax credit", which gets gamed in the US, but at least supports companies doing "R&D", which the government views as a good thing.  Then there are SALT for corporations which are treated as expenses.  The list is longer than I have any idea about.

I think any sudden change would cause disruptions, maybe it would end being OK, I don't know, it's beyond my PG.

 

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