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Archive for Tuesday, October 16, 2012

Letter: Tax benefits

October 16, 2012

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To the editor:

Gov. Brownback’s tax plan eliminates state income tax for nonsalary income derived from small businesses: LLCs, Subchapter S and sole proprietorships. Employees will continue to pay taxes while profits going to owners will not be taxed. The effect will be apparent in early 2013 as owners start reducing their estimated Kansas income tax.

At a small business seminar sponsored by Kansas University, I learned that the best way to organize a “mom and pop” business is the Limited Liability Corporation or LLC. Here are some of the “small businesses” that could benefit from the governor’s tax law: Koch Alaska Pipeline Co., LLC; Koch Chemical Technology Group, LLC; Koch Minerals, LLC; Koch Carbon, LLC; Koch Exploration Company, LLC; Koch Fertilizer, LLC; Flint Hills Resources, LLC (a Koch subsidiary); Genesis Co., LLC (a Koch subsidiary); Georgia-Pacific, LLC (purchased by the Kochs in 2005 for $21 billion)

What more can I say?

Comments

SageonPage 1 year, 6 months ago

ROMNEY 50% B.O. 46% AMONG LIKELY VOTERS!! READ IT AND WEEP LIBS!
WELCOME PRESIDENT ROMNEY

http://www.gallup.com/poll/15808/romney-obama-among-likely-voters

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Richard Heckler 1 year, 6 months ago

The most practical means to achieve efficient spending and taxation is to remove the republican party from office forever and bring in fiscal conservatives.

What we have now is reckless spending conservatives not the fiscal conservative giants of our time.

For example.

Worker's taxes siphoned off by their bosses Thursday, April 26, 2012 | Posted by Jim Hightower

Where is the $47 million tax dollars that belong to Kansas taxpayers?

My congratulations to workers in 16 states – from Maine to Georgia, New Jersey to Colorado! Many of you will be thrilled to know that the income taxes deducted from your paychecks each month are going to a very worthy cause: your corporate boss.

Good Jobs First, a non-profit, non-partisan research center, has analyzed state programs meant to create jobs, but instead have created some $700 million a year in corporate welfare. This scam starts with the normal practice of corporations withholding from each employee's monthly check the state income taxes their workers owe.

But rather than remitting this money to pay for state services, these 16 states simply allow the corporations to keep the tax payments for themselves! Adding to the funkiness of taxation-by-corporation, the bosses don't even have to tell workers that the company is siphoning off their state taxes for its own fun and profit.

These heists are rationalized in the name of "job creation," but that's a hoax, too. They're really just bribes the states pay to get corporations to move existing jobs from one state to another, or they're hostage payments to corporations that demand the public's money – or else they'll move their jobs out of state.

Last year, Kansas used workers' withholding taxes to bribe AMC Entertainment with a $47 million payment to move its headquarters from downtown Kansas City, Missouri, to a KC suburb on the Kansas side, just 10 miles away. What a ripoff! Among the 2,700 corporations cashing in on such absurd diversions of state taxes from public need to private greed are Goldman Sachs, GE, Motorola, and Procter & Gamble.

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Richard Heckler 1 year, 6 months ago

If those tax cuts are so damn productive why does everyone not get the same tax break?

Why do we all not have access to loopholes? No matter how much we make.

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Getaroom 1 year, 6 months ago

And the Robber Barons just keep the good times rollin' don't they. The Corporatocracy marches ever onward unfettered and undaunted. And you, you 47%'ers should just be glad you have those minimum wage jobs now get back to work and make 'em some money!
Here is a link to the Romney/Ryan Budget: http://www.romneytaxplan.com/ Dodge ball anyone....

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Cant_have_it_both_ways 1 year, 6 months ago

I have never been offered a job worth having by someone that has no money.

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JackMcKee 1 year, 6 months ago

this is what they want to do at a national level. Why do you think they invented the Tea Parfy?

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Constitutional_Malfeasance 1 year, 6 months ago

"What more can I say?" Nothing, hopefully. My, my how so many have bought into Obama's class warfare rhetoric.

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notajayhawk 1 year, 6 months ago

"What more can I say?"

For a start, you might have mentioned that the income you're talking about is already taxed at a higher tax rate than other businesses by the federal government, since it's taxed as personal income rather than corporate.

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jhawkinsf 1 year, 6 months ago

We're talking about a small group of of taxpayers who will no longer have to pay one specific tax, yet will be obligated to pay a variety of other taxes, making their contribution to society. Isn't that the same argument used when we discuss the 47%, you know, those who don't pay a specific tax (Federal Income Tax), yet contribute in other ways through other taxes?

While I'm not in favor of this new scheme by Brownback, I'm also not in favor of anyone paying zero Federal Income Tax. But I am curious as to how progressives are suddenly using the same argument that conservatives make and conservatives are countering by using the same argument as progressives.

What am I missing, other than the argument of "fair", that ever elusive concept that cannot ever be agreed upon?

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atiopatioo 1 year, 6 months ago

People get to keep the money they earn. What is the matter with that? Why are there so many Americans that want the the government to take money that other people earn?

Greedy Takers using the angry power and might of the government to bully people out of their money is bigoted and socially unfair.

What more can I say?

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SageonPage 1 year, 6 months ago

Good for that group of small businesses! I applaud those with a sharp mind who can create a thriving business and not waste their lives on asking people to honk for hemp. AS for Joe Douglas, get off your behind and away from your computer and start your own small business.

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anotherview 1 year, 6 months ago

Thank you Mr. Douglas. Now we know why Brownback pushed this change in income taxes. It's all about the Koch family. Now the governor wants to raise sales tax on everyone else. He's not interestred in lowering taxes. He just wants to switch the taxes to a different group of taxpayers.

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