Showing posts with label 2008 U.S. Presidential Elections. Show all posts
Showing posts with label 2008 U.S. Presidential Elections. Show all posts

Thursday, June 12, 2008

Terms of Understanding for this Election Cycle

Words for the Day--provided mostly by
These terms are necessary to know if you plan on listening to presidential speeches--especially those of you who vote or declare yourselves Republican.

One would gather true Republicans would have these terms down pat already but there are segments of the American population that will declare themselves Republican for reasons that are unclear to me. Some of those people--I know--don't quite understand what all the flap is about over taxes and taxation.
Republicans won't bother to explain these terms to you. Anyone making more money that you won't explain these terms either so don't look for organized news groups to tell you. (They make wayyyyy more than you)

Capital Gains, Dividend, and Corporate Taxes, etc.

Capital Gains Tax: is a tax you pay on gains arising on the disposal of assets. Any form of property including an interest in property (eg a lease) is an asset for CGT purposes.

Dividend Tax:
is an income tax on dividend payments to the stockholders (shareholders) of a company.Some jurisdictions apply a withholding tax to ensure collection of the dividend tax.

Explanation of the argument:
Those who want to get rid of the tax argue that a dividend tax amounts to unfair "double taxation", in the sense that the company has already paid a corporation tax on these profits, which means that the shareholders, as part owners, have likewise been taxed already.
Those who want to keep the dividend tax as it is, claim it is unfair to tax income generated through active work at a higher rate than income generated through less active means or that companies may not have paid their full share of income tax.
Their argument is that such a taxation can help the wealthiest of individuals who can afford to buy large quantities of stock as they could feasibly live off the dividend payments without any income tax on their earnings.

Corporate tax (varies)
Corporate tax refers to a tax levied by various jurisdictions on the profits made by companies or associations.Corporate tax in the United States is a tax on the taxable income of a C corporation or an entity taxed as a C corporation. The corporate tax is the default tax levied on a business entity unless the entity qualifies to be taxed under different tax rules such as those for non-profit organizations and S corporations. See table

An excess profits tax:
is a tax on any profit above a certain amount. A predominantly wartime fiscal instrument, the tax was designed primarily to capture wartime profits that exceeded normal peacetime profits.[citation needed] In 1863 the Confederate congress and the state of Georgia experimented with excess profits taxes. The first effective national excess profits tax was enacted in 1917, with rates graduated from 20 to 60 percent on the profits of all businesses in excess of prewar earnings but not less than 7 percent or more than 9 percent of invested capital.

Terms heard in Democratic speeches:
Corporate welfare: is a term describing a government's bestowal of money grants, tax breaks, or other special favorable treatment on corporations. The term was coined by Ralph Nader in 1966,[1][2] and creates a satirical association between corporate subsidies and welfare payments to the poor, and implies that corporations are much less needy of such treatment than the poor. The Canadian New Democratic Party picked up the term as a major theme in its 1972 federal election campaign.

considered excessive, unwarranted, wasteful, unfair, inefficient, or bought by lobbying are often called corporate welfare. The label of corporate welfare is often used to decry projects advertised as benefiting the general welfare that spend a disproportionate amount of funds on large corporations. For instance, in the United States, agricultural subsidies are usually portrayed as helping honest, hardworking independent farmers stay afloat. However, the majority of income gained from commodity support programs actually goes to large agribusiness corporations such as Archer Daniels Midland, as they own a considerably larger percentage of production.[4]

According to the Cato Institute, the U.S. federal government spent $92 billion on corporate welfare during fiscal year 2006. Recipients included Boeing, Xerox, IBM, Motorola, Dow Chemical, and General Electric.[5]

Thanks Wikipedia

Tuesday, May 06, 2008

Obama wins N.C. primary, Clinton squeeks, struggles to finish in Indiana primary

--Delegates will be divided
I live in Lake County, Indiana and am watching the CNN returns. My stomach is in knots! I voted early for Barack Obama and am waiting for the results of my county. Please watch the video below.

read more | digg story

Tuesday, February 12, 2008

Barack Obama wins Virginia, Maryland and Washington D.C.

The polls are closed in Virginia and Maryland with 47% of the precincts reporting, Presidential Candidate Sen. Barack Obama won 62% of the vote and is projected the winner according to CNN.
The photo of Sen. Obama on the CNN web site is astounding. The smile on his face tells the whole story.
Roland Martin will tell you the rest of the story...

Presidential Candidate Barack Obama greets voters in Washington D.C. where, as a U.S. Senator (D-IL), he was at his "day job"--to quote reporters. Obama voted on national security legislation.

Also, CNN just reported that Obama has surpassed Sen. Hillary Clinton (D-NY) in the number of delegates they each have. Obama has 1,170 and Clinton has 1,168.