Free pony farms for the rich! Let them decide if and when to dole them out to the unwashed masses.

Poor people freeload off govt = communism.

Rich people steal from govt = capitalism at it's highest level.

If we ease up on them the 10% will be able to create more ponies.

I've never gotten a pony from a poor man

We really do need to ease up on them. They're hurting right now. So much so that a baseball team that was worth $400 mil in 2004 and has been run into the ground is now worth $2.15B. Or elite Manhattan schools are talking about how they're getting more and more of their total donations (over and above tuition) from fewer and fewer people.

God knows stuff like a payroll tax cut on the middle class doesn't stimulate the economy. Tax me more. Whatever it takes to ease the burden on the poor rich folk who have seen their share of the wealth absolutely skyrocket over the last decade. Let it all trickle down to investment in China that in 50 years or so will find its way back to the US when they're buying our manufactured goods because their workers demand too much money.

McCourt came in '04. They hadn't won a playoff series since 88 and won one in 08. Their payroll was always high, the divorce screwed up the team for one year but it's still got plenty of young talent and Kershaw just won the Cy and Kemp came in 2nd in MVP.

'08 3rd in MLB attendance
'09 1st in MLB atttendance
'10 3rd in MLB attendance
'11 11th MLB in attendance

Last year was a boondoggle b/c of the divorce but I don't think that constitutes running the team into the ground

I mean, mike knows that the top 10% he cares about so deeply pays the 65-70% of the nation's income taxes precisely because they earn about 60% of the nation's income. It shouldn't be the least bit surprising that the people with the lion's share of the national income pay the lion's share of the income taxes, but mike seems to think that unless every one pays the same flat fee in dollars instead of percent, then there's great injustice being done

Yeah but how are they doing in the all important stabbings/yr and fans-beaten-into-a-coma metrics?

I went to one Dodger game and made the mistake of sitting in the bleachers with a 10-yr-old kid. Never again.

Until they clean up the atmosphere at the stadium and get rid of the gang-bangers I don't see them having much of a resurgence.

Should look at their income vs. total govt spending, not their income vs. total income taxes.

You and your fancy math and logic. You're just as bad as those scientists.

It really is a mind-bogglingly brilliant talking point for the republicans. The bigger slice of the pie the wealthy take home, the more victimized they look (according to that metric).

I'm confused as to what corporate tax breaks are left for big companies. Many of them are already at zero corporate taxes paid. Skin in the game is mandatory, rite?

Wat? The US has the 6th highest effective tax rate in the world according to this Bloomberg study.

http://www.bloomberg.com/news/2011-0...udy-finds.html

That's taxes accrued, not paid, significant difference

Is the difference anything more than timing?

Hey, let me know if you would turn down the IRS if they were to let you pay this year's taxes years down the road instead.

No, I am have a firm grasp on the time value of money (and accruals don't equal slower payment but w/e) Not sure why using accrued taxes invalidates the study. Accrual accounting is not unique to the US.

Unknowledgeable guess, does accrued taxes include tax loopholes? The name, to me, seems to imply that it doesn't factor in loopholes, credits and all that jazz. But as said, I don't know, and couldn't figure it out in 30 seconds on google.

Provisions for accrued taxes are estimates based on current law including all credits/deductions etc.

Incorrect. In 2010 the top 10% earned 45% of the income and paid 70% of the taxes.

How about putting some context to the headline:

Accounting theory says that accrued tax eventually equals cash taxes paid. Tax accounting is unique but I am not aware of anything that would invalidate that principle.

What you have quoted is a good reason why its not correct to say that the US has the highest corporate tax rate in the world despite having the highest marginal tax rate in the world. I think it's accurate to say the US has the 6th highest corporate tax rate but awaiting Riverman's clarification.

With very limited exceptions nothing does:

The Basic Principles of Accounting for Income Taxes

To implement that objective, all of the following basic principles are applied in accounting for income taxes at the date of the financial statements:

A current or deferred tax liability or asset is recognized for the current or deferred tax consequences of all events that have been recognized in the financial statements;

The current or deferred tax consequences of an event are measured by applying the provisions of enacted tax laws to determine the amount of taxes payable or refundable currently or in future years; and

The tax consequences of earning income or incurring losses or expenses in future years or the future enactment of a change in tax laws or rates are not anticipated for purposes of recognition and measurement of a deferred tax liability or asset.

The only exceptions in applying those basic principles are that this Statement (a) does not amend the requirements for recognition of deferred taxes for the areas identified in APB Opinion No. 23, Accounting for Income Taxes-Special Areas, (b) does not address recognition of deferred taxes for deposits in statutory reserve funds by U.S. steamship enterprises, (c) does not amend accounting for leveraged leases as required by FASB Statement No. 13, Accounting for Leases, and FASB Interpretation No. 21, Accounting for Leases in a Business Combination, and (d) prohibits recognition of a deferred tax liability or asset related to goodwill.

Thanks, I know tax accounting is own little special bit of hell. I think its clear we lead the world in corporate tax inefficiency and inequality. Would love to see reform. And corporate taxes are too damn high!

big fan of you all talking about the increasing wealth disparity over the last couple decades, do go on please

While we're at it: The top 10% own about 90% of the financial wealth.

Yeah but the bottom 50% own 95% of the tickets to tonight's mega millions drawing.