Re: SSN entitlements, US (still): Population and longevity

From: kevincar (kevindotcar_at_yahoo.com)
Date: 07/23/04 

Date: 23 Jul 2004 11:19:10 -0700

"Kent Paul Dolan" <xanthian@well.com> wrote in message news:<e9d5a82c313b5aaa962bc3c9974207fc.48257@mygate.mailgate.org>...
> "kevincar" <kevindotcar@yahoo.com> wrote:
>
> > WRONG!
> > Corporations are taxed on INCOME...
> > Profits are always AFTER taxes!!!
>
> Wrong. The net is rife with the required balance sheets
> filed by corporations in complaiance with SEC regulations;
> go read them and try to understand what you are seeing.
>
> In particular, pay attention to the entry for "profits" and
> "profits net of taxes".
>
> As Professor Spillman has already indicated, your ignorance
> is rapidly wearing out your welcome.
>
> > Goddammit, Kent- puhhleeze take a basic accounting course,
> > before you drive me me nuts with this idiotica of yours
> > that you keep posting.
>
> Your ability to call names is not balanced by your ability to
> have the least clue about the subject matter on which you
> claim expertise. I'd refer you to my wife, the accountant
> with 20 years experience in the field, who has also filed
> taxes for small businesses, for some remedial education,
> but she and I aren't speaking any more.
>
  YOU are the one that started the name-calling - but to
  to show that I am the one here with the ability to show
  personal responsibility for my posting content I wish to
  say I apologise to you for saying the word "idiotica".
    
> What you think is true, based on an accounting course you heard
> rumors someone took, is not anything like what _is_ true, based
> on even a minimal amount of research into the subject matter.
>

 You will not find the word "profit" as a line-item on a
 balance *** or Income Statement. I challenge you to find the
 word "profit" in the FASB guidelines for finacial statements-
 look here for a start:
     
     http://www.ffsc.org/guidelines/fs_formats.htm
     
> Just what, in your fevered brain, did you think _defines_ the
> "income" on which corporations pay taxes, but _profits_???
>
  
  We are merely arguing semantics:
  You define "profits" as the net after cost of goods sold.
  
  I define profit as money that go into retained earnings.
   Think I'm making that up? read here:
      http://www.investopedia.com/articles/fundamental/04/010704.asp
   
  
> Corporations most assuredly do not pay taxes on income defined
> as "revenues", as individuals do.
>
  *sigh* here we go again :-)

K.C

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