by dsula » Thu 18 Nov 2010, 07:59:13
$this->bbcode_second_pass_quote('Sixstrings', '')$this->bbcode_second_pass_quote('dsula', 'Y')ou got your OMG the wrong way around. I thought you wanted that manufacturing is coming back to the US. US has a ridiculous high corporate tax rate. It's about time they lower it. And they should pay by eliminating food stamps.
Ridiculously high rate? With loopholes and money laundering schemes with colorful names like the "Double Irish" and "Dutch Sandwich," very profitable companies like Google only pay 2.4% effective income tax. Facebook is looking to do the same:
Why do you constantly confuse super big global companies with small-to-mid size businesses. It's the SMALL and MID size business who are productive and hire. Do you really think a well managed, well doing 20 employee car repair shop in wisconsin can play your "irish-bermuda" trick to save taxes?
Or your 100 employee speciality high accuracy titanium milling shop in ohio? Think they can do the irish thingy? Please, the US does not consists of only MEGA corps. That's actually a minority.
You want to nurture an environment where the middle-class thrives INCLUDING middle class business.
And I thought your always advocate to screw the rich as much as possible. Isn't the consumption tax exactly what you wanted? You are rich, you consume, you pay. You are poor, you can't consume, you pay nothing.
by Serial_Worrier » Sun 21 Nov 2010, 10:34:22
$this->bbcode_second_pass_quote('Sixstrings', '')$this->bbcode_second_pass_quote('', '[')b]Bipartisan Panel Calls for Overhaul of Tax Code: WSJ
A panel of Democrats, Republicans, economists and other experts is set to say Wednesday that a complete overhaul of the US tax code is the best way to address the nation's fiscal problems -- a new and likely controversial idea aimed at tackling the growing deficit.
(snip)
The most recent report, put together by a group called the Bipartisan Policy Center, will call for a one-year payroll tax holiday in 2011 that it says will create between 2.5 million and seven million jobs.
The plan would lower income and corporate tax rates and offset them with a 6.5 percent national sales or "consumption" tax as well as an excise tax on sugar drinks like soda.
http://www.foxbusiness.com/markets/2010/11/17/bipartisan-panel-calls-overhaul-tax-code-wsj/Well this a real O - M - G moment. It's hard to believe. They actually want to LOWER corporate income tax and offset that with a NATIONAL SALES TAX of 6.5%, which will be on top of our state sales taxes.
It's like they're purposely trying to shift the tax burden from the rich to the lower classes, just unbelievable. A national sales tax is REGRESSIVE, it will lower consumption and destroy jobs not create jobs! And it hurts the jobless and poor the most, they're the ones who can least afford another 6.5% shaved off the top.
The one year payroll tax holiday is an interesting idea, but folks who pay taxes are able to do so precisely because they aren't hurting right now. And a one year holiday is TEMPORARY, whereas a national sales tax will be FOREVER. That's another 6.5% of your money the government will get for the rest of your life. Actually worse than that, since sales tax creeps up over time.
You realize that corporations don't pay taxes? Whatever rate you tax them at, they simply build it into their prices. Only customers pay taxes.
by Serial_Worrier » Sun 21 Nov 2010, 11:55:58
$this->bbcode_second_pass_quote('dsula', '')$this->bbcode_second_pass_quote('Serial_Worrier', 'Y')ou realize that corporations don't pay taxes? Whatever rate you tax them at, they simply build it into their prices. Only customers pay taxes.
wow, that much stupidity got to hurt. how many painkiller pills do you need a day?
If I'm a corporation and you increase my tax by 5%, I increase my prices on all products by 5%. What about that you don't get? It doesn't hurt me competitively, because all my competitors will raise their prices by 5%. So by increasing corporate income tax you hurt the consumers. If you want to really hurt the fat-cats, increase the top personal income tax rate. Good luck with that.
by Lore » Sun 21 Nov 2010, 12:02:00
$this->bbcode_second_pass_quote('Serial_Worrier', 'I')f I'm a corporation and you increase my tax by 5%, I increase my prices on all products by 5%. What about that you don't get? It doesn't hurt me competitively, because all my competitors will raise their prices by 5%. So by increasing corporate income tax you hurt the consumers. If you want to really hurt the fat-cats, increase the top personal income tax rate. Good luck with that.
But you see, in a supposedly free market system, it doesn’t work that way. Your competitor may not choose to raise their prices at all and absorb the cost in an attempt at taking away the limited business from their rival. In fact presently, the reason inflation is so low while commodity prices are accelerated upwards, is for just this reason. Limited demand does not tolerate increases in prices.
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
... Theodore Roosevelt
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Lore
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by Hawkcreek » Sun 21 Nov 2010, 12:22:40
$this->bbcode_second_pass_quote('Ludi', '')$this->bbcode_second_pass_quote('Hawkcreek', ' ')This won't change until we start hanging politicians.
Do we have to hang them? Can't we start by ignoring them?
I believe a faster turnaround will be achieved if we hang em. Could be wrong, but history seems to support that.
"It don't make no sense that common sense don't make no sense no more"
John Prine
by Expatriot » Sun 21 Nov 2010, 12:36:43
$this->bbcode_second_pass_quote('Lore', '')$this->bbcode_second_pass_quote('Serial_Worrier', 'I')f I'm a corporation and you increase my tax by 5%, I increase my prices on all products by 5%. What about that you don't get? It doesn't hurt me competitively, because all my competitors will raise their prices by 5%. So by increasing corporate income tax you hurt the consumers. If you want to really hurt the fat-cats, increase the top personal income tax rate. Good luck with that.
But you see, in a supposedly free market system, it doesn’t work that way. Your competitor may not choose to raise their prices at all and absorb the cost in an attempt at taking away the limited business from their rival. In fact presently, the reason inflation is so low while commodity prices are accelerated upwards, is for just this reason. Limited demand does not tolerate increases in prices.
Wow. Gotta love the Internet.
What would be great on a board like this would be to have a picture of everybody at their computer and face shot, and their resume.
I picture one poster on this forum (not Lore, BTW) as an obese, 45ish woman pounding Doritos, never had a job more important than phone-girl at the pizza joint, pontificating endlessly on everything. And because forums offer a natural filter for everything, there is a presumption that all words deserve equal consideration.
Lore, I picture you as a young, male, liberal. Maybe 28ish.
Your post, above, smacks of having no experience running a business.
You want a 5% tax. Therefore, you'll argue anything to support it, whether it's based on reality or not.
Good luck finding a business that already isn't offering close to the lowest price it can. If the gov sticks a 5% tax on a product, there is no ability to simply "absorb" that cost, as you put it.
That's coming from experience Lore, not wishful thinking.
I have a friend who runs a body shop. His profit is something like 8 cents on the dollar of each repair. For a 3,000 fender job is 240 bucks. If you put a 5% tax on the job, his profit goes to 90 bucks.
Your suggestion, above, seems to imply that businesses aren't already attempting to out-sell the other guy with lower prices. Frankly rather silly.
This gem, BTW :
$this->bbcode_second_pass_quote('', ' ')In fact presently, the reason inflation is so low while commodity prices are accelerated upwards, is for just this reason.
Is really in a class by itself.
Inflation is low? Really?
An independent company that tracks inflation in prices at Walmart is currently indicating over 4% inflation, annually.
That's low?
And even if we suppose, ad arguendo, that inflation is "low," you're contending that companies are absorbing cost increases, thereby keeping inflation low, but commodity prices are ?
Huh?
Like I said.
Internet is a double edged sword.
On the one hand, everyone can have a voice. Which is good.
On the other hand, some person whose greatest experience in business was making 58.97 at a lemonade stand at age 11 can post non sequiters only for the point of supporting a political conclusion with economic babble, and have it blend right into the morass.
Lord.
