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well, i didn't say the current state is acceptable, it just needs to be peeled back in layers. for instance...the beast that is the mortgage interest deduction. eliminating it would then change the affordability of a house to future buyers. so i, as a homeowner who bought under the current system, purchased something based on what i can afford. now, did the deduction greatly change what i can afford? no. but eliminating that deduction will result in an impact on the price of my home in the market. so i don't believe you can just peel the bandaid off. i think you have to do it in a phased approach, which you mentioned.
i think the government, when making changes to the tax code, has the same weakness virtually anyone has....not being able to foresee the unintended consequences. sometimes they are easy to identify, but sometimes they are not. the biggest issue i have with the government and this process is that they rarely go back and evaluate, like a "post implementation review"...to see if it's working as intended, and then change it if it's found not to be. this isn't unique to government though. happens in companies as well.
You're right - they (government) seem to struggle with actually assessing the results or outcomes of the policies they put in place.
The public's appetite and tolerance for change is far less than what politicians think. That's why changes to the tax code must be phased. Getting rid of the mortgage deduction over ten years gives people time to digest it, and adjust to it. The home market won't be shocked.
The simpler our laws, regulations, and tax structure is, the easier it is to understand their behavior.
because you tax all the employees via the income tax. so by eliminating taxes on corporate profits you give american businesses a big advantage and they will be great investments, they will grow and employ more workers. taxing corporate profits is stupid, you are attacking the vehicles that create the jobs. no need when you hit all the employees with income taxes, so help the corporations create more jobs (and make it permanent, no temporary stimulus tax "incentives" or cuts help at all, thats why the decrease in social security tax is idiotic not to mention social security needs the money)
because you tax all the employees via the income tax. so by eliminating taxes on corporate profits you give american businesses a big advantage and they will be great investments, they will grow and employ more workers. taxing corporate profits is stupid, you are attacking the vehicles that create the jobs. no need when you hit all the employees with income taxes, so help the corporations create more jobs (and make it permanent, no temporary stimulus tax "incentives" or cuts help at all, thats why the decrease in social security tax is idiotic not to mention social security needs the money)
Not taxing corporations will only put more money in the hands of investors. It has no affect on the corporation's ability to create jobs.
Not taxing corporations will only put more money in the hands of investors. It has no affect on the corporation's ability to create jobs.
money in the hands of investors is good, people investing in american companies is good, american companies being able to be more competitive with foreign companies is good. more money to government that hurts business is bad. more money to government in general is bad.
as an investor, the more money an investment can make for me, the more im going to invest. money invested in treaury bills is bad, money invested in private businesses is good.
because you tax all the employees via the income tax. so by eliminating taxes on corporate profits you give american businesses a big advantage and they will be great investments, they will grow and employ more workers. taxing corporate profits is stupid, you are attacking the vehicles that create the jobs. no need when you hit all the employees with income taxes, so help the corporations create more jobs (and make it permanent, no temporary stimulus tax "incentives" or cuts help at all, thats why the decrease in social security tax is idiotic not to mention social security needs the money)
30+ years ago, taxes on corporations and businesses helped to fund over half of the country's revenue. our economy was growing quite well, and our government operated with minimal debt levels. fast forward to present day, and corporations and businesses fund less than 35% of our country's revenue. we have 100% debt to GDP, our middle class is getting saddled with more and more liability, facing less and less services provided for their money, and now in most parts of the countries, both the husband and wife have to work full time. and you want to take that further?
maybe if our government operated a bit more how it used to, we wouldn't need a job for every American that was 18 and older. maybe our unemployment might come down a bit simply because 2 people don't have to work to earn a decent living in most of the country?
Quote:
Originally Posted by NJBest
Not taxing corporations will only put more money in the hands of investors. It has no affect on the corporation's ability to create jobs.
exactly. this whole idea that tax policy, and tax policy alone, creates or destroys jobs is for mental midgets.
30+ years ago, taxes on corporations and businesses helped to fund over half of the country's revenue. our economy was growing quite well, and our government operated with minimal debt levels.
ahhh the good old days when everything was perfect and no actual statistics need to be quoted because we all know everything was perfect back then and nobody complained about anything. we used to have utopia, then those evil tea partiers had to come in and ruin everything!
money in the hands of investors is good, people investing in american companies is good, american companies being able to be more competitive with foreign companies is good. more money to government that hurts business is bad. more money to government in general is bad.
as an investor, the more money an investment can make for me, the more im going to invest. money invested in treaury bills is bad, money invested in private businesses is good.
Money in the investors hands is no more effective at churning the economy than money in the corporations hands. They'll both use the money in future investments, except for the corporation it's tax deductible.
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