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Yes, this explains quite a lot. Many co-opted people actually believe that they might be super-wealthy one day, and they don't want their incomes in those deluxe future times encumbered by high rates of taxation. Such foolish fantasy!
A booming job market helps everybody. You don't have to think you're going to be super-wealthy to want companies to be growing and hiring. Low, competitive tax rates on business are necessary for business growth in a given country or else the businesses will move to other countries.
Growth rates are less sensitive to personal taxes - up to a point! When you have to give half of your wage gains to the government, it reduces incentives to try to get ahead.
If Congress wants to lower the corporate tax rate to be more competitive that's fine. What I don't like is the false narrative that it will create jobs and increase wages. Corporations are flush with cash right now and wages have been stagnant even though unemployment has been low for the last few years. If corp taxes are lowered, compensation will increase for execs, shareholders and there will be stock buybacks. The average Joe will not benefit.
Why do wage earners, with no college degrees, little understanding of Corp. accounting practices such as write offs,support tax policies that give huge tax breaks to Corporations? They never ever pay the tax rate that they are supposed to be in. GE, for instance, pays 0 taxes. How is that possible?
Do they truly believe these tax breaks will create jobs for them? Unemployment is the lowest right now.
Corporations have huge cash reserves and can invest them in expansion right now if they want to.
I am not trying to politicize this, merely want a discussion on how this happens where voters are induced to vote against their own interests.
Because we have pourous boarders people are affraid that if we dont effectivly give away the farm that companies will just off shore/import H1B's. Its the same reason why anyone in their right mind would support at-will employment, Germany most certianly does not have at-will employment and yet they are an economic power house in the EU, they also dont (up until just a few years ago with syrian refugees) have pourous boarder and loose worker visa programs, they also have drastic VAT taxes that prevent alot of things from being imported from places like China, etc. The entire nation is basicly ran by Unions and they dont suffer economicly for it but they also have proper trade and immigration policies in place to prevent their citizens from competing with slave labor.
I dont know about GE but I do know that mega corps are sitting on almost a trillion dollars because we got rid of the 90% tax rate on corporate profits above a certian amount so instead of creating jobs they just sit on it. WE allow it by who we elect, Trump was suppose to fix alot of this and has so far done nothing (no 50% tarrifs on china, no elimination of visa programs, no new taxes for mega corps, nothing). I think if Trump screws this up it will embolden a true nationanalist to run next time and most likely win, I dont think the american people, as stupid as they are, will tolerate much more of this.
A booming job market helps everybody. You don't have to think you're going to be super-wealthy to want companies to be growing and hiring. Low, competitive tax rates on business are necessary for business growth in a given country or else the businesses will move to other countries.
Growth rates are less sensitive to personal taxes - up to a point! When you have to give half of your wage gains to the government, it reduces incentives to try to get ahead.
This unprecidented peace in the world has emboldened companies and people to s*it on their own people. If you as a buisness owner had to worry about the nation you were leaving sending a cruise missle into your new factor in bengalore and you having a warrent for your arrest for treason we would see this tripe end really really quick. We as a nation could disolve corporations and make them private entities with named owners who take the full brunt of liability for the company.
This unprecidented peace in the world has emboldened companies and people to s*it on their own people. If you as a buisness owner had to worry about the nation you were leaving sending a cruise missle into your new factor in bengalore and you having a warrent for your arrest for treason we would see this tripe end really really quick. We as a nation could disolve corporations and make them private entities with named owners who take the full brunt of liability for the company.
We allow these things to happen.
Because there is huge payoff in terms of money as well as position of power in elected office.
A booming job market helps everybody. You don't have to think you're going to be super-wealthy to want companies to be growing and hiring. Low, competitive tax rates on business are necessary for business growth in a given country or else the businesses will move to other countries.
Growth rates are less sensitive to personal taxes - up to a point! When you have to give half of your wage gains to the government, it reduces incentives to try to get ahead.
The GOP is unable to explain why when Trump takes credit for an already booming job market, and booming stock market, they want tax cuts for corporations to create a boominger market for all. It is a huge pile of BS and that is why they are unable to explain. They are doing a huge PR campaign for the tax cuts with not only TV ads and talking points and repeating the same thing like a mantra, but also by infiltrating social media such as this with false information.
cb2008, has this forum been infiltrated yet? I would love to know who is the poster with the most current info straight from the source. And what do you have against more growth in my investments?
cb2008, has this forum been infiltrated yet? I would love to know who is the poster with the most current info straight from the source. And what do you have against more growth in my investments?
If growth in your investments means Chinese level slave wages for everyone else I am against it and I will vote against the boomers every time. Keep your friends healthy because you are slowly loosing voter base
pittsflyer, how do you expect me to survive on my meager pension and measly (less than five figures) investments if I can't grow those investments somehow? Why should they be taxed twice (corporate income tax plus individual income tax on the dividends and/or any capital gains)? You don't believe corporations have to provide viable employee compensation packages to grow and remain profitable?
If growth in your investments means Chinese level slave wages for everyone else I am against it and I will vote against the boomers every time. Keep your friends healthy because you are slowly loosing voter base
Oh, I almost missed that little hint of ageism there. It's okay, I've developed a pretty thick skin over the years --- you just go on ahead and dream about giving away my earnings to anybody your little heart desires. And yes, I go to enough funerals these days to very well recognize that us older folks are slowly passing on. So kind of you to mention it.
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