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Old 08-10-2019, 06:01 AM
 
30,425 posts, read 16,749,244 times
Reputation: 14105

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Quote:
Originally Posted by lkb0714 View Post
Its literally in your own post, he will tax corporations. Amazon literally paid nothing in corporate taxes in 2018, which would have been billions in that year alone, and that is even before raising corporate tax rates to the level they were in the 1950s. Meanwhile all of the other corporations that are likewise paying nothing in federal corporate taxes will be paying their fair share.
as an Amazon customer the less they pay in taxes the better off I am by way of lower prices. Tell me how I'm wrong?
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Old 08-10-2019, 06:07 AM
 
Location: New Jersey
5,839 posts, read 3,052,146 times
Reputation: 6844
You all know I am a pro-Trump conservative Republican but for giggles, part of me just wants to see one of these socialist Leftist become president just so we can see these liberal elites, tech billionaires, rich Hollywood celebrities and millionaire athletes that claim they love socialism so much, have to pay 70%+ of their fortune to the government.

I would love to see how willingly they will do that.
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Old 08-10-2019, 06:13 AM
 
Location: USA
19,254 posts, read 9,325,266 times
Reputation: 14443
Quote:
Originally Posted by antinimby View Post
You all know I am a pro-Trump conservative Republican but for giggles, part of me just wants to see one of these socialist Leftist become president just so we can see these liberal elites, tech billionaires, rich Hollywood celebrities and millionaire athletes that claim they love socialism so much, have to pay 70%+ of their fortune to the government.

I would love to see how willingly they will do that.
No, they will get loopholes in the new tax code. They won't have to pay. The MIDDLE INCOME EARNER will have to pay.
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Old 08-10-2019, 06:14 AM
 
16,835 posts, read 14,282,528 times
Reputation: 20741
Quote:
Originally Posted by Pilot1 View Post
Corporations pass all taxes onto the consumer. You and I pay corporate taxes. Take an economics course please.
I have taken many.

Effective corporate tax rates were substantially higher in the 1950s and 1960s. You acknowledge this fact correct?

Even controlling for inflation what do you think the cost of most good were? Most were lower or equivalent to todays prices, Now look at things like housing, schooling, non consumer items, they were leaps and bounds more affordable even when controlling for inflation.

So stop pedaling the lie you have posted above.
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Old 08-10-2019, 06:15 AM
 
Location: New Jersey
5,839 posts, read 3,052,146 times
Reputation: 6844
Quote:
Originally Posted by lkb0714 View Post
Its literally in your own post, he will tax corporations. Amazon literally paid nothing in corporate taxes in 2018, which would have been billions in that year alone, and that is even before raising corporate tax rates to the level they were in the 1950s. Meanwhile all of the other corporations that are likewise paying nothing in federal corporate taxes will be paying their fair share.
OMG, we've been through all this before. If you tax corporations, they'd just move their wealth and operations overseas and tax shelters. Then the U.S. economy stumbles and declines.

The whole reason why the economy is doing so well now is because Trump reduced corporate taxes. Due to the natural economic cycle, we were even suppose to enter a recession by 2017 but the economy got an extra boost because of the Trump tax reduction.

What these dumb Democrats want to do is not only roll back the tax reduction but put it on reverse and make the economy dive. They'd literally will run the economy into the ground. It will start falling even before any one of them are sworn in because as we all know, just the threat of socialism will send the markets into a nose dive.
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Old 08-10-2019, 06:20 AM
 
Location: USA
19,254 posts, read 9,325,266 times
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Corporations must maintain their TARGET GROSS MARGINS to continue to exist as a vehicle to earn their owners (stock holders) a return large enough to accept the risk of having their money invested with them. To do that, if any of their costs increase they largely get passed through to the consumer, their customers. Just a fact of business. A Tax is like any other business cost.

Also, as others have said, corps will move to minimize their tax burden in order to keep their prices lower, and in line with their competition who then also moves.
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Old 08-10-2019, 06:23 AM
 
Location: New Jersey
5,839 posts, read 3,052,146 times
Reputation: 6844
Quote:
Originally Posted by Pilot1 View Post
No, they will get loopholes in the new tax code. They won't have to pay. The MIDDLE INCOME EARNER will have to pay.
Yup, exactly. In other words, these rich liberal Leftists will not pay up. As usual the Leftists are hypocrites.

"Do as I say, not as I do."
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Old 08-10-2019, 06:25 AM
 
16,835 posts, read 14,282,528 times
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Quote:
Originally Posted by Frank DeForrest View Post
as an Amazon customer the less they pay in taxes the better off I am by way of lower prices. Tell me how I'm wrong?
Because the economy is more complex than you are pretending it is above.

The strongest economic time periods for the middle class coincide with the time periods of highest corporate tax rate. In 50s and 60s the corporate tax rate was more than double what it is now. Meanwhile marginal tax rates for individuals were much lower (25% vs 37% according to AEI Were taxes really higher in the 1950s? - AEI)

The GDP doubled from the end of the 1940 to the 1960s and almost half of it was due to massive increases in government spending on infrastructure and the like, which is directly possible due to that corporate tax structure.

And that is just the tip of the iceberg when it comes to the multitude of ways besides the over simplistic rhetoric you have posted above that a larger corporate tax rate improved the economy for the middle class in the 50s and early 60s.
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Old 08-10-2019, 06:30 AM
 
Location: Great Britain
12,416 posts, read 4,239,973 times
Reputation: 7693
Quote:
Originally Posted by Frank DeForrest View Post
as an Amazon customer the less they pay in taxes the better off I am by way of lower prices. Tell me how I'm wrong?
It just means that the average US citizen has to pay more taxes to make up for the tax avoidance of big corportations and that services and infrastructure are neglected, and that the US gets deeper and deeper in to debt, with vast budget deficits.

The big winners are usually the corporate shareholdrers, who are often wealthy t start with ad who have just been handed a tax cut under the current US administration.

Taxes are there to ensure you live in a decent country, with decent infrastructure, good transport, an education and health sysytem to be proud of, a military to defend you and numerous other things and by avoiding taxes big corportations just take from society generally.
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Old 08-10-2019, 06:30 AM
 
16,835 posts, read 14,282,528 times
Reputation: 20741
Quote:
Originally Posted by Pilot1 View Post
Corporations must maintain their TARGET GROSS MARGINS to continue to exist as a vehicle to earn their owners (stock holders) a return large enough to accept the risk of having their money invested with them. To do that, if any of their costs increase they largely get passed through to the consumer, their customers. Just a fact of business. A Tax is like any other business cost.

Also, as others have said, corps will move to minimize their tax burden in order to keep their prices lower, and in line with their competition who then also moves.
Oh please.

The largest corporation are making record profits hand over fist. Last year the big 8 health insurance companies made nearly a quarter of a BILLION dollars in profit. They made billions more due to the tax cuts, guess how much of that went to lower health insurance costs? Oh yes, none. On average premiums go up 3% a year. After the tax cut how much did the average policy premium change by? UP 3%.

Enough with the fairy tales already.
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