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Old 08-10-2019, 06:32 AM
 
Location: New Jersey
5,850 posts, read 3,060,541 times
Reputation: 6861

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Quote:
Originally Posted by lkb0714 View Post
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.
Umm, 1940's to 1960's, the U.S. had little competition. Most of Europe and Asia was devastated by the World Wars. We live in a different world now. Almost everyone is competing with us. Mexico, China, India, Vietnam, South Korea, Japan, Germany, Canada, etc. can all do what we used to do but faster and cheaper.
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Old 08-10-2019, 06:38 AM
 
Location: New Jersey
5,850 posts, read 3,060,541 times
Reputation: 6861
Quote:
Originally Posted by lkb0714 View Post
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.
You seem to hate seeing corporations make money. Do you know what happens if they don't make money? Yes, they go out of business. Do you know what happens if all corporations go out of business? I know you have been brainwashed by Leftist ideology to hate corporations but corporations are just companies that keep a bunch of people working to produce things that society needs.

It's working just fine. That's why you have the rest of the world adopting this idea. The ones that haven't adopted, e.g. Venezuela, Cuba, North Korea...well you see the results.

Punishing them is little more than cutting off one's nose to spite the face.
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Old 08-10-2019, 06:40 AM
 
16,835 posts, read 14,293,340 times
Reputation: 20741
Quote:
Originally Posted by antinimby View Post
You seem to hate seeing corporations make money. Do you know what happens if they don't make money? Yes, they go out of business. Do you know what happens if all corporations go out of business? I know you have been brainwashed by Leftist ideology to hate corporations but corporations are just companies that keep a bunch of people working to produce things that society needs.

Punishing them is little more than cutting off one's nose to spite the face.
Right and taxing them fairly is going to put them out of business? Except historically it hasn’t.
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Old 08-10-2019, 06:41 AM
 
Location: Near Falls Lake
2,890 posts, read 1,968,372 times
Reputation: 2723
Quote:
Originally Posted by lkb0714 View Post
It’s 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.
Just be aware of what happens when you tax corporations.....the higher cost of doing business is passed on to the consumers of their goods and services.
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Old 08-10-2019, 06:42 AM
 
13,179 posts, read 4,804,862 times
Reputation: 5404
Quote:
Originally Posted by antinimby View Post
Umm, 1940's to 1960's, the U.S. had little competition. Most of Europe and Asia was devastated by the World Wars. We live in a different world now. Almost everyone is competing with us. Mexico, China, India, Vietnam, South Korea, Japan, Germany, Canada, etc. can all do what we used to do but faster and cheaper.
Thats a myth. Europe had recovered their pre-war GDP by 1950. By 1960, they were far, far richer than ever. They were not "devastated". Same with Japan.

The reality is that when labor unions are strong, and the national government actually invest in the health and education of the people through higher taxes and stronger labor rights, the economy booms, like we saw in the 1960s.
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Old 08-10-2019, 06:42 AM
 
16,835 posts, read 14,293,340 times
Reputation: 20741
Quote:
Originally Posted by antinimby View Post
Umm, 1940's to 1960's, the U.S. had little competition. Most of Europe and Asia was devastated by the World Wars. We live in a different world now. Almost everyone is competing with us. Mexico, China, India, Vietnam, South Korea, Japan, Germany, Canada, etc. can all do what we used to do but faster and cheaper.
My examples included amazon and health insurance. Care to explain how those two corporate entities with their record breaking profits are being competed with by “almost everyone”.

Look you clearly like the Fox News talking points, oft repeated by the corporation loving republicans, but they don’t hold up to even the simplest of inspection.
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Old 08-10-2019, 06:49 AM
 
Location: New Jersey
5,850 posts, read 3,060,541 times
Reputation: 6861
Quote:
Originally Posted by lkb0714 View Post
Right and taxing them fairly is going to put them out of business? Except historically it hasn’t.
Do you understand the idea of competition? If location A and location B are both equally capable of serving as your business but A wants to take 20% of your profits but location B would only take 5% of your profits, where do you think a normal person is going to put their business?

I have already explained to you that the U.S. had very little competition back in the mid 20th century because the rest of the world was still trying to recover from the two WW's. U.S. corporations had very little choice. Once that started to change in the latter part of the century, you saw how industry abandoned the U.S. cities and went to Mexico, China, Japan, Korea, etc.

We have already seen this. It folks like you that just didn't realize it.
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Old 08-10-2019, 06:55 AM
 
Location: New Jersey
5,850 posts, read 3,060,541 times
Reputation: 6861
Quote:
Originally Posted by PCALMike View Post
Thats a myth. Europe had recovered their pre-war GDP by 1950. By 1960, they were far, far richer than ever. They were not "devastated". Same with Japan.

The reality is that when labor unions are strong, and the national government actually invest in the health and education of the people through higher taxes and stronger labor rights, the economy booms, like we saw in the 1960s.
No way Europe recovered by 1950.

And you've got your facts all wrong. The U.S. economy boom started in the 1940's as a result of the war and stayed strong throughout the 50's. The 60's the U.S. was still running on the momentum of that earlier boom. The 70's we are on the decline and recovered in the 1980's because of Reaganomics.
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Old 08-10-2019, 06:55 AM
 
Location: North Carolina
3,060 posts, read 2,114,536 times
Reputation: 6268
Quote:
Originally Posted by antinimby View Post
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.
The question I have about that is how can good behavior (creating high quality (both in terms of competitive pay and the way employees are treated) USA jobs and keeping them here and providing affordable goods and services to people in the USA) while not rewarding bad behavior (moving jobs overseas, abusive practices among some employers, etc.). That seems to be the challenging question.

Even if Bernie Sanders doesn't have the best solutions to do this, most of the problems and disparities he brings up are still valid problems that need to be worked through in a constructive non-partisan way, regardless of who ends up in office.
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Old 08-10-2019, 07:08 AM
 
30,520 posts, read 16,776,057 times
Reputation: 14146
Quote:
Originally Posted by lkb0714 View Post
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.
"The tax rate in the 50's and 60's...blah blah blah zzzzzzz"
You haven't proven that in making me poorer I'll be richer. Yes its really that simple.
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