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How do you progressives think we will have any employment at all if you make this country unfriendly toward business? Do you even realize it is businesses that employ people or used to? If you raise taxes and add additional layers of regulations, businesses just move offshore. They have been doing for some time now. How do you plan on creating jobs if you force business overseas where it is more profitable?
Do you even think about how economics work or do you just regurgitate talking points?
You may want to expand your thoughts beyond a stupid blanket statement, so it will be easier to debate the finer points.
By the way, you have a little regurgitated talking point on your shirt. You might want to tak care of that.
If Republicans had their way, they would ship jobs overseas constantly for cheaper labor, give enormous pensions to retirees, exploit child labor in some foreign nations and lower taxes on big business not to create jobs or pay a livable wage to their hourly employees but to their rich greedy executives...
...wait, they have already been doing this for awhile
Who was raising taxes early this decade when the jobs were being sent out and in unprecedented numbers? Remember, it happened in an era with lowest tax rates in modern times. Find another excuse.
You do realize the US has the second highest business tax in the world right?
If Republicans had their way, they would ship jobs overseas constantly for cheaper labor, give enormous pensions to retirees, exploit child labor in some foreign nations and lower taxes on big business not to create jobs or pay a livable wage to their hourly employees but to their rich greedy executives...
...wait, they have already been doing this for awhile
You GOP'ers are blaming the wrong side
Keep blaming the Republicans while the Dem controlled Congress spends our way into oblivion while rebuilding both Iraq and Afghanistan while America crumbles.
You do realize the US has the second highest business tax in the world right?
Who pays it?
Quote:
More than 38,000 foreign corporations had no tax liability in 2005 and 1.2 million U.S. companies paid no income tax, the GAO said. Combined, the companies had $2.5 trillion in sales. About 25 percent of the U.S. corporations not paying corporate taxes were considered large corporations, meaning they had at least $250 million in assets or $50 million in receipts.
First of all, you're still stuck on corporate tax rate while denying deductions that corporations enjoy that brings down the effective corporate rates. People running these corporations aren't dumb to realize that. Could you tell me what the effective corporate tax rates were during the period you're talking about? And which period are you talking about? 2001+?
It is understandable that you would like to blame Carter, Clinton and now Obama for everything, but every now and then, it would be prudent to use a few facts as well. NAFTA was pretty much a done deal (with a ceremonial sign off completed) before Bush Sr left office. Clinton signed it off with additional clauses to try and protect American workers as congress was getting ready to approve it. Part of the delay was due to opposition by liberals in Canada who were anti-free trade. But they lost the elections to the conservatives which went ahead with it. So yes, Clinton did the final sign off after the bill had passed the congress.
However, jobs grew at a considerable pace during the 1990s in America, even as manufacturing dwindled. This was also an era of higher taxation. Then arrived the 2000s. Tax cuts were the norm, and especially the breaks given to the top income brackets something that hadn't been seen in decades (not since the 1920s, preceding the great depression). And jobs disappeared.
Not comprehensive, but this chart from here provides a fairly good idea of where we were in the 1920s through great depression through an era of high taxation to now, when we're in a deep recession (although, the chart stops around 2000, it went down).
And here is the corporate tax rate trend...
Wrong again.......... and again.............
The net effect of job growth is strongly fueled by the tax environment, both corporate and personal. By providing corporate tax cuts, buisnesses are are able to invest more in capital in order to expand growth. On the consumer side, tax cuts put more money in the hands of consumers who know how and where to spend money best for them, not the government.
As you are wed to socialism and the concept of central control, these concepts are alien to you. Witness-
1. The dismal failure of every managed economy. USSR, North Korea, Cuba, the eastern block countries. The only way China has evolved into an ecomic force is by embracing principles of capitalism. History shows that central managed economies ALWAYS fail. On the other hand, history shows that capitalism has been the engine of growth and ingenuity for the world.
Capitalism 1 Socialism 0
2. History shows that the largest efforts at central govenment "stimulus" have failed dismally. The first example being the US Great Depression, in which "stimulus" prolonged the depression. The second being the 1980-1990s Japan- again- stimulus failed. Now we have the Obama failure. Stimulus never works. Tax cuts have revived our economy on several occasions- Kennedy, Reagan, Bush.
Tax cuts 1 Stimulus 0
Tax Policy, Economic Growth and American Families (http://www.house.gov/jec/growth/taxpol/taxpol.htm - broken link)
3. Corporate tax rates, unlike personal income taxes, cannot be viewed in a vacuum and must be evaluated relative to other nations. Corporations, unlike US citizens, are not anchored to the US and can locate anywhere. Despite absolute tax rates, the real issue of corporate taxes is the RELATIVE RATE compared to other nations. If one cuts taxes from 50% to 25%, yet the rest of the world has a 10% rate, corporations will move to those areas with lower cost of buisness, all things being equal. Further, your "data" ignores state corporate tax rates, which add to the agregate total tax burden, which is what really matters.
The corporate tax rate of the US relative to other countries has remained high, and has actuall risen, driving jobs overseas. Further, of the total revenue of the US government, corporate taxes account for only 8% of revenue, while payroll taxes account for 45% and personal income taxes 42%. Thus the contention that cutting corporate tax rates markedly impacts federal revenues is bust and only serves to decline job growth.
US corporate tax rates are among the highest in the world, killing job growth.
I do not hate business or the market driven Capitalist economy as both a Liberal and a Progressive. Both are needed to create and distribute the wealth created in this Nation.
What I have no tolerance for are businesses and businessmen that create monopolies, at any level, to subvert the system and prevent the market from deciding the winners and the losers. I have no use for companies that send production offshore to exploit working people at the expense of domestic workers and local governments. I put the international financiers including IMF and the World Bank as the biggest thieves of all because they coerce countries into taking loans and then bankrupt the country by forcing repayment at usurious interest rates. The world class financier is likely to be a world class thief.
I believe the investment/industrial/business world needs close regulation to prevent the thieves from creating investment bubbles, speculation and Ponzi schemes. Just look at the way mortgages were sold for the benefit of the brokers and the cost to the borrowers and the entire system. International business needs the closest regulation of all because their failures can spell disaster for millions.
I believe that the system works more efficiently if the “natural monopolies” such as electrical power generation and distribution, energy resource exploration and development and medical care are owned and managed by the government for the benefit of all of the society and not just the owners.
I do not hate business. I do despise businessmen that have to cheat the Market to make their unearned profit.
First of all, you're still stuck on corporate tax rate while denying deductions that corporations enjoy that brings down the effective corporate rates. People running these corporations aren't dumb to realize that. Could you tell me what the effective corporate tax rates were during the period you're talking about? And which period are you talking about? 2001+?
It is understandable that you would like to blame Carter, Clinton and now Obama for everything, but every now and then, it would be prudent to use a few facts as well. NAFTA was pretty much a done deal (with a ceremonial sign off completed) before Bush Sr left office. Clinton signed it off with additional clauses to try and protect American workers as congress was getting ready to approve it. Part of the delay was due to opposition by liberals in Canada who were anti-free trade. But they lost the elections to the conservatives which went ahead with it. So yes, Clinton did the final sign off after the bill had passed the congress.
However, jobs grew at a considerable pace during the 1990s in America, even as manufacturing dwindled. This was also an era of higher taxation. Then arrived the 2000s. Tax cuts were the norm, and especially the breaks given to the top income brackets something that hadn't been seen in decades (not since the 1920s, preceding the great depression). And jobs disappeared.
Not comprehensive, but this chart from here provides a fairly good idea of where we were in the 1920s through great depression through an era of high taxation to now, when we're in a deep recession (although, the chart stops around 2000, it went down).
And here is the corporate tax rate trend...
On corporate taxes--the EFFECTIVE rate includes all the tricks and gimmicks and loopholes accorded to companies and industries with political pull. The system is highly bastardized and politicized, resulting in massive distortions and corruption. The key factor is the MARGINAL tax rate, which has a lot more to do with the actual incentives for real economic activity. To imply that corporate taxes are not high because Congress will sell you a special tax break if you pour in enough campaign contributions is flat wrong. Why do NASCAR track owners or rum importers get a break? And their special privileges go into your "effective rate" calculation.
I think we should implement a set of countervailing tariffs to off set the advantage gained by low wages, nonexistent environmental costs and foreign government subsidies on imported manufactured goods. When the foreign manufacturers pay a decent wage, clean up their waste stream and do not take foreign tax breaks their products will not have any tariffs assessed. For example most European products would be tariff free. Most Asian products would have considerable tariffs. These tariffs will level the international playing field.
In addition the government should strictly control legal and illegal immigration. The government should greatly reduce the import of foreign professional workers by basing the allowed numbers on the employment levels of American workers. I would like to see Microsoft pay American programmers American wages before being allowed to import foreigners. The same applies to other industries that depend on legal and illegal labor. We need to make labor scarce in this country so the market will award higher wages even if reduces corporate profit. We really need to close the borders even if it disturbs the Mexican Government.
LOL. So if nobody pays it, eliminate it and lets see what happens.
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lol...
