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Now, I'm for high taxes on corporations that have off shored their operations and slit the throats of the American worker and thei country in so doing .. want to do that ... HUGE TAXES ... want to avoid those huge taxes ... run your operation with American workers, including manufacturing right here in the USA. Until you do, you can have NO OPERATIONS here ... no corporate HQ ... no access to US markets without punitive tariffs that will exceed any savings realized by using overseas slave labor ... zip .. nothing.
Businesses made record profits, the largest ever, yet they want me to believe a 4% increase in taxes on income over $250K will destroy them? They need to stop counting their gold long nough to do some hiring here in America.
I think we should lower the corporate tax rate. But businesses will not hire simply because of lower taxes. We will hire when the middle-class (what's left of it) starts spending again. Without increased consumption, look for several years of high unemployment....because any tax breaks for business will not = more jobs.
Businesses made record profits, the largest ever, yet they want me to believe a 4% increase in taxes on income over $250K will destroy them? They need to stop counting their gold long nough to do some hiring here in America.
Exactly....and with those record profits, did unemployment drop? Did they go on a hiring binge? Nope! So why would any person with a shred of common sense think that lowering taxes would entice the private sector to hire? How'd that work for us from 2000-2008
A friend sent me this article. It talks about the elimination of the corporate income tax as a solution to unemployment. The writer estimates the corporate taxes to bring in $300 billion a year; but that figure is overshadowed by the governmental expenses of corporate subsidies , bailouts and price supports, estimated to be $350 billion/year.(Gov. Subsidies have reportedly doubled in the last 20 years to 1,800 programs!) Eliminating corporate income taxes and the government's financial support of corporations would theoretically, result in a savings of about $50 billion/yr and businesses would put this money into expansion and jobs resulting in a timely end to unemployment.
This is bunk, all corporations do is limit the liability and personal loss of wealth while operating a business for the owners of the corporation.
If salaries or benefits are taken from the Corporation by owners and employees the typical taxes are paid.
If things are legally re-invested in the company through the corporation for legal reasons, then that money is not counted for taxation.
If a corporation leaves money non-dispersed in the corporate name, the owner ends up paying taxes TWICE.
I think some regulations need to be reviewed, but I think the taxing concepts for Corporations are about right.
I say get rid of all taxes on businesses, corporations, and investments. We should be taxing consumption.
I'm a liberal, but I think that liberals are being hypocritical when they say businesses and corporations should pay taxes, but then complain when courts rule they have the right to give political donations.
They don't seem to understand that if I have a million dollars to invest,
I will seek the fastest growing, developing economies, and the newest, youngest markets.
And the USA is none of those.
You give me a tax break, and I'm taking them $$$$ all the way to Nigeria, South Africa, Indonesia and Malaysia.
Businesses made record profits, the largest ever, yet they want me to believe a 4% increase in taxes on income over $250K will destroy them? They need to stop counting their gold long nough to do some hiring here in America.
Extra 4% tax will mean that they'll
have to buy Coach bags,
instead of Louis Vuittons.
I think we should lower the corporate tax rate. But businesses will not hire simply because of lower taxes. We will hire when the middle-class (what's left of it) starts spending again. Without increased consumption, look for several years of high unemployment....because any tax breaks for business will not = more jobs.
EXACTLY. I'm a small business owner. Why would I spend a tax cut to expand or reinvest in my business if I don't have an increase in sales? Sales won't go up until customers have more money to spend. You hire when you have greater demand--not just because you have more profit. What type of economist makes these goofy theories up? Either they're trying to fool the public (who may not know any better) into giving big business more, or they've never actually been in business themselves.
That said, a corporate tax cut (paired with getting rid of the loopholes and handouts so everyone actually pays) tied to hiring here in the US vs. off shore might actually help unemployment, by encouraging employers to create US vs. foreign jobs to get the cuts. Our tax rate really is too high for the companies that actually pay now, and those are usually small businesses who already hire locally. If breaks were tied to creating jobs at home, hopefully more jobs would be kept here or created here by big companies who currently send them overseas. More people would be employed, more money would be pumped into the economy, and then the whole process starts to make more sense. A more competitive rate with the rest of the world would also encourage foreign investment.
So we should reward the overclass that created the mess in the first place and screw over the working class to pay for it?
Oh wait we tried that. The economy is still bad.
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I'm a small business owner. Why would I spend a tax cut to expand or reinvest in my business if I don't have an increase in sales? Sales won't go up until customers have more money to spend. You hire when you have greater demand--not just because you have more profit. What type of economist makes these goofy theories up? Either they're trying to fool the public (who may not know any better) into giving big business more, or they've never actually been in business themselves.
