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Because the states have to make up the revenue they will be losing by giving tax cuts to the corporations.
A simple example:
Corporation A used to pay $500,000 per year in taxes. That money paid for some number of people on a police force. With the tax cut, the corporation will now pay $250,000 per year.
So, $250,000 less per year for that police force.
That leaves two options: either some of those people lose their jobs or the money is raised some other way, most probably(as per the link) via higher property taxes, higher state income tax, higher sales tax or via cuts to services - schools, mental health care and so forth.
The answer is to cut boondoggle services. Every state has a ton of them.
The answer is to cut boondoggle services. Every state has a ton of them.
Like Education which is facing huge cuts here in Texas? Extra Credit: Texas education leaders bracing for tough budget cuts
Jeeez, every time there is a need for cuts the Repubs go after Education as one of their first targets. Sure tells me what their priorities are and it sure isn't our children or the future of this nation.
Casper
[quote=mlassoff;18319067]Sure helping business is great. I am a small business owner myself. Strong small business is probably the strongest driver behind stable local economies.
However, it's not this simple. Choices have to be made , and my inclination would be to help the struggling middle class before helping business. The middle class is being squeezed simultaneously by rising commodities prices, rising oil prices, a budget crisis that's (realistically) going to result in both loss of services and higher taxes.
Instead of continuing to squeeze the middle class, I'd like to see the loopholes removed that allow corporations to skip out on paying their fare share of taxes. Realistically, I'd also like to see taxes raised a bit on those making $250K a year an up.
If you're in the middle class, you really should think about supporting what I say above instead of mindlessly supporting a pro-business mantra that benefits the wealthy investment class at the expense of yourself.[/quote]
Why is that so many people who make opinion statements find that they have to degrade others that might disagree with them?
What makes you such a genius that we should listen to you?
The best way to help the middle class is to help business which provides all those middle class jobs.
You list 3 things, commodity prices. What do you want price controls?
Rising oil prices. How do you expect to get them lower?
If we let the dems have their way in NJ, the middle class would have had tax hikes. Christie is keeping them from doing it. So that blows your myth.
Not quite yet:
"Property taxes in New Jersey jumped 4.1% on average in 2010, as local governments dealt with cuts in state subsidies and fallout from the real-estate crash.
The average residential property-tax bill—which includes town, county and school taxes—increased to $7,576 in 2010 from $7,281 in 2009—the biggest rise since 2007.
...
Residents in 21 towns saw double-digit increases in 2010, and the Christie administration approved 50 towns' requests to increase taxes above the cap."
Like Education which is facing huge cuts here in Texas? Extra Credit: Texas education leaders bracing for tough budget cuts
Jeeez, every time there is a need for cuts the Repubs go after Education as one of their first targets. Sure tells me what their priorities are and it sure isn't our children or the future of this nation.
Casper
And Texas already spends less per capita on education than almost any other state. What will possibly be left after these cuts?
Because the states have to make up the revenue they will be losing by giving tax cuts to the corporations.
A simple example:
Corporation A used to pay $500,000 per year in taxes. That money paid for some number of people on a police force. With the tax cut, the corporation will now pay $250,000 per year.
So, $250,000 less per year for that police force.
That leaves two options: either some of those people lose their jobs or the money is raised some other way, most probably(as per the link) via higher property taxes, higher state income tax, higher sales tax or via cuts to services - schools, mental health care and so forth.
By your logic, the government should increase corporate income tax. by increasing corporate income tax, it will decrease the working class tax?
you should write to your representation and suggest that, by raising corporate income tax, say to 40% it will solve all problem. It will reduce the working class tax to 0%. Why? Because no one will have a job, unless it is a government job. Why would any want to take 100% risk so the government can take 80% (40% fed + 40% state)?
Beside, government doesn't need production, so they do not care about making profit. So all they can do is spending money. Why would you want to give more money to the government?
Yeah, they're serious about fiscal austerity as long as the poor and middle-class pay for it.
.
EVERYONE should pay, not just those you want to punish for their success.
PS, the ones you mock are also called EMPLOYERS, now I don't know if you found some homeless person who can cut you a paycheck or if you are on the dole, but your view of Employers is what makes them not want to be in business or leave the states.
You should get a cliche award for your rant on Corporations IMO.
Sure helping business is great. I am a small business owner myself. Strong small business is probably the strongest driver behind stable local economies.
However, it's not this simple. Choices have to be made , and my inclination would be to help the struggling middle class before helping business. The middle class is being squeezed simultaneously by rising commodities prices, rising oil prices, a budget crisis that's (realistically) going to result in both loss of services and higher taxes.
Instead of continuing to squeeze the middle class, I'd like to see the loopholes removed that allow corporations to skip out on paying their fare share of taxes. Realistically, I'd also like to see taxes raised a bit on those making $250K a year an up.
If you're in the middle class, you really should think about supporting what I say above instead of mindlessly supporting a pro-business mantra that benefits the wealthy investment class at the expense of yourself.
How big of a payraise did you give your employees while you were keying this blur? Ooh I see.. you want government to do what you are unwilling to do..
By your logic, the government should increase corporate income tax. by increasing corporate income tax, it will decrease the working class tax?
you should write to your representation and suggest that, by raising corporate income tax, say to 40% it will solve all problem. It will reduce the working class tax to 0%. Why? Because no one will have a job, unless it is a government job. Why would any want to take 100% risk so the government can take 80% (40% fed + 40% state)?
Beside, government doesn't need production, so they do not care about making profit. So all they can do is spending money. Why would you want to give more money to the government?
Tax is a confiscation of wealth.
I don't know that the government should increase corporate taxes, but I do think, at the very least, the government should collect what it is owed.
The largest corporations in many cases paid little or no taxes at all last year or the year before, despite enormous profits. Then on top of having no tax burden, they get tax cuts, ostensibly to create jobs, but, the jobs ain't coming are they? And, not only are the jobs not coming, but, this very policy of rewarding corporations for the remote possibility that they will create jobs is costing people actual jobs each and every day.
Here is an rather elegant visual showing the shifting tax burden over the last century. This pertains to individuals, rather than to corporations, however, since many of those at the top of pyramid, so to speak, have benefited directly from corporate profits, I think it relevant to our discussion:
Apparently, in a state like WI, spending cuts mean spending increase in wealthier districts, appropriately called wealthfare. Nevermind the republican/conservative idea of going for reducing income as a fix to address debt and deficit issues.
They can't tax enough to fund all of our spending anymore. There aren't enough "rich" out there to do it.
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