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Nice to see conservatives agreeing that tax breaks to corporations shifts the tax burden to the middle class.
Double speak much?
Sensible individuals don't believe tax breaks should go to just one player in an industry and bailouts should be for none.
The state playing favorites, distorts the market.
Nice to see conservatives agreeing that tax breaks to corporations shifts the tax burden to the middle class.
Yea, they got caught. But right after your post came the lame explanation from someone about how that's not what they're REALLY saying, when that's EXACTLY what they're saying.
BZZZ fail again.. tax breaks allow companies to lower the cost of their products and better compete. With lower prices, you LOWER the burden on the middle class.. not raise them..
its a hidden tax, but I'm not amazed to see you supporting policies that are harmful to the very individuals you proclaim to be supporting.. General math is difficult to some I see...
By lowering taxes the revenue drops. Where are the cuts to offset this ?
When the taxpayer has to fill that void that is NOT a good move is it ?
These corporations are rewarding their "boyz" at the top with 30-40-50% increases in their pay and stock options. They are not creating all these new jobs..that is their propaganda to DC to get the breaks. The money is NOT flowing back into the economy.
BTW..GM did NOT lower the price of their vehicles so there are no "lower prices".
$25 billion taxpayer money is stuck in the stock which isn't high enough for the government to sell and recoup.
$45 billion tax break the USG gave GM.
$14 billion domestic tax break.
That adds up to $84 billion in potential total losses.
When corporates don't pay their taxes the revenue has to come from somewhere else..namely Joe and Jane Mainstreet.
84 billion? Peanuts. You saved an American corporation. You should be happy.
Afghanistan alone costs 2 billion a week. Cry about that. After all, what are we getting in exchange for that money? Which Americans are the Afghans employing?
$25 billion taxpayer money is stuck in the stock which isn't high enough for the government to sell and recoup.
$45 billion tax break the USG gave GM.
$14 billion domestic tax break.
That adds up to $84 billion in potential total losses.
When corporates don't pay their taxes the revenue has to come from somewhere else..namely Joe and Jane Mainstreet.
This is from the secong half of TARP that was left for Obama's to use for housig as approved by teh US congress;reamember. Gues its like the stinulus which was for infrastructure creating huge number of jobs. Shows what happens when you give control of money to change.
84 billion? Peanuts. You saved an American corporation. You should be happy.
Afghanistan alone costs 2 billion a week. Cry about that. After all, what are we getting in exchange for that money? Which Americans are the Afghans employing?
That's only ONE example.
Now rattle off all those banks that got trillions of USG "loans".
The Fed just released their list..we gave taxpayer money to foreign banks..money we don't have, money we printed out of thin air.
By lowering taxes the revenue drops. Where are the cuts to offset this ?
A corporation has 3 different possibilities
1) they operate at a loss, no taxes due, not up for discussion
2) a corporation operates at a break even, again, no taxes due, not up for discussion
3) a corporation operates at a profit, so this is the section you are asking about the cuts? Dont need any.. the profits get passed onto the investors and owners who pay taxes... It just changes who pays them, it doesnt change the amount of revenues. In fact it could raise revenues because individuals dont get special exemptions like businesses do and have a higher effective tax rate.
Quote:
Originally Posted by HappyTexan
When the taxpayer has to fill that void that is NOT a good move is it ?
There is no void.. Individuals have a higher tax rate than businesses..
Quote:
Originally Posted by HappyTexan
These corporations are rewarding their "boyz" at the top with 30-40-50% increases in their pay and stock options.
All of which are taxed..
Quote:
Originally Posted by HappyTexan
They are not creating all these new jobs...
Stop with the talking points and think for yourself.. The topic isnt if they are creating jobs because that has nothing to do with the topic. In fact if they create jobs, this LOWERS their taxes because it decreases their profits.
Quote:
Originally Posted by HappyTexan
that is their propaganda to DC to get the breaks.
Funny.. did you see the latest unemployment figures, along with the CEO surveys indicating 50% of the corporations plan to hire in the next 6 months?
Quote:
Originally Posted by HappyTexan
The money is NOT flowing back into the economy.
You just said they were rewarding the executives with pay and options. That IS flowing the money back into the economy.. You are disputing your own statements. In addition, with a high tax rate, you are actually encouraging them not to put it back into the economy. Warren Buffet stopped paying his investors dividens because of the tax rate in america. You see its the tax rate STOPPING the money from cycling..
Quote:
Originally Posted by HappyTexan
BTW..GM did NOT lower the price of their vehicles so there are no "lower prices".
I could swear that I saw the CEO of GM on TV last year bragging on how they paid back every dime.
Actually they borrowed more money from the government, in order to pay back the government. Yes, some stupid people fell for it.. You'll still here them swearing we were paid back in full...
Autos Insider | U.S. boosts estimate of auto bailout losses to $23.6B | The Detroit News (http://www.detnews.com/article/20111114/AUTO01/111140434/1361/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B - broken link)
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