Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Only a fool would defend the obscene profits Oil companies make! They don't need a reason to increase "gas prices" since we as Consumers are held hostage and beholden to them!
The only thing that will make Oil companies drop their prices is a drop in consumption and that is coming!
You obviously did not read my OP. It contained nothing that defended oil company profits.
But for the record, oil company profits year in and year out are about seven percent of revenue which is about the same as other manufacturing industries.
So, gas prices are way up. Oil company profits are up. Oil companies take advantage of deductions that our government has determined will change their behavior.
So what does Obama propose??? Increase oil company taxes by removing the deductions. Now guess what happens when you increase taxes on oil companies????????
You guessed it. They INCREASE gas prices to cover the increased taxes.
Our fearless leader thinks we are dumb... and maybe we are, but not so dumb to believe his political rhetoric.
Raising taxes on oil companies will increase, not decrease, prices at the pump.
That's the same argument for not paying the minimum wage -- it will raise prices.
But before a company raises prices, it can do other things, like reduce outlandish executive salaries; get rid of the corporate jets; get rid of the gold plated faucets in the washrooms.
The argument that having corporations pay taxes raises prices is completely discredited in the real world.
How come this wasn't a problem years ago?
Corporate Taxes as a Percentage of Federal Revenue
1955 . . . 27.3%
2010 . . . 8.9%
Corporate Taxes as a Percentage of GDP
1955 . . . 4.3%
2010 . . . 1.3%
Location: By the sea, by the sea, by the beautiful sea
68,329 posts, read 54,400,252 times
Reputation: 40736
Quote:
Originally Posted by wjtwet
Who do you think will pay that corporate tax? do you think the corporation will not pass the loss of revenue on to the consumers. Fine talking point but the reality is we all will pay for a corporate tax. So in fact the Dem's want a regressive tax that makes the poor pay more
I ain't buyin', they still have to compete in the market place. Where's the guarantee they'll raise prices vs. cut into their bloated profits to maintain/increase market share? And spare us the BS there's any concern for the poor here.
SInce corporations have been granted the rights of a person why should they not have the responsibilities of a person, including paying taxes?
Corporations SHOULD pay taxes.
Let's just change our corporate tax code to that of Japan and Germany such that we can maintain high wages for our workers while rewarding those companies that maintain manufacturing locally and export.
Our current tax policy provides incentives to leave the country and does not favor those companies maintaining and expanding the US work force. Further, we have poorly negotiated trade policies in the form of NAFTA and China most favored trade status that have gutted our manufacturing.
Keep in mind that it was the liberals in the 70s, 80s, and 90s that were saying we needed to get rid of those dirty manufacturing jobs and change to a nice, clean, service oriented economy. They could not have been more wrong. I do believe that these were the same libs who were saying that we were entering a new ice age in the 1970s. Have liberals ever been right on anything? Maybe cutting pollutants in the 60s and 70s- that was a good thing, but that is about it.
Let's just change our corporate tax code to that of Japan and Germany such that we can maintain high wages for our workers while rewarding those companies that maintain manufacturing locally and export.
Our current tax policy provides incentives to leave the country and does not favor those companies maintaining and expanding the US work force. .
If we removed all corporate taxes they would have an incentive to move money and jobs to the US.
Only a fool would defend the obscene profits Oil companies make! They don't need a reason to increase "gas prices" since we as Consumers are held hostage and beholden to them!
The only thing that will make Oil companies drop their prices is a drop in consumption and that is coming!
Location: By the sea, by the sea, by the beautiful sea
68,329 posts, read 54,400,252 times
Reputation: 40736
Quote:
Originally Posted by steven_h
YOU were the one that made it a Republican thing, as if all Republicans wish to bow to corporations. Closing those loopholes for large companies, like Obamas friend GE, is only forcing them to pay the existing tax tables. Raising tax rates to an already broken system is rediculous. That was my point which you clearly ignored.
As I've said though, closing loopholes effectively does raises taxes. And no, the Dems certainly aren't innocent, both sides of the aisle cater to their special interests and IF we're lucky we get the scraps.
Quote:
Originally Posted by steven_h
People need to get off the Democrat/Republican infighting bandwagon and move to backing a Fair Tax, IMHO. As for Obama being dumber than dirt... not even close. The guy is smart enough to warn everyone of what he'd do and still got elected. Now that the spell is wearing off people are coming out of their comas, I hope.
And your solution would be?
Tax issues are nothing new, I well remember in the late '60s Nelson Rockfeller's tax returns being made public. At the time, I, as a just out of HS kid working a barely above minimum wage job paid more personal income tax at least one year than he did.
Excuuuuuuuuuuuuuuuuuuuuuuuuse me if I see something just a little out of whack with that picture.
If we removed all corporate taxes they would have an incentive to move money and jobs to the US.
I agree. We do not need to eliminate all corporate taxes, just be better than other nations.
We should be one of the lowest in corporate taxes and change to a "corporate consumption tax" which rewards exporters and employers of US citizens, while punishing importers and employers of citizens overseas. It is how the Germans and Japanese get around the issue of tariffs and not create trade wars while maintaining manufacturing jobs in their nation.
Location: By the sea, by the sea, by the beautiful sea
68,329 posts, read 54,400,252 times
Reputation: 40736
Quote:
Originally Posted by hawkeye2009
Corporations SHOULD pay taxes.
Let's just change our corporate tax code to that of Japan and Germany such that we can maintain high wages for our workers while rewarding those companies that maintain manufacturing locally and export.
Nice thought but it would probably require quite an adjustment of US corporate culture, not just a change in the tax code. Both Japan and Germany seem to lack the 'us vs. them' mentality between labor/management so prevalent in the US today. The vast difference between CEO/average worker payscales may contribute to that, at least when it's not performance based.
Quote:
Originally Posted by hawkeye2009
Keep in mind that it was the liberals in the 70s, 80s, and 90s that were saying we needed to get rid of those dirty manufacturing jobs and change to a nice, clean, service oriented economy. They could not have been more wrong. I do believe that these were the same libs who were saying that we were entering a new ice age in the 1970s. Have liberals ever been right on anything? Maybe cutting pollutants in the 60s and 70s- that was a good thing, but that is about it.
Maybe I had a better time than I thought but I don't remember this alleged liberal push to eliminate manufacturing jobs. Example(s)?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
but I don't remember this alleged liberal push to eliminate manufacturing jobs. Example(s)?
