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I think you better do a little research on the Walton's and not believe all the crap you read that is published by the left wing media. They have plenty of full time employees for starters. It is simply a ***** many have because they are not unionized. WalMart offers good benefits and many employees have been with the company for decades. Yes, many also only work short hours, and do not all reap benefits, but have you seen considered some of the people they are willing to hire? Many of these employees are happy to have fobs. They are not always the most desired employees or have disabilities that make finding employment difficult. i
As has been explained numerous times here on city-data, that's a good thing. Here's why...
You want to know who REALLY gets those corporate profits? Guess who benefited? Guess who the US's biggest investor is? It's not some rich 1%-er. It's CalPERS, the California Public Employees' Retirement System. They need corporate profits to fund California's public employee retirees' pensions. The same is true in every city, state, and even the Fed Gov. We're talking police, fire department, teachers, etc., etc. They're all public employees and their pensions and retirement benefits could not be paid without corporate profits.
Quote:
"Can you name the biggest American investor? No, it's not Warren Buffett; as a matter of fact, it is not a person. It is CalPERS, the California Public Employees' Retirement System"...
Exxon
General Electric
Microsoft
Citigroup
Bank of America
Johnson & Johnson
Wal-Mart
Pfizer
Proctor & Gamble
JP Morgan Chase
Again, all those workers' and retirees' pensions and retirement benefits *could not be paid* without corporate profits, which benefit from low/no corporate taxes.
In order for them to "distribute all their money" they would need to liquidate assets. In doing so, you'll find there's a stark difference between Market Value and Salvage Value.
Sometimes. But if I sell $10k in JNJ on Monday that I bought for $5K, after I pay $10 in brokerage fees, I might owe 10% long term cap gains on $5K in gains. $9,490 not what I consider "salvage value". And depending on my taxable income in the year I sell, I may get $9990 back.
In theory I could have $2 million in a retirement fund, half of which is basis, and receive $150,000 in an annual disbursement and pay zero taxes, since only half would qualify as income and my effective tax rate would be in the 15% bracket filing jointly. Long term cap gains under 75,300 (15% bracket) is taxed at zero percent and my state does not tax retirement income.
As has been explained numerous times here on city-data, that's a good thing. Here's why...
You want to know who REALLY gets those corporate profits? Guess who benefited? Guess who the US's biggest investor is? It's not some rich 1%-er. It's CalPERS, the California Public Employees' Retirement System. They need corporate profits to fund California's public employee retirees' pensions. The same is true in every city, state, and even the Fed Gov. We're talking police, fire department, teachers, etc., etc. They're all public employees and their pensions and retirement benefits could not be paid without corporate profits. The Ten Largest Holding of CalPERS, the Biggest U.S. Investor
Again, all those workers' and retirees' pensions and retirement benefits *could not be paid* without corporate profits, which benefit from low/no corporate taxes.
Big deal, they'll just have to accept lower rates of return, and adjust their contributions accordingly.
You've posted this several dozen times, it just isn't the silver bullet you seem to think. (Also that $27t includes real estate, public bonds, foreign stock, etc. which are not relevant to the domestic corp. tax rate.)
I would feel that there was no need to study or to advance in life, no reason to set up a business or be entrepreneurial.
I think innovation and advancement in many areas would be curtailed as there would be no point.
However I don't think this will realistically happen across the globe, and if any one country tried it then the money and jobs would just be moved out of that country along with the talented, intelligent and ambitious.
Big deal, they'll just have to accept lower rates of return, and adjust their contributions accordingly.
You've posted this several dozen times, it just isn't the silver bullet you seem to think. (Also that $27t includes real estate, public bonds, foreign stock, etc. which are not relevant to the domestic corp. tax rate.)
I never said it was a "silver bullet." The point is that if corporations earn less in profits and/or are taxed more, tens if not a hundred million or more Americans will be plunged into abject poverty in retirement.
The point is that if corporations earn less in profits and/or are taxed more, tens if not a hundred million or more Americans will be plunged into abject poverty in retirement.
Why should I give away what I made so many sacrifices for and worked so hard for to those who did not make sacrifices or did not work as hard or who just made bad decisions?
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