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tax the shit out of rich and corporations
Posted by: troofer ()
Date: October 18, 2020 11:58AM

Taxing the 'wealthy" and corporations? Sure, go for it.

France's wealth tax contributed to the exodus of an estimated 42,000 millionaires between 2000 and 2012, among other problems. The French president Emmanuel Macron killed it.

See, here's the problem with implementing a punishment for success:

Corporations don't pay taxes. Corporations pass through taxes onto the consumer through price of the goods and services. If you increase the corporate tax, you will increase the price you pay to buy stuff.

You may feel like you are making people pay their fair share. In reality, you are just taking more money out of your own pockets with the price increase and tax on the price increase.

Don't let politicians tell you that they are going to somehow do you a favor. You will be the ones paying for it.

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Re: tax the shit out of rich and corporations
Posted by: skjracgeh ()
Date: October 18, 2020 12:46PM

good read from the taxfoundation

Conclusion
The Tax Cuts and Jobs Act reduced the federal corporate income tax rate from 35 percent, the highest statutory rate in the developed world, to a more globally competitive 21 percent. This significant change is what drives the projected economic effects of the TCJA, which include increased investment, employment, wages, and output.

Given the positive economic effects of a lower corporate tax rate, lawmakers should avoid viewing the corporate income tax as a potential source of raising additional revenue. Raising the corporate tax rate would walk back one of the most significant pro-growth provisions in the Tax Cuts and Jobs Act, and reduce the global competitiveness of the United States. Economic evidence indicates that it is workers who bear the final burden of the corporate income tax, and that corporate income taxes are the most harmful for economic growth—raising this tax rate is not advisable.

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Re: tax the shit out of rich and corporations
Posted by: You are like a broken record ()
Date: October 18, 2020 01:03PM

More of the same right wing bull shit. The taxfoundation is a right wing anti-tax organization. The benefits from the TCJA came mostly from the massive deficit spending that came about by decreasing tax revenue while holding spending almost unchanged. Raising income taxes is not like increasing sales taxes. It will only affect prices to the extent corporations have the ability to control prices, which most don't. The example of the failure of the French wealth tax ignores that moving within the EU to avoid taxes involves little more than moving from one state in the U.S. to another. Plus wealth taxes are a bitch to administer.

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Re: tax the shit out of rich and corporations
Posted by: troofer ()
Date: October 18, 2020 01:07PM

You are like a broken record Wrote:
-------------------------------------------------------
> More of the same right wing bull shit. The
> taxfoundation is a right wing anti-tax
> organization. The benefits from the TCJA came
> mostly from the massive deficit spending that came
> about by decreasing tax revenue while holding
> spending almost unchanged. Raising income taxes
> is not like increasing sales taxes. It will only
> affect prices to the extent corporations have the
> ability to control prices, which most don't. The
> example of the failure of the French wealth tax
> ignores that moving within the EU to avoid taxes
> involves little more than moving from one state in
> the U.S. to another. Plus wealth taxes are a
> bitch to administer.


I'm pretty sure Biden is going to be elected next month. When he is elected and increases corporate tax rates, I will come back to this thread mainly to tell you I told you so and to tell you to fuck yourself.

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Re: tax the shit out of rich and corporations
Posted by: jsdhdfshgfej ()
Date: October 18, 2020 01:13PM

You are like a broken record Wrote:
-------------------------------------------------------
> More of the same right wing bull shit. The
> taxfoundation is a right wing anti-tax
> organization. The benefits from the TCJA came
> mostly from the massive deficit spending that came
> about by decreasing tax revenue while holding
> spending almost unchanged. Raising income taxes
> is not like increasing sales taxes. It will only
> affect prices to the extent corporations have the
> ability to control prices, which most don't. The
> example of the failure of the French wealth tax
> ignores that moving within the EU to avoid taxes
> involves little more than moving from one state in
> the U.S. to another. Plus wealth taxes are a
> bitch to administer.


Corporate taxes are very different than income taxes and sales taxes. Try reading the original post again. Raise the corporate tax, and you increase the cost of doing business. This cost is passed onto the consumer. As consumer price increases, sales tax paid is based on price (6% of 100 = $6 tax paid; 6% of $200 is $12 tax paid). And, the rich do have the option to move to another country if they choose. The government cannot prevent that.

This isn't right wing. This is just simple math and common sense.

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Re: tax the shit out of rich and corporations
Posted by: BS~~ ()
Date: October 18, 2020 01:26PM

You are like a broken record Wrote:
-------------------------------------------------------
> More of the same right wing bull shit. The
> taxfoundation is a right wing anti-tax
> organization. The benefits from the TCJA came
> mostly from the massive deficit spending that came
> about by decreasing tax revenue while holding
> spending almost unchanged. Raising income taxes
> is not like increasing sales taxes. It will only
> affect prices to the extent corporations have the
> ability to control prices, which most don't. The
> example of the failure of the French wealth tax
> ignores that moving within the EU to avoid taxes
> involves little more than moving from one state in
> the U.S. to another. Plus wealth taxes are a
> bitch to administer.


Except, because our tax system is so progressive, half the people pay no income tax after adjustments. So they keep voting for free shit knowing they'll never pay for it.

Time to flatten the tax code for "fairness".

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Re: tax the shit out of rich and corporations
Posted by: Farthington Henceroth IV ()
Date: October 18, 2020 05:13PM

There will be no effective additional taxing of wealthy residents such as myself. Much of my revenue is allocated through various entities that enjoy favorable status generally. We pay a significant amount of tax to the US today, however any attempts to increase our burden shall result in the re-domicile of entities. There are many simpler ways to express this concept to the lay public, but most politicians understand regardless of pledges from the lectern.

You can have some of something or all of nothing.

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Re: tax the shit out of rich and corporations
Posted by: qvir ()
Date: October 18, 2020 09:02PM

jsdhdfshgfej Wrote:
-------------------------------------------------------
>
> Corporate taxes are very different than income
> taxes and sales taxes. Try reading the original
> post again. Raise the corporate tax, and you
> increase the cost of doing business. This cost is
> passed onto the consumer. As consumer price
> increases, sales tax paid is based on price (6% of
> 100 = $6 tax paid; 6% of $200 is $12 tax paid).
> And, the rich do have the option to move to
> another country if they choose. The government
> cannot prevent that.
>
> This isn't right wing. This is just simple math
> and common sense.

I agree with the first sentence, but not with the rest. Consumer prices will go up based on a company's ability to dictate a higher price. They don't necessarily go up based on a company's higher cost of doing business. They didn't drop simply because were cut.

With all the bitching about corporate tax rates the truth is that except for certain personal service corporations they are not a big factor. Most of a corporation's income gets offset by business related expenses, many of which can be manipulated. The amounts look big only because the dollars these corporations bring in are huge.

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Re: tax the shit out of rich and corporations
Posted by: who ()
Date: October 18, 2020 10:49PM

who do you think will pay for all the handouts? YOU!!!! the taxpayer. free lunch to kids arriving in sanctuary county will be supported by YOU. their families will be supported by YOU! look at the cities that are run by liberals. they have been burned and looted by people pretending to support BLM. they are full of legally stoned people living in tents and pooping on sidewalks. defunding the police in these poorly run cities will make the poorly run city worse and people will flee. the offenders will misbehave, video a snippet when police show up, then get the policeman fired. where is the video of the offender breaking the law? put all the law breakers, stoners, handout recipients, and lazy people in one city, let them unlimited businesses to loot, encourage freedom of pooping, unfund the police dept, let the politicians figure out how to get tax money out of them, and let them govern as they see fit. dedicate one fake news station, send out the dumb reporters, given them unlimited air time to report on the plight of stoners, law breakers, sanctuary handout recipients, and looters. may they all be live happily ever after in the land of their creation so that law abiding, tax paying people can live in peace.

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Re: tax the shit out of rich and corporations
Posted by: Trump 2020 ()
Date: October 18, 2020 11:11PM

I'd totally be okay with a special tax for Jeff Bezos, Cuckerburg and Jack Dorsey. If Jeff wants to run his mouth through WaPO send the fucker a nice big tax bill.

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Re: tax the shit out of rich and corporations
Posted by: Payroll tax ()
Date: October 18, 2020 11:59PM

BS~~ Wrote:
-----------
>
> Except, because our tax system is so progressive,
> half the people pay no income tax after
> adjustments.

This is the biggest lie out there. The working poor still pay payroll tax and No, I don't have to write a check to the IRS at the end of the year, and, Yes, I get a 'refund' of a few hundred dollars, but I've already paid thousands of dollars. As a white male with no mortgage and no children, my income is taxed at 33% and that money is gone from my paycheck before I get paid.


So, no. I won't cry if the people who make tens of millions of dollars a year by moving their money around get taxed a lot more.

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Re: tax the shit out of rich and corporations
Posted by: 7knex ()
Date: October 19, 2020 12:16AM

Payroll tax Wrote:
-------------------------------------------------------
> BS~~ Wrote:
> -----------
> >
> The working poor still pay payroll tax


As they should. They are the one's that are most likely to demand government assistance in one form or another. No free rides. My kid doesn't get free breakfast and lunch at school. I pay to feed her. My kid doesn't get a bag of groceries to take home Friday afternoon. I go grocery shopping. My kid takes a test, I pay. Poor kids don't. I paid the maximum amount of tuition for SACC while other kids went for basically nothing. Yet, I still pay upwards of 30% of my income to taxes.

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Re: tax the shit out of rich and corporations
Posted by: 6mhtm ()
Date: October 19, 2020 12:41AM

https://www.yahoo.com/money/boomers-savings-would-only-last-seven-years-in-ideal-retirement-160528666.html

"About 2 in 3 baby boomers believe they would rather spend money in retirement than leave an inheritance for their children."

Hahahahahahahaha! That's fucking great. Your children should take you out into the woods and let you die rather than putting you in a retirement home when you get dementia/alzheimers/cancer. Boomers....the most selfish generation EVER. They ruined it for everyone else and are going to continue to be bitches till they die. $135,000 a year in retirement? WTF?

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