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[JurisDictum]

Originally Posted by Supreme [You must be logged in to view images. Log in or Register.]

Corporations do not get rich..shareholders get rich..and most shareholders are the middle class through mutual funds and investments (retirement) accounts.

To put it simply Corporations do not pay taxes unless they sell something. If a corporation does not sell anything and does not generate any revenue then they pay 0 tax. Tax breaks for corporations improve shareholders value, increases employment and create a welcoming business environment.

But i see you are fully subjective in your view about this issue and it does not matter what anyone else could say to convince you otherwise.

It goes Sale (- sales tax) --> Revenue (- business expenses + corporate tax) --> Profit/shareholders (who then get personally taxed).

So no, corporate taxes are not the same as individual taxes. That was my point you seem to be trying to argue with. Yes corporate tax can cut into the shared pie of profit (although not if your claiming they just "pass on" corporate taxes to the little guy). But its not the same as taxing your individual piece of pie.

But if taxes are to be progressive (i.e. the rich pay more proportion of their income than not so rich), they have to be done individually. Otherwise you have business picking up the tab for shareholders making millions dollars off of the business.

By that I mean, taxes come from somewhere right? Right now, the system is set up to tax a business instead of a person (to the degree that we relay on corporate tax). I have said in the past its good to shift taxes off of business and onto people.

What Trump is doing is "starving the beast" though. It's a Reagan strategy where you purposefully create a revenue shortage so you have an excuse later to cut otherwise popular programs.

He cut the corporate tax rate without replacing them properly. Just empty trickle down promises.

Edit: I'm also not a big fan of sales tax. And it should be illegal not to include tax in advertised prices. I'm sick of the "fake price" on everything. If you live in Oregon for awhile you'll see how nice it is not to be nickle and dimed all day.

[Lojik]

Price elasticity will affect how much of a tax is eaten by consumer or producer, yes, but even if a producer eats a higher percentage of the tax dollar cost you'll still have to pay for that tax in other means, whether it's reduced product availability, reduced quality, increased transactions costs, etc.

On the corporate tax yes I kind of agree, the effects of a higher corporate tax rate are probably less clear than one would imagine between write offs for business expenses and transfer pricing practices of some of the biggest US corporations. For smaller corporations that can't navigate the US tax code as well the corporate tax rate is more of a burden and I do think it hinders small business. I agree as well that taxing businesses isn't as effective as targeting individuals.

I'd imagine there are companies that would find it worthwhile to come back to the US to incorporate, so the lower corporate tax rate would be somewhat offset with a higher pool to tax from.

[JurisDictum]

Let me be clear. The best thing Trump did in this plan was lower corporate tax. I just think the rest of it stunk. He is kind of setting up the Dems to look like massive taxers. IDK wtf I should expect though.

Here is the pragmatic reason we have corporate taxes: We get actually get them. When you go after people's individual money -- they take it more personal. So it can be harder to keep up with the bullshit and actually get them to pay up.

So Trump did the easy part and not the hard part.

[Raavak]

I'm sure some corporations will return from their foreign tax havens, but I'm not sure how many or what impact that will make.

Concepts like deadweight loss to taxes and the Lauffer Curve have validity, but the amount of revenue to the treasury the tax cuts will produce is anyones guess.

[JurisDictum]

The thing to keep in mind about global competition when it comes to corporate tax rates...The main factor corporations consider is the cost of doing business in the country. Corporate tax rates are just one lens of expense. America is going to be more expensive because of things like wage rates, regulation, and simple cost of location.

So I'm definitely skeptical its going to end up with a net balance on tax revenue. The deficit is totally going up. The Republicans aren't going to shut up about this once their out of power again.

Edit: Generally rich countries provide highly educated overseers for the upper class's investment projects...also known as upper and middle management. Also, skilled labor that takes a great deal of capital to do (making apple chips). This is how we maintain our trade advantage. We are not doing as well at keeping up as the more "socialist" countries, however (Germany Sweden etc). I use "" because they are actually capitalist countries with a dash of socialism in them.

My edit went though after Raavak's comment

[Raavak]

The USA labor force is one of the more skilled and educated in the world. Most of what is produced there still is higher tech than what you might get out of Malaysia or China. This negates the some of the effects of the higher cost of doing business there. You aren't going to get Woopie Cushion manufacturers back. But you might entice, say, GE Healthcare.

I know Ford Motors cancelled plans to build a plant in Mexico. This affected me personally because we were supplying die parts for there. But they returned to re-order those for a US location. We might see more along these lines.

[hyejin]

Originally Posted by Supreme [You must be logged in to view images. Log in or Register.]

Corporations do not get rich..shareholders get rich..and most shareholders are the middle class through mutual funds and investments (retirement) accounts.

To put it simply Corporations do not pay taxes unless they sell something. If a corporation does not sell anything and does not generate any revenue then they pay 0 tax. Tax breaks for corporations improve shareholders value, increases employment and create a welcoming business environment.

But i see you are fully subjective in your view about this issue and it does not matter what anyone else could say to convince you otherwise.

quote this post if u know what supreme looks like and find it funny

[Mistle]

Shout-out to political mastermind Steve Bannon for losing Alabama to a pro-choice Democrat.

Shoulda stuck to selling plat, Steve.

[Pokesan]

#notmysenator #resist

[JurisDictum]

Originally Posted by Mistle [You must be logged in to view images. Log in or Register.]

Shout-out to political mastermind Steve Bannon for losing Alabama to a pro-choice Democrat.

Shoulda stuck to selling plat, Steve.

https://media.giphy.com/media/CoDp6NnSmItoY/giphy.gif