Forum Post: Stop taxing people, and get all taxes from Corporations
Posted 13 years ago on Oct. 22, 2011, 8:53 p.m. EST by JamesS89118
(646)
from Las Vegas, NV
This content is user submitted and not an official statement
Taxing people use to make sense, but now few people work and Wall Street has all the money. When you tax the people working on a billion dollar hedge fund you tax 15 people. When you tax Ford workers you are taxing hundreds.
We must tax where the money is and it will never be in the people's hands in an Information and Services Economy.
You may have a point if......
Raise taxes on capital gains to 35% on financial instruments only and lower payroll taxes and personal income tax.
Taxing corporations that manufacture tangible goods (non-financials) would only "hide" the tax in the products that we purchase. Remember...payroll taxes are just another "line-item cost" that is calculated when a company "costs" a product. Payroll taxes are part of COGS (Cost Of Goods Sold).
However,don't fool yourself into believing that there won't be some negative "unintended consequences" to raising the capital gains tax. If inflation is low, and the economy bad.....you can expect to see a reduction in capital investment until consumer spending rises to an acceptable level. Then.....no good capitalist would keep his money out of the market for very long.
ty for your reply. I don't find the argument that cost's get passes on to be very powerful. As you typed above, it's CODB.
We saw great pain in the rust belt when changing from a Manufacturing economy to a mixed Services and Manufacturing economy. And I believe we are now leaving the Services and Manufacturing economy and moving into a Services and Information economy. Resulting in fewer workers needed and few working at all.
Taxing workers is a losing game as we change economies.
I own a small manufacturing company. I am quite aware that ALL costs must be "recovered" plus a "what-the-market-will-bare" profit margin. Without this, nobody will remained employed very long. Taxes (all Taxes) are "passed-on" to the customer. The only argument against this would be corporate income tax, sense it is calculated from the "bottom line" (net profits). However, an "expected return" (this is variable) "after taxes" will always be considered by the stockholders, and added to the "profit margin" side of the equation.
I'm glad to have your input. Yet I suspect you will do everything you can to avoid the added costs of hiring additional full-time/with benefits employees. This is natural under Capitalism. However, the taxes to educate, keep healthy, and retire employees must come from those that have money and uneducated, unhealthy or retired people don't have the money to be taxed. A 15% tax on zero income is zero.
Hedge funds and tomorrows X, Y or Z funds will need to be taxed.
I think that we agree. Obviously...there are a few ways to "skin a cat" (no offense to animal lovers here).
My real point is that raising payroll taxes would only hurt the poor and middle class (the 99%) on products that they depend on to survive. Food...gas...etc. A "targeted" tax base would we a better way, but that is what we currently have, and you can see how quickly that gets out of control.
lol, Well typed!!! Way out of control lol! Yes I think we can find common ground. And I did not imagine the money coming from payroll taxes, as that's a shrinking pool. I wish you well SmallBizGuy. Cheers
I believe the international bank has the money
this thread is closed
Any tax on a corporation simply gets passed on as higher prices to its customers.
what is your point? And please confirm you read what I wrote.
I think his point is that when you tax corporations, you ultimately tax consumers because corporations just pass on the tax increases in the form of price increases for their products.
Ah yes, ty for retyping that. To be clear, this logic prohibits profits.
How so?
The logic that corps should not be taxed 'cause it raises prices also applies to profits and exec pay. In a logical context.
I am not sure I understand what you are saying.
That's too bad (for me). Your comments tend to show evidence of thought.
Haha thanks, I think.
:) Cheers Mooks.
They either pass the price directly to the consumer or get bailout, or go bankrupt and lose all the jobs they provided.
Right on. Politicians on both side need to start practicing fiscal responsibility, not spend an tax.
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Great Idea! I'm sure taxing Corporations won't raise the price on the products we buy, or discourage manufacturing and job growth in America! LOL!
You clearly did not read what I typed.
Again, the tax base of people is shrinking. Got that? Fewer people working means a smaller tax base right?
And Wall Street is the most profitable industry we have, right?
So we should tax where there is money right?
Actually I am able to read. First of all, we shouldn't be spending $3.6 trillion dollars a year for government(Politicians, especially liberal ones-but even conservative ones as well) through away fortunes without batting an eye. What you don't seem to get is that increasing the baseline-the amount it cost to produce goods or services hurts EVERYONE, not just those being Directly taxed. When taxing businesses and corporations you don't see the taxes because they are built into the cost of the product or service you are buying. Instead of viewing the rich as an endless source of money(they aren't) we should, as a country, practice fiscal responsibility. In other words, politicians should stop spending money they don't have, and can't afford to spend. When I go to a grocery store, I pinch every penny I can, yet stupid politicians, especially liberal ones throw away billions.
Again you did not address the shrinking tax base. You are ranting about government.
Again, you totally missed the point. Killing business by taxing them to death won't help increase the shrinking tax base. Not spending money out the Wazoo will help America's financial problems
Corporations can not be killed. Corporations do not experience death. On topic, what or who would pay for war?
James, go to bed, grow a brain and do something more productive with your life than being an idiotic blog stalker.
You should read some Freud before leaving your parents house.
You should get a life you sick pervert.
ty Zombie