Liberty
Libertarian Minded
No rich people own companies?
Top Nine GOP Econ Lies!
- Thread starter signalmankenneth
- Start date
No rich people own companies?
Good Luck
New member
I know what you mean about businesses passing on their taxes to the consumer. That is why I think we should limit business taxes to fees that cover the costs of the public assets they use, and nothing more.
However, how do the rich pass on their personal income taxes to the poor?
Mott the Hoople
Sweet Jane
How about if we increased corporate taxes but eliminated personal income taxes?
Liberty
Libertarian Minded
I owned a business(es) for more than 3 decades. I would raise my prices to try to make up for the loss I took on income taxes.
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Liberty
Libertarian Minded
Corperations don't pay income taxes.
They pass it on to you and me.
They're just a tax collector.
Dixie - In Memoriam
New member
You're kind of hitting and missing here. Who do you consider to be "the rich?" And by what criteria are you reaching that conclusion? Based on your personal perception of "rich?" Should people only be allowed to make the amount of money you believe is appropriate for them to make? Should anyone be able to take money from you if they think you have too much?
You know, I get the class warfare thing, I understand you see some big exec making a $75k bonus, and you think... that should be taxed heavily... but what you don't seem to think about is, that exec has a $2,000 mortgage payment to make, three kids in college who he is paying for their education... a wife with a $25,000 credit line on the Amex card... a $500 a month bill for security from Brinks... a $700 power bill... These people have expenses that you and I don't have, because we don't get $75k bonuses. Now, who are you to tell them they shouldn't get to live this lifestyle? Why do you think it is okay to take their money away from them and give it to someone else?
What about the guy who took out a business loan to start his company, and his reported income is $250k a year, but he's having to pay $120k a year back in loan payments, plus run his business? Is that person "rich" by your standards? What if some geek in his basement spends years making minimum wage, while he toils and sweats in his spare time, developing a new cleaner way to process plastics? Some huge conglomerate like Dow comes along, hands him a $1 million check for his work... why should he not be entitled to that money? You see, when you categorize people as "rich people" and start developing a stereotype for them, you fail to realize we are all individuals, we all have a story, we have difference circumstances, backgrounds, situations.
It's easy to stereotype "the rich" and rationalize this 'Robin Hood' mentality of the left, but the reality is, the guy who is earning $250k a year, is not living a life of luxury in a mansion with gold faucets and cash in the bathtubs... He is more likely, someone who busted his ass nearly all his life, raked and scraped enough money up to start a construction business, which due to his 80hr work weeks, is starting to pay off for him. A husband and wife who haven't had a vacation in 15 years, because someone has to run the business. Or a geek who lived in a basement, missed all the proms and social functions through school, because he was into chemistry and determined to solve a problem with plastics production? Maybe it is someone who's talent to do something others struggle with, has landed him a lucrative salary? Does that make it alright for you to go steal his money and give it to others?
There are thousands of individual scenarios here, but what is really fascinating is this.... the ONE scenario you will almost NEVER find when talking about income earners over $250k... is the stereotype! That fat bastard smoking a cigar he lit with a $1,000 bill.... bathtubs overflowing with cash... gold statues and marble floors... garage full of fine cars... yachts and private jets... THAT GUY, doesn't need to earn an income at all. He can literally avoid every bit of "income tax" you levy, because his wealth is already made. We currently have about $12 trillion of American wealth, out there in the rest of the world... foreign investments... shelters... capitalist ventures... etc. Income tax never touches a dime of that money, and never will.
The one thing you got right, was on corporate taxes. Except, we don't need to reduce them, we need to eliminate them completely! We should be a corporate tax-free nation. Can you IMAGINE how many international companies would be busting our doors down to open operations here? What's more... can you IMAGINE how much of the aforementioned $12 trillion in American wealth abroad, would start to come back home again? If that were to happen, job growth would be phenomenal! Hell, we might have to grant amnesty to illegal aliens just to fill the jobs!
Cancel 2018. 3
<-- sched 2, MJ sched 1
Mott the Hoople
Sweet Jane
Well fine. We'd have to pay more for goods and services but we wouldn't have to pay personal income taxes.
Liberty
Libertarian Minded
Good Luck
New member
You consider yourself among the rich?
And how does a 100 megabuck/yr big corporate executive pass HIS taxes on? Raise prices at Walmart?
Liberty
Libertarian Minded
No. I'm not rich at all.
They're taxes are calculated into their bonuses.
Think of it like a politician would. I want to make over a $100,000.00, so I'll pay myself $160,000.00.
Cancel 2016.2
The Almighty
which would be a very regressive tax code.
Bfgrn
New member
Lie #10
You clearly don't know anything about business, the real world and the marketplace. If I'm a smart businessman, I am ALREADY charging what the market will bear. If I COULD just raise my prices...I WOULD.
A good thread....it just might get you pinheads thinking a little.....
What is Liberty saying....????
Higher taxes causes inflation.....
What is pinhead bfgrn saying......???
Higher taxes means more unemployment.....
Republicans have been trying to drill these facts into democratic numbskull's for decades.....
High taxes suck......and this is only the tip of the iceberg.
Bfgrn
New member
Maybe you need a drill for the hole in your head. Republicans can squeal and shout their false arguments for centuries, it still doesn't make it anything but FALSE.
No REAL businessman who has a brain is going to raise prices, hire or fire based on his personal annual income taxes. He will ALWAYS make those decisions based on the market, his needs (increased production) and sound business practices. If any business COULD raise their prices, they WOULD TODAY. The only thing that limits pricing is the market and his competition in that marketplace. THAT is why we have anti trust laws. You have a child's brain.
Taichiliberal
Shaken, not stirred!
And once again, ladies and gentlemen, we have our intellectually impotent neocon parrot Bravo squawking away without fully understanding what the hell is going on (while avoiding the FACTS enclosed in the earlier link I posted).
"Allentown", was a Billy Joel song that used Allentown, PA as an allegory to describe how Reaganomics was screwing the country into the ground in the 1980's. Lehigh Valley's unemployment rate was about 11 percent in 1983, if I remember correctly, above the national average at the time....and workers were losing their jobs at Bethlehem Steel plant there. Reagan's gov't were the pointmen in resisting unions taking over failing companies.
We just went through 8 years of Reaganomics on steroids....and the neocon driven GOP has made it clear they are still on that disasterous path. How quickly they forget....and how ignorant of the FACTS braying jackasses like Bravo are. Here's a little dose of reality to burst this Bravo dummy's bubble:
Valley's jobless rate soars to new high
http://www.allbusiness.com/economy-economic-indicators/economic-indicators/12541171-1.html
Already, 37,500 local residents are out of work. That's the most since 1983, when pop artist Billy Joel was on the radio singing about "living here in Allentown, and they're closing all the factories down. Out in Bethlehem they're killing time, filling out forms, standing in line."
Applying for jobs or filing for unemployment checks is rarely done by standing in line anymore, but the situation is similar.
Some 20,000 Pennsylvanians are expected to exhaust their jobless benefits in mid-July.
Once again, Bravo wastes time and space trying to bluff past the fact that Bravo just doesn't know WTF is going on. All that moot stuff by Bravo with just a little supposition and conjecture about Bethlehem Steel. Bravo failed as usual.
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USFREEDOM911
MAKE AMERICA GREAT AGAIN
Good Luck
New member
For someone so absolutely clueless, you spew your disparagements of intelligence rather freely.
A small business persons net income goes down due to rising taxes, they are going to make reasonable attempts to minimize the effect on their standard of living. That means either increasing revenues from their business, or decreasing costs. If they are already at or near the optimum peak for pricing of their products, then they will cut costs, reducing staffing as much as possible, reducing benefits, etc. If they are anticipating having their net personal income go down sometime in the near future, they will put off items that would increase their business costs - such as hiring that extra cashier that would have allowed them to take more time off - they'll cover the hours themselves.
Multiply that effect by 10+ million small businesses across the country, and the net effect on the total economy is far from the "no change" yuou morons of the jackass party keep claiming.
The only time the above does not hold true is if the business owner is anticipating the ability to offset tax increases by increased revenues from growth. HINT: in an economic downturn, very few businesses are anticipating increased revenues from growth.
37,500 local residents are out of work. That's the most since 1983?
Yes,...but 37, 500 residents out of work in 2009 is not the same as 37,500 residents out of work in 1983.....
So, your entire rant is bullshit when its put into perspective of the times....
Reaganomics was actually a recovery period for the valley....a recovery from the disaster of Jimmy Carter's years....
But, to be fair...I'm not blaming Carter for anything, ...he, like the rest of us, were victims of world events and conditions he had little control over....like the price of oil and the major downturn of the coal industry in the surrounding areas of Allentown....
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Liberty
Libertarian Minded
That is unless you have your profit margins already set and have no choice but to raise prices do to tax increases. Not being a monopoly, I set these margins at a rate which I can compete. (LOW)
The prices as you say are already set then. How can I "NOT" raise my prices if I want to stay in business assuming my taxes go up?