CDZ If the Tax Bill Passes

Discussion in 'Clean Debate Zone' started by william the wie, Oct 21, 2017.

  1. Xelor
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    Xelor Gold Member

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    Apology accepted.
     
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  2. Xelor
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    Xelor Gold Member

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    The tax code, at the highest level, two tax filing statuses: individual and corporate (business). For instance, one's tax filing status is "individual" before it is "married, filing jointly." Each status has its own set of "high earners." AFAIK, there are no notions of implementing a single top-level filing status.
     
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  3. Xelor
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    Xelor Gold Member

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    What? Wages are nothing other than the price of labor. Competition does not increase prices; it lowers them.
     
  4. ScienceRocks
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    ScienceRocks Democrat all the way!

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    I heard this morning that this bill will hurt the middle class very badly, while handing all the benefits to the super rich. This is just a bad bill.

    Must be defeated.
     
  5. Old Yeller
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    Old Yeller Gold Member

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    I meant......Employers competing for Workers (if Jobs surge).
     
  6. Xelor
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    Xelor Gold Member

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    TY for the clarification.

    We're already at the natural unemployment rate/level, so the competitive effect of which you write doesn't apply. When an economy reaches its natural unemployment rate, wages are maintained at their then current level unless and until employers (owners of businesses and their surrogates) are willing to accept lower profitability.

    You may find the following discussions useful in seeing why it works that way:
    Note:
    The two terms noted above are sometimes used interchangeably, as written above, they aren't; however, when referring to the fact that an economy has employed all the people who sought a job, many people will say that the economy has reached its "structural unemployment" level. It's not 100% accurate to say that, but usually context -- be it given by the situation, the discussion topic/theme, subsequent remarks, or the "credentials" of the speaker him-/herself -- informs audience members that what the speaker meant is that the economy has reached its "minimum structural unemployment rate."

    I pointed that out only because I know there are on USMB a number of people, who are not well trained in economics and I wanted to eliminate a potential source of confusion for those who are not fully aware of the difference between the two terms and their usage. I did it also because I don't believe the documents I referenced made the noted distinction clear, and I am unwilling to take the time to find similar reference that does.​
     
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