BluesLegend
Diamond Member
This makes no sense.Because at some point, someone needs to get taxed. And if it's not corporations, who are rolling in dough right now ...
Guess who gets to pay more? Not the rich, who make most of their $$ through investment.
That would be us, the middle and upper middle class folks. We get to pay more.
If a corporation does not get taxed, which individual benefits and avoids taxation?
If a corporation has coffers full of money, who benefits? Not the corporation. Sitting on unused capital is wasteful.
Anyone who makes more money through investment eventually gets taxed.
Individuals get better, more jobs. The government then actually works FOR THE PEOPLE, not the reverse.
They get taxed like 15% on dividends, I recall. If the investment income is taxed only once, it stays a measly 15%. That's pretty weak sauce, considering little ol' me is getting taxed around 30%.
To compensate for the deficit caused by the lack of corporate taxes, income taxes would have to go up. Otherwise ... well, you thought the national debt was bad now ...
Granted, I'm not a tax expert. I admit, I don't have all the answers. This is my understanding; the workers won't benefit from tax cuts. Especially not compared to investors.
If that suits your purposes, so be it. It's not ideal for me.
You have a simpleton understanding of economics. Tax policy should encourage corporations and the wealthy to take risks on new businesses and expansion, that's how jobs are created and growth happens. If the left had its way, punishment taxation of the wealthy and corporations the wealthy and corporations just don't bend over and take it. They say fuck you liberals and run for the exits. Relocate to other countries. The wealthy hunker down hoarding their wealth. They don't take risks on starting new businesses or expansion. Job growth slows, economic growth slows, and tax revenue falls. You can't punishment tax your way to prosperity.
Okay. But you're kind of misrepresenting what I'm saying. I never said that there is NOTHING good that will come out of the new tax laws, whatever they end up looking like. But it's certainly not going to be this brilliant paradise that Trump and his supporters are claiming.
Do you actually believe corporations should not be taxed? And where will that money come from then? That was sort of my original question.
You are blaming Trump. Congress created this tax reform bill not Trump. Now, Dem's in congress decided to sit on the sidelines and just bitch and complain so they are useless. The GOP, infested with lying corrupt GOP establishment hacks bought and paid for by special interests drafted the bill. Naturally its full of pork and political favors and in many ways not what Trump asked for. Lets start there.