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I actually agree about the corporate tax, however Im aware that eliminating it will not cause prices to drop.It's not that simple. The price of a product is more complicated than how much it costs to make, and there are more ways to distribute costs then to directly pass it on the the consumer.
No, it is pretty much that simple.
Taxing corporations is just plain stupid.
Much smarter to tax the profits received by the owners of the corporation.
I actually agree about the corporate tax, however Im aware that eliminating it will not cause prices to drop.No, it is pretty much that simple.
Taxing corporations is just plain stupid.
Much smarter to tax the profits received by the owners of the corporation.
What do you suppose will happen to the money corporations save by not paying the tax? Go into the mattress in the CEO's office?
I actually agree about the corporate tax, however Im aware that eliminating it will not cause prices to drop.
What do you suppose will happen to the money corporations save by not paying the tax? Go into the mattress in the CEO's office?
Expansion, marketing, research, hiring, bonuses, shifting of overseas offices, or how about just posted as profit.
I think it we totally eliminated corporate tax tomorrow, we would see some price reduction however it would be temporary and within 10 years prices would be back where they are now.
When are you libtards going to understand that corporations don't pay taxes? Taxes for a corporation are an expense and passed along to their customers, so if you want to pay more tax indirectly through the corporations in higher prices, just keep crying, you may get what you wish for.
Libtards? Tell me this oh wise conservative, what is stopping these corporations from raising their prices TODAY? Is it because they are just being 'nice'?
Competition is stopping these corporations from raising their prices TODAY. Taxes are a cost of business for all corporations, and is included in the prices of all their products and services. However, higher taxes and the resultant higher prices make American products less competitive on the world markets.
What do you suppose will happen to the money corporations save by not paying the tax? Go into the mattress in the CEO's office?
Expansion, marketing, research, hiring, bonuses, shifting of overseas offices, or how about just posted as profit.
I think it we totally eliminated corporate tax tomorrow, we would see some price reduction however it would be temporary and within 10 years prices would be back where they are now.
But some firms will opt to cut prices. Others might opt to pay more money to attract and retain better employees. Either way it is a win for the economy, as a cut in prices is virtually the same as a rise in salary, or a payout in dividend to owners.
What happens in 10 years is irrelevant here.
Expansion, marketing, research, hiring, bonuses, shifting of overseas offices, or how about just posted as profit.
I think it we totally eliminated corporate tax tomorrow, we would see some price reduction however it would be temporary and within 10 years prices would be back where they are now.
But some firms will opt to cut prices. Others might opt to pay more money to attract and retain better employees. Either way it is a win for the economy, as a cut in prices is virtually the same as a rise in salary, or a payout in dividend to owners.
What happens in 10 years is irrelevant here.
I agree, it would be a win for the economy. The issue would be the deficit, how is eliminating the revenue from corporate taxes going to help pay down our debt?
Libtards? Tell me this oh wise conservative, what is stopping these corporations from raising their prices TODAY? Is it because they are just being 'nice'?
Competition is stopping these corporations from raising their prices TODAY. Taxes are a cost of business for all corporations, and is included in the prices of all their products and services. However, higher taxes and the resultant higher prices make American products less competitive on the world markets.
Then President Obama's proposal to LOWER corporate tax rates should LOWER prices.
If you are really worried about higher prices making American products less competitive on the world markets, then you should be a HUGE advocate for universal health care.
.
But some firms will opt to cut prices. Others might opt to pay more money to attract and retain better employees. Either way it is a win for the economy, as a cut in prices is virtually the same as a rise in salary, or a payout in dividend to owners.
What happens in 10 years is irrelevant here.
I agree, it would be a win for the economy. The issue would be the deficit, how is eliminating the revenue from corporate taxes going to help pay down our debt?
Because corporations will make more efficient use of the money than the fedgov will, thus growing the economy.
That is the issue. Democrats, who haven't cared about the deficit (if they do now), insist we need tax increases to pay for the deficit. History shows this never works. Spending only increases.
The way to pay for the deficit is to 1) quit spending so damn much;2) grow the economy and with it tax revenue to pay the accumulated debt.
I do not worship at the altar of balanced budgets. But I think at some point spending is out of control. And we are past that point.
I agree, it would be a win for the economy. The issue would be the deficit, how is eliminating the revenue from corporate taxes going to help pay down our debt?
Because corporations will make more efficient use of the money than the fedgov will, thus growing the economy.
That is the issue. Democrats, who haven't cared about the deficit (if they do now), insist we need tax increases to pay for the deficit. History shows this never works. Spending only increases.
The way to pay for the deficit is to 1) quit spending so damn much;2) grow the economy and with it tax revenue to pay the accumulated debt.
I do not worship at the altar of balanced budgets. But I think at some point spending is out of control. And we are past that point.
Corporations more efficient use of the money will be to line the pockets of shareholders. The American people are STAKE-holders in our economy.
It's not that simple. The price of a product is more complicated than how much it costs to make, and there are more ways to distribute costs then to directly pass it on the the consumer.That's not true, but don't let facts stop you from ranting.
That is true. Taxes are a cost of doing business, just like rent and electricity. It is all calculated into the price of the product or service, and passed on to the consumer. There is no such thing as a free lunch.
I actually agree about the corporate tax, however Im aware that eliminating it will not cause prices to drop.It's not that simple. The price of a product is more complicated than how much it costs to make, and there are more ways to distribute costs then to directly pass it on the the consumer.
No, it is pretty much that simple.
Taxing corporations is just plain stupid.
Much smarter to tax the profits received by the owners of the corporation.
While I agree.... Competition is taken out of your equation for some reason. I don't know why. You just completely ignore it for some reason.It's not that simple. The price of a product is more complicated than how much it costs to make,
I agree with that too. However all those ways are from outside sources, such as the government. The basic economics of profit are the same for every company.and there are more ways to distribute costs then to directly pass it on the the consumer.
I'm not ignoring competition. However American corporations don't just compete with other American corporations,they don't just sell their products to Americans, and American corporate tax is just one factor and not the biggest when it comes to price or competition. I understand you look at in a pure free market setting, however it's more complicated then that, and doesn't work in that way.
But we've has this argument before
"Not the biggest " is my statement, not his.I'm not ignoring competition. However American corporations don't just compete with other American corporations,they don't just sell their products to Americans, and American corporate tax is just one factor and not the biggest when it comes to price or competition. I understand you look at in a pure free market setting, however it's more complicated then that, and doesn't work in that way.
But we've has this argument before
I didn't read all the thread, but did he argue that corporate taxes are the 'biggest' factor in competitiveness?
If no, perhaps you have created a strawman.
Also, I'm ending my participation in the coropratw tax debate here. He and I have argued this point in a different thread and I have no desire to hash it out again.
Expansion, marketing, research, hiring, bonuses, shifting of overseas offices, or how about just posted as profit.
I think it we totally eliminated corporate tax tomorrow, we would see some price reduction however it would be temporary and within 10 years prices would be back where they are now.
But some firms will opt to cut prices. Others might opt to pay more money to attract and retain better employees. Either way it is a win for the economy, as a cut in prices is virtually the same as a rise in salary, or a payout in dividend to owners.
What happens in 10 years is irrelevant here.
I agree, it would be a win for the economy. The issue would be the deficit, how is eliminating the revenue from corporate taxes going to help pay down our debt?
The American people are STAKE-holders in our economy.
Competition is stopping these corporations from raising their prices TODAY. Taxes are a cost of business for all corporations, and is included in the prices of all their products and services. However, higher taxes and the resultant higher prices make American products less competitive on the world markets.
Then President Obama's proposal to LOWER corporate tax rates should LOWER prices.
If you are really worried about higher prices making American products less competitive on the world markets, then you should be a HUGE advocate for universal health care.
.
What is Pres Obama's proposal to "lower corporate tax rate"? I'll bet smoke and mirrors. And as you said, it wont necessarily lower prices at all. And American products are more or less competitive based on any number of other factors, like the exchange rate.
I can't believe you want to let corporations dump their liabilities on the FedGov by letting the feds pick up the tab for medical insurance. Aren't you always screaming about "corporate welfare"?? What a hypocrite.
Then President Obama's proposal to LOWER corporate tax rates should LOWER prices.
If you are really worried about higher prices making American products less competitive on the world markets, then you should be a HUGE advocate for universal health care.
.
What is Pres Obama's proposal to "lower corporate tax rate"? I'll bet smoke and mirrors. And as you said, it wont necessarily lower prices at all. And American products are more or less competitive based on any number of other factors, like the exchange rate.
I can't believe you want to let corporations dump their liabilities on the FedGov by letting the feds pick up the tab for medical insurance. Aren't you always screaming about "corporate welfare"?? What a hypocrite.
You can read it yourself. There is no smoke or mirrors. It would require negotiations and dialog as with any major reform.
THE PRESIDENTS FRAMEWORK FOR BUSINESS TAX REFORM
Introduction
Americas system of business taxation is in need of reform. The United States has a relatively narrow corporate tax base compared to other countriesa tax base reduced by loopholes, tax expenditures, and tax planning. This is combined with a statutory corporate tax rate that will soon be the highest among advanced countries. As a result of this combination of a relatively narrow tax base and a high statutory tax rate, the U.S. tax system is uncompetitive and inefficient. The system distorts choices such as where to produce, what to invest in, how to finance a business, and what business form to use. And it does too little to encourage job creation and investment in the United States while allowing firms to benefit from incentives to locate production and shift profits overseas. The system is also too complicatedespecially for Americas small businesses.
For these reasons, the President is committed to reform that will support the competitiveness of American businesseslarge and smalland increase incentives to invest and hire in the United States by lowering rates, cutting tax expenditures, and reducing complexity, while being fiscally responsible.
This report presents the Presidents Framework for business tax reform. In laying out this Framework, the President recognizes that tax reform will take time, require work on a bipartisan basis, and benefit from additional feedback from stakeholders and experts. To start that process, this report outlines what the President believes should be five key elements of business tax reform.
PRESIDENT OBAMAS FIVE ELEMENTS OF BUSINESS TAX
I. Eliminate dozens of tax loopholes and subsidies, broaden the base and cut the corporate tax rate to spur growth in America: The Framework would eliminate dozens of different tax expenditures and fundamentally reform the business tax base to reduce distortions that hurt productivity and growth. It would reinvest these savings to lower the corporate tax rate to 28 percent, putting the United States in line with major competitor countries and encouraging greater investment in America.
II. Strengthen American manufacturing and innovation: The Framework would refocus the manufacturing deduction and use the savings to reduce the effective rate on manufacturing to no more than 25 percent, while encouraging greater research and development and the production of clean energy.
III. Strengthen the international tax system, including establishing a new minimum tax on foreign earnings, to encourage domestic investment: Our tax system should not give companies an incentive to locate production overseas or engage in accounting games to shift profits abroad, eroding the U.S. tax base. Introducing a minimum tax on foreign earnings would help address these problems and discourage a global race to the bottom in tax rates.
IV. Simplify and cut taxes for Americas small businesses: Tax reform should make tax filing simpler for small businesses and entrepreneurs so that they can focus on growing their businesses rather than filling out tax returns.
V. Restore fiscal responsibility and not add a dime to the deficit: Business tax reform should be fully paid for and lead to greater fiscal responsibility than our current business tax system by either eliminating or making permanent and fully paying for temporary tax provisions now in the tax code.
