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08-07-2011, 04:41 PM #91
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08-07-2011, 05:05 PM #92
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08-07-2011, 05:10 PM #93
- Join Date: Jul 2007
- Location: simi valley, SoCal, Christmas Island
- Posts: 15,950
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until the gov stops taxing every company to the point that they ship jobs overseas (thanks a lot NAFTA) the US will not recover.
i like how your solution to the problem is to make an environment where no companies can do business in the US. what a GREAT economic idea you have.
also, if you are looking at rich people not paying taxes, look no further than one of obamas master, jeffery imhelt (sp?) the owner of general electric who is probably the largest corporation in the world, paid ZERO taxes as a corporation.
go **** yourself op.Last edited by ZachSmash; 08-07-2011 at 05:16 PM.
ZachSmash is a *******
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08-07-2011, 05:25 PM #94
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08-07-2011, 05:37 PM #95
- Join Date: May 2009
- Location: Illinois, United States
- Age: 53
- Posts: 4,484
- Rep Power: 1411
1) WTF do you care so much about America's economic conditions, you're an Aussie ?
2) The problem is not enough taxes, the problem is almost HALF our national budget goes to Transfer Payments, mostly Medicare/Medicaid and Social Security. Nearly the rest of the other half is Defense. Our criminal Congress and President need to simply stop spending so much $ucking money.
When you raise taxes on corporations, they just raise prices on consumers. Corporations don't 'really' pay taxes in the end.
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08-07-2011, 06:15 PM #96
had you have been paying attention there have been a half dozen or so great ideas in this thread... but since your still so young and have a hard time seeing it even tho its rite there in front of you... how about getting rid of capitol gains? OR better yet.. fairtax would get rid of corporate taxes altogether... createing the worlds largest Tax haven for buisness and would grow our economy way faster than raising taxes,,, wich BTW would reduce revenues not increase them. im certainly glad your enterested in this discussion but them govnt teachers are fillin your head full o shat~
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08-07-2011, 06:19 PM #97
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08-07-2011, 06:39 PM #98
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08-07-2011, 06:54 PM #99
I never said raise corporate tax rates. I said raise income in the top bracket. I guess if you had sufficient reading comprehension skills, you would have picked this up, but it's hard to blame you give the state of the American public education system.
And also, businesses don't ship overseas because of taxes, but because of cheap labor. It's as simple as that. Look at Ireland, the lowest corporate tax rate amongst developed countries yet is at 1000%GDP debt and huge unemployment.
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08-07-2011, 07:01 PM #100
This is false. Corporations can't really raise prices far above the production cost (disregarding the case of a monopoly), because somebody else will just undercut them. America is an extremely competitive market, and this simply won't happen. The only situation where this does happen is if certain corporations have a monopoly on a single resource, eg; oil. But again, I'm not saying raise taxes on the rich.
And btw, I really lol at the critical thinking of skills that people assume that because my current location isn't in America, means I have never lived there.
Playing the age card *sighs*. Anybody who supports a "fair tax" is absolutely economically illiterate. The fair tax is a complete disaster for any economy, which is exactly why no country has ever taken the idea seriously. And again, wages/productivity impact a business's decisions far more than taxes. Why do you think that Ireland, with the lowest tax rate amongst developed countries (10-11%), has huge unemployment and massive debt? Lowering corporate taxes helps nobody. As long as there is a demand for products, there will be businesses, and the growing unemployment is because the A.merican middle class simply don't have enough money to keep businesses here
Exactly this. If a coffee shop decides to make more profits by doubling their price, I just set up another coffee shop at a much lower price. I get all the business and they get none. Economics is a beautiful thing.
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08-07-2011, 07:02 PM #101
- Join Date: May 2009
- Location: Illinois, United States
- Age: 53
- Posts: 4,484
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Raise income tax in the top bracket, then people will have less to invest. This means less growth, fewer jobs.
Remember the government does most things far less efficiently than the private sector. This means money in the hands of citizens, in general, grows the economy better than that same money taxed away and in government hands.
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08-07-2011, 07:07 PM #102
Again, things don't work that way.
Just image Warren Buffet. He has 10 or 20 billion sitting in his bank account, doing nothing. Now, imagine if instead of Warren Buffet, you had 200,000 people earn 50,000 for that year. Almost all that money will be spent, which is what keeps the economy running. Money sitting in bank accounts do nothing, and as a percentage of their income, the middle class spend FAR more of their money. THAT is what funds businesses, not the millions or billions that sits in stocks or bank accounts.
Trickle down doesn't work.
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08-07-2011, 07:09 PM #103
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08-07-2011, 07:11 PM #104
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08-07-2011, 07:14 PM #105
- Join Date: May 2009
- Location: Illinois, United States
- Age: 53
- Posts: 4,484
- Rep Power: 1411
Trickle down DOES work. There's no such thing as trickle up. The 10 or 20 billion isn't 'doing nothing'. Money in banks allows banks to make loans and survive. And you know what, even if it was, who cares? It's his money. He can withdraw it all in cash and burn it if he wants. Too bad. This rich old fuk creates more jobs than every poor dumb slob in every inner city will ever create in 100 years.
Let's just tax everyone at 100% of income and holdings after they purchase their government approved good and services, right? How can you be so ignorant of how the world works? Oh right, your 17 AND Australian.
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08-07-2011, 07:15 PM #106
So more loans is the solution? I'm fairly certain that excessive loans is what caused the mess in the first place, not to mention that there is no shortage of funds anyway.
Corporations are already sitting on 2 trillion dollars of cash. Do you really think throwing more money at them will make them invest when they have no incentive too? They won't make money because the middle class doesn't have money to spend on their products and services. If somebody gave you $100,000, would you hire 200 people to sit around and paint flowers all day? Would you start up a small restaurant if you knew full well that you wouldn't have enough customers to meet your costs?
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08-07-2011, 07:19 PM #107
- Join Date: May 2009
- Location: Illinois, United States
- Age: 53
- Posts: 4,484
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Sorry, but you're totally missing the boat. Either you're that ignorant or you doing it on purpose.
Who said "more loans are the solution!" ? Nobody.
"Excessive Loans" didn't cause anything. Government policy and corruption 'caused' the housing 'crisis'.
Don't they teach economics in Oz ?
Sorry but you don't know wtf you're talking about in any of your posts. Stick to your own nation's economic situation, you know jack $hit about America's other than regurgitating tired leftist talking points.
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08-07-2011, 07:21 PM #108
Yes they do teach economics in Australia. I'm doing a double major in Economics/Finance at one of the world's best social science universities, but you're probably right. You definitely know more about economics, especially considering your thorough understanding of the housing bubble, and how "government corruption and policy" caused it.
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08-07-2011, 07:26 PM #109MIKE TYSON: "When you see me smash somebody's skull, you'll enjoy it."
"I try to catch him right on the tip of the nose, because I try to push the bone into the brain."
"It's ludicrous these mortals even attempt to enter my realm."
"I can sell out Madison Square Garden masturbating"
"I'll f**k you till you love me f**got!"
"I just want to conquer people and their souls"
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08-07-2011, 07:30 PM #110
- Join Date: Dec 2004
- Location: Texas, United States
- Age: 49
- Posts: 7,481
- Rep Power: 118528
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08-07-2011, 07:31 PM #111
I respect the tea party members for holding their ground. Don't spend more money than you have, don't put the government in a structural deficit. However, because the government does make up such a large proportion of GDP, that spending vacuum won't be filled immediately by private spending or domestic consumption.
Oversimplification coming below, but lets use this analogy.*
Hence lets say government spending makes up 30% of GDP (not sure about the US, but Australia's is at about 30%(including federal, state and local)), lets say you cut spending to 20% of GDP.*
Losing 10% of the GDP in one budget cycle would sink the economy. Even though the government would take less tax, much of the private return of tax revenue would go to paying down debt and savings. So a heap of domestic consumption would be lost, leading to inevidable social upheaval.*
If the US can reverse its structual budget deficit, reduce its overal debt, avoid social upheaval and open up its economy(regulations, tariffs, taxes...all in one year...great.*
This is unlikely, hence a 10 year plan is needed, but it will kill growth in the short term, help business confidence in the medium term and give you a long term investment boom.*
....if....if...if.
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08-07-2011, 07:31 PM #112
- Join Date: May 2009
- Location: Illinois, United States
- Age: 53
- Posts: 4,484
- Rep Power: 1411
Nothing is trickling down because everyone is in a 'wait and see' status, because of the incompetence of the President and Congress. Plus because of the artificial crisis the Government created with the 'housing market collapse'.
When the government gets it's head out of it's @ss, the money will start moving again.
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08-07-2011, 07:31 PM #113
Wow, you can really go Full Retard when you want to. Almost nothing in that post has anything to do with my statements, which were in direct response to your ludicrous claims.
1. Loans to people who couldn't afford them caused our current mess. Your statement claimed that money "sits in banks doing nothing", and thus would be better in the hands of the government or randomly employed workers - which would mean no funds available for those who can afford to intelligently borrow and pay back their obligations.
2. We're not talking about today, but your vision of a future which should have no money available for investing and borrowing, because you ignorantly believe that savings & stock investments actually do nothing at all. Guess what - the people who would need to borrow that money aren't the ones with piles of it stacked in the imaginary corner. Stop mixing apples, oranges, and cement blocks.
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08-07-2011, 07:34 PM #114
The economy is a mess because the Housing Bubble collapsed. What does that have to do with "trickle down" economics? On the flip side - as I'm sure you know, the economy was doing great for several years after the much-hated Bush tax cuts. GDP steadily grew, Unemployment dropped and stayed low, tax revenue increased. So, why the need to deceptively claim that the current post-bubble economy was caused by "trickle down"?
By the way - We've been ramming through years of insane, off-the-chart Government spending. How's that plan been working out for us?
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08-07-2011, 07:44 PM #115
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08-07-2011, 07:50 PM #116
California's policies are retarded. The economy is **** because companies only hire when the demand is there, consumers need money in their pockets to fuel demand.
http://www.huffingtonpost.com/2011/0..._n_857204.html Basically, the tax cuts are doing jack**** for our economy and are just a burden on our deficit.
Consumer demand must comes first before the hiring, but i agree about the gov lolMIKE TYSON: "When you see me smash somebody's skull, you'll enjoy it."
"I try to catch him right on the tip of the nose, because I try to push the bone into the brain."
"It's ludicrous these mortals even attempt to enter my realm."
"I can sell out Madison Square Garden masturbating"
"I'll f**k you till you love me f**got!"
"I just want to conquer people and their souls"
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08-07-2011, 07:54 PM #117
this assumes that another coffee shop is able to undercut you for a profit. if taxes go up, they go up for ALL coffee shops. therefore ALL coffee shops prices rise. what youre arguing is akin to saying that a rise in oil prices wouldnt cause the cost of an airplane ticket to rise. its nothing short of lunacy.
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08-07-2011, 07:56 PM #118
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08-07-2011, 08:01 PM #119MIKE TYSON: "When you see me smash somebody's skull, you'll enjoy it."
"I try to catch him right on the tip of the nose, because I try to push the bone into the brain."
"It's ludicrous these mortals even attempt to enter my realm."
"I can sell out Madison Square Garden masturbating"
"I'll f**k you till you love me f**got!"
"I just want to conquer people and their souls"
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08-07-2011, 08:02 PM #120
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