As you said, corporate taxes can be tricky to get right. But income taxes are more straightforward.
If we would at least raise the income tax on the rich, that would help with the deficit and not affect businesses like many Republicans believe.
I've been saying this a lot lately, but when an executive takes a $1,000,000 paycheck, that money is taken out of the business. That money is never going to go toward employee salaries or anything even remotely business related. That is their own personal spending money to buy jets and BMWs and fancy suits and whatever else rich people blow their money on.
By raising the income tax on the rich they could either take the same amount from the business and pay the tax, they could take less money and pay less taxes, or they could be real assholes and take more to pay for their taxes. If the latter is what happens we need to put some serious thought into how businesses should work. I'm thinking like employee owned business with no one person at the top taking all the profits for themselves.
[editline]3rd August 2011[/editline]
I worked at a job for 3 years as a programmer at a place where I got paid $9.50 per hour because I was 17 when I was hired and then they start laying people off and cutting hours and benefits as the people on top drove into work every day in their gas guzzling BMW SUVs and took trips to Hawaii and California. I finally quit after my boss started bitching about how I was 5 minutes late every day and how I was cheating the company out of $5 and how dishonest it was. Fuck that shit.
If that's not worker exploitation, I don't know what is. There has to be some way for an average guy like me to get my fair share.
[QUOTE=PvtCupcakes;31501709]As you said, corporate taxes can be tricky to get right. But income taxes are more straightforward.
If we would at least raise the income tax on the rich, that would help with the deficit and not affect businesses like many Republicans believe.
I've been saying this a lot lately, but when an executive takes a $1,000,000 paycheck, that money is taken out of the business. That money is never going to go toward employee salaries or anything even remotely business related. That is their own personal spending money to buy jets and BMWs and fancy suits and whatever else rich people blow their money on.
By raising the income tax on the rich they could either take the same amount from the business and pay the tax, they could take less money and pay less taxes, or they could be real assholes and take more to pay for their taxes. If the latter is what happens we need to put some serious thought into how businesses should work. I'm thinking like employee owned business with no one person at the top taking all the profits for themselves.[/QUOTE]
income taxes tend to be more of a morality issue for conservatives and republicans, rather than an economic issue. and you are for the most part right about income taxes
although i wouldnt [i]suggest[/i] raising any taxes during a recession, income tax on the rich would probably be the least harmful to raise, both short term and long term. i think an income tax increase would be a good compromise for corporate and payroll tax cuts and stimulus spending, since we [i]do[/i] need to increase revenue and start paying off this debt
[editline]3rd August 2011[/editline]
[quote] If that's not worker exploitation, I don't know what is. There has to be some way for an average guy like me to get my fair share. [/quote]
there is
education, intelligence, innovation, and luck
thats what successful businessmen tend to have.
[QUOTE=yawmwen;31501763]income taxes tend to be more of a morality issue for conservatives and republicans, rather than an economic issue. and you are for the most part right about income taxes
although i wouldnt [i]suggest[/i] raising any taxes during a recession, income tax on the rich would probably be the least harmful to raise, both short term and long term. i think an income tax increase would be a good compromise for corporate and payroll tax cuts and stimulus spending, since we [i]do[/i] need to increase revenue and start paying off this debt
[editline]3rd August 2011[/editline]
there is
education, intelligence, innovation, and luck
thats what successful businessmen tend to have.[/QUOTE]
People don't spend in a recession. Rich people and companies with tons of money sure don't. Effective taxing would free money up from them and spend it on peoples health, education, and survival. These people surviving to be able to work new jobs is what helps the economy.
[QUOTE=yawmwen;31501763]
there is
education, intelligence, innovation, and luck
thats what successful businessmen tend to have.[/QUOTE]
Then there are PHBs (Pointy Haired Bosses (from Dilbert)) who are only smart enough to hire other people to do all the work then pay them a shit wage and weasel them out of any benefits they can.
[QUOTE=yawmwen;31501294]taxes are not low now, they are still pretty high. another 5% cut would be a good start. and there are other factors that are making corporations hesitant to produce, a large part being the fact we are in a god damn recession and shit doesnt happen overnight.
if taxes were raised our recession would deepen and take a lot longer to recover from. it would not get better.
taxes and spending need to be counter-cyclical, lowering with economic downturn and raising with economic boom
[/QUOTE]
Decreasing corporate taxes by 5% costs extremely much to begin with, especially in the US which is a big country with many corporations.
[QUOTE=HumanAbyss;31506767]People don't spend in a recession. Rich people and companies with tons of money sure don't. Effective taxing would free money up from them and spend it on peoples health, education, and survival. These people surviving to be able to work new jobs is what helps the economy.[/QUOTE]
have you read what i posted? more taxes are going to cause these corporations to stagnate more than they already are. it would deepen our recession and cause even more people to be reliant of government welfare, which is going to deepen our deficit.
keynesian economic principles are good to follow because they generally work in a recession and work a whole lot better than you idea that the government cant or shouldnt stimulate the economy
it seems your central idea is exactly the same as a conservative, although you are suggesting acting in the exact opposite way a conservative would
[editline]3rd August 2011[/editline]
[QUOTE=Ond kaja;31510023]Decreasing corporate taxes by 5% costs extremely much to begin with, especially in the US which is a big country with many corporations.[/QUOTE]
it pays off in the end
[QUOTE=yawmwen;31514156]
it pays off in the end[/QUOTE]
In order to compensate the tax cuts you would have to make cuts from welfare systems, which would make health care and other things crucial for maintaining a stable workforce harder to come by, thus decreasing overall productivity and efficiency.
World economy pretty much collapsed today.
Cue the apocalypse.