Hey, remember how years ago WaMu, Chase, and BoA gave you MONEY for having one of their free checking accounts? Yeah, they still made money off of that. They're full of shit.
Hey, remember how years ago WaMu, Chase, and BoA gave you MONEY for having one of their free checking accounts? Yeah, they still made money off of that. They're full of shit.
I keep hearing this but I'm not seeing it. I am sure it was true when the highest tax bracket was 90% or 70% (I know it was true), but right now it's tough to convince me that a tax cut from 39.6% to 35% drove any significant growth. The capital gains rate has been 15% for a while now but all we got out of it was a terrible bubble and an implosion that cratered the world economy. Ireland has a very low corporate tax rate was considered to be enormously successful, but oops - there was also a huge banking bubble and now the place is in dire straits.Quote:
Originally Posted by MarkRyan
As it is, taxes collected by the federal government are at their lowest level since the Truman administration. We've recovered from busts much faster with much higher tax rates since then, so something tells me there are bigger issues at play than just taxes.
What worked when the tax rate was 70% may not work when it is 39.6%. Indeed, it might even be detrimental. A lot of the right wing retards out there love to talk about the Laffer Curve but they really only talk about the one half of it that advances their agenda.
Someone using propaganda to get a message across. I'm stunned.
This is only true if taxes outstrip the potential gains. Taxes and regs are not as black and white as either party would like you to believe. Think about this, say Somalia has 0% taxes and America has 40% taxes. Where do you want to do business? Business will go where there is demand. Demand is the greatest driver of business. Lower taxes make it more lucrative to do business in one place rather than another true. But to act like entire industries will get the fuck outta dodge if taxes are raised in even the slightest is bullshit and leads to piss poor public policies.Quote:
Originally Posted by MarkRyan
Regulations are a totally different animal. I'd wager to think a 16 year old shouldn't be scheduled 65 hour work weeks, paint and body shop workers deserve breathing protections, and companies should not be allowed to dump hexavalent chrome where ever the business decides to. Some regulations are burdensome, most are there for a damn good reason and shouldn't be boogie manned either.
Again, it all goes back to demand and market potential. Do business in Somalia with 0 regs/taxes, or do business in America with lots of regs/taxes. It's your call. We do generally want low as possible (especially Fed since they don't "need") taxes but obstinate fear of tax increases (especially by the states) is prolly doing significant long term damage to America.
If they're losing $.50 for every $1 they have of yours then it can then be assumed they're losing $750 for every $1500 they have. The return should be the same regardless.Quote:
Originally Posted by Yoshi
So long as there is more money to be made by taking labour out of the country and declaring (or not declaring) your earnings via off-shore bank accounts increasing taxes will only result in discouraging international big money from settling with you. You'd have to literally wage war on China, India and Indonesia to give those people the same protections and rights you do to solve the issue. Is it really worth it? I think personally the end result down through the years, maybe after we're dead, will be a middle ground between the two. More rights but less wage or something (balance between the different ecosystems and economies).Quote:
Originally Posted by Bojack
As it stands now when you tax the rich you also penalize the income of middle and small business operations too.
The only reason there is "money to be made" was that these people bought up all the politicians and helped them create a system where it can happen. Poor ass crackers making $30,000 cheered it on because they don't like hippies.Quote:
Originally Posted by Drewbacca
But it's not some natural law that the Cayman Islands is the place to park your billions.
You miss my point by a large margin. But at any rate I'll address yours as well.Quote:
Originally Posted by Drewbacca
1. Simple bank statement audits and cash flow statements can find massive amounts of cash. We just choose to allow the off shore accounting/banking/tax practices to happen. Banks generally know where every dollar comes from and goes to these days. It's easy to lie about liabilities and transfer them around. Cash tends to leave a trail. Saying that increasing taxes will only cause the rich to hide their cash better is a non-issue because if it was that easy to hide cash then rich would simply hide all of it and pay 0 taxes. This does not happen so we can assume that even offshoring their accounts with foreign firms then domestic firms will have the appropriate wire transfer data and debit/credits to track it down. Once again speaking more less about state taxes and personal income taxes and not necessarily corporate taxes since we know the Fed doesn't need taxes really. Labor is another economic issue entirely that is a blackhole of debate as far as I'm concerned so I'll avoid it for now.
2. A balancing act will eventually (hopefully occur).
3. "As it stands now when you tax the rich you also penalize the income of middle and small business operations too." is basically stating that either you're willing to let the rich continue to extort an ever increasing amount of wealth from the poor and middle class, or that you really believe that 0% taxes is all that any one should pay ever. Do the rich create most of the jobs? Yes! Should we bend over backwards to accomadate the rich because they might take jobs/cash away if we threaten their power/positions? Absolutely not!
So I guess the point of this thread is that white people oppress themselves via their obsession with an economy that is inherently unsustainable and broken.
The point of this thread is that rich people are evil because the only reason they were able to obtain wealth was by extorting and oppressing other people and no one should be allowed to pass on their wealth to their children, only to everyone else's children.
The point of this thread is that the CNN article was dumb.