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The High Price That American Workers Pay for Corporate Taxes

Discussion in 'News & Current Events' started by Revmitchell, Sep 12, 2017.

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  1. Revmitchell

    Revmitchell Well-Known Member
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    The preponderance of evidence shows that the corporate income tax harms workers through lower wages. Because the U.S. has a relatively open economy, the tax is shifted from owners of capital to workers, the suppliers of labor. Reasonable estimates show that labor bears between 75 percent and 100 percent of the revenue cost of the corporate tax. Contrary to the claims that a corporate tax cut is a tax cut for the rich, a 20-point reduction of the corporate income tax to 15 percent could boost the relative market incomes of the poorest Americans by more than twice the increase for the richest. A tax cut for corporations is therefore a tax cut for the average American.

    The High Price That American Workers Pay for Corporate Taxes
     
    #1 Revmitchell, Sep 12, 2017
  2. rsr

    rsr <b> 7,000 posts club</b>
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    Maybe. But the effective tax rate is already about 14-15 percent, not the marginal rate.

    Certainly capital is more mobile, and it will invested where it will make the most profit. That will depend more on the aggregation of costs and not just taxes. A yuan invested in a place with a wage of $3 an hour will make more money than a yuan invested in a place with a wage of $20 an hour, even with a large tax differential, all other things being equal.

    But I'm open to slashing the corporate tax rate and increasing the effective (not marginal) tax rate on high earners.
     
    #2 rsr, Sep 12, 2017
  3. TCassidy

    TCassidy Late-Administator Emeritus
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    What do you consider a high earner?
     
    #3 TCassidy, Sep 12, 2017
  4. church mouse guy

    church mouse guy Well-Known Member
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    When the party of the Confederacy, the Democrats, says that a corporate tax is a tax cut for the rich, they really mean that the lower class is rich in their eyes and they begrudge them another penny. Cheap wages is the reason that both parties want lots of non-English speaking illegal labor to clean their toilets. They are called Latrinos, aren't they? And don't say that the Democrats, sincerely advocates raising the minimum wages because it is well-established that big corporations are in the hands of the Democrats; the GOP being in decline along with the Democrats. Besides, the richer you are, the less you pay because you have lawyers galore and accountants galore. And guys like Bill Nye, the fake science guy, notes that they shoot horses and that old people who are mostly climate deniers need to get out of the way--he is talking about me because I favor deep tax cuts, big slashes in government spending, and do-nothing on climate change no matter what Pope Francis thinks.
     
    #4 church mouse guy, Sep 13, 2017
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  5. Bro. Curtis

    Bro. Curtis <img src =/curtis.gif>
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    An arbitrary term. To define it would mean to lose it as a talking point.
     
    #5 Bro. Curtis, Sep 13, 2017
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  6. Revmitchell

    Revmitchell Well-Known Member
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    Kind of like defining "fair share'
     
    #6 Revmitchell, Sep 13, 2017
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  7. church mouse guy

    church mouse guy Well-Known Member
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    I think that the Democrats mean by high earner anyone who does not vote Democrat. They are now a leftist party in my opinion and they have no goodwill for anyone outside their political circle.
     
    #7 church mouse guy, Sep 13, 2017
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  8. Bro. James

    Bro. James Well-Known Member
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    The Great American Dream has become an elusive pipe dream. A lot of dreams realized vanished in Texas and Florida recently. Even the prosperity gospel crowd is diminishing. God seems to be taking a lot of His stuff back--unfaithful stewardship perhaps.
    We have a new crowd of rich and famous inside the beltway. The Treasury Secretary tried to get us to pay for his transportation to a European honeymoon. Waste, fraud and abuse is nothing new--just becoming more flagrant.

    More diatribe: our economy is based on our consumerism related to drugs, oil, and guns; along with Santa Claus and Peter Cottontail. A sizeable portion of of our workforce is not able to find sufficient work to support their families. The unemployment figures do not show those who have given up on normal work channels--they survive under the table. A sizeable portion of the potential work force are not qualified, not interested, and/or on dope. We have a dope epidemic.

    Any tax break would be great. Whatever happened to fair tax?

    Somebody has to pay for the jetfuel for Presidential Cabinet member honeymoons.

    Even so, come, Lord Jesus.

    Bro. James
     
    #8 Bro. James, Sep 13, 2017
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