A boom in corporate profits, a bust in jobs, wages

[dathbgboy]

Corps are gettin crazy tax cuts while shippin jobs overseas and keepin U.S. wages low. I'm not surprised at all. Meanwhile, the cost of living is going up every second which forces ppl to take on more jobs, jeopardizes health while premiums for health care are still high....



If America wants to do anything about this debt crisis they should increase taxes for every corp who keeps shipping jobs overseas......That and start texting colleges and universities. No reason why they sit tax free while increasin tution every year and federal funding decreases......That's another topic though

 

[charmcitykid]

the bottom line is WE decide who "wins" by how/where we spend our money. and they got it set up where regardless how/where we spend we're still lining the pockets of these corps.

 

[Betonblck]

Originally Posted by rashi

Originally Posted by Wr

Originally Posted by rashi


What cuts in taxes? The largest corporations pay 0 taxes.

im still surprised more people don't understand this. the average american pays more in taxes than these companies. Both before and after we get paid

The average American doesn't care to know, they need a villain. The call for raising taxes on the "rich" are actually taxes on the Middle Class. Raising taxes on the so called "rich" raises taxes on the small business, and with our monetary policy, inflation and the rise in prices of goods/services gets way more expensive for the Middle Class and Lower classes.

How do you figure?  Or you are referring to the $250K number as being middle class?

 

[essential1]

If we are talking about investment I wish I had a couple million to put into Ford.. I would have made bank... Even a few thousand and I would have made 1000-2000% of my initial investment..

As for the article...... We let the rich convince the middle class that taxes were TOO HIGH.. So we needed to drastically cut taxes.. And the billions we sent to Billionaires and Corporations had to be made up elsewhere... From the unemployed or underemployed middle/lower class citizens who need help... And they still took their extra revenue said F it and either kept their personal revenue to themselves or their new corporate "extra revenue" and let go people and took the jobs elsewhere..

We got screwed.... But hey that's capitalism....

 

[essential1]

Originally Posted by cguy610

Originally Posted by rashi

Originally Posted by Wr

im still surprised more people don't understand this. the average american pays more in taxes than these companies. Both before and after we get paid

The average American doesn't care to know, they need a villain. The call for raising taxes on the "rich" are actually taxes on the Middle Class. Raising taxes on the so called "rich" raises taxes on the small business, and with our monetary policy, inflation and the rise in prices of goods/services gets way more expensive for the Middle Class and Lower classes.

How do you figure?  Or you are referring to the $250K number as being middle class?

I'm assuming he's saying if we raise taxes on the top 1.5-4% which is what over $250K is (according to various studies)... Then the burden will be passed on us common folk... The "unintended consequences"

Also the raise would be on small businesses  is not true... Around 98% of small businesses do less than $250K in business.

 

[Mark Antony]

It's amazing how they sell people the trickle down theory and they eat it up.

 

[rashi]

Originally Posted by Essential1

Originally Posted by cguy610

Originally Posted by rashi


The average American doesn't care to know, they need a villain. The call for raising taxes on the "rich" are actually taxes on the Middle Class. Raising taxes on the so called "rich" raises taxes on the small business, and with our monetary policy, inflation and the rise in prices of goods/services gets way more expensive for the Middle Class and Lower classes.

How do you figure?  Or you are referring to the $250K number as being middle class?

I'm assuming he's saying if we raise taxes on the top 1.5-4% which is what over $250K is (according to various studies)... Then the burden will be passed on us common folk... The "unintended consequences"

Also the raise would be on small businesses  is not true... Around 98% of small businesses do less than $250K in business.

Inflation is a tax.

Why do you people insist on violence on people?

 

[wr]

even though 250k is a lot of money, that's not really the wealthy class imo

 

[rashi]

Wealth is a subjective value.

 

[wr]

tax revenue from that small amount of money is drops in the bucket compared to the amount swirling around in commerce. it's really just lip service because it will shut some people up for a day or two but wont really solve anything in the long run.

 

[rko2004]

WE'RE SCREWED.

 

[essential1]

Originally Posted by rashi

Originally Posted by Essential1

Originally Posted by cguy610


How do you figure?  Or you are referring to the $250K number as being middle class?

I'm assuming he's saying if we raise taxes on the top 1.5-4% which is what over $250K is (according to various studies)... Then the burden will be passed on us common folk... The "unintended consequences"

Also the raise would be on small businesses  is not true... Around 98% of small businesses do less than $250K in business.

Inflation is a tax.

Why do you people insist on violence on people?

Violence??????  Oh I get it,  class warfare

... Because that is violence....

Your weak (at best) straw man argument is amusing..... 

 

[orfiyus]

Its capitalism man. We got the best of the worst going on right now.

Everyone who has a degree collecting dust (including me) need to stop complaining and start looking out for ourselves. Yea its good to be informed but we cant really do anything other then vote for someone who can make some changes.

 

[myjaysgetrocked]

Originally Posted by Wr

even though 250k is a lot of money, that's not really the wealthy class imo

income=/= wealth

 

[Betonblck]

Originally Posted by rashi

Originally Posted by Essential1

Originally Posted by cguy610


How do you figure?  Or you are referring to the $250K number as being middle class?

I'm assuming he's saying if we raise taxes on the top 1.5-4% which is what over $250K is (according to various studies)... Then the burden will be passed on us common folk... The "unintended consequences"

Also the raise would be on small businesses  is not true... Around 98% of small businesses do less than $250K in business.

Inflation is a tax.

Why do you people insist on violence on people?

What does raising taxes have to do with inflation, other than decreasing inflation by increasing tax revenues and lowering our deficits.

 

[rexanglorum]

Essential1 wrote:

---

Violence??????  Oh I get it,  class warfare

... Because that is violence....

Your weak (at best) straw man argument is amusing..... 


What happen if you do not pay your taxes? What happens when you resist any physical IRS confiscations of your property? The answer is that you will be shot and killed and/or injured and then detained by authorities. That outcome is violence in anyone's view.

Thankfully, we have constitutional protections and a general regard for human rights, the IRS is not the same as the 16th Century Scottish Aristocrats, who would tie up a man, who was unable to pay his tax bill, and placed a spike below his head, forcing him to contort his body upward or else have his jaw impaled. Regardless, all taxation, all regulation and all actions by government are meaningless if they are not backstopped, ultimately, by the threat of lethal violence.

I am less libertarian than rashi but when I advocate certain government actions, I understand that in advocating such things (in my case, a negative income tax and certain controls on externalities along with a few things), I am having to accept the terrible price of someone potentially getting shot to death so that enough taxes can be collected to save poor Americans from suffering the pain of cold or hunger. I feel that if a government program's value is not worth shooting a recalcitrant, fellow citizen, it should not implemented.

I can see why you would dismiss government action as violence; because if you accepted that premise you would logically have to reach a very disturbing conclusion about your core political beliefs. That conclusion is of course that people of the political left are in favor of a great deal of state sponsored violence, directed against its own citizens as well as the implicit yet constant threat of violence.

 

[essential1]

Collecting taxes is now violence? Because we have to pay taxes it is now "State Sponsored Violence"

Fear mongering 101... Come up with something widely accepted as normal practice since our founding and then just say it is violence... Like the Jon Stewart clip "GOP: Special Victims Unit".. It's not like they are posting record profits, and paying the least amount of taxes in ours and our parents lifetime, and hiring less....

But Who can't afford their tax bill that they will bring upon violence? The wealthy and rich on a meager 4% increase ABOVE $250K... A corporation making hundreds of millions per quarter and has to ship jobs overseas because they can't "sustain it" financially...

It is the most preposterous statement ever made... It's always don't do anything or if you do it is doomsday scenario with Stalin coming to kill us all..... Let's get rid of all regulation, all government actions, and we will see how fast all the "Conservatives" or "Tea Party" or "Libertarians" find out how the world works...

Government does !!++ up... A lot... Government can be inefficient... But do you know who pays to have that happen? The people with something to lose... Those making money... Businesses who cook their books... Businesses who make hundreds of millions, ship jobs overseas, and still duck the taxes.... Companies who want to pollute the air because it is easier for them to ignore they pollute than clean up after themselves so we don't all get sick... CEO's who want to lose their "extra baggage"..

The wealthy have spent millions to keep their taxes (individually and business) to a 60 year low.. Under the guise of Supply Side economics... And they are the "job creators".. And if you give them the money all of us check to check workers will prosper.. Turns out in the past 40 years middle class income (STAGNANT).. Wealth Disparity (the largest it has been)... Taxes (At a 60 year low on corporations and the top marginal bracket).. The "Job Creators" have been inefficient for a decade.... Supply Side failed 95% of the people... 

And the left has to realize something...

You suffer from Delusions of Grandeur my friend because facts are stubborn things, and reality is a tough thing to face... Fact after fact shows that it failed... Unless succeeding for 5% when it is meant to succeed for as close to 100% as possible is now a great success..

 

[rexanglorum]

I normally read what you have to say and even if I disagree, I respect it enough to read it and consider it. In this case I skipped every past the first paragraph, you are obfuscating. I am not looking to debate every detail of tax policy at this time.

My only point in this discussion is that government functions, the only way that it can actually function, is with the threat of violence. Sometimes it is overt and in our society it is usually very subtle and implied but ultimately taxes are collected and regulations and laws are enforced through the use of violence, that is a fact.

Again, I personally do not believe that given that fact, all government functions should be disbanded but you are being dishonest if you do not face up to the fact that government is the organized application of force, violence and coercion. If a government functioned simply by asking really, really nicely, it would have no revenue and no ability to perform even its most basic functions.

When you face up to the simple fact that government needs the threat of violence to be effective, we can go on to debate just how much and in what ways government can and should be utilized. We should just be aware that we you say that taxes should be increased in orderto accomplish x, y and z, you should be mindful that that sentenc could be restructured to say. The state should, with the threat of lethal violnce, extort money from a group of people. Not matter how noble your tax expenditures may be, the process of collecting tax revenues is no less brutal.

 

[desent]

Exxon said that its profit reflected the higher crude oil and natural gas prices that made headlines during the three-month period.

Exxon's fat profits inspired anger among Americans back in April, prompting the oil company to say that it was not profiting off higher gas prices.

http://money.cnn.com/2011/07/28/news/companies/exxon_mobil_earnings/index.htm

I saw this a couple days back... To me this is one of the biggest components on why we are in the position we are in (the u.s.) The reckless spending, the lobbying, the incentives given to companies who will still get profits amid not having those incentives etc. 

Rich get richer and the government is in Big Business's pockets, i've been wondering myself is it really this bad in other countries like Australia or Switzerland? J/w as i contemplate places to relocate in the future. (save your good riddance or be gone comments.)

 

[Betonblck]

The bottom line is that too many Americans are idiots. They want more of the same policies that have driven our country to the point where we have unsustainable deficits, unsustainable unemployment levels (at least 15% real unemployment).

They think that giving bigger tax breaks to Exxon will actually lower oil prices. They think that allowing oil companies to destroy the environment will lower oil prices. They think that minimum wage is the problem because $8/hr or a $17,000 annual salary is too high. So if we get rid of minimum wage, Nike can open the same sweatshops that pay employees 50 cents an hour over here.

Not only that, we have idiots that think that cutting government spending will solve the problem in a recession. So now we have state and local governments cutting jobs over the past few months, which has led to the little to no growth in job numbers over the past 2 months. These were job cuts that were delayed because of ARRA. 33,000 jobs were created in May and 18,000 jobs were created in June. That is not even close to enough to soak up the increasing growth of the job market due to college graduates. It's good college graduates cannot be included in the unemployment numbers.

Not only that, GDP was revised down from 1.9% to 0.4% in the first quarter. Who is calculating these numbers. The second quarter GDP was only 1.3%. I wonder what that will get revised to. If you create jobs (in this country) the debt and deficit will take care of itself. Instead of thinking of ways to create jobs, idiots think that the solution is to cut jobs, which will lower tax revenue and worsen the debt and deficit issues. Idiots think that laying of a government worker and allowing him to collect 99 weeks of unemployment is a good idea.

 

[mjd77]

Greed and the fact that you can't regulate it is the problem. DEMAND for products/services creates jobs and until there is more cash in the pockets of our middle class, nothing will change. This period of stagflation we are in will only end in a further deterioration of people's quality of life.