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US Election 2012

Obama: "Romney's Tax Plan is Robin Hood in Reverse"

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Leon On about 3 hours ago




San Diego, California
#1New Post! Aug 07, 2012 @ 03:44:13
https://in.reuters.com/article/2012/08/07/us-usa-campaign-obama-robinhood-idINBRE87603320120807

To be honest, I don't know why people think that trickle down economics is the golden solution to a robust economy. It does give corporations more profit, yes, but there is no guarantee it will result in more hires rather than just a pocketing of the money, especially now that they have seen how much they can profit without the hires the past few years.

But either way, eliminating tax breaks to the poor and middle class will only ensure smaller corporate profits due to less spending money coming from the consumer base, probably nullifying the corporate tax breaks at best and creating another recession at worst, likely resulting somewhere in between. Do we really need this?

But what do I know, as I'm no economist. Just my two cents.

raditz On September 05, 2021
Blah





Houston, Texas
#2New Post! Aug 07, 2012 @ 03:53:18
What makes you think taxing companies more, decreasing their profits will lead to hiring?
Leon On about 3 hours ago




San Diego, California
#3New Post! Aug 07, 2012 @ 04:40:00
@raditz Said

What makes you think taxing companies more, decreasing their profits will lead to hiring?


It isn't so much taxing companies more as much as it is cutting taxes to the middle/lower class. The latter is better for the economy according to the bipartisan Congressional Budget Office.

https://www.utsandiego.com/news/2011/apr/07/spending-better-tax-cuts-revive-economy-report-say/

"Corporate tax cuts generate 20 cents of economic activity for every dollar being cut, since the companies are now using the money more for rebuilding their reserves or paying off old bills instead of expanding their operations and hiring new employees....while tax cuts to the middle and lower brackets create $1.05, since the money is more likely to be spent quickly. As the money enters the economy, it has a 'rippling effect' of encouraging more economic activity."
Glenn On January 10, 2013
Average Jet Pilot


Deleted
Banned



Meridian, Mississippi
#4New Post! Aug 07, 2012 @ 17:19:00
Taxing corporations is pretty stupid...people pay taxes corperations simply pass the taxes to the consumers and they pay it...or the corperation moves their operations overseas.
Glenn On January 10, 2013
Average Jet Pilot


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Meridian, Mississippi
#5New Post! Aug 07, 2012 @ 17:42:48
And i forgot to mention Robin Hood in reverse is people keeping their hard earned money.
someone_else On August 30, 2012
Not a dude.


Deleted



American Alps, Washington
#6New Post! Aug 07, 2012 @ 18:27:14
@Glenn Said

And i forgot to mention Robin Hood in reverse is people keeping their hard earned money.



How do you figure that?
Leon On about 3 hours ago




San Diego, California
#7New Post! Aug 07, 2012 @ 19:58:09
@Glenn Said

Taxing corporations is pretty stupid...people pay taxes corperations simply pass the taxes to the consumers and they pay it...or the corperation moves their operations overseas.


So if we are not going to tax corporations, am I to assume that you prefer to pay higher taxes yourself to cover the state revenue? Because that's what Romney here is proposing.

And why do you think cutting consumer spending power like that will help corporations?
Leon On about 3 hours ago




San Diego, California
#8New Post! Aug 07, 2012 @ 19:59:41
@Glenn Said

And i forgot to mention Robin Hood in reverse is people keeping their hard earned money.


No. That's ending or stopping Robin Hood. Putting it in reverse is heading the opposite direction, meaning taking from the poor and giving it to the rich.
Leon On about 3 hours ago




San Diego, California
#9New Post! Aug 07, 2012 @ 20:03:40
It's simple. We can't have it both ways. Either we are going to have to pay higher taxes or the rich are. Otherwise the debt will continue to rise via the only other option of revenue for the state - borrowing.
Glenn On January 10, 2013
Average Jet Pilot


Deleted
Banned



Meridian, Mississippi
#10New Post! Aug 07, 2012 @ 22:13:36
@Leon Said

So if we are not going to tax corporations, am I to assume that you prefer to pay higher taxes yourself to cover the state revenue? Because that's what Romney here is proposing.

And why do you think cutting consumer spending power like that will help corporations?



We pay it everytime we buy anything made in America...and we pay it when our business goes overseas...so yea!
Pcptrvanion On November 10, 2014




Howe, Texas
#11New Post! Aug 07, 2012 @ 22:31:00
No corporation anywhere, in the history of the world, has ever paid a dime in tax.

When the government levies a tax against corporations one of three things happens.

1) The company could write a check with funds taken from their stock-holders.
Very unpopular.
Doesn't happen.

2) The company could write a check with funds saved by firing employees.
...again, not a popular move.

3) The company could write a check with funds provided by the customer in the form of higher prices and fees.
This is generally what happens.
Let the poor and middle class cough up more for their products and cover the cost of "sticking it to the man".

Case in point...do you know the current RETAIL price for a pack of cigarettes?
About 80 cents plus tax.
Philip-Morris doesn't pay taxes. They let the consumer do it.

Right now, in the United States, a gallon of gas RETAILS for about $2.70 plus tax.
Exxon doesn't pay taxes. They let the consumer do it.

Any time you support a business tax or corporate tax you've done nothing more than deputize a faceless corporation and empowered it to take more of YOUR money on behalf of the Federal government.
someone_else On August 30, 2012
Not a dude.


Deleted



American Alps, Washington
#12New Post! Aug 07, 2012 @ 22:34:35
@Pcptrvanion Said

No corporation anywhere, in the history of the world, has ever paid a dime in tax.

When the government levies a tax against corporations one of three things happens.

1) The company could write a check with funds taken from their stock-holders.
Very unpopular.
Doesn't happen.

2) The company could write a check with funds saved by firing employees.
...again, not a popular move.

3) The company could write a check with funds provided by the customer in the form of higher prices and fees.
This is generally what happens.
Let the poor and middle class cough up more for their products and cover the cost of "sticking it to the man".

Case in point...do you know the current RETAIL price for a pack of cigarettes?
About 80 cents plus tax.
Philip-Morris doesn't pay taxes. They let the consumer do it.

Right now, in the United States, a gallon of gas RETAILS for about $2.70 plus tax.
Exxon doesn't pay taxes. They let the consumer do it.

Any time you support a business tax or corporate tax you've done nothing more than deputize a faceless corporation and empowered it to take more of YOUR money on behalf of the Federal government.


You do understand that they're going to take your money one way or the other right? There were two options, increase corporate taxes (which you've vehemently opposed here) or increase individual taxes. Either way, YOUR money is going to the government.

Which would you prefer? Paying it while getting something you want or just paying it and getting nothing tangible in return? That's the way I'm seeing it.
Pcptrvanion On November 10, 2014




Howe, Texas
#13New Post! Aug 07, 2012 @ 22:38:13
@someone_else Said

You do understand that they're going to take your money one way or the other right? There were two options, increase corporate taxes (which you've vehemently opposed here) or increase individual taxes. Either way, YOUR money is going to the government.

Which would you prefer? Paying it while getting something you want or just paying it and getting nothing tangible in return? That's the way I'm seeing it.



If the American people had a clue as to how much they were actually paying the Federal government there would be a tax revolt.

I would LOVE to see a single Personal Income Tax and ALL other taxes banned.
No with-holding. Write a single check once each year.
The people would be marching in the streets inside of a month.
someone_else On August 30, 2012
Not a dude.


Deleted



American Alps, Washington
#14New Post! Aug 07, 2012 @ 22:39:37
@Pcptrvanion Said

If the American people had a clue as to how much they were actually paying the Federal government there would be a tax revolt.

I would LOVE to see a single Personal Income Tax and ALL other taxes banned.
No with-holding. Write a single check once each year.
The people would be marching in the streets inside of a month.



I'm sorry, I don't quite understand what you're saying here.
Leon On about 3 hours ago




San Diego, California
#15New Post! Aug 07, 2012 @ 23:55:53
@Glenn Said

We pay it everytime we buy anything made in America...and we pay it when our business goes overseas...so yea!


Okay then, enjoy your higher taxes.
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