Grrrrr! This irritates me.
10-16-2008, 06:31 PM
#21
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A high school freshman in economics 101 gets it. If you tax the employers of the world, they will
limit their costs to maintain their profit. They will, therefore, buy less of everything in their business, invest less inside and outside their business and lay employees off.
Corporations don't pay taxes, in general. They pass those taxes on through as business costs and raise the price of their product/service.
This country needs spending. It needs real estate sales, it needs durable goods purchases, it needs more employment and higher wages, etc.
Tax the people who do facilitate the above, limiting their income, and ALL OF THE ABOVE, the staples of the economy, collapse.
Seriously, it's not that hard to see.
Of course a large percentage of the people voting for this type of taxation don't pay taxes and are looking at the pure checks and other handouts it will provide (housing help, socialized medicine, free college education). They don't realize that the taxes that Obama plans on collecting will not be there to collect in a deflated economy or from people smart enough to get around them legally.
44% of American's don't even pay income tax. Those same 44%, according to the WSJ, will be getting actual checks from the govt.
All great to get elected and to garner the vote, but it's so short sighted and it simply cannot work.
Mike S
Corporations don't pay taxes, in general. They pass those taxes on through as business costs and raise the price of their product/service.
This country needs spending. It needs real estate sales, it needs durable goods purchases, it needs more employment and higher wages, etc.
Tax the people who do facilitate the above, limiting their income, and ALL OF THE ABOVE, the staples of the economy, collapse.
Seriously, it's not that hard to see.
Of course a large percentage of the people voting for this type of taxation don't pay taxes and are looking at the pure checks and other handouts it will provide (housing help, socialized medicine, free college education). They don't realize that the taxes that Obama plans on collecting will not be there to collect in a deflated economy or from people smart enough to get around them legally.
44% of American's don't even pay income tax. Those same 44%, according to the WSJ, will be getting actual checks from the govt.
All great to get elected and to garner the vote, but it's so short sighted and it simply cannot work.
Mike S
10-17-2008, 03:16 AM
#22
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What I was trying to say.....
I thought that it was brilliant that McCain found "Joe Plumber"; an average guy who is trying to realize the American Dream by working his way up to a point where he can make the big jump - buy a business. Wow!
We find out a day later that this guy is a fraud. (this irritated me). He has a lien on his house for back taxes, he made less than $45k last year (no possible way he could afford the business - he would need $1mm in assets for any bank to back him) and it turns out, he is a former radio personality trying to get back in the limelight. Oh, no interest in buying any business at all.
If this were to be be a successful find, make it be a legitimate story - show that the American Dream can actually exist. (i'm sure somewhere it does).
Until now, I was going to give the nod to John, but this "stunt" just irritated me beyond belief.
It sucks Illinois is already decided - now I probably won't vote. I'm irritated.
We find out a day later that this guy is a fraud. (this irritated me). He has a lien on his house for back taxes, he made less than $45k last year (no possible way he could afford the business - he would need $1mm in assets for any bank to back him) and it turns out, he is a former radio personality trying to get back in the limelight. Oh, no interest in buying any business at all.
If this were to be be a successful find, make it be a legitimate story - show that the American Dream can actually exist. (i'm sure somewhere it does).
Until now, I was going to give the nod to John, but this "stunt" just irritated me beyond belief.
It sucks Illinois is already decided - now I probably won't vote. I'm irritated.
10-17-2008, 06:26 AM
#24
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redistribution of wealth is just plain wrong in my opinion.
I understand why there isn't a lot of sympathy for people who make over $250K per year, but that's politics for ya. Pander to the lowest common denominator... never mind if it doesn't make any economic sense.
10-17-2008, 07:51 AM
#30
I concur...and so do others...
Excellent op-ed from Bloomberg.<ul><li><a href="http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_shlaes&s id=alg6mvMcNqpk">The legacy of Reagan and taxes...</a></li></ul>