1164
this post was submitted on 19 Aug 2024
1164 points (99.4% liked)
politics
19096 readers
3222 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Republicans love to harken back to “the golden age” of america. Ever wonder what paid for it? A big portion was .. corporate tax!
https://taxfoundation.org/data/all/federal/historical-corporate-tax-rates-brackets/
Corporate tax is currently at the lowest point since 1940
https://tradingeconomics.com/united-states/corporate-tax-rate
See this big drop in corporate tax? You thank ol’ trumpy for that
Along with personal income tax - Note this is the top bracket of tax
https://fred.stlouisfed.org/series/IITTRHB
Want your golden age back? Tax these fucking billionaire grifters.
Another thing that raising the corporate tax rate does is make it more profitable to re-invest your income into the company. Since they're only taxed on profits they'll pay zero taxes if they make zero profit. How do you do that? Expanding your business, spending money on R&D, and paying your employees more.
Edit: Haha, just kidding, they'll blow it on stock buybacks.
Ideally, yes - but until share buybacks are outlawed - companies will just ‘reinvest’ by buying up shares (increasing their price, and thereby existing shareholder wealth), and issuing them as bonuses to their C-suite in lieu of payment.. by-and-large avoiding a lot of the income tax that they would otherwise be due to be paid.
Our current late-stage capitalist corporate system is built upon layers and layers of tax-avoidance and self-enrichment at the cost of society as a whole.
One of the driving economic forces associated with taxation is human nature. You simply cannot legislate around it. Enter the Laffer Curve. Google it. Basically, if the government taxes at zero percent, it gets no revenue. That’s obvious. If the tax rate is 100%, you get the same result. People either won’t work or (more likely) they’ll work for cash under the table. Tax evasion becomes a full-time indoor sport. As government increases tax rates from 0% to 10%, it gets money! It gets even more if it goes from 10% to 20%. But soon that revenue curve that was steadily increasing starts to bend downward toward 0% again as tax rates increase. Liberals think that if you get $X with a tax rate of 33%, then you’ll get three times as much if tax rates triple to 100%. Nope! This isn’t just a theory. It’s a recorded historical event. We’ve seen certain tax rates be reduced and yet revenue increased! Magic? Nope. The tax rate was simply on the right side of the Laffer Curve. Makes sense! This principle also demonstrates that there is a maximum amount of revenue any government can extract from the population. Politicians promising more spending than this maximum revenue level are pandering, or perhaps are economicly uneducated. Perhaps they lack a understanding of human nature. They do understand that many voters are also economically uninformed and will vote for politicians who promise free stuff and a “tax the rich” solution to supposedly pay for it all. See you in the Bahamas!
Then put them all in the prisons and enslave them, as is legally allowed per the Constitution. They'll work with sufficient coercion. Have the CIA seize their overseas assets and repatriate it all, or if it's in a hostile country, have the CIA exfiltrate or destroy as necessary. Humans will work when enough physical and psychological pain is applied to coerce them. That, too, is human nature. If they attempt to flee, have the CIA find them, put them in unmarked vehicles, and extradite them back to US soil to be put back to work.
this isn't science, it is story telling