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Quote of the day: A Big Bang led to star being born.

WELCOME new member AMaizawing (April 03, 2020)


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zigbeeCorporations not paying fair share? Or, pass the taxes onto consumers?
#1
Hmmmmmmmmmmmm...............someone in Biden Admin doesn't understand economics very well.

"I would say that the reason why the president is proposing these corporate tax increases is because that's just the right thing to do," Rouse said. "He believes we should be... encouraging these corporations to pay their fair share."

The Biden administration announced a massive spending plan last week that it said would be paid for with an increase in the corporate tax rate and taxes on wealthy individuals. The plan would roll back part of former President Donald Trump's 2017 tax cuts.

While Biden has been promoting the proposal as a way to tackle infrastructure concerns, a Fox News analysis of the "American Jobs Plan" shows that less than $750 billion of the spending would actually go towards infrastructure.


Despite Rouse saying Biden's proposals are "good for the American economy," the Tax Foundation says the corporate tax increases could reduce the GDP and eliminate 159,000 jobs.

"The economic literature shows that corporate income taxes are one of the most harmful tax types for economic growth, as capital investment is sensitive to corporate taxation," an analysis by the group reads. "The corporate income tax raises the pretax return firms required to pursue investment opportunities, reducing the pool of investments that firms find worthwhile to pursue. This lowers long-run economic output, reducing wages and living standards."


Senate Republicans vehemently oppose the spending plan. They say it is too expensive and goes far beyond infrastructure needs, such as replacing aging bridges and highways.

It "redefines infrastructure to include hundreds of billions of dollars of spending on priorities like health care, workforce development, and research and development," Sen. Rob Portman, R-Ohio, said.



Sen. Ted Cruz, R-Texas, said the $2 trillion plan is "really just the Green New Deal lite masquerading as an infrastructure plan."

"It contains sweeping far-left priorities like attacking blue-collar Americans†right-to-work protections, a huge favor to big labor bosses," Senate Minority Leader Mitch McConnell, R-Ky., said.
Make America Honest Again
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#2
Amazon gets 120 million tax refund every year. Corporations will extend cost to consumers-no doubt. But hos does Amazon get away with paying zero taxes?????
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#3
(04-04-2021, 08:00 PM)Bonebuck Wrote: Amazon gets 120 million tax refund every year. Corporations will extend cost to consumers-no doubt. But hos does Amazon get away with paying zero taxes?????
I'm sure it has to do with the tax code.  Are you sure they pay zero?  Or is this like you and I where we over paid and get refund?
Make America Honest Again
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#4
Corporations do not pay taxes. Consumers pay taxes

No longer GroupThink 'woke'.  but it was fun while it lasted.
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#5
I've always believed the term liberal economist was an oxymoron.  I didn't realize there were actually grown-ups that thought this stuff was a good idea.  Always figured Paul Krugman, and clowns like him, to be an over-glorified act/political hack.  

Want to decrease tax revenues?  Raise taxes and see what happens over a period of time.  It's why I don't think these clowns really believe that tax hikes will pay for stuff long term.  I'm thinking it's really about dependence and control.  And "liberal economists" (done laughing yet?) are just front men pushing the lie(s).
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#6
(04-04-2021, 08:01 PM)zigbee Wrote:
(04-04-2021, 08:00 PM)Bonebuck Wrote: Amazon gets 120 million tax refund every year. Corporations will extend cost to consumers-no doubt. But hos does Amazon get away with paying zero taxes?????
I'm sure it has to do with the tax code.  Are you sure they pay zero?  Or is this like you and I where we over paid and get refund?
I stand corrected Zig. Under Trump in 2019-Amazon paid taxes. 

https://www.cnbc.com/2020/02/04/amazon-h...for%202017.
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#7
Thinking more about Amazon-they are also getting probably a huge tax break for going zero emissions on their delivery trucks. I know by 2035 they are claiming to leave zero footprint for local/state deliveries(obviously not including airline)
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#8
They do need to close some loopholes, but overall even the hated big corporations pay a ton of taxes that don't show up on their ledger via local, state, and payroll taxes.

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