Moderators: richierich, ua900, PanAm_DC10, hOMSaR
casinterest wrote:Looks like everyone is tired of seeing corporations with Tax Havens in Ireland. Wonder if they will do anything about Ships being registered in Panama .
Dieuwer wrote:Tax rates mean nothing if the tax code is riddled with loopholes.
Tugger wrote:Dieuwer wrote:Tax rates mean nothing if the tax code is riddled with loopholes.
That's why this is a minimum.
Tugg
GalaxyFlyer wrote:Yes, because collusion is good and competition is bad
GalaxyFlyer wrote:Yes, because collusion is good and competition is bad
GalaxyFlyer wrote:Yes, because collusion is good and competition is bad
LCDFlight wrote:Probably nothing will change. Tax lawyers will get a bit richer. But, hoping to be surprised.
Dogman wrote:GalaxyFlyer wrote:Yes, because collusion is good and competition is bad
Thinking in absolutes is usually very dangerous. Yes, competition can be bad, under certain circumstances. Especially in the race to the bottom.
GalaxyFlyer wrote:Dogman wrote:GalaxyFlyer wrote:Yes, because collusion is good and competition is bad
Thinking in absolutes is usually very dangerous. Yes, competition can be bad, under certain circumstances. Especially in the race to the bottom.
Corporate taxes can fall on labor, consumers, or the shareholders, economists only agree it doesn’t fall on the corporation. Labor sees lower wages, consumers pay higher prices, shareholders (capital) see lower returns. Labor gets hit a second time when their retirement plan or pension gets lower returns. At best, it’s an even three-way split, at worst, labor gets the big hit thru lower investment in their productivity.
https://www.forbes.com/sites/adammillsa ... 54c0d6808e
Dieuwer wrote:A possible solution to shrink the gap between wages and GDP would be to renounce all income taxes and instead levy corporate and capital gain taxes only.
Dieuwer wrote:That's what you get when you ditch sound money and abandon the Gold Standard. You will immediately get fiat currency inflation which acts as a transfer of wealth from the labor class to the capital class.
Aaron747 wrote:Dieuwer wrote:A possible solution to shrink the gap between wages and GDP would be to renounce all income taxes and instead levy corporate and capital gain taxes only.
A fascinating proposal but it would naturally never succeed in the US system. Too few with too much to lose.
Dieuwer wrote:Aaron747 wrote:Dieuwer wrote:A possible solution to shrink the gap between wages and GDP would be to renounce all income taxes and instead levy corporate and capital gain taxes only.
A fascinating proposal but it would naturally never succeed in the US system. Too few with too much to lose.
I think it could work very well. Take two extreme examples:
1) Income taxes at 50%, no corporate taxes.
Workers will feel less engaged with their work as they take home half of what the made in gros.
Incentive to generate as much profit as possible, nothing else matters.
If the business does well, employer makes out like a bandit.
Only owner wins.
2) No income taxes, 50% corporate taxes.
Works will feel engaged as all of their effort is expressed in wages. Business owner can pay him/her-self bigger salary and pay no taxes if so preferred.
Incentive to convert profits into wages. No incentive to have large profits on the books.
If this business does well, both employees and employer benefit as both receive higher and higher income.
Everyone wins.
And that’s why most Americans are actually liberals who call themselves conservatives and who vote for conservative politicians that favor policies and values those voters actually oppose. Are most voters mental zombies who are actually manipulated by oligarchs? That seems to describe today’s American “democracy.”
Tugger wrote:
Ask your body how good competition for its resources is. To my knowledge it works best as a cooperative system. Competition would have your as still just a bunch of microbes competing for resources.
The moral of the story is that competition is good but complex systems can succeed to higher levels when there is cooperative processes.
Tugg
GalaxyFlyer wrote:
Corporate taxes can fall on labor, consumers, or the shareholders, economists only agree it doesn’t fall on the corporation. Labor sees lower wages, consumers pay higher prices, shareholders (capital) see lower returns. Labor gets hit a second time when their retirement plan or pension gets lower returns. At best, it’s an even three-way split, at worst, labor gets the big hit thru lower investment in their productivity.
https://www.forbes.com/sites/adammillsa ... 54c0d6808e
Dogman wrote:Why did you separate the corporation and the shareholders? The American corporations are working in the shareholders interests, and if the shareholders see lower returns that means the corporation has less money too. Moreover, it's quite common for the shareholders to take out too much money out of the corporation, so the corporation may not even survive.
GalaxyFlyer wrote:Dogman wrote:GalaxyFlyer wrote:Yes, because collusion is good and competition is bad
Thinking in absolutes is usually very dangerous. Yes, competition can be bad, under certain circumstances. Especially in the race to the bottom.
Corporate taxes can fall on labor, consumers, or the shareholders, economists only agree it doesn’t fall on the corporation. Labor sees lower wages, consumers pay higher prices, shareholders (capital) see lower returns. Labor gets hit a second time when their retirement plan or pension gets lower returns. At best, it’s an even three-way split, at worst, labor gets the big hit thru lower investment in their productivity.
https://www.forbes.com/sites/adammillsa ... 54c0d6808e
Dieuwer wrote:Aaron747 wrote:Dieuwer wrote:A possible solution to shrink the gap between wages and GDP would be to renounce all income taxes and instead levy corporate and capital gain taxes only.
A fascinating proposal but it would naturally never succeed in the US system. Too few with too much to lose.
I think it could work very well. Take two extreme examples:
1) Income taxes at 50%, no corporate taxes.
Workers will feel less engaged with their work as they take home half of what the made in gros.
Incentive to generate as much profit as possible, nothing else matters.
If the business does well, employer makes out like a bandit.
Only owner wins.
2) No income taxes, 50% corporate taxes.
Works will feel engaged as all of their effort is expressed in wages. Business owner can pay him/her-self bigger salary and pay no taxes if so preferred.
Incentive to convert profits into wages. No incentive to have large profits on the books.
If this business does well, both employees and employer benefit as both receive higher and higher income.
Everyone wins.