A BLOG rife with wit, sarcasm, and the endless joy which comes from taunting the socialistic and unpatriotic liberal left. Logical thoughts and musings ONLY need reply...unless you're really, really funny. You have the Uncivil Right to be an IDIOT. "Give me LIBERTY, or give me DEATH!"
Monday, January 13, 2014
ALTERNET is not for business
This is the title of an ALTERNET article: 4 Reasons Why the Corporate Income Tax Should be Doubled—Not Abolished By Paul Buchheit 1. Corporations Have a Proven Record of Spending Tax Breaks on Themselves "But they used over 90% of the money to "enrich shareholders and executives" by paying dividends and buying back their own stock. At the same time, they cut jobs and research spending." "The increasing level of stock buybacks epitomizes the transition from corporate responsibility to corporate self-indulgence. Stock buybacks are a means by which major corporations seek to manipulate the market prices of their own shares, thereby enriching executives with plentiful stock options." HERE I THOUGHT THE PRIMARY GOAL OF A BUSINESS IS TO MAKE A PROFIT FOR ITS INVESTORS! SO MR. BUCHHEIT IS UPSET THAT BUSINESSES ARE DOING EXACTLY WHAT THEY ARE SUPPOSED TO DO. OBSERVATION NO. 1: MR. BUCHHEIT DOESN'T KNOW ANYTHING ABOUT RUNNING A BUSINESS...GOT IT. 2. They Only Pay Half of Their Tax Obligation Mr. Kotlikoff claims that "the United States may well have the highest effective marginal corporate income tax rate of any developed country." "But the effective rate in the U.S. is not high at all, and it keeps dropping. For over 20 years, from 1987 to 2008, corporations paid an average of 22.5% in federal taxes on their profits. Since the recession, this has dropped to an outlandishly low 10% -- even though their profits have doubled in less than ten years." SO MARGINAL TAX RATES DROP AND PROFITS GO UP...JUST WHAT BUSINESS PEOPLE BELIEVE. TAXING SOMETHING PRODUCES LESS OF IT AND SUBSIDIZING THINGS PRODUCES MORE OF IT. I THINK A LIBERAL IS BEING UNVEILED. HIS APPARENT HATRED OF BUSINESS IS SHOWING, BUT THEN AGAIN, I HAVE NEVER RECEIVED A JOB FROM A POOR PERSON. AND RATHER THAN SEEING INCREASED PROFITS AS A GOOD THING, BUCHHEIT DECLARES IT'S BAD. 3. They've Stopped Investing in America "The Bureau of Labor Statistics (BLS) provides job data by size of business. A review of job gains and losses reveals that since the recession: --Almost 4 million jobs have been lost, almost all at companies with less than 50 employees or more than 1,000 employees. --Only 2% of the jobs were lost at medium-sized companies (100 to 999 employees). "While small companies have been hit hardest by the recession, large corporations have continued to accumulate massive profits, and yet they're not using their immense gains for new initiatives." "Instead, as a National Bureau of Economic Research study confirmed, startups and young firms are of primary importance to U.S. job creation."" AS CONSERVATIVES HAVE SAID FOR MANY MANY YEARS, THE SMALL BUSINESS OWNER DRIVES THE JOB MARKET. HENCE, OBAMACARE WILL AND HAS DESTROYED JOBS BY PUTTING UNDUE BURDENS ON THE SMALL BUSINESS OWNER. PERHAPS BUCHHEIT CAN NOW SEE WHY SMALL BUSINESSES ARE NOT HIRING. BIG GOVERNMENT REGULATIONS AND MANDATES MAKE IT DIFFICULT TO EARN PROFITS. IT'S REALLY VERY SIMPLE ECONOMICS MR. BUCHHEIT. 4. Their Vision of Tax-Free Prosperity is a Delusion "Without tax revenue, Ireland turned to austerity measures, some of the toughest in Europe, while the wealth of the boom years flowed upward to a small minority. The process should be familiar to us. Paul Krugman notes that Ireland collapsed "By being just like us, only more so." "U.S. corporations need to pay for the many years of employee productivity and public research that built their trillion-dollar industries. Perhaps a minimum tax on U.S. income, or a return to the public on their use of infrastructure and government research, or a minimum investment for job creation. But reducing their taxes would just legitimize their refusal to meet their obligations." ONE NOW CAN SEE HOW DELUSIONAL THE AUTHOR IS BY STATING A TAX-FREE ENVIRONMENT IS A DELUSION. IF MR. BUCHHEIT HAD HIS WAY, HE WOULD TAX BUSINESSES TILL THEY WENT OUT OF BUSINESS BECAUSE IT WAS NO LONGER PROFITABLE, THEN WONDER WHY THEY WENT OUT OF BUSINESS...A TYPICAL LIBERAL.
totalkaosdave, 3:46 PM|