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Senior Contributor

Re: Listening to all the rants about cutting business taxes.

Bingo!  Each and every month, the gov't publishes the trade deficit numbers for the previous month.  It's comical how the news media jumps on this each and every month stating it's because of the amount of oil we import.  I'm not sure how they come to this conclusion when two thirds of the monthly trade deficit comes directly from China who we import zero oil. 

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Senior Advisor

Re: Listening to all the rants about cutting business taxes.

What are you doing. Shutting your business down because you might have to pay 3% more in income tax? Is it really stifling your plan to expand and earn? Who do you know that is doing that. Name one or two. It's all garbage because when the Clinton rates were in people will still working and producing for that 3% less.

 

I do think a transaction tax would be good in that every thing that is bought or sold is taxed. No tax avoidance and foreign goods taxed at the same rate as domestic goods. BUt no giving business and investors a free ride.

 

Giving business a lower rate will not end tax avoidance. It will merely reduce the amount they will avoid. That is the problem with this country in that many folks think that tax avoidance is something to be proud of. What would you say about a draft dodger that avoids military responsibility. Is avoiding tax obligations any less egregious?

 

 

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Senior Contributor

Re: hardly

small businesses like ours only create 94% of their jobs in america --you missed just a hair

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Senior Contributor

Re: hardly

Walmart started out as a small business.  GE started out as a small business.  Let's be honest here for a minute.  All taxes could be removed on small businesses, but very few would create jobs.  Why?  What purpose would it serve to create jobs when there just isn't the demand there for their business to put out more product.  Cheap interest and debt leveraging created a mirage.  Now, we face a burdensome oversupply of just about every product out there. 

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Senior Contributor

Re: Listening to all the rants about cutting business taxes.

How about those companies that gave their CEOs more than they paid in taxes? The problem is that management has become as bad as Union bosses. They care more about their personal revenue than they do about their company's. Greed is this country's biggest problem. I've got mine, you get yours!

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Senior Contributor

Re: hardly

"small businesses like ours only create 94% of their jobs in america" ...that is because big business outsourced to other countries!

 

by the way --if your businesss tax goes to zero, how many jobs are you planning to create?

Senior Contributor

Re: hardly

several---we plan on taking the tax money and getting bigger--how many jobs have you made

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Senior Contributor

Re: hardly

you just hit the nail on the head............first you have to bring demand back before small buiness will start hiring,  tax cuts are not the silver bullet  wihen 70/75% of our econony is comsumption.   The question then is how do we get comsumption back today when we are destorying the middle class with wealth redistribution from the bottom up.

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Senior Contributor

Re: hardly

Actually, 70-75% of our economy is based upon services.  This is not sustainable.  We have to get our manufacturing base back.  Then, we have to make products that those outside of the U.S. want.  If we've learned anything, it should be that taxes do follow the trickle down theory to a T.  If we tax big business more, they will simply pass the tax right on down to the poor consumer.  The reason is because big business has become so consolidated.  Take the banking industry for example.  The banking industry today is bigger and more consolidated than it was prior to 2008.  The bigger failed banks got swallowed up by even bigger banks.  Taxing big oil sounds good in theory until we all realize that our fuel prices just went higher to pay their extra tax. 

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Senior Contributor

Re: hardly

I try to keep my farm at the size where I can handle everything myself. I have a cousin whose farm was tens times as large as mine. He never paid any income taxes. He always had a new pick-up and almost new equipment. Five years ago he declared bankruptcy and now he is just another farmer's hired man. Bigger isn't always better.