For all those people who think that cutting corporate taxes will increase revenue

[SR71]

Originally Posted by JEROME DA GNOME

Yes, and if there are no new innovations then there will be no new jobs.

Would you have a society which does not reward the innovator?

Innovation of late has seemed to be aimed at eliminating jobs, rather than creating jobs. Perhaps you hadn't noticed.

[Jerome]

No, actually the jobs are moving overseas due to the high taxes here.

[SR71]

Originally Posted by JEROME DA GNOME

No, actually the jobs are moving overseas due to the high taxes extremely low wages here there.

[Adam]

Originally Posted by Sauron

Uh, wrong. Can you figure out why this cartoon version of economics 101 is busted, or do you require hints?

Still waiting for hints? Maybe you could start by defining demand.

[Kael]

No, no, when you define something it leaves room to manipulate the game, remember?

Everything must be kept properly vague, because that's how we arrive at truth!

[Jerome]

You people have no idea the burden government places on the employer via taxing the labor of the employee, nor do you understand the hidden inflation tax which necessitates a relative high wage.

[LadyShea]

Are your businesses not incorporated, Jerome?

[Jerome]

Originally Posted by LadyShea

Are your businesses not incorporated, Jerome?

They all are, and guess what, most of the taxes collected have nothing to do with profit, they are required to be paid to be allowed to do business.

[LadyShea]

One of the main effects of incorporating is separation of the principals' wealth and assets from the corporation's wealth and assets, which in turn offers a protective buffer (or insulation if you will) to the principals personally.

Your response below indicated you were unaware of this separation of owner and business in the case of a business default.

Originally Posted by JEROME DA GNOME

Nope, that is only how it works in your imagined world. I saved for years, living well below my wage to have enough to create for others.

[Angakuk]

I think you misread him there, Lady Shea. I believe that JDG was saying that he scrimped and saved until he accumulated enough money to start a business and that he started that business with his own hard-earned money. If the business, incorporated or not, had gone bust it would have been his money that was lost. You can't separate your assets and the businesses' assets when your assests have become the businesses' assets.

[LadyShea]

Ah. Yes, although he risked his initial investment capital, his other personal assets would not have been touched if the corporation went bankrupt.

At this point, the investment should have been paid back (or is being paid back) if the businesses are self sustaining.

[Vivisectus]

plus let us not forget the whopping bankloan, unless you are too retarded to write up a convincing business plan.

[Jerome]

Originally Posted by Vivisectus

plus let us not forget the whopping bankloan, unless you are too retarded to write up a convincing business plan.

Banks loan me money with just my request and my signature.

[Vivisectus]

Right... so it is in fact NOT your hard-earned savings that you risk? In fact, some savings went in there at one stage, but by now that is a minor factor when compared to other peoples money?

[Jerome]

Originally Posted by Vivisectus

Right... so it is in fact NOT your hard-earned savings that you risk? In fact, some savings went in there at one stage, but by now that is a minor factor when compared to other peoples money?

Foolish child, my savings and my effort built the machine, now my efforts and my profits run the machine. I rarely borrow money, I mostly use the profits, the only reason I ever choose to borrow for expansion is because I am over taxed.

[Angakuk]

Originally Posted by LadyShea

Ah. Yes, although he risked his initial investment capital, his other personal assets would not have been touched if the corporation went bankrupt.

At this point, the investment should have been paid back (or is being paid back) if the businesses are self sustaining.

You are making the assumption that the owner of the business held back some portion of his/her personal assests at start-up time. I don't think it is terribly unusual for people who start a small business to sink everything they own into said business. Not smart perahaps, but not terribly unusual.

[Jerome]

Angakuk, you are not following the meme, only people that have been lucky enough to have been born with money can start a business.

[SR71]

Tell us the whole story. Why so mysterious? It all sounds pretty hokey so far.

[chunksmediocrites]

Originally Posted by JEROME DA GNOME

You people have no idea the burden government places on the employer via taxing the labor of the employee, nor do you understand the hidden inflation tax which necessitates a relative high wage.

You people indeed. Please, capitalist-splain the terrible burden you've undertaken, all so you can create jobs, while the government and the proles parasitically swing from your teats. Inflation is your enemy, you people! Government is your enemy, you people! Taxes are your enemy, you people! The government steals money from the honest job-creators, and then turns around and gives it to old retired parasites, you people! What a racket! You people don't know what I know!

Hey, remember the good ol' days, before the Social Security Boondoggle? Back when three times as many old people lived in abject poverty?

Even though the tax burden is lower than it has been in many decades, and even though corporate taxes are a smaller percentage than most major industrialized nations:

corporate taxes are expected to raise just 1.3 percent of G.D.P. in revenue this year, about a third of what it was in the 1950s.

But Jerry has a lie to sell you and an axe to grind:

Originally Posted by JEROME (Jerry) Soetoro

No, actually the jobs are moving overseas due to the high taxes here.

In case anyone forgot.

[Jerome]

Chunks, I don't have any enemies, I live a rather pleasant life, all I am doing is explaining the reality to those that know little more than memes.

[Jerome]

Chunks, tell Bruce that federal income taxes are not the only taxes that exist and that to present them as if other taxes do not exist is extremely dishonest.

[Jerome]

Hey Chunks, did you know that Bruce's dishonesty also excludes S-Corps as they pay no corporate income tax, the shareholders pay personal income tax on the profits, yet his presentation pretends these income taxes don't exist!

Chunks, Bruce is a liar, you shouldn't read him any more.

[Sauron]

Originally Posted by JEROME DA GNOME

They all are, and guess what, most of the taxes collected have nothing to do with profit, they are required to be paid to be allowed to do business. to continue enjoying the business environment, access to capital, labor and technology, material benefits, education, police force, water/sewer/electric power/communications/roadway/infrastructure that made all these hypothetical businesses able to operate in the first place.

[SR71]

Apparently taxes aren't so high that companies can't make record profits, because they are making record profits.

Companies near record profits amid high unemployment | The Raw Story

[Crumb]

Right. Companies are making record profits and governments are cutting vital social services due to budget shortfalls but CORPORATE TAXES ARE TOO HIGH!!!!!