The extent to which these clowns are willing to protect the wealthy who, by their own rhetoric, view them as "failures" is truly mind boggling. Wealthy Republicans are telling you that you aren't as good as they are simply because you're not rich. It's quite fascinating to watch.
You may be accusing the wrong people. Take a look in the mirror.
Why are you so dense? Corporations don't pay taxes. Their customers pay them. If corporations pay more, their customers pay more, not less.
You purposely misstated him. Nowhere did he say taxes were the reason for good or bad years. Your little commie brain just can't digest the fact that consumers ultimately pay corporate taxes.
Ever hear of after tax earnings? You think you made a valid argument?
That must be why they spend millions lobbying the government to lower them huh, for the customers...
Let's examine how ignorant this claim is..
You're doing a decent job of teaching statistics and economics along with political science. Nicely done! The interdisciplinary thing is tricky for a lot of folks to manage, you're making it look easy.Let's examine how ignorant this claim is..
"Corporations don't pay taxes, their customers pay them."
Meaning, if we raise the corporate tax codes, prices will rise because their customers are paying more to make up the difference in higher taxes. If this is true, the inverse should also be true, that if we lower the corporate tax codes, prices will fall because the money that would have gone to paying higher taxes will now go to profit
Let's look at the CPI again...
OK, so beginning around the 1970s, prices steadily begin to rise. What happens to the corporate tax rate during that same period?
They go from around 50% in 1950 to 18% in 2011, a decrease of -32%
So if corporations are shifting their tax burden off onto their customers, and their customers are paying the lower corporate tax rate, why are they still paying higher prices?
"Inflation" does not account for the -32% decrease we see in the drop in corporate tax rates
The rate of inflation has remained relatively constant (which is why the slope on the CPI graph is a gradual incline) since 1960 sub the 'hyperinflation' of the 1970s. You can actually identify both slight peaks in increased prices on the first graph (represented by the gray shaded areas) that represent both of those spikes of inflation in the 70s and 80s on the third graph. You can also identify the drop in prices just after the 08 financial crisis when the rate of inflation dropped below 0%.
So there you have it. Corporate tax rates have absolutely nothing to do with consumer prices. Prices rise and fall because of the rate of inflation and competition in the marketplace.
We live in a global economy.
the lowest effective tax rate in the world, actually.
Oh I beg to differ.
i own a business and you sell timeshares for a reason. you are an employee, i am the employer.
Collapse is without a doubt the single scariest thing I've ever read in my life.
Yeah buddy!
Both are incredibly insightful, particularly GG&S! That book definitely gets credit for peaking my interest in this stuff. Collapse is pretty depressing, especially given the current political and economic climate, but still an awesome resource for knowledge.
What did you think of em?
What happened to the "corporate taxes get pushed onto the customer" argument?
Both incredibly terrifying and incredibly inspirational, eh?
My friend, Collapse is why I'm doing what I am doing in my basement.
How did you come across the book?