The economically clueless.

[bellisarius]

White House Press Secretary Jen Psaki claimed during Monday’s press briefing that it would be “unfair and absurd” for companies to raise costs on consumers in response to the Biden administration raising the corporate tax rate.

How stupid can you get?

 

[Lazaran]

.
She's perfectly correct.

The Democrats tax plan of RAISING the corporate rate to 26.5% for companies with MORE than $5 million in revenue, LOWERING the corporate tax rate to 18% for companies with $400,000 or less in revenue, and leaving the corporate rate at 21% for all the companies in between is beyond reasonable.

People seem to forget that the top tax rate for corporations was 39% before the republicans "Tax Cuts For The Rich" plan.

JFC

SAD!!!

 

[RoryN]

The economically clueless...How stupid can you get?

Ask those who voted for Trump.

For your nostalgic reading pleasure:

Why have Republicans stopped bragging about the stock market?

 

[CornusKousa]

.
She's perfectly correct.

No, she's fucking delusional as all the other (D)ipshits who think companies will just eat it.

All corporate and consumption taxes, get paid by the consumer 100%.

Ask those who voted for Trump.

For your nostalgic reading pleasure:

Why have Republicans stopped bragging about the stock market?

Rory, always with the totally irrelevant TDS induced deflection.

Because he can't actually support what the (D)ipshits are doing with anything else.

 

[YDB95]

How stupid can you get?

I ask myself that every time I come to this room...

(I don't expect you to get this, but she's right. The relationship in question here is nowhere near being as elastic as you think it is, and it may not be elastic at all.)

 

[YDB95]

.


People seem to forget that the top tax rate for corporations was 39% before the republicans "Tax Cuts For The Rich" plan.

And even that was historically low.

 

[CornusKousa]

I ask myself that every time I come to this room...

(I don't expect you to get this, but she's right. The relationship in question here is nowhere near being as elastic as you think it is, and it may not be elastic at all.)

Another leftist in denial of economic realities.

 

[pecksniff]

Another leftist in denial of economic realities.

YD always seems to understand those better than you.

 

[bellisarius]

Businesses do not pay taxes. They collect monies from their customers and pass a portion of said monies on to the government. To a business taxes are merely another cost of doing business, just like payrolls, material, services, and other incidental costs.

When faced with an increase in the cost of doing business the business owner has a list of options to choose from when dealing with the increases.

1. Raise prices.

2. Cut payroll. (layoffs)

3. Withhold any raises.

There are a host of permutations but those are the big three. Regardless of the permutations the fact remains that someone else is going to pay for that increase in the cost of doing business.

 

[Champakian]

I just posted this in bb's thread...

I have seen that position articulated here hundreds, maybe even thousands of times
in the discussion of raising taxes on business (and who pays for it).

Hey! Stupid! They just take it out of profits!

They have zero understanding of what a profit margin is.

(Of course, they also think that "not for profit" means you can run your business at a loss.)

 

[Champakian]

Businesses do not pay taxes. They collect monies from their customers and pass a portion of said monies on to the government. To a business taxes are merely another cost of doing business, just like payrolls, material, services, and other incidental costs.

When faced with an increase in the cost of doing business the business owner has a list of options to choose from when dealing with the increases.

1. Raise prices.

2. Cut payroll. (layoffs)

3. Withhold any raises.

There are a host of permutations but those are the big three. Regardless of the permutations the fact remains that someone else is going to pay for that increase in the cost of doing business.

It's almost always #1 when the tax rate is increased on everyone.

I noticed that yesterday at the store.

Prices were up on everything
that had been restocked.



But it sure felt good to know that you hit the big corporations right in the pocketbook!

 

[toeskr]

.
She's perfectly correct.

The Democrats tax plan of RAISING the corporate rate to 26.5% for companies with MORE than $5 million in revenue, LOWERING the corporate tax rate to 18% for companies with $400,000 or less in revenue, and leaving the corporate rate at 21% for all the companies in between is beyond reasonable.

People seem to forget that the top tax rate for corporations was 39% before the republicans "Tax Cuts For The Rich" plan.

JFC

SAD!!!

So base your lit future on whether, no, when the middle class will absorb the detrimental cost to the country. They always have, always will.

 

[toeskr]

And even that was historically low.

Taking 40% your hard earned income is low?

 

[Champakian]

So base your lit future on whether, no, when the middle class will absorb the detrimental cost to the country. They always have, always will.

100% correct.

The middles class bears the brunt of all taxation
whether it is direct or, the politically favored, indirect.

 

[ll74]

White House Press Secretary Jen Psaki claimed during Monday’s press briefing that it would be “unfair and absurd” for companies to raise costs on consumers in response to the Biden administration raising the corporate tax rate.

How stupid can you get?

So did companies lower costs to consumers when corp tax rate was lowered?

 

[Champakian]

Do you even know the answer to your question?

 

[bellisarius]

So did companies lower costs to consumers when corp tax rate was lowered?

The answer is the obverse of the aforementioned big three. they may;

1. Lower prices

2. Hire more employees

3. Give existing employee raises.

Or permutations of the above. It depends on the sector the company is dong business in, competitive posture, etc.

 

[ll74]

The answer is the obverse of the aforementioned big three. they may;

1. Lower prices

2. Hire more employees

3. Give existing employee raises.

Or permutations of the above. It depends on the sector the company is dong business in, competitive posture, etc.

Speculation is cool. I wasn't asking for speculation.

 

[ll74]

Do you even know the answer to your question?

Do you?

 

[Champakian]

You only offered speculation...

 

[ll74]

You only offered speculation...

I asked a question.

 

[bellisarius]

You only offered speculation...

Actually he offers assumption. The assumption that the business owners just pocket the money and there are some that just might do that. Generally speaking that falls under the heading of 'Bad Business Decision.'

 

[Champakian]

Actually he offers assumption. The assumption that the business owners just pocket the money and there are some that just might do that. Generally speaking that falls under the heading of 'Bad Business Decision.'

I know. It's the other side of the coin that I was talking about.

Taxes never raise prices and corporations never reflect
any savings or lowered costs in their prices.

It's more million-man math...

 

[Champakian]

Questions are often asked to assert a point
and usually that point is laughable which
is why there are things said rhetorical...

 

[ll74]

Actually he offers assumption. The assumption that the business owners just pocket the money and there are some that just might do that. Generally speaking that falls under the heading of 'Bad Business Decision.'

I was basing my question on your assertion. And I'm generally curious.

Your assumption would only be proven with a certain answer. (and I never speculated what the answer was, you assumed that I did)