Guest Post by Jesse
The notion that the corporations are going to use their windfalls for productive expansion and higher wages for workers is utter fantasy.
They have not done so for over twenty years, and they are hardly urged to change that, and certainly not by anything in this latest change in tax policy. Its purpose is to put more money in the pockets of the powerful and fortunate, pure and simple.
Increased taxes on consumption and consumables, including imports and sales taxes, are generally regressive taxes, falling most heavily as a percentage of income on the broader public.
The promises of great growth, investment, and trickle down prosperity are the same old canards and misdirection, put forward by the moneyed interests’ flim flam men and their carnies.
What a buffoon. Its purpose is to prevent the flow of capital to low tax jurisdictions. The corps will make money. They will choose the place where they make the most. The US has had the highest corp tax rates in the world. That is a good thing how?
It is patently absurd to tax the job creators. Corp taxes are headed to zero sooner or later.
That question should be asked to China, India, Pakistan, etc.
They can easily explain it to you.
Jesse has outed himself as a hard core leftist. And a very angry one.
Well, if you don’t like trickle down, why not try supporting yourself with trickle up from the masses. First, become a community organizer. Then collect victims and demand the rich pay your way. When they don’t, get government to force them.
Henry Ford CREATED a market which had not existed when he paid his employees $5.00 per day. The average wage of the day was around $1.25 per day. His premise was not entirely altruistic as assembly line work was monotonous; a way had to be found to retain employees, as well. Of course, the wall street types and the banksters howled that Ford’s wage rates would destroy capitalism (as they knew it–those at the top reap all of the benefits while the “proles” are forced to live on a bare subsistence wage, due to the machinations of those at the top). Guess what?? The OPPOSITE happened. Henry Ford knew one of the basic tenets of a truly free, capitalistic society, that a well-paid work force would be able to participate and contribute to a strong economy, unlike what is taught in business schools today–that wages must be kept to a bare minimum and that the stockholder is king. Our “free trade” politicians have assisted the greedy wall street types and banksters in depressing wages on the promise of cheap foreign labor and products. A good example of this is the negative criticism that Costco receives for paying its employees well above market wages. These same wall street types praise Wal-Mart for paying its employees barely subsistence wages while assisting them in filling out their “public assistance” (welfare) forms. Any sane person KNOWS that in order for capitalism to work, employees need to make an adequate wage. Unfortunately, this premise does not exist in today’s business climate.
Henry Ford openly criticized those of the “tribe” for manipulating wall street and banksters to their own advantage, and was roundly (and unjustly) criticized for pointing out the TRUTH. Catholic priest, Father Coughlin did the same thing and was punished by the Catholic church, despite his popularity and exposing the TRUTH of the American economy and the outsider internationalists that ran it . . . and STILL run it.
Our “race to the bottom” will not be without consequences. A great “realignment is necessary (and is coming) . .
Repeating the same old Henry Ford lie does not make it true. A simple bit of historical research will show the old Ford canard to be a lie. But hey, it suits a certain narrative.
https://www.breitbart.com/big-government/2018/07/03/blue-collar-wages-rising-red-hot-economy/
Company I work for has made several large investments in new equipment for the facility I work in this year and opened a second facility here in town expanding our product line in addition to giving everyone a nice raise. They made the raises retroactive to the beginning of the year, increased the bonus pool and added stock options as well.
No complaints here.
Indentured works in a very specialized field that is starting to find expanded tech markets/.gov.
Taxation is theft. If I get to keep more of MY earnings all the better.
Same goes for corps, who, you know, are ultimately owned by people.
Ah the so called job creators. The 1950’s were the most prosperous times in America. What was the corporate tax rate then; around 90%. I grow tired of people defending the incredible difference in wealth from the 1% and the middle and lower class. What would the so called “job creators” do if the whole world taxed them at 90%? They would still do what they do just for a lot less profit. Globalism has allowed them to continue a race to the bottom in wages, for their profits.
If that is the world you would like to live in, the new Oligarchy, then enjoy your time while you can, because without fail in the past it ends in one way. War and death. Please explain to me how a 10% tax cut for corporations to buy back more of their stock to enrich shareholders possibly helps the majority of people in America, or anywhere.
I have worked all my life and never took a dime, but anyone who does not see this setup is stupid. They are making 2 classes the rich and everyone else. This will lead to a dictatorship, or a bloody revolution. It will certainly not stay the way it is much longer.
Corporations are psychopaths, caring about their own profit and survival above all else. Look it up. Corporations are killing the world with the “one step forward two steps back” philosophy. If Corporations are people and commit a crime, like people, if the crime is severe enough, say like most banks, they should have been executed. What we have now is capitalism for the middle class and poor and socialism for the corporations. There profits are privatized, the losses socialized to the taxpayer.
Anyone who thinks this is fair, must be an idiot, or part of the 1%, so I doubt Buffet, or Dimon are hanging out here, so that narrows it down.