Originally posted at FMShooter
After automotive giant Ford announced it’s moving a project worth almost $1 billion dollars from Ohio to Mexico, the Biden administration remains silent. In December, Biden vowed to be “the most pro-union President” but has revealed plans of raising the corporate tax rate. Whilst on the surface, an increase might seem of benefit to workers, it’s anything but. The new plant Ford built after Trump lowered the corporate tax rate is now moving to Mexico because of Biden’s tax increase. In the process of the plant moving, workers were laid off leaving scores for the unemployment line.
Biden announced he plans to raise the corporate tax rate from 21% to 28%. Despite corporations now being required to pay more taxes from their revenue once the increase goes into effect, the burden will only fall on the consumer. For instance, McDonald’s – or on a personal level, your favorite local restaurant – gets notice that material costs (supplies have to be ordered through official channels) will be increasing from anywhere between 10 and 30 percent in the near future. How will corporations be accounting for this increase other than raising prices, laying off workers, and cutting hours?
Corporations will not simply “eat” these lost profits and will instead recover them from an already struggling American worker. Aforementioned layoffs will further stretch thin the average worker, who is already operating on a skeleton crew and more often than not, doing the work of multiple people. The profit deficit could also be made up from budget cuts, hiring freezes, spending freezes, even the selling or shutting down of operation – entire businesses.
It isn’t fantastical to think if corporations begin to lose business and their wide profit margins, that the wealth will be taken overseas. Corporations will move to a foreign country where they don’t have to pay taxes, which again only impacts the end-consumer who will be unemployed and unable to pay for goods if corporations start shuttering. The money will simply be gone. Will there be any other option save for taxing the middle class at an even higher rate when the wealth leaves?
Furthermore, the Trump administration spoke out against and criticized outsourcing in the automotive industry. When Trump promised “America first”, he meant it. In 2017, Ford canceled a project in Mexico and instead invested $1.2 billion into 3 Michigan factories after Trump merely called the company out for planning a project in Mexico.
The same story in Pennsylvania – Biden’s supposed “stomping grounds” – just like what’s happening in Ohio.
In Roaring Springs, PA. the Appvion Inc. paper mill plant is slated to shut its doors for good on April 1. 293 will be out of work, 250 of those jobs being unionized. State Senator, Judy Ward said she and other local officials “were all completely blindsided” by the plant’s closing. A plant founded in 1866 closed in just months under the Biden administration. If that isn’t an indicator of Biden’s real priorities for everyday Americans, I don’t know what is.
Only time will tell whether or not the stakes are as dire as they seem. Democrats, content to simply claim that they champion the average American, never seem to put their money where their mouth is. When Senator Tim Scott of South Carolina introduced a criminal justice reform bill in June 2020, there was no debate or compromise regarding the matter of the bill – Democrats instead chose to tank it. Scott’s bill would have made lynching a federal crime, tied federal grants to the use of police bodycams as well as grants for the elimination of police chokeholds, and even placed stringent requirements on “no-knock” raids.
Sure, though, let Democrats make their platform Black Lives Matter but that sure didn’t seem the case when they shot down Tim Scott’s bill addressing there were problems within our justice system that needed fixed.
My solution is to end all corporations. Reduce all regulations by 50%. Overly simplistic?
The corporate business structure is pure evil.
that would be heaven…so you’ll have to wait. ;0
“I hope they don’t raise your taxes, but if they do, I told you so.” – Donald J. Trump.
It didn’t even take 100 days.
The democraps have always been about tax and spend and social engineering. Nothing new here. The latest tool in their arsenal is election theft coupled with the Covid lockdowns. If they get their little HR1 bill passed into law, there will never be anything but democraps in office.
This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper
https://allpoetry.com/The-Hollow-Men
That golden oldie tune has lost its luster…Republicans ran up the debt more in 3 months than every President up to and including Carter. Republicans just want your money, liberals want your money and your young childrens hinies….
wrong,
Clinton doubled Ragan / Bush I debt
Bush II doubled Clinton
Obama double Bush II (at Obama’ end $19 Trillion)
Trump / Biden 8 years we will be north of $30T
No one cares about the debt. (until the USD is no longer the worlds reserve currency)
Thank God I didnt have kids.
Inflation is a tax.
Yesterday I felt like eating shit (just following suggestions some people have made to me). I wanted some Oreo cookies. Really, haven’t had one in over a year. So, a package weighing 1 pound 10 ounces cost $4.88! Almost five bucks for flour and sugar?? WTF!!
On the way home I put $20 gas in the car. Not even 7 gallons. Didn’t even move the needle to half full. fukmeupmuhass.
OTOH, blowjobs in my town are still only twenty bucks. Really … an arrest was reported in the local newspaper last week in the “Police Blotter” section.
How much are hand jobs? Can you save enough for the Oreos? Probably depends how far you have to drive.
I don’t pay for hand jobs.
I have hands. It’s free.
So if you factor in inflation, blow jobs are going down?
Well, yeah, somebody is going down!
Down like Kamala or down like Joe. Two very distinct things but they both suck.
Gomer’s on a roll here.
Biden with Obongo’s hand up his ass is doing what Obongo always dreamed of doing…..destroying the US.
ONLY individuals pay taxes. It can be no other way. Either taxes will be passed on in higher finished goods costs, lower wages (or increases), lower dividends, or lower quality. In the end, the little guy will always pay. And let’s not forget that a tax on one company in the supply chain will also be passed onto all others that get their finished goods as well, resulting in a cascade effect that the consumer will surely pay for. End government.
Tax assets, not income. Let those who have profited from the corrupt system pay for the corrupt system.
My house is paid for, yet I need to pay taxes on it. Why should any other assets be different?
Furthermore, housing should be tax free like food and clothing. Stop taxing subsistence.
See, say the correct things and you get upvotes. Everyone should pay a fee for the service they wish to have, in an open and competitive marketplace of businesses and individuals. If a mechanism for collecting that fee is best served through a transaction cost on certain items, then so be it. Picking specific items and giving them superior standing is like saying that some people’s businesses or jobs are “essential” and some are not. The consumer should determine what goods and services are sustained in the marketplace, not politicians. ONLY by paying for things through direct, voluntary exchange, can that ever happen.
Votes, smotes…I speak my mind for better or worse. Eliminating income tax would make it easier for small businesses to hire people. A successful person who saves up and starts their own small business, hires people, and provides useful goods and services is the backbone of what America means. Large, corrupt corporations are the epitome of evil.
Are you a plumber in NC, from ZH comments section?
So two wrongs now make a right? I must have missed this change.
You should pay for the services you use and wish to have available in society. NOTHING MORE. The government taxes you home so that they do NOT have to send you a bill and be directly accountable for the specific services or costs of those services. STEALING en masse is far easier, and it allows them to screw people with more expensive homes and cars despite the fact that they likely use only as much and likely far fewer services than folks living in less expensive homes/cars. But that’s how you buy votes from the takers.
The premise of your suggestion (and great to see that everyone has downvoted you) is that “value” can be assessed to an asset without it being sold. IT CANNOT in any honest or legitimate way. The bullshit that goes on annually with regards to homes and cars is pure government manure. They first decide how much money they need, take the millage rate, and finagle the valuations of everyone’s homes until they get the money they want. It has no basis in reality. ONLY when someone else hands you the money for your asset do you honestly know what it is worth. Back in the day, that asshole Clinton was proposing taxing every empty bedroom in your home based on the fact that someone COULD be renting it out, so “implied” value. And sorry you haven’t profited over time. Sorry your house isn’t worth more than you paid. Sorry that the purchasing power of the dollar has likely fallen MORE than your assets have appreciated. Oh, you didn’t think of that now did you? Is your house actually worth $50,000 more, or has the $200,000 “value” now fallen to $150,000 in purchasing power? See the problem? And assets are rising in “value” without most people doing anything, or even supporting the bullshit that caused the theoretical rise. The goal of any society should not be to condemn folks for making profits, but to figure out how to create an economic climate in which everyone can (honestly of course….what’s going on now is lots of BS).
Why not…the Constitution is dead and stinkin…
Stop throwig rocks at Biden. Everybody knows that corporations take their taxes out of profits and don’t pass the taxes to consumers.
Satire is a beautiful thing.
Trump did complain about being surrounded by stupid people. Now they are in charge.
Vote with your dollars. Buy local and non-corporate.