Comments on: Why are America's largest corporations paying no tax? http://boingboing.net/2011/02/27/why-are-americas-lar.html Brain candy for Happy Mutants Wed, 19 Jun 2013 06:43:00 +0000 hourly 1 http://wordpress.org/?v=3.4.1 By: chroma http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1040640 chroma Wed, 30 Nov -0001 00:00:00 +0000 #comment-1040640 Apology accepted. Apology accepted.

]]> By: Cowicide http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1046785 Cowicide Wed, 30 Nov -0001 00:00:00 +0000 #comment-1046785 They thank Satan every day that there's so many corporatist apologist lackeys around like you. We don't NEED these big corporations. Small business provides the overwhelming majority of jobs in the USA. But, you probably didn't know that. The amount of money big corporations give to charity is overblown and they make sure of it by spending more on advertising the fact they give to charity than on the actual charities themselves. But, you probably didn't know that. Many charities in place would not be needed in the first place if we reined in the corporatists who pluck the wealth from the middle and lower classes. But, you probably didn't know that. I bet there's a lot you don't know, huh? They thank Satan every day that there’s so many corporatist apologist lackeys around like you.

We don’t NEED these big corporations. Small business provides the overwhelming majority of jobs in the USA. But, you probably didn’t know that.

The amount of money big corporations give to charity is overblown and they make sure of it by spending more on advertising the fact they give to charity than on the actual charities themselves. But, you probably didn’t know that.

Many charities in place would not be needed in the first place if we reined in the corporatists who pluck the wealth from the middle and lower classes. But, you probably didn’t know that.

I bet there’s a lot you don’t know, huh?

]]> By: mauzzz http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038602 mauzzz Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038602 Representation without taxation? Representation without taxation?

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1066765 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1066765 Anon, Are you an attorney for Bank of America or GE? You spin a web of lies. I can see straight through your BS, puppet-man. Corporations are considered "persons". Then they should be required to pay taxes like all other middle class "persons" of this nation. Can other middle class "persons" claim their income overseas and pay less taxes like corporations? And your rhetoric regarding higher corporate taxes being passed on consumers is utter nonsense. On damage control monitoring are we? No loophole will protect you from death. And you can't take it with you. Anon,

Are you an attorney for Bank of America or GE?

You spin a web of lies. I can see straight through your BS, puppet-man.

Corporations are considered “persons”. Then they should be required to pay taxes like all other middle class “persons” of this nation. Can other middle class “persons” claim their income overseas and pay less taxes like corporations?

And your rhetoric regarding higher corporate taxes being passed on consumers is utter nonsense.

On damage control monitoring are we?

No loophole will protect you from death. And you can’t take it with you.

]]> By: Cowicide http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038862 Cowicide Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038862 <blockquote>I'm curious, Cory. How much tax has Happy Mutants LLC paid over the past couple years?</blockquote> I'm curious, <b>chroma</b>, how much red herring do you emit from your pie-hole over the course of a few years?

I’m curious, Cory. How much tax has Happy Mutants LLC paid over the past couple years?

I’m curious, chroma, how much red herring do you emit from your pie-hole over the course of a few years?

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1039123 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1039123 Let me repeat: the taxes could either come out of the profits of the corporation or from the customers, in the form of higher prices. For the latter to happen, you have to assume the company has been charging lower prices than people will pay. What makes you think they are usually doing that? Let me repeat: the taxes could either come out of the profits of the corporation or from the customers, in the form of higher prices. For the latter to happen, you have to assume the company has been charging lower prices than people will pay. What makes you think they are usually doing that?

]]> By: Neural Kernel http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038612 Neural Kernel Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038612 "You do all realize that corporations are not living beings" Life has no universally accepted definition but if you accept the definition as including the ability to reproduce, the ability to react to stimuli, a need to consume energy and the production of waste... a Corporation is as much "alive" as you, me, a chicken or a tree. "life is a process which can be abstracted away from any particular medium" John von Neumann “You do all realize that corporations are not living beings”
Life has no universally accepted definition but if you accept the definition as including the ability to reproduce, the ability to react to stimuli, a need to consume energy and the production of waste… a Corporation is as much “alive” as you, me, a chicken or a tree. “life is a process which can be abstracted away from any particular medium” John von Neumann

]]> By: chroma http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1039129 chroma Wed, 30 Nov -0001 00:00:00 +0000 #comment-1039129 Nope. Just trying to figure out the original poster applies his personal experience to the topic of blog post. I mean, I'm not asking about his relationship with his spouse, personal hygiene, or what he had for breakfast. Just taxes. Now if you'll excuse me, I'm off to infringe on the free exercise of opinion elsewhere. (That's sarcasm, BTW.) Nope. Just trying to figure out the original poster applies his personal experience to the topic of blog post. I mean, I’m not asking about his relationship with his spouse, personal hygiene, or what he had for breakfast. Just taxes.

Now if you’ll excuse me, I’m off to infringe on the free exercise of opinion elsewhere. (That’s sarcasm, BTW.)

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1043998 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1043998 these corporations do the American people a huge service by providing family wage jobs to many as millions of people. They have to write things off such as loses and benefits they provide. Not to mention they give huge somes of money to charities instead of paying taxes. If these corporations were to "tighten their belts" that would result in loss of more family wage jobs and a greater slump in our economy. So in short Boeing, Microsoft, B of A, ect do more for us than a art school drop out. these corporations do the American people a huge service by providing family wage jobs to many as millions of people. They have to write things off such as loses and benefits they provide. Not to mention they give huge somes of money to charities instead of paying taxes. If these corporations were to “tighten their belts” that would result in loss of more family wage jobs and a greater slump in our economy. So in short Boeing, Microsoft, B of A, ect do more for us than a art school drop out.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1040163 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1040163 Well, that's because the Huffington Post wasn't launched until 2005, and before that she wasn't making a salary on her business loses, even if her assets were extensive (of which some, property for instance, she DID pay taxes on). Well, that’s because the Huffington Post wasn’t launched until 2005, and before that she wasn’t making a salary on her business loses, even if her assets were extensive (of which some, property for instance, she DID pay taxes on).

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038628 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038628 learn2libertarian-socialism. We can have socialism without a massive state bureaucracy. Unions, consumer groups, cooperatives, etc could be empowered and corporations and the state could both be reduced or even eliminated. learn2libertarian-socialism. We can have socialism without a massive state bureaucracy. Unions, consumer groups, cooperatives, etc could be empowered and corporations and the state could both be reduced or even eliminated.

]]> By: DarthVain http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1039141 DarthVain Wed, 30 Nov -0001 00:00:00 +0000 #comment-1039141 So BS. Maybe I should subtract all my expenses from my income, and only pay tax on what I as a person "Profit". That sounds fair to me. If I had to do that, I am pretty sure I would never "Profit" and as such, never ever pay taxes. So BS.

Maybe I should subtract all my expenses from my income, and only pay tax on what I as a person “Profit”. That sounds fair to me. If I had to do that, I am pretty sure I would never “Profit” and as such, never ever pay taxes.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038887 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038887 Snowrunner, this is anon #15. I appreciate the reasonable responses to my post. I'll admit that this particular issue gets me agitated because people so often think "business have to pay no tax!" and it's just such a dishonest argument because it's so much more complicated. Addressing some of your points: - My business does pay tax, sales tax, licensing tax and state income tax. And it does pay some small amount of fed. income tax. So it doesn't get government services for "free". - I will definitely concede that business could afford to pay a corporate *revenue* tax, but it would have to be extremely low because so many business have such slim margins. - I totally disagree with your "lazy argument" accusation. You can't say that "those businesses don't deserve to exist" if they can't remain viable, because what if the government chose a 20% tax on gross revenue, thus killing, say, 80% of businesses? Versus a 3% tax, only killing, say, 5% of businesses? Which ones were "legitimately" put out of business? I have NO faith in the government being able to set those taxes at the perfect rate. - And here's the kicker. Lots of people complain that corporations are treated better than individuals, that we can't deduct expenses or debt payments from our taxes. But the simple answer is that WE CAN TOO. All you have to do is declare yourself a "sole proprietor" and many expenses you have related to your work can be tax deductable. So when you say "why can't people do that too"? In the US, we can. So: The only difference in whether your expenses are taxed or not, is whether you are spending something for consumption or production. I think that it's a good thing that our tax code encourages production and discourages consumption. Snowrunner, this is anon #15. I appreciate the reasonable responses to my post. I’ll admit that this particular issue gets me agitated because people so often think “business have to pay no tax!” and it’s just such a dishonest argument because it’s so much more complicated.
Addressing some of your points:
- My business does pay tax, sales tax, licensing tax and state income tax. And it does pay some small amount of fed. income tax. So it doesn’t get government services for “free”.
- I will definitely concede that business could afford to pay a corporate *revenue* tax, but it would have to be extremely low because so many business have such slim margins.
- I totally disagree with your “lazy argument” accusation. You can’t say that “those businesses don’t deserve to exist” if they can’t remain viable, because what if the government chose a 20% tax on gross revenue, thus killing, say, 80% of businesses? Versus a 3% tax, only killing, say, 5% of businesses? Which ones were “legitimately” put out of business? I have NO faith in the government being able to set those taxes at the perfect rate.
- And here’s the kicker. Lots of people complain that corporations are treated better than individuals, that we can’t deduct expenses or debt payments from our taxes. But the simple answer is that WE CAN TOO. All you have to do is declare yourself a “sole proprietor” and many expenses you have related to your work can be tax deductable. So when you say “why can’t people do that too”? In the US, we can.
So: The only difference in whether your expenses are taxed or not, is whether you are spending something for consumption or production. I think that it’s a good thing that our tax code encourages production and discourages consumption.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1039916 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1039916 ok folks, economics 101. corporations do not pay taxes.. ever, they always pass on their taxes to the end consumer, which means you and me. eliminating all business taxes would encourage corporations to stay here instead of going to the caymans. then tax shareholder profits as ordinary income and restructure the progressive income tax so rich folks pay their fair share ok folks, economics 101. corporations do not pay taxes.. ever, they always pass on their taxes to the end consumer, which means you and me. eliminating all business taxes would encourage corporations to stay here instead of going to the caymans. then tax shareholder profits as ordinary income and restructure the progressive income tax so rich folks pay their fair share

]]> By: joeposts http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038637 joeposts Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038637 I'm with all the corporation-fans here. If we raise taxes on, say, Wal-Mart, to the level that the Mom-and-Pop General Store on Main Street pays, Wal-Mart would just raise prices on all their products, thus driving their customers away. This could provide a more level playing field for small businesses that don't pay their CEOs an annual salary that is more than 95% of us will make in a lifetime. There might be more competition, and this could hurt corporations and the people that depend on them for bulk purchases of Chinese-made goods. That would be atrocious. I’m with all the corporation-fans here. If we raise taxes on, say, Wal-Mart, to the level that the Mom-and-Pop General Store on Main Street pays, Wal-Mart would just raise prices on all their products, thus driving their customers away. This could provide a more level playing field for small businesses that don’t pay their CEOs an annual salary that is more than 95% of us will make in a lifetime. There might be more competition, and this could hurt corporations and the people that depend on them for bulk purchases of Chinese-made goods. That would be atrocious.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1042989 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1042989 You know it always kills me how a realistic problem become over shadowed by republicans & democrats static the problem is that some how for how every long its been the haves are riding the have nots like pack mules. The gap between the rich and poor is increasing and the middle class is decreasing. Being rewarded for things that is not going to benefit the American people is crazy, not investing in things that is going to keep us ahead of the game is ignorant, not preparing US for the changes that are coming will push us closer to third world statutes, and frankly the old way things are done need to be revised....wake up and see through the smoke screen you are becoming distracted by it. You know it always kills me how a realistic problem become over shadowed by republicans & democrats static the problem is that some how for how every long its been the haves are riding the have nots like pack mules. The gap between the rich and poor is increasing and the middle class is decreasing. Being rewarded for things that is not going to benefit the American people is crazy, not investing in things that is going to keep us ahead of the game is ignorant, not preparing US for the changes that are coming will push us closer to third world statutes, and frankly the old way things are done need to be revised….wake up and see through the smoke screen you are becoming distracted by it.

]]> By: mdh http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038383 mdh Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038383 I’m gonna tell you fascists You may be surprised The people in this world Are getting organized You’re bound to lose You fascists are bound to lose --Woody Guthrie I’m gonna tell you fascists
You may be surprised
The people in this world
Are getting organized
You’re bound to lose
You fascists are bound to lose
–Woody Guthrie

]]> By: Neon Tooth http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1039155 Neon Tooth Wed, 30 Nov -0001 00:00:00 +0000 #comment-1039155 Funny the coincidentally large number of "Anon" posters with neoliberal/libertarian views........hmmmmm...... Funny the coincidentally large number of “Anon” posters with neoliberal/libertarian views……..hmmmmm……

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038388 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038388 Wow, love the disingenuousness of this article. Why are they paying no tax? That's certainly a riddle isn't it. It's not like you include the answer in the 2nd paragraph (losses), but then phrase it as a question to try and make it seem an outrageous breach of tax codes, rather than an extremely normal business practise that has gone on for decades. Secondly, government is not "pay[ing] you for your losses". Not paying money to the government is not the same thing as the government paying you money. Its a difficult distinction to make, I know. This is what we're getting outraged about now? Not the actual hundreds of billions of dollars the government gave banks for TARP? But the fact businesses aren't paying taxes on losses, something that hasn't happened in the history of the nation? If "this art school drop out" didn't make any money for a whole year, then she'd pay no tax, just like the corporation. Wow, love the disingenuousness of this article.

Why are they paying no tax? That’s certainly a riddle isn’t it.

It’s not like you include the answer in the 2nd paragraph (losses), but then phrase it as a question to try and make it seem an outrageous breach of tax codes, rather than an extremely normal business practise that has gone on for decades.

Secondly, government is not “pay[ing] you for your losses”.

Not paying money to the government is not the same thing as the government paying you money. Its a difficult distinction to make, I know.

This is what we’re getting outraged about now? Not the actual hundreds of billions of dollars the government gave banks for TARP? But the fact businesses aren’t paying taxes on losses, something that hasn’t happened in the history of the nation?

If “this art school drop out” didn’t make any money for a whole year, then she’d pay no tax, just like the corporation.

]]> By: rebdav http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038390 rebdav Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038390 What a surprise, it is cheaper to pay a campaign contribution and own a senator or a dozen or even president than to get taxed. Why am I a libertarian not a socialist anymore? Because socialism creates a huge bureaucracy which the largest and richest businesses can use to effectively socialize any losses they make while keeping their profits. We need only enough regulation to keep business like the railroads and and Standard Oil from becoming supreme over us but not so much that they can turn the tables and make us slaves. I wish you had real powerful taxpayer unions and consumer unions rather than these weak political tastes the same but different coloring Republicrats that curse you in the US. What a surprise, it is cheaper to pay a campaign contribution and own a senator or a dozen or even president than to get taxed.
Why am I a libertarian not a socialist anymore?
Because socialism creates a huge bureaucracy which the largest and richest businesses can use to effectively socialize any losses they make while keeping their profits.
We need only enough regulation to keep business like the railroads and and Standard Oil from becoming supreme over us but not so much that they can turn the tables and make us slaves.
I wish you had real powerful taxpayer unions and consumer unions rather than these weak political tastes the same but different coloring Republicrats that curse you in the US.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1039158 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1039158 Enter the PR agent. Dude, you're not fooling anyone. Enter the PR agent. Dude, you’re not fooling anyone.

]]> By: wigg1es http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038391 wigg1es Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038391 Why? Republicans, that's why. Why? Republicans, that’s why.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038393 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038393 Well... a company would actually have to make a •profit• in order to pay a federal tax, right? But thank goodness they don't pay taxes. No corporation should. They'd only pass the cost of taxes to employee compensations, product prices, and stockholders (including your 401k and those union pensions). Even that art gallery shouldn't pay a dime of fed taxes. Well… a company would actually have to make a •profit• in order to pay a federal tax, right? But thank goodness they don’t pay taxes. No corporation should. They’d only pass the cost of taxes to employee compensations, product prices, and stockholders (including your 401k and those union pensions). Even that art gallery shouldn’t pay a dime of fed taxes.

]]> By: Neon Tooth http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1039162 Neon Tooth Wed, 30 Nov -0001 00:00:00 +0000 #comment-1039162 <i>Why am I a libertarian not a socialist anymore?</i> An attraction to extremes or fantasy? Most people would like something in between the dystopian nightmares of both hard extremes. What we don't want is the corporate, neo-fuedalism we have now. And this neo-feudalism is certainly more of a reflection of neoliberal ideas than socialist ones. Why am I a libertarian not a socialist anymore?

An attraction to extremes or fantasy? Most people would like something in between the dystopian nightmares of both hard extremes. What we don’t want is the corporate, neo-fuedalism we have now. And this neo-feudalism is certainly more of a reflection of neoliberal ideas than socialist ones.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038395 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038395 Personally, I think BOA sucks for lots of reasons, but not for avoiding (as opposed to evading) taxes. In 2007, they paid $6 bln in taxes. If you don't like the tax code (I don't) blame the legislature not the taxpayer. Personally, I think BOA sucks for lots of reasons, but not for avoiding (as opposed to evading) taxes. In 2007, they paid $6 bln in taxes. If you don’t like the tax code (I don’t) blame the legislature not the taxpayer.

]]> By: Nicky G http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038908 Nicky G Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038908 The play devil's advocate for a moment... Most of these "rich fat cats" will pay more in taxes, in one year, than you or I will over the course of our ENTIRE LIFETIMES. Which, come on, admit it, is at least a little ironic, given that the rich people have far less use for social welfare programs that really eat up a HUGE portion of our national budget (Social Security and Medicare/Medicaid.) Let's just grow up for a moment, shall we, and admit the obvious: We can blame rich people all we want for the ills of the world, and goodness knows they have caused their fair share of it. But the reality is, we are ALL responsible for the shit we're in as a nation, considering most of us, including the middle class, are addicted to social welfare programs AND a military that we CANNOT PAY FOR. It's not the rich people's fault that the majority of the populace is a bunch of hypocritical idiots. "Obama is a Socialist! Don't touch my [socialism]!" Give me a break. Maybe we should stop blaming the rich for our problems, and look inward a bit more than tends to be comfortable. Oh, and another thing to remember: Part of the thing that has traditionally made the USA one of the most dynamic economies in the world, is that we have a system that is forgiving of people who take chances. The vast, vast majority of corporations are small businesses. If someone has a novel idea that may or may not pan out, we do not punish the corporation via taxation, if it fails to turn a profit. We do, however, still tax the income of the people who OWN that corporation. This is, generally, a GOOD thing. If people felt like they would be "punished" by the tax code for starting companies that might not pan out, well, let's just say that our economy would not be #1 in the world. The play devil’s advocate for a moment…

Most of these “rich fat cats” will pay more in taxes, in one year, than you or I will over the course of our ENTIRE LIFETIMES. Which, come on, admit it, is at least a little ironic, given that the rich people have far less use for social welfare programs that really eat up a HUGE portion of our national budget (Social Security and Medicare/Medicaid.)

Let’s just grow up for a moment, shall we, and admit the obvious:

We can blame rich people all we want for the ills of the world, and goodness knows they have caused their fair share of it. But the reality is, we are ALL responsible for the shit we’re in as a nation, considering most of us, including the middle class, are addicted to social welfare programs AND a military that we CANNOT PAY FOR. It’s not the rich people’s fault that the majority of the populace is a bunch of hypocritical idiots. “Obama is a Socialist! Don’t touch my [socialism]!” Give me a break.

Maybe we should stop blaming the rich for our problems, and look inward a bit more than tends to be comfortable.

Oh, and another thing to remember: Part of the thing that has traditionally made the USA one of the most dynamic economies in the world, is that we have a system that is forgiving of people who take chances. The vast, vast majority of corporations are small businesses. If someone has a novel idea that may or may not pan out, we do not punish the corporation via taxation, if it fails to turn a profit. We do, however, still tax the income of the people who OWN that corporation. This is, generally, a GOOD thing. If people felt like they would be “punished” by the tax code for starting companies that might not pan out, well, let’s just say that our economy would not be #1 in the world.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038398 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038398 This will come as a shock to most readers here... the reality is corporations do NOT pay taxes. Even when they do. What is meant by that? Taxes are counted as a component of cost. In other words, corporations factor taxes in the cost of goods and services. So, when the populace screams to raise the corporate tax rate...there will be an equal and corresponding rise in the cost of the resultant good or service. Investors demand a certain rate of return on their capital. If it isn't being met, capital will be withdrawn. Therefore, corporations will make the adjustments to tax hikes almost immediately. Want to see inflation? Raise the tax rate on corporations. It might feel good to soak it to "evil corporations". But, corporations are just human creations in which humans also work. Lovingly signed, An old-timer-capitalist-pig-that-has-pulled-those-levers-and-turned-those-dials-of-that-corporate-machine This will come as a shock to most readers here… the reality is corporations do NOT pay taxes. Even when they do.

What is meant by that? Taxes are counted as a component of cost. In other words, corporations factor taxes in the cost of goods and services.

So, when the populace screams to raise the corporate tax rate…there will be an equal and corresponding rise in the cost of the resultant good or service.

Investors demand a certain rate of return on their capital. If it isn’t being met, capital will be withdrawn. Therefore, corporations will make the adjustments to tax hikes almost immediately. Want to see inflation? Raise the tax rate on corporations.

It might feel good to soak it to “evil corporations”. But, corporations are just human creations in which humans also work.

Lovingly signed,
An old-timer-capitalist-pig-that-has-pulled-those-levers-and-turned-those-dials-of-that-corporate-machine

]]> By: Mister44 http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038910 Mister44 Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038910 Assuming it's true, that is bullshit. I can't imagine the fancy accounting footwork that took. I hate BoA. My mortgage is with them. For now. Assuming it’s true, that is bullshit. I can’t imagine the fancy accounting footwork that took.

I hate BoA. My mortgage is with them. For now.

]]> By: rebdav http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1038400 rebdav Wed, 30 Nov -0001 00:00:00 +0000 #comment-1038400 Dick Cheneys second cousin President Obama ran on the Democrat ticket, took bank money, gave banks loans which they bought and actually profited from. A Democratic Congress and Senate was responsible for renewing these tax laws just as a Republican legislature would have. Dont buy the lie that the Democrats are here to help you, they only help the little guy on freebie stuff like gay rights not bread and butter cash issues where a vat grown clone of Dick Cheneys heart beats in their chest. I am curious how the US Army and Universities become top contributors to the presidential election campaign funds. Republicans often take the heat while the Democrats are just dirty in different areas. US politics truly are the failure Jefferson predicted, now the revolt will sadly be needed to feed the tree of liberty the blood of patriots and tyrants. I do not hold most other national systems to such a high standard as they never honestly claimed such lofty liberal republican goals. Dick Cheneys second cousin President Obama ran on the Democrat ticket, took bank money, gave banks loans which they bought and actually profited from. A Democratic Congress and Senate was responsible for renewing these tax laws just as a Republican legislature would have. Dont buy the lie that the Democrats are here to help you, they only help the little guy on freebie stuff like gay rights not bread and butter cash issues where a vat grown clone of Dick Cheneys heart beats in their chest.
I am curious how the US Army and Universities become top contributors to the presidential election campaign funds.
Republicans often take the heat while the Democrats are just dirty in different areas. US politics truly are the failure Jefferson predicted, now the revolt will sadly be needed to feed the tree of liberty the blood of patriots and tyrants.
I do not hold most other national systems to such a high standard as they never honestly claimed such lofty liberal republican goals.

]]> By: Anonymous http://boingboing.net/2011/02/27/why-are-americas-lar.html#comment-1039424 Anonymous Wed, 30 Nov -0001 00:00:00 +0000 #comment-1039424 Why are bank officers, board members and presidents paid millions plus bonuses if their banks lost money? How could BoA or Citi possibly lose money when millions more people like me are paying them 30% interest on loans than are falling into default? Why are bank officers, board members and presidents paid millions plus bonuses if their banks lost money? How could BoA or Citi possibly lose money when millions more people like me are paying them 30% interest on loans than are falling into default?

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