Tag Archives: trickle down

Millionaire’s Tax Rant

As many of you know, Facebook provides a fertile ground for political and economic debate. This one ended up pretty good, so I’m posting it here. You can read the full thread by reading the image at the bottom of this article.

Calvin Ben Lester: How can you be seriously for deficit reduction and give a trillion dollar tax break for the top 15% of the country? Vote no for unemployment benefits but yes for tax breaks for Millionaires? C’MON SON!

Calvin Ben Lester: So the Bush tax cuts have had what effect on the unemployment rolls exactly??? Can’t seriously attack defecit without dealing with revenues and expenditures.

click for larger image

Rex Moncrief: Thats funny – when you look at this graph and the fact that the tax cuts were enacted in ’01 and ’03, it looks like there was a downward trend. That’s really odd isn’t it?

It’s also funny how it sharply increased after spending started to jump and the economy fell through..but that’s another story.

Mollie Walton Corbett: Responsible wealthy business people know they should be taxed at a hgher rate and welcome it, people like Bill Gates. The trickle-down economics that would have us believe that tax-cuts for the wealthy translate to jobs for the lower classes make for interesting reading in a recession. The whole damn thing finally imploded, so more of the same old policies is irresponsible.

Bobby Lister: ‎@Rex, unless you hit a gold mine somewhere since the last time I saw you, you should be about in the same shape as the rest of the working class. I dont understand how you champion the Republican ideas such as extending the tax cuts for the wealthy and cutting unemployment, busting up healthcare, lowering the minimum wage, etc. Let me ask you this: You seem to like pretty little graphs and numbers; give me a comparison ( or point me to the right source) between what passing the tax cuts as they stand would cost taxpayers versus what passing tax cuts for just the middle class would cost? I think Mollie has a valid point. I will go even further by saying that wealthy Americans (15% of the population) are “Coporate America” who instead of creating jobs in the American labor force, opt to send the jobs overseas where they can get cheap labor and production costs and rake in huge profits.

Rex Moncrief: @Bobby – first don’t try to guess what “class” I’m in. You see, I don’t think of classes. I think of people who either (a) work or (b) don’t work. It’s that simple. I’d suggest you back off the class warfare crap. It’s a self-fulfilling prophesy and you are trying with all your might to keep the glass running over. Enough already.

@Everyone else:

First, NAFTA was signed by your hero, WJ Clinton. While a Congress of 1/2 idiots passed it, there were a lot of people that were definitely not 100% on board.

Next, there is a core difference in character and morals between those who believe “the rich” should give money to them. Yes, that’s right. If you believe the rich should give more money to the Federal government, then you have your hand stuck out to the nanny state waiting for someone to pass you the plate.

But here is the easy fix to all of this. Why don’t liberal progressives quit being hypocritical morons? If you want to help bring down the deficit by increasing revenues (taxes), then simply start a movement to donate to the government.

That’s right – all the “rich who are willing to pay more” are full of bullshit. They legally CAN pay more – they just WONT when it comes down to the nut-cutting. Neither will any of you who think along the same lines.

It’s called a “Gift to Reduce the Public Debt”. Don’t believe me? Try doing your homework and actually thinking something through the next time:

*Page 92
http://www.irs.gov/pub/irs-pdf/i1040gi.pdf

*Scroll to bottom page
http://www.treasurydirect.gov/govt/resources/faq/faq_publicdebt.htm

You see, when it comes down to it – you really want to keep your hard-earned income. You just won’t admit it to the like-minded fools around you, because that would cause less chaos. With less chaos would naturally come more order – and some people would have to work harder and beg less.

Any doubt how I feel when people try to tell me (with rhetorical bullshit) how to spend my hard earned money that feeds my family and helps my friends? Go straight to hell and don’t collect that $200 either.

FULL FACEBOOK THREAD:

Tax Increases on Corporations Help – Right?

I’m not sure why progressives don’t understand the concept that increasing expenses on corporations, whether they are large or small, results in the costs passed on the consumers. They somehow think that as companies have decreased expenses and thus increased margins, that all the money is passed on to the evil CEO’s. That’s just dead wrong and stupid.

Most important and often overlooked by idiotic progressives is the fact that when you increases the tax burden to business, it just get’s passed on to the consumers. That makes it a double whammy. Consumers pay normal taxes (income, sales, fees) plus the increased pricing on goods and services from the increased corporate tax burden. This adds to inflation which decreases spending power and further devalues the dollar.

When you listen to the drumbeat of the progressives, they are constantly calling for higher tax rates. The wealthy can afford it right? Big, evil corporations can afford it right? Just tax the corporations and watch the state coffers grow!

The warning – from executives at Microsoft, Hewlett-Packard (HP), Bank of America Merrill Lynch and Intel – spoke of the “damaging impact” on Ireland’s “ability to win and retain investment” should the country’s corporation tax rate be increased from 12.5pc.

Google issued its own statement. Considering the fact that Google employs about 2,000 people in Ireland, the government may want to pay attention. Damaging impact to the ability to win and retain investment? Yep.

You mean raising the expenses on companies means that they might turn to another location? Certainly – just take a look at the number of Fortune 500 companies who are incorporated in Delaware. Delaware offers many advantages, one of which is the exemption from Delaware corporate taxes if your business doesn’t conduct business in Delaware. Also, the filing and application fees are very low. So low that many other states are now trying to duplicate the pro-business environment of Delaware.

Granted, Delaware is a small state. However, it just goes to show you that businesses will generally look to decrease expenses and overhead whenever possible. That means looking elsewhere if necessary.

I can tell you that in my business as my expenses increase, the cost is passed on to my customers. If I am able to decrease expenses, then in many cases that results in savings to my customers. This trickles down (that evil term, right?) to the consumers of the products and services of my clients. Those consumers have more disposable income allowing them to purchase more, so on and so forth.

Is it really that hard to understand?

Number of Employees – Worldwide

Intel – 79,800
Microsoft – 88,414
Hewlett Packard – 304,000
Google – 23,331