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€uromeinke, FEJ. and Ghoulish Delight RULE!!! NA abides. |
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#1 |
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Big Corporations don't pay taxes. If big corporations are hit with a tax increase, it is simply passed along to the consumer.
Visibile mojo to Kevy. When the top 10% of the population pay 80% of the taxes (or whatever it is exactly), of course that's where the tax reductions go. |
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#2 |
I Floop the Pig
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Only goods with perfectly inelastic demand curves is this true.
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#3 | |
Chowder Head
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And the funny thing about "Big Corporations" is that a good majority of the spoils goes to the common man. Most of the largest shareholders in large companies are mutual funds where you and I and other regular people have at least some of their retirement finds in. When Exxon/Mobile makes an "obscene" amount of money, that means that Joe Blow's pension just improved. Also, Big Corporations typically employee a shytload of everyday people. Last I head, being employed is a good thing.
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#4 | |
I Floop the Pig
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Quote:
reference
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#5 | |
Chowder Head
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Also, the passing on may not be direct either. Big Company A gets hit with a 10% increase in their taxes which results in a 2% overall increase in bottom line costs (I am using hypothetical numbers here). They may only be able to pass on 1% (half the additional burden) on to consumers. Then they extract another .5% from their vendors who must then tighten their belts in the form of layoffs or other such economic impact, another .25% in the form of internal layoffs, and the last .25% in the form of lower dividends to their institutional stockholders (read: your and my retirement funds). There you have it: all 2% of the increased tax burden passed on to the consumer.
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#6 |
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If I recall correctly, it was a lower number than 10% that payed 80%. I gotta look it up again.
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#7 |
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Nope. The top 1% pays about 35% of taxes. The same top 1% owns about 35% of the wealth. Seems about right to me.
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#8 | |
Chowder Head
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Also, "The top 1% pays about 35% of taxes" does not preclude my (trying to remember) numbers. It is just a smaller sampling from a larger subset.
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#9 | ||
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#10 | |
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