Elections

[Volvo Virgin]

What you are reading is a mischaracterizaton to make one think that they have tax relief because the government is charging corporations this tax. The corporations do not pay it they never have, the consumers of their products do. That is you and me, we are paying the corporate tax in addition to our own tax. Any increase of tax base placed upon a corporation has to be passed down in a price increase to the consumer as a higher priced goods. This means higher gasoline prices at the pump, higher prices at the WallyWorld, higher prices at the bells, whistles friendly neighborhood ice cream truck. Corporations do not pay taxes, people pay taxes. When a politician says he is going to raise the tax on corporations what he is telling you is that HE IS RAISING YOUR TAXES. You are being fleeced!

Prolly the first truly accurate thing you've said yet.Another perfect example of how big business gets their weenies stroked by the government.It's all twisted.This country needs immediate tax reform...and neither of the parties have a serious plan or real initiative to do that successfully.

[USMC850T]

Prolly the first truly accurate thing you've said yet.Another perfect example of how big business gets their weenies stroked by the government.It's all twisted.This country needs immediate tax reform...and neither of the parties have a serious plan or real initiative to do that successfully.

But the reason why that is true is not because of our current tax structure, it's just economics. CDB is almost always passed to the consumer in full.

[robert213]

What you are reading is a mischaracterizaton to make one think that they have tax relief because the government is charging corporations this tax. The corporations do not pay it they never have, the consumers of their products do. That is you and me, we are paying the corporate tax in addition to our own tax. Any increase of tax base placed upon a corporation has to be passed down in a price increase to the consumer as a higher priced goods. This means higher gasoline prices at the pump, higher prices at the WallyWorld, higher prices at the bells, whistles friendly neighborhood ice cream truck. Corporations do not pay taxes, people pay taxes. When a politician says he is going to raise the tax on corporations what he is telling you is that HE IS RAISING YOUR TAXES. You are being fleeced!

To say this another way...

Yes, Corporations actually pay all kinds of taxes to the local, state and federal governments -- property taxes, federal excise tax on each gallon of gas at the pump, and income tax on corporate earnings.

However, Corporations view taxes as a cost of doing business -- tax expense. All tax expenses are passed on to the consumer in the form as higher prices for goods and services.

Some tax expenses are direct costs and can be easily seen by the consumer.

For example:

Federal Excise Tax on Gasoline --------------------- 18.4 Cents/Gallon

(14 cents Trust Fund plus 4.4 cents General Fund)

California Use Tax on Gasonline -------------------- 18 Cents/Gallon

Total --------------------------------------------------- 36.4

Therefore, supposing that Exxon or Chevron (Texaco) sets their price for a gallon of gas at $2.00, the consumer pays $2.36. If the federal government passed a law to increase the Federal Excise Tax by 5 cents to 23.4 cents/gallon, then the consumer would immediately pay $2.41 the next day.

http://www.energy.ca.gov/gasoline/fuel_tax_rates.html

Some tax expenses are indirect costs and are more difficult to see by the consumer.

For example:

If the federal government passed a law to increase the rate of tax on corporate earnings, then the consumer would see delayed price increases -- as corporations periodically re-calculate their prices to adjust for this new increased tax expense.

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Related Thought:

Mininum Wage

Employee wages are a direct cost. When the minimum wage is raised to $7.25 an hour from $5.15 an hour, you will immediately see higher prices on everything from the price of a hamburger from McDonalds, the price of your favorite pair of jeans from Wal-mart, to the price of a tank of gas for your car.

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Another related thought:

Federal and State Unemployment Taxes have a ceiling of $7,000. Most Mininum Wage jobs are part-time and rarely reach this cap. Including FICA and Unemployment taxes, the real cost becomes something like $8.50 per hour

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Another related thought:

As corporations raise their prices to compensate for higher costs, it is magnified by increase in taxes collected from state sales tax.

==============================

Last related thought:

http://dictionary.laborlawtalk.com/minimum_wage

The effects of minimum wage laws, both positive and negative, may be increased by 'knock-on effects', with increased wages for workers already earning above the minimum wage. For example, some labor union contracts are based on a fixed percentage or dollar amount above the minimum wage. Certain public grants or taxes are based on a multiple of the minimum wage. (For example, a worker may have an exemption if his earnings are below 2.5 minimum wages.)

More info at:

http://isakson.senate.gov/floor/2006/062006wage.htm

Edited November 13, 2006 by robert213

[PyROTech]

i get annoyed when i hear comments like "those companies have so much money they shouldnt be making that much money" "its like only 1% more on your property tax and its basically only pennies more, are you saying you cant afford to spend a few more pennies?". Not to mention union tactics to extort money and hold hostage services which are fairly paid for.

[starfish]

Prolly the first truly accurate thing you've said yet.Another perfect example of how big business gets their weenies stroked by the government.It's all twisted.This country needs immediate tax reform...and neither of the parties have a serious plan or real initiative to do that successfully.

The Republicans have been beating the drum for tax reform for years, its called a flat tax. The socialist democrats oppose the flat tax since it weakens the redistributive wealth effect of progressive taxation in which they draw political power by dividing people on economic success.

[USMC850T]

i get annoyed when i hear comments like "those companies have so much money they shouldnt be making that much money" "its like only 1% more on your property tax and its basically only pennies more, are you saying you cant afford to spend a few more pennies?". Not to mention union tactics to extort money and hold hostage services which are fairly paid for.

It's a slippery slope argument. 1% this year, 1% next year...

[starfish]

You're the joke Bro.All your Economics major rhetoric doesn't make your nonsense any more true.

The truth is that most middle class retirees aren't living as you would try and suggest,and are struggling to make ends meet.Their pensions don't even come close in today's ecomony,but hopefully they were lucky enough to ride a real estate wave and squirrel some cash away from selling off the family home.I'm not sure what the view is like in Republican Fantasy-Land,but alot of the middle class doesn't live in your bubble.In my field over 12 years,I'm regularly exposed to many,many individuals and their financial portfolios,mostly middle class.For a large majority,primarily blue collar and working class white collar,their situations have worsened and their average debt ratios have radically climbed over the past 4-5 years.In most cases this isn't due to frivilous spending or unsound financial practices.Dramatically higher costs of living and no increase in wage/salary are the main factors.

It's selfish right-wing drones like yourself that scare me more than any tax-happy Democrat.Hopefully someday you'll be able to see things for what they are,and not just straight down partisan lines.

You have been suckered my friend. You and your fellow liberal friends voted for all those liberal democrat politicians so freakin corrupt that your state New Jersey, has turned its citizens into a practical third world society. The middle class in Jersey is kaput! Each of you liberal Jersey bastards are getting the pipe you deserve. It won't be long before you all will be living in a cardboard box's. How does it feel being a human ATM?

http://www.city-journal.org/html/16_2_new_jersey.html

Liberalism is a mental disorder.

[Volvo Virgin]

You have been suckered my friend. You and your fellow liberal friends voted for all those liberal democrat politicians so freakin corrupt that your state New Jersey, has turned its citizens into a practical third world society. The middle class in Jersey is kaput! Each of you liberal Jersey bastards are getting the pipe you deserve. It won't be long before you all will be living in a cardboard box's. How does it feel being a human ATM?

http://www.city-journal.org/html/16_2_new_jersey.html

Liberalism is a mental disorder.

New Jersey=the wealthiest state in the union with the highest budget debt and deficit in the union.But if you want to blame that solely on the Democrats you're even more mislead than I thought you were.Each of the parties holds more than their share of the blame for what's happened here.Corrupt government at it's finest.

If you could read as articulately as you write,you'd see that I don't align myself solely with either of the pathetic excuses for political parties,so your liberalism slander falls on deaf ears here.I vote based on the candidiate,but unfortunately I don't always have much of a selection.This country won't have any true democracy again until we can get some more viable parties involved in the election process,and some kind of accountability with regards to actually remotely attempting to fulfill campaign promises.

It's you that's been suckered.Brainwashed into believing all will be fine if you vote Republican blindly in every election without any other consideration.I feel sorry for you.

Edited November 15, 2006 by Volvo Virgin

[ArmyINFDoc]

Can't wait til oh eight.

Thats the run of my political experience

[TG850T5R]

People just flushed the toilets both in the senate and the house..... We will flush it again all the way in 2 years to clean them all the way up :-).....

[starfish]

-1. I hated Carter and he was a horrible president. The Dow Jones is a reflection of the profit of some corporations, not of the nation as a whole buddy.

~Mike

It's an indicator of investment, which is an indication of the national economy as a whole.

As much as I'd agree with you on premise,the average middle class American isn't the one subsidizing his income and making big $$$ investing.

And I have one word to explain why the Dow is where it is....401k.....and similar mutual funds..And most of these are being invested by investment groups on behalf of corporations that have scrapped pensions in luei of a 401k type retirement.Many of these are Fortune 500 companies that screwed the older employee out of their pensions with the laughable goverment funded pension program(another bone thrown to big business)that gives the employee pennies on the dollar for his hard earned pension monies.The rest of the employess won't see this 401k money until they are 63 or better,and it's all just pie in the sky until then.Except that it keeps over-valuing the Dow.

So far in the past 6 months since you said this, the Dow has gone up another THOUSAND POINTS to hit a record high 13000 !!! Nice call shorty! :lol: