Tax reform leads to economic development the corporate folks say. But think. When the government gets tax money it spends it. It doesn't disappear. On healthcare for the citizens, highways, research, etc. etc.
When tax reform gives more money to corporate America, it disappears. They put the money in offshore accounts where it just sits and earns interest for the rich. Compounding. The money is doing nothing for America or its people. It is all pretty simple really.
Of course, it is not quite that simple. But mostly it is true.
When tax reform gives more money to corporate America, it disappears. They put the money in offshore accounts where it just sits and earns interest for the rich. Compounding. The money is doing nothing for America or its people. It is all pretty simple really.
Of course, it is not quite that simple. But mostly it is true.
5 comments:
I think the corporate folks are tired of their tax money being wasted. Until government waste is eliminated, there will always be an argument. Not all corporations are greedy behemoths that park money in offshore accounts. I work for a small business that is a corporation that could create even more jobs and pay its workers higher wages if corporate taxes were not so high. Let's not even get started on the ACA. We have 100 employees and could really grow and create jobs in NM without all the shortsighted government regulation. Government hacks and career politicians that have never run a business in their lives are just as much to blame as the greedy mega corporations with the offshore accounts for the demise of this country. To say anything different is just wrong, and it really is not all that simple.
"According to Berkeley economist Gabriel Zucman, individuals in the US are avoiding $36 billion through offshore tax schemes and US corporations are avoiding more than $130 billion through these schemes.” (Bernie Sanders 11/13/17) http://www.cnn.com/2017/11/13/opinions/oligarchy-paradise-papers-bernie-sanders-opinion/index.html
See also International Consortium of Independent Journalists: "Paradise Papers: Secrets of the Global Elite" https://www.icij.org/investigations/paradise-papers/
Corporate folks only care about profits in this age in America. And define waste, please. Exactly what is it? I would say it is spending all of our wealth on Defense budgets while ignoring human budgets. Of course some money is wasted, just like in the Corporate world. But it isn't out of control.
I will say that I think there are way too many people with disability payments. It is a racket.
Instead of broad generalities, please identify a few of these shortsighted regulations?
Waste is providing people with so many handouts that there is zero incentive for them to get off their ass and work. Waste is the government spending three to five times more on a project because we have endless piles of compliance and the only people that can get the work know the way around the system so the government gets hosed. Waste is bailing out the banks. We could go on and on.
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