A gift from Laurie.
Guess Who Benefits From Republican Tax Cuts?And since it is from Laurie... I am betting I know the answer... Or at least what this source's answer is. :-)
I could pay $1,000 more in taxes if we repealed all the tax cuts.
16 comments:
ITEP Federal Tax Cuts in the Bush,
Obama, and Trump Years
Should I be suspicious since they do not mention the tax increases that were applied to the wealthy folks and not us normal people? (ie ACA, 2012 increase, etc)
I don't have the energy to look into it right now but it does seem suspect.
Rich people benefit from tax cuts. They are regressive.
--Hiram
"I don't have the energy to look into it right now but it does seem suspect."
Why?
And you never answered my questions from the other tax thread, like:
So, again, what are your criteria for determining if the tax cut is a good thing? Or, is it a good thing even if it doesn't produce any tangible benefits?
Hiram,
For your consideration, again... :-)
Snopes How Taxes Work
Sean,
I was tired and ready to crawl into bed... And now I have to work... But I will try to get back to the piece when time permits.
I think tax cuts are a good thing when they encourage people and companies to employ American workers. That is why I supported the Corporate Tax Rate reduction and was against all of the other cuts.
Just as I am against government spending that enables people to stay comfortable where they are. Continuous learning, effort and good choices are what makes humans happy and successful. And does wonderful things for our country.
I know how taxes work. I do my own. In particular, I know how to legally minimize the taxes I pay. These strategies don't involve ten guys at a bar.
--Hiram
"I think tax cuts are a good thing when they encourage people and companies to employ American workers. That is why I supported the Corporate Tax Rate reduction and was against all of the other cuts."
There's no evidence that these tax cuts are having that effect, though. Employment hasn't surged. Investment hasn't surged. Wages haven't surged.
Decisions to move plants to the USA take time to implement, especially when the silly President starts a trade war and raises uncertainty.
However if the USA is the biggest consumer, we have tariffs on imports, we have balanced regulations and lower taxes... Companies will move facilities closer to our consumers...
Just as my company will likely need to move some production over seas if counter tariffs hit us. The steel and aluminum tariffs already are hitting our costs hard. Since most of our product is heavy and made of steel and aluminum... :-(
So do you favor free trade or not? Your historical posts say yes, but now you've gone tribal and are backing tariffs.
My ideal situation would be Free Trade...
As long as American consumers made purchasing decisions that were consistent with their stated political position.
Folks who say they support:
- American workers and Unions
- environmentally friendly production
- companies that stay in America
should be actively working to spend their money in alignment with these views.
Unfortunately most American Consumers of all stripes really don't use those as part of their buying criteria. They are more worried about cost / value, features, quality, performance, reliability, etc.
Who loses their job, what river over seas is polluted, where the company is based, etc is VERY LOW on their buying criteria.
Maybe tariffs are the only way to make sensitive people put their money where their mouth is. :-)
Please remember that even our kind, caring and thoughtful Laurie bought a Prius because of the excellent value it provided her.
And it had / has almost 0 domestic content.
That was the equivalent of shipping at least one job over seas.
And according to this site Toyota is shipping 1,303,932 of them to the States each year.
Amazing isn't it?
And according to this site Toyota is shipping 1,303,932 of them to the States each year.
How nefarious of them. I have a trade deficit with Amazon. I am thinking of imposing a tariff on them.
--Hiram
It is not nefarious, it is capitalism.
The foreign workers are happy.
The foreign tax collections are good.
And the US customers are happy.
It is only the US workers who are unhappy and the US tax collections that suffer.
Kind of like when you use Amazon.
Amazon is happy
You are happy
It is only the local stores and their employees who are unhappy.
Now when Conservatives out source jobs by buying international or online products it seems consistent with their stated beliefs. (ie capitalism and free trade good)
However when Liberals out source jobs by buying international or online products it seems inconsistent with their stated beliefs. (ie wealth sharing and people need to support their local workers)
Maybe American car makers should make a car as good and successful as the Prius. But they didn't. That's not on the Union or anybody else assembling the cars. That's on the people who make the most money.
Moose
Moose,
As I said, you are now standing up for free trade and capitalism.
The idea that people and businesses should seek to obtain the highest value in all exchanges no matter who gets hurt by the transaction.
Now that is what Conservatives believe, however it does not seem to be your normal position.
What happened to people and businesses should pay more than they need to in the name of "fairness"?
What of the idea that investors and companies should keep high paying jobs in the US, even if it costs them extra money and may cause them to go bankrupt? (ie assuming prius customers avoid their domestic product)
By the way, for various reasons I own Chevy, Ford, Subaru and Honda vehicles right now. The Chevys, Subaru and Honda have been similar in reliability. The Fords have been the most reliable so far. :-)
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