Who REALLY loves the 1 percent?

[ProdigalHorn]

WSJ: Exhibit A in why tax hikes kill small businesses and avoid hitting the big boysIn reply to:

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[Leftwith]

Why don't liberals ever learn from their mistakes?

 

[Bevo Incognito]

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[general35]

the united states started losing its status economically about the time it started implementing a high corporate tax rate. according to a recent analysis by KPMG, the united states has the 4th highest corporate tax rate in the world for industrialized nations. you should see the parties these big accounting firms are throwing today. it is boom time business for them, companies are spending millions to save more millions in taxes because of the rates. the high taxes have pushed global companies outside our borders for cheaper workers to keep those profits rising for investors. once a company decides to make a move overseas to open a plant, etc., those jobs are gone for good. its why when you see periodic lowering of the tax rate, you may not see high statistical differences in job growth because those jobs are already gone and held by someone else. i can name a dozen people who have started new businesses requiring a labor work force and they all opened their plants in central and south america.

These jobs politicians keep calling for the lower middle and lower class do not exist anymore, not enough anyway. The only ones that were available recently were construction jobs and when that tanked on a national level, so did the jobs. Government has done its part to get rid of them here. They have helped there own, however, by increasing its own workforce and doubling their salaries. All we have left here is a consumer driven economy with energy, computers/tech, medical, financial, government and legal industry workers being the most profitable and well off. If you are not part of the new global economy, you are left out. You hear astronomical figures of profits these global companies are bringing in but its because they are global industries and they are taking part in deals on a global basis. Half of our country is filled with unskilled workers...half...what are corporations supposed to do, hire extra people to take out the trash?...there is only so much trash to take out. Our public school system is archaic and has created a generation or 2 worth of people completely unable to make it in todays world. There are jobs are available. Unfortunately, they are being filled by europeans and asians. its too bad but it isnt going to be corrected overnight and it will never be corrected with the midset of our political class and their cronies and this includes both parties.

 

[Bevo Incognito]

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[Lake_Travis_Horn]

The problem with corporate taxes is the same as with personal taxes, but amplified. The rates are too high and there are too many exemptions. The beneficiaries of the current tax system are those with enough influence to get exemptions that benefit them passed and those who must be influenced to get the tax breaks.

It's ironic that Democrats, who put themselves forward as the champions of the little guy are the primary protectors of the status quo. If you want the little guy to benefit, eliminate exemptions and reduce the rates. You'll see the actually taxes paid by the 1% go up and the money in politics go down. Both would be good things, very good things.