Trickle-down is a scam, extending the Bush tax cut is wrong:

[75th]

I don't know the details on that, but I'll find out... I tend to think it's more to do with the amount of tax revenue taken in; not the tax rate on the individual. That would make sense, and supports the theory of lower taxes = higher tax revenue.

Charles

That doesnt make sense. There is a theory (that I pseudo subscribe to) that says that once tax rates are elevated beyond a certain level (45% or so) then there is no difference between revenue at the 45% level or anything higher (eg 75%).

 

[javaguru]

That doesnt make sense. There is a theory (that I pseudo subscribe to) that says that once tax rates are elevated beyond a certain level (45% or so) then there is no difference between revenue at the 45% level or anything higher (eg 75%).

You talking about the Laffer Curve?

 

[75th]

No, it was something else and the name just escapes me right now.

I was talking pretty extensively about it on another forum earlier in the year...I'll see if I can dig it up.

 

[Mr. dB]

wtf, I can't embed images cause I'm not plat? or am I just retreaded? Both?

You can imbed them all day, you just can't see them after you do it. Those of us who aren't Nonplat Scum can see them just fine.

 

[mrplunkey]

just for shits and giggles FL has TWO fortune 500 companies yet is what the 4th or 5th largest population? it has no income tax, and has the 2nd lowest corporate tax rate in the country. that is pathetic.

can you guess which states have the most fortune 500 companies? Cali and NY. can you guess what they rank as far as corporate tax rates? I'll give you a hint, its higher then what we pay in FL.

nobody likes taxes, I hate em. but taxes pay our military, roads, schools, etc etc. and we have the best of all 3 in the world. no one can debate that fact.

California has $159B in debt

New York has $120B in debt

I don't think you want to use either of those states in fiscal examples unless they are the butt of a joke.

 

[75th]

He wasnt using them as fiscal examples, I dont think.

And you and I both know that the problems in those states (California especially) have little to nothing to do with their corporate tax rate.

 

[mrplunkey]

He wasnt using them as fiscal examples, I dont think.

And you and I both know that the problems in those states (California especially) have little to nothing to do with their corporate tax rate.

That's a common misconception. It is linked to tax rate.

Both CA and NY slipped into the progressive mentality that everyone (except "the rich") deserves a hand-out and that we'll just tax more to make-up the difference.

That's diametrically opposed to the notion that you can get so much blood from a stone and that everyone must live within their means.

We may disagree on a number of issues, but I know you well enough to know you agree with this point.

 

[RottenWillow]

Maybe because the rest of the world was in ruins and we had a massively upscaled, 100% intact industrial base combined with millions of young, healthy, living males? I'm pretty sure those dead German and Russian men were not very productive.

We've been coasting every since.

Good lord yes. The U.S has been hemhorraging industrial jobs for a long time now.


And I venture to guess our ratio of imported to exported goods was a hell of a lot more favorable to us back then as well.

 

[mrplunkey]

Good lord yes. The U.S has been hemhorraging industrial jobs for a long time now.


And I venture to guess our ratio of imported to exported goods was a hell of a lot more favorable to us back then as well.

We used to run surpluses. Countries, just like companies, run much better when there is more cash coming in than going out. That's why I like tourism so much. It's people delivering their cash right to your doorstep.

 

[digimon7068]

just for shits and giggles FL has TWO fortune 500 companies yet is what the 4th or 5th largest population? it has no income tax, and has the 2nd lowest corporate tax rate in the country. that is pathetic.

can you guess which states have the most fortune 500 companies? Cali and NY. can you guess what they rank as far as corporate tax rates? I'll give you a hint, its higher then what we pay in FL.

nobody likes taxes, I hate em. but taxes pay our military, roads, schools, etc etc. and we have the best of all 3 in the world. no one can debate that fact.

virtually every fortune 500 company has nexus in all 50 states as well as numerous other countries...therefore, they generally have to apportion their income (and pay taxes) to every state (and many countries) in which they have nexus...where a company's home office is located is of little consequence...in fact, if they are a manufacturer (for example) and only their home office (corporate blokes) is located in cali or ny, they probably pay very little income tax in those states because the bulk of their income gets apportioned to the states where the manufacturing activities are taking place.

this concludes your $.25 tax awareness class...you're welcome