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Tax Bill

LadySkinsFan

By LadySkinsFan
in The Tailgate

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PeterMP

PeterMP

Posted
Posted (edited)
2 hours ago, MartinC said:

 

The conclusion of lots and lots of research on this question is there isn't.

 

From what I've learned of economics, I've decided that unless somebody is doing something very odd (burning it, hiding it under a mattress, etc.) or illegal, what the most effective and efficient way to spend money with respect to the economy is not a simple thing to determine and therefore simplistic ideas of well if we give more money to X, they'll do Y and that will help the economy are almost always at best incomplete.  By default, you've taken money from some other entity that was doing something else with that money.

 

(And I'll point out in terms of people just "hiding" cash away, corporations are pretty big offenders.)

 

There is value in having people/things that can invest money and use it to hire people, but there is also a clear advantage to having people spend money.  Given the multitudes of ways that people will spend and/or invest money and how that then effects different segments of the economy and population, it is very hard to say which is best over all for the total of the economy (and partly that will depend on what you value as a good metric of a well performing economy).

 

The other point I want to make here is that I think that just talking about the corporate tax rate is incomplete.  There are several other things that have leaned towards corporation that have benefited them (and I think benefit them more in the US than other countries).  These include copy right laws (lengths of copy rights have been extended), patent laws, and legal protections from lawsuits (the rise of binding arbitration and the Supreme Court decision that such things are Constitutional and can prevent people from suing corporations) and things like corporate vs. personal bankruptcy laws.

 

I'd trade a cut in the corporate tax rate for the removal of binding arbitration language as being part of contracts between individuals and corporations except for in very special situations and taking the copy right limits back to what they were before the recent increase.

 

From a larger economic stand point, I suspect the US is very friendly with respect to corporations as compared to other economically comparable countries.

Edited by PeterMP
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MartinC

MartinC

Posted
Posted
2 hours ago, PeterMP said:

 

From a larger economic stand point, I suspect the US is very friendly with respect to corporations as compared to other economically comparable countries.

 

Not just this but when you factor in all the allowances and deductions provided to business US corporate tax rates are pretty consistent with other large developed economies and certainly not the highest in the world.

 

http://www.npr.org/2017/08/07/541797699/fact-check-does-the-u-s-have-the-highest-corporate-tax-rate-in-the-world

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gbear

gbear

Posted
Posted

What I see little press about is the impact of losing medical costs deductions. The republican party has already tried to crush the sick by getting rid of individual mandate which will mean the healthy will drop out of market until they need it. Now the republican party wants to remove the deduction for money spent on healthcare. Of course the kicker came this afternoon as trump said the removal of the individual mandate should be added to the tax bill. It is as if the republican party is determined to drive the chronically ill to the poor house...and then charge them money they don't have for the ride.  Of course they will claim the money charged for the ride will offset the tax cuts on corporations and the rich. The last is tongue and cheek. I wish my hole post was.

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Larry

Larry

Posted
Posted
1 hour ago, gbear said:

What I see little press about is the impact of losing medical costs deductions. The republican party has already tried to crush the sick by getting rid of individual mandate which will mean the healthy will drop out of market until they need it. Now the republican party wants to remove the deduction for money spent on healthcare. Of course the kicker came this afternoon as trump said the removal of the individual mandate should be added to the tax bill. It is as if the republican party is determined to drive the chronically ill to the poor house...and then charge them money they don't have for the ride.  Of course they will claim the money charged for the ride will offset the tax cuts on corporations and the rich. The last is tongue and cheek. I wish my hole post was.

 

Hey, why let the hospital/nursing home get all of Grandpa's money, in his final years?  

 

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Cooked Crack

Cooked Crack

Posted
Posted (edited)
10 minutes ago, nonniey said:

I'm sure however they are revised will lead to supporters or opponents screaming about pressure on the Center depending on what the new result is.

Quote

Someone familiar with the error who was not authorized to speak publicly said the revised report would likely come to a similar conclusion overall, but that exact numbers of how many Americans are helped and hurt would be different.

Probably the only people who will bring up this error are Congressional Republicans.

Edited by Cooked Crack
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