Question for JPP economic heavyweights

[Teflon Don]

I hear much criticism about Trumps proposed tariffs on foreign imports. I’ve been hearing constant political ads about how they will raise prices for “working Americans”

Yet, part of Harris’ economic agenda is to increase corporate taxes to “make them pay their fair share”.

So tell me what is the difference between tariffs and increased corporate taxes when we know tha5 corporations will just pass those taxes off to consumers in the form of higher prices

 

[Hawkeye10]

Tariffs protect shit quality domestic producers, which is bad for us.

The problem is that America is now the Cant Do Nation.

We can not compete.

 

[Hawkeye10]

We used to be better.

Buckle Up.

 

[Teflon Don]

Tariffs protect shit quality domestic producers, which is bad for us.

The problem is that America is now the Cant Do Nation.

We can not compete.

So you prefer shit quality foreign products and unemployed Americans?

 

[Hawkeye10]

So you prefer shit quality foreign products and unemployed Americans?

Failure to perform is painful in this particular universe....this has nothing to do with me.

 

[Yakuda]

I hear much criticism about Trumps proposed tariffs on foreign imports. I’ve been hearing constant political ads about how they will raise prices for “working Americans”

Yet, part of Harris’ economic agenda is to increase corporate taxes to “make them pay their fair share”.

So tell me what is the difference between tariffs and increased corporate taxes when we know tha5 corporations will just pass those taxes off to consumers in the form of higher prices

Don't make the mistake of thinking the leftist monkeys do any of this for the economy. Making corporations "pay their fair share" is the leftist dogs whistle signaling the base that they want extort more money from businesses to pay for the goodies they want to give to illegals that they hope will vote democrat. The left doesn't care that increasing taxes will raise prices and/or destroy businesses they only want the money.

The left is doing today with illegals what they did with black Americans in the 60s with civil rights legislation. They are looking to build another monolith voting block for themselves but this time with illegals.

 

[Hawkeye10]

Don't make the mistake of thinking the leftist monkeys do any of this for the economy. Making corporations "pay their fair share" is the leftist dogs whistle signaling the base that they want extort more money from businesses to pay for the goodies they want to give to illegals that they hope will vote democrat. The left doesn't care that increasing taxes will raise prices and/or destroy businesses they only want the money.

The left is doing today with illegals what they did with black Americans in the 60s with civil rights legislation. They are looking to build another monolith voting block for themselves but this time with illegals.

Conservatives have failed and failed all the way....just look at where we are.

 

[Yakuda]

Conservatives have failed and failed all the way....just look at where we are.

I agree. They have decided it's better to be popular than to do the right thing

 

[Althea]

I hear much criticism about Trumps proposed tariffs on foreign imports. I’ve been hearing constant political ads about how they will raise prices for “working Americans”

Yet, part of Harris’ economic agenda is to increase corporate taxes to “make them pay their fair share”.

So tell me what is the difference between tariffs and increased corporate taxes when we know tha5 corporations will just pass those taxes off to consumers in the form of higher prices

Because you really don't understand the topic, I'll type slowly.

Taxes are paid on PROFITS. You don't 'pass taxes' off to anyone. Right now most corporations are paying an effective tax rate of 10% or less.

Now...trump had chance to bring jobs back to the U.S. but just opted to give all corporations a tax holiday.

What if corporations who do all of their manufacturing in the U.S paid no taxes, and those who didn't pay higher taxes?

Does that give you a tingle in your panties?

 

[Damocles]

I hear much criticism about Trumps proposed tariffs on foreign imports. I’ve been hearing constant political ads about how they will raise prices for “working Americans”

Yet, part of Harris’ economic agenda is to increase corporate taxes to “make them pay their fair share”.

So tell me what is the difference between tariffs and increased corporate taxes when we know tha5 corporations will just pass those taxes off to consumers in the form of higher prices

Corporate taxes are simply a cost of production and always pass through to the consumer. It is inflationary in price, a hidden sales tax, and effects the lower and middle class disproportionately.

Tariffs are not always a cost of production to every business like taxing corporations is. Tariffs, when used properly, can be used effectively to reduce unfair trade practices, such as CCP subsidizing steel to lower its cost substantially so that no profit can be made by anyone. The consequences of that are businesses closing in the U.S.A. then CCP dropping the subsidy and the cost returns to the consumer, the profit however then goes to the CCP controlled business.

 

[Jarod]

I hear much criticism about Trumps proposed tariffs on foreign imports. I’ve been hearing constant political ads about how they will raise prices for “working Americans”

Yet, part of Harris’ economic agenda is to increase corporate taxes to “make them pay their fair share”.

So tell me what is the difference between tariffs and increased corporate taxes when we know tha5 corporations will just pass those taxes off to consumers in the form of higher prices

Both would raise prices, neither one for one, but taxes on Americans corporations would promote a more level playing field for new more innovative corporations to enter the marketplace and result in a stronger nation.

When states/cities/the fed have raised gas taxes they never go up one for one, the prices are already inflated by the Corporation to get as much as people will pay, so often the Corporation does not pass it all to the consumer. This would be true of tariffs also, but trump is lying when he says it wont affect prices.

 

[Jarod]

Corporate taxes are simply a cost of production and always pass through to the consumer. It is inflationary in price, a hidden sales tax, and effects the lower and middle class disproportionately.

Not always. Corporations often have inflated prices to a point their economists have figured will make them the most profit, so in that case, an increase in 'cost of production' does not automatically result in a 1 for 1 cost increase, sometime no increase, just a little less profit for the corporation.

 

[Earl]

Fairness in taxation should not be based on wealth or poverty when considering an increase or decrease in taxation.

Millions of Americans pay no taxes.

Everyone should have skin in the game. A national sales tax would be the fairest alternative. Everyone consumes and the more you consume, the more tax you pay. Of course because it is a fair tax, it won’t be implemented.

 

[Jarod]

Fairness in taxation should not be based on wealth or poverty when considering an increase or decrease in taxation.

Millions of Americans pay no taxes.

Everyone should have skin in the game. A national sales tax would be fairest alternative. Everyone consumes and the more you consume, the more tax you pay. Of course because it is a fair tax, it won’t be implemented

Billionaires pay a MUCH smaller percent of their wealth than middle class Americans.

 

[Damocles]

Not always. Corporations often have inflated prices to a point their economists have figured will make them the most profit, so in that case, an increase in 'cost of production' does not automatically result in a 1 for 1 cost increase, sometime no increase, just a little less profit for the corporation.

Folks say "not always" but yes, always. While some costs can be absorbed for a time, in the end the consumer pays for it regardless. While some competitors may choose to absorb the cost to try to gain customers, it is the same as simply lowering the price... some folks do that too.

The folks who use this to pretend that tax on corporations is not a cost of production amuse me. If the corporation was "so greedy" that the cost of taxation does not lower profits, they are still more likely to use the tax increase to raise prices... you know, due to their greed.

If you want businesses to lower prices, you need to encourage competition, not pretend they've lowered prices when you taxed away some of their profit.

 

[Earl]

Billionaires pay a MUCH smaller percent of their wealth than middle class Americans.

So, go to a national sales tax. The more you consume, the more tax you pay.

 

[Yakuda]

Because you really don't understand the topic, I'll type slowly.

Taxes are paid on PROFITS. You don't 'pass taxes' off to anyone. Right now most corporations are paying an effective tax rate of 10% or less.

Now...trump had chance to bring jobs back to the U.S. but just opted to give all corporations a tax holiday.

What if corporations who do all of their manufacturing in the U.S paid no taxes, and those who didn't pay higher taxes?

Does that give you a tingle in your panties?

You're stupid aren't you?

 

[Jarod]

Folks say "not always" but yes, always. While some costs can be absorbed for a time, in the end the consumer pays for it regardless. While some competitors may choose to absorb the cost to try to gain customers, it is the same as simply lowering the price... some folks do that too.

The folks who use this to pretend that tax on corporations is not a cost of production amuse me. If the corporation was "so greedy" that the cost of taxation does not lower profits, they are still more likely to use the tax increase to raise prices... you know, due to their greed.

If you want businesses to lower prices, you need to encourage competition, not pretend they've lowered prices when you taxed away some of their profit.

Ya, so not always.

Its clear, gas prices do not go up penny for penny when they are imposed, almost never.

American "capitalism" is not based on 100% on supply and demand, its based more on what the consumer will tolerate from a large corporation that has dominated the market, thus has very little competition, for decades.

The large Americans corporations have learned to beat such market demands by colluding with the "competition" to create the most profit for all.

Corporations working together against the consumer defeats the cost lowering affect of competition.

 

[Yakuda]

So, go to a national sales tax. The more you consume, the more tax you pay.

Exactly! They dont want that because it's not about economics with them. For leftists taxes are a punishment they want to impose so they can buy votes.

 

[Earl]

Billionaires pay a MUCH smaller percent of their wealth than middle class Americans.

Taxation is not based on wealth, which is accumulated. It’s based on current income.

Whatever billionaires pay, it’s due to tax laws by Congress.