The services will work. Every other civilized country does them. It's the coupling with a tax cut that I find hard to believe.
Hi hedrick,
I would agree. However, I personally think that we should at least raise the corporate tax rate that President Trump slashed just to win favor. I don't understand crying about taxes that corporations pay. Corporations aren't people. The people that actually pay corporate taxes are the customers. So long as any taxes are fair and level across the board, then every business that is in the same business has to pay the same taxes and so there isn't any unfair advantage that one company can gain over another so far as taxes go.
All the evidence that I've seen so far regarding the latest round of corporate tax cuts is that the lion's share was used in ways that didn't dramatically improve the economy for the dramatic amount of tax revenue that we gave away. All evidence that I've seen also seems to show that the lion's share of personal tax reductions were for the, what I would certainly label, wealthy or at least the very comfortable.
I'm all for keeping taxes as low as possible, but it takes x number of dollars to run any government and the government must collect that revenue somewhere. They have tariffs available to them, but tariffs are also just a tax on the consumer. The consumer is the one who pays for the cost of any business to produce a product and deliver it to market. The price the consumer pays includes all those costs and so as long as all those costs are equal across the board, then I don't see how lowering corporate tax rates really does anything more than just cutting out a lot of needed revenue that needs to be made up somewhere else.
Now, we can cut some services and I'd start with the $50 billion more given to support the military. People work all their lives for the promise of Social Security and it just isn't fair to tell someone who's about to retire within the next 3-5 years that you're now going to change the contract with them as far as how much money they will get. Yes, we could cut some of the 'extras' that Social Security pays that may not really be something that Social Security should be involved in. Yes, we could cut some of the public welfare services, but is that really the wise choice? To cut corporate taxes so that you then have to take food and housing away from those who just haven't been able to attain the 'American dream'? Somehow I'd much rather a corporation pay an extra million or two in taxes than to cut someone who depends on public welfare by $500.
Businesses will make it. Businesses have been making it in this nation for decades and for every American manufacturer that has opened a plant in some other country, there is a foreign manufacturer who has facilities right here. Toyota, Honda, Yamaha, Mitsubishi, Canon, Citizen, Fujitsu, Hitachi, NEC and Nikon are all companies with headquarters in Japan that have a presence on a corporate scale in America. There are German companies with corporate scale operations in America. Bayer, Daimler, BASF, BMW, Siemens, Volkswagen, T-mobile and DHL holdings. This has been working pretty well for decades and now all of the sudden we're losing companies to foreign nations that are somehow costing us serious revenue while yet having the lowest unemployment in 50 years. How can those two truths possibly both be true? Sure, companies move and grow all the time. Some who are worldwide companies take advantage of better locations not just for taxes but also for delivery and market reasons.
I honestly don't think that President Trump has even a clue how corporate business works in the world today. The United States is not some island set off by itself in some far corner of the galaxy. We are a working and productive part of the many, many nations that make up the global economy.
That's my two cents worth.
God bless,
In Christ, ted