Originally posted by: BOBDN
Oh, and corps don't pay taxes.
I have been told that economics 101 tells us that everything goes to the bottom line. If these corps have to pay taxes they raise prices to offset the tax. So we pay the taxes.
However many of these corps don't pay taxes. They move offshore (a little loophole the Republicans refused to close this time around in their tax cut package) as well as use tax strategies that limit the corporate tax liability. They move jobs overseas. They do anything they can to avoid taxes.
So is the tax cut for the rich the same as a tax cut for the poor? These people don't pay taxes. Isn't this a handout?
Ok, you raise taxes on a 13" tv until it costs $10000 (adjusted by the company to cover its tax burdern), now who buys one? Ok, and what happens to the guys that made, shipped and sold tv's?
Corps are in business to make money, you tax the crap out them and they move. You are forgetting that they compete with companies from overseas that use the same countries with minimal cost labors that US corps move to. You could force them to stay, and they will prompty go out of business.
Time to join the information age, where the real money is. Unfortunatley for the US the center of technology is rapidly going towards India as IT (and customer service, btw) is being outsourced to India.