The List of Companies Paying No Taxes Might Increase Under Biden’s Tax Plan
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15 Comments
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2 years ago
Companies simply increase their prices for products. For the first time since the 1970s, when companies, for example, have been nimbly trying to scale up. I suppose, in fact, that it will not become persistent. If Biden and the Democrats were sensible, they would pursue shareholders more directly in their own corporate tax laws. Shareholders have all the chances to obviously raise the value on promotions without thinking about the benefits and P / E, as we have seen in the direction of the last few years, due to the fact that they are simply borrowing at lower rates. As a consequence, the class of shareholders and traders is where the funds are.
Nevertheless, when I visit my <a href=”link to irs-offices.com“>IRS office</a> , I try to pay tax regularly, unlike these corporations!
2 years ago
Trumps Fault. It is also Trumps fault we will have more than 2 million new illegals on welfare, food stamps, sec 8’s, free HC ect. How many of those two million will be in our prisons in a year or two? Liberals are all mentally ill.
2 years ago
“The List of Companies Paying No Taxes Might Increase Under Biden’s Tax Plan”
Yeah, and that is why the DONORcrat Party leaders are called socialists, right?! Rriiiiiiiiiight! LOL
2 years ago
The irony in all of this is corporations don’t pay tax in the first place. Consumers do via higher prices.
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That makes a huge assumption that corporations simply raise prices to pay for stuff. But those that still work at corporations know better. Price increases can be passed along but this is the first time since the 1970s corporations are trying on a large scale so quickly. I predict it won’t be sustainable. There is another place corporations could get money from to pay for tax increases — shareholder earnings. If Biden and Democrats were smart, they would go after the shareholder class more specifically in their corporate tax laws. Shareholders can clearly drive up share prices with no thought of earnings and P/E as we’ve seen over the last several years because they simply borrow at lower rates. So the shareholder and investor class is where the money is at.
2 years ago
Yes to that. And also raise the corporate taxes and use the antitrust laws to break the companies out of the monopolistic world they thrive in. Let’s see how much they can increase their prices then!
But that’s a dream right now. We have two right-wing parties ruling the roost in the US. So it won’t happen, at least in the foreseeable future.
2 years ago
They aren’t right wing. There is only one party in America when it comes to business. They dont care who’s in charge and play one off the other. The corporation as a human ruling was the end of America in my view. Now we have a supreme court that favors corporations in all rulings. The merger or government and corporation is facism.
2 years ago
Well, both parties are neoliberal – favoring policies that promote “free-market” capitalism, tax cuts, privatization, deregulation, and reduction in government spending. Of course, the reduction in government spending is done only with respect to social safety net and support programs. Never ever with spending on wars, subsidies for big corporations etc.
2 years ago
And actually this is why Elizabeth Warren should run again in 2024. She was the only candidate that wanted to break up big corporations violating antitrust.
2 years ago
US debt service costs are higher than WW2 at one point five percent rates.
what will happen when Fed raises rates?
link to fred.stlouisfed.org
2 years ago
They wont and they will monetize the interest in the debt so the debt can grow forever.
2 years ago
What would be the pros and cons of zero income tax for individuals, and higher corporate taxes? It would certainly increase the IRS agent to tax paying filer ratio, which means more audits of greater incomes. It would gut all the earned income credits and child credits. For most people, they would not need to fill out a Federal income tax return. Mortgage interest would no longer be deductible. Consumer prices would have to increase to offset higher corporate taxes, unless the sales tax rate increased. Higher asset prices would shore up existing collateral of risky bonds. Companies would probably try to relocate outside the US, but an extremely high import tax on finished goods and services could prevent companies from leaving. Companies would pay ALL employees with cash, which would eliminate stocks options for executives.
I’m sure I missed some things in my rambling.
2 years ago
You are ignoring the real world. The 28% maximum personal income tax bracket was only in force for a few years and then Congress started to tamper with it. A super high corporate income tax rate would encourage US companies to transfer more of their operations abroad and to merge into foreign based companies.
The US is the only significant country in the world (1) without a Value Added Tax and (2) which tries to tax its citizens who are living abroad. Back around 1950, France was the first major country to realize that it could not set income tax rates high enough to raise the revenue it needed to fund government programs. It came up with the the turnover tax (a sales tax at each level of production) and then a few years later modified it into the VAT used in most of the world today.
The US may still look attractive to migrants from Third World countries but much less so to people in other industrial countries where there is less emphasis on military spending and more emphasis on programs that benefit average citizens.
2 years ago
“The List of Companies Paying No Taxes Might Increase Under Biden’s Tax Plan”
…
yeah, well … with officials – elected and unelected – profiting massively with impunity (on inside) trading … I kind of doubt there will be any sort of move that will hurt corporations’ bottom line.
2 years ago
“If the tax breaks for clean energy go in as expected, then expect a plethora of companies to suddenly do activities that make them look clean.
This, at least, is actionable as an investor. And fully expected.
2 years ago
Same old thing. So many in this comments section like to parrot the typical MSM narrative that the Republicans are uniquely the uber-capitalist pro corporate elite party when the reality is that it’s just a game of good cop/bad cop where who’s ‘good’ or ‘bad’ depends on your personal social/political proclivities. Unfortunately, the one getting interrogated (the middle class and small/medium sized businesses) gets the whammy regardless.