We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
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Wednesday, March 4. 2009
US companies pay the highest taxes in the world. I have never understood why businesses are taxed at all. All it does is to make prices of things more expensive for consumers because a tax is just another expense to be passed along. In other words, biz taxes are just a covert tax on consumers and investors.
Equity Analyst in Chief. Embarassing
Did you know that To Kill a Mockingbird was a racist book?
Map of the EU economic crisis
Cooler heads at NOAA changing their tune on climate
Dr. Clouthier is fed up with unmanly men and other PC baloney
How Obama ambushed and used the head of Caterpillar
Budget rant by Ace
Isn't the WH getting a bit petty and vindictive? They attack Rush for a week. Now it's Jim Cramer. Must be a deliberate diversionary tactic.
Rick Lowry quoted at Betsy:
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You have over-simplified the affect of corporate taxes. If all corporations were taxed the same, it would be a simple pass-through to consumers. When a corporation based in the U.S. (taxed at 40%) is competing against an Irish company (taxed at 12.5%) and a Swedish firm (24%), it is the shareholders and employees who feel it. Wise investors will simply seek more lucrative investments such as bonds or foriegn companies.
Ultimately it leads to U.S. firms investing abroad and perhaps moving the corporation overseas. The Democrats (many of whom have offshore trusts) will call it unpatriotic. Business managers, however, are paid to maximize shareholder return so the move offshore will only accelerate.
Read the Cramer article, watch the video's. Then read all the comments. Very informative, and funny.
I AM YELLING, CAN ANYONE HEAR ME! DAMN COLD IN COWHAMPSHIRE 0 THIS MORNING. LUTHER, YOUR HOGGING ALL THE WARMTH. CAN YOU HEAR ME?
NEVER KNEW THAT CAPS LOCK SIGNIFIED YELLING.
BOY AM I UMDAY.
I hear you Jappy. I'm mad, too. But I'm mad at everyone, everyone, you hear. Seems to be few adults left in the world nowadays.
Mostly clear skies, 82 for a high today. You have to pay a price for living in that paradise that you do. :)
Corporate taxes do serve a legitimate purpose. A factory in Dallas produces consumer products for sale all over the nation and maybe the world. As a buyer in Montana, I benefit from the public services in Dallas that help the factory remain productive. The factory's taxes, passed along to me in prices, help fund the services that make the factory possible.
Corporate taxes are also a very popular way of raising revenue from taxpayers while pretending to get it from the corporations.
Geoff, your last sentence is correct, and the main argument for corporate taxes.
Your first paragraph has a point in relation to state taxation of corporations, a Texas tax would support the Dallas factory.
Federal taxes go into the black hole to be doled out by the congresscritters and the bureaucrats and cannot be directly attributed to the Dallas area.
Worried about the concentration of wealth? Well, high corporate taxes have resulted in many established companies and most start-ups being organized as partnerships, S-Corps, LLCs, and other pass-thru entities so as to have earnings be taxed only once, at individual rates.
Result: much more of the business world is now held closely, rather than widely held in public corporations. More masters of the universe, fewer widows and retirees.
That's the problem with corporate taxes, they are really consumer taxes as the corporation simply passes on the taxes in their price to consumers. Corporations/business units simply act as tax collectors at the end of the day. It is yet another form of hidden or obscure taxes that exist all over the economic value chain.
I see how public services in Dallas help the factory produce stuff for a customer in Montana. But corporate taxes seem a foolish, or at least distorting and inefficient way of helping pay for Dallas public services.
The factory should pay property taxes for those services, not profit taxes, or even sales taxes to a MT customer. The public services must be paid for, and they will be. The most efficient method of distributing the cost of by the price mechanism. Let the factory pass its “public services tax” along via prices.
If services in Dallas become too expensive perhaps they will build a plant in Montana.
Has anybody read A Canticle for Liebowitz?
Read and enjoyed - highly recommended.
I read that "Canticle" to my family winter of '79 in the Colorado Rockies.
BACK TO THE CASSOULET
Dear BD: I have found this that demonstrates Cassoulet. Go to the website and click on the video--it is lovely.
HOWEVER, I have a question for you. When I bring home a duck from the butcher store, I stand it up in the oven and try to drain off the fat in the cooking process. Can I use this fat to cook another dish with--potatoes perhaps?
I see that I was wrong about adding lamb at least in that particular part of France! Also wrong about the carrots! Geez!!
"A Canticle for Leibowitz" is indeed a great book....it's usually categorized as science fiction, but would really be better called philosophical fiction or theological fiction.
"To minimize suffering and to maximize security were natural and proper ends of society and Caesar. But then they became the only ends, somehow, and the only basis of law -- a perversion. Inevitably, then, in seeking only them, we found only their opposites: maximum suffering and minimum security."
"...children of Merlin, chasing a gleam. Children, too, of Eve, forever buiding Edens--and kicking them apart in berserk fury because somehow it isn't the same."
but would really be better called philosophical fiction or theological fiction.
I'm glad it's not - if it had been in the big-brain section of the library I would have never read it.
I've read Canticle for Liebowitz - brief review here. I'd recommend it for conservatives, especially those interested in the virtues. Anyone else here familiar with Alasdair MacIntyre's 'After Virtue'?