Is giving large corporations a tax break really a bad thing?

[IAFB2021Champs]

I’m pretty sure we can all agree large corporations only care about money.
You take away their money by making them pay more in taxes and they will increase their prices.
Wouldn’t most people rather corporations not pay as much in taxes and not jack up their prices? I’d rather pay less money to buy something and I’m guessing most people aren’t going to be paying much more in taxes to offset large corporations not paying their fair share.
Why are we always having a big shit fit about them getting tax benefits.

 

[Hoosierhawkeye]

I’m pretty sure we can all agree large corporations only care about money.
You take away their money by making them pay more in taxes and they will increase their prices.
Wouldn’t most people rather corporations not pay as much in taxes and not jack up their prices? I’d rather pay less money to buy something and I’m guessing most people aren’t going to be paying much more in taxes to offset large corporations not paying their fair share.
Why are we always having a big shit fit about them getting tax benefits.

What's to say they don't jack up their prices anyways?

 

[SSG T]

What's to say they don't jack up their prices anyways?

 

[IAFB2021Champs]

What's to say they don't jack up their prices anyways?

Pretty sure our for the people president, and all politicians for that matter wouldn’t allow anything like that to happen.

 

[CarolinaHawkeye]

Is giving large corporations really a bad thing?​

What is being asked in this question? I'm not sure how to react to this.

 

[fredjr82]

These companies make 10s of Billions and pay very little if anything. Charge them a fair rate but allowing them to pay so little is BS. They can raise prices and people can choose not to consume their services. Free market. They should pay a fair percentage.

 

[Bulldogs1974]

Derp?
R’s love them some nonsolutions.
Why try is the new Republican platform
Gun contol
Climate change
Taxes

But god dammit Jesus will save the day.

 

[alaskanseminole]

These companies make 10s of Billions and pay very little if anything. Charge them a fair rate but allowing them to pay so little is BS. They can raise prices and people can choose not to consume their services. Free market. They should pay a fair percentage.

And as an employee of AT&T Enterprises, LLC, let me say they "act" like we're rolling pennies for gas broke. It's ALL about the $$$$

 

[IAFB2021Champs]

Derp?
R’s love them some nonsolutions.
Why try is the new Republican platform
Gun contol
Climate change
Taxes

But god dammit Jesus will save the day.

Weird thing is that I along with millions would be saving money if prices of products wasn’t so high. Sounds like a better solution than millions of people being broke and not being able to pay bills.
Dems just love to think everything is rainbows and butterflies.

 

[fredjr82]

And as an employee of AT&T Enterprises, LLC, let me say they "act" like we're rolling pennies for gas broke. It's ALL about the $$$$

They're weird. I loved their 90s commercials. They seemed to the cornerstone of everything telecom/technology back then. Then the telecom breakup happened and they seem to disappear. Then they got into the Cell Phone game (Cingular) and bought DirectTV. I will give them credit that they are really the last of the large telecom companies that survived the breakup and then cell phones taking down landlines. Strange journey.

 

[IAFB2021Champs]

Is giving large corporations really a bad thing?​

What is being asked in this question? I'm not sure how to react to this.

I fixed it but don’t worry, we don’t need your extreme liberal gibberish.

 

[torbee]

Yes.

Next.

 

[IIowaFarmBoy]

Trickle down baby...trickle down...

 

[millah_22]

I’m pretty sure we can all agree large corporations only care about money.
You take away their money by making them pay more in taxes and they will increase their prices.
Wouldn’t most people rather corporations not pay as much in taxes and not jack up their prices? I’d rather pay less money to buy something and I’m guessing most people aren’t going to be paying much more in taxes to offset large corporations not paying their fair share.
Why are we always having a big shit fit about them getting tax benefits.

Because they use and take advantage of the things our taxes pay for.

 

[CarolinaHawkeye]

I fixed it but don’t worry, we don’t need your extreme liberal gibberish.

Thank you. Makes it much better.
For the record, we don't need your extreme maga fascism either.

 

[franklinman]

Trickle down baby...trickle down...

Yep, just ask any con how much they love their RR and trickle down.

 

[kn288]

If large corporations paid their fair share of taxes, regular Joe's like us would pay less in taxes.

 

[Sharky1203]

I say we charge them 90% like during the Carter era. That worked out great.

 

[St. Louis Hawk]

Products are expensive because most markets are essentially limited to 4-6 key players.

Food
Cars
Airlines
Energy
Health
Media
Entertainment

 

[StormHawk42]

I lived in Kansas during the Brownback experiment (eliminating business taxes).

It was so spectacularly horrible that Kansas elected a Democrat governor 5 years later.

 

[SSG T]

I say we charge them 90% like during the Carter era. That worked out great.

They've never been that high. And, fun fact, they were at their highest during the 1950s (at the same time personal rates were at their highest)...but only for the richest corporations (and richest individuals).
A big part of our current problems economically go back to the Reagan era cutting corporate rates.


So, let's go back to the good old days of taxation...the Eisenhower years (Republican administration).

 

[IAFB2021Champs]

If large corporations paid their fair share of taxes, regular Joe's like us would pay less in taxes.

I guess you missed that part in my question.
Most poors will see a bigger money loss paying high prices for goods apposed to being taxed a little bit more, unless they take the entire paycheck, it will be hard for many Americans to pay much more in taxes.

 

[Colonoscopy]

I don't like knee jerk reactions on questions like this. I don't care whether or not you like corporations or tax breaks.

I'd like to see some real analysis of implemented corporate tax breaks in different economies.

It's sort of like yay or nay on regulations. Depends on the dang regulation. Can be useful or harmful. Do your homework.

 

[IAFB2021Champs]

Products are expensive because most markets are essentially limited to 4-6 key players.

Food - food comes from different places all over the world and we have many different grocery chains and mom and pop stores throughout the states.
Cars - 14 major global corporations control more than 60 auto brands around the world.
Airlines- I don’t fly so I couldn’t care less
Energy - This might be the only topic I can somewhat believe you on.
Health - We might not have a lot of providers but you can find many different jobs that offer different coverage plans.
Media - This keeps expanding non stop. Everyone has their own app now days yet the prices keep going up.
Entertainment - You can’t be serious with this one. Millions of option for entertainment exist and most of them have sub categories and sub categories.

Ooops, think I just proved that prices are high because no one does anything to stop them from raising prices and the rich people keep driving up the prices.

 

[ParkerHawk]

It does nothing but keep the stock market propped up for the 10% of us that have meaningful amounts invested

 

[Aardvark86]

No, not at all, because those tax breaks are routinely subject to contingencies which reflect the policy preferences of legislative bodies. In short, they are a way of actually getting things done, by private entities. They are not simply just something you give away as an opportunity cost of job creation in an area.

To take a very simple example. Here in Arlington, a certain little company (AMZN) put out a big public RFP process to localities for the relocation of its HQ2 site. For better or worse, Arlington won. And at some cost, to be sure - $23M in Arlington alone. So what did we get? Well, we didn't actually get the tax-paying employees promised, as the downturn has led to AMZN scaling back its project. But, we did get home prices that have risen 5-6% a year, and in a jurisdiction that lives off of property taxes (there is no local income tax), that makes it pretty easy for the county to budget whatever they want, while claiming to hold the line on rates. Second, Arlington is obsessed with becoming more dense, and AMZN has created a 2B fund to support affordable housing in its key locations (including Arlington). Third, grants for public parks, art, education, and similar matters. Fourth, because arlington desperately wants to be seen as some sort of hipster incubator, the AMZN deal was accompanied by the plan to establish VATECH's grad school campus next door. Oh, and as to the local $23M? We were smart enough to do it as a paygo and haven't had to pay it all yet due to downturns and the like.

As much as I hate AMZN, and as easy as it is to bitch about corporate largess, these deals make sense.

 

[IAFB2021Champs]

Thank you. Makes it much better.
For the record, we don't need your extreme maga fascism either.

Not sure who you meant this comment to be fore but I’m just a right leaning average person that dislikes Trump and Biden and just asking a serious question that non of you have considered before giving a snarky politician response.

 

[darylhawk]

I’ll never understand why so many people think a person or company making billions in profits should pay less in taxes than someone making $40K/year, but we see people do it daily on here. It mostly makes me stop questioning why we are screwed as a country

 

[franklinman]

They've never been that high. And, fun fact, they were at their highest during the 1950s (at the same time personal rates were at their highest)...but only for the richest corporations (and richest individuals).
A big part of our current problems economically go back to the Reagan era cutting corporate rates.


So, let's go back to the good old days of taxation...the Eisenhower years (Republican administration).

We knew where the Eisenhower taxes were going, THE GREAT AMERICAN highway, bridges.

 

[St. Louis Hawk]

Ooops, think I just proved that prices are high because no one does anything to stop them from raising prices and the rich people keep driving up the prices.

Okay sparky.

 

[millah_22]

I’ll never understand why so many people think a person or company making billions in profits should pay less in taxes than someone making $40K/year, but we see people do it daily on here. It mostly makes me stop questioning why we are screwed as a country

It helps when you remind yourself that a lot of the people here are more confident than they are intellegent.

 

[IIowaFarmBoy]

If large corporations paid their fair share of taxes, regular Joe's like us would pay less in taxes.

The regular Joe on here isn't so regular... @Joes Place

 

[CarolinaHawkeye]

I say we charge them 90% like during the Carter era. That worked out great.

90%. What kind of drugs are you taking today?

 

[CarolinaHawkeye]

Not sure who you meant this comment to be fore but I’m just a right leaning average person that dislikes Trump and Biden and just asking a serious question that non of you have considered before giving a snarky politician response.

I meant it for you.

 

[Rifler]

If large corporations paid their fair share of taxes, regular Joe's like us would pay less in taxes.

Doubtful,.. If large corporations paid more in taxes, and government spending remained unchanged, (very unlikely), there's a good chance that we could reduce the size of our annual deficit,... But we would still be operating under a deficit and regular Joe would still be paying his same taxes...

 

[OrlandNole]

I’m pretty sure we can all agree large corporations only care about money.
You take away their money by making them pay more in taxes and they will increase their prices.
Wouldn’t most people rather corporations not pay as much in taxes and not jack up their prices? I’d rather pay less money to buy something and I’m guessing most people aren’t going to be paying much more in taxes to offset large corporations not paying their fair share.
Why are we always having a big shit fit about them getting tax benefits.

Most corporations set prices at what the market is willing to bear (within limits). If you lower taxes, they will keep prices constant and take as profit.

Another way to look at it is to lower taxes on citizens, many of which will spend the additional disposable income, which also benefits corporations.

 

[IIowaFarmBoy]

Well...

Federal Surplus or Deficit [-] as Percent of Gross Domestic Product

Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S) from 1929 to 2023 about budget, federal, GDP, and USA.

fred.stlouisfed.org

 

[IIowaFarmBoy]

Public Dept compared to Income:

Federal Debt: Total Public Debt as Percent of Gross Domestic Product

View the ratio of federal debt to the economic output of the U.S., which can indicate economic health and the sustainability of government borrowing.

fred.stlouisfed.org

 

[IIowaFarmBoy]

Put another way. GDP is about 76k per capita. The national debt is like servicing a 100k mortgage on 76k income.

Most of you have more dept as a percentage of income than the public debt is.


Private debt is about 200k per capita. The private debt and public debt combined is getting to the point of being an issue.

+$300 k on 76 K income is entirely dependent on the direction of interest rates. In 1979 farmers were OK on debt at 7 %. 14% to 20% caused a catastrophe and it happened rather quickly. Current public debt to gdp is a yawner by itself under current interest rates. Private plus public and a rapid interest rate rise and a debt spiral may surface. The stock market is not currently overvalued but could change rapidly.

United States Private Debt to GDP

Private Debt to GDP in the United States decreased to 216.50 percent in 2023 from 224.50 percent in 2022. United States Private Debt to GDP - values, historical data, forecasts and news - updated on June of 2024.

tradingeconomics.com

 

[IAFB2021Champs]

I meant it for you.

And that’s why I said you didn’t need to share you input. You don’t care to actually listen or use any common sense. You just preach what you are told to preach. I forgot I’m supposed to also call you a homo for calling me a maga.