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Why do you support Joe Biden?

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Why do you support Joe Biden?

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Eren

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Re: Why do you support Joe Biden?
« Reply #510 on: March 26, 2021, 12:19:44 AM »
It was a statement of fact. Croutons position as moderator gives him power here
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Wolvaccine

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Re: Why do you support Joe Biden?
« Reply #511 on: April 05, 2021, 01:35:39 PM »
Joe Biden wants to raise the corporate tax rate. Good stuff

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Themightykabool

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Re: Why do you support Joe Biden?
« Reply #512 on: April 05, 2021, 02:06:53 PM »
Quote from: Shifter on April 05, 2021, 01:35:39 PM
Joe Biden wants to raise the corporate tax rate. Good stuff



a 1term president has nothing to fear (as noted by predecesor).
gitt'r done.
have a legacy (vs infamy).


also, biden sucks.
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Jamie

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Re: Why do you support Joe Biden?
« Reply #513 on: April 06, 2021, 07:57:50 AM »
Quote from: Shifter on April 05, 2021, 01:35:39 PM
Joe Biden wants to raise the corporate tax rate. Good stuff



This a good, balanced article about corporate tax: https://www.weforum.org/agenda/2020/01/corporation-tax-good-or-bad-for-growth/

As for myself, I don't necessarily support/see the benefit of raising the corporate tax. I imagine that 21% is a better balance than 28% of having businesses contribute to the stable, thriving society they depend on while still incentivizing growth and recognizing that businesses pay taxes in a plethora of other ways.
« Last Edit: April 06, 2021, 08:00:28 AM by Jamie »
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Lorddave

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Re: Why do you support Joe Biden?
« Reply #514 on: April 06, 2021, 08:28:28 AM »
Quote from: Jamie on April 06, 2021, 07:57:50 AM
Quote from: Shifter on April 05, 2021, 01:35:39 PM
Joe Biden wants to raise the corporate tax rate. Good stuff



This a good, balanced article about corporate tax: https://www.weforum.org/agenda/2020/01/corporation-tax-good-or-bad-for-growth/

As for myself, I don't necessarily support/see the benefit of raising the corporate tax. I imagine that 21% is a better balance than 28% of having businesses contribute to the stable, thriving society they depend on while still incentivizing growth and recognizing that businesses pay taxes in a plethora of other ways.

Buuuttt... They don't pay taxes.  Corporations often use loopholes and tax writeoffs to basically pay no taxes.  That 21% isn't even actual payment.  Closer to 1%.
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Stash

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Re: Why do you support Joe Biden?
« Reply #515 on: April 06, 2021, 08:40:11 AM »
I have no idea how the corporate write-off mechanics work, but they are powerful. This from just today:

Salesforce paid no federal income tax in 2020 despite $2.6 billion in profit
https://www.sfchronicle.com/business/article/Salesforce-paid-no-federal-income-tax-in-2020-16078479.php

55 Corporations Paid $0 in Federal Taxes on 2020 Profits
At least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year despite enjoying substantial pretax profits in the United States. This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations, and it appears to be the product of long-standing tax breaks preserved or expanded by the 2017 Tax Cuts and Jobs Act (TCJA) as well as the CARES Act tax breaks enacted in the spring of 2020.
https://itep.org/55-profitable-corporations-zero-corporate-tax/
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Crouton

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Re: Why do you support Joe Biden?
« Reply #516 on: April 06, 2021, 08:46:36 AM »
Quote from: Jamie on April 06, 2021, 07:57:50 AM
Quote from: Shifter on April 05, 2021, 01:35:39 PM
Joe Biden wants to raise the corporate tax rate. Good stuff



This a good, balanced article about corporate tax: https://www.weforum.org/agenda/2020/01/corporation-tax-good-or-bad-for-growth/

As for myself, I don't necessarily support/see the benefit of raising the corporate tax. I imagine that 21% is a better balance than 28% of having businesses contribute to the stable, thriving society they depend on while still incentivizing growth and recognizing that businesses pay taxes in a plethora of other ways.

If they did that primarily for growth, new hires, r&d then that would be great.  But that really wouldn't be their first choice for that surplus.  Mostly that tax cut for the super rich during the Trump administration went into stock buybacks.  https://apnews.com/article/438fae12f9204b1fbd8e8b1985ae554f

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markjo

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Re: Why do you support Joe Biden?
« Reply #517 on: April 06, 2021, 09:00:10 AM »
A lot of big corporations don't pay much of anything in state or local taxes either because of incentives offered to lure businesses in.  Remember all of the tax breaks everybody was offering Amazon when they were looking to build a new headquarters?
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Jamie

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Re: Why do you support Joe Biden?
« Reply #518 on: April 06, 2021, 10:04:40 AM »
Obviously closing tax loopholes and limiting write-offs is important.

But I stand by my statement -- in principle, I support a somewhat lower corporate tax rate.
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Themightykabool

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Re: Why do you support Joe Biden?
« Reply #519 on: April 06, 2021, 12:14:26 PM »
So long as those corporations pollute the local area, work the population to death, and dont leave any actual money in the neighbourhood and instead cripple it when they uproot to mexico, leaving all those invested the service industry to lose their startup.

Yes
Down with corporate taxes.
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Jamie

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Re: Why do you support Joe Biden?
« Reply #520 on: April 06, 2021, 05:38:46 PM »
Quote from: Themightykabool on April 06, 2021, 12:14:26 PM
So long as those corporations pollute the local area, work the population to death, and dont leave any actual money in the neighbourhood and instead cripple it when they uproot to mexico, leaving all those invested the service industry to lose their startup.

Yes
Down with corporate taxes.

4,587 posts and I still can't ever figure out what you're trying to say.  ;)

All jesting aside, it depends on the corporation. What about Ben & Jerry's?
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Themightykabool

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Re: Why do you support Joe Biden?
« Reply #521 on: April 06, 2021, 06:14:29 PM »
Pay your taxes to support the human and land resources the company uses to make profits.

Treat your employees fairly so they dont have to unionize.

If you do it good for you.
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boydster

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Re: Why do you support Joe Biden?
« Reply #522 on: April 06, 2021, 07:05:02 PM »
Maybe we could incentivize that kind of behavior with tax breaks, and if companies don't comply, they are just subject to higher tax rates like they have been historically? I like that idea. Make the loopholes feel less like loopholes, and more like just doing the right thing.
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JimmyTheCrab

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Re: Why do you support Joe Biden?
« Reply #523 on: April 07, 2021, 02:12:10 AM »
Quote from: Jamie on April 06, 2021, 05:38:46 PM
All jesting aside, it depends on the corporation. What about Ben & Jerry's?
You mean Unilever don't you?  "Ben & Jerry's" is just one of their many brand names.

Unilever exists for the same reasons all the other publicly traded companies exist:  to maximise the return on investment to shareholders.
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Themightykabool

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Re: Why do you support Joe Biden?
« Reply #524 on: April 07, 2021, 04:23:54 AM »
Quote from: boydster on April 06, 2021, 07:05:02 PM
Maybe we could incentivize that kind of behavior with tax breaks, and if companies don't comply, they are just subject to higher tax rates like they have been historically? I like that idea. Make the loopholes feel less like loopholes, and more like just doing the right thing.

Then you need a 2ndary audit system.
No one has time to police "being good".
Barely funded urs to go after the big corp and their armies of lawyers and shell companies.
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boydster

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Re: Why do you support Joe Biden?
« Reply #525 on: April 07, 2021, 05:55:15 AM »
That's a neat supposition. I don't think it's accurate though. Cooking the books is already illegal. Showing an actual paper trail that you reinvested a percentage of profits into your employees, for example, isn't a hard thing to accomplish.
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Themightykabool

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Re: Why do you support Joe Biden?
« Reply #526 on: April 07, 2021, 06:47:40 AM »
Already illegal
But alrwady many legal loopholes allow for people to hide and avoid taxes
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DuckDodgers

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Re: Why do you support Joe Biden?
« Reply #527 on: April 07, 2021, 07:40:07 AM »
Quote from: boydster on April 07, 2021, 05:55:15 AM
That's a neat supposition. I don't think it's accurate though. Cooking the books is already illegal. Showing an actual paper trail that you reinvested a percentage of profits into your employees, for example, isn't a hard thing to accomplish.
I can get behind a high corporate tax with tax breaks for meeting certain goals to better society.  Make a minimum tax rate of 25% which a company would pay if they meet all goals and make the max rate something like 70%.  Give a break for having a certain rate of lowest employee pay to CEO compensation, including stock options and other benefits, which is easily reported and auditable.  Give another break for offering parental leave.  I'm sure there are more things that could be easily reported and also easily audited, so as to not add a ton of additional complexity to already complex tax filings.
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Jamie

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Re: Why do you support Joe Biden?
« Reply #528 on: April 07, 2021, 07:51:30 AM »
Quote from: DuckDodgers on April 07, 2021, 07:40:07 AM
I can get behind a high corporate tax with tax breaks for meeting certain goals to better society.  Make a minimum tax rate of 25% which a company would pay if they meet all goals and make the max rate something like 70%.  Give a break for having a certain rate of lowest employee pay to CEO compensation, including stock options and other benefits, which is easily reported and auditable.  Give another break for offering parental leave.  I'm sure there are more things that could be easily reported and also easily audited, so as to not add a ton of additional complexity to already complex tax filings.

I do like this idea.
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Space Cowgirl

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Re: Why do you support Joe Biden?
« Reply #529 on: April 07, 2021, 12:11:50 PM »
I've thought for a long time that trickle down could work if we made it work. Just giving these corporations tax breaks is not enough.
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JJA

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Re: Why do you support Joe Biden?
« Reply #530 on: April 07, 2021, 12:43:35 PM »
Trickle down does work. It's called corporate taxes. :)

It doesn't work when you give rich people even more money with the expectation they will spread this extra wealth around, even though they could already DO that because, you know, being rich. Instead they pocket it, which surprises no one.

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Space Cowgirl

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Re: Why do you support Joe Biden?
« Reply #531 on: April 07, 2021, 12:47:55 PM »
Giving corporations tax breaks with the expectation that they will spread the extra wealth around is trickle down economics. https://en.wikipedia.org/wiki/Trickle-down_economics 
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Quote from: Thork on November 27, 2012, 12:25:43 PM
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.
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markjo

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Re: Why do you support Joe Biden?
« Reply #532 on: April 07, 2021, 01:26:59 PM »
I thought that Reagan proved beyond any doubt that trickle down economics doesn't work back in the '80s.
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DuckDodgers

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Re: Why do you support Joe Biden?
« Reply #533 on: April 07, 2021, 02:04:10 PM »
Quote from: markjo on April 07, 2021, 01:26:59 PM
I thought that Reagan proved beyond any doubt that trickle down economics doesn't work back in the '80s.
Reagan proved that it does work, just not in the way you'd think it does.  It works by making the pleebs believe they will one day be the ones to benefit from those tax breaks, so they defend them religiously.
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Crouton

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Re: Why do you support Joe Biden?
« Reply #534 on: April 07, 2021, 02:06:17 PM »
Quote from: markjo on April 07, 2021, 01:26:59 PM
I thought that Reagan proved beyond any doubt that trickle down economics doesn't work back in the '80s.

Obviously untrue. It works fantastically for corporations.
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JimmyTheCrab

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Re: Why do you support Joe Biden?
« Reply #535 on: April 07, 2021, 02:09:53 PM »
Quote from: Space Cowgirl on April 07, 2021, 12:47:55 PM
Giving corporations tax breaks with the expectation that they will spread the extra wealth around is trickle down economics. https://en.wikipedia.org/wiki/Trickle-down_economics
Wealth has been continually trickling (sometimes gushing) up since around 1980.  When do you expect it to start going the other way?
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Space Cowgirl

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Re: Why do you support Joe Biden?
« Reply #536 on: April 07, 2021, 04:08:56 PM »
Quote from: JimmyTheCrab on April 07, 2021, 02:09:53 PM
Quote from: Space Cowgirl on April 07, 2021, 12:47:55 PM
Giving corporations tax breaks with the expectation that they will spread the extra wealth around is trickle down economics. https://en.wikipedia.org/wiki/Trickle-down_economics
Wealth has been continually trickling (sometimes gushing) up since around 1980.  When do you expect it to start going the other way?

I do not, I'm not sure why you think I'm arguing in favor of trickle down economics.
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Quote from: Thork on November 27, 2012, 12:25:43 PM
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.
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Themightykabool

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Re: Why do you support Joe Biden?
« Reply #537 on: April 07, 2021, 05:04:54 PM »
Seriously, scg
Trickle down is proven to not work in so many examples
Quit promoting it
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Crouton

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Re: Why do you support Joe Biden?
« Reply #538 on: April 07, 2021, 05:47:42 PM »
Quote from: Themightykabool on April 07, 2021, 05:04:54 PM
Seriously, scg
Trickle down is proven to not work in so many examples
Quit promoting it

I believe you've misunderstood what SCG was saying...
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Space Cowgirl

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Re: Why do you support Joe Biden?
« Reply #539 on: April 07, 2021, 05:52:17 PM »
OMG  ;D
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Quote from: Thork on November 27, 2012, 12:25:43 PM
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.
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