Economics 101

[CultureCitizen]

Though I really like more taxation through inflation

How would that work?

and Hayek would actually agree

Link?

There is no reason why in a free society government should not assure to all, protection against severe deprivation in the form of an assured minimum income, or a floor below which nobody need descend. To enter into such an insurance against extreme misfortune may well be in the interest of all; or it may be felt to be a clear moral duty of all to assist, within the organised community, those who cannot help themselves. So long as such a uniform minimum income is provided outside the market to all those who, for any reason, are unable to earn in the market an adequate maintenance, this need not lead to a restriction of freedom, or conflict with the Rule of Law

Nor is there any reason why the state should not assist the individuals in providing for those common hazards of life against which, because of their uncertainty, few individuals can make adequate provision. Where, as in the case of sickness and accident, neither the desire to avoid such calamities nor the efforts to overcome their consequences are as a rule weakened by the provision of assistance – where, in short, we deal with genuinely insurable risks – the case for the state's helping to organize a comprehensive system of social insurance is very strong.... Wherever communal action can mitigate disasters against which the individual can neither attempt to guard himself nor make the provision for the consequences, such communal action should undoubtedly be taken

Friedrich Hayek - Wikipedia, the free encyclopedia

Then of course that could lead to a significant reduction in the size of government.

Didn't see anything here about taxation through inflation.

True enough, he simply supported a universal minimum income and some way of social insurance.

 

[Toddsterpatriot]

To rational people, we simply need to change the laws to be sure they do pay.

Why should they pay US taxes on foreign profits? Do you have a rational reason?

If they want to do business here, and sell in this country, they need to pay their fair share.

They already pay US taxes on US profits.

Oh, toddster, that comment ... why would they have to pay on foreign profits? Comming from you ?

Of course , you know why ( it is probably just a rethorical question I guess).

What I find unsettling is the fact that you are so cynical as to ask the question. Because, of course , you know how corporations work and you know exactly what financial strategies they use to offshore the profits. Mind you , you have probably helped in the process.

Oh, toddster, that comment ... why would they have to pay on foreign profits? Comming from you ?

So why? We're the only major economy that tries to tax worldwide income of our corporations.

Because, of course it is one of the ways to make sure the profits are taxed.
But, lets get creative, other ways would be:
a) Tarifs on fiscal paradises.
b) Taxes on financial transactions
c) A minimum income... taxation via inflation .

Because, of course it is one of the ways to make sure the profits are taxed.

Profits made overseas are taxed overseas. We try to tax those profits again.

a) Tarifs on fiscal paradises.

Please explain further.

b) Taxes on financial transactions

Stupid idea that would cost jobs and raise little.

1) Yes, but those taxes hould have been taxed in the US at a higher rate, not in ireland at a 10% ( just a figure I didn't really check the rate).
2) Would actually be symbolic, it wouldn't rise much in the way of taxes, but raising the tariffs on some countries, at some point might make them think twice about their tax rate ( there is allways a way around it).
3) Tax any outgoing transaction made with a foreign country. Yes, it would mean hell for financial markets, but it could be done.

Though I really like more taxation through inflation... and Hayek would actually agree.

Yes, but those taxes hould have been taxed in the US at a higher rate

Yes, overseas earnings are taxed at a lower than the highest in the world US rate.

Would actually be symbolic, it wouldn't rise much in the way of taxes, but raising the tariffs on some countries, at some point might make them think twice about their tax rate

You want to punish Ireland, for example, for their low tax rate by hiking their tariffs?

Tax any outgoing transaction made with a foreign country

For what purpose? And define "outgoing transaction".

Yes, it would mean hell for financial markets, but it could be done.

We can do lots of stupid things. Why do we want to?

 

[CultureCitizen]

Yes, but those taxes hould have been taxed in the US at a higher rate

Yes, overseas earnings are taxed at a lower than the highest in the world US rate.

Would actually be symbolic, it wouldn't rise much in the way of taxes, but raising the tariffs on some countries, at some point might make them think twice about their tax rate

You want to punish Ireland, for example, for their low tax rate by hiking their tariffs?

Tax any outgoing transaction made with a foreign country

For what purpose? And define "outgoing transaction".

Yes, it would mean hell for financial markets, but it could be done.

We can do lots of stupid things. Why do we want to?

1 and 2) Yes. Though it would be purely symbolic. Not that Ireland or any fiscal paradise is a top trading partner ... or anything close to it.

3) For any purpose that would be like setting a flat tariff to all imports and money transfers.
For the same reason tariffs have existed most of the time:
a) Increase government revenues
b) Improving trade balance.

 

[Toddsterpatriot]

Yes, but those taxes hould have been taxed in the US at a higher rate

Yes, overseas earnings are taxed at a lower than the highest in the world US rate.

Would actually be symbolic, it wouldn't rise much in the way of taxes, but raising the tariffs on some countries, at some point might make them think twice about their tax rate

You want to punish Ireland, for example, for their low tax rate by hiking their tariffs?

Tax any outgoing transaction made with a foreign country

For what purpose? And define "outgoing transaction".

Yes, it would mean hell for financial markets, but it could be done.

We can do lots of stupid things. Why do we want to?

1 and 2) Yes. Though it would be purely symbolic. Not that Ireland or any fiscal paradise is a top trading partner ... or anything close to it.

3) For any purpose that would be like setting a flat tariff to all imports and money transfers.
For the same reason tariffs have existed most of the time:
a) Increase government revenues
b) Improving trade balance.

1 and 2) Yes. Though it would be purely symbolic.

What do you mean 1 Yes?
US taxes rates are higher. Highest corporate rates in the world.

And you want to punish any country that has a lower rate than us? That's everybody.
What do you hope to accomplish?

For any purpose that would be like setting a flat tariff to all imports and money transfers.

You want to put a tax on imports and money transfers? Wow! That's like Trump level stupid.
Or Obama when he said he'd raise the capital gains rate, even if it brought in less revenue (it would), just to make it fair.
When you get morons in power trying to make things fair, they seriously fuck things up.
Just look at Carter and the new worst president, Obama. LOL!

Increase government revenues

And when it decreases government revenues and costs jobs?

Improving trade balance

The trade balance always improves during a recession.
Why would you want to cause a recession just to improve the trade balance?
The way to improve the trade balance and actually make things better, would be to reduce barriers to US production. To cut taxes on US production.
Your ideas would make things worse and reduce the government revenue you feel you'd be increasing.

 

[CultureCitizen]

You want to put a tax on imports and money transfers? Wow! That's like Trump level stupid.

Actually , most banks charge a fee for any transfer.... I guess that's stupid too.

 

[Toddsterpatriot]

You want to put a tax on imports and money transfers? Wow! That's like Trump level stupid.

Actually , most banks charge a fee for any transfer.... I guess that's stupid too.

I pay bills all the time that transfer money out of my account.
Haven't paid a fee yet.
Yeah, that would be stupid too.

 

[P@triot]

Liberals continue to illustrate that the prefer no wage jobs to low wage jobs. Nothing generates unemployment like liberal policy...

Minimum Wage Hikes Blamed for Restaurant Closure

 

[Rshermr]

Liberals continue to illustrate that the prefer no wage jobs to low wage jobs. Nothing generates unemployment like liberal policy...

Minimum Wage Hikes Blamed for Restaurant Closure

So, your answer to a unbiased and impartial site is the Daily Signal, the well known bat shit crazy con source. You must be simply trying to prove you are a simple con troll, and a janitor. Mission accomplished, me boy. I should get an article from MoveOn.org. But then, I won't, because I have respect for readers and do not want to affect my integrity. Which, I understand, is no concern for you.

 

[CultureCitizen]

You want to put a tax on imports and money transfers? Wow! That's like Trump level stupid.

Actually , most banks charge a fee for any transfer.... I guess that's stupid too.

I pay bills all the time that transfer money out of my account.
Haven't paid a fee yet.
Yeah, that would be stupid too.

That doesn't stop them from charging fees.

Wire Transfer - International Wire Transfers from Bank of America

 

[P@triot]

Liberals continue to illustrate that the prefer no wage jobs to low wage jobs. Nothing generates unemployment like liberal policy...

Minimum Wage Hikes Blamed for Restaurant Closure

So, your answer to a unbiased and impartial site is the Daily Signal, the well known bat shit crazy con source. You must be simply trying to prove you are a simple con troll, and a janitor. Mission accomplished, me boy. I should get an article from MoveOn.org. But then, I won't, because I have respect for readers and do not want to affect my integrity. Which, I understand, is no concern for you.

How many times have you cut and pasted that tired and pitiful response? The fact is - you've used nothing but partisan sources. And the fact is - you have no idea what the Daily Signal even is. You just proclaim every source that makes you look stupid as "that doesn't count because X...".

The article isn't an op-ed you idiot. It's from a restaurant that is closing it's doors because of ignorant liberal policy. Why don't you just focus on learning proper English before moving on to economics chief? You have to learn how to walk before you learn how to run.

 

[EdwardBaiamonte]

Worked so well they had to be saved right....................

they had to be saved from massive libsoviet govt regulation. Do you understand? 1+1=2

 

[EdwardBaiamonte]

............Yeah allowing the too big to fail to self regulate was such a great idea.......

actually dear there was massive lib soviet regulation in place at time of crash that prevented free market regulation from working. Do you understand now?

 

[EdwardBaiamonte]

It is clear that VW is by far the largest player

actually dear VW has about the same capitalization as BMW and Mercedes. Do you ever get anything right?,

 

[EdwardBaiamonte]

To rational people, we simply need to change the laws to be sure they do pay. .

well actually the great idea in America is to be free of govt so limiting their freedom to force them to pay is unamerican.

Plus, the very idea of a business tax is not to collect revenue but to pander to the pure and perfect ignorance of liberals who don't know that a business is a tax collector not a tax payer. A business passes the tax cost on like it passes any cost on.

 

[EdwardBaiamonte]

Second, Germany has also a high tax rate . In 1995 it was even higher than that of the US ( 55% ) and today it is slightly lower ( 29%).

1) who cares about 1995??????????????????
2) USA corporate tax is 39% which is a whopping disadvantage reflecting a greater socialist bent than even Europe which explains our 1% GDP Omama economy.

 

[Toddsterpatriot]

You want to put a tax on imports and money transfers? Wow! That's like Trump level stupid.

Actually , most banks charge a fee for any transfer.... I guess that's stupid too.

I pay bills all the time that transfer money out of my account.
Haven't paid a fee yet.
Yeah, that would be stupid too.

That doesn't stop them from charging fees.

Wire Transfer - International Wire Transfers from Bank of America

I just paid 4 bills online.
Every one of them transferred money out of my account.
None resulted in a fee.

 

[edthecynic]

Plus, the very idea of a business tax is not to collect revenue but to pander to the pure and perfect ignorance of liberals who don't know that a business is a tax collector not a tax payer. A business passes the tax cost on like it passes any cost on.

Hold on there a minute there Slick!
As a pass-along all business taxes are de facto consumption taxes which the Right have renamed as the "Fair Tax."
So now the "Fair Tax" is suddenly not so "fair."

 

[EdwardBaiamonte]

Plus, the very idea of a business tax is not to collect revenue but to pander to the pure and perfect ignorance of liberals who don't know that a business is a tax collector not a tax payer. A business passes the tax cost on like it passes any cost on.

Hold on there a minute there Slick!
As a pass-along all business taxes are de facto consumption taxes which the Right have renamed as the "Fair Tax."
So now the "Fair Tax" is suddenly not so "fair."

it has nothing to do with fairness. the corporate tax is based on the 100% pure ignorance of liberalism/ Do you understand?

 

[CultureCitizen]

You want to put a tax on imports and money transfers? Wow! That's like Trump level stupid.

Actually , most banks charge a fee for any transfer.... I guess that's stupid too.

I pay bills all the time that transfer money out of my account.
Haven't paid a fee yet.
Yeah, that would be stupid too.

That doesn't stop them from charging fees.

Wire Transfer - International Wire Transfers from Bank of America

I just paid 4 bills online.
Every one of them transferred money out of my account.
None resulted in a fee.

Well , congratulations ... I guess.
Were any of those international money transfers at all?
And how is that relevant for the discussion given the fact tha BoA does charge fees for international money transfers?

 

[CultureCitizen]

It is clear that VW is by far the largest player

actually dear VW has about the same capitalization as BMW and Mercedes. Do you ever get anything right?,

Any links Ed ? or as usual I have to take your word on it ?