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/-----/ "Actually, higher taxes forces corporations to operate more efficiently and effectively, and encourages reinvestment in their own business."Actually, higher taxes forces corporations to operate more efficiently and effectively, and encourages reinvestment in their own business.
Whatever they reinvest in their company is tax deductible or a tax write off.. Give raises to employees, or hire more... all a tax write off....expand your inventory, or build additional retail stores or office space, all a tax write off....
These type of things are done, to avoid owing higher taxes from a higher tax rate....and to avoid having to raise the price of goods higher than the market is willing to pay....
/----/ Keep laughing you know nothing chuckle head.
www.sun-sentinel.com
Do you not remember that fiasco? That is the precise scenario that played out. Somebody thought they were really gonna stick it to the rich guys by raising taxes on the yachts they bought. Naturally, this raised the costs of building those yachts so high the companies couldn't raise their prices high enough to cover them. The American yacht industry died and the rich guys kept buying yachts, just not American made ones.
/----/ Keep laughing you know nothing chuckle head.
Boat builders in South Florida and around the nation are cheering the repeal of a misguided luxury tax on expensive yachts. All taxpayers, and all supporters of fair taxation, should join them.BOAT BUILDERS SCUTTLED BY YACHT TAX
Boat builders in South Florida and around the nation are cheering the repeal of a misguided luxury tax on expensive yachts. All taxpayers, and all supporters of fair taxation, should join them. Con…
Congress' adoption of the tax in 1990 shows the dangers of a tax philosophy tilted too strongly in the direction of "soak the rich." Yes, rich people should pay a fair share of taxes, but taxing them too harshly can -- and did -- backfire, with harmful consequences for many non-rich people.
The tax amounted to 10 percent of the cost of any new boats selling for more than $100,000. It was so exorbitant, and so unfair, that many yacht buyers just stopped buying.
The result: Only a modest amount of tax dollars were collected. Meanwhile, the boat industry sank as if scuttled, putting thousands of middle-income employees out of work.
Nationally, yacht sales dipped from 7,500 in 1990 to 3,500 in 1992. There were 30,000 jobs lost nationwide, 8,000 in South Florida, where one in every four of America's boats is built.
And while we're at it, let's raise the MW to $100/hr and get rid of poverty./-----/ "Actually, higher taxes forces corporations to operate more efficiently and effectively, and encourages reinvestment in their own business."
Well, Hell's Bells. Raise corporate taxes 100% so they can prosper even more. Heck - raise them to 200% and we'll be in the land of milk and honey.
The destruction of the American yacht builders cost a lot of good paying jobs. That doesn't bother you? It also cost a lot in unemployment benefits for those workers. That doesn't bother you? You bet I'm outraged when Washington destroys jobs like that.
Yes, because we need to be outraged over the impact of tax increases on the price of yachts
Better yet, let’s raise it to $15 an hour and ease the burden of povertyAnd while we're at it, let's raise the MW to $100/hr and get rid of poverty.
The destruction of the American yacht builders cost a lot of really good paying jobs. That doesn't bother you? It also cost a lot in unemployment benefits for those workers. That doesn't bother you? You bet I'm outraged when Washington destroys jobs like that.
/----/ You imbecile. Even tax the rich democRATs realized it was a disaster and repealed it. Maybe you missed this part.
Yes, because we need to be outraged over the impact of tax increases on the price of yachts
/----/ You can't admit you were wrong, so you double down on stupid.Yachts?
Lets not raise taxes on the rich because yachts will cost too much
Again, a lot of people lost good paying jobs because of that bone-head move and it didn't hurt the rich at all since they just started buying more foreign made yachts. It's a perfect example of the situation you described where a company can't raise its prices high enough. In this case, government destroyed those jobs. And you find it amusing. Sad.Yachts?
Lets not raise taxes on the rich because yachts will cost too much
And close a lot of low profit margin businesses while we're at it. Heck, let's make it even harder for teenagers and unskilled workers to break into the job market. They don't need jobs.Better yet, let’s raise it to $15 an hour and ease the burden of poverty
I will keep that in mind the next time I go to buy a yacht/----/ You imbecile. Even tax the rich democRATs realized it was a disaster and repealed it. Maybe you missed this part.
The result: Only a modest amount of tax dollars were collected. There were 30,000 jobs lost nationwide, 8,000 in South Florida, where one in every four of America's boats is built. The luxury tax didn't soak the rich; it just made them sweat enough to choose the easy way to avoid paying it. They didn't buy a new boat. That, in turn, doused a lot of boat builders and their employees.
John Kerry Saves $500,000 By Docking 76-Foot Luxury Yacht ...
https://www.huffpost.com › entry › john-kerry-saves-500000-b_n_656985
John Kerry Saves $500,000 By Docking 76-Foot Luxury Yacht Out Of State. BOSTON (AP) — Massachusetts Sen. John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to the cash-strapped Bay State. If the "Isabel" were kept at the 2004 Democratic presidential ...
If you can’t survive without the taxpayer subsidizing your workforce, you don’t deserve to surviveAnd close a lot of low profit margin businesses while we're at it. Heck, let's make it even harder for teenagers and unskilled workers to break into the job market. They don't need jobs.
You should just quit subsidizing them, and stop whining about it.If you can’t survive without the taxpayer subsidizing your workforce, you don’t deserve to survive
We shouldn’t put the burden of subsidizing marginal businesses on teenagers
And the consequence of doing that is more teenagers unable to find work and with more idle time on their hands. Really good idea there. Another consequence is making it harder for an unskilled laborer to compete in the job market to feed his family. Another great idea.If you can’t survive without the taxpayer subsidizing your workforce, you don’t deserve to survive
We shouldn’t put the burden of subsidizing marginal businesses on teenagers
So, ALL companies will raise prices at a set rate because of tax hike?In all those instances you list, company spending is individual. Not all companies are spending at the same time. If one raised their prices to cover expansion, their competition does not. Competition keeps prices low. Taxation isn't competitive, it's the one time all companies can raise their prices with impunity at a set rate.
Lets look at the real consequence of low minimum wage on teenagers.And the consequence of doing that is more teenagers unable to find work and with more idle time on their hands. Really good idea there. Another consequence is making it harder for an unskilled laborer to compete in the job market to feed his family. Another great idea.
Here's a thought. Every state, heck every city and county can set their own MW as high as they want. Why not let them set it where it works best for them? That way, the people closest to the voters are in charge of setting the MW for their area. Problem solved and no need for a one size fits none federal MW.
It sure does become an individual decision. If a company gets a tax cut, the owner has a choice of what to do with the extra cash. Lowering prices is one of those choices, and if he sees other companies lowering their prices, he will too. Jack everyone's taxes up, and only if a company already has a large profit margin will it not raise prices. It's the phenomenon you see at the gas pump. Within hours of an announcement that a Saudi prince found a zit on his nose, gas prices jump. It takes weeks for them to fall again after it's discovered there really wasn't a zit. You're talking about human nature here.So, ALL companies will raise prices at a set rate because of tax hike?
But give them a tax break, and then it becomes an 'individual' decision?
RIIIIIIGHT.
You never owned a business.
Same thing happens when the government raises taxes, business owners have the same choices.It sure does become an individual decision. If a company gets a tax cut, the owner has a choice of what to do with the extra cash. Lowering prices is one of those choices, and if he sees other companies lowering their prices, he will too. Jack everyone's taxes up, and only if a company already has a large profit margin will it not raise prices. It's the phenomenon you see at the gas pump. Within hours of an announcement that a Saudi prince found a zit on his nose, gas prices jump. It takes weeks for them to fall again after it's discovered there really wasn't a zit. You're talking about human nature here.
