Cut Corporate Tax Rates......not without something in return

Cut corporate taxes completely. They only bring in $200 billion a year in taxes. I bet we would see a huge boost in economic activity, far more than the $700 billion recovery act
 
Quote from trefoil:

Taxes have to come from somebody. The only proposal I've ever read that made any sense at all economically came from the late Hyman Minsky, to wit:

1 - Eliminate all payroll taxes.
2 - Eliminate the corporation income tax.
3 - Make the personal income tax steeply progressive, and of course strictly limit if not eliminate any and all exemptions on this.

Combined together, this would radically lower the cost of hiring the next employee, eliminate the part of inflation that comes from the increased cost of the corporate income tax, while still giving you a reasonably equitable tax structure and one that would automatically act as a stabilizer for both good and bad times.
Of course, it will never happen, and even if by some weird miracle something that made economic sense did pass (doesn't necessarily have to be the above, I'm sure there are plenty of other decent ideas out there) it would start to be altered the next day to give a special exemption to some lobbyist's client or some powerful committee chairman's district/state.
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Listen, great theory, but practically won't work. I mean, communism is a great theoretical doctrine, and we all know how that has worked.

Again, my point is that you must put some conditions on the lowering of the corporate tax rates, otherwise it's purely an academic exercise, with the "hope" that companies use this tax break to do some hiring. I say force the issue ... We'll lower your taxes, but we had some employment guarantees as collateral . What's wrong with that approach ?
 
Quote from hayman:

Bush economics failed miserably, as lowering corporate tax rates did little to stimulate job growth in this country.
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I agree with the first part. The second part nah..

The problem was not because of lowering taxes. It was because of the lending it was pushing on consumers (bad loans). If you need me to go more into detail, I will.

Why do you think the government bailed out the banks? Because the government knew it pushed lending. Fannie Freddie.. HUD (housing for everyone haha).

50% mortgage debt ratios.. Now the government is paying for the modification of these loans. Lol.

By the way.. this isn't a political forum.. So, check your political biases at the door.

Economics.
 
Quote from hayman:

I love the politicians (not !) who claim that the way to dig out of our current economic crisis, is to cut the corporate tax-rates carte-blanche. Such a move would be great for Wall Street, but not main street. Cutting Corporate Tax Rates would surely increase the bottom line for corporations, and would accelerate the ascent of our stock markets, but would do little to nothing to stimulate jobs growth. Corporations would continue to sit on their stockpile of cash, and would continue to outsource jobs across our borders. The only thing that would change with decreased corporate tax rates, is that corporations would become infinitely more profitable. This does little for the average American, but of course, would be a boon for Wall Street.

What I have failed to hear from any of the Republican "candidates" or from our current administration, is to provide Corporate tax rate cuts for companies that ONLY create jobs in-house; i.e., create jobs domestically. This seems like a no-brainer win-win scenario - create jobs in the U.S., which will have a direct impact on consumer spending (and direct impact on our economy and needed revenue generation), and will benefit the corporations, tax-wise, that create these jobs.

Why on earth should we consider lowering tax rates for corporations carte-blanche, without asking for something in return that will benefit our economy ? Could it be that our politicians ONLY work for Wall Street, and could care less about Main Street ?
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I suggest that you learn some economics before embarrassing yourself further on this board.
 
Quote from nokomisjeff:

I suggest that you learn some economics before embarrassing yourself further on this board.
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What ?? What on earth are you talking about ? I have a doctorate in economics. I am offering a suggestion (apolitical) that I have yet to see offered up by anyone. Most agree that job creation is an important revenue creator. Let's provide REAL incentives to achieve that objective, and to help deter the bleeding of American jobs outside our borders.
 
Quote from hayman:

What ?? What on earth are you talking about ? I have a doctorate in economics. I am offering a suggestion (apolitical) that I have yet to see offered up by anyone. Most agree that job creation is an important revenue creator. Let's provide REAL incentives to achieve that objective, and to help deter the bleeding of American jobs outside our borders.
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Sure you have a doctorate in economics, and nobody ever lies on Elite. All my friends with PhD's in economics say that they have doctorates....Not! When asked, they say that they have PhD's, not doctorates... Sometimes the semantics will give you away.
 
Quote from hayman:

What ?? What on earth are you talking about ? I have a doctorate in economics. I am offering a suggestion (apolitical) that I have yet to see offered up by anyone. Most agree that job creation is an important revenue creator. Let's provide REAL incentives to achieve that objective, and to help deter the bleeding of American jobs outside our borders.
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Here's a good start for you to learn economics where your doctorate left off. Here's a pdf copy of Hazlitt's excellent "Economics in One Lesson." This should help you.
http://www.fee.org/pdf/books/Economics_in_one_lesson.pdf
 
Furthermore Hayman, you're full of bullshit as I looked up your bio and here's what you said.

Started Day Trading in 2002 after a lengthy IT career.
Location Long Island, NY
Interests Trading, sports, sports coaching, computing
Occupation Emini Day Trader/Real Estate Agent

Never heard of a PhD in Econ being a real estate agent and also having a lengthy IT career. As Shakespeare so eloquently put it, "There's something rotten in the state of Denmark."
 
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