If you make over $200k a year as an individual I'd say you're on your way to being wealthy. And yes they pay taxes but how many breaks do they get? More then I would. I don't get the point of tax breaks, it makes the whole income tax thing unfair.
With that said though I don't mind paying taxes.
Tax breaks are unfair...in that everyone should be paying the same rate. I DO mind paying taxes as every dollar I pay Cook County and the great state of Illinois is pissed away while I'm just treading water. Would I be better off with lower taxes, lower licensing fees, lower sales taxes, and to stop being nickled and dimed to death at the Sec. of State...oh ya. As it sits, I'm worse off and the county is a toilet.
They don't create jobs, they maintain jobs that have already been created. There is a difference. Creating jobs would be happening to support the population growth of the United States, but it's not, if it was people getting out of college would have jobs instead of being left on the side of the road with a huge debt they can't pay off.
Sure they create jobs, it makes "them" more money while more people are employed, getting raises, and enjoying the perks of a successful company. Unsuccessful company? You're laid off. Dem's the breaks.
The issue I see is sovereign risk. A new law here, new regulation there, and whatnot can completely change the outlook of your company, what products you can and can't produce, and your human resource needs. Instability causes hoarding, especially with banks, as you don't know if you're going to be solvent the next day. I've experienced this too in that the FDIC shut the bank down. Sucks, but dem's the breaks.
And boo-hoo, paying taxes twice. You should, you get a personal income and your company makes a profit. Makes sense to me.
If you're a sole proprietor you're paying twice. If you're an investor taking on risk, you're paying twice. What this does is stifle innovation and growth while the government pisses away the $$$ they do confiscate. No one spends YOUR money better than you do.
I see it as they are out to make the largest profit at any cost. Outsourcing only continues to make the already rich, richer, and it shoves out the middle class because they can't get jobs.
Who's middle class? I'd argue whoever is speaking will say they're middle class. Who's rich? The guy down the street with the nicer car. This is class warfare and a tool of socialism; turning man against man. The fact is we're all Americans no matter what we do for a living or how big our portfolio is.
Do you think it's right for the government to punish and seize private property (money) from wealthy people just b/c they've had success? If so, why would anyone want to become wealthy? Worse yet, when the rich have been soaked enough, they're coming after you.
You used to have to have a million dollars to be called a millionaire. Now it's $200,000? If you own a business and have $200,000+ worth of receipts, chances are you're living "paycheck to paycheck" AND paying taxes twice. If that's the person who deserves to be soaked for all they're worth, this nation is doomed. You'll either be an entertainer of some sort, government employee, or on welfare b/c that's the effect "spreading the wealth" has.
Poor people will almost always be supported by the government and as more middle class people lose jobs due to outsourcing, they will drift into the poverty level and thus be supported by the government. This mean the rich people are going to support them any way without getting anything in return.
Is this a good thing? I think this is terrible and is completely avoidable if and when the government reduces size, power, and spending.
Wouldn't it make more sense just for this companies, you know the ones that claim to be job creators, to just hire Americans? That way they can make money and buy more products to better their life. Sure the wealthy business owners are paying more for their worker but at least they are getting something in return rather then dumping tax dollars to support people who aren't working.
Like people, companies have a will to live. If hiring Americans for American production means that their company will become insolvent, they'll go overseas before 100% of the workforce is laid off, all loans are in default, and investors are out of their investment.
Hiring employees is not only risky but very expensive. Payroll tax, liabilities, health insurance, etc just adds up. If businesses can get a break on either how they depreciate durable goods, a tax cut, or being asked to comply with less BS/red tape just to keep their doors open; jobs and better paying jobs will be created.
Government tries again and again to "plan" how people will go about their lives and time and time again just proves Government is stupid. Centralized planning never works.
Buffett's idea is one I can support though, if the government can't get the budget and deficit under control, they should all be ineligible for reelection, other even better all fired on the spot. If I was working and I screwed up the budget at and cost my company a huge sum of money, my ass would be to the curb. But no we still vote this monkeys into office.
Then all the government has to do is change how GDP is calculated, also known as moving the goal posts.
The problem isn't what was spent yesterday (debt), the problem is what is being spent today and into the foreseeable future. The welfare state only ends in everyone being equally miserable.
I have very low tolerance of all politicians. I feel they are all out to screw me over, their political party only identifies in which way they are going to do the screwing over.
That kind of mentality is bad b/c that just means the same freak show will still be in power. Get out & talk to people, vote, campaign for someone who you think represents you and your views. That's your right as an American and if you're fed up; do something about it. It's what the tea party is all about, just a bunch of folks who are fed up.
I know, it's a hard concept isn't it? Makes you wonder why America works at all to be honest.
Yes it does. Good point.
I see the federal government getting into a lot of financing activities now. You see them in the news as "investing in green jobs" or "stimulus spending" or "Chevrolet.com". What the hell has happened? Why is the Dept. of Energy, the EPA, Dept. of Education, and the Dept of XYZ making LOANS TO PRIVATE BUSINESSES AND INDIVIDUALS? Who gave them the authority to pick and choose who gets a loan/grant and who doesn't? I didn't vote for any of them...did you?
And oh boy is there corruption in all of this. Disgusting levels...Mayor Daley levels of corruption & machine politics. It's really sickening when you think about it and come to think of it, I don't blame you if you say they're all bad. I'd just be nice if you and all of us can do something, even something small, to correct this. Get enough people and maybe, just maybe, we can become a representative republic again. As it looks now, I don't know what the hell our country is.
But economics is something that interests me, mainly because of how little I know.
