Sonic Youth Gossip - View Single Post - Is Trump really a serious contender for the Republican nomination?

!@#$%! · 03.15.2019, 04:59 PM

for example, the notion of “billionaires” and “taxes” and “corporations”

billionaires dont walk around with a lot of cash in their pockets.

they don’t “make billions” in income.

their billions are from ownership in successful companies. as markets have expanded globally, bringing more people into the economy, some fortunes have soared. yes some companies are hugely valued.

but these fortunes are in the VALUATION of these companies. it’s not free-floating cash.

if bezos right now needed to pay a billion dollars, he’d have to sell a bunch of stock, and the price of amazon would drop immediately. then held be out a billion. one-time deal.

“let’s tax the corporations” then

fine, tax the corporations... but since many corporations have to operate on thin profit margins due to fierce competition, then they have to make up for the tax burden by either
a) passing the cost increase along to the consumer, so the consumer pays the tax
b) cutting costs, which often means dumping employees, who now have to collect public assistance, so everybody else pays the tax
c) reducing profits, fucking over not just bezos, but also the fixed income crowd and pensioners. sorry grandpa, go back to work! and so, retirees pay the tax.

so there, the consumer and the worker and the old people end up paying for the MAGICAL TAX INCREASE on businesses.

03.15.2019, 04:59 PM	#6149
!@#$%! invito al cielo Join Date: Mar 2006 Location: mars attacks Posts: 42,468	for example, the notion of “billionaires” and “taxes” and “corporations” billionaires dont walk around with a lot of cash in their pockets. they don’t “make billions” in income. their billions are from ownership in successful companies. as markets have expanded globally, bringing more people into the economy, some fortunes have soared. yes some companies are hugely valued. but these fortunes are in the VALUATION of these companies. it’s not free-floating cash. if bezos right now needed to pay a billion dollars, he’d have to sell a bunch of stock, and the price of amazon would drop immediately. then held be out a billion. one-time deal. “let’s tax the corporations” then fine, tax the corporations... but since many corporations have to operate on thin profit margins due to fierce competition, then they have to make up for the tax burden by either a) passing the cost increase along to the consumer, so the consumer pays the tax b) cutting costs, which often means dumping employees, who now have to collect public assistance, so everybody else pays the tax c) reducing profits, fucking over not just bezos, but also the fixed income crowd and pensioners. sorry grandpa, go back to work! and so, retirees pay the tax. so there, the consumer and the worker and the old people end up paying for the MAGICAL TAX INCREASE on businesses.
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