Joe Perez

iTrader: (8)

triple88a

iTrader: (2)

11.2 billion in profits, 0 in taxes.. teach me the ways guys.. how is this possible?

https://finance.yahoo.com/news/amazo...180337770.html

Braineack

iTrader: (62)

corporatism.

taxes are punishment.

Braineack

iTrader: (62)

Pack hunters push robberies up 53 percent in downtown Minneapolis | City Pages


weird coincidence this is the district that has her as a representative:

https://en.wikipedia.org/wiki/Ilhan_Omar


It's almost like the reason she's so against guns is so her voters can more easily rob and attack whitey...

Braineack

iTrader: (62)

Braineack

iTrader: (62)

gotta get dat narrative.

https://www.nbcnews.com/news/us-news...ekcD3xSfRVAkfM

Full_Tilt_Boogie

iTrader: (1)

Dishing out the Shapiro treatment to a 9 year old kid

Braineack

iTrader: (62)

and then the four-wheelers clapped.

good2go

iTrader: (2)

I'd rather like to know how it is possible that they were charged 91.7% effective tax rate on their 2014 earnings.

Full_Tilt_Boogie

iTrader: (1)

Joe Perez

iTrader: (8)

I'd like to know why some people think it's a good idea to penalize companies for hiring employees and paying them.


CHICAGO ALDERMEN PROPOSE $33 PER EMPLOYEE ‘HEAD TAX’ ON CITY EMPLOYERS

At a time when businesses are fleeing the state, a group of Chicago aldermen are attempting to revive the employer’s expense tax to bail out Chicago Public Schools.

Chicago aldermen introduced a proposal April 19 to charge employers $33 for each employee on staff to drum up revenue for the Chicago Public Schools, or CPS, budget shortfall.

Eighteen aldermen signed on to legislation that would introduce the “head tax” to Chicago employers with 50 or more employees. However, employees who reside in one of approximately 30 neighborhoods would not be subject to the tax. These neighborhoods were chosen based on being in the top 20 in violent crime or the top 20 in hardship index.

Rahm killed Chicago’s ‘head tax’ in 2014

Chicago had a head tax from 1973-2012 until Mayor Rahm Emanuel phased out – and ultimately ended – this job-killing tax. The employer’s expense tax was a $4 per employee tax levied on employers of more than 50 full-time workers in the city of Chicago. Mayor Emanuel made it a centerpiece of his election in 2011 to eliminate the head tax entirely. By 2012, the tax was reduced to $2 per employee, and the tax was completely repealed by 2014. The tax applied to companies with 50 or more employees.

“The head tax is a job killer,” Emanuel said in 2011. “Eliminating the head tax is the right thing to do for businesses big and small and it’s the right thing to do to secure Chicago’s future. With this step, Chicago has become an even better place to start a business and we’ve enabled those businesses to create more jobs for Chicagoans.”

In July 2016, aldermen introduced a new version of the head tax that mirrored much of the tax repealed in 2014 with the fee instead being $16 per employee per month. This proposal has failed to be discharged from committee.

Yet, aldermen led by Ald. Carlos Ramirez-Rosa, 35th Ward, want to undo those reforms in order to pour more money into the failing CPS system. CPS is facing a nearly $130 million shortfall, down from $500 million after administrative cuts. Additionally, CPS must pay $720 million toward teacher pensions by the end of June.

“It is an embarrassment that there is not enough money to keep the lights on,” Ramirez-Rosa told DNAinfo.

However, rather than enacting reforms to bring CPS’ financial house in order, aldermen seek to extract more money from an already overburdened tax base. Chicago has been enacting a variety of new taxes over the past two years to add to that burden. Requirements on businesses to provide mandatory paid sick leave and to increase the minimum wage to $13 an hour in addition to the bevy of taxes adds up to an unfriendly business environment. As Chicago officials continue to increase taxes on residents and businesses, they are effectively testing to see which straw will break the proverbial camel’s back.

https://www.illinoispolicy.org/illin...nt-rate-drops/

Full_Tilt_Boogie

iTrader: (1)

What an illogical way to tax businesses.

Ive got an idea. Tax businesses 1 cent for every post-it note they use. Revenue goes to fund police and correctional facilities.

Joe Perez

iTrader: (8)

Most ways in which businesses are taxed are illogical. Businesses are the engines which create value. Value-creation is what improves the standard of living, and provides wages to workers that they get to be taxed on, so that they can spend that to buy things which they are taxed on again, and in some cases then pay annually recurring taxes on those things for as long as they own them.

z31maniac

I don't remember if I've said this yet or not and I'm too lazy to look, but corporations shouldn't be taxed to begin with.

You know why? Because they don't actually pay any tax. They pass the cost of the tax down to the consumer through higher prices on their goods or services. Or do you think if we suddenly enacted X tax on Y business, the costs of the goods/services wouldn't rise proportionally to pay for the aforementioned tax?

bahurd

iTrader: (8)

Do you think those corporations that pay zero tax now magically reduce prices xx% to the customer (whomever it may be)? We all should pay the same rate of tax on earned money and all have the same “deductions” on earned money. In my humble opinion...

After all, corporations are people right?

z31maniac

Of course they don't. Just like when a company moves production off shores, or uses a fake address in Ireland or the Grand Caymans to shield itself from tax implications, it uses it to enrich the top brass because they increased the stock dividend from $0.81 cents per share to $0.83 cents per share.


And no, I don't agree with corporations being people. But when it comes to money in politics, it doesn't really matter. All the big donors use Super PACs because they don't have contribution limits, so the campaigns still get the same money, it's just washed to look like something it isn't. If anyone actually believes that Super PACs don't coordinate and develop strategy with the candidate............I have some land under the Brooklyn Bridge to sell you.

Full_Tilt_Boogie

iTrader: (1)

Thats is not necessarily true. Optimal price is going to be dictated by the price elasticity of demand of a particular product. Regardless of costs, taxes, etc. there is going to be an ideal price to set something at. Raising the price because your taxes went up just means youre going to sell less. Not smart.

It can go a few ways.
Some industries will just be less profitable. Nothing really changes. Government gets the revenue. Typical Keynesian model of taxation.
In a global market the companies that cant afford the tax hike would just be uncompetitive. They go out of business, price doesnt charge. Jobs are lost here. China makes more money.
If its a niche product the companies cant afford to pay the tax would have to raise prices. Depending on the price elasticity, demand could fall, the companies have to downsize. Jobs are lost.
Finally, if its a irreplaceable commodity, you do get a pretty good relationship between taxes and prices. There are many products that are so competitive that you get this perfect communication.

But the point is, its complicated. Some times the consumers are screwed, sometimes a lot of times the workers get screwed, other we just get new roads and society works pretty okay.

bahurd

iTrader: (8)

^ Well explained.

In the days of closed borders and protectionism companies used the cost basis + profit as the way to set prices. In a global environment you look at the projected selling price, determine the costs that go into it and decide if you can live with the projected margins. If not the product gets shelved ?

Braineack

iTrader: (62)

Lol at thinking Trump will lose 2020. Plus liberals will turn 12yo girls into child-bearing vessels -- so abortions wont be needed.

Braineack

iTrader: (62)