Author Topic: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.  (Read 237 times)

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Offline Texacon

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https://www.democraticunderground.com/100215849326


Uh oh.


Quote
WarGamer
Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.

This is going to take a few minutes here. Please read it all and wait to pass judgement.

Summary:

You're squeezing money out of the wrong people, primarily the consumer, the employee and the shareholder.

A link from Harvard Business Review for those who don't believe me:

https://hbr.org/2014/08/who-pays-corporate-taxes-possibly-you

Ok... in my own words.

So Apple taxes are going up... that means that rich bastard Mr. Apple will whip out his checkbook and write a big check to the US Treasury, right?

Oh wait. There IS NO Mr. Apple.

You see... Apple is a Corporation. That means that it's a business that is quite literally cut up into 16.7 Billion little pieces called SHARES.

Each of those shares is worth around $148 as of today.

But WHO owns those shares you ask... some rich bastard right?

Chairman of the board Art Levinson does indeed own 4.6 million shares of Apple. Tim Cook owns 830k shares. And the COO Jeff Williams owns 490k shares.

But wait, WG... you said Apple is split into 17 BILLION shares, right??

Well... Vanguard owns 1.3 BILLION shares of Apple.

Oh wow, Vanguard! Isn't that the same company that runs my company's 401k and investment accounts? Yes sir.

BlackRock, Berkshire Hathaway... etc

But wait, there's more. CALPRS the largest California State pension fund holds more than $4.5B of Apple stock. CALPRS pays the retirement benefits of retired firefighters, school teachers and cops...



So bottom line it. Who pays increased Corporate Taxes?

Remember how I said Art Levinson owned 4.5 million shares of Apple? Art doesn't give a shit if Apple's Corporate Tax Rate goes up. In fact, he PREFERS it compared to the alternative.

Corporations have a fiduciary responsibility to the shareholders. They will adjust their business plan and operations to maintain a level of profitability. 17 billion shares of the stock are relying on that value to be preserved and expect it to go UP.

Remember how Taiwan Semiconductors just announced a 10-20% increase in chip pricing? What will Apple do? Will they eat the price increase of the chips and reduce profitability? Or will they increase pricing on products or cut labor costs or reduce infrastructure costs?

One thing they sure as **** WON'T do is eat the cost.

Corporate Taxes? It's just another business expense. No different than the cost of chips, Gorilla glass or Chinese labor.

There are 3 alternatives for Corporate tax increases:

1) Consumers pay more for products, aka consumers pay increased Corporate Taxation.

2) Apple reduces the workforce or cuts back salary to compensate, aka employees pay the tax.

3) Apple allows the profitability to drop, lowering the value, aka the stock price... hurting investors including school teachers and firefighters.

Back to Art Levinson...

He doesn't give a shit.

iPhone prices will go up, the cost of AppleTV will go up and maybe iCloud will become more expensive but HIS shares will continue to appreciate and he pays SHIT in taxes.

Corporate Taxation is a cowards move. We need to go and get the money where the money IS.

Wealth Tax, NOW. Per-Transaction Wall Street fees, tax all Capital gains as regular income, 50%+ top marginal rates, etc etc... you should NOT be able to make $50K in an afternoon on the golf course while the stock market is up and pay 15% tax rate...

What are politicians afraid of?

And making the $5M+/yr pay more taxes?? So the guy making $4M/yr is fairly taxed? Wtf????


Enjoy.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

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Online DLR Pyro

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they are finally catching on that corporations do not pay taxes....
Biden is an illegitimate President.  Change my mind.

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ProudDad Donating Member (1000+ posts) Wed Mar-09-11 08:50 PM
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Offline Zathras

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Umm, DUmbass? Corporate taxes are just another cost of doing business and are countered by raising the price of goods that are sold by the company. Always has been this way. Always will be this way.
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Offline SVPete

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OK, maybe I'm not current with Prog-slang ... what is a coup-out?
ADAB

Facts don't matter to DUpipo

SVPete, aka PeteS in CA, aka Traddles

Offline Texacon

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OK, maybe I'm not current with Prog-slang ... what is a coup-out?


LOL

A misspelling by one of the smartest people in the internet because they’ve typed ’coup’ on their phone so many times it’s autocorrecting cop out.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

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Offline Texacon

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Quote
Demsrule86
24. I completely disagree with you. In a year that GM paid no taxes, they have eliminated and moved
thousands of jobs overseas. They give nothing back and need to pay their fair share. Ford shut down a plant in Cleveland, GM shut down Lordstown GM, and another will shut down within the year. And there are more.


So… you think increasing taxes on them would stop that?

So… you don’t consider all the regulations they’re required to follow in this country taxes?

So… you don’t think the union has any responsibility?

Just a few thoughts as to why they be moving overseas. Not to mention the taxes.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

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Online DLR Pyro

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When DUmmies talk about going after the rich for taxes they only envision Donald Trump in their wet dream to soak the rich.
Biden is an illegitimate President.  Change my mind.

Police lives matter.

Basking in the glow of my white privilege

ProudDad Donating Member (1000+ posts) Wed Mar-09-11 08:50 PM
64.I'd almost be willing to get a job in order to participate in
A NATIONAL GENERAL STRIKE
  https://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4763020

Offline DefiantSix

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When DUmmies talk about going after the rich for taxes they only envision Donald Trump in their wet dream to soak the rich.

Even in their wet dreams they're impotent.
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Offline ADsOutburst

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OK, maybe I'm not current with Prog-slang ... what is a coup-out?

From the DU department of malapropisms, who gave us the famous "fist-to-cuffs", we bring you... the coup out.

Offline BamaMoose

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Usually when they discuss the violent overthrow of the government they spell it "coupe", so this is actually an improvement in their language skills.

Offline thundley4

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Re: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.
« Reply #10 on: September 13, 2021, 04:49:46 PM »
Quote
Demsrule86
24. I completely disagree with you. In a year that GM paid no taxes, they have eliminated and moved
thousands of jobs overseas. They give nothing back and need to pay their fair share. Ford shut down a plant in Cleveland, GM shut down Lordstown GM, and another will shut down within the year. And there are more.

Most of those have occurred after Pedo Joe took office or at least after the Generally Fraudulent Election of 2020.

Dummies want a higher minimum wage, but where does that extra money to pay it come from? Higher prices. The same goes for higher taxes.

Offline Ralph Wiggum

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Re: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.
« Reply #11 on: September 13, 2021, 06:10:03 PM »
From the DU department of malapropisms, who gave us the famous "fist-to-cuffs", we bring you... the coup out.

Never forget "Marshall Law".
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Offline Ralph Wiggum

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Re: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.
« Reply #12 on: September 13, 2021, 06:17:46 PM »
Here's a quick primer for the economic dolts on the left and the media (but I repeat myself).

Corporations are designed to generate revenue, and yes a profit.  However, the actual bottom line goal is to end up the year end at exactly zero.  Any actual net income is normally distributed to stockholders or partners via various legal methods for those who have spent billions and millions of dollars investing in the corporation.  These are via dividends, etc.  Nothing even fishy about that in the slightest.

It is the silliest and laziest canard to claim that a 15 billion/trillion dollar company doesn't pay income taxes.  They pay tons of money in local/state and federal taxes for payroll and other various transactions that trigger a taxable event.  Just because their total revenue is XX billion dollars yet their bottom line showed a loss or minimal gain and paid no INCOME taxes as a corporation means that they have great and smart accountants and financial managers to get that number to zero.

It really bothers me that economic dunces just spout this simplistic nonsense.... :banghead: :banghead: :banghead:
Voted hottest "chick" at CU - My hotness transcends gender


Offline ADsOutburst

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Re: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.
« Reply #13 on: September 13, 2021, 06:26:54 PM »
Never forget "Marshall Law".

I mau have encountered "coup de gras" in a DU post. Or was it HFboards? I don't remember.

Offline SSG Snuggle Bunny

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Re: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.
« Reply #14 on: September 13, 2021, 06:48:54 PM »
From the DU department of malapropisms, who gave us the famous "fist-to-cuffs", we bring you... the coup out.

Oh, for ****s face!
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Offline Texacon

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Re: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.
« Reply #15 on: September 13, 2021, 09:28:51 PM »
Here's a quick primer for the economic dolts on the left and the media (but I repeat myself).

Corporations are designed to generate revenue, and yes a profit.  However, the actual bottom line goal is to end up the year end at exactly zero.  Any actual net income is normally distributed to stockholders or partners via various legal methods for those who have spent billions and millions of dollars investing in the corporation.  These are via dividends, etc.  Nothing even fishy about that in the slightest.

It is the silliest and laziest canard to claim that a 15 billion/trillion dollar company doesn't pay income taxes.  They pay tons of money in local/state and federal taxes for payroll and other various transactions that trigger a taxable event.  Just because their total revenue is XX billion dollars yet their bottom line showed a loss or minimal gain and paid no INCOME taxes as a corporation means that they have great and smart accountants and financial managers to get that number to zero.

It really bothers me that economic dunces just spout this simplistic nonsense.... :banghead: :banghead: :banghead:


^5!

Perhaps the DUmmies will come to be enlightened.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

*Stolen

Offline ADsOutburst

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Re: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.
« Reply #16 on: September 13, 2021, 10:14:51 PM »
Quote
What are politicians afraid of?

I missed this, but it's a doozy. Yeah, um, it's not hard to understand why politicians aren't lining up to tell their wealthy donors they're going to tax their wealth.

Offline Texacon

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Re: Hear me out... Corporate Tax Increases are a coup-out vs taxing the wealthy.
« Reply #17 on: September 14, 2021, 12:00:09 AM »
I missed this, but it's a doozy. Yeah, um, it's not hard to understand why politicians aren't lining up to tell their wealthy donors they're going to tax their wealth.


Both sides.

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

*Stolen