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Whoa This Economy stinks


Macho Nacho

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I love this. Macho Nacho gets laid off from Applebees after being wrongly accused of spitting into a ladies riblets. Then, the ensuing pages evolve into heady and informative discourse on GDP, military spending, communism, taxation, health care, income distribution, the auto industry, and so on - complete with charts, graphs, and tables.

[:D]

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mdeneen,

A couple of points:

One, corporations have a tremendous incentive to pay out most of their profit each year as there are substantial penalties for retained earnings. These profits are often paid out to the ownership of these corporations and taxed at the individual level.

Two, since the 90's, many businesses have been using an S-corp. or LLC structure, rather than a full-corporation (C-Corp). These types of corporations are generally referred to as, "flow-through entities," or, "pass-through entities," as the profits flow through to the business owners who pay the tax at the individual level. Therefore, these types would be included in the statistics published about corporations paying no tax.

Three, since the corporate tax cut in 2003, the U.S. has had the highest level of corporate tax receipts in over 20 years.

Well then, I guess facts aren't going to change your mind. I think I supported my assertion that the "rate" has little to do with what they pay.

You may want to read my post a bit closer. I said nothing of the "rate." Emboldened to make life easier.

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mdeneen wrote the following post at Sat, Jan 24 2009 10:35 AM

Since you repeated the "it's socialism" claim still again as your central argument, I am going to move on.

No, my central argument was that medicare expansion wasn't the answer. I gave specific experiences that backed up my argument. I just happened to use socialism as a discription of the medicare program which is true. He who pays me employs me indirectly and controls when, where and how I provide services. Medicare already has a large controlling factor over healthcare in this country. Expansion of it is just an expansion of a socialistic program. I don't care if you call it socialism or Fred it is still a bad idea to give government a larger control of the purse strings for medical reimbursements. (or almost any other goods or services) The more government takes over the more it squeezes out private enterprises. All of this is done under the pretense of a greater good for all. Well there can be a big argument on whether there is actually a greater good for all. (reference my statement about pharmacies closing in southern Ill. The people in those small towns are not receiving a greater or better pharmacy care)

My reference about failing was the failing of socialism as in USSR, and eastern Europe not medicare. Even though medicare is failing in funding which no politician will touch. Also several of my examples show how medicare is failing in providing a resonable standard of healthcare for it's recipients. But lets not look at its failings, lets just say everything is good and great, take more of everyones tax dollars to waste on bureaucrat BS and expanded it. The only people that gain in this scenario are politicians that can get re-elected by saying they are compassionate and the people who receive government jobs for the expansion of the administration of the program.

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mdeneen-dkp

In reality corporations don't pay any taxes, all of the taxes are passed through to the consumer. Taxes are an expense item. When you calculate the cost to provide goods or services the taxes are an expense added in. So the corporation calculates the price point at which it can make a profit which is higher due to the expense of taxes. If the consumer will not pay the higher price for the goods or services the corporation can not make a profit and will go out of buisness. So by having corporate taxes is just another means by which the government can get their hand in the individual consumers pocket. Corporate taxes also put US manufacturing at a disadvantage to manufacturing outside the US borders. So to be a good buisness man I move my manufacturing out of this country/state to decrease expenses and provide the same goods and services at a lower price point. So by having high corporate taxes you discourage the expansion of buisnesses jobs and economy. It doesn't matter how what or why you tax anything in this country it eventually filters down to the individual paying it.

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Got laid off from Applebees last night. Business has been real slow and some lady claimed I spit on her riblets. Its tough times here. Actually I hated the job, was living with a friend as Alamogordo was too far anyway, it was killing my Ford Fiesta. Times are tough. Anyone else loose their job?

Yep, our firm just laid off 10% of our staff. Most (8%) were non-productive dead weight, but the rest were good people. Some of our clients fell way behind on their payments, who in-turn were not getting paid by their clients. Domino affect.

The big cheese says he does not anticipate anymore layoffs, yada yadda yaddda, I'm not hangin around anyway. Got the house up for sale, and already found a new home in San Antonio, TX. Just a matter of time now......

Good luck nacho, and please don't hock-up a loogey on my riblets.... LMFAO..... thanks, I needed that.

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I love this. Macho Nacho gets laid off from Applebees after being wrongly accused of spitting into a ladies riblets. Then, the ensuing pages evolve into heady and informative discourse on GDP, military spending, communism, taxation, health care, income distribution, the auto industry, and so on - complete with charts, graphs, and tables.

Big Smile

Man! That's why I love this place. Thanks sheep boy..... [;)]

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I can agree with Mark (mdeneen) more than most that have posted here. Heck, if he lived in my state I'd support him filling Hillary's seat as senator. Many here seem to prefer not helping your fellow men at all and returning to the days of a two class system, the filthy rich and the down and out poor. Flat tax would get us there faster too. I wish many on here could return to the early 20th century to see how things used to be before government programs, minimum wage, social security, and the 8 hour work day. Was the government wrong for stepping in then? Should the government leave everything as is indefinitely? Is that progress? Our ancestors did much to improve quality of life and create a fair and safe workplace, yet it seems so many are determined to tear it all down.

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Here's a new song by Neil Young that seems pretty relevant to this discussion. It's called Fork in the Road, and makes a few references to the "bailouts" and who will get them. Just to add interest, near the end of the video, he stands up and you can see that he's wearing a t-shirt marked Tube Amp Repair.

http://video.msn.com/video.aspx?mkt=en-ca&brand=sympatico&tab=m1193686440363&vid=1836cdfe-f95b-41dc-a9a8-3d1485716c6b&playlist=videoByTag:tag:encamusic_encavideos:ns:MSNVideo_Top_Cat:mk:en-ca:sf:DailyCount:st:1:vs:0&from=msnhpquad,ENCAmusic_ENCAvideos

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I can agree with Mark (mdeneen) more than most that have posted here. Heck, if he lived in my state I'd support him filling Hillary's seat as senator. Many here seem to prefer not helping your fellow men at all and returning to the days of a two class system, the filthy rich and the down and out poor. Flat tax would get us there faster too. I wish many on here could return to the early 20th century to see how things used to be before government programs, minimum wage, social security, and the 8 hour work day. Was the government wrong for stepping in then? Should the government leave everything as is indefinitely? Is that progress? Our ancestors did much to improve quality of life and create a fair and safe workplace, yet it seems so many are determined to tear it all down.

Thank you sir. Nice to know I am not the lone ranger.

You most certainly are NOT alone regarding these matters. I've pretty much given up on posting here regarding such subjects (it's like spitting into the wind around here), but your thoroughly reasoned and explained positions absolutely ring true here. A voice of sanity in the wilderness....

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Make that four. I can't equal your knowledge and analytic depth on a broad range of subject matter. I only chime in if I have something to add or have the unusual different take from yours, as in medical care public funding issues. However, when you take your occasional break, I'm more like to post my views on my more limited subject areas. I rarely disagree with you, and especially appreciate your lucid, telling, no-holds-barred rebuttals.

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