McCain is officially clueless about the economy

[Echo]

He actually thinks that reducing corporate taxes will cause corporations to hire more workers. Is he insane?

Does he really not know how corporations work? They exist solely to generate money for stockholders. They do not exist to create products, or solutions, or to employ people.

If McCain reduces corporations taxes, they will not hire more people. Why would they? They will just pass the money on to their shareholders. No ordinary working American will see a dime.

I seriously hope this asshat dies before he has a chance to worm his way into the presidency.

[Secret Squirrel]

On the bright side, the execs at said corporations will get bigger bonuses cause they met or exceeded profit goals...and then they can buy more houses...and cars...and blow....and hookers...

I really need to become a CEO of a major corp...mostly for the blow and hookers though.

[r464]

It will come to a point where the poor will have to incorporate themselves to get noticed...

[jimmydean]

It will come to a point where the poor will have to incorporate themselves to get noticed...

poorpeopleinc.com?

Sounds like a business venture to me.

[Secret Squirrel]

poorpeopleinc.com?

Sounds like a business venture to me.

whinoswithpurpose.org

deathofthemiddleclass.net

wheresmysteelreserve.com

thunderbirdwineisthebomb.com

willincorporateforblow.html

[stevew]

I seriously hope this asshat dies before he has a chance to worm his way into the presidency.
As do I.

Thank goodness obama will be giving out more rebate checks if elected.

[X3pilot]

Of course he doesn't know squat about corporations! Who has he worked for his whole life?



Reducing corporate taxes only guarantees that corporations will be paying less tax. That's it, nothing more.

[DirtyDog]

What's even stranger is that so many people will line up behind the Republican party for the ass raping they are dishing out. But at least we'll be with Jesus.

[sanjuro]

He actually thinks that reducing corporate taxes will cause corporations to hire more workers. Is he insane?

Does he really not know how corporations work? They exist solely to generate money for stockholders. They do not exist to create products, or solutions, or to employ people.

If McCain reduces corporations taxes, they will not hire more people. Why would they? They will just pass the money on to their shareholders. No ordinary working American will see a dime.

I seriously hope this asshat dies before he has a chance to worm his way into the presidency.

What about privately owned companies?

[Silver]

What about privately owned companies?

I once worked for a privately owned company that didn't come up with promised bonuses at the end of the quarter because "It wasn't in the budget."

Of course, the same company had in that quarter bought a new SL500 and a $1M vacation home for the privately held owner.

It didn't take a genius to figure out why the bonuses weren't in the budget...

[Westy]

Cut and spend has worked out great for the last 8 years.

In other news Monopoly games will now use real cash as it is cheaper than printing the fake stuff.

[Echo]

i say tax them

this will enable them to layoff the deadwood
"Getting rid of deadwood" hasn't ever been the result of the many layoffs I've seen here. They just cut numbers to make stockholders happy while still barely retaining enough people to keep the business running. If they could lay off everyone they would, regardless of how much tax they pay.

[Echo]

a tax increase makes layoffs a certianly
No... if they could make the business work with less people, they already would have.

[J-Dubs]

CEO salary : Average worker salary = 500:1 in USA

Unfortunately it would take quite a while for tax increases to influence that ratio, but what the hell, it's gonna work faster than the failed method of trickle-down Reaganomics.
At least with the taxes, the gubment has the dough to rebuild infrastructure, pay SS to my folks and plan for healthcare.

But McCain wants to give me $0.18 on the gallon and $18,000,000.00 to big Corps to cure what ailes me and the country. Now that's leadership we can believe in.

[Echo]

why should you care how much a CEO makes?

jealous?
Because they collude with the board of directors (who are mostly CEO's of other companies) to inflate their salaries to pornographic levels, while the company goes broke and the employees all get 1% raises every year. I suppose you don't see a problem with that though.

[Echo]

Or start your own company, appoint yourself ceo, and pay yourself whatever you want.
Tried that :D

Of course I realize you are being an asshole for the fun of it... but pretty much every one of your posts proves how out of touch rich people are with reality.

[jimmydean]

doubtful since i far from rich... and i only know one person who makes a $1.2M annual salary.

What about the billions you made shorting Starbucks? Not to mention the oil reserves you are sitting on.

[RenegadeRick]

doubtful since i far from rich... and i only know one person who makes a $1.2M annual salary.

That means they have a high salary. Nothing more.
The truly rich have WEALTH.

[Secret Squirrel]

I just noticed that this thread was originally posted in the comp and tech forum...

Good show, n00bz0r.

:banghead::busted:

[Changleen]

N8, You are almost certainly well within the 1% of richest people in the world. Probably 0.5%. Most all of us on here are probably within 2%.

However I basically agree with you.

[Echo]

I just noticed that this thread was originally posted in the comp and tech forum...

Good show, n00bz0r.

:banghead::busted:
Alas, even my mod powers were not enough to cover the gaffe :D

[J-Dubs]

N8, You are almost certainly well within the 1% of richest people in the world. Probably 0.5%. Most all of us on here are probably within 2%.

However I basically agree with you.


You agree with exploitation then.

[Changleen]

Of course. Think about that statement for a minute.

Anyone who lives in the first world who claims to have an issue with exploitation and is not some sort of radical hippy can frankly STFU. All you are, own and do is a direct expression of some sort of exploitation. Capitalism itself is fundamentally exploitation of resources, pure and simple.

[stevew]

N8, You are almost certainly well within the 1% of richest people in the world. Probably 0.5%. Most all of us on here are probably within 2%.

However I basically agree with you.
Quoted for history.

[MountainDrew]

Of course. Think about that statement for a minute.

Anyone who lives in the first world who claims to have an issue with exploitation and is not some sort of radical hippy can frankly STFU. All you are, own and do is a direct expression of some sort of exploitation. Capitalism itself is fundamentally exploitation of resources, pure and simple.

Hope you are not talking about us here in the good old USA. We import more than we export. I would not call that living in the first world.

[Secret Squirrel]

Hope you are not talking about us here in the good old USA. We import more than we export. I would not call that living in the first world.

Lay off the weed, broooooooo...

Srsly.

[jimmydean]

Dude, McCain has his finger on the pulse of the economy!

"I don't think it's going much lower, and it could go higher," McCain said on NBC's "Today Show."

[skatetokil]

He actually thinks that reducing corporate taxes will cause corporations to hire more workers. Is he insane?

Does he really not know how corporations work? They exist solely to generate money for stockholders. They do not exist to create products, or solutions, or to employ people.

If McCain reduces corporations taxes, they will not hire more people. Why would they? They will just pass the money on to their shareholders. No ordinary working American will see a dime.

I seriously hope this asshat dies before he has a chance to worm his way into the presidency.

I will agree that McCain is an economic retard, but there is a tiny kernel of logic buried in this turd.

In a given market for goods or services, a tax has the effect of blocking certain economically viable transactions, exchanges where the cost of the inputs is lower than or equal to the price a customer is willing to pay for a product. In other words, people could be getting a service they value on the one hand and employed on the other, but they aren't because of the tax burden. I will agree that this doesn't have much of an effect on existing businesses, but corporate tax rates, and perhaps more importantly, the costs of complying with corporate taxes and regulations will have a dramatic effect on small businesses and startups. These are the businesses that employ most Americans and in which most employees are owners. They represent the ideal of small-scale sustainable capitalism, and our government is trying very hard to kill them.

Another factor in the corporate tax issue has to do with the price elasticity of demand, basically the measure of how bad consumers need a good. If demand is very inelastic, the cost of a tax will tend to fall on the consumer. If it is very elastic, it will tend to be born by corporations and will result in a reduction of profits and possible shut down if they are already operating at the edges of profitability. You have to consider these issues and the competition in the marketplace before you can know where a tax will fall. In general, you can say that some part of cost reductions that cut across several producers will eventually be passed on to consumers through competition, but it is impossible to know how big the change will be.

The much more useful (and probably less controversial) discussion is how to reduce non-tax procedural burdens imposed on business and taxpayers alike. These are compliance costs that result in no revenue to the government and basically amount to forcing people to burn their hard earned money.