Tax the Rich!

@laglen (19782)
United States
March 28, 2011 6:48am CST
And lose jobs. A lot of conservatives have been trying to drill this fact down but Democrats dont seem to want to hear it. Well, the CEO of Caterpillar based in Illinois said that due to the raising of Corporate taxes, they may be moving their operation else where, taking their 23,000 jobs. Its a fact folks whether you like it or not. If states are not business friendly, the businesses will go elsewhere. There are plenty of states trying to get Caterpillar to move. The rise in taxes would cost the company $6.8 BILLION.
2 people like this
9 responses
@matersfish (6311)
• United States
28 Mar 11
A lot of people claim that the more "liberal" policies put in place fail. And while right-wing/conservative/Republican policies sometimes fail as well, the thing about the leftist policies, so it seems, is that everything has to line up in a make-believe world in order for any of them to work. The entire vision has to be realized, or else it's like ramming a square peg into a round hole. For instance: the "tax the rich" slogan hits at business owners. But that's only part of it. The full vision is for business owners to effectively make what they pay their employees, full equality, and for everyone to share in universal healthcare, and for everyone to be guaranteed a job, and for everyone to be guaranteed money. When you stand back and look at the whole thing, imagining if things actually worked like that, you'd have to wonder just who would be "rich" and who would be taxed were business owners to be on the level of employees and should every working individual already be kicking into the pot for everyone else's healthcare. Equal profit-sharing business and universal healthcare does not even begin to pull us out of debt. It doesn't even help to balance the budget. So they'd still be trying to tax more. Just what do these people expect to happen? I'm always feeling like the stupid one, because obviously I cannot see what they can see. And I often ask for it to be explained. Tell it to me like I'm two. I don't mind being talked down to so long as it makes sense. Here's a quick idea: instead of risking private business fleeing and letting go of thousands upon thousands of workers, why don't they simply remove some of the tax breaks they have in place for businesses like GE? Why don't they cut out the loopholes for rich people's property taxes and all the other loopholes they have? Why don't they draw a clear distinction amongst businesses, as in those able to afford tax hikes and those needing breaks to cover their books? If they cleaned up the current system, taxes wouldn't need to be raised. Companies like Catepillar would go unscathed, companies like GE can surely afford it, and we'd all benefit in the end. Instead of fixing the existing problems, cleaning up the rules they already have, government feels as if throwing more rules on top of the old ones will correct the problems. And people vote for these idiots? State, federal, a schmuck on the town council - it doesn't seem to matter. America is packed full of inept policy makers. Greece'll be bailing us out before too long.
1 person likes this
@debrakcarey (19924)
• United States
28 Mar 11
I am for a personal flat tax. Everyone pays the same. This goes for corporations and individuals alike, you pay a percentage, say 20% of your income/profits and that is that. I've read others who back the flat tax, what do you think of it?
1 person likes this
@debrakcarey (19924)
• United States
28 Mar 11
Ron Paul supports the flat tax, doesn't he? I think this issue ought to be paramount in the next election. (if there is one)
1 person likes this
@laglen (19782)
• United States
29 Mar 11
I agree with the flat tax too and yes Ron Paul has been pushing for it. It has recently been proposed by Rep Rob Woodall R Georgia and has been moved to committee. It is the fair tax act and it is 23%. http://www.opencongress.org/bill/112-h25/show
@anniepa (27242)
• United States
31 Mar 11
Actually, that's not true and apparently never was: http://chicagobreakingbusiness.com/2011/03/caterpillar-ceo-no-plans-to-leave-illinois.html The total amount the tax increase will bring in to the state is around $6 billion so it wouldn't cost that one company anywhere near that amount. I have no problem with states being "business friendly" but the way everything has been put on the backs of working middle-class people in recent years is hurting the economy more than anything else. For businesses to flourish they must have customers! Annie
1 person likes this
@laglen (19782)
• United States
31 Mar 11
Thank you for the update Annie, very interesting. But I do know that the states have been inhibiting business for a while. I am in Northern Colorado and our local people are catching hell trying to get businesses here because of state tax laws. Our cities, have to offer obscene tax breaks just to get them here.
@irisheyes (4373)
• United States
30 Mar 11
We need to eliminate tax breaks for companies outsourcing jobs. That's been a major problem all along. People who believe in trickle down economics are in favor of lightening the tax responsiblity of large companies and then those companies take those tax breaks and turn around and outsource the jobs. These companies need to pay some taxes. They are using the resouces of this country and for that they should be taxed but the ones who are outsourcing should not be untaxed. They are still companies with a base in the US. Doesn't caterpillar as a rule set up operating plants in whatever country (or countries) give them large contracts? Aren't they still an American company with a base in this country? Don't they still get the same tax credits for employing foreign labor that they get for employing US citizens?
1 person likes this
@laglen (19782)
• United States
31 Mar 11
I think it is NAFTA that must be changed in this instance.
@bobmnu (8160)
• United States
29 Mar 11
What most people do not understand is that Business PAYS NO TAXES. What ever the government collects from business business passes it along to the consumer as an expense. Politicians know this and that is why the want to tax the business because it does not hurt the business except it makes their product more expensive and they lose market share and have to cut employees because of reduced business.
1 person likes this
@laglen (19782)
• United States
29 Mar 11
That is a good point and one most people dont get. If they think taxing energy will hurt the energy company, it doesnt, it hurts the consumer. Same goes with private business.
@kenzie45230 (3561)
• United States
28 Mar 11
Absolutely. There was another Illinois company moving - to Wisconsin because of more business-friendly taxes that Governor Walker just lowered for them. It's a proven fact that in the years our country has lowered taxes, it has actually increased revenues. And when they've increased them, the revenues have decreased. We now have the highest corporate federal taxes. Then when you add state and county and city taxes that some areas have, it's no wonder businesses are going elsewhere, and sometimes out of the country all together.
1 person likes this
@laglen (19782)
• United States
29 Mar 11
It is bad when it is cheaper to do it overseas, ship it in and pay those taxes instead of employing Americans.
@katsmeow1213 (29047)
• United States
28 Mar 11
If we continue to tax the rich.. what motivation is there for any of us to aspire to become rich?
1 person likes this
@laglen (19782)
• United States
29 Mar 11
great point! why indeed. If I sit on my as5 and can have the same as you after working 20 hour days. Why in the world would I do this?
@murkie (1105)
• Philippines
28 Mar 11
this may be one of the reasons why some corporations establish their production divisions in some asian countries. i am from the philippines. and i am well aware that international corporations are given tax exemptions and other benefits just for setting up shop in here. it seems cheaper to transport parts and products than to pay government taxes.
1 person likes this
@laglen (19782)
• United States
29 Mar 11
You are absolutely right! That is why our businesses go overseas
@dark_joev (3043)
• United States
29 Mar 11
All that is needed is a VAT Tax of 2.5% across the nation not to mention taxing Businesses is completely stupid I mean really they shouldn't tax businesses because the cost of the tax just goes down to the consumer which in this case would be construction companies which is the last industry you want to raise its prices as well we need homes to go down in price not up. It isn't possible to tax a business all they do is raise the price of their products and well Caterpillar would have no issue raising its prices as well it is known to be a very good manufacture of construction equipment.
@Taskr36 (13925)
• United States
29 Mar 11
Since so much in this country is produced overseas a VAT tax would be hard, if not impossible to implement and would really discourage manufacturing in the US while increasing incentives to ship jobs overseas. I would favor something more like the Fair Tax so we could see exactly what it is and know that it wouldn't affect production here at home. Note though, a big part of the Fair Tax is also eliminating income tax. It's a one or the other deal, using both simultaneously would cripple the public.
@dark_joev (3043)
• United States
30 Mar 11
A VAT tax wouldn't encourage or discourage it as if a VAT was in place Income taxes would be gone in this country so only things like Property and the value of the product would be taxed. As for the amount produced oversees that could be added to the system really easily. I for one am just for getting rid of the Income tax and going to either a VAT or a Sales Tax on that is taxing the Transactions for goods and services would be able to make a ton more money in even the short term as the Feds would be making money on transactions between people and businesses, Business to Business transactions for goods and services and could even include online transactions so that they could gain a larger amount of the transactions that are currently being done on the internet. I do agree that we need one or the other both would just increase the tax burden on all people instead of allowing for people to spend the money how they choose. I would love to be able to spend my whole pay check of what I earn instead of having the government steal a good portion of it for themselves to spend like madmen.
@laglen (19782)
• United States
31 Mar 11
I feel safe in saying most people agree that the income tax must go and a fairer tax implemented.
@epicure35 (2822)
• United States
2 Apr 11
It is the aim of Marxism/Socialism/Communism and our current government to destroy capitalism and thus, US sovereignty. Then the masses aka slaves will dependent on the "state" and not God, who gives us liberty and free will.