The Democrat Utopia

[Guy Chamberlin]

7 minutes ago, Archy1221 said:

 

No idea what you are trying to get at.  

 

 

You implied that you were against the bailouts. 

 

Again, I can't tell if you're using "watered-down" as a pejorative, or if you approve a system of government checks and balances to protect taxpayers and investors from the excesses of Capitalism. 

 

Or if you're a purist who thinks several major financial institutions should have been allowed to fail in 2008 according to free market forces. If so, who do you think would have been punished the most by that free-market failure?  

 

 

[Archy1221]

Just now, Guy Chamberlin said:

Again, I can't tell if you're using "watered-down" as a pejorative

Absolute pure capitalism would eat itself in the end in my opinion. 

[Archy1221]

3 minutes ago, Guy Chamberlin said:

If so, who do you think would have been punished the most by that free-market

Picking and choosing winners and losers was something I didn’t agree with, nor did I agree with forcing banks who were not in danger to take bailout money.  
 

I also didn’t agree with not having a forced lending mechanism in a timely fashion for the bailout money since we went down the road of bailouts.  

[teachercd]

30 minutes ago, BigRedBuster said:

Most socialized industry in America.

And it is not even close!

 

Yet, they LOVE TO COMPLAIN...it is like, dude, you are getting paid NOT to farm your land, chill out.

[Ratt Mhule]

7 hours ago, Guy Chamberlin said:

 

You do realize that the "watered down form of capitalism" includes billions of taxpayer dollars aiding corporations, who lobby the same big government to help them out with tax breaks and incentives, international tariffs and copyright protections, not to mention highly profitable government contracts. The most unregulated form of Capitalism s#!t the bed with its derivative bundling addiction, and the American taxpayers -- who lost billions in devalued investments and IRAs -- were also expected to bail the rich guys out.  Interestingly enough, conservatives never call this re-distribution of wealth "socialism."  That's a word reserved for the $15 an hour warehouse worker getting too much unemployment compensation. 

 

I'm sure you can find someone somewhere who thinks everyone should be rewarded the same regardless of effort or circumstances, but that's not what the adults are talking about.

Mic drop

[Guy Chamberlin]

6 hours ago, Archy1221 said:

Absolute pure capitalism would eat itself in the end in my opinion. 

 

Agree. So the less pure and more preferable version allows for government checks and balances to keep Capitalism from eating itself -- and us in the process. 

 

It's what America has had basically forever. Some of us think Capitalism has been opening an excessive gap the past 30 years, and needs a corrective tune-up now more than ever. But as you surely know, even the simplest proposal to return the corporate tax rate to Reagan or even G.W. Bush-era levels gets branded with cries of socialism. 

[Archy1221]

 

[Archy1221]

On 6/16/2021 at 7:38 PM, Guy Chamberlin said:

 

Agree. So the less pure and more preferable version allows for government checks and balances to keep Capitalism from eating itself -- and us in the process. 

 

It's what America has had basically forever. Some of us think Capitalism has been opening an excessive gap the past 30 years, and needs a corrective tune-up now more than ever. But as you surely know, even the simplest proposal to return the corporate tax rate to Reagan or even G.W. Bush-era levels gets branded with cries of socialism. 

Ehhh, some of know Corporate taxes mostly just get passed on to the consumer in the form of higher prices 

[BigRedBuster]

8 minutes ago, Archy1221 said:

Ehhh, some of know Corporate taxes mostly just get passed on to the consumer in the form of higher prices 

Which, should be happing more in some large corporations that don't pay federal income taxes.

[Guy Chamberlin]

1 hour ago, Archy1221 said:

Ehhh, some of know Corporate taxes mostly just get passed on to the consumer in the form of higher prices 

 

Agree. Hope you'll join us in fighting the injustice, comrade. 

[Archy1221]

29 minutes ago, Guy Chamberlin said:

 

Agree. Hope you'll join us in fighting the injustice, comrade. 

What’s the injustice?   Paying lower prices for goods.  

[RedDenver]

1 hour ago, Archy1221 said:

Ehhh, some of know Corporate taxes mostly just get passed on to the consumer in the form of higher prices 

Myth: Any new corporate taxes will just get passed on to consumers

Quote

Often, if taxes are raised (or other costs go up) for businesses, the owners say that they will just raise prices and pass the costs on to their customers.
This claim is often accepted as fact because many people don't know about "elasticity of demand".

 

Elasticity of demand is perhaps the most important basic idea in economics that many people don't know.
It's a little technical, so here's a short version and a long version.

Quote

Short version:

You can only "just raise prices" to whatever you want if you have a monopoly on a necessity.
If you don't have a monopoly on a necessity, any corporate tax increase will be split between an increase in your prices and a drop in your profits.
The balance between the two depends on the elasticity of demand for your product (see long version, below).

 

So the cost of corporate taxes are usually split between the companies and the customers.

 

[BigRedBuster]

10 minutes ago, RedDenver said:

Myth: Any new corporate taxes will just get passed on to consumers

 

Which is not a good thing for a lot of companies.

[Guy Chamberlin]

34 minutes ago, Archy1221 said:

What’s the injustice?   Paying lower prices for goods.  

 

My mistake. I thought you were talking about corporations avoiding taxes through unenforced loopholes, shipping jobs overseas, profiting massively, and asking the middle class to absorb any burdens, costs, and risks for them.  

 

But hey, cheap t-shirts! 

[Archy1221]

59 minutes ago, RedDenver said:

So the cost of corporate taxes are usually split between the companies and the customers.

Ya, like I said earlier. Thanks for googling and giving us the academic explanation.