Fox News guest: AOC does the 'Latina thing'

[Economy 53,076]

3 hours ago, PhillipBagshaw said:

This sounds like a good plan on the surface, but what are we going to do with the corporations that send all of their jobs overseas? Are we going to tax the hell out of them for that when they're ignoring the people that now need jobs in their own country? Are we going to make sure racial biases aren't at play when hiring all these new workers that now need jobs because their welfare is cut? I don't want to see a country where companies shift all their jobs overseas and don't get punished for it, people don't get jobs because of their race (among other factors), and their social assistance is cut. I would be all for this if we were going to tax the pants off of corporations that have almost all of their workforce overseas. I say only 20% can be coming from oversea-workers. When their workers are in the US, don't give them a reward for doing the right thing, either. 

What ur describing is actually happening less and less. As automation keeps reducing the need for labor (and as higher wages are starting to come into fruitarian in developing countries like China) companies have less incentive to move now. Especially when you add transportation costs... The savings on labor are no longer enough to sway many companies to move

 

In fact last year I think there was almost as many companies moving to the US as moving out if I'm not mistaken but you can double check that

 

Anyway back to taxes... It's better to tax individuals not the companies or Corporations

 

Average citizens have stakes in Corporations too (that's how people's retirement funds grow) and some also invest directly in their stocks so middle class ppl also get affected if their profits drop

 

Also since they are a business they won't be satisfied breaking even so if taxes go up, likely that higher cost will get passed on to consumers so it ends up being a tax on middle class just the same

 

Also Business taxes are a factor in global competitiveness

 

So if u want more money out of the rich, focus on income taxes and capital gains taxes above a certain threshold. That's how u target them specifically without affecting the economy as much

 

U never want to tax the Corporations themselves high. The old rates during Obama's term were way too high and uncompetitive Globally

 

Trumps tax cuts may seem huge yet it's still only 1% below Canada's (26% in USA, 27% in Canada). That's the average effective tax rate Counting Federal plus State/Provincial taxes