Ben Stein Calls For Higher Taxes

Jump to Last Post 1-3 of 3 discussions (26 posts)
  1. profile image0
    Sooner28posted 11 years ago

    http://gawker.com/5953010/ben-stein-tel … o-damn-low

    The Simpson/Bowles commission also calls for a mix of spending cuts and higher taxes to tackle the deficit.

    Whether you agree with the methods of what is cut and exactly what line taxes should be raised, there is no denying people on the right and left are both calling for higher taxes.

    1. tammybarnette profile image59
      tammybarnetteposted 11 years agoin reply to this

      I read a report the other day from the CBO, the gist was we cut and tax now and risk a downturn, or we wait and depending on how long we wait we could be in real trouble(Greece)..I thought, off the top of my head, why not give gentle relief and cuts along the way, be straight up about that with the American people, and when the economy rebounds add a little more, etc....I would rather suffer a little now and know there will be a tomorrow, but that's just my two cents? (mispelled purposefully,lol)

    2. Ralph Deeds profile image67
      Ralph Deedsposted 11 years agoin reply to this

      Ben Stein is correct once in a while. I had dealings with his father, Herb Stein, when he was research director of the C.E.D. (Committee for Economic Development, a non-partisan public policy think tank supported by major U.S. corporations). He later became chairman of Nixon's Council of Economic Advisers and affiliated with the American Enterprise Institute.

      CED http://en.wikipedia.org/wiki/Committee_ … evelopment

  2. profile image0
    JaxsonRaineposted 11 years ago

    Or...

    We could get 15 million more Americans working, which would raise revenues.

    1. profile image0
      Sooner28posted 11 years agoin reply to this

      Economic growth will increase revenues.  There is no question about that.  If the economy recovers, and absolutely NOTHING changes (no new spending, tax increases or decrease), the deficit will be dealt with just by the stronger economy over time.

      Taxes give a base to exactly how much can be collected though.  Even if your economic growth is incredible, a 5% tax on all income being the highest will starve the government of revenue.

      1. profile image0
        JaxsonRaineposted 11 years agoin reply to this

        And a higher tax will starve the economy of growth.

        Raising taxes is not the solution.

        Corporate taxes need to come DOWN. We aren't competitive. Not even close.

        Personal taxes need to come DOWN. Millions of businesses pay at the personal rates, and the 35% tax rate for those businesses starts at just $388,000. It's ridiculous. You have all these businesses paying 35%, where in other countries they can pay 25%, 20%, 15%, or less.

        Most importantly, we have to invite multinational companies to invest in America. It's such a simple concept, there is no reason not to do it. Why do we want to tell people 'Well, if you want to bring that money your business made in Germany, and invest it here... We're going to have to take 10, 15, 20% of it away from you first. Of course, you can just invest it all in Germany and we won't take anything!'

        1. profile image0
          Sooner28posted 11 years agoin reply to this

          Our affective corporate tax rate is the second lowest in the world.

          http://www.cbsnews.com/8301-505123_162- … the-world/

          http://www.cbpp.org/cms/index.cfm?fa=view&id=3806  Approximately 2.5% of small businesses file under the personal income level, and many of those "businesses" are not so small figures.

          If the final paragraph is defending a territorial tax system, that is sure to cost American jobs.  If I can make profits overseas and not pay any taxes on it at all, or I can make profits here and pay taxes on it, which one am I gonna do?

          1. profile image0
            JaxsonRaineposted 11 years agoin reply to this

            Ugh. No. No. No. No no no no no no no no no no no no no no no no no.

            That is the stupidest yardstick I have ever seen. Did you know our corporate tax rate, compared to mangoes produced, is the lowest in the world?

            Taxes as a percentage of GDP is a horrible, ridiculous, illogical way to look at taxes. It doesn't even look at the actual tax rates corporations pay.

            Our corporations pay, on average, 29% of all their pre-tax profits. The OECD average is 20%. That is the ONLY way to look at tax rates. You have to look at TAX RATES.

            2.5% of businesses is still a lot of businesses, and directly would affect a lot of employees.

            Lastly, no. Almost every other developed nation has a territorial tax system, and they haven't lost all of their jobs. It is estimated that $1.4 TRILLION dollars every year are held out of the economy because of our tax system. That money would be invested in America... that's almost 10% GDP growth.

            We PUNISH multinational companies, not for being multinational, but solely for the act of bringing the profits they are making overseas anyway, into America.

            1. profile image0
              Sooner28posted 11 years agoin reply to this

              GPD is used as a measure because, "Some economists argue that tax collection relative to gross domestic product is the more relevant measure. That's because different accounting rules around the world mean what's counted as income in one country isn't counted in another, making comparisons of tax rates misleading."

              We are also still below the average in terms of ACTUAL rates also.  http://money.cnn.com/2012/03/27/pf/taxe … /index.htm

              The multinational companies aren't being punished.  They could not have built their businesses and have the strong base they do without living in a country like the United States, with a stable government and infrastructure.  No cheap labor in countries without strong governments if you don't have a stable business base.

              http://businessfinancemag.com/article/t … -jobs-0717

              http://www.americanprogressaction.org/i … -u-s-jobs/

              1. profile image0
                JaxsonRaineposted 11 years agoin reply to this

                We could tax corporations at 100%, and still not have as high of a %of GDP as some countries.

                It's irrelevant. It doesn't tell you a thing about what they actually pay.

                Ok... if you really think it's a good idea to say 'Invest in that country for free, we're going to charge you to invest here'...

                1. profile image0
                  Sooner28posted 11 years agoin reply to this

                  I also cited the CNN article showing our corporate tax rates, not as a % of GDP, are still below average.

                  1. profile image0
                    JaxsonRaineposted 11 years agoin reply to this

                    Uh... no.

                    We have the highest marginal rate.

                    When you look at effective rates, we also have the highest. The little line in your article isn't comparing to the effective tax rates for the OECD. We average 29%, the OECD averages 20%(not 31% as the article states).

              2. profile image0
                JaxsonRaineposted 11 years agoin reply to this

                Do you know what that sounds like?

                It sounds like saying "We are desperate for jobs, for investment in our country, but we want you to PAY for the PRIVILEGE of being part of the American economy".

                1. Josak profile image60
                  Josakposted 11 years agoin reply to this

                  And that is absolutely correct, Corporate profit margins are at an all time high, the US has the biggest consumer base in the world with a struggling underclass if people want to participate in the best market place for corporations in the world than they should pay for it and we can use that payment to help those struggling. Don't give me the victimized corporation spiel because it's completely untrue Sooner's GDP measure is a good scale and the profit margins show very clearly that corporations are not being overtaxed there is no better market for a corporation to be in.


                  http://s3.hubimg.com/u/7282014_f248.jpg


                  http://s2.hubimg.com/u/7282017_f248.jpg

                2. profile image0
                  Sooner28posted 11 years agoin reply to this

                  If every country should be responsible for their own well being to the utmost extent possible (which is a widely held assumption), and the only reason these companies even have the possibility to exist is because the United States is a stable, relatively educated society with many overconsumers, their profits overseas that could not have been built without starting in the United States should not be tax free.  Workers, police, courts, and infrastructure are not provided by the corporation. 

                  Some of their profits can then go to providing educational opportunities for future workers, who will then provide the technical skill and tenacity that doesn't exist anywhere else (at least for now).  If trends continue going the way they are now, the lower skilled jobs will naturally go overseas, and the ones requiring more education will end up being taken by Americans (unless we continue our trek of favoring missiles over people).

                  Are we supposed to look at a corporation as some kind of abstract entity that is borderless and should have a race to the bottom in determining where to do business?   Is there no sense of obligation to the communities they live in to help those who are less fortunate?

                  1. profile image0
                    JaxsonRaineposted 11 years agoin reply to this

                    Listen. All business expenses are passed onto the consumer anyway. Increasing taxes is really increasing the cost of the goods or services.

                    This is exactly why we shouldn't even have corporate tax rates. All taxes are paid by the consumer, so all taxes should be based on consumption. That way, corporations would have no obstacle, tax-wise, to come into America, and invest in America.

                    I'm sorry Sooner, you are simply ignoring reality. 23 million unemployed or underemployed... we should be doing EVERYTHING we can to attract jobs. It would be better to eliminate corporate taxes(which only pay something like 8% of our spending), and get Americans employed again. As the economy improves, then increase some taxes(corporate or consumption) gradually.

      2. Repairguy47 profile image60
        Repairguy47posted 11 years agoin reply to this

        Joe Biden said it wouldn't work, he said it didn't work under Kennedy or Reagan. If crazy Joe says it you have to believe it.

        Binders

    2. Ralph Deeds profile image67
      Ralph Deedsposted 11 years agoin reply to this

      They will have to emigrate to China where the jobs are if Romney is elected.

      1. profile image0
        JaxsonRaineposted 11 years agoin reply to this

        Oh yeah, because Romney has the crazy plan of making it easier and cheaper to do business in America... fancy that.

  3. profile image0
    JaxsonRaineposted 11 years ago

    ... ok.

    So, we are desperate for jobs, but we want to make corporations pay more to create jobs here than they need to pay to create jobs in other countries.

    If your business was struggling, and let's assume you make the best version of the product you sell, would you send out ads to all your regular customers and say 'We really need to move some inventory, but we don't want to lower prices, because you need to PAY for the PRIVILEGE of buying our products'?

    Or... would you try to ATTRACT customers?

    I just... I can't... oh well.

    1. Josak profile image60
      Josakposted 11 years agoin reply to this

      Again ignoring the facts, if companies do not want to invest in America it's not because we have a high tax rate we have the second lowest in the world and it is not because it won't be profitable because the facts show very clearly IT'S MORE PROFITABLE THAN EVER BEFORE AND GETTING EVEN BETTER EVERY DAY now if we have the best profit margins IN AMERICAN HISTORY, the second lowest effective tax rate in the world and the biggest consumer base in the world and you still think that corporations aren't investing in America because of the taxes then your view is completely out of sync with all the facts the main reason corporations are not investing here at the moment is because we just had a GLOBAL financial crisis and investment money is hard to find.

      The facts speak for themselves.

      You can't attract money that doesn't exist all you will accomplish is reducing the amount of money raised by taxation, market confidence is rising steadily and once it gets good enough investors will start investing in THE MOST PROFITABLE MARKET IN THE WORLD AT THE MOST PROFITABLE TIME IN IT'S HISTORY.

      P.S. I don't know how to bold text on this so I capitalized.

      1. profile image0
        JaxsonRaineposted 11 years agoin reply to this

        We DO NOT have the second lowest tax rate in the world.

        That taxes/GDP figure means NOTHING.

        If you start a business in America, you're going to pay an effective rate between 29-39%. If you invest elsewhere in the OECD, you're going to pay a rate between 15-25%.

        That rate means NOTHING to a business. The only figure that means ANYTHING is the ACTUAL EFFECTIVE RATE THEY WILL PAY, and the US ranks #1 for that.

        Again, we could tax 100% of corporate profits, and still not be listed #1 by your measure. Do you understand now how it doesn't mean anything?

        If you can't accept that, there is no point in continuing. You go ahead and use your measure, which ignores the tax rates that corporations actually pay... how in the world you think it is more relevant than the effective tax rates...

        1. Josak profile image60
          Josakposted 11 years agoin reply to this

          If you want to dismiss the effective tax rate ranked as a valid method by a wide array of institutions including the CRS then fine the point does not really revolve around it, even looking at the actually paid rates the US ranks below countries like the UK, Japan and Canada. (page 5 figure 2)

          http://www.treasury.gov/resource-center … 2-2012.pdf

          The point is as noted Corporations have never had profit margins this good in American history there has never ever been more financial incentive to invest in the US and yet it isn't happening which to someone who stops to think for half a second would suggest another cause which is simply after the crash investment money is scarce. I SAY AGAIN THERE HAS NEVER BEEN MORE FINANCIAL INCENTIVE TO INVEST IN THE US, IT HAS NEVER EVER BEEN MORE PROFITABLE AND THAT IS EXPECTED TO CONTINUE IMPROVING.

          Think about it.

      2. profile image0
        Sooner28posted 11 years agoin reply to this

        hi   

        You use [b]text then use the same b with a slash at the beginning.

        1. Josak profile image60
          Josakposted 11 years agoin reply to this

          Oh thanks smile

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
ClickscoThis is a data management platform studying reader behavior (Privacy Policy)