Corporate tax breaks

[NoJingoLingo]

Any question about who runs our government?

As you may recall, a tax cut plan for corporations and individuals failed miserably in the House a few weeks ago, getting 8 votes – comically short of the 60 needed for passage.

So, the House went home for two weeks and some intense lobbying began. When state representatives came back to Springfield, a slightly revised version of the corporate tax cut plan passed with a whopping 81 votes. The bill would grant large tax breaks to CME Group and Sears to keep them from leaving the state, as well as a few broad-based provisions.

After corporate tax break, other companies ask, ‘Where’s mine?’

[The-Other-Lib]

Crony Capitalism is the problem:

Established businesses commonly propose, endorse and support government regulations that restrict market entry by new competitors. Restricting market entry reduces competition and artificially skews the supply of a service or product resulting in an increased cost for consumers and an increased profit for businesses. This means that businesses have a genuine incentive to use government regulation as a weapon against competing businesses and potential future competitors. Although the most severe types of these regulations have been deemed unconstitutional by the Supreme Court, many seemingly benign regulations often have the same effect, including licensing and permitting requirements.

[m5lange1]

Tax breaks for businesses should only be available, and in proportion to, the money they reinvest in the US economy by hiring, expanding and spending in the US.

The idea of giving them breaks and trusting them to actually grow here is a sucker's bargain. Especially as we see them doing the exact opposite, expanding and hiring and purchasing elsewhere. Or, just as bad, passing the tax break on to their own CEOs and growing their own bottom lines. THAT is not helping the US economy.

[barts]

In my view, corporations should pay no corporate income tax at all. Avoiding taxes often leads to bad business decisions. The taxes should be paid when the owners of the company (the shareholders) take out profits or dividends.

The real issue is not tax breaks, but subsidies and preferential treatment and access to markets.

[NoJingoLingo]

Crony Capitalism is the problem:

We've been talking about Crony Capitalism around here for years. Welcome to the party!

Tax breaks for businesses should only be available, and in proportion to, the money they reinvest in the US economy by hiring, expanding and spending in the US.

The idea of giving them breaks and trusting them to actually grow here is a sucker's bargain. Especially as we see them doing the exact opposite, expanding and hiring and purchasing elsewhere. Or, just as bad, passing the tax break on to their own CEOs and growing their own bottom lines. THAT is not helping the US economy.

Why give them tax breaks at all?

In my view, corporations should pay no corporate income tax at all. Avoiding taxes often leads to bad business decisions. The taxes should be paid when the owners of the company (the shareholders) take out profits or dividends.

The real issue is not tax breaks, but subsidies and preferential treatment and access to markets.

I think the real issue is corporate influence in our government.

[barts]

I think the real issue is corporate influence in our government.

Indeed. Public policy would be very different if the President, Senators, and Members represented "the people" rather than their corporate donors.

[Charlatan]

If we were to observe the tax breaks, they do not bring money in, but rather extend the amount already in the company. We need to bring more money into circulation.

We can do this by making it easier for competition to erect itself against the coorporate machine. This can be done by not allowing one seven eleven to serve a whole community, but how do we do this? I am sure it is big business destroying all the smaller businesses that leads to less jobs in the first place, so we need to make more jobs by killing off big business. The problem is that big business is linked to progress in the system and market for products, and people want those products.

The solution should be to make the same system as in in wage taxation. If we were to tax big business more than a smal business, the big business will invest in many smaller businesses. If this were to take place, there would be more jobs, prices would come down and I am sure a whole lot more cool stuff.

[m5lange1]

Quote by: m5lange1
Tax breaks for businesses should only be available, and in proportion to, the money they reinvest in the US economy by hiring, expanding and spending in the US.

Quoting Nojingolingo..."Why give them tax breaks at all?"

As incentive to reinvest in the US instead of elsewhere, instead of paying out huge bonuses to their private fat cats, or just sitting on their pile of money. If tax breaks were only for the $$$ they reinvest trough US purchaces and job growth the myth of trickledown economics might actually have some merit.

The pie in the sky talking point of the right, that tax breaks for business grows the economy, might actually have merit if it was not just the huge wealthfare scam it is today.

[Charlatan]

Quote by: m5lange1
Tax breaks for businesses should only be available, and in proportion to, the money they reinvest in the US economy by hiring, expanding and spending in the US.


As incentive to reinvest in the US instead of elsewhere, instead of paying out huge bonuses to their private fat cats, or just sitting on their pile of money. If tax breaks were only for the $$$ they reinvest trough US purchaces and job growth the myth of trickledown economics might actually have some merit.

The pie in the sky talking point of the right, that tax breaks for business grows the economy, might actually have merit if it was not just the huge wealthfare scam it is today.

I must agree with you there.

[The-Other-Lib]

Tax breaks for businesses should only be available, and in proportion to, the money they reinvest in the US economy by hiring, expanding and spending in the US.

As long as their tailored in a way that makes them available to all competitors then I'm fine with that. Unfortunately, as the Jack Abramoff 60 minutes piece ^[1] taught us, it only takes one lobbyist to insert a sentence - that would take a team of lawyers a week to figure out - which gives special treatment to one business/industry over another.

Ever read Atlas Shrugged? I'm typically not big on looking around for signs of dystopia but in the case of Crony Capitalism we're definitely through the looking glass.

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^[1]:

[Charlatan]

As long as their tailored in a way that makes them available to all competitors then I'm fine with that. Unfortunately, as the Jack Abramoff 60 minutes piece ^[1] taught us, it only takes one lobbyist to insert a sentence - that would take a team of lawyers a week to figure out - which gives special treatment to one business/industry over another.

Ever read Atlas Shrugged? I'm typically not big on looking around for signs of dystopia but in the case of Crony Capitalism we're definitely through the looking glass.

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^[1]:

Okay, they are working for the state, so collect all that tax money, so why would they want to collect less? This would mean that they are being paid by big business to do this, and this would lead to the destruction of the world. An audit of banks should reveal where money has come from, and then it would show that hese people are making a living off of the ordinary people.

As this has self destruction written all over it, I suggest that taxation comes relative to the size of the company, and that is gets more the more there is to skim off the top. These wild bosses won't lose that much, and then again, taxing the rich is something that people have been trying to do for a while now.

[Dieval]

Any question about who runs our government?



After corporate tax break, other companies ask, ‘Where’s mine?’

Sooo...in your opinion, business leaving (what I assume is your state, Illinois) is a good thing? O.o
I'd say bring them to my state, but CA is already bleeding every company here dry.. DEFINITELY not a good thing.