US Federal Budget Deficit

Originally posted by sh76
Yes. Yes. Canada. Asia. Latin America. Anywhere where the taxes are lower.

Question, ATY: Why is it that companies can build factories and take advantage of cheap labor in Asia, thus stimulating their economies, but not in Africa?

http://www.finalcall.com/artman/publish/article_1163.shtml

Canada, Asia and Latin America have lower taxes than the US? Really?

Originally posted by KazetNagorra
It's not really the problem of businesses if their employees have to pay more taxes, is it?

Of course it is. The more taxes employees have to pay, the more the employers have to pay them to make it worth their while to work.

In any case, the poor in the US barely pay any taxes so I don't see how tax policy has anything to do with "cheap labour".

In this case, I'm referring more to corporate taxes.

I'm not saying corporate taxes are a bad idea of even that they're high enough as it is. I'm just saying you have to be careful about how much you raise them.

Originally posted by KazetNagorra
It's not really the problem of businesses if their employees have to pay more taxes, is it?

It's virtually irrelevant who nominally pays it. What matters is the amount the company pays in gross terms and how much the worker receives in net terms.

Originally posted by sh76
Of course it is. The more taxes employees have to pay, the more the employers have to pay them to make it worth their while to work.

In any case, the poor in the US barely pay any taxes so I don't see how tax policy has anything to do with "cheap labour".

In this case, I'm referring more to corporate taxes.

I'm not saying corporate taxes ...[text shortened]... gh enough as it is. I'm just saying you have to be careful about how much you raise them.

When people are talking about "taxing the rich" generally they mean high wage earners, not corporations.

I don't think high corporate taxes are a good idea in general. Just tax the CEOs heavily if they attempt to leech from the company's value.

Originally posted by KazetNagorra
When people are talking about "taxing the rich" generally they mean high wage earners, not corporations.

I don't think high corporate taxes are a good idea in general. Just tax the CEOs heavily if they attempt to leech from the company's value.

When I talk about taxing the rich I mean rich people who don't need a wage because they're rich.

Originally posted by sh76
Question, ATY: Why is it that companies can build factories and take advantage of cheap labor in Asia, thus stimulating their economies, but not in Africa?

http://www.finalcall.com/artman/publish/article_1163.shtml

Your article does talk about five African countries. What Asian countries did you want to compare to them?

EDIT - Ironically, China seems to be investing in Africa.

http://www.pri.org/world/asia/china-invests-in-africa.html

Originally posted by sh76
http://www.finalcall.com/artman/publish/article_1163.shtml

Couldn't you find something better?

Originally posted by Palynka
Couldn't you find something better?

I'm sure I could have; but I wasn't willing to invest the energy to do so.

Originally posted by AThousandYoung
Canada, Asia and Latin America have lower taxes than the US? Really?

Not the point.

I didn't say that taxes are already too high. I said that you must be careful not to raise them too high.

Originally posted by sh76
I'm sure I could have; but I wasn't willing to invest the energy to do so.

I still owe Teinosuke an analysis of rights that I don't want to do.😞

Originally posted by sh76
Not the point.

I didn't say that taxes are already too high. I said that you must be careful not to raise them too high.

That's true, but it's not something we need to be thinking about right now. If we want to be competitive we need to look at the competition. From what little I know I understand our taxes are much lower than anyone else's and indeed lower than our own past taxes in our days of glory. Talking about Americans moving to China to avoid taxes is...strange. Who wants to live in China? 😕

EDIT All this talk about "top talent" - these are the people that ruined our economy. They're not top talent. They're simply entrenched in the industry. Those who ruined the economy are now being paid to fix it. Off with their heads! No more central planning, capitalist, communist or otherwise!

Originally posted by kmax87
Simple answer. Tax the rich.

What are the rich today? You know its confusing, because it used to be $250,000 a year. However, with such confounding factors as inflation and falling wages etc. that number seems to vary from day to day. In fact, with falling salaries my guess is that number will fall year by year until you are the targeted "rich".

Originally posted by whodey
What are the rich today? You know its confusing, because it used to be $250,000 a year. However, with such confounding factors as inflation and falling wages etc. that number seems to vary from day to day. In fact, with falling salaries my guess is that number will fall year by year until you are the targeted "rich".

Stop talking about salaries. It's about net worth.

Originally posted by AThousandYoung
That's true, but it's not something we need to be thinking about right now. If we want to be competitive we need to look at the competition. From what little I know I understand our taxes are much lower than anyone else's and indeed lower than our own past taxes in our days of glory. Talking about Americans moving to China to avoid taxes is...stran ...[text shortened]... it. Off with their heads! No more central planning, capitalist, communist or otherwise!

The top talent didn't ruin our economy; the politicians did. The politicians are not the top talent.

Originally posted by sh76
The top talent didn't ruin our economy; the politicians did. The politicians are not the top talent.

BS. Goldman Sachs screwed with the housing market on purpose leading directly to the housing crash. Did you watch the Michael Lewis stuff I linked before?

http://www.ritholtz.com/blog/2010/03/60-minutes-michael-lewis-the-big-short/