Welfare for Big Business, what do you think?

Question

Did you know that the government gives more money to businesses in the form of tax breaks, even the business that ship jobs across seas, than it spends on all of the social programs established for the needy?

R. Glenn Hubbard, Anthony Patrick O'Brien Macroeconomics 2nd edition

Answer 1

Biden helped credit card corporations get rich off of the poor and single moms.  Shame.

Answer 2

American companies are the highest taxed of all industrialized nations. Taxing corporations does nothing but increase the price of the products the company produces to the consumers. Costs, including taxes, are passed through. So, when you tax corporations, you are indirectly taxing individuals. Also, when taxes are increased on American companies, they are put at a competative disadvantage with other nations like Japan, Germany, etc. Also, the reason some American companies move there operations overseas is to avoid high taxes and labor costs. The function of a business in a capitalized society, is to make a profit. Period. Business are NOT created to provide money for the government to redistribute. That is called socialism and we're not a socialist country, yet. That may change if Obama is elected though.

Answer 3

Yep. 167 million in corporate welfare...and 63% of corporations pay NO taxes. Sad, when we are only spending 1% of the budget on social welfare, that so many complain about our poor people....when they should be complaining about our very wealthy people.

Answer 4

For it to be welfare you must be assuming that all of the money the company made belonged to the government.  Don't you see that as dangerous?  All the money you make belongs to the government and they then decide what you get to keep.

No, I don't think it is a bad idea to let the people that earned the money keep it.  That is a far better thing than the government creating a class of non achievers.

Corporations pass all their tax burdens on to their customers.  Any money saved by those corporations is saved by the customers.  More taxes, higher prices.

How much more do you want to pay for goods and services?  Any taxes these companies pay is paid by you and me.

What percent of the money that you earn do you think should go to the needy?  Isn't that a question for you to decide?  Isn't the delivery system for that contribution something you should choose?

fs

Answer 5

There is no such thing as "Welfare for Big Business". Tax breaks are not welfare.  To assume that it is, is to assume the money belongs to the Gov't.  

It should be widely known that businesses do not really pay taxes anyway.  They are passed on to the consumer.  Business has a tax incidence but pass on the burden.

So to that end, removing a tax break, the same as adding a tax, only increases the price of the product.  

You speak of the "needy". They are hit by this hidden embedded tax far worse than " rich".

Solution? remove all business taxes.

Answer 6

corporate bailout is corporate welfare...but the republicans say this type of welfare is okay b/c it helps keep jobs, blah blah blah.  

Answer 7

WOW...you mean we let them KEEP the money THEY EARN...rather than redistribute the wealth.....Sounds like Capitalism and giving incentives for HIRING people....CUT these programs and they cut JOBS ....are you libs that IGNORANT of economics...

Answer 8

Actually... it's only REALLY Big Businesses...

The Republicans always try to scare millionaires into thinking that their small businesses will suffer from taxes under Democratic leadership...

But the truth is - the only businesses that REALLY suffer from the taxes are the Oil Speculators, Walmart and McDonald's.

You have to be HUGE to fit in the upper 5%...

You have to make enough money to afford 7 houses...