Romney: "Obama supporters are dependent on the government"

[HoneyBadger]

So what you're actually saying is...


It's my turn to be the troll! hahaha

[Rucker61]

So what you're actually saying is...


It's my turn to be the troll! hahaha

Actually, I've got two great bumper stickers tucked away that I should bring out:

Wallace for President
George Clinton for President. Free your mind, and your ass will follow.

[Irving]

Dwalker nailed the flaws with Fastman's consumption tax theory.

Teufelhund, you pay more taxes because of how you pay taxes, more than how much money you make. A very rich doctor still pays taxes the same way you do, and gets boned even more, even though he is "rich."

It sounds like you are saying that there should be a greater balance in incentives for people who are not business owners, because not everyone can be a business owner. I would agree with that, but don't have many suggestions on what to do. That is why I decided to pursue investments so I could pay as high a percentage of my income as Capital Gains as possible. Basically, I know I can't change the government, or how it taxes me, so my only option is to find a better way to pay taxes. It's not easy, but easier than trying to change government.

[Irving]

Honeybadger, let's say you have a rental property that you just paid off. Without the debt service, your cost is significantly reduced. Would you lower your rent?

Fastman, China directly controls the value of its currency, keeping it purposely low so the price of their goods are lower than the free market would usually allow. If we try to manufacture here, China can just readjust the value of their currency so their products will be the cheapest in the markets again. Now we will have factories that have over produced goods that we can't sell. Free market competition is ideal, but dealing with China isn't a free market when they control the value of their currency.

[HoneyBadger]

Honeybadger, let's say you have a rental property that you just paid off. Without the debt service, your cost is significantly reduced. Would you lower your rent?

If I was having a hard time "selling my product" (finding renters) then yes... That's what everyone does. Some income is better than no income.

[Rucker61]

If I was having a hard time "selling my product" (finding renters) then yes... That's what everyone does. Some income is better than no income.

Yes, but wouldn't you lower the rent regardless of debt status in order to get that income? The best pricing isn't done based on cost of the product or service, but rather on what the market will bear.

[HoneyBadger]

Yes, but wouldn't you lower the rent regardless of debt status in order to get that income?

Yes. Debt status has nothing to do with it.

[Irving]

Yes. Debt status has nothing to do with it.

But you said that a consumption tax would lower overhead costs for companies, so they would automatically lower the price of their products.

[FastMan]

Fastman, China directly controls the value of its currency, keeping it purposely low so the price of their goods are lower than the free market would usually allow. If we try to manufacture here, China can just readjust the value of their currency so their products will be the cheapest in the markets again. Now we will have factories that have over produced goods that we can't sell. Free market competition is ideal, but dealing with China isn't a free market when they control the value of their currency.

On top of that, they subsidize some of the product they export. All the more reason to give our guys a hand via the consumption tax I explained. It won't fix the problem completely, but it will help, with China, and every other low wage paying country. The rest we can make up for with tariffs and such. Look for Romney to perhaps do some of that. He's been talking about it.

The competitive help to American businesses is not the only benefit of the consumption tax. Don't forget the benefit I explained about getting all Americans invested in and concerned about Federal fiscal responsibility. Many will balk at the idea, because they're currently not contributing little to the benefits they receive from federal spending and don't want to wreck a good thing, but if we don't change that we're doomed.

[xring]

On top of that, they subsidize some of the product they export. All the more reason to give our guys a hand via the consumption tax I explained. It won't fix the problem completely, but it will help, with China, and every other low wage paying country. The rest we can make up for with tariffs and such. Look for Romney to perhaps do some of that. He's been talking about it.

The competitive help to American businesses is not the only benefit of the consumption tax. Don't forget the benefit I explained about getting all Americans invested in and concerned about Federal fiscal responsibility. Many will balk at the idea, because they're currently not contributing little to the benefits they receive from federal spending and don't want to wreck a good thing, but if we don't change that we're doomed.

A tax or tarrifs can not restore a free market. A market is eithor free and regulates efficently or it is not. If there is a distortion a second distortion does not enable it to regulate efficently. Debasing our currency to match Chinas currency manipulation would be a example. If there is a abomination present, do you correct it or create a second abomination? Free markets are what be must be restored or we are doomed. The budget must be balanced or we are doomed. Would you consider a corporation with 20 USA employees and 200 chinese employees to be an "American business" that needs a tax break? Would you consider a corporation on USA soil that had contract employees from another country working at its USA facility an "American business" that needs a tax break? This is the new normal this is how it works;

USAcorp contracts with mumbaicorp to provide services xyand z. USAcorp arranges for visas for the employees of mumbaicorp. These mumbaicorp employees come to the USA work at the USA facility but pay no income tax. Mumbaicorp employees are not citizens and only employed by mumbaicorp in another country. Mumbaicorp employees only relationship to USAcorp is that of a representitive of a foreign corporation fufilling a contract. All of mumbaicorp employees expenses while in the USA are paid by mumbaicorp. Mumbaicorp employees are paid by mumbaicorp in the banking system and currency of the country mumbaicorp is from.

If you dont consider the two examples above to be "american business" that need a tax break how would you apply the tax break to one corporation but not the other? This is why free markets regulate efficently but multiple distortions within a non free market do not.