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The Big Squeeze

The Big Squeeze

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@averagejoe1 said
Just for the record, I do not even blame Biden for inflation,
How blatant can your lies be?

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@averagejoe1 said
Let us discuss it, it is fun, I mean it, but you will have to tell us how much they should pay, and start with defining that oft-used phrase, 'fair share'.
You are aware that Bernie actually once said that people should be limited as to how much they should make. I think he also said $250k would be enough.
Another thing,,,,,,could you stipulate that all corpora ...[text shortened]... for your idiocy that the rich do not provide employment!!!!!! No sense even arguing that nonsense.
ECO 101 would tell you that Amazon is trying to maximize its profits now and if it could do so by raising prices it would have done so already. Thus logically a tax on profits would have no effect on their behavior and could not be passed on to consumers. The tax is on overall profits not on individual widgets making your argument fallacious.

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@averagejoe1 said
A quadruple whammy!! Increased taxes, increased spending , increased inflation, and increased IRS invasion. You know where al the real money is? It is held by the middle class......who will be taxed to hell.
If you will take a moment to digest these thoughts, maybe it will all sink in. Even Bernie acknowledged on the floor that the CBO is saying it will have a mi ...[text shortened]... .com/columnists/jennybethmartin/2022/08/10/dems-big-squeeze-irs-audits-coming-your-way-soon-n2611505
Most debaters are better served by delivering
...........FACTS, NOT OPINION PIECES,
that they happen to agree with.
Just so you know/
https://www.merriam-webster.com/dictionary/fact
https://www.merriam-webster.com/dictionary/opinion

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@no1marauder said
ECO 101 would tell you that Amazon is trying to maximize its profits now and if it could do so by raising prices it would have done so already. Thus logically a tax on profits would have no effect on their behavior and could not be passed on to consumers. The tax is on overall profits not on individual widgets making your argument fallacious.
Oh, Marauder. OK, here it is simply. Today, right now, restaurants are raising hell out of prices in order to stay afloat, mainly because of what they pay for meat and produce. A given. And if the tax man cometh, they will raise them a bit higher. Econ 101? No, more like common sense, logic.
Simply apply this rationale to corporations. Are you telling your readers that corps would/should not raise their prices to cover costs? This question has nothing to do with their boardroom decisions on maximizing profits, none at all.
How can you casually say '...tax..could not be passed on to consumers."? Of course it could. And, Until you push Marxism through congress, corps can do anything they want to in the way of profits.

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@averagejoe1 said
Oh, Marauder. OK, here it is simply. Today, right now, restaurants are raising hell out of prices in order to stay afloat, mainly because of what they pay for meat and produce. A given. And if the tax man cometh, they will raise them a bit higher. Econ 101? No, more like common sense, logic.
Simply apply this rationale to corporations. Are you telling your reade ...[text shortened]... , Until you push Marxism through congress, corps can do anything they want to in the way of profits.
Joe, this time I have a simple question for you. And it is: do you, Joe, know what a supply-and-demand curve is, and what linear programming is?

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@averagejoe1 said
Oh, Marauder. OK, here it is simply. Today, right now, restaurants are raising hell out of prices in order to stay afloat, mainly because of what they pay for meat and produce. A given. And if the tax man cometh, they will raise them a bit higher. Econ 101? No, more like common sense, logic.
Simply apply this rationale to corporations. Are you telling your reade ...[text shortened]... , Until you push Marxism through congress, corps can do anything they want to in the way of profits.
What I'm telling you is that the corporate tax is on profits. What you stupidly can't understand is that these companies are already maximizing their profits and imposing a tax on profits won't change their behavior. If they could increase their profits by raising prices they would have already done so.

That you can't comprehend this shows you would have got an F in ECO 101.

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@no1marauder said
What I'm telling you is that the corporate tax is on profits. What you stupidly can't understand is that these companies are already maximizing their profits and imposing a tax on profits won't change their behavior. If they could increase their profits by raising prices they would have already done so.

That you can't comprehend this shows you would have got an F in ECO 101.
I thought it is a given that Corp tax is on profits. The sky is blue. We get that.
So, a bit of plain English for the likes of the jester,.... if corps board decides to make 5% profit on their widgets, and the govt taxes result in a profit of less than 5%, they will increase the cost of the widget. This is called passing on their tax cost to the consumer. Why do you do this foolish parsing with your posts? I explain it, in one sentence, and you write a paragraph of foolishness. What has 'maximizing profits' got to do with this issue? Econ 101, yeah, I've heard of that. Geez
I explained it, you do not. Chalk up another for AvJoe. And did you see where Shav mixed up Mexican immigrants issue with with refugees, which they are not? You people keep our hands full on the posts, you really do.

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@averagejoe1 said
I thought it is a given that Corp tax is on profits. The sky is blue. We get that.
So, a bit of plain English for the likes of the jester,.... if corps board decides to make 5% profit on their widgets, and the govt taxes result in a profit of less than 5%, they will increase the cost of the widget. This is called passing on their tax cost to the consumer. Why do ...[text shortened]... ith with refugees, which they are not? You people keep our hands full on the posts, you really do.
You're an idiot, Joe; there's really no nice way to say it.

IF a company could increase the price and make more profit, they would already do it. It's really that simple.

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@averagejoe1 said
I thought it is a given that Corp tax is on profits. The sky is blue. We get that.
So, a bit of plain English for the likes of the jester,.... if corps board decides to make 5% profit on their widgets, and the govt taxes result in a profit of less than 5%, they will increase the cost of the widget. This is called passing on their tax cost to the consumer. Why do ...[text shortened]... ith with refugees, which they are not? You people keep our hands full on the posts, you really do.
The entire premise of your argument is that before the draconian taxes businesses are artificially keeping prices low? Why? Just because they're nice?

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@no1marauder said
You're an idiot, Joe; there's really no nice way to say it.

IF a company could increase the price and make more profit, they would already do it. It's really that simple.
My point is simpler. The board, working for their stockholders, has to make 5%. If tax increase affects their bottom line, they raise prices. So, the consumer in effect pays the tax.
So, you are saying they would, or worse should, Not raise their prices? Hah, all of them are doing it now, because of inflation, cost of raw materials.
Am I missing something? Are you saying The My Pillow Guy has ‘already increased his price to make more profit.” What? So if Corp taxes are raised, what happens then? Does his price stay the same, or does it go up? You say he can’t raise the price’...because he already has!?!?
What? Could you rephrase for your readers....and ME!??!??

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@wildgrass said
The entire premise of your argument is that before the draconian taxes businesses are artificially keeping prices low? Why? Just because they're nice?
I have an interest in a tomato farm, our profit is 5 cents a pound. That is it. If we are taxed to where we only can make 4 cents, we will raise the prices. You are seeing this happening with Inflation, for God sakes. People will still buy tomatoes and widgets.
What are you not explaining? If corps raise due to inflation, why would they not raise for tax expenses?

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@wildgrass said
The entire premise of your argument is that before the draconian taxes businesses are artificially keeping prices low? Why? Just because they're nice?
I never said they are artificially keeping prices low? What. They make as much as they can. Price points, such as that. 5 cents a lb for tomatoes.

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@AverageJoe1
Since the price of the parts for widgets has gone up and he raises prices why do you think it was for raising profits? He has a profit margin already set up and raising prices just covers the price of widgets for the goodies being made. There is no automatic link to just raising prices in this market followed by a guaranteed increase in profits, he raises the price because if he didn't his profits would tumble.
What is so hard to understand about that?

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@sonhouse said
@AverageJoe1
Since the price of the parts for widgets has gone up and he raises prices why do you think it was for raising profits? He has a profit margin already set up and raising prices just covers the price of widgets for the goodies being made. There is no automatic link to just raising prices in this market followed by a guaranteed increase in profits, he raises the price because if he didn't his profits would tumble.
What is so hard to understand about that?
Your first question: His profit is 5%, and he wants to keep it that way. If his cost to create the widget goes up, due to increased tax and/or parts, then his profit is affected, ...it goes from 5% to 4%.
Help! What is he going to do?
What is he going to do? Please tell me, and please rephrase rest of your post. For instance, I don’t understand “..raising prices just covers the price of widgets for the goodies (?)”... what does that mean?

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@averagejoe1 said
I never said they are artificially keeping prices low? What. They make as much as they can. Price points, such as that. 5 cents a lb for tomatoes.
Yes, you moron, they already make as much profit as they can.

And the corporate tax is on GROSS PROFITS. It is not on a per unit tax on inputs (like in the examples you keep stupidly using) not is it a sales tax they could be largely passed on to consumers (depending on the relevant supply and demand curves). So the company is already making as much gross profit as it can, so actually making billion dollar+ profit companies pay a minimum tax will not cause them to raise their price a cent more they then would have anyway.

Here have a chat with Jeff Bezos about it:

JB: Well, I guess Amazon is going to get taxed 15% next year on our profits where we've been paying nothing before [makes sad face].

AJ: Don't worry; you can just raise prices and make more profit and thus pass the entire cost of the requirement Amazon actually has to pay taxes like everybody else onto your consumers.

Ain't I brilliant and I win another debate!

JB: UM, Joe we already maximize our profits; if we could make more profits by raising prices, we already would have.

AJ: ______________________________________________________________

[Feel free to fill in the blanks telling JB why he is wrong].

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