Making Struggling Workers and Families Foot the Bill, Corporate America Paying Lowest Share of Taxes Since Eisenhower Era
I wonder how many of the newly (or soon to be) unemployed voted for Twump, and how many now regret it?
Okay, no taxes for corporations. They are not people after all. Instead we will tax the excessive corporate profits of their owners and shareholders at 95%.
Direct (Liquid) Democracy, the way to beat the oligarchy.
To be fair, only 500 of those Ford layoffs are in the US.
And in no way should my comment be construed as an endorsement of the Trump tax $$$ giveaway.
I’m missing something
> Corporate America Paying Lowest Share of Taxes Since Eisenhower Era
During Eisenhower the Top marginal tax rate was over 90%
From the NPR-link contained in this story:
“About 800 U.S. workers will lose their jobs between now and August. Another 1,500 U.S. employees took voluntary buyouts last year.”
Correct. Which resulted in corporations providing about 25% of all tax revenue in 1960 (currently down to <7%), based on historical IRS data, with individuals contributing <50% of total tax revenue at that time (currently at 57%) .
I live in Ford country. I know of at least two engineers who took the buy out and were promptly rehired as contractors to perform the same jobs. Nice deal if you can get it.
The reality is the volume of new automobile sales in the US is plummeting. Ford and GM have found that sales still strong in the SUV and truck segment and sales of these tend to provide higher margins. The entry level auto sales are weak.
The masses of peoples that used to buy those lower end cars such as the Focus are now going to the used Car market for transportation needs. Ford in essence has priced themselves out of the market with a wide swath of the people.
In that used car market the consumer has record debt and record amounts of people are missing their car payments. Ford and GM intend to make fewer vehicles and focus on those SUVS and Trucks that provide higher returns per unit and cut back overall production.
A corporate tax is just a hidden sales tax that you and I pay. If Uncle lays a tax on a widget, the corpse just adds it to the cost of the widget and we pay it. Isn’t a car cost now about 50% tax? And now Uncle is demanding so much surveillance crap on new cars to monitor and control us. Oh, and s a f e t y crap too that is more dangerous than good…but it is expensive! Uncle needs more money for more war, but health is too expensive. Rather than a corporate tax that you and I pay for, how about a fat sales tax on luxury items, boats/planes/mansions…and fancy cars… Gopherit
Those tax cuts resulted in over a trillion dollars in stock buybacks yet Wall St. is saying Ford did not go far enough and are calling for 30,000 more be laid off. Where is the UAW in all this? Why no call for worldwide strikes? Sellout corporate unions are worthless and need to be ignored by workers in favor of localized actions and organization across international lines. The UAW has gotten auto workers is tiered wages, reduced pensions and faster assembly lines.