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- Nov 30, 2011
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How would you then make up for the loss of corporate taxes? That is a huge part of our tax code that would, I assume (who knows with our gov't), be transferred to income tax. This would hurt our economy more than help it, I believe. Not arguing, just like to know your opinion on it. You seem knowledgeable about economics.That would require a thread by itself. I disagree with the very premise of their existence- corporate personhood. There are many reasons why, but one of the main arguments against corporations is that they contribute less to the societies they exist within than what they take from it. The externalities are not being considered by most individuals who support corporations. It should be apparent that "trickle down economics" has failed.
As far as trickle down economics, I agree something needs to happen to make these guys put their money back into the market. It shouldn't be any sort of gov't intrusion though. The Fed and Europe, to an extent, are the reason they are holding on to their money to begin with. I don't think trickle down economics has failed, I just think these guys are doing what I talked about earlier. The smart thing. Holding on to their money because they realized bad times were coming. Thats what I did, thats what you did, what's wrong with that?