Monday, March 19, 2012

Taxes are too high?

We can't raise taxes because then companies couldn't spend to invest. Only problem: big American companies like Apple Corporation are sitting on literally hundreds of billions of dollars that they've simply piled under giant mattresses. Sayyyyy... why can't we tax that big hoard of cash? I mean, if Apple was going to spend it, they woulda spent it, right, so clearly they don't need it, right? And it's not as if they're paying huge amounts of taxes on the dough -- they paid a whole 3%, yes, THREE PERCENT, on the cash they got from overseas, and are whining that bringing that cash here to America would mean they'd have to pay SEVENTEEN percent tax. Oh wah! The majority of Americans only wish they paid only 17% tax -- crap, I pay 7.5% sales tax on everything I buy in the first place, nevermind income tax, Social Security and Medicare tax, and all that!

Yet you still have tools whining American companies can't afford tax hikes, even though the taxes are primarily on mattress money like what Apple is dumping on its shareholders today -- i.e., the taxes will basically take money out from under mattresses and put it back into circulation in the economy where it can do some good. Unbelievable. Truly unbelievable. But not surprising. After all, we can't expect corporations today to pay the 1/3rd of taxes that they paid in that horror that was America under that socialist President Dwight D. Eisenhower, instead of the under 10% of taxes that they pay today... why, that'd be Communism!

- Badtux the Snarky Penguin

1 comment:

  1. If you think about it, raising corporate tax rates provide a greater incentive for investment.



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