College Liberal

This is true

lol

Good one. !

Corporate subsidies and other taxed based corporate welfare are not voluntary.

Examples?

http://thinkbynumbers.org/government-spending/corporate-welfare/corporate-welfare-statistics-vs-social-welfare-statistics/

http://www.heritage.org/research/commentary/2014/7/end-corporate-welfare-as-we-know-it
From the article:
Conservatives have argued for many years, and correctly, that welfare programs foster a culture of dependency that impedes the process of financial self-sufficiency. That's true of companies too. The Fortune 500 have become addicted to their subsidies. They now regard them as a political entitlement.

In other words, they feel entitled to our money. This breeds a corruption in Washington with big corporate donations paying for even bigger corporate welfare handouts. It's called pay-to-play, and it's happening now as corporate America launches a full-court blitz to save the Export-Import Bank.

As my friend from Fox News, John Stossel, puts it, this isn't capitalism, it's "crapitalism." And it must end.

It's crony capitalism. It's pushing us to an Oligarchy.

I like the term "crapitalism" myself ... :)
But we definitely agree.

But oh no no no no, we mustn't tax high income at a high level. That's punishing success.

yeah like we taxed in the 50's at 90%+ on the highest margins. We did pretty well then too.

People who push higher taxes are generally either 1) so rich they can hire an army of accountants to insure they pay virtually zero in taxes and will have legions of people swooning over their "fairness" or 2) so uneducated they think that higher taxes are actually paid by "the rich" or by corporations.

A flat tax is the only true fair tax. No deductions. No loopholes. What's your income? Multiply that by X% and send it in.

That's silly. Say its 15%. To someone making 20,000 a year that $3000 meas A LOT more to them then it does to someone making 2 million that has to pay $300000.

I MIGHT be for flat tax if

A. there were NO taxes on the first say 40,000 per person and the tax only applied to income above 40k

B. There were ZERO loopholes or deductions except for mortgage interest

C. ALL income, regardless of how it was obtained, is taxed the same as wages.

http://usuncut.com/class-war/10-corporate-welfare-programs-that-will-make-your-blood-boil/

I think we're on the same page.

Some (VERY ignorant) people think taxes should be paid on revenue or margin dollars and companies shouldn't be able to deduct their legitimate expenses though. They incorrectly call this "corporate welfare."

http://www.forbes.com/sites/taxanalysts/2014/03/14/where-is-the-outrage-over-corporate-welfare/

There are are laws against fraud (I.e. false advertising). And you want to talk about extortion, Obama Care REQUIRES you to buy a product regardless of whether you want or need it. If you are simply arguing that some, minor government intervention is necessary, I agree. But corporations don't "steal" anything. If you don't want to give them money, don't exchange it for a good or service.

I would like to clarify that the when I say government intervention I am referring to the types of regulation that ALREADY exist. I'm not suggesting some new, drastic intervention.

I was thinking about how the 'markets' are no longer free....there is no price discovery any more. Accounting rules are no longer followed...share buybacks inflate earnings...currencies and commodities are all manipulated in the futures markets. Bonds are considered assets etc etc.

A lot of people will disagree, but this is what happens when companies become "too big to fail" which translates to too big to regulate. I'm a free market guy, don't get me wrong, but these companies that now fall into this category, got there with a LOT of legislative help.

Symptoms of a legislative body eager for donations and large speaking fees to finance their agenda.

That is true... And that is why government should not be involved in companies or corporations at all, and just let them succeed or fail on their own.

Agreed, where it all gets f'd up is when government tries to fix things instead of letting the economy self regulate.

The biggest fallacy is believing that government has to regulate everything. The only thing government needs to do is provide courts of law, so that if a business or corporation wrong a customer or commit fraud, we as the consumer have the right file a lawsuit against the company that has wronged us. RWT you should read or listen/watch Milton Friedman talk about the role of government and free market capitalism...

I'm following the collapse as it happens. Am a student of Austrian Economics. No one has been jailed for the fraud and corruption of the subprime mortgage fiasco.

That is because all three parties were at fault, in some way. Should the banks have accepted triple B home loans or mortgages at the same rates as triple A's, looking back on it no. But how were the bankers supposed to know there would be so many people not paying their mortgages. The banks thought process being "what fool is not going to pay their mortgage", but remember hindsight is always 20 20. Then there was the fault of the realtors who sold these homes at crazy adjustable rates which made it impossible for lower income families to pay off. Then of course there is the responsibility of homeowner for paying the mortgage. Is it the banks or realtors fault the home buyer did not pay their mortgage? If you watched that movie "the big short" they made it seems as though only the banks were at fault. Which is a complete lie. Did they share the blame? Yes, but is was not all their fault...

These were repackaged and sold as triple A securities. If the bond rating system cannot be trusted then there is nothing left.

What's Friedman say about subsidies and other corporate welfare?

Mr. Friedman does not like them at all. But please go look it for yourself, I would prefer not to misquote or rewrite all the teachings of the nobel prize winning economist...

Well you brought him up I thought you'd be able to answer with authority and proof.

Mr. Friedman does not like any government involvement in business. He believes government only makes things worse for free market enterprise. But again you should read him yourself, not have me recite him for you was all I was implying...

It leads to oligarchy serfdoms. We're happily heading in that direction. Because the laws don't matter. Offshore accounts, poverty wages, tax dodging, market crashing, it all leads to huge corporate profits, huge worker productivity, the wealthist 1% and the poorest workers have been in 30 years.