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View Diary: Good news on the deficit makes Social Security cuts even worse (8 comments)

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  •  Current tax policy is destructive to jobs growth, (1+ / 0-)
    Recommended by:
    BusyinCA

    higher wages and GDP growth.  Businesses and investors are just responding to what the tax code encourages them to do.

    For example, the most heavily taxed investments are those that are most likely to employ US workers.  

    In the US market, US made goods and services bear the full tax burden of the US (business, investor and employee income taxes, property taxes, etc.) while imported products don't have the US tax burden and the exporting country removes all or most of their tax burden on what they export.  The result tells business to avoid putting operations in the US beyond what is needed to sell to US customers.

    Hiring low skilled employees is discouraged, as the health insurance and payroll taxes for these workers make up about 35% of the cost of hiring them compared to about 20% for higher skilled workers.

    All of the above depress US employment, so there are fewer jobs and wages are lower.

    The most important way to protect the environment is not to have more than one child.

    by nextstep on Fri Apr 12, 2013 at 09:43:58 AM PDT

    [ Parent ]

    •  All the problems you list are problems the (1+ / 0-)
      Recommended by:
      Nattiq

      corporations and banks created themselves. They have written  the tax for the last 30years. The gambling grifters on Wall St. successfully lobbied to reduce taxes on financial transactions profits and abandoned investments in U.S. industry.

      Corporations lobbied for tax breaks to send their production overseas and got them. And they wrote trade deals that allow them to import these now off shored products into the U.S. without paying import duties. In the old pool room we called this fucking the dog and selling the pups.

      Healthcare benefits are so expensive because of our Wall St run healthcare sector and is the least efficient and affordable in the world. Wall St. and employers shit canned the defined benefits pension system for 401ks. They handed Wall St. $150,000 in management fees over the life of a 401k and reduced employer contributions. Again Wall St and corporations lobbied for this.

      The business sector with the aid of repuglians and consevadems mashed American Unions.

      All of the above depress U.S. employment, so there are fewer jobs and wages are lower.

       

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