Interesting. Higher “domestic wages… drive up prices in the U.S.”
Sounds like he’s arguing against raising the Minimum Wage.
If we apply his analysis of percentage of income paid to import taxes, with the percentage of income paid to corporate income taxes, we would see the same result. Because the poor spend more of their income on consumption, both import taxes and corporate income taxes are regressive.
The income tax is on profits. I can lower prices to gain market share to displace the competition and/or to create more profit amounts (though at less margin per sale). It depend on business judgement (about markets, production capacities and efficiencies, investment base strategies, and tax strategies to name a few things most businesses should consider).
Replacing an income tax with a tax that applies at the sale, no profit tax at all, should mean a lot passes to prices, it is a sales tax afterall, not a profit tax.
The main intention of the policy is to shift tax burdens away from profits (remember, no profit, no tax bill, and we want well run profitable business right), and shift the burden on to consumers.
It is always interesting that where the inequality message is spoken the loudest is the place that has the most inequality: California. If California can’t level the playing field, what does that say to anyone? I’m still trying to figure it out.
To get a good trade deficit picture, one that doesn’t include gas/oil would be much more useful.
Interesting. Higher “domestic wages… drive up prices in the U.S.”
Sounds like he’s arguing against raising the Minimum Wage.
If we apply his analysis of percentage of income paid to import taxes, with the percentage of income paid to corporate income taxes, we would see the same result. Because the poor spend more of their income on consumption, both import taxes and corporate income taxes are regressive.
Warren that dies not seem right.
The income tax is on profits. I can lower prices to gain market share to displace the competition and/or to create more profit amounts (though at less margin per sale). It depend on business judgement (about markets, production capacities and efficiencies, investment base strategies, and tax strategies to name a few things most businesses should consider).
Replacing an income tax with a tax that applies at the sale, no profit tax at all, should mean a lot passes to prices, it is a sales tax afterall, not a profit tax.
The main intention of the policy is to shift tax burdens away from profits (remember, no profit, no tax bill, and we want well run profitable business right), and shift the burden on to consumers.
Eyes open, see this shift.
Oppose this shift.
It is always interesting that where the inequality message is spoken the loudest is the place that has the most inequality: California. If California can’t level the playing field, what does that say to anyone? I’m still trying to figure it out.
To get a good trade deficit picture, one that doesn’t include gas/oil would be much more useful.