Biden's tax plans

@QuixoticSoul They resulted in better pay.

@IronHamster They didn't do that either, but as it happens - better pay is a sure way to lower the company's tax burden.

@QuixoticSoul Better pay comes from competition. If I can pay more because I make more, I will hold my employees while you lose yours.

@IronHamster Yes, it comes from competition. As for making more in this context, I think you're mixing up revenue and profit here.

@QuixoticSoul Admitting you have a perception problem is the first step on your journey to clearer thought. Congratulations. Let me know if there is anything I can do to help you improve.

@IronHamster You're never going to figure this out are you.

@QuixoticSoul I will if you open up about your issues.

@QuixoticSoul You are ignoring the US version of a tax increase that happens automatically. Some call it inflation, some refer to it as money-tizing the national debt. The Fed prints more money and distributes it in many different schemes. The extra money forces prices up.

Do you think house prices would be as high as they are if the government wasn't inflating the bubble with 2% mortgages?

@Heartlander so, you think it’s a valid tactic to just throw out random associations?

The Fed’s monetary policies may impact the literal dollars being collected, but there is zero impact on tax rate.

When the Fed changes cash reserve requirements or issues or pulls back credit, the value of the dollar might be tweaked, but that’s it.

You might think you know what you’re talking about, but you don’t.

@Heartlander We have the same problem now with student loans. Why is tuition so high? Supply and demand. Cheap loans thrown at cheap education. Ask most college students what they plan to do and they will say "I'm smart. I'll figure it out." Four years later they have a shit job that doesn't require a degree and they've moved back in with their parents, which is a sign that this is them not figuring it out.

@QuixoticSoul Corporations used the 2017 Tax Cut almost entirely to buy back their own stock, which does nothing to help the economy.

@badminton Yup. Because corporate tax rates have little impact on growth, employment, etc.

@IronHamster Tuition is so high because after ‘08 states stopped funding their education systems properly. This was an almost overnight change. Supply and demand hasn’t actually changed all that much, in terms of percentage of high school graduates pursuing an undergrad degree.

A college degree remains a basic requirement for general white collar work, while entry level white collar wages didn’t grow with education costs.

The system worked fine for decades and will keep working all right if we fund public education adequately.

@IronHamster
🤣😂

Here's a non-scientific poll. My kid, who graduated June 2021 now has a $115K per year job. His close friends all have starting jobs that pay similar $s. My nephew is a Senior. He was paid $8K per month for his 8-week internship this past summer, along with a flat $10K allowance for room & board, which he pocketed because he was at home. He went back to school with a $125K per year offer when he graduates in May'22.

Your narrative is defunct, but it would be interesting if you can enumerate "Ask most college students"...