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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (455942)	9/10/2003 11:17:18 AM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 769670

I'm not confusting those two things Bill. I am being loose with them, because the conversation shifted in that way. But, rate or proportion it is the same argument! Individuals who make 100K salary pay approx 45K in taxes to get that 100K. This includes the 7.5K employee "match" which corps pay in to SS, because that money is also attached to the worker. 15K SS + 30K tax. I am rounding here, assuming it is a tech employee in California or Mass with state taxes. On that same 100K, assuming the maximum rate, which corps NEVER pay, 33K of taxes would be received on this 100K which magically transferred from worker salary to profits (another false assumption, 100K in worker salary would never translate to 100K profits but I am giving you that also). So taxes paid on worker 100K salary - taxes paid on corp profits of same amt- 45K - 33K = 12K taxes less that the US and California get with more corporate profits. The alternative approach which is more true to form is the website I provided yesterday, which clearly states that corporations pay only 10% of taxes in this country- all the rest are primarily individual taxes. So cutting 20% of workforce taxpayers would remove 18% of taxes from the system today. In order for a corporation to recover the 18% taxes lost from offshoring workers, corps would have to pay 3x what they pay now. You can mix and match these 2 figures, rates and proportion, all you want, because both arguments come to the same conclusion. Employee RATES are higher than corporate RATES (remember to include SS). And employee PROPORTIONS are higher than corporate PROPORTIONS. And this is why the deficit forecasts went from 300 to 450 billion a few months ago! I'm sure it blindsided the WH economists because they keep thinking the jobs picture will pick up any minute now. Get ready for the trillion dollar deficit because these numbers just don't add up on taxes and your weak trickle down analogy is straight out of Berkeley with a bad economics professor. If we are going to let white collar jobs fade away, we need to restructure the tax code, put more taxes on corporations, cut spending (defense and SS) or, close the borders and stop the jobs exodus! Thats pretty much it. All we are going to get from this WH is denial.