Trump says he may invoke executive privilege if John Bolton is subpoenaed by Senate

Dec 2018
5,673
1,524
New England
I reject your premise and choice until you present a cogent argument with research to support it. What have reputable economists discovered? No offense, but your record on economic issues leaves a lot to be desired.
I find it remarkable you need research to explain what a business might do when it encounters a cost spike.
 
Dec 2018
5,673
1,524
New England
Take up the tariff issue with others. As noted, my mind on the topic is still open. To hell with your anecdotes.
"Anecdote" doesn't mean what you think it means.

It's a general question. Imagine you're running a business with an 8% profit margin. Your costs just went up by 4% because of tax changes. What do you do?
 
Dec 2018
3,044
2,133
Indiana
"Anecdote" doesn't mean what you think it means.

It's a general question. Imagine you're running a business with an 8% profit margin. Your costs just went up by 4% because of tax changes. What do you do?
Ah, another fantasy scenario.

Bruce Bartlett (former Reagan economic adviser) in the defense of reality:

...most people assume that the corporate income tax is largely paid by consumers of its products or services. That is, they assume that although the tax is nominally levied on the corporation as a whole, in fact the burden of the tax is shifted onto customers in the form of higher prices. All economists reject that idea. They point out that prices are set by market forces and the suppliers of goods and services aren’t only C-corporations, which pay taxes on the corporate tax schedule, but also sole proprietorships, partnerships and S-corporations that are taxed under the individual income tax. Other suppliers include foreign corporations and nonprofits. Therefore, corporations cannot raise prices to compensate for the corporate income tax because they will be undercut by businesses to which the tax does not apply." ...

 
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imaginethat

Forum Staff
Oct 2010
70,571
30,768
Colorado
As a general comment, where does this wisdom of the left go when it comes time to discuss the corporate tax rate?
Meanwhile....

Impeachment: Pelosi prepares
to transmit articles as Trump fumes
Whether or not Nancy Pelosi is the “absolute worst Speaker of the House in US history”, as Donald Trump insisted on Saturday, the Democrat has indicated she will soon transmit two articles of impeachment to the Senate for trial.​
...Democrats want former national security adviser John Bolton and other key Trump aides to appear as witnesses. Bolton has said he will do so if served with a subpoena.​
...Republican senators have followed their leader, regardless of the oath they will take to be impartial jurors....​
...Trump spent the weekend presenting his aggressive moves against Iran as a contrast to alleged Democratic inaction domestically while impeachment has played out.​
Pelosi “is obsessed with impeachment”, he told Fox News host Laura Ingraham. “She has done nothing. She is going to go down as one of the worst speakers in the history of our country. And she’s become a crazed lunatic. But she will go down as, I think maybe the worst speaker in the history of our country.”​
On Sunday morning, Trump demanded that an ABC News host “ask Crazy Nancy why she allowed Adam ‘Shifty’ Schiff to totally make up my conversation with the Ukrainian President & read his false words to Congress and the world, as though I said it? He got caught!”​
...Trump also wanted ABC to ask Pelosi “why hearing was most unfair & biased in history?”​

More: Impeachment: Pelosi prepares to transmit articles as Trump fumes
 
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RNG

Forum Staff
Apr 2013
41,083
29,257
La La Land North
Show us the peer-reviewed research. I'm keeping an open mind until I read what the experts have to say.
Direct input costs and tax burden are not the same things.
This chart from Goldman Sachs shows tariffs are raising prices for consumers and it could get worse
 
Jul 2019
9,832
6,612
Georgia
Ah, another fantasy scenario.

Bruce Bartlett (former Reagan economic adviser) in the defense of reality:

...most people assume that the corporate income tax is largely paid by consumers of its products or services. That is, they assume that although the tax is nominally levied on the corporation as a whole, in fact the burden of the tax is shifted onto customers in the form of higher prices. All economists reject that idea. They point out that prices are set by market forces and the suppliers of goods and services aren’t only C-corporations, which pay taxes on the corporate tax schedule, but also sole proprietorships, partnerships and S-corporations that are taxed under the individual income tax. Other suppliers include foreign corporations and nonprofits. Therefore, corporations cannot raise prices to compensate for the corporate income tax because they will be undercut by businesses to which the tax does not apply." ...

ding ding ding, we have a winner

and the majority of small businesses are S-Corps, Sole-P's or Partnerships, for that reason. And a lot of small businesses (I'm talking real small) that are C-Corps don't pay much at all in taxes either.

lol just realized this thread is about John Bolton's testimony, not sure how it got veered to this, my bad
 
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RNG

Forum Staff
Apr 2013
41,083
29,257
La La Land North
"Anecdote" doesn't mean what you think it means.

It's a general question. Imagine you're running a business with an 8% profit margin. Your costs just went up by 4% because of tax changes. What do you do?
Increases in tax are not an increase in costs. There's yer problem.