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Completely Unwoven: Business, Economics, and Tax Policy 4.0

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  • #646
    Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

    Originally posted by 5mn_Major View Post
    Depends on whether there's price elasticity and the market can bear a price increase.
    Originally posted by FreshFish View Post
    not really, someone pays somehow and it is never the corporation itself. employees get fired, shareholders see losses instead of profits, suppliers don't get paid on time, it is not only customers who pay the tax. someone else always pays the tax, it is never the corporation that pays it. that's just how accounting works.
    By that logic, there is never any corporate gains or losses for anything. In reality, its either customers or the company because the other groups you mentioned are the company.

    Customers take the hit 1) if companies know to pass on the costs and 2) due to elasticity can do so. Otherwise, pretty much the company takes the hit. If employees get fired due to tax, then the company's capability weakens...and that could continue and continue until there is no company left. You don't pay suppliers and they stop selling you product. Other suppliers take notice (they are competitors but they will not risk shipping you product and not being paid). If you have no suppliers, you won't have any customers. Lastly, share price is the health of the company by definition. So if share price goes down, the company was just damaged. Shareholders care because they are owner. If you Mr. CEO don't really care about share price, you also best not care about your job.

    The question is whether the cost can be passed on to consumers or not. The other outcomes you mention are all recipes for how companies fail.
    Go Gophers!

    Comment

    • #647
      Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

      It's rare that there's a complete pass through in taxes levied. Try as a business may, they ultimately absorb some of the costs. Even the sales tax gets put back onto the business to some degree or another. In this specific case, it forces a business to lower its prices by some portion of the expected sales tax value.
      "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

      "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

      "Good news! We have a delivery." Professor Farnsworth

      Comment

      • #648
        Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

        Originally posted by St. Clown View Post
        It's rare that there's a complete pass through in taxes levied. Try as a business may, they ultimately absorb some of the costs. Even the sales tax gets put back onto the business to some degree or another. In this specific case, it forces a business to lower its prices by some portion of the expected sales tax value.
        Yes, this is congruent to what I had tried to say, phrased differently: eventually there is a person somewhere who pays the ultimate cost. The "business" eventually allocates those costs you describe to the owner or to the employee.
        "Hope is a good thing; maybe the best of things."

        "Beer is a sign that God loves us and wants us to be happy." -- Benjamin Franklin

        "Being Irish, he had an abiding sense of tragedy, which sustained him through temporary periods of joy." -- W. B. Yeats

        "People generally are most impatient with those flaws in others about which they are most ashamed of in themselves." - folk wisdom

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        • #649
          Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

          I had to do some research about technical details of charitable deductions, and so needed to read through Internal Revenue Code Section 170.

          I came upon this gem in IRC Section 170(m)(10)(n):

          "Expenses paid by certain whaling captains in support of Native Alaskan subsistence whaling" which is further broken down into 1-4, and 2 is broken down into A and B, and B is broken down into i, ii, and iii.

          So 170(m)(10)(n)(2)(b)(ii) says that "the supplying of food for the crew and other provisions for carrying out such activities" is included in this particular charitable deduction.
          "Hope is a good thing; maybe the best of things."

          "Beer is a sign that God loves us and wants us to be happy." -- Benjamin Franklin

          "Being Irish, he had an abiding sense of tragedy, which sustained him through temporary periods of joy." -- W. B. Yeats

          "People generally are most impatient with those flaws in others about which they are most ashamed of in themselves." - folk wisdom

          Comment

          • #650
            Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

            Originally posted by FreshFish View Post
            I had to do some research about technical details of charitable deductions, and so needed to read through Internal Revenue Code Section 170.

            I came upon this gem in IRC Section 170(m)(10)(n):

            "Expenses paid by certain whaling captains in support of Native Alaskan subsistence whaling" which is further broken down into 1-4, and 2 is broken down into A and B, and B is broken down into i, ii, and iii.

            So 170(m)(10)(n)(2)(b)(ii) says that "the supplying of food for the crew and other provisions for carrying out such activities" is included in this particular charitable deduction.

            Trump's your guy!

            Let's start ****ing over the Alaskan natives now!
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            When the giraffes start building radio telescopes they can join too.
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            • #651
              Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

              USD/Euro getting very close to 1:1. http://www.google.com/finance?q=EURU...KY_ujAGHqobwCA

              Comment

              • #652
                Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                Originally posted by FlagDUDE08 View Post
                USD/Euro getting very close to 1:1. http://www.google.com/finance?q=EURU...KY_ujAGHqobwCA
                That has to make people wonder about the stability of the EU in general. Three years ago it was almost 1Euro:1.40USD.
                "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                "Good news! We have a delivery." Professor Farnsworth

                Comment

                • #653
                  Originally posted by St. Clown View Post
                  That has to make people wonder about the stability of the EU in general. Three years ago it was almost 1Euro:1.40USD.
                  Yeah....when I lived there and was getting paid in dollars...

                  Thanks, Obama!
                  If you don't change the world today, how can it be any better tomorrow?

                  Comment

                  • #654
                    Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                    Originally posted by St. Clown View Post
                    That has to make people wonder about the stability of the EU in general. Three years ago it was almost 1Euro:1.40USD.
                    If that were the case, USD/GBP would still have a large ratio (was close to 2:1 around the time). Presently, it's about 5:4. I'd say the dollar is getting stronger.

                    Comment

                    • #655
                      Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                      Originally posted by FlagDUDE08 View Post
                      If that were the case, USD/GBP would still have a large ratio (was close to 2:1 around the time). Presently, it's about 5:4. I'd say the dollar is getting stronger.
                      What's going on in GB right now that could possibly affect the GBP?


                      Here's a hint: It begins with a BR, and rhymes with "exit."
                      "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                      "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                      "Good news! We have a delivery." Professor Farnsworth

                      Comment

                      • #656
                        Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                        Originally posted by St. Clown View Post
                        What's going on in GB right now that could possibly affect the GBP?


                        Here's a hint: It begins with a BR, and rhymes with "exit."
                        Funny thing is, Mark Cuban thought electing Trump would cause US markets to tank, just like 2008. Dead wrong.

                        Rejection of global centralization seems to actually be making things stronger. The Yuan's about where it always is, but China's been manipulating their currency to screw us over for as long as I can remember. Canuck bucks are around 4:3. Not quite like the 3:2 we saw in the mid-90's, mind you...

                        Comment

                        • #657
                          Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                          Originally posted by FlagDUDE08 View Post
                          Funny thing is, Mark Cuban thought electing Trump would cause US markets to tank, just like 2008. Dead wrong.
                          Is it January 19, 2020 yet?
                          Cornell University
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                          • #658
                            Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                            Originally posted by Kepler View Post
                            Is it January 19, 2020 yet?
                            Remember when y'all told us that you had survived Bush, and that we'd survive Obama? Well, we survived Obama. You will survive Trump.

                            Comment

                            • #659
                              Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                              Originally posted by FlagDUDE08 View Post
                              Funny thing is, Mark Cuban thought electing Trump would cause US markets to tank, just like 2008. Dead wrong.

                              Rejection of global centralization seems to actually be making things stronger. The Yuan's about where it always is, but China's been manipulating their currency to screw us over for as long as I can remember. Canuck bucks are around 4:3. Not quite like the 3:2 we saw in the mid-90's, mind you...
                              The difference being that when the Brexit vote came through, most everything in GB did tank with regards to the global markets. Their stock market took a dive as did their currency against both the EUR and USD.

                              We've increased interest rates domestically, which should inherently increase the USD in the FX markets during the short-term, but long-term values will depend upon a great many other factors, including the strength of foreign nations' economies. It's possible for the USD to increase in value even though the US economy were to go into a recession so long as we're the best loser compared to other global economies.
                              "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                              "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                              "Good news! We have a delivery." Professor Farnsworth

                              Comment

                              • #660
                                Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                                Originally posted by FlagDUDE08 View Post
                                Remember when y'all told us that you had survived Bush, and that we'd survive Obama? Well, we survived Obama. You will survive Trump.
                                Short of a nuclear war caused by Trump getting mad at the quality of his ties, of course I'll survive. I'm an educated, upper-middle class white male smart enough to stick a cross on my mailbox and mumble Kyrie eleison when the Christian Sharia Patrol rolls by. I'm not worried about me.
                                Cornell University
                                National Champion 1967, 1970
                                ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                                Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

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