Peter Schiff explains why we are already communist

[Vteckidd]

http://www.youtube.com/watch?v=omsBl...layer_embedded

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Not single fuck is given about the increase of corporate taxes. The way I see it, an increase of the cost to gamble with the world economy is a good thing. If you feel as a millionaire/billionaire the extra couple bucks you spend to gamble your own money is too much, don't play. Simple as that. I feel not one iota of sympathy for this. The gentlemen that fucked it up (the economy) should bear the burden of fixing it.

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BTW, nice job Peter Shiff for trying to draw a parallel between an increase in corporate taxes and communism. I'll give you an F for effort and an A for alarmism.

[BanginJimmy]

Not single fuck is given about the increase of corporate taxes.

You will when the cost of everything you buy goes up to pay those taxes. CORPORATIONS DO NOT PAY 1 SINGLE PENNY IN TAXES. You, the consumer, pay the taxes. Increase the taxes by 1%, you increase the price by 1%.

The way I see it, an increase of the cost to gamble with the world economy is a good thing. If you feel as a millionaire/billionaire the extra couple bucks you spend to gamble your own money is too much, don't play. Simple as that. I feel not one iota of sympathy for this.

You obviously have no clue what you are talking about. The money that people invest drives our economy. Lower the reward without lowering the risk and smart investors dont invest. Small business that is trying to make it into the big leagues pays heavily if investors arent willing to take the risk. Guess who else pays the price, every single retirement plan and interest bearing account you and everyone else in the country have. Want to raise capital gains taxes to 20%, your retirement plan grows at a 5% lower rate. 30%, your retirement plan grows at a 15% slower rate.

The gentlemen that fucked it up (the economy) should bear the burden of fixing it.

So the govt should bear the burden? The people that purchased homes they couldnt afford should bear it? Wall St. had their hand in it, but there would be no pot for Wall St. to dip into if it wasnt for govt mandates and stupid buyers.

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You will when the cost of everything you buy goes up to pay those taxes. CORPORATIONS DO NOT PAY 1 SINGLE PENNY IN TAXES. You, the consumer, pay the taxes. Increase the taxes by 1%, you increase the price by 1%.

You'd think they'd be directly related like that, but they're not, as we've seen when taxes have down, the price of consumer goods remains the same, except businesses pocket the extra cash. So they may go up if corporate taxes increase, but not because it's gonna be any shit off their back, but because they want to keep their pockets lined.

The money that people invest drives our economy.

Some, but it doesn't have anywhere near the effect that consumer spending does, as we can plainly see. But yeah, we've seen exactly what Wall St. gambling can do to the economy.

So the govt should bear the burden? The people that purchased homes they couldnt afford should bear it? Wall St. had their hand in it, but there would be no pot for Wall St. to dip into if it wasnt for govt mandates and stupid buyers.

No, I meant Wall St. The MAJOR player.