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I’m conflicted about this issue of raising taxes?

I’m conflicted about this issue of raising taxes? I supported the idea of raising taxes on big corporations and oil companies because they do everything for profit and don’t care that they screw over hard working people. Lately, I’ve come to find out because of the high taxes these corporations pay,they ship jobs overseas to make profit off of cheap labor. Also, these oil companies would invest in alternative energy source technologies if the government just lets them breathe. What do you think is the best to solve this problem?

Asked By: Janet VdL - 8/16/2008
Best Answer - Chosen by Asker
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Answered By: Louis S - 8/16/2008
Additional Answers (18)
You raise a corporation's expenses, they look for ways to cut costs (e.g. labor, quality) or increase income (e.g. raising prices)
Answered By: Tyler M - 8/16/2008
 
Basically corporations are like individuals. If you tax individuals enough, they will not spend any money because they will have none left after paying for their basic survival. Individuals are out to make a profit in a sense to when they work, but it manifests itself different for obvious reasons... More
Answered By: Ryan - 8/16/2008
 
J, did you know the banking industry made like 400 billion dollars in 2007? The Telecom companies (Sprint, MCI, Verizon) grew by 16%. The High Tech industries grew at over 14%. Why does everyone blame the oil companies for everything? Did you know that for the first 2 quarters of 2008, Exxon-Mobil paid 69 Billion... More
Answered By: aiminhigh24u2 - 8/16/2008
 
Yes & if Obama wins it only gets worse- no matter what his supporters think. Had we not had the Iraq war- the economy would be great right now. Lower taxes bring in more and more new businesses- which brings more jobs, better pay, lower prices (due to more competition). I am not that pleased with McCain myself but... More
Answered By: Beverly S - 8/16/2008
 
History shows that lower taxes on corporations actually brings in more revenue and production. Every economist has critisized Obama's plan to raise taxes.
Answered By: tys7344 - 8/16/2008
 
Funny how govt's spend every dime of $$ and still want more.They fund things that are a pure waste of money and yet want more. The govt's job is not to do anything but our security and promote the well-being of the citizens. JOBS.!! Not welfare, funding arts, bailing out irresponsible people-banks-countries-illegal... More
Answered By: Dennis P - 8/16/2008
 
There is plenty to be conflicted about. Taxing the giants does not help because eventually they pass the cost down to us. The oil companies are another matter. They are monopoly's and being such the governments has controls to stop them. The problem is they do not want to do anything to offend them. We give them... More
Answered By: PARVFAN - 8/16/2008
 
It isn't wise to raise taxes on an economy that is already heading into a recession. No one wins!!
Answered By: extremefaithinhim15666 - 8/16/2008
 
The amount of tax they pay would be relevant to the amount of profit they make... More
Answered By: ABBABABE - 8/16/2008
 
The GOA this week announced that over 80% of corporations don 't pay taxes. So if they are not paying them now why would they pay them if we lower them... More
Answered By: CH - 8/16/2008
 
You're on the right track... More
Answered By: janie - 8/16/2008
 
The real story is that Bush cut the taxes on corporations and wealthy but the jobs were shipped overseas anyway. It is the nature of capitalism; wealthier wants to get more wealthier. The question is that the US got to pay its debts and there is no other way except to raise the taxes on reach people.
Answered By: No More - 8/16/2008
 
This is very simple. Oil companies, like any company pay taxes. Taxes are ALWAYS passed on the the consumer. Raise taxes for oil companies, pay more at the pump, simple. Force oil companies to pay consumers $1000 dollars, (Obama plan) oil companies raise the price of fuel to cover the cost... More
Answered By: wally59 - 8/16/2008
 
Its a question of balance .... How much do you pay vs. what you get in return.. Thats why there is so much class divide between Democrats and Republicans..
Answered By: Tony H - 8/16/2008
 
Troll on girlie
Answered By: Comrade Coleman - 8/16/2008
 
If you had a credit card and ran up a ten trillion dollar tab, do you suppose that it would pay itself off... More
Answered By: brown9488@att.net - 8/16/2008
 
"CH" left out a lot of information from that GAO report. Yes, 23% of large corporations did not pay income taxes; but the poster neglected to mention that that number in down from 38% in 2001... More
Answered By: wichitaor1 - 8/16/2008
 
Corporations pay no taxes. They pass it on to the consumer. Obama stated that the oil companies make $4000 a minute in profit, he left out that they pay $14,000 a minute in taxes. He also neglected to state that the Government takes 50 percent in royalties from the oil recovered from their wells before it is refined or... More
Answered By: ohbrother - 8/16/2008
 
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