koda:
Yes, we do. IMO, we should tax their profits at a very high level.
- how does “taxing their profits at a very high level” encourage companies to stay in the US and not go over seas?
- If the owners of a company do not feel like their investment in their business is worth the effort, they will simply not invest in that business, and people will lose their jobs. A low paying job is better than no job at all
- companies do not pay taxes. They simply raise their prices and consumers pay the taxes. You can call it paying taxes if you like, but if you raise the tax rate, the prices will go up as well. Then poor people will not be able to afford the products.
koda:
Do you want to work for $5 a day and no benefits? Well, nobody else does either.
If you were making $1 a day scrounging through piles of garbage, and a company came in and offered a job for $5 a day, would you not be happy that you increased your income five fold?
Companies may relocate manufacturing operations to countries with a lower wage scale, but the wages they pay are competitive in the areas they relocate to…or they would not be able to attract workers.
So where does that leave US workers? The economy always changes…it does not stay the same. People need to be flexible about get retrained so that their skills will be desireable to other employers.
koda:
Are you suggesting this is what we need to do to be competititve? Send our workers into poverty while the fat cats get fatter?
Unless people are will to pay higher prices for the goods and services they use, companies will continue to keep their cost structures down so they can remain competitive. The “poor” is not a stagnant group of people (at least in the US). People work hard, take risks, improve their skills and marketability, to move out of the group you refer to as poor, all of the time.
koda:
As someone else on this thread has said: it is greed, plain and simple.
No, in the vast majority of cases, its simple business and economics.
While some people at some companies my fall into the “greedy” column, most are not. I know lots of people are complaining about the oil companies record profits. Did you know that their profit margin ranges from 5% - 10%. So out of every dollar of goods sold, they made anywhere from a nickel to a dime. Not exactly “greedy”.