Steve Wynn unloads on Obama and explains why there are no jobs.

[werepossum]

Taxes are at historic lows, no one is raising any tax rate to 80%.

"In 2004, the corporate lobby got together and major employers like Cisco and Apple and GE begged congress to give them a “one-time” tax holiday, arguing that they would use the savings to create jobs. Congress, shamefully, relented, and a tax holiday was declared. Now companies paid about 5 percent in taxes, instead of 35-40 percent.

Money streamed back into America. But the companies did not use the savings to create jobs. Instead, they mostly just turned it into executive bonuses and ate the extra cash."
http://www.rollingstone.com/politics/blogs/taibblog/holiday-in-scambodia-20110720

It's the same song and dance over and over, just give us X and we'll create Y number of jobs - only it never pans out. Too much is never enough and there will ALWAYS be some impediment, if we could just get this one regulation removed, the well would overflow as never before!

I'm tired of this game, aren't you?

You are missing Lithium's point. Raising taxes or regulatory costs makes some jobs - even some entire divisions and/or plants - not worth operating. This is true always, but doubly so in a scary business climate. Thus raising corporate taxes (including those high earners running small businesses) usually costs some jobs as jobs with marginally attractive ROIs are ended or outsourced to nations with cheaper labor. This is why raising corporate and high earner taxes does not necessarily raise tax revenue - unless you pull a Clinton and raise rates retroactively.

 

[ProfJohn]

Expenses are tax deductible for businesses.

And what is your point??

They are still an expense that has to be paid by the company.

 

[theeedude]

And what is your point??

They are still an expense that has to be paid by the company.

It's an expense that's unrelated to the tax rate.