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Comment: Re:Arrogant bastards (Score 1, Interesting) 234

Comment: Re:Banksters (Score 1) 629

by PopeRatzo (#49770731) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

Utter nonsense. Yes, in some cases that may be the effect, but it's certainly not the design.

The "design" doesn't matter in this case. The biggest companies in the world are ignoring that design.

By design, boards of directors are intended to serve the same role that elected political representatives do for citizens of a nation; to represent the interests of the voters.

Don't we have enough evidence that when the corrupting influence of money gets enough, elected political representatives no longer represent the interest of the voters?

That just indicates that regulators are not making the fines large enough. If regulators want to use financial penalties, they have to make them large enough that bad actions are unprofitable.

That's not going to happen as long as the regulators are former bankers. There's a revolving door between regulatory agencies and the industries they regulate.

We have to evaluate the system we have, not the ideal or the system we wish we had. This is late-stage capitalism and we have to evaluate it on it's merits.

Comment: Re:To be more precise, Amazon will collect on taxe (Score 1) 238

by PopeRatzo (#49769383) Attached to: Amazon Decides To Start Paying Tax In the UK

Example 2: There are 50 auto dealers in a state. The state raises taxes on car dealers 30%. Now all dealers raise their prices 30%.

Now I ask you "Who is paying that 30% increase?"

God, can your math really be that bad? If the state raises taxes on car dealers by 30%, as you say, and the tax goes from 3% to 4%, why would that require the car dealers to raise the prices of their cars 30%?

That's the first problem with your comment.

Second is the fact that some of the car dealers may choose to let their profits fall the additional 1% (from the taxes being raised from 3% to 4%) and they'll keep their prices lower than the dealers who chose to raise prices and end up being the most successful dealer in the state.

When their competition, and when there's not market consolidation to the extent that it causes concentrated pricing power, taxes will not raise prices significantly.

Let's let Bruce Bartlett, a former economic adviser to Ronald Fucking Reagan explain why "corporations don't pay taxes" is a myth:


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