Posted on May 7, 2016
Do you believe corporate or social welfare is the bigger problem in our nation?
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Responses: 15
Corporate welfare has a very negative effect and should be reduced/eliminated. It creates an inefficient market. The problem with social welfare, however, is that the way it is set up now contributes to a sense of dependency on the government and propagates poverty into future generations. Helping those in greatest of needs should be a priority for our government, which is why I believe that social welfare reform is necessary.
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SPC Rory J. Mattheisen
SSG Gerhard S. - I disagree, there should be no corporate welfare, if you bankrupt a company it should fold. Corporations are not citizens, and should not be treated as if they are. A company that gets so big that it destroys its own market deserves to close. Banks that prey on Americans should close, with the federal government stripping them and the shareholders of all assets to repay the public.
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SSG Gerhard S.
SPC Rory J. Mattheisen - Respectfully, I agree with your comment above, right up to the last sentence. First of all there is no Constitutional power for the Federal government to act in such a manner. Secondly if a private, (or shareholder) company or a bank folds, why would the "public" be repaid? What has the public to do with a private corporation, particularly if the Federal government were not involved in propping it up, or bailing it out?
The Federal government is tasked with acting "generally" this is what is meant by promoting the "general welfare". This means the Federal government is not to act for the benefit, or destruction of any particular person, or group of persons, any particular corporation, or industry, any State, or group of States. It is to act generally, that is, to act in such a manner that all are affected in a equal manner. So, while I agree that corporations, and people should be free to prosper, or fail, there is no Constitutional language that gives the Federal government the power to lord over those successes, or failures. Those powers, therefore belong to the States, or to the People as described in the 10th Amendment.
Thank you for the thoughtful response. Regards.
The Federal government is tasked with acting "generally" this is what is meant by promoting the "general welfare". This means the Federal government is not to act for the benefit, or destruction of any particular person, or group of persons, any particular corporation, or industry, any State, or group of States. It is to act generally, that is, to act in such a manner that all are affected in a equal manner. So, while I agree that corporations, and people should be free to prosper, or fail, there is no Constitutional language that gives the Federal government the power to lord over those successes, or failures. Those powers, therefore belong to the States, or to the People as described in the 10th Amendment.
Thank you for the thoughtful response. Regards.
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SPC Rory J. Mattheisen
SSG Gerhard S. - I was speaking more towards the all out assault the financial sector launched against the American people up to the 08 crash. They knowingly put their businesses and the money of millions of people in jeopardy and had that many banks closed FDIC would have collapsed along with the fed and the American dollar and ultimately the entire worlds economy. Meanwhile the men and women who got rich by victimizing the people are still on top of the world.
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SSG Gerhard S.
I would add that those banks and investment firms were aided and enabled in their chicanery by our own politicians. Through the Community reinvestment act, and the 1999 repeal of Glass-Steagall act which allowed large investment firms to act as lenders. Add to all this the fact that banks and mortgage firms didn't have to service their own loans and we had a perfect storm of economic disaster. Banks sold off their bad loans, and then securities firms bundled them together, and AIG was largely unknowingly insuring all those bad loans. These banks and investment institutions were shielded from the consequences of their actions, distorting the risk/reward balance, and we did them no favors by bailing them all out. Additionally, our Federal Reserve Bank did us no favors, and is still doing us no favors by keeping interest rates at such a low level, making money so available.... too many dollars chasing a limited number of homes led to the housing bubble, of course this was exacerbated even more by the relaxed lending criteria set forth in the Community reinvestment act, and the banks and financial institutions willingness to exploit those regulations.
I don't think you and I are too far apart on this. Regards.
I don't think you and I are too far apart on this. Regards.
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I'm more concerned (irritated) about the welfare we provide to so-called allies who are as such in name only.
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PO1 William "Chip" Nagel
"USS Liberty: Dead In The Water" (BBC Documentary 2002)
On June 8th, 1965, during the Six-Day War, Israel attacked and nearly sank the USS Liberty belonging to its closest ally, the USA. Thirty-four American servi...
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This graphic was written by a liberal think tank, by the way.
As for tax breaks being considered subsidies, that is deceptive. Perhaps oil has the greatest tax breaks because they have the greatest profits, spend the most money, and are the most widely used?
If you kill a tax break, you kill it for everyone, even non energy companies. Tax breaks are not subsidies. Direct payments are properly targeted and should be more closely scrutinized.
As for tax breaks being considered subsidies, that is deceptive. Perhaps oil has the greatest tax breaks because they have the greatest profits, spend the most money, and are the most widely used?
If you kill a tax break, you kill it for everyone, even non energy companies. Tax breaks are not subsidies. Direct payments are properly targeted and should be more closely scrutinized.
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SPC Rory J. Mattheisen
No company should hold a tax exemption for making to much money. If the average American is taxed on 100% of his/her earnings every person and business should be taxed on 100% of their earnings. If any business is to recieve a tax break it should be the single owner small business not the giant who is creating millionaires and billionaires.
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CSM David Heidke
But we aren't taxed on 100% of our earnings. We have deductions for mortgage interest, charitable donations, and medical expenses above a certain amount. And tons of other deductions that reduce our tax burden.
And companies don't have tax exemptions for "making too much money." They have deductions for the expenses they have, such as payroll, equipment purchases, investments in research, etc... Many deductions that are used by your friendly neighborhood corner store.
I see where you're going with this... I should have seen it in the original post.
And companies don't have tax exemptions for "making too much money." They have deductions for the expenses they have, such as payroll, equipment purchases, investments in research, etc... Many deductions that are used by your friendly neighborhood corner store.
I see where you're going with this... I should have seen it in the original post.
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SSG Gerhard S.
I think everybody should bet a income tax break.... eliminate income taxes altogether, individual, corporate, social security... ALL of them. Here's an example of how this could be accomplished. Keep in mind our "limited" government existed on import/excise taxes for all but the last 103 years of it's existence. If there must be a tax, it should NOT be based upon income..... http://www.fairtax.org
Pass the FAIRtax | FAIRtax.org
FAIRtax.org | Pass the FAIRtax
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SSG Gerhard S.
FAIRtax-What is It? Replaces income tax and payroll tax with sales tax
What is the FAIRtax? Repeal income and payroll taxes, close the IRS and replace with a simple, efficient and visible single rate national retail sales tax co...
A short primer.... https://youtu.be/7b7YrxMjsa0
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We shouldnt have either. No reason any person or business should be paid to exist, or have what they have earned taken from them.
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Education is considered a major factor in lifelong earnings and failure to graduate from high school has a high correlation with poverty level income. I have a SORT OF tongue in cheek proposal. Since the tax code has become a tool to conduct social engineering, what if we rolled with it. I specifically propose a tax on minor children who drop out from school and tax breaks for low-income households where the minor children have superior academic performance. I have not carefully considered the law of unintended consequences, or what would entitle someone to an exemption. But I consider it an interesting concept.
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