NYTimes
[quote] Emerging on the campaign trail in Iowa after largely shunning the state, Mitt Romney was confronted on Thursday by hecklers on corporate tax policy and told one of them, “Corporations are people, my friend.â€
‘Corporations Are People,’ Romney Tells Iowa Hecklers
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frigidmagi
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#1 ‘Corporations Are People,’ Romney Tells Iowa Hecklers
"it takes two sides to end a war but only one to start one. And those who do not have swords may still die upon them." Tolken
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Destructionator XV
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#2
I don't know, it seems to me that the Internet is taking it out of context. [edit: that is, "corporations are people" sounds silly in a lot of contexts, but taxing income really isn't one of them.]
What he says is true enough: the money corporations make does go to people. Corporate taxes are arguably bad for common folks because it reduces dividends for everybody. Individual income taxes can be targetted to richer people through the progressive bracket system.
Of course, there's so much convolution in the tax system that I'm not sure this is necessarily true, but I'm at least as sure Romney's statement has basis in reality.
On the other hand:
“I’m not going to raise taxes — that’s my answer,”
That's the quote I'd focus on, not the corporations one. This doesn't strike me as fiscally responsible.
What he says is true enough: the money corporations make does go to people. Corporate taxes are arguably bad for common folks because it reduces dividends for everybody. Individual income taxes can be targetted to richer people through the progressive bracket system.
Of course, there's so much convolution in the tax system that I'm not sure this is necessarily true, but I'm at least as sure Romney's statement has basis in reality.
On the other hand:
“I’m not going to raise taxes — that’s my answer,”
That's the quote I'd focus on, not the corporations one. This doesn't strike me as fiscally responsible.
Last edited by Destructionator XV on Sat Aug 20, 2011 7:44 pm, edited 1 time in total.
Adam D. Ruppe
Oh my hero, so far away now.....
#3
I've heard this idea before, but Romney seems to be confusing two ideas.
The first idea is that corporations are legally "persons", meaning that they've got their own finances. The pro-business people have been increasing this "personhood" for some time now, for example the Supreme Court recently ruled that corporations have got full free speech rights. The other idea is that any taxes on corporations ultimately are going to be moved onto the people.
The first idea is a really dubious one, just because they've got their own independent finances doesn't make them "people" in the fullest sense. After all, they can't run for office and you can't put them into jail. The second holds some more water, if corporations get taxed, the price of their products go up, their shareholders make less money, and they hire fewer workers. So people ultimately pay the taxes corporations pay.
But Romney showed some bad PR the way he said that. I thought he was more savvy than that.
The first idea is that corporations are legally "persons", meaning that they've got their own finances. The pro-business people have been increasing this "personhood" for some time now, for example the Supreme Court recently ruled that corporations have got full free speech rights. The other idea is that any taxes on corporations ultimately are going to be moved onto the people.
The first idea is a really dubious one, just because they've got their own independent finances doesn't make them "people" in the fullest sense. After all, they can't run for office and you can't put them into jail. The second holds some more water, if corporations get taxed, the price of their products go up, their shareholders make less money, and they hire fewer workers. So people ultimately pay the taxes corporations pay.
But Romney showed some bad PR the way he said that. I thought he was more savvy than that.
Last edited by The Minx on Sun Aug 21, 2011 9:56 am, edited 2 times in total.
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