DShields, I’d say the subject of price inelasticity and corporations attempting to pass through taxation costs to consumers has been well covered on another thread. If you still don’t believe this, than recall the luxury tax debacle that was attempted some years back. A complete failure as people just refused to buy luxury goods when assesed a cost increase of 10%, which damaged companies as they sold fewer products and the government actually lost tax revenue.
To this I would add that some consideration for the hundreds of billions in cash that the multi-nationals are sitting on, as further evidence of where the money went. As to the largesse that your employer has exhibited, I believe you have said you’re a Wall Street trader, and we are well familiar with the acts of generosity from this group.
Why so eager to let corporate America off the hook for “legalized” stealing of our tax dollars and cheating the rest of us out of sufficient revenue to run a country- then immediately announcing to the world that the collective conclusion is……….that we had better cut spending as the worthless entitlement recipients have done it again?
Some may find this logic compelling – but I don’t.
Not to say that I am against spending cuts- I am not, but most certainly not under these circumstances.