Gabbard released legislation on Friday, known as the Pandemic Crisis Excess Profits Tax, to ensure that corporations such as Amazon, Facebook, Walmart, and Google are not profiting off economic shutdowns that have helped clear the market of their competition.
-Steve
I'm not sure how I feel about this one. I do believe that crony capitalism is a real and pernicious thing. I do believe that the governments' "MUST DO SOMETHING NOW!!1!" responses to teh covids was inept. I do believe that small business have been unfairly and specifically singled out. I do believe that the big retailers were unfairly favored.
ReplyDeleteI also believe almost all legislation is presented mendaciously and that it will have harmful unintended consequences beyond the secret intended evil consequences.
I just don't know.
Excess profits? How much money is anyone allowed to make before it is excess?
ReplyDeleteWhen I get taxed to "Keep the sea-lanes open" so the multi-nationals can ship our jobs overseas then make us pay to protect their chinacheap goods being shipped back to the US, Fxxx em. When facebook and google are putting their thumbs on the scale of political speech while enjoying safe harbor protections courtesy of the US tax payer, Fxxx em. Tax them at 120%.
DeleteWhy is it that the owners of every business-small, medium, or large-all know that profit is not a dirty word?
DeleteAnd why is it that every pandering politician treats profit as if it were the plague?
Personally, my take is it has something to do with the difference between workers and parasites.
I am not a proponent of redistribution of other people's money to other people who do not have much money.
DeleteThe point here is that the big box stores and the on line stores are wide open while the millions of small businesses are forced closed ... and many small biz owners and their employees are losing their homes, their savings, their jobs, and in some cases their very lives.
This is unfair and it is prompted by the desire of the elites to rid the world of the middle classes.
So in this case I believe it would be only fair to tax the windfall profits of those large companies who are getting this windfall because all the competition in the retail sector is shut down by idiotic governments.
Apparently 5%.
DeleteI give that idea a July snowballs chance.
ReplyDeleteSounds like a commie...please define "excess profits".
ReplyDeleteThose multi-nationals use the power of the state, paid for by the US tax payer to make their profits. Tax them at 120%. Wal Mart used to be "Buy American". Now it is "All China all the time!".
DeleteHead case. Thankfully she is leaving.
ReplyDeleteShe can give me head anytime.
DeleteI would like to see her start a family, have 4 kids, work a job, and then tell us what we don't already know.
Delete"Take from the rich, give to the poor"*
ReplyDelete*Less small administrative fees.
Arrows costeth, good peasant.
Delete- Robin Hood
People calling this communism need to get over their brainwashing. These multinationals have been slowly killing our country for decades and they own the politicians. This will never pass, but it should.
ReplyDeleteThose in opposition who think they are defending capitalism need an outlook readjustment up side the head with a chair.
DeleteIf you think the crony capitalism conspiracy that the big retailers and the government has been engaged in under the excuse of the Wuhan virus to drive the little guys under has any resemblance to capitalism and free markets, you need to go sober up.
Eh, I'm torn on this one. I don't like the idea of such laws, but if anyone thinks there is fair competition between mom-and-pop businesses versus Walmart, Amazon, Home Depot, McDonald's, etc they're either SERIOUSLY not paying attention, or they're dumb as a box of retarded rocks. This corona bullshit has definitely skewed the field even more toward the megacorporations. The destruction of small businesses was not an unintended side effect. It's deliberate enemy action.
ReplyDeleteI am a capitalist through and through as where my beliefs lie. However tyrannical rules as in the times we are in right now I would support this 110%. This plan dimmick has been nothing more than a multifaceted transfer of wealth to the elites. But don't get me wrong I would give every penny I have just to see them arrested tried and hung.
ReplyDeleteI'm with you. I'm all for meritocracy and competition but the governments are dry fisting small businesses by forcing them to close - enters the Amazons of this world, taking it all. Can't be like that. It's either free market or not. And right now, it sure ain't.
Deleteexcess profits. Ah yes, the "excess profits" gambit. Definition and methodology on determining such first.
ReplyDeleteBetter idea - close down Wal-Mart and other massive corps four days out of the week and allow Mom 'n Pop stores to remain open all the time for a year. Give them time to catch up.
ReplyDeleteI like that one.
DeleteGovernment coming up with a solution to a problem that they caused in the first place. Property rights are vitally important if you want to have a functioning economy. People who think that it is ok for the government to just arbitrarily take other people's stuff never think that they will be next.
ReplyDeleteIsn't it great they are going to give us some of our money back.
ReplyDeleteI am against economic sanctions on Americans mandated by government. Yes, that includes what Chris Mallory said. It is government which created this mess and now it is government proposed to solve the mess? Insanity.
ReplyDeleteLockdowns and favoring big corps over small business is about destroying the middle class. Its one step towards universal basic income. It was pretty funny - not in a good way - reading of Warren Buffett and the Chase Bank CEO saying the government should give more money to small businesses.
Obviously this is idealistic dreaming with no anchor in reality. Yes I'm ticked off about the money these jerks made from this scamdemic but invoking the tactics of the communists is not the way to right the wrongs. As long as we are cruising through fantasyland, I'll share mine: repeal ALL the laws restricting a free market economy, make government step back so we citizens can roll up our sleeves and get to work. We would outpace every economy in the world within six months.
ReplyDeleteI don't think that the solution of a problem caused by government is more government. I'd like to see the small businesses made whole, but this is not a good way to do it.
ReplyDeleteAs for the legislation itself, it's not going anywhere in this session. This is all posturing.
We the people are going to be required to band together and take away the abilities of these tinpot dictators to force us to "mask-up, lock-down, and eat shit". I doubt many people understood govs & mayors had such powers, and certainly not for a virus not much more lethal than the flu.
ReplyDeleteIf we were talking deaths to 1 in 3 infected, that's one thing, but for a bug with a quarter of one percent death rate, all this shit is just ridiculous!
And allowing the "big-box" stores to remain open makes it pretty obvious, these restrictions are all about the MONEY!
Government created and exacerbated the problem (most problems actually) - government can take the same pay cut it's demanding of the middle class.
ReplyDelete