20 comments on “Err, Professor Reich?

  1. I had to become a payday lender recently when a family youngster was screwed for money courtesy of a remorselessly incompetent HR department. Before we hang all the bankers can we hang all the HRbots?

  2. ‘But the tax plan gives American corporations a $2 trillion tax break, at a time when they’re enjoying record profits and stashing unprecedented amounts of cash in offshore tax shelters.’

    They are keeping off shore profits off shore, to keep from having to pay tax on it. The ‘tax break’ would be a reduction from the highest rate in the world, and lead to some repatriation of the cash. Too complicated for the fascist turd.

    ‘That’s because patriotism isn’t mostly about saluting the flag and standing during the national anthem.

    It’s about taking a fair share of the burden of keeping America going.’

    The fascist Left thinks it gets to decide what is patriotism. The entire article is fascist assertions, straight from the Dems’ 50-year old playbook.

  3. The reason they are stashing a lot of cash overseas is to avoid paying the tax currently being levied. Either keep tax rates high, have ever more cash stashed overseas, and receive no tax revenue from that. Or reduce tax rates encouraging companies to bring the money home, pay some tax on it and either spend or invest the rest at home.
    It seems likely the corporations are unpatriotic, but taking that into account is not.
    As to payday loans, if anyone thinks they are making excessive profits they are free to enter the market with their own money and settle for modest ones. Didn’t the CoE have a proposal to do just that? Anyone know how it went?

  4. The reason they are stashing a lot of cash overseas is to avoid paying the tax currently being levied. Either keep tax rates high, have ever more cash stashed overseas, and receive no tax revenue from that. Or reduce tax rates encouraging companies to bring the money home, pay some tax on it and either spend or invest the rest at home.

    Gee, incentives matter. Who’da thunk it?

  5. Pat – “The reason they are stashing a lot of cash overseas is to avoid paying the tax currently being levied.”

    Isn’t it interesting to see so many people who lecture us on being racist and sexist are also keeping their money overseas so that they do not have to pay tax on it.

    Apple for instance. I wonder about Starbucks.

  6. Isn’t it interesting to see so many people who lecture us on being racist and sexist are also keeping their money overseas so that they do not have to pay tax on it.

    When you’re paying tax, well, that’s a good thing.

    When I’m paying tax, well, that’s something altogether different.

  7. Commonwealth of Massachusetts have a voluntary tax rate whereby you can opt to pay at a higher tax bracket for absolutely no benefit other than you pay a higher rate. None of the so called Liberals pays the higher tax rate.

  8. If payday lenders are charging too much, then there is obviously a business opportunity for you, Robert. Not only will it be a stonking success, but all your borrowers will get cheap loans. Time for you to unfold your arms and roll up your sleeves.

    Or is not as simple as that….?

  9. Does anyone know how well endowed this Reich guy is? Would he fit in the same room is Polly and the legendary Cocksman Murphy?

  10. Rocco

    Can you confirm that Murphy swells up impressively when tax rates are high, but suffers detumescence when they are low – a sort of porn reverse Laffer effect?

  11. BF if you even mention taxes declining, Dick the Cock goes limp. It even made the donkey laugh during the arduous shooting of “Despicable Dick 3”, the one where Polly discusses the Laffer curve while Snippa fellates the donkey

  12. Does anyone know how well endowed this Reich guy is?

    Robert Reich is short enough to need a high chair when at a restaurant. Waiters give him a kiddie menu and a bib… without being asked to.

    Suffice it to say is he’s as probably as endowed as Murph.

    Which means you could fit the 3rd Marine Division in that room and still have enough open space for Polly to trip over her own feet and take a faceplant.

  13. Banks (at least in the uk) have been conspicuously absent from that market. Ditto anyone else of scale/reputation (e.g. supermarkets)… is that because it’s PR poison? The shitty edges of that industry might be materially polished if established brands felt able to join in.

  14. Proof again that the Left see taxes not as a way of raising revenue, but as a weapon, a punishment.

    Reduce the rate and increase the revenue? A “no brainer” except for those without a functioning brain.

  15. TTG: The risk profile is very different, and the payday lenders need to do stuff like hassling their clients in a rather more nasty way to control the debt. I can’t see the traditional banks or the likes of Tesco/Sainsbury’s wanting to touch this with a bargepole. The extra hassling cans their brand, or they live with bad debts.

  16. And, as has been pointed out many times, if you eliminate the commercial payday loans operations, their place is likely to be taken by individuals with much more ‘unconventional’ methods of debt collection.

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