Who Pays for Taxing the Big Corporations? Investors -- that means you, wannabe retirees.
Some of the Democratic presidential candidates propose that we can pay for their programs by taxing the rich and the big corporations. I'm not going to address the rich at the moment, but let's talk about the big corporations.
The candidates say "Let's reign in those greedy corporations! They are getting rich at our expense! Why should they be so profitable, when we could use those profits to pay for our programs?", or words to that effect.
Here's my reality check for those of you that have saved all your life to retire. If you are invested in the stock market, and chances are very good that you are, then who do you think will pay for "free education", education loan paybacks, etc.? By these candidates analysis. The corporations will pay, with a benefit to all.
No, you the almost retired (count me among those hoping to retire within the next 5-6 years), will pay for these programs. I will pay for these programs out of my retirement when equity values fall.
We saved a portion of our income for years of our adult life -- making the choice to not buy everything we could afford. By working consistently and hard, we paid for our college expenses (or earned scholarships), and paid off our college loans. We didn't place our experiences above our finances and financial obligations. Don't get me wrong, we had a lot of great experiences, but we didn't have time to walk the beaches of the world at the expense of our financial future.
Now, we have a college loan crisis, we need "free" education, we need to get back at those "rich" corporations. So, when we tax those corporations to pay for the "free" programs, corporate profits fall. When corporate profits fall, corporate values fall. When corporate values fall, my retirement savings gets smaller... and I get to keep working!
No thank you! I think those folks that made the decision to borrow too much to go to college should get to work. I think there is value in knowing that making an investment in yourself to grow and learn at college is your decision and the payoff you get is largely up to you. Make the best of it, like I did, and pay for it yourself.
So, do free programs get my vote? Nothing is free, so the answer is absolutely not. These free programs are not a tax on the rich, they are a tax on the fiscally responsible middle class.
The candidates say "Let's reign in those greedy corporations! They are getting rich at our expense! Why should they be so profitable, when we could use those profits to pay for our programs?", or words to that effect.
Here's my reality check for those of you that have saved all your life to retire. If you are invested in the stock market, and chances are very good that you are, then who do you think will pay for "free education", education loan paybacks, etc.? By these candidates analysis. The corporations will pay, with a benefit to all.
No, you the almost retired (count me among those hoping to retire within the next 5-6 years), will pay for these programs. I will pay for these programs out of my retirement when equity values fall.
We saved a portion of our income for years of our adult life -- making the choice to not buy everything we could afford. By working consistently and hard, we paid for our college expenses (or earned scholarships), and paid off our college loans. We didn't place our experiences above our finances and financial obligations. Don't get me wrong, we had a lot of great experiences, but we didn't have time to walk the beaches of the world at the expense of our financial future.
Now, we have a college loan crisis, we need "free" education, we need to get back at those "rich" corporations. So, when we tax those corporations to pay for the "free" programs, corporate profits fall. When corporate profits fall, corporate values fall. When corporate values fall, my retirement savings gets smaller... and I get to keep working!
No thank you! I think those folks that made the decision to borrow too much to go to college should get to work. I think there is value in knowing that making an investment in yourself to grow and learn at college is your decision and the payoff you get is largely up to you. Make the best of it, like I did, and pay for it yourself.
So, do free programs get my vote? Nothing is free, so the answer is absolutely not. These free programs are not a tax on the rich, they are a tax on the fiscally responsible middle class.
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