Biden's tax hike simplified.

[Grandpappy]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

 

[Man0in3Black]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

A link would be pretty sweet to see

 

[mike2810]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

Will Toyota, Nissan, Mazda cars built in American be subject to the tax? Yes or No.

With Trump's cooperate tax cuts did the price of a Ford, Chevy and Dodge go down? Hint. Nope. You didn't expect them to pass the savings on to the buyers did you?

 

[Grandpappy]

Will Toyota, Nissan, Mazda cars built in American be subject to the tax? Yes or No.

With Trump's cooperate tax cuts did the price of a Ford, Chevy and Dodge go down? Hint. Nope. You didn't expect them to pass the savings on to the buyers did you?

Is the company headquartered in the USA? Some parts from US suppliers may be subject to the hike, but not corporate profits..

 

[Drawdown]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

Funny thing is, Biden doesn't man skirting paying taxes on his 4 million dollar income https://foxbaltimore.com/news/natio...loophole-obama-sought-to-eliminate-10-23-2020

 

[Grandpappy]

I work for dealer that sells American cars. This is the biggest reason I don't like Biden. My job, my pay. Yours, too. What comes around, goes around.

 

[mike2810]

Is the company headquartered in the USA? Some parts from US suppliers may be subject to the hike, but not corporate profits..

Thanks for the reply.
Noted. You did not address the failure of Ford , Chevy and Dodge to reduce the prices even though they got a tax break under Trump.

 

[Rogue Valley]

Thanks for the reply.
Noted. You did not address the failure of Ford , Chevy and Dodge to reduce the prices even though they got a tax break under Trump.

Because his Opening Post is merely a clumsy attempt at baseless Trumpland fear-mongering.

Trumpers believe everyone else is as simplistic and naïve as they are.

 

[Exquisitor]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

Well, if you keep thinking like this you're going to get Trump again.

And remember it was Hillary or Trump.

Biden will be better.

Bad Democrat is better than a good Republican.

 

[Exquisitor]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

This is the crux of the issue in the bid for the Senate.

 

[rickc]

The idea that cost like tariffs and taxes are passed directly to the consumer is BS. They eat the cost at first and gradually add in what they have to. An abrupt price change would send consumers looking elsewhere or putting off a purchase.

When oil prices go down do they lower the price of gas right away? But it always goes up right away.

You have to buy gas but you can put off a new car purchase.

 

[Casper]

I work for dealer that sells American cars. This is the biggest reason I don't like Biden. My job, my pay. Yours, too. What comes around, goes around.

So you work for one of American Manufactures that got bailed out by Obama/Biden, we do you bite the hand that feeds you?

 

[Grandpappy]

So you work for one of American Manufactures that got bailed out by Obama/Biden, we do you bite the hand that feeds you?

Actually, not all took a bailout.
The three US car manufacturers are very competitive and will of course use a tax cut to lower prices. It's called a free market.
I'll explain something else.
Remember when Bernie and Warren came up with that tax on stock trades?
Well, Biden can't do that because he's taken millions from Wall Street.
Don't you wish we had real journalists? I certainly do.

 

[jonny5]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

Its not that simple. Ford has many options for absorbing that tax. They could fire people, reduce wages, hours, promotions, research, pay less dividends to shareholders. Ultimately, yes, every dollar in tax a corporation pays has to come from revenue, but revenue doesnt necessarily have to increase with a tax.

The end result is likely slower growth, everything else being equal.

 

[Grandpappy]

The end result is a disadvantage for American companies.

 

[mike2810]

Maybe Trump is not as America First as he says.

"Tax cuts signed by an America First president are turning out to be a major boon to some of the world’s biggest automakers -- except those based in the U.S.

General Motors took a $7.3 billion charge in the fourth quarter because the assets it racked up from having reported years of losses in the past are no longer as valuable with the lower U.S. corporate tax rate. Ford Motor Co. has forecast an adjusted effective tax rate of about 15 percent this year, about the same as what it paid in 2017.

Compare that with the big boost Japanese and German automakers expect from President Donald Trump’s tax bill. Owing less to Uncle Sam will lift profit by about 346 billion yen ($3.1 billion) at Honda Motor Co. and 290 billion yen at Toyota Motor Corp. in the fiscal year ending in March, according to the companies. Mercedes-Benz maker Daimler AG reported a favorable impact of about 1 billion euros ($1.2 billion) to 2017 profit.
"

GM, Ford miss out on tax benefit Trump hands to foreign automakers

DETROIT -- Tax cuts signed by an America First president are turning out to be a major boon to some of the world’s biggest automakers -- except those based in the U.S. General Motors took a $7.3 billion charge in the fourth quarter because the assets it racked up from having reported years of…

www.autonews.com

 

[Grandpappy]

Maybe Trump is not as America First as he says.

"Tax cuts signed by an America First president are turning out to be a major boon to some of the world’s biggest automakers -- except those based in the U.S.

General Motors took a $7.3 billion charge in the fourth quarter because the assets it racked up from having reported years of losses in the past are no longer as valuable with the lower U.S. corporate tax rate. Ford Motor Co. has forecast an adjusted effective tax rate of about 15 percent this year, about the same as what it paid in 2017.

Compare that with the big boost Japanese and German automakers expect from President Donald Trump’s tax bill. Owing less to Uncle Sam will lift profit by about 346 billion yen ($3.1 billion) at Honda Motor Co. and 290 billion yen at Toyota Motor Corp. in the fiscal year ending in March, according to the companies. Mercedes-Benz maker Daimler AG reported a favorable impact of about 1 billion euros ($1.2 billion) to 2017 profit.
"

GM, Ford miss out on tax benefit Trump hands to foreign automakers

DETROIT -- Tax cuts signed by an America First president are turning out to be a major boon to some of the world’s biggest automakers -- except those based in the U.S. General Motors took a $7.3 billion charge in the fourth quarter because the assets it racked up from having reported years of…

www.autonews.com

US parts suppliers won that because of lower prices from lower taxes. The other things are temporary.
Biased, deceptive article.

 

[RaleBulgarian]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

Poor guy, never learned to negotiate the purchase price for a vehicle.

 

[Grandpappy]

Some foreign manufacturers benefited from the tax cuts. Why?
They invested in US factories and suppliers.

 

[RAMOSS]

A link would be pretty sweet to see

That would mean having to actually support a claim.

 

[Airyaman]

Biden will jack up the corporate tax about 8% on American companies. So, a $30,000 Ford, Chevy, or Dodge will now cost $32,400 (what, you thought the company would eat the tax? Haha.)
The foreign built cars will not be subject to the tax.
That's just an example. All American companies will be hobbled like that, unless they move.
End result? Do I really have to spell it out for you?

Did car prices go down with the corporate tax break?

 

[Grandpappy]

Did car prices go down with the corporate tax break?

Short answer? Yes.
https://www.cato.org/publications/research-briefs-economic-policy/corporate-taxes-retail-prices

https://www.taxpolicycenter.org/briefing-book/what-are-economic-effects-tax-cuts-and-jobs-act

Lower individual tax rates, a lower corporate tax rate, expensing of capital investment, and other reductions in business tax rates will increase the after-tax return to saving, encouraging households to save and reducing the cost of investment for firms. Those changes will lead to more investment, a larger capital stock, and higher output, by most estimates.

 

[Grandpappy]

Would you enjoy $6 a gallon gasoline? Vote Biden!

What, the media didn't tell you that? And you've already voted? Shame. Like really small cars? Maybe a motor scooter as primary transportation, just like in Vietnam.....fun!

 

[Luce]

I work for dealer that sells American cars.

Then you were screwed to begin with.

 

[Grandpappy]

Then you were screwed to begin with.

Lemme guess...Hyundai, right? Have the windows fallen into the doors yet?