Comments by "Sergey Bebenin" (@sergeybebenin) on "The Rich Are DRIVING THE ENTIRE U.S. ECONOMY (WHILE EVERYONE ELSE IS BROKE!)" video.

That's why I'm baffled why so many people are against raising corporate tax or at least tax on rich. And now with automation, it makes even more sense to tax corporations more.
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@GOLDisMONEYau79 so tariffs are ok but not corporate tax? It's the same group of people we are talking about. Also, what do you suggest we do with corporations that replace all/most employees with automation? Their expenses will go down to the bare minimum. For the corporate tax not to be passed to consumers there must be free trade (competition). Instead the USA is setting enormous tariffs to curb competition.
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@TheSuperdodgy I'm talking about "regular people"that vote for this
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@GOLDisMONEYau79 😳 huh? I just told you how corporations won't be able to just "pass it on" to consumers. If you didn't have a counter argument, I get it. Monopoly is bad for everyone except the top 1%
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@ReturnOfVishnu yeah LMAO, I'm literally working in an industry that WORKS on automation and I'm witnessing human jobs being displaced all around me. Including my own field, by the way (AI can now write code, i.e. same or even better productivity with less employees). And yet I "don't know what I'm talking about". I actually kinda feel bad debating you now because it's like taking candy from a kid.
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@ReturnOfVishnu But it does solve the problem in part. I'm not against cutting spending (it can be done at the same time) but they want to give out tax cuts AGAIN. I'm a strong believer in data because data doesn't lie. I overlayed 2 plots (tax rate and debt) on the same graph timeline 1960-2020.... The trend is unmistakable. And can you also respond to my comment about automation? Why are so many people avoiding this topic?
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@jamescash887 yeah they pay majority overall because everyone pays a percent of their income and when there's such inequality between top 1-5% and the rest, obviously that's why their contributions are higher. Automation and production optimization was achieved by "regular" folks over the decades of hard work and research. Now corporations are reaping all the benefits while cutting regular folks. And you are gonna tell me taxes shouldn't be raised? So if a corporation automates most of the processes (drastically cutting expenses, i.e. people), it should not be taxed more? You'll sing a different tune when your job is affected. I'm a systems engineer in my mid 40s so I'll be okay but I see people around me losing jobs because of automation while corporations are releasing record earnings and Chiefs are getting more money in yearly bonus than an average American will ever earn in the entire lifetime.
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@avenger1212 historic plots show that debt got out of control with a series of tax cuts over the years. No one is saying spending has to be looked at the same time.
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@ReturnOfVishnu ah... A typical response from someone who cannot debate - personal insults
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@ReturnOfVishnu it's plainly obvious you aren't working in an industry that uses advanced automation. I never said there won't be a need for any workers but to service 10 robots that work 20hr shifts, you don't need 10 people. It's even worse with software automation because it barely requires any maintenance once it's set up to do a certain task.
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@ssing7113 paying tax rates as it used to be before the Dept went out of control is now considered a "penalty"? How did USA even survive before the debt hit the exponential curve? You make it sound like corporate taxes were always this low. And being a multimillionaire or billionaire isn't enough motivation for you? Nonsense. Bud, there are tens of millions of regular folks working long days their entire life living paycheck to paycheck while their Chiefs have so much money that they don't know what to do with it. The irony is that it's regular folks that are actually the "mechanism" that make all of these companies moving.
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@ReturnOfVishnu what you said is irrelevant. See how easy it is? LoL. Just dismiss real life facts and say "what you said is irrelevant".
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@ReturnOfVishnu how in the world would the budget revenue keep up if there were multiple tax cuts since the 80s!??? It's elementary school math! 🤦‍♂️ And no one is saying expenditures should not be reevaluated.. This thread is about taxing (revenue). The biggest deficit was 2020 (Trump) - fueled by COVID but also by tax cuts.
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@ReturnOfVishnu why didn't you just conclude that I believe in slavery? I mean, go all the way with your imagination. I already said what I had to say about expenditures.
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@alycat9186 GDP % is about the same every year +/- few points. It's mathematically impossible to resolve debt growing with an exponential curve by simply cutting spending (which isn't enough to even balance the budget, let alone start paying debt).
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@alycat9186 balancing the budget isn't enough to fix exponentially growing debt. Deficit has been in trillions for many years and administrations. It's impossible to cut trillions out of the budget unless you want to stop receiving pension and pay full price for medical expenses. And even if these cuts happen it's STILL not paying for the debt itself! Why is it so hard to understand?
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@ReturnOfVishnu yeah, the circle always brings you to the inescapable fact that the only way to tackle exponentially growing debt is to raise corp taxes (in reality bringing them back to where they used to be). And preferably the same for gazillioneres.
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@ReturnOfVishnu LMAO! Bud, I've been working since I turned 16 and after graduation have never been unemployed for a single day and have always been working in a high tech engineering industry. When you have no argument, you just switch to personal attacks 😂 No evidence of what? Exponential-like debt curve? It's a verifiable fact. Deficit? Verifiable fact. It's all numbers and math
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@ReturnOfVishnu math isn't your strong suit, bud. I don't have to repeat what I already explained in regards to exponential-like debt growth. Interest alone is almost $1T YEARLY. So almost $2T deficit plus $1T interest = $3T just to stop the debt growing. And me being employed or unemployed doesn't change this fact LoL.
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@seabass22 we are paying for tariffs 🤦‍♂️... While eliminating free trade, which will cause monopoly. A corporate tax raise (to where it used to be) without monopoly will not raise prices the same way as tariffs.
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@seabass22 sure, bud. Whatever you want to believe, but it's not the topic of this thread.
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@markpitchford7375 My pay goes up as inflation goes up. It happens annually. And how did people manage to have better living standards back when corporate tax was higher? It wasn't that long ago too... And yet we are at record deficit/debt and people can barely afford anything. Debt needs to at least STOP growing exponentially and the only way to do it (math doesn't lie) is by drastically increasing budget revenue. Yes of course, cuts are well, but they BOTH need to happen at the same time. Otherwise your salary "increase" wishes will be the least of your problems in the future.
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@seabass22 It's not keeping up with inflation. But tax cuts won't help because when the last cut took place, I didn't see it reflected on my raise. "Chiefs" and BoD just use this extra money for their bonuses and stock buybacks (to raise their bonuses). And yes, standards were definitely higher. Back in the days, it was typical for women to stay home and take care of the kids while husbands were able to support the entire family (I'm talking finances here, not a lifestyle debate). Tariffs and uncertainty are actually looking to trigger a sizable layoff in my company. We hear the same story from customers and many customers have frozen or outright canceled their orders specifically for the same reason. Such a complex and intertwined economy (which took decades to establish) with our partners (Canada, EU, etc) won't be rebuilt overnight or even in the short term. And let's say it does happen after many years of us suffering... In the end everything will be MORE expensive (because of labor cost and less competition). In the process, other countries will rebalance their economies to exclude USA, which is obviously bad for local producers. There isn't a good example of a self-centered economy in modern history. If you have one, please share. In case, corp taxes and tariffs are different topics so the second half is not really related to my main point.
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@seabass22 huh? Why would they if they were happy to build this intertwined free trade economy? It benefited everyone. It's not another country's fault that USA gov spending went out of control. And it's not just Democrats either. It took a couple of decades under different admins. In fact, biggest deficit in history was under Trump and it's not just because of COVID. Layoffs are already happening so even IF higher corp tax caused layoffs, it's no different than what we have today. I also don't see why layoffs should take place if it's just a couple of points and until recently, corps were reporting record profits. Inflation WILL go up on tariffs because consumers always pay for tariffs. In the end, there's no "good way out" but picking a fight with everyone to "stimulate and and isolate own economy" surely seems like the worst choice. Again, I'm asking for an example where this has already worked.
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