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Corporations gear up for major U.S. tax battle

Ausm said:
Corporate lobbyists are racing to Congress to grease their palms.

http://news.yahoo.com/corporations-gear-major-u-tax-battle-122056212.html
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So what? Congress greases the palms of corporations all the time; there's no reason for you to be upset that it's via the tax code this time rather than directly giving "stimulus money."
Progressives' only problem with spending money that you can't ensure the people you don't like get any, or limit it to only progressive favorites like Solyndra and high speed rail boondoggles.
 
glenn1 said:
So what? Congress greases the palms of corporations all the time; there's no reason for you to be upset that it's via the tax code this time rather than directly giving "stimulus money."
Progressives' only problem with spending money that you can't ensure the people you don't like get any, or limit it to only progressive favorites like Solyndra and high speed rail boondoggles.
Click to expand...

Where did I say I was upset? I am posting a news event.
 
The corporate tax is way too high. One of my older brothers was going to have pay $9k in Federal taxes if he didn't buy something for his (small) business.

The reason so few corporations pay taxes to the US gov is because the marginal rate is so high. They pay foreign governments because the US has the highest coporate tax rate in the world.
 
Anarchist420 said:
The corporate tax is way too high. One of my older brothers was going to have pay $9k in Federal taxes if he didn't buy something for his (small) business.

The reason so few corporations pay taxes to the US gov is because the marginal rate is so high. They pay foreign governments because the US has the highest coporate tax rate in the world.
Click to expand...

Sounds like your older brother should not be in business in the U.S.

What country are you guys going to move to that is more suited for you both?
 
Corp taxes should be zero. Some if you won't believe it by many of the liberal utopias in Scandinavian have no or almost zero corp taxes. There are very good reasons to have a zero corp tax rate.
 
Zebo said:
Corp taxes should be zero. Some if you won't believe it by many of the liberal utopias in Scandinavian have no or almost zero corp taxes. There are very good reasons to have a zero corp tax rate.
Click to expand...

IMO corporate taxes should be very low (maybe 5-10%) but not zero. Corporations have privileges like limited liability so I think they should pay a small tax for that. A very low rate has most of the same benefits of a zero rate.
 
Zebo said:
Corp taxes should be zero. Some if you won't believe it by many of the liberal utopias in Scandinavian have no or almost zero corp taxes. There are very good reasons to have a zero corp tax rate.
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I agree with that for publically held reporting C corps.

OTOH, revenues need to be maintained, actually increased, so we should tax all personal income at current progressive earned income rates or even higher. Offshore corporate headquarters would disappear overnight, offshore earnings would automatically come home for disbursement to stockholders, who'd be screaming for 'em, since they'd be paying higher tax rates themselves. The disingenuous right wing song and dance about double taxation would also become meaningless. It'd actually be very good for honest business entities.

If we want to incentivize business to engage in certain behaviors, we can either pay them or maintain some low level of taxation/ exemption to do so.
 
Jhhnn said:
I agree with that for publically held reporting C corps.

OTOH, revenues need to be maintained, actually increased, so we should tax all personal income at current progressive earned income rates or even higher. Offshore corporate headquarters would disappear overnight, offshore earnings would automatically come home for disbursement to stockholders, who'd be screaming for 'em, since they'd be paying higher tax rates themselves. The disingenuous right wing song and dance about double taxation would also become meaningless. It'd actually be very good for honest business entities.

If we want to incentivize business to engage in certain behaviors, we can either pay them or maintain some low level of taxation/ exemption to do so.
Click to expand...

We probably wouldn't need to raise the individual rates much at all. Taxing capital gains at the same rate as income (which becomes more defensible after cutting or eliminating corporate taxes) would make up most of the difference and make the system dramatically more progressive without touching the rates.
 
dmcowen674 said:
Sounds like your older brother should not be in business in the U.S.

What country are you guys going to move to that is more suited for you both?
Click to expand...

They will just move their business to another country on paper, pay taxes to that other country, and remain here. Almost what you want but not quite.
 
the DRIZZLE said:
IMO corporate taxes should be very low (maybe 5-10%) but not zero. Corporations have privileges like limited liability so I think they should pay a small tax for that. A very low rate has most of the same benefits of a zero rate.
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If corporations are people, then they should pay taxes like people.
 
Zebo said:
Corp taxes should be zero. Some if you won't believe it by many of the liberal utopias in Scandinavian have no or almost zero corp taxes. There are very good reasons to have a zero corp tax rate.
Click to expand...

Ziiiiiiiiiiing 😵
 
Anarchist420 said:
The corporate tax is way too high. One of my older brothers was going to have pay $9k in Federal taxes if he didn't buy something for his (small) business.

The reason so few corporations pay taxes to the US gov is because the marginal rate is so high. They pay foreign governments because the US has the highest coporate tax rate in the world.
Click to expand...

You really have no clue as to what you speak of, do you?

The US might have one of the highest stated corporate rates, but it's effective corporate rate drops to ~27%. While that is still about the 6th highest, the US doesn't levy a "Value added tax" on top of the effective tax rate which makes it look worse in comparison to a lot of the countries behind it on the list.

Now, don't even get me started into the topic of corporations skirting taxes altogether. A GAO report that covered an eight year span found that 76% of foreign owned corporations and 55% of US owned corporations had at least one year during that span where they paid zero taxes.

http://www.gao.gov/new.items/d08957.pdf

You really shouldn't talk much about things that you know so very little about.
 
RightIsWrong, you're right our Feds don't levy a VAT, but pretty much every state adds on a sales tax and various other taxes as well. So you're just counting Fed tax rates, lets start including local and you'll see big variances across the country. For instance doing business in California is WAY the fuck more expensive than in Delaware due to all the taxes and regulations.
 
bfdd said:
RightIsWrong, you're right our Feds don't levy a VAT, but pretty much every state adds on a sales tax and various other taxes as well. So you're just counting Fed tax rates, lets start including local and you'll see big variances across the country. For instance doing business in California is WAY the fuck more expensive than in Delaware due to all the taxes and regulations.
Click to expand...

I agree with you and that is why you see corps going tax shelter shopping which is their right.

But the topic is directed at federal tax rates and that is what I was addressing.
 
the DRIZZLE said:
We probably wouldn't need to raise the individual rates much at all. Taxing capital gains at the same rate as income (which becomes more defensible after cutting or eliminating corporate taxes) would make up most of the difference and make the system dramatically more progressive without touching the rates.
Click to expand...

Agreed.

None the less, we need to be willing to raise rates further if required to provide the kind of govt we can agree we need & want.
 
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