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US172 - Cut the Corporate Tax Rate
| Cut the corporate tax rate from 35% to 25% | |
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Description
Source: mittromney.com
Arguments
Policymakers have had their heads in the sand regarding the global economy in which our employers compete. Our current federal corporate income tax is the highest in the world for developed countries. This cannot stand.
Source: tommyforwisconsin.com
Source: tommyforwisconsin.com
The United States now has the highest corporate tax rate in the developed world and 70 percent of that burden falls on workers. Joe will fight to cut the corporate tax rate from 35 percent to 25 percent. This tax cut alone could allow businesses to add 500,000 new jobs. Over 70 countries have cut their corporate tax rates because they know a low-tax environment attracts new businesses and allows existing ones to grow. The U.S. hasn’t cut our corporate tax rate since 1988. With 12 million Americans looking for work, we can’t afford to wait.
Source: joekyrillos.com
Source: joekyrillos.com
As suggested in the President’s National Commission on Fiscal Responsibility and Reform, we should reduce the federal corporate income tax rate. I propose moving the rate from 35% to 25% to be more competitive with the rest of the world and keep jobs here in America. Moreover, we should simplify the tax code for all businesses by enacting a top rate of 25% for business income, no matter the size or structure.
Source: lindasplan.com
Source: lindasplan.com
Counterarguments
The corporate tax rate in the U.S. is 35%, but there aren't many companies that end up paying that amount. According to a study by the Citizens for Tax Justice and the Institute on Taxation and Economic Policy, the average tax rate of 280 S&P 500 companies investigated was 18.5% between 2008 and 2010.
Read more: http://www.businessinsider.com/these-are-the-30-american-companies-that-paid-less-than-zero-income-tax-from-2008-2010-2011-11?op=1#ixzz26BBRLjGX
Note on this link, that GE's effective tax rate as being -45.3%
Yes .............. that is a minus sign in front of that number.
And we should CUT the corporate tax rate MORE? Fascists believe corporations should pay no taxes at all. Is this where we're headed ................ or is this where we're at NOW?
Over 70 companies paid no taxes at all.
And then there were the 30 companies that paid less than nothing ............................
Read more: http://www.businessinsider.com/these-are-the-30-american-companies-that-paid-less-than-zero-income-tax-from-2008-2010-2011-11?op=1#ixzz26BBRLjGX
Note on this link, that GE's effective tax rate as being -45.3%
Yes .............. that is a minus sign in front of that number.
And we should CUT the corporate tax rate MORE? Fascists believe corporations should pay no taxes at all. Is this where we're headed ................ or is this where we're at NOW?
How about a flat tax rate of 10-15% for everyone and all entities?
1 Topic
Discussion
Related Ideas
| Simplify the tax code to close all the loopholes and get corporations paying their fair share More detail | |
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| Lower corporate tax rates to better compete in the global economy and to invest and create jobs at home More detail | |
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| Follow the Bowles-Simpson recommendation to simultaneously reduce corporate tax rates and close tax loopholes. More detail | |
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| This is a global economy. If we want capital flowing into this country creating jobs, we need incentives. More detail | |
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| We should cut corporate tax rates to 15% immediately to spur new investment and create new jobs in America More detail | |
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| Earnings from manufacturing in the U.S. should be taxed at a rate no higher than 25%. More detail | |
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| Only business can create jobs and sustainable economic growth. More detail | |
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Reduce rates and close loopholes