We pay the third highest corporate tax rate on the planet

[Newpublius]

Well, the fact of the matter is that the average "effective" corporate rate is 22% and some companies like GE, have a -0- effective rate. Comparison of rates alone is seriously misleading. (The "effective" rate is the actual rate paid on NIBT)

I think what many people don't incorporate ibto their analysis is that LLCs and S Corps already oay 0. The real question is how many LLCs and S Corps NEVER scale up because they will NEVER become a C Corp?

[Grokmaster]

End all taxes on income. Tax consumption. Have your exemptions for certain things for poor people and or give them a prebate.

The Fair Tax.

[leekohler2]

Poor people could avoid much consumption taxes by buying used. You buy my perfectly good SUV and get a great car and pay zero taxes. I go buy a new one an pay the consumption tax. Talk about a progressive tax code.

I'm pretty sure most poor people already buy used cars, if they can even afford a car.

[leekohler2]

No it wouldnt, it would give them even more to donate

Exactly right. This country would be completely run by corporations at that point.

God, I hate it when I agree with you.

[leekohler2]

https://taxfoundation.org/corporate-...nd-world-2016/

1) The United States has the third highest general top marginal corporate income tax rate in the world, at 38.92 percent. Due to the recent reduction in Chad’s corporate tax rate, the U.S. rate is exceeded only by the United Arab Emirates and Puerto Rico.

Uhhh.....is that good? The UAE....and Puerto Rico(speaking of something that would attract investment given you've just had a major hurricane you rocket scientists in San Juan, lower your corporate tax rate) stand above the US although PR is so smart, their corp tax rate is .01 above ours. A race to idiocy.

2) The worldwide average top corporate income tax rate, across 188 countries and tax jurisdictions, is 22.5 percent

Uhhhh....is that good? That the world average is 22.5%....and ours is 38.92%? Is that smart regulation, should we not want corporations to have a fair playing field in the US? Who made that tax rate?

3) By region, Europe has the lowest average corporate tax rate, at 18.88 percent

Uhhhhhh...is that good? Europe sports a corporate rate of 18.88%.......and we f'n rocket scientists here in the US......we more than double that.....that's how f'n smart we are.

4) Every region in the world has seen a decline in its average corporate tax rate in the past thirteen years.

Really? Well.....here in the United States region.....we call it the rich not paying their fair share. That the profits from these corporations come off the backs of the working class. Every other region on the planet.....lowers the corporate tax rate.....because they want corporations to being their businesses there!!!!!! Imagine that.

Let's see.....should I incorporate and pour money into the US......at 39% tax rate....or Europe at 19%.......hmmmmm.....that's a tough one I gotta tell you.

What do you think United States? Why not we increase corporate taxes? Would not that bring in more money? Or would it affect economic growth and bring in less monies?

Ponder and pontificate on that

Read and learn what corporations actually pay. It's not even close to what you suggest:

https://www.npr.org/2017/08/07/54179...e-in-the-world

The reality is that it ends up being around 18.6% once deductions and such are factored in.

[gamewell45]

I think that we should do away with corporate taxes as this would reduce the political donations given by them.

How do you propose we make up for the lost tax dollars? Increase the taxes on the middle class?

[leekohler2]

How do you propose we make up for the lost tax dollars? Increase the taxes on the middle class?

Well, they certainly think the 1% needs a tax break, so I'm guessing that the middle class would have to take the hit. Nothing new for the GOP.

The sad thing is, threads like this are how they convince them to do it, by posting misleading numbers.

What's really killing our corporations is the fact that they have to pay employee's health insurance. That should not be their job. If we had UHC like the rest of the intelligent world, our corporations would be dominating the world market.

One of these days, we'll figure that out.

[Peter1469]

I'm pretty sure most poor people already buy used cars, if they can even afford a car.

But today they may have income tax liability. Even if minor.

Taxing productivity is immoral. And counter-productive.

[Peter1469]

How do you propose we make up for the lost tax dollars? Increase the taxes on the middle class?

Increased tax base as the economy expands.

10% from 100 people is worth more than 40% from 5.

[leekohler2]

But today they may have income tax liability. Even if minor.

Taxing productivity is immoral. And counter-productive.

If we did away with income taxes, how would we make up the shortfall? Raise taxes on consumption? The money has to come from somewhere. Raising taxes on consumption is extremely counter-productive. People will simply buy less, and that is not a good thing at all.

Just for the record, I do not find our current income tax situation to be bad at all. I'm doing well for myself and I do not find my income tax rate to keep me from enjoying the fruits of my labor. I hope my taxes go to help others do well too. I was only able to get where I am because I live in a great country. I have no problem paying taxes so that it can be greater.

We clearly have different views on taxes. You view them as "stealing". I view them as giving back to the country that allowed me to get where I am today. To me, it's a patriotic duty.

My income taxes do not keep me from buying nice cars or going to expensive dinners. I have more than I need. It drives me crazy when people who have money complain about taxes.