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Lower the corporate tax burden isn't going to anything for the US.
It would do wonderful things for us and the US because:
1) Higher corporate rates are just passed onto the consumer, they don't come out of corporate profits. Lower rates mean lower prices for us.
2) Lower corporate tax burdens free up capital to hire new workers. Nothing like a little more unemployment needed here, huh?
Maybe what we need to do is stop thinking of corporations as all being "rich" (many have gone bankrupt, and many more will follow soon), as well as thinking that it's all about "us" vs "them".
We are all in this together. They need us, and we need them. But none of us needs higher tax rates!
1) Higher corporate rates are just passed onto the consumer, they don't come out of corporate profits. Lower rates mean lower prices for us.
Companies can't easily pass on a profit-tax to consumers, an increase in corporate tax is largely going to eat into corporate profits. If the industry is not competitive then the costs in that case may be passed through.
Quote:
Originally Posted by Nor'Eastah
2) Lower corporate tax burdens free up capital to hire new workers. Nothing like a little more unemployment needed here, huh?
Nope. Wages are deductible.
Quote:
Originally Posted by Nor'Eastah
Maybe what we need to do is stop thinking of corporations as all being "rich" (many have gone bankrupt, and many more will follow soon), as well as thinking that it's all about "us" vs "them".
Or start to base tax policy on sound reasoning, you know like stop pretending as if higher taxes will reduce employment.
A corporation with no profit pays $0 in federal taxes. Corporate taxes don't cause corporate bankruptcy, bad management does.
You don't understand all.This corporate tax cut will be great for SMALL BUSINESSES, they don't have loopholes and tax breaks like corporations...And SBs create about 70% of the US jobs
You don't understand all.This corporate tax cut will be great for SMALL BUSINESSES, they don't have loopholes and tax breaks like corporations...And SBs create about 70% of the US jobs
You may want to become more familiar with the US tax code.... Most small businesses aren't corporations so corporate taxes don't matter for them.
Even when small businesses do decide to incorporate, they usually file sub-chapter S and the corporate tax rates are again irrelevant. Furthermore most loopholes are available regardless of size, for example the domestic production tax deduction.
Lower income/corporate taxes isn't going to do much for business, on the other hand stream lining the tax code could save businesses billions a year.
You may want to become more familiar with the US tax code.... Most small businesses aren't corporations so corporate taxes don't matter for them.
Even when small businesses do decide to incorporate, they usually file sub-chapter S and the corporate tax rates are again irrelevant. Furthermore most loopholes are available regardless of size, for example the domestic production tax deduction.
Lower income/corporate taxes isn't going to do much for business, on the other hand stream lining the tax code could save businesses billions a year.
So, what is the tax for small businesses ?
And I'm not agree about this, the low corporate tax has been extremly good for Irelandbefore the crisis.
Businesses in the US either have pass-through taxation or corporate taxation. Most small businesses are pass-through, that means that they pay income tax on their earnings and the business itself pays nothing.
Quote:
Originally Posted by RenaudFR
And I'm not agree about this, the low corporate tax has been extremly good for Irelandbefore the crisis.
Yeah the fact that the nation is essentially bankrupt now means nothing...
The high tax countries in Europe are doing better than the low tax countries. Not exactly a good example to bring up to support a low tax model.
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