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"The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005."
So corporations have shipped jobs overseas because of America's poor infrastructure, high crime rate, and poor education. Interesting. I haven't heard that one before.
You're twisting my comments, i was specifically talking about florida, not the US. They ship jobs overseas because they can pay workers in China 1$ an hour with no breaks, overtime, or benefits, and they can pollute wherever they want. The truth is, there are some good honest corporations out there but there are also those who are more concerned about making money than their employees or the enviorment.
Also, compared to other industrialized nations, the US has a higher crime rate, is last in education most of the time, and has a poor infastructure system compared with Western Europe or Japan.
No. Just the question itself leads me to believe you are set in your ideology and nothing I say will make you to reconsider.
Interesting. I thought my OP was highly non-partisan. In fact, I left out any mention of any candidate or party because I want to discuss the issue of 0% corporate tax just like the title and body of the OP would indicate.
I hope you have the capacity to see what you've managed to do in your first two posts in this thread. Instead of discussing the issue at hand, you first insult me, then tell ME that I'm set in MY idealogy, when in fact, I'm the one here trying to gain a better understanding of the notion of a 0% corporate tax, while you immediately draw the party line and call names.
Is a corporation not owned by shareholders? Do those shareholders not pay tax on their dividends? If shareholders do pay taxes on their dividends, is that not a double tax?
Strikes me as the fastest way to create jobs. Millions of jobs overnight.
Thoughts?
Bush tried it. All the money was moved to offshore accounts and before his term ended we were heading toward a major depression.
Better idea - do away with all corporate structure, subsidies, and selective protections. Let people make their fortunes as individuals without a corporate umbrella to hide under.
Is a corporation not owned by shareholders? Do those shareholders not pay tax on their dividends? If shareholders do pay taxes on their dividends, is that not a double tax?
yes, this is true, but in the US, the dividen tax rate is between 10%-20%(depending on income). Yet in China, the dividen tax rate is 50%!!...so if this is they case, ask yourself, why is everyone shipping jobs to China and why has China's economy been growing at lightning speed for nearly 20 years?
Tax rates should be set at a reasonable rate to create a good business climate to ensue job creation and opportunities for all. But tax rates are not the only thing that determine how good a countries economy grows or how many jobs and businesses are created.
Bush tried it. All the money was moved to offshore accounts and before his term ended we were heading toward a major depression.
Better idea - do away with all corporate structure, subsidies, and selective protections. Let people make their fortunes as individuals without a corporate umbrella to hide under.
Bush tried lowering the corporate tax rate to 0%? Why would someone ship money to offshore accounts when they aren't being taxed here at home?
Please explain what you mean by 'doing away with all corporate structure'
yes, this is true, but in the US, the dividen tax rate is between 10%-20%(depending on income). Yet in China, the dividen tax rate is 50%!!...so if this is they case, ask yourself, why is everyone shipping jobs to China and why has China's economy been growing at lightning speed for nearly 20 years?
Tax rates should be set at a reasonable rate to create a good business climate to ensue job creation and opportunities for all. But tax rates are not the only thing that determine how good a countries economy grows or how many jobs and businesses are created.
So, if i owned a share in Kraft foods, and Kraft Foods shipped all their jobs over to China, would I be subject to China's dividend tax rate?
I'm all for the proposal, but a tax cut proposal without a spending cut proposal is not realistic; the government would simply pay for it with inflation taxes. I propose eliminating corporate income taxes and closing all overseas military bases to make up the budget shortfall.
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