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The U.S. has the highest corporate tax rate in the developed world.
After Japan lowered its tax rate last year, the combined federal and average
state tax rate of 39.2% in the U.S. was the highest of any nation in the
Organization for Economic Co-operation and Development.
The U.S. has the highest corporate tax rate in the developed world.
After Japan lowered its tax rate last year, the combined federal and average
state tax rate of 39.2% in the U.S. was the highest of any nation in the
Organization for Economic Co-operation and Development.
Firstly, these companies made massive profits even with taxes included.
Secondly, these stats just show the plain amount they were taxed, not the effective tax rate which takes into account refunds etc. from the government. A lot of these companies, particularly ones in the financial industry, end up paying a pittance of that 39.2% rate. There's a fantastic documentary about on Netflix now.
Yes European countries such as Norway, Sweden, and Germany have lower rates. But there are no exceptions, everyone pays them, and people pay higher income taxes.
Lo and behold those countries have healthier citizens who lead longer lives, wealthier citizens, low poverty, better education systems, better quality of life etc. etc.
I have no problem with a company making 57 billion paying 13 billion in taxes. It should be more, honestly.
Your link only tells half of the story. They should lower corporate tax if they also close the tax loopholes and force the corporations to keep the profits in the us and not off-shore.
The U.S. has the highest corporate tax rate in the developed world.
After Japan lowered its tax rate last year, the combined federal and average
state tax rate of 39.2% in the U.S. was the highest of any nation in the
Organization for Economic Co-operation and Development.
You need to learn the difference between the nominal tax rate, which no one actually pays, and the effective tax rate, which is what actually gets paid. The effective corporate tax rate is ~5% with many (usually those who lobby the most to get the most special tax breaks and tax carve outs) pay 0% or even net negative tax rates. We're talking some of the largest corporations in the country literally pay nothing net in taxes for decade after decade.
Firstly, these companies made massive profits even with taxes included.
So? Companies are in business to make money for themselves and their shareholders. Why are you against that? The more they make, the more people they hire which stimulates the economy. Why are you against making the economy better?
Quote:
Yes European countries such as Norway, Sweden, and Germany have lower rates. But there are no exceptions, everyone pays them, and people pay higher income taxes.
Lo and behold those countries have healthier citizens who lead longer lives, wealthier citizens, low poverty, better education systems, better quality of life etc. etc.
I have no problem with a company making 57 billion paying 13 billion in taxes. It should be more, honestly.
The US is not Europe. You cannot apply what happens there to here. If you are in love with their example, feel free to live there.
well, considering the customers of those 10 companies are actually paying any tax those companies actually pay, I'd say it isn't fair or unfair, because apparently the consumer still buys their products and pays those taxes without much complaint, else none would be so successful.
Businesses do not pay the business tax. People who buy the products of business pay those taxes.
The US is not Europe. You cannot apply what happens there to here. If you are in love with their example, feel free to live there.
Very much agreed. The United States is a microcosm of the entire planet; what works for a country that resembles Wisconsin in population and demographics cannot be extrapolated to work in a country as large and diverse as the United States. But that's how some people see things -- if it works in there, it will work here too.
Single-payer might end up working in Vermont, and if so it will be used as proof of concept to push for its application on the Federal level in all states; that doesn't mean it's going to work in Arizona, Mississippi or Montana.
The U.S. has the highest corporate tax rate in the developed world.
After Japan lowered its tax rate last year, the combined federal and average
state tax rate of 39.2% in the U.S. was the highest of any nation in the
Organization for Economic Co-operation and Development.
The only way for the government to get all the money they think is owed to them, is to take it before you get it.
FICA is guaranteed for the employed. Never for those self employed.
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