The U.S. Has the Highest Corporate Income Tax Rate in the world (Obama, millionaire)

[Driller1]

Originally Posted by urbanlife78

Well the rate some here think corporations pay is not the actual rate they pay.

That is true for small businesses and individuals too if you mean the bottom line.

[VTHokieFan]

Originally Posted by urbanlife78

Well the rate some here think corporations pay is not the actual rate they pay.

But at the same time, touting our effective corporate tax rate as being low doesn't magically make our corporate tax structure business friendly. The well connected might have a low effective rate...

[Driller1]

Originally Posted by VTHokieFan

But at the same time, touting our effective corporate tax rate as being low doesn't magically make our corporate tax structure business friendly. The well connected might have a low effective rate...

Anyone can do the same thing.

I did it when I was working three minimum wage jobs.

[dman72]

Originally Posted by Driller1

Anyone can do the same thing.

I did it when I was working three minimum wage jobs.

Yes, you can get the same tax credits that Exxon gets..."it's the same form". Just open an oil company, who's stopping you?

[Driller1]

Originally Posted by dman72

Yes, you can get the same tax credits that Exxon gets..."it's the same form". Just open an oil company, who's stopping you?

I do use some of the same.

On the same forms.

http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

This my main form.

[petch751]

Originally Posted by VTHokieFan

But at the same time, touting our effective corporate tax rate as being low doesn't magically make our corporate tax structure business friendly. The well connected might have a low effective rate...

The tax code is based on "income" not wealth. This means that the tax code kills, makes it more difficult for the up and coming. The wealthy are already rich. If you are an up and coming today, you're screwed.

[stayinformed40]

Originally Posted by Rggr

We shouldn't ignore this if we're serious about bringing jobs back to the US.

Correct! But the lefties do not want jobs, they want government hand outs.

[Driller1]

Originally Posted by petch751

The tax code is based on "income" not wealth. This means that the tax code kills, makes it more difficult for the up and coming. The wealthy are already rich. If you are an up and coming today, you're screwed.

It encourages investment.....that creates jobs.

[petch751]

Originally Posted by Driller1

It encourages investment.....that creates jobs.

investment? lololol, you do realize this is the "worst" recovery on record right? So where are all those jobs? Your theory is proven wrong. It encourages big companies moving main operations overseas to countries of lower corporate tax rates. It encourages companies keeping that money overseas and not bringing money back to the U.S. If you bring money back to the U.S. and the government takes a huge chunk you would keep it there too. Wake up!

For small business it encourages hoarding of what's left after the government take.

[Driller1]

[quote=petch751;34579218]The tax code is based on "income" not wealth. This means that the tax code kills, makes it more difficult for the up and coming. The wealthy are already rich. If you are an up and coming today, you're screwed.[/QUOTE

We are not taxed only on the income we keep.

Pay me $1000......I invest $900.....I pay tax on $100.