Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Actually, Obama has proposed (four times) to cut it by 7-10%, but GOP has declined. Ironically when Romney proposed the same exact thing, they were all for it.
NEW YORK (CNNMoney) -- After more than a year in the making, the Obama administration on Wednesday released its plan to overhaul the corporate tax code.
The main proposal for reform would slash the corporate tax rate to 28% from 35% and pay for the reduction by eliminating "dozens" of business tax breaks. There are currently more than 130 on the books.
ok first of all note that i said "the powers that be", which is all inclusive.
second while obama proposed the reform, it still has to go through the house FIRST, and how many bills has reid tabled that have come from the house? good or not?
third, if the republicans passed a bill that perhaps was not what obama exactly wanted, and reid actually put i up for a vote and it passed, obama has a track record of acting like petulant child if he doesnt get everything he wants, and he would likely veto the bill.
so again,THE POWERS THAT BE dont want this to happen.
ok first of all note that i said "the powers that be", which is all inclusive.
second while obama proposed the reform, it still has to go through the house FIRST, and how many bills has reid tabled that have come from the house? good or not?
third, if the republicans passed a bill that perhaps was not what obama exactly wanted, and reid actually put i up for a vote and it passed, obama has a track record of acting like petulant child if he doesnt get everything he wants, and he would likely veto the bill.
so again,THE POWERS THAT BE dont want this to happen.
The Senate would never go for that. The Senate is telling Obama to use his pen to do something about the corporations offshoring their profits so we can get more tax from them. Lowering the corporate tax rate is the last thing the Senate would agree to.
Because "people" arent necessarily the majority, or the majority of those who understand economics.
Fun fact-the corporate revenue from taxes, as a % of the taxs collected has been dropping regularly as larger companies figure out how to hide their income from taxation.
And this is where most people just don't understand taxes. The nominal tax rate is much less important than the bottom-line rate, which accounts for deductions, credits, deferrals, etc.
Quote:
Originally Posted by Finn_Jarber
Actually, Obama has proposed (four times) to cut it by 7-10%, but GOP has declined. Ironically when Romney proposed the same exact thing, they were all for it.
NEW YORK (CNNMoney) -- After more than a year in the making, the Obama administration on Wednesday released its plan to overhaul the corporate tax code.
The main proposal for reform would slash the corporate tax rate to 28% from 35% and pay for the reduction by eliminating "dozens" of business tax breaks. There are currently more than 130 on the books.
Nice to see some facts. There are winners and losers for every change in the tax code. I expect that any significant change will be a drawn out process with many battling lobbyists. We might as well get the process started by having Congress take up real business, for once.
ok first of all note that i said "the powers that be", which is all inclusive.
second while obama proposed the reform, it still has to go through the house FIRST, and how many bills has reid tabled that have come from the house? good or not?
third, if the republicans passed a bill that perhaps was not what obama exactly wanted, and reid actually put i up for a vote and it passed, obama has a track record of acting like petulant child if he doesnt get everything he wants, and he would likely veto the bill.
so again,THE POWERS THAT BE dont want this to happen.
You said Obama would veto it, and I showed you he has pushed for it four times. Why would he veto his own proposal? The GOP were all for it when Romney proposed it, but when Obama proposes the same, they oppose it. Don't you see a problem with that? Obama has vetoed 2 bills in 5 years, and the 1st was when Dems still held both chambers.
You said Obama would veto it, and I showed you he has pushed for it four times. Why would he veto his own proposal? The GOP were all for it when Romney proposed it, but when Obama proposes the same, they oppose it. Don't you see a problem with that? Obama has vetoed 2 bills in 5 years, and the 1st was when Dems still held both chambers.
again a bit of reading comprehension will do you well finn. note that i said if the republicans pass a bill that is not exactly what obama wants, chances are he will veto it. but it still has to get through the senate first, and reid is not going to put much of anything up for debate and a vote if it comes from the house.
again a bit of reading comprehension will do you well finn. note that i said if the republicans pass a bill that is not exactly what obama wants, chances are he will veto it. but it still has to get through the senate first, and reid is not going to put much of anything up for debate and a vote if it comes from the house.
Let's see the House pass a bill before we guess what the Senate and the President will do. If the House passed a bill that was a reasonable compromise, then I would expect the Senate to work on one and compromise with the House. At least, that is how Congress is supposed to work. A lot of members of Congress don't seem to interested in doing work these days, unfortunately.
again a bit of reading comprehension will do you well finn. note that i said if the republicans pass a bill that is not exactly what obama wants, chances are he will veto it. but it still has to get through the senate first, and reid is not going to put much of anything up for debate and a vote if it comes from the house.
Sure sounds like a lot of speculation given the fact that the House has refused to vote on such bill, and the fact Obama has vetoed only 2 bills in five years. I have yet to see a president veto his own proposals.
Sure sounds like a lot of speculation given the fact that the House has refused to vote on such bill, and the fact Obama has vetoed only 2 bills in five years. I have yet to see a president veto his own proposals.
he hasnt had to veto many bills because since the republicans took over the house reid isnt letting any bills through the senate. thus based on track record, even if the republicans came up with a bill that was satisfactory to both them and obama, reid would likely not let the bill through, so it would be doa in the senate anyway.
You guys are debating about a bill that doesn't exist.
Obama is planning to use his pen to end inversions by the corporates and the Dems in the Senate are all on board.
Obama has to do something..we spend $4 trillion but only take in $3 trillion and individuals are earning less each year.
The FedGov has to find a new sugar daddy but quick.
http://www.nytimes.com/2014/08/06/bu...nversions.html
The Obama administration is weighing plans to circumvent Congress and act on its own to curtail tax benefits for United States companies that relocate overseas to lower their tax bills, seeking to stanch a recent wave of so-called corporate inversions, Treasury Secretary Jacob J. Lew said on Tuesday.
People keep saying a lower corporate tax will boost the U.S economy. So why hasn't it been lowered?
Because the tax system is the largest power to control people the government has.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
