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Our effective corporate tax rate is 18%, which is middle of the pack for developed nations. That is a fact. Any corporation that is paying more than that needs a new CFO.
And if the rate cut passes you can bet the new effective corporate rate will be about 6 -10%, with small businesses paying 20% and huge corporations paying nothing at all.
Shareholders get the profits. Who are the shareholders?US workers and retirees have $27 trillion invested in equities in their pension and retirement accounts. THEY'RE the "shareholders." CalPERS (California Public Employees' Retirement System), alone, is the LARGEST institutional investor in the US. Not a business owner, not a bank, not a Wall Street firm, not even a hedge fund. CalPERS, a union pension plan. How do you NOT know that?
I think people seriously believe that there are groves of MONEY Trees that the Federal government own that actually provide the Cash to run things, support pensions, provide the jobs & goods that we all depend on.
Yes - CaLPERS is a good example of how Investments support those on a Pension. I don't know if they are the Largest in the USA, but they claim to be one of the Largest in the World.
I think people seriously believe that there are groves of MONEY Trees that the Federal government own that actually provide the Cash to run things, support pensions, provide the jobs & goods that we all depend on.
Yes - CaLPERS is a good example of how Investments support those on a Pension. I don't know if they are the Largest in the USA, but they claim to be one of the Largest in the World.
It's good to learn that conservatives support public sector pensions.
Maybe now y'all will stop trying to eliminate them like y'all did in Texas?
Is the criteria at City Data now that if a LINK is posted, that means the person that posted the LINK "supports" what it says?? That's very strange.
It's also pretty strange to assert that there are no "public sector pensions" in the State of Texas.
It's also very incorrect. Where do people get such wild ideas?
It's good to learn that conservatives support public sector pensions.
Maybe now y'all will stop trying to eliminate them like y'all did in Texas?
You can be sure that a lot of conservatives have shot off their own toes by going after public pensions and ripping apart the unions. What we ended up with is stagnating/shrinking wages, decimated benefits and foreign outsourcing for their efforts. The company I work for has all but eliminated all the well paying jobs and continues to move jobs to cheaper overseas markets. This will be the legacy we leave our children. Low paying jobs, no health care and the expectation that people find a way to retire with dignity on what is leftover.
No wonder people are having fewer children, won't buy houses and cars and put off household formation. Some look to Trump to save their sorry azzez. Anyone from the lower middle class like to comment on how that's working out so far?
BTW, I support any well funded pension that doesn't rely on overly optimistic financial projections and ever increasing taxes to cover entitlements. As opposed to debt and tax increases and corporate handouts to bail them out.
Right and with a decade of great returns for equities and bonds why should we increase our debt to drive corporate profits even higher? Meanwhile wages have remained stagnant? Do you need a link for that? The fact is that the people who need the relief are not going to see a penny of it.
Wasn't that the point of this whole "populist movement"? To fix things for those left behind?
If you have both a pension and retirement account you are doing just fine. Now what about all the folks who have seen salaries and wages stagnate while these same US corporations are cutting well paying jobs, pensions and benefits and shipping jobs overseas. Raise taxes on 21 million families to help out those with pensions and significant market exposure?
US Corporations are moving off-shore because of the High US Tax Rates on those same Corporations. The profits are not taxed unless they come back to the USA ...... so they don't come back and they don't use those profits in the USA to build more business, hire more people, increase wages AND support the US Tax Structure.
This is not Rocket Science. There are many reasons that wages have been stagnant - a big part of it has been the Uncertainty of the last decade, concerns about the exploding Health Care costs and TAXES.
From the White House to Capitol Hill, Republicans are determined to lower the 35 percent corporate tax rate — the highest of any developed economy.
Matt Gardner is a Senior Fellow with the Institute on Taxation and Economic Policy, a liberal, Washington-based think tank.
MATT GARDNER:
The biggest, most profitable corporations are now finding it almost routine to escape paying the 35 percent tax. In some cases, they’re easily finding ways to avoid paying any income tax at all.
PATRICIA SABGA:
When a major corporation basically shifts a lot of its profits overseas how then do ordinary Americans end up footing the bill?
MATT GARDNER:
The most direct way is through large scale spending cuts healthcare, transportation, education, all the public services that we find most vital.
MATT GARDNER:
We counted 10,000 tax haven subsidiaries among Fortune 500 corporations. Deferral creates a clear incentive for companies to shift their activities offshore, but more damagingly, it creates a clear incentive for them to pretend they’re shifting their activities offshore.
PATRICIA SABGA:
Pretending to shift activities offshore is also the main critique of another legal tactic known as an inversion. That’s when an American company changes its corporate citizenship by acquiring a firm based in a lower tax country or jurisdiction. Since the 1980s, more than 50 American companies have pulled this off…with 25 such deals in the past five years alone.
The way that the GOP tax cut is structured the middle class will be financing tax cuts for the wealthy and corporations that are already seeing record profits. Wages are not going up and will not go up.
Meanwhile Trump and his cronies continue to distract their minions with talk about Hillary Clinton while they pick the middle class pockets. The corporate tax cuts will be permanent, the individuals tax cuts "temporary". The money will flow to CEO bonuses and wealthy shareholders and the debt will continue to rise.
“As a CEO (and in prior roles) I was involved in hiring and determining salaries for 1000s of people over 25 years. From real world experience I can tell you that tax rates literally never came up in any discussion about hiring or pay levels.”
Nothing but pure partisan B.S.!
You are so far off base there is no reason to attempt to have an "honest" discussion with you.
Your bizarre CalPERS argument has been debunked in at least a dozen threads over the past few years, but you keep posting it over and over again.
Nope. Corporate debt is still an investment, just like a mortgage-backed security. A mortgage is paid with AFTER tax $, only the interest is deductible, not repayment of the principal. Corporate debt works the same way.
In all... if you want people to get their pensions or draw on their appreciated retirement accounts, you agree that corporations must earn profits.
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