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If you read my posts that what I tried getting across to FatBob. Get rid of the corporate tax then the revenue has to come from someplace, meaning the populace. The right hates the European methods yet they insist on doing exactly what it takes to install that system, talk about stupid...........
He's claiming every country out there has lower corporate taxes but won't name any. He knows he is lying and just parroting a talking point.
Even if they do I wager they have less tax loopholes than the U.S.
A lot of countries understand it's a privilege, not a right for a business to operate in it.
A countries level of infrastructure, education of its people, defense, etc are all driving factors for a companies profitability just like where we choose to live. The people have to pay taxes for all that, having companies pay for access to the greatest capitalist marketplace on the planet, at today's rates, is a small price for them to pay. They're more then welcome to move to a place like Somalia. Someone else would replace them here in a heart beat.
Corporate taxes done simple: remove tax on foreign profits. Remove ability to use tax havens for US earned taxes. Tax rates stay the same. Foreign businesses pay US taxes on their income earned here.
We're talking about 188 other countries with lower corporate taxes than us and more on top of them that have 0% .
That's an awful lot of specific information you're asking for and I'm not inclined to take the time and effort to look it up on my phone to satisfy you.
A lot of countries understand it's a privilege, not a right for a business to operate in it.
A countries level of infrastructure, education of its people, defense, etc are all driving factors for a companies profitability just like where we choose to live. The people have to pay taxes for all that, having companies pay for access to the greatest capitalist marketplace on the planet, at today's rates, is a small price for them to pay. They're more then welcome to move to a place like Somalia. Someone else would replace them here in a heart beat.
Corporate taxes done simple: remove tax on foreign profits. Remove ability to use tax havens for US earned taxes. Tax rates stay the same. Foreign businesses pay US taxes on their income earned here.
Don't like it, don't let the door hit ya.
Those same countries also understand its important to tax all people - including the poor and the ultrarich. As I said earlier, I wouldn't have such a problem with lower corporate taxes if we followed suit in how these other countries tax their population.
"LaVorgna writes that gross business investment as a share of GDP since 1960, averaging 13% over time with a standard deviation of 1.3%, meaning that there have been few major changes in the investment tendencies of American businesses.
In 1986, when the Reagan administration passed its tax cut — which Trump has so often said he would seek to outdo — the corporate rate fell from 40% to 34%. This lower rate, however, did not shift the investment habits of corporations. In fact, investment has fallen in the roughly thirty years since this cut passed relative to the 26 years tracked by LaVorgna before this cut, though corporate taxes have been lower during that period.
“From 1960 to 1986, the corporate tax rate averaged 48%, and the gross investment share of GDP averaged 13.3%,” LaVorgna writes. “From 1987 to present, the corporate tax rate has averaged about 35%, and the gross investment share of GDP averaged 12.7%. Even if we take out 2009, when the share plunged to a record low of 9.8%, the average increases just a tenth to 12.8%.
“Clearly there is no correlation between the tax rate and the share of business investment in the economy.”
Take 2 minutes to research what has happened in Ireland since the reduced corporate tax rates and you'll be able to answer your own question.
A lot of countries understand it's a privilege, not a right for a business to operate in it.
A countries level of infrastructure, education of its people, defense, etc are all driving factors for a companies profitability just like where we choose to live. The people have to pay taxes for all that, having companies pay for access to the greatest capitalist marketplace on the planet, at today's rates, is a small price for them to pay. They're more then welcome to move to a place like Somalia. Someone else would replace them here in a heart beat.
Corporate taxes done simple: remove tax on foreign profits. Remove ability to use tax havens for US earned taxes. Tax rates stay the same. Foreign businesses pay US taxes on their income earned here.
Countries with a lower corporate tax rate than the U.S.:
(Partial list)
Argentina
India
France
Brazil
Venezuela
Belgium
Ireland
Paraguay
Bosnia
Albania
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