Posted on 08/28/2014 1:09:54 PM PDT by xuberalles
Actually what it means that, while BK will have to 35% on revenues in the US, it will not have to pay taxes to the Federal government on earnings overseas, that were already taxed!
It is a good move.
Want to bring them back? Enact the Fair Tax and watch business flock back the US.
Even semi-socialist Sweden’s corporate tax rates are aprox. half of USA. Russia has a flat income tax. China has no tax on capital gains. We are the new socialist country.
Yep, enact a flat corporate tax, BUT do away with any and all loopholes. A 20% corporate income tax, with no loopholes or corporate tax breaks would probably result in a net increase in tax revenue.
Excellent! Bump.
I advocate a zero corporate tax rate. You read that right, zero. You make money as a corporation, good for you. Tax it only when you pay it out to individuals as dividends. Look, a corporation makes money, pays corporate income tax. Then it distributes that income to shareholders, and, guess what - taxed again. We should be encouraging business in this country, not penalizing it. Corporate tax rate to zero and get out of the way as the economy skyrockets.
Ya, make the people in government responsible for this socialist experiment and all those who voted them into office PAY for it! They own that baby.
Next we will hear it is unpatriotic of Rush to flee New York’s taxes...
IIRC, Rush gets audited in New York every year anyway. NY sucks!!
I agree. Corporations don’t really pay the tax. It’s built into their price structure like any expense related to generating revenue.
Corporate tax is a loser. It punishes the efficient and productive corporations and rewards the in-efficient via tax loss carryovers. And it increases need for tax loop holes. By weakening domestic corporations, we weaken them against foreign corporations.
If corporate tax is zero, there is no need for loop holes.
Also, corporations never pay any taxes. They pass it on to the customers, share holders and employees. Corporations are never final owners. There are always individuals who own or control every cent of corporations (share holders, CEO types).
You are correct. Please read post #11.
Have it your way, eh.
An utterly sensible move. The best way to stop it will never be considered: lower the corporate tax rate.
Smart move.
Pay attention, socialists: you’re running out of other people’s money.
[ Next we will hear it is unpatriotic of Rush to flee New Yorks taxes... ]
They did in fact bitch about that....
http://www.huffingtonpost.com/2009/03/30/rush-limbaugh-to-new-york_n_181005.html
I do, too. Corporations don’t pay taxes, they just collect them.
And the American tax system is putting them a heck of a disadvantage at home and abroad.
Excellent vanity, one of the best I’ve ever read.
Thank you!
Too kind. Thanks so much!
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