Ease corporate tax load

USA Today ^ | 3/10/04 | Bill Thomas

[Tumbleweed_Connection]

The United States imposes on its businesses and workers one of the highest corporate tax rates in the industrialized world. In addition to this high tax rate, rising health care costs, virtually unlimited liability exposure and the outdated manner in which U.S. businesses are taxed on their worldwide income have combined to put American companies and American workers in a dangerously uncompetitive position.

[raybbr]

Unfortunately, the World Trade Organization found this tax approach to be a subsidy violating our international trade obligations. As a result of our failure to repeal ETI, the European Union has begun to impose up to $4 billion in annual sanctions.

Sure, the WTO has got us by the balls and instead of fighting back we are supposed to do whatever they say.

[DustyMoment]

Can we say repeal corporate income taxes? Can we say national sales tax?

This guy gets it. The question is, will our president and politicians?

I'm not holding my breath!!!

[dalebert]

I am stil waiting for the American people to get it.

[harpseal]

One possible tax structure would be repeal of the Corporate income tax completely and its replacement with a Value added tax on imports. This could be entirely revenue neutral in that the same amount of money could be raised from both. Of course that would mean American businesses would be more competetive both here in teh USA and overseas.

That according to many of the so called Free Traders would be a bad thing.

[DustyMoment]

Back in the 70s or early 80s, a Congressman by the name of Al Ullman risked his political future on the VAT. The problem with the VAT is that it is not only not revenue neutral, it also adds tax upon tax.

A national consumer tax remains, IMO, the best option. This tax provides the advantage that it allows each consumer to tailor their own tax burden based upon their spending patterns.