Posted on 4/29/2017, 12:38:33 PM by Kaslin
THE GOOD (ACTUALLY GREAT)
A fifteen percent top tax rate for business and the repatriation of trillions of dollars of untaxed funds stuffed overseas is beyond good. And if there is a single President Trump tax proposal that should be embraced by progressives, this is the proposal they should embrace.
If corporate income is going to be taxed at 15% instead of 35%, corporate profits will explode. If corporate profits explode, the stock market should explode. Who are the largest holders of U.S. stocks?
Today, virtually every government pension plan is dramatically underfunded. These pensions have begun to squeeze state and municipal budgets and ultimately the required funding of these pensions will strangle the ability to provide public services in virtually every governmental organization in the United States. All services will be reduced including every public service, including police and fire. The thought of the tax dollars necessary to fund these pensions is absolutely mind boggling. The staggering amount of taxes needed would have to be paid through regressive taxes, sales taxes. There is no other source of funds that could make a dent in the state/municipal pension fund deficits.
Perhaps a reduction in the Federal corporate tax rate is the only way to right the governmental pension ship; those public companies are about fifty percent owned by the pension plans. A lower tax rate will increase the value of those stock portfolios and provide a onetime increase in the value for every pension plan in the United States.
The most monstrous and unforgivable legacy of progressive state and municipal governments is the unfunded government pensions that they have created. A fifteen percent corporate tax rate and return of trillions of dollars currently overseas may be the only possible solution to the progressive created problem of underfunded pensions.
And if there is anything wrong with the rest of America catching a break from higher stock prices, this author has no idea what it is.
And yes, a 15% corporate tax rate will keep more jobs and more business in the United States.
Winner, Winner, Winner.
Canada has the low corporate tax rate and keeps progressive minded voters happy with social liberalism, the ‘health care’ program, liberal immigration and soon legalized pot.
Of course they turn around and make little progressive Canadians and all little Canadians pay for it all with income taxes, sales taxes and soon the carbon tax and marijuana tax.
The subversives (there’s nothing progressive about them) are only interested in bringing the country down and licking the a$$es of their globalist gods.
They’re not progressives, they are marxists, and marxists want all the means of production in the hands of the collectivity - notice what Venezuela just did?
(Venezuela seized GM and its assets in Venezuela).
The corporate tax should pay ONLY for defense. We all end up paying for it anyway.
There is a dirty little secret that the “progressives” don’t want LIVs to know: that at the end of the day, corporations and businesses do NOT pay taxes, they just COLLECT them from their customers by including all taxes in the prices of their products/services. Corporate/business taxes are the most “regressive” tax there is, because it is COLLECTED from all of the customers regardless of their income level, even from welfare recipients!
In our current system of generating most federal revenue from individual income taxes, the corporate/business tax should be effectively zero (there are few exceptions).
Much better economically were the rate to be reduced to 0% or at most a nominal 1%.
Unfortunately, liberals / Democrats are not rational.
The Lefties can not grasp the fact that a lower tax rate would increase economic activity, in turn increasing government revenue as accurately described by even JFK. But then some lefties don’t care if a tax increase reduces economic activity out of “fairness”, it’s not “fair” that some do better than others.
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