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Keyword: corporatetax

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  • Tax Reform Is Boosting Take-Home Pay for Millions of Americans. Here’s the Proof.

    03/30/2018 10:44:01 AM PDT · by Tolerance Sucks Rocks · 15 replies
    The Daily Signal ^ | March 22, 2018 | Mary Kate Hopkins
    For a nation accustomed to instant gratification, the Tax Cuts and Jobs Act is a winner.Before President Donald Trump even signed the bill, companies were announcing employee pay raises, bonuses, and increased investments to grow their businesses and bring operations back from overseas.Among the first out of the gate was AT&T, which said it would give $1,000 bonuses to more than 200,000 nonmanagement employees and make an additional $1 billion investment in the United States. Boeing put $100 million toward training, education, and other workforce development. Walmart expanded paid parental leave and boosted starting wages to $11 an hour.Then in...
  • 4 Of The Biggest Myths About The Tax Cuts And Jobs Act

    12/20/2017 9:39:57 AM PST · by Kaslin · 37 replies
    The Federalist ^ | December 20, 2017 | Justin Haskins
    The Tax Cuts and Jobs Act cuts rates for most tax brackets, substantially reduces business taxes, increases the standard deduction, and eliminates many tax loopholes and deductions. Congress passed historic, far-reaching tax reform legislation this week, and President Donald Trump is expected to sign it into law soon after some technical fixes. The Tax Cuts and Jobs Act cuts rates for most tax brackets, substantially reduces corporate and small business taxes, increases the standard deduction for individuals and couples, and eliminates many tax loopholes and deductions.Since Republicans first rolled out their plan to implement tax reform, liberal pundits and Democrats...
  • Exclusive: Trump, GOP to cut top individual rate to 35%, Corporate tax rate from 35% to 20%.

    09/24/2017 10:16:17 AM PDT · by SeekAndFind · 55 replies
    Axios ^ | 09/23/2017 | Jonathan Swan
    President Trump and Republican leaders plan to cut the top tax rate for the wealthiest Americans to 35 percent and dramatically reduce taxes on big and small businesses, according to details leaked to Axios. Why it matters: It's the first glimpse of the tax reform plan agreed upon in secret between the "Big Six" congressional leaders and administration officials. It forms the starting point of the tax reform process, which will play out over the coming months. The big change: The GOP leaders and the White House plan to cut the top tax rate for “pass through" businesses from...
  • Apple is named the biggest corporate tax avoider in the US after booking $218 BILLION

    10/04/2016 5:25:01 PM PDT · by Beave Meister · 25 replies
    Daily Mail ^ | 10/4/2016 | KEITH GLADDIS
    Apple has been named as the biggest corporate tax avoider in the United States after booking $218.55 billion (£171.6 billion) of profit offshore last year. The tech giant was able to save $65.08 billion (£51.1 billion) that it should have paid in tax thanks to its convoluted arrangements. The report revealed that last year three quarters of the Fortune 500 companies use subsidiaries in offshore tax havens where they sent a total of $2.42 trillion (£1.9 trillion) of income. In the US alone this amounted to $715.62 billion (£561.9 billion) in tax which they avoided paying. The report of said...
  • 'Gigantic' corporate tax hike likely headed to Oregon voters

    05/23/2016 7:40:16 PM PDT · by Olog-hai · 57 replies
    Associated Press ^ | May 23, 2016 7:33 PM EDT | Kristena Hansen
    A massive $2.8 billion annual corporate tax hike is likely headed to Oregon voters in November, a move that could create the most aggressive tax climate for big business of any state in the nation. The ballot proposal comes as raising taxes on the wealthy and large corporations is at the forefront of a national debate — especially among Democratic progressives such as Bernie Sanders and much of Oregon’s electorate — about how to close the gaping economic disparities between rich and poor in a post-Great Recession era. The proposal’s labor-union backers are just one step from getting the measure...
  • The Trump Campaign Shows Its Policy Chops (Jobs)

    05/05/2016 5:39:42 PM PDT · by jazusamo · 9 replies
    Creators Syndicate ^ | May 4, 2016 | Betsy McCaughey
    The rap on Donald Trump is he's all bluster. The New York Times says he's offering "incoherent mishmash." GOP rival Ted Cruz claims Trump has "no idea" how to fix the economy. Don't' believe it. The Trump campaign is putting forward proposals to fix problems facing the nation, from the long waits for medical care at the VA to the impending collapse of Obamacare. Check out Trump's economic plan, for starters. Unlike Hillary Clinton's radical anti-business agenda, Trump's plan would actually help unemployed Americans get back to work. Trump slashes the corporate tax rate to 15 percent, down from the...
  • Free Trade and the De-Industrialization of the United States

    04/06/2016 5:07:12 AM PDT · by central_va · 95 replies
    economyincrisis ^ | 4/5/16 | McKenna Service Company
    Manufacturing was the economic growth engine of United States. It helped to create the high paying jobs, improved living standards, national wealth, military might, and tax revenues. Unfortunately, there has been a dramatic decline in the above scenario for the United States in the 21st century. The U.S is rapidly turning into non-Super Power second rate country. Manufacturing is the basis for research and development and National Defense and once represented more than 28% of the jobs in the U.S. Although the absolute number of jobs in American manufacturing was rather constant at about 17 million from 1969 to 2002,...
  • Trump Supporter, Billionaire Investor Carl Icahn Starts $150M Super PAC

    10/22/2015 1:02:37 PM PDT · by Helicondelta · 24 replies
    upi.com ^ | October 22, 2015
    Billionaire investor and longtime Donald Trump supporter Carl Icahn announced he is launching a $150 million super PAC to revise corporate tax law. Trump has indicated Icahn may be his choice for Treasury secretary should he win his bid for president. Icahn, in a letter to House and Senate leaders, said he wants Congress to pass legislation that will stop U.S. companies from moving profits overseas for lower tax rates, formally known as corporate tax inversions. He said lawmakers must be "accountable for the current gridlock in Congress that prevents important legislation from being passed." "In the last few years...
  • Ireland likely to face censure over Apple tax (EUSSR attacks)

    09/09/2015 1:56:58 AM PDT · by Olog-hai · 18 replies
    Irish Times ^ | Tue, Sep 8, 2015, 13:07
    Ireland will probably face censure from European authorities within months in relation to its tax dealings with Apple, according to a person with knowledge of the matter. A finding against Ireland will spark a legal battle that may last years, as the government is ready to fight the decision in the European Union Court of Justice, it’s understood. In preliminary findings last year, European antitrust authorities said Apple’s tax arrangements were improperly designed to give the iPhone maker a financial boost in exchange for jobs in the country. Apple said in 2013 it had paid an effective tax rate of...
  • Digging into Northeast neglect

    08/22/2015 8:05:46 PM PDT · by Tolerance Sucks Rocks · 26 replies
    The Baltimore Sun ^ | August 21, 2015 | The Baltimore Sun
    It may have escaped the attention of Baltimoreans but things have gotten a little testy in the New York-New Jersey area in recent weeks over the state of century-old rail tunnels running under the Hudson River. The deteriorating condition of the tunnels is threatening Amtrak and other rail service, but how to pay for a $14 billion-plus replacement has proven a challenge. Unfortunately, that's not just a problem for New York City but for Baltimore and other stops along Amtrak's Northeast Corridor, the nation's most heavily traveled railway handling more than 750,000 passengers a day. The stations in Baltimore and...
  • Delaney visits Hagerstown to push corporate-funded infrastructure bill

    05/19/2015 11:12:47 PM PDT · by Tolerance Sucks Rocks · 6 replies
    The Hagerstown Herald-Mail ^ | May 6, 2015 | Don Aines
    Rep. John Delaney was in Hagerstown Wednesday to pitch his proposal for long-term funding of transportation and other infrastructure projects by repatriating the overseas earnings of American corporations. "There hasn't been anything really transformative to put a lot of money into infrastructure," Delaney, D-Md., told a small group of businesspeople at Bulls & Bears restaurant. He pointed out that the federal gas tax — the primary source of revenue for the Highway Trust Fund — has not been increased since the early 1990s, in part, because it is politically unpopular. It also is a regressive tax that hits lower-income people...
  • URGENT: White House Confirms Obama Planning Huge New Executive Order

    03/14/2015 12:03:25 PM PDT · by lbryce · 123 replies
    Here we go again. White House press secretary Josh Earnest has officially confirmed that President Barack Obama plans to implement yet another executive order. This one is slated to send tax rates skyrocketing through the roof! The hoopla started last Friday, when Vermont Sen. Bernie Sanders submitted a letter to the White House that asked the president to nullify six currently active corporate tax breaks. Closing these tax breaks would raise $100 billion in a decade, but also cost us innumerable jobs. When questioned about this letter by Ed Henry, senior White House correspondent with Fox News, Earnest first tried...
  • Obama "Very Interested" In Raising Taxes Through Executive Action

    03/02/2015 5:16:42 PM PST · by amnestynone · 77 replies
    townhall ^ | March 2, 2015 | Conn Carroll
    White House Press Secretary Josh Earnest confirmed Monday that President Obama is "very interested" in the idea of raising taxes through unitlateral executive action. "The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans," Earnest said in response to a question about Sen. Bernie Sanders (I-VT) calling on Obama to raise more than $100 billion in taxes through IRS executive action. "Now I don't want to leave you with the impression that there is some imminent announcement, there is not, at least that I know of,"...
  • ‘Imagine that!’ Josh Earnest: Obama could use ‘executive action’ to raise corporate taxes

    03/02/2015 12:19:38 PM PST · by C19fan · 16 replies
    Twitchy ^ | March 2, 2015 | Staff
    As with so many other things, when it comes to finding ways to pad the government’s pockets, President Obama prefers to skip over that whole Congress thing. Just ask Josh Earnest! According to him, forcing corporations to pay more in taxes through executive action is an option the president would like to keep on his table:
  • Obama’s Corporate Tax Raid Would Sack the Elderly

    02/02/2015 9:20:35 AM PST · by Rusty0604 · 12 replies
    Breitbart ^ | 02/02/2015 | Peter Morici
    Posturing as champion of needed public investments and fairness, President Obama wants new taxes on the overseas earnings of American businesses. ... The United States is virtually alone by taxing the overseas profits of its multinationals when those are repatriated. ... Now the president wants an immediate 14 percent tax levy on those assets to raise about $500 billion and to impose a 19 percent tax on future earnings to finance infrastructure investments. Much of the $2.1 trillion in non-repatriated corporate overseas profits is not parked in foreign bank accounts. Rather, it is already invested by firms like GE and...
  • How to Sell a Corporate Tax Cut: Republicans can do it with a little creativity

    10/04/2014 10:15:43 AM PDT · by SeekAndFind · 4 replies
    American Thinker ^ | 10/04/2014 | Scott Mayer
    Finding a way to prevent the next Burger King from fleeing the U.S. (to avoid paying the highest corporate tax rates in the world) appears to rank fairly high on the priority list for both Republicans and Democrats. But the two parties couldn’t be farther apart on the appropriate policy to end these so-called “unpatriotic” tax inversions. No strangers to coercion, the Obama administration via Treasury Secretary Jack Lew recently announced that through the use of executive action, “the agency would change several tax rules to stop companies from buying smaller, foreign firms and then moving out of the U.S.”...
  • Executive action on tax deals could come next week, Dem says

    09/12/2014 9:12:03 AM PDT · by jazusamo · 12 replies
    The Hill ^ | September 12, 2014 | Bernie Becker
    A senior Democratic tax writer said Friday that the Obama administration could take unilateral action targeting offshore tax deals before Congress leaves town for the midterm elections. Rep. Sandy Levin (D-Mich.) said that Treasury Secretary Jack Lew told a group of House Ways and Means Democrats on Wednesday that the White House would roll out administrative actions against the recent influx of so-called inversions “when they’re ready.” “That could be next week,” Levin said at a breakfast sponsored by the Christian Science Monitor. Lew has only said that the administration would decide in the “very near future” how to respond...
  • Obama Silent on Chrysler Tax Inversion Deal

    09/09/2014 9:19:47 AM PDT · by jazusamo · 13 replies
    NLPC ^ | September 9, 2014 | Mark Modica
    It's official. Chrysler has now wholly-merged with Italian auto maker, Fiat. It had taken a bit over five years for Fiat to gain total control of the bailed out, once-American Chrysler Corporation. Back in June of 2009, President Obama gifted (payment was made in the form of "technology") an initial 20% stake in Chrysler to Fiat as part of his orchestrated auto bailout process. Fiat parlayed that into full ownership and is now showing its gratitude to the American taxpayers who helped fund the deal by relocating Chrysler's headquarters to London ; a move which will lessen the company's...
  • Abolish the Corporate Tax: It’s dumb, corrupt, onerous, and pointless.

    09/04/2014 7:04:44 AM PDT · by SeekAndFind · 27 replies
    National Review ^ | 09/04/2014 | Kevin D. Williamson
    The nominal corporate-income-tax rate in the United States is 35 percent, the highest in the developed world. That’s the on-paper rate. The effective corporate-income-tax rate — i.e., the actual rate — is . . . a matter of some dispute, but Martin A. Sullivan, a highly regarded economist specializing in taxation, puts it around 28 percent. Others have estimated the rate to be much lower: A Government Accountability (ha!) Office study put the figure at about 13 percent. Let’s put it at 0.00 percent. In reality, the effective corporate tax rate varies substantially from firm to firm and from industry...
  • Confiscatory Taxes, Eh? What does "Economic Patriotism" Really Mean?

    08/27/2014 7:25:57 AM PDT · by SeekAndFind · 8 replies
    National Review ^ | 08/27/2014 | The Editors
    If you’re looking to move from Miami to Canada, as Burger King Worldwide is, chances are excellent that your motive is something other than the weather. The word “inversion” has entered the popular vocabulary, describing a tax-driven corporate merger in which a U.S. firm acquires an overseas company and then relocates its legal domicile to that firm’s home tax jurisdiction. The purpose of this is in no small part to escape the onerous U.S. corporate income tax. That’s what Burger King is looking to do by acquiring beloved Canadian doughnut chain Tim Hortons, which is based in Ontario. A number...