Posted on 01/07/2019 9:05:04 PM PST by Beave Meister
House Budget Chairman John Yarmuth (D-Ky.) has announced that the forthcoming budget blueprint will call for a 33 percent corporate income tax rate by hiking the rate from 21 percent to 28 percent. This would make the U.S. a less competitive place to do business and make the U.S. statutory rate higher than many developed competitors.
State corporate taxes average 6 percent across the U.S, so this planned tax hike would give the U.S. an average top corporate rate of 34 percent.
The current combined corporate rate across the 36 member Organisation for Economic Development and Cooperation (OECD) is currently 23.7 percent.
This proposed tax hike would make the U.S. rate higher than major competitors such as the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), Germany (29.8 percent), and Ireland (12.5 percent).
"Hiking the tax rate on American businesses will kill jobs, lower wages, and reduce new investment in America," said Grover Norquist, president of Americans for Tax Reform. "Why do the Democrats want to damage American competitiveness and job creation?"
Not only will raising the 21 percent rate make America less globally competitive, it will also harm today’s strong economic growth, growing wages, record job openings, and lower utility bills.
Just last week, it was announced that the U.S. economy added 312,000 jobs in December. Over the past 12 months, wages have grown 3.2 percent and 2.6 million jobs being created.
(Excerpt) Read more at atr.org ...
Because the Trump economy is far too successful. They know he will be hard to beat in 2020 standing on a booming economy. So they have to slow down the economy, hurt businesses, hurt workers. All must be sacrificed for the greater good - their lust for power and control.
SUPER tax the Democrat Corporation.
Dead in the Senate, and if if they agree, Trump will veto it.
That’s all the UniParty wants to do: tax and spend......and, of course, line their pockets with the “uwnwashed masses’” money.
There aren’t many issues where I trust the Republicans to hold the line, but they DEFINITELY WILL when it comes to their Amnesty-loving donor base. This tax increase is DOA.
Since they don’t pay taxes they should not be afraid of a high tax rate since all corporations are taxed the same. They’re leftists for more money?
WHAT I REALLY HATE IS THE IDIOTS WHO VOTE FOR THESE FOOLS.
47% of our fellow citizens are too stupid to be allowed to vote. 6% probably are too stupid to be allowed to vote.
Remember growing up in high screwl? Half the class were below average and still are.
“Corp tax rates are zero.”
That’s really a hard pill for journalists or politicians to grasp. Every fee and tax handed to companies....go direct to the consumer. You go and put a 10-cent tax on diesel fuel, thinking that truckers and companies will absorb the tax...no, they pass it direct to the consumer. You go to bulk-electrical users and put a fee on their usage, it goes to the consumer to pay.
This is all about a fake message that Democrats want the public to think about.
Some folks think they are funny when they are just ignorant.
I want to lower the corporate tax rate to 0%. I stand more of a chance to succeed than Pelosi does.
” they don’t have a snowballs chance in hell of getting it passed in the Senate.”
Or the votes to over ride a veto
What is a hor? Why the acronym for the House of Representatives?
“they don’t have a snowballs chance in hell of getting it passed in the Senate.”
Now we can all see the brain-hobbling effects of legalizing marijuana in D.C, on parade.
“Such talk is insanity - and proves that Democrats care nothing at all about “fiscal sanity” (as Nancy Pelosi claimed), about jobs, about prosperity of the “common people” -”
ALL OF THIS is pointed at only ONE THING, undoing everything that Trump has accomplished. Too bad they are not going to get anything passed, unless the GOPE in the Senate AND the House sides with the RATs at a level necessary to override Trump’s vetos. And if they were to do that, it would mean the end of the Republican Party.
It’s supposed to be 70%
with AmazonBezos getting billion dollar tax breaks from Democrats, the biggest and wealthiest WON’T be paying this “tax the rich” money grab.
>>The leftards want to tank the economy and then blame it on Trump. A-Holes.
Absolutely
Too bad none of their insane crapola will get past the Senate.
It’s not that democrats are “that stupid”, it’s that they’re that hateful and can’t stand the idea of anyone not obeying their edicts having disposable income.
Stalinsts lie. Always
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