Trump to cut corporate tax rate to 15%

Tsing Tao · Apr 25, 2017

Covertibility said:
Floating around on twitter:

This looks like a Very Serious problem.

A good portion of this is probably due to the avoidance schemes of US corporations, not the tax rate itself.

If the corporate tax rate is 35%, and companies like GE or Google avoid the entirety of the tax, what difference does the rate make? If you make the rate 15%, close the abilities to offshore profits, then you're getting more money, not less.

Covertibility · Apr 25, 2017

Tsing Tao said:
A good portion of this is probably due to the avoidance schemes of US corporations, not the tax rate itself.

If the corporate tax rate is 35%, and companies like GE or Google avoid the entirety of the tax, what difference does the rate make? If you make the rate 15%, close the abilities to offshore profits, then you're getting more money, not less.

That's the logical argument but there's gotta be something wrong that thinking, or at least something to do with the mechanics of such a tax cut, otherwise politicians would've done this earlier.

Tsing Tao · Apr 25, 2017

Covertibility said:
That's the logical argument but there's gotta be something wrong that thinking, or at least something to do with the mechanics of such a tax cut, otherwise politicians would've done this earlier.

There could be. Or it could be in existence because politicians have long been lobbied (and had their campaign contributions given) by those very same companies that benefit and would get hit were these loopholes closed.

fhl · Apr 25, 2017

Seems to correspond pretty closely with the original chart.

jem · Apr 25, 2017

why are you always presenting charts after dividing against gpd. doing that that can hide the truth far to easily...

but even if there is a reason to like you measure to be fair you should be looking at real gdp and take out inflation.

Covertibility said:
Floating around on twitter:

This looks like a Very Serious problem.

Cuddles · Apr 25, 2017

Tbf, I the Bush extension tax rate is currently at what, 12%?

peilthetraveler · Apr 25, 2017

CaptainObvious said:
I thought hiring was directly tied to demand for products and/services. So we give the thieves a tax break and suddenly demand for products and services go up? BULLSHIT. We've seen this scam before. We need to see hiring first. Hire people and you get a tax break. Don't hire, no tax break. Downsize, tax penalty. Anything else just puts more money into the pockets of the boardroom boyz.

What do you think those "boardroom boyz" do with that money? You think they just put it under a mattress and let it sit there? You think they just leave it in their personal checking accounts? These people spend that money on new businesses which means new jobs. They innovate and they use their money to make lives better and they are very efficient at it.

People who don't pay taxes shouldn't get to complain about taxes.

Cuddles · Apr 25, 2017

peilthetraveler said:
What do you think those "boardroom boyz" do with that money? You think they just put it under a mattress and let it sit there? You think they just leave it in their personal checking accounts? These people spend that money on new businesses which means new jobs. They innovate and they use their money to make lives better and they are very efficient at it.

People who don't pay taxes shouldn't get to complain about taxes.

Does the irony escape you?

CaptainObvious · Apr 25, 2017

peilthetraveler said:
What do you think those "boardroom boyz" do with that money? You think they just put it under a mattress and let it sit there? You think they just leave it in their personal checking accounts? These people spend that money on new businesses which means new jobs. They innovate and they use their money to make lives better and they are very efficient at it.

People who don't pay taxes shouldn't get to complain about taxes.

One. How the fuck do you know what I pay in taxes? Lets get to the point fuck stick. No, they do not reinvest to any great degree. They increase their own personal wealth and they do it on the back of the taxpayers. You, financial and business wizard that you are, can't see the obvious scam so let me clue your dumb ass how things work. Corporations don't pay taxes, none, zero, nada. Never have. Never will. Taxes are overhead and overhead is built into the price for goods and services. The customer pays all the taxes, all the time. Now this tax break might influence demand if they lowered the cost of the price accordingly. They won't, so this free money will have zero influence on demamd. Demand doesn't increase, why hire anyone? Idiots like yourself expext people to believe they'll hire people cause they're nice fucking guys who really care about America. I mean after all, they wear that little flag on their lapel and that's good enough for retards like you. They, like you, only practice capitalism when in comes to taking profits. When it comes to risk, investment and loses they like to spread that around just like the good little socialists they really are. And all of this gets facilitated by our criminal congress. People too fucking stupid to see this scam should not be allowed to vote. That would be you.

Cuddles · Apr 26, 2017

https://www.nytimes.com/2017/04/25/us/politics/tax-plan-trump.html

President Trump plans to unveil a tax cut blueprint on Wednesday that would apply a vastly reduced, 15 percent business tax rate not only to corporations but also to companies that now pay taxes through the personal income tax code — from mom-and-pop businesses to his own real estate empire, according to several people briefed on the proposal.

Fuk it, I could get behind the bolded.

http://www.cnbc.com/2017/04/25/pres...ore-earnings-held-by-us-companies-report.html

Another official said Trump would propose a repatriation tax on offshore earnings of 10 percent, compared with the current 35 percent, the report said.

He will bring back jobs they said. Hahahaha. I suppose something is better than deferral.