It's Time to Lower Corporate Taxes

[ShackledNation]

How is it that Japanese companies have off shored to the US, where taxes are higher?

United States corporate taxes vary from 15-35%. Japan's corporate tax rate is just 35%. At worst the tax rates are the same. At best they are lower. I have no idea where you got the idea they are higher.

 

[Shanty]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

That would definitely caused humongous deficits and debt.

 

[Skull Pilot]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

That would definitely caused humongous deficits and debt.

No it wouldn't.

in 2012 the total income earned in the US was 13.4 trillion
The total tax collected was 866 billion.

https://bber.unm.edu/econ/us-tpi.htm

Summary of Latest Federal Individual Income Tax Data | Tax Foundation

If we had a 10% flat tax on all income we would have collected 1.34 trillion in taxes in 2012

And we could save billions more by downsizing the IRS from its almost 13 billion dollar budget.

People in general would save millions more by not having to hire people to do their taxes

Tell me where do you see greater deficits when we will actually be collecting more revenue and spending less both in government and personally?

 

[Shanty]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

That would definitely caused humongous deficits and debt.

No it wouldn't.

in 2012 the total income earned in the US was 13.4 trillion
The total tax collected was 866 billion.

https://bber.unm.edu/econ/us-tpi.htm

Summary of Latest Federal Individual Income Tax Data | Tax Foundation

If we had a 10% flat tax on all income we would have collected 1.34 trillion in taxes in 2012

And we could save billions more by downsizing the IRS from its almost 13 billion dollar budget.

People in general would save millions more by not having to hire people to do their taxes

Tell me where do you see greater deficits when we will actually be collecting more revenue and spending less both in government and personally?

First, your numbers are way off.

Just in personal and corporate income tax alone, $1.4 trillion was revenues.
https://en.m.wikipedia.org/wiki/2012_United_States_federal_budget#Total_receipts
And basically, this is just on the discretionary side. On the payroll side, for Medicare and Social Security, people already pay into a flat tax. The upside to that is that Social Security is progressive in how it's paid out.

Plus, a flat tax is regressive, as it puts a larger burden on the poor, who need a much higher portion of their money to live on than the wealthy. Now, I have no issues with streamlining the IRS, by ridding deductions, but there still would have to be a progressive marginal rate. Lower for the poor, while being higher for the rich.

I'd steer clear of the a Tax Foundation for good numbers (I know... I used Wikipedia for brevity in my post, so just know I realize the problems using wiki can bring to a discussion). The Tax Policy Center is a far better source. So is Citizens for Tax Justice. They use better research without the spin.

 

[OnePercenter]

I hate that governments consider stolen money "revenue".

Who's going to pay for the streetlights?

 

[OnePercenter]

And the problem we face is that lawmakers have put these favoritism-style loopholes into the tax codes (that usually benefit specific industries, companies, etc..) because they were riled by lobbyists to do so for other favors. So we continue to find ways around this problem instead of addressing it head-on formally in congress.

Why don't you write a bill that doesn't have loop-holes.

 

[OnePercenter]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

Except you'll reduce effective corporate tax to zero and raise taxes for workers.

 

[OnePercenter]

How is it that Japanese companies have off shored to the US, where taxes are higher?

It is?

 

[Dot Com]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

Except you'll reduce effective corporate tax to zero and raise taxes for workers.

that

wonder if OP knows the diff between what the rate is and what the corps actually end up paying?

 

[Toro]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

Except you'll reduce effective corporate tax to zero and raise taxes for workers.

Lower the tax rate and close the loopholes.

 

[william the wie]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

Except you'll reduce effective corporate tax to zero and raise taxes for workers.

Lower the tax rate and close the loopholes.

That would also massively reduce corruption and if the left stands for anything it is corruption uber alles.

 

[OnePercenter]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

Except you'll reduce effective corporate tax to zero and raise taxes for workers.

that

wonder if OP knows the diff between what the rate is and what the corps actually end up paying?

I doubt it. He's a libertarian so I doubt he knows what day it is.

Or is able to find his bedroom without GPS.

Or knows what GPS is.

 

[OnePercenter]

Except you'll reduce effective corporate tax to zero and raise taxes for workers.

Lower the tax rate and close the loopholes.

That would also massively reduce corruption and if the left stands for anything it is corruption uber alles.

So the private yacht, private jet, and corporate inversion, are Democrat sponsored deductions?

I have 200 more if you have the time.....

 

[TakeAStepBack]

And the problem we face is that lawmakers have put these favoritism-style loopholes into the tax codes (that usually benefit specific industries, companies, etc..) because they were riled by lobbyists to do so for other favors. So we continue to find ways around this problem instead of addressing it head-on formally in congress.

Why don't you write a bill that doesn't have loop-holes.

Did you just go full retard? Really?

 

[TakeAStepBack]

I hate that governments consider stolen money "revenue".

Who's going to pay for the streetlights?

Who is going o pay for the shoes to walk around?

 

[OnePercenter]

And the problem we face is that lawmakers have put these favoritism-style loopholes into the tax codes (that usually benefit specific industries, companies, etc..) because they were riled by lobbyists to do so for other favors. So we continue to find ways around this problem instead of addressing it head-on formally in congress.

Why don't you write a bill that doesn't have loop-holes.

Did you just go full retard? Really?

He made an argument and I asked him to qualify it.

 

[OnePercenter]

I hate that governments consider stolen money "revenue".

Who's going to pay for the streetlights?

Who is going o pay for the shoes to walk around?

Thanks to Republicans you pay for my shoes. My lifestyle is supported by an incorporated trust. My lifestyle are expenses of said trust, thus deductible. Thanks for voting Republican and supporting my lifestyle!

 

[KissMy]

Clinton raised taxes & jobs came to the USA. Bush lowered tax rates & jobs left the USA. That is because fiscal responsibility & properly regulated markets trumps tax rates.

 

[Ravi]

How is it that Japanese companies have off shored to the US, where taxes are higher?

It is?

Wait! You're saying corporations in the US have a low tax rate??!

 

[Ravi]

I'm for one tax rate for both corporations and individuals.

10% of all income from the first dollar. Done.

No accountants needed, no tax lawyers needed, and we could gut the fucking IRS to the bone.

Gross income or net income?