Yeah, I always remember my father who was also in business shaking his head in the early 90s and saying, "when did we become the enemy?".I believe the top corporate tax rate is 39%, the oft cited effective rate corp america pays is 28%. Have you ever thought about how many small and mid-size corps must pay in excess of 28% to offset the fortune 500 corps that effectively pay 0% or 19%?Why are you saying something so fucking stupid. The tard runs deep in your family.Name new GOP policies that will fix some of that destruction.
very very simple!! eliminate the highest corporate tax in the world that our corporations must dodge by moving to places like China!!
Fact Sheet: Corporate Tax Rates | Americans for Tax Fairness
Key Facts
- Corporate share of federal tax revenue has dropped by two-thirds in 60 years — from 32% in 1952 to 10% in 2013.
- General Electric, Boeing, Verizon and 23 other profitable Fortune 500 firms paid no federal income taxes from 2008 to 2012.
- 288 big and profitable Fortune 500 corporations paid an average effective federal tax rate of just 19.4% from 2008 to 2012.
- Profitable corporations paid U.S. income taxes amounting to just 12.6% of worldwide income in 2010.
- U.S. corporations dodge $90 billion a year in income taxes by shifting profits to subsidiaries — often no more than post office boxes — in tax havens.
- U.S. corporations officially hold $2.1 trillion in profits offshore — much of it in tax havens — that have not yet been taxed here.
As far as foreign profits, I believe the US is the only member of the OECD that taxes foreign profits. Think about it, you make $100 in europe pay their 28% then bring back the money and pay an additional 39%. And people wonder why they don't repatriate the money. After euro taxes you have $78 to work with, bring it back to the US and you have $48-49. This is a problem of our own making.
yep eliminate the tax and corporations from all over the world would be flooding into America exactly as they did to Ireland when it lowered its corporate tax to 11%. THe recession would be over in a week and we'd have a million employees, at higher wages, but Marxist Nazi-like liberal hatred of corporations prevents them from doing it!!
You know there are some other things that worry me. Even if many of the manufacturing jobs started to come back, it's almost impossible to find experienced people to do the jobs. We've lost a lot of talent over the years.