Should we make the corporate tax rate 0%?

[WinterBorn]

We should push thru the Fair Tax Act. If we were to fund the federal gov't strictly by a consumption tax, our economy would recover and bloom into the most robust in the world.

 

[Spiderman]

This shall be paid for eliminating useless leftist government programs.

The good things from this?

Many MANY Jobs will be created in America, since companies will return to their homeland.

Corporate taxes and all income taxes should be one low flat rate for everyone. Period.

 

[Redfish]

I'd be in favor of that. But I'd also want to see some fundamental changes made to corporate law - particularly in the area of 'limited liability'.

So you want the employees to be personally liable for the acts of the corporation?

Employees should only be responsible for their own actions. I'm referring the limited liability of investors. If the owner of a non-incorporated company hires a manager with the blanket instructions to "do whatever it takes" to earn a profit, that owner will be, at least to some degree, liable for the actions of that manager. But if shareholders of and LLC elect a CEO, with essentially the same instructions, they get a pass.

I'm not sure exactly where the line should be drawn, but I think it needs to be reconsidered. As it is, the status quo of the corporate charter creates companies that enjoy special rights not afforded to non-incorporated companies. That's fundamentally unjust in my view.

So you want shareholders to be held liable for the acts of the corporation? really? What do you think that would do to the DOW?

 

[hangover]

Corporations made a record $824 billion in profits last year as well, while the stock market has had one of its best performances since 1900 while Obama has been in office.

Meanwhile, workers are getting the short end of the stick. As CNN Money explained, “a separate government reading shows that total wages have now fallen to a record low of 43.5% of GDP. Until 1975, wages almost always accounted for at least half of GDP, and had been as high as 49% as recently as early 2001.”
Corporate Profits Hit Record High While Worker Wages Hit Record Low | ThinkProgress

So if all corporate profits were taxed at 100% it wouldn't even pay the interest on the national debt. So the national debt would still never go down. Corporate business has created a Ponzi scheme that has already destroyed America.

 

[American4Americ]

this shall be paid for eliminating useless leftist government programs.

The good things from this?

Many many jobs will be created in america, since companies will return to their homeland.

many corporations pay 0%. They are sitting on historic levels of cash.

Problem is, they lack customers. The middle class is currently digging itself out from 30 years of debt-based consumption. -and 30 years of losing jobs to communist china so that our suppliers could realize the benefits of ultra-cheap labor.

Lower taxes and deregulation made sense in the 80s , but now supply side policies have been over cooked ... And we need to bring back the demand centered policies of the postwar years.

Obama, mostly because of the sequester, has cut more government jobs than reagan or bush. In fact, reagan added more jobs to the federal payroll than any modern president, especially defense jobs (in places like southern california). Reagan refused to cut jobs during his recession because he understood that people with american jobs spend money on main street, thus allowing small business to stay afloat.

Limbaugh, hannity, coulter, savage, levine, oreilly, and fox have one answer: Cut taxes on the wealthy. But the best employment happened under, lbj, truman, eisenhower and nixon (when taxes were above 70% on the top bracket).

Son, here is what you don't understand. Until recently, the state has always played both sides of the economic divide. It subsidized and bailed out suppliers, while boosting the solvency and purchasing power of consumers through a myriad of fiscal tools and government programs. But make no mistake: We had great results when we effectively taxed the surplus capital on top so that it could be used for something other than lobbying and election funding, which is where corporate money currently goes in order to perpetuate our no-bid rat's nest of dysfunctional monopolies.

Our postwar government understood that if middle class consumers had more spending money, capital would go after that money. Nothing spurs job growth more than a fat middle class wallet.

Unfortunately, reagan - who was a closet keynesian - convinced us to remove all the supports and programs for the non-wealthy. He got us to double down on suppliers through tax, regulatory, labor and trade policy. And he converted the fed from an agency that concerned itself with full employment to one that fought inflation. He said that all these measures would incentivize capital investment and grow jobs. So we got rid of 70% of what the government did to boost middle class purchasing power in order to make room for tax cuts and reduce the labor costs of our suppliers. Then we watched jobs slowly trickle to asia because nike investors simply make more money when their sneaks area made by workers who get paid $5/day and live beneath brutal freedom hating dictators.

As americans lost good jobs and as their subsidized education, health care and transportation was removed, they had less and less money for consumption. So we quietly expanded credit and have spent the last 30 years fueling domestic consumption with debt. By the bush years too many americans were spending more than they made. Now our middle class is digging out from unprecedented levels of debt. They can no borrow enough to fuel job growth. Lowering the taxes of suppliers who are sitting on historic levels of cash will not enable the consumption of those too indebted to consume.

We are facing the largest demand crisis in over 1/2 a century. To apply more supply side policies would only make the problem worse. Just like we smartly reformed keynesian policies in the 80s, we now need to dismantle the republican special interests which are preventing us from finally reforming the supply side policies which have greatly outlived their utility.

you are a liar

 

[American4Americ]

This shall be paid for eliminating useless leftist government programs.

The good things from this?

Many MANY Jobs will be created in America, since companies will return to their homeland.

Corporate taxes and all income taxes should be one low flat rate for everyone. Period.

I'd personally prefer a poll tax (Same tax per person).

 

[bendog]

You guys in favor of not lowering the tax miss the point. Certainly, if the tax cut were not made at least revenue neutral, then it would be nothing more than the usual bs trickle down and add to the deficit. But, lowering the rate would also tend to lower consumer prices. If the lost revenue could be replaced by a tax on capital, but not on PRODUCTION, then there'd be a net positive.

 

[WinterBorn]

This shall be paid for eliminating useless leftist government programs.

The good things from this?

Many MANY Jobs will be created in America, since companies will return to their homeland.

Corporate taxes and all income taxes should be one low flat rate for everyone. Period.

I'd personally prefer a poll tax (Same tax per person).

I prefer a consumption tax for several reasons.

First, it taxes everyone. Those with illegal or cash incomes still spend money, so they will pay taxes too.

Second, it removes the IRS and it's interest in your personal life & income. What you actually make is your own business. You pay taxes when you spend it. That gives each individual more freedom and control over what they pay in taxes.

Third, it provides an automatic safety net for every citizen.

Fourth, the rate is set and the same for every person. There is no way for politicians to aim higher taxes at their enemies or provide lower taxes for their friends.

 

[bendog]

Corporate taxes and all income taxes should be one low flat rate for everyone. Period.

I'd personally prefer a poll tax (Same tax per person).

I prefer a consumption tax for several reasons.

First, it taxes everyone. Those with illegal or cash incomes still spend money, so they will pay taxes too.

Second, it removes the IRS and it's interest in your personal life & income. What you actually make is your own business. You pay taxes when you spend it. That gives each individual more freedom and control over what they pay in taxes.

Third, it provides an automatic safety net for every citizen.

Fourth, the rate is set and the same for every person. There is no way for politicians to aim higher taxes at their enemies or provide lower taxes for their friends.

Safety net. So you're setting a base of untaxed consumption?

 

[HelenaHandbag]

Should we make the corporate tax rate 0%?

The corporate tax rate is why we have a $17 trillion national debt.

Fiddlesticks. The debt is a product of excessive spending. Period.

Those that have almost everything pay nothing.

Nonsense. Over 85% of income taxes are paid by the top 25% of earners.

Comcast just bought Time Warner cable for $45 billion, to get rid of the competition, so they could charge raise everyone's rates. The future is monopolies, not free market. Soon it will be called the CORPORATE STATES OF AMERICA, where 98% of the people are slaves to pay the national debt.

What have progressives done to stop this? I mean besides nothing.

 

[WinterBorn]

I'd personally prefer a poll tax (Same tax per person).

I prefer a consumption tax for several reasons.

First, it taxes everyone. Those with illegal or cash incomes still spend money, so they will pay taxes too.

Second, it removes the IRS and it's interest in your personal life & income. What you actually make is your own business. You pay taxes when you spend it. That gives each individual more freedom and control over what they pay in taxes.

Third, it provides an automatic safety net for every citizen.

Fourth, the rate is set and the same for every person. There is no way for politicians to aim higher taxes at their enemies or provide lower taxes for their friends.

Safety net. So you're setting a base of untaxed consumption?

No one pays taxes on the amount equal to the poverty level. I won't. A poor person won't. And Warren Buffet won't. The difference is that the prebate check that every person receives can keep some alive.

 

[KevinWestern]

This shall be paid for eliminating useless leftist government programs.

The good things from this?

Many MANY Jobs will be created in America, since companies will return to their homeland.

Interesting proposition that actually doesn't sound all that bad.

One angle is that currently the Government gives huge tax breaks and subsidies to buddy companies, so perhaps if we level everything out to a simple 0% we can start to not only attract new business, but also set the stage for just a little bit of "Free Market" to peek its head out.

I know a 20 something baker here in Chicago interested in starting a business, but between the taxes, regulations, and $25,000 in licensing fees this currently remains just a dream. All designed to keep the little guys out of the game.

 

[dblack]

So you want the employees to be personally liable for the acts of the corporation?

Employees should only be responsible for their own actions. I'm referring the limited liability of investors. If the owner of a non-incorporated company hires a manager with the blanket instructions to "do whatever it takes" to earn a profit, that owner will be, at least to some degree, liable for the actions of that manager. But if shareholders of and LLC elect a CEO, with essentially the same instructions, they get a pass.

I'm not sure exactly where the line should be drawn, but I think it needs to be reconsidered. As it is, the status quo of the corporate charter creates companies that enjoy special rights not afforded to non-incorporated companies. That's fundamentally unjust in my view.

So you want shareholders to be held liable for the acts of the corporation? really?

To a greater degree than they are currently, yes.

What do you think that would do to the DOW?

It would be a significant blow. I also believe we should end the practice of using our military to promote the interests of our corporations globally - which would also put a damper on the market.

 

[Toro]

Reduce it to 15%. Eliminate many deductions.

 

[HelenaHandbag]

We should push thru the Fair Tax Act. If we were to fund the federal gov't strictly by a consumption tax, our economy would recover and bloom into the most robust in the world.

No way.

That scheme still funds the federal pig at its current rate, with all of its foolish and unconstitutional welfare programs, both corporate and individual, in place.

We don't have the wrong tax structure fleecing the people, we have way to damn much government.

 

[Dont Taz Me Bro]

We see who the conservatives are in the pocket of...

This would be bull shit...

Because increasing employment is a bad thing? Well, I suppose it is if you're relying on government dependency to win elections.

 

[Dont Taz Me Bro]

The corporate tax rate is why we have a $17 trillion national debt.

False. Spending more than we take in is why we have a $17 trillion national debt.

The future is monopolies, not free market

Monopolies are illegal under anti-trust laws

 

[hangover]

Should we make the corporate tax rate 0%?

The corporate tax rate is why we have a $17 trillion national debt.

Fiddlesticks. The debt is a product of excessive spending. Period.

Those that have almost everything pay nothing.

Nonsense. Over 85% of income taxes are paid by the top 25% of earners.

Comcast just bought Time Warner cable for $45 billion, to get rid of the competition, so they could charge raise everyone's rates. The future is monopolies, not free market. Soon it will be called the CORPORATE STATES OF AMERICA, where 98% of the people are slaves to pay the national debt.

What have progressives done to stop this? I mean besides nothing.

You are not paying attention. The national debt didn't start exploding until Raygun lowered tax rates for corporations and the rich. But yes he also tripled the national debt with military spending. Shrub Jr. added $3 trillion with more tax cuts for the rich. Then added another $3 trillion with more military spending for the Iraq/Afghan wars. He also destroyed the economy with Ponzi schemes in real estate and Wall Street banks, which Obama has been spending to recover from. Shrub Jr. left Obama with a $1.2 trillion annual deficit. Over the past five years Obama has brought the U.S. back from a recession caused the the cons, that would have rivaled the GREAT DEPRESSION caused by the cons again, and cut the deficit in half.

Obama has also ended the Iraq war, killed the perp of 9/11 and provided healthcare to 4 million, soon to be 6 million Americans. The cons attempt to smear the office of the president only proves they are anti-American. They also try to get the people of this country to hate their government. Destroying peoples confidence in their country only destroys the country. The republicans are Al Qaeda's best friend.

 

[WinterBorn]

We should push thru the Fair Tax Act. If we were to fund the federal gov't strictly by a consumption tax, our economy would recover and bloom into the most robust in the world.

No way.

That scheme still funds the federal pig at its current rate, with all of its foolish and unconstitutional welfare programs, both corporate and individual, in place.

We don't have the wrong tax structure fleecing the people, we have way to damn much government.

We spend billions trying to minimize our taxes, figure out our taxes, cover our ass paying taxes, and trying to navigate the insane system we have in place.

To claim we don't have the wrong tax structure is ridiculous. Look up what we spend on tax compliance. Not what we pay in taxes, but what we spend to pay our taxes.

 

[hangover]

The corporate tax rate is why we have a $17 trillion national debt.

False. Spending more than we take in is why we have a $17 trillion national debt.
Duh dude. Not taxing the corporations and the rich means they're not taking in as much as they spend.

The future is monopolies, not free market

Monopolies are illegal under anti-trust laws

Get real dude. Big oil is a monopoly. There are numerous companies, but they're all in cahoots with each other. And they torpedo all efforts to create alternative energies. The airlines are the same way. Insurance companies, pharmaceutical companies and military contractors all do it too. It's called price fixing, a monopoly by any other name.