georgephillip
Diamond Member
Tax rates are convoluted to such an extent the US effective corporate tax rate varies between ~13% - 27%, depending on your source:Why would you think the 1% care about which corporate whore serves them?McConnell saw no need to do anything that would encourage anyone to vote for an Obama second term. Now McConnell has finally gotten his wish to be Senate majority leader
Will Obama return the favor?
"WASHINGTON -- Sen. Mitch McConnell (R-Ky.) said Wednesday that he and President Barack Obama are already discussing plans to cut corporate tax rates and pass free trade agreements, following the GOP's major gains in Tuesday's elections..."
TPP???
"'Trade pacts,' McConnell said at a press conference Wednesday. 'The president and I were just talking about that, right before I came over here. Most of his party is unenthusiastic about international trade. We think it's good for America, and so I've got a lot of members who believe that international trade agreements are a winner for America.'"
Big winners for 1% of America...
McConnell And Obama Are Already Planning To Undercut Liberal Democrats In Congress
Hang on to your hats, kids. If corporate tax rates are cut, be assured you will pay higher taxes somewhere to make up for it.
"The most recent estimate comes from the World Bank and International Finance Commision, which put the United States’ effective rate for 2014 at 27.9 percent. That’s second-highest behind New Zealand among OECD countries and 15th-highest among the 189 countries measured.
"In 2011, the Tax Foundation published a survey of 13 prior estimates of the United States’ effective tax rate from 2005 to 2011.
"All 13 studies pegged the U.S.’s rate as above average, but none had the U.S. rate first overall.
Another 2011 study by the Congressional Research Service put the U.S. effective rate at 27.1 percent, slightly lower than the OECD average of 27.7 percent."
Mitch and Barry are probably looking for ways to sell a 0% corporate tax rate as a "job creator", and many cons and bots will goose-step accordingly.
Does the U.S. have the highest corporate tax rate in the free world PunditFact