Hey Kids!
Want some fun excitement and craziness in your day!?
Want to be the cool guy on the block that impresses all the girls???
Want to be able to be the one kid in the entire college that might actually know what he or she is talking about?
Then learn your corporate tax rates!
Yes, corporate tax rates!
It's what all the cool young hipsters are learning!
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On a more serious note, sadly corporate taxes are the silver bullet to end this recession. You eliminate them you not only bring a flood of investment and capital into the US, but you also immediately boost stock prices and recapitalize people's pensions, 403b's, 401k's, IRA's.
But who wants any of that icky stuff when we can blame corporations for all of our problems?
Too many people foolishly believe that corporate taxes have no economic impact on shareholders for your proposal to fly.
ReplyDeleteThis is a very inconvenient truth, especially with the recent announcements by major corporations of how much the tax law changes because of Obamacare.
ReplyDeleteAnd the Dumbocrats are now looking at a VAT besides the incomes taxes paid now.
@ Payner44
ReplyDeleteNot sure how many senate seats are up for grabs, but get them out of there also.
Maybe the same as every election year, 33/34?
You've forgotten the best part, thousands highly compensated tax accountants and tax lawyers get to do productive work!
ReplyDeleteGetting a progressive to understand corporate tax rates is a futile task.
ReplyDeleteFor some reason, they believe the corporation will just take the increase in taxes out of the CEO's salary. (Which he obviously does NOT deserve because it is his direction that the company NOT give their goods and services away for free.)
Reducing cooperate tax would however reduce the credibility of the US in terms of servicing its debts.
ReplyDeleteIt would be very interesting to graph the delta in those taxes with delta in national gdp accross those countries for that period and see if there was any notable change from the average OECD growth rate...
Cutting taxes to stimulate the economy seems like a good idea but as I see it investment is better gained with company specific bribes such as contracts, land rights, specific tax reductions that give that company a competative advantage.
It would be very nice if we lived in an international free market, but while there are countries willing to do these things, we have to as well, and that means extracting money from companies and individuals who for what ever reason need to keep thier buisness here rather than in a low tax country, and using it to bribe new companies to do the same...
When I attempt to open your spreadsheet, I get nothing. Nada.
ReplyDeleteJust thought you'd like to know.
The high US corporate rates are passed along to individual ratepayers in the prices of products and services and are as a result a pass through of the tax to individuals anyway. The high rates odf tax drive the investment dollars of our own firms overseas, where they are stranded or reinvested in foreigh manufacturing and a resultant loss of US manufacturing jobs. Or, the higher tax rates result in productsmade in the US being uncompetitive with those made in the countries with lower tax rates. This drives US businesses out of business or overseas, both resulting in less US jobs.
ReplyDelete