Quote:
Originally Posted by kevmo
Layering regulations on top of a complex tax code loaded with exemptions and loopholes is a serious concern. Although Corporate tax rates top out at 40%, the average tax paid by Corporations is 12.6% and 1 in 4 pay no taxes. Tax revenue from Corporations today is around 10% of the total, where 50 years ago it accounted for 33% of the total. It is a similar story on the personal side where a recent Presidential candidate paid 13% taxes on $24M income, although the top rate is 39%.
What is needed is a simplified tax code without loopholes and with lower tax rates. If only we had politicians who wanted to fix America's woes and not just focus on getting re-elected.
|
Setting aside the political comment(s), which I wish people would stop inserting in snotty "hit-and-run" fashion, this is a very interesting conversation. I am not against big corporations at all, but do believe they need some level of regulation. I know very little about the taxes they pay.
kevmo, can you provide proof of your information, a link or something? Or can someone else provide proof that the opposite is true?