The United States has the highest corporate tax rate in the world.

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  #1  
Old 01-25-2015, 09:16 AM
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Default The United States has the highest corporate tax rate in the world.

I hear people maligning many U.S. corporations for seeking tax shelter in other countries but at 39% for their income tax compared to about 25% in other countries, how can they remain competitive?

The U.S. Has the Highest Corporate Income Tax Rate in the OECD | Tax Foundation

and to be fair, this is what Wikipedia says about the Tax Foundation.
http://en.wikipedia.org/wiki/Tax_Foundation
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Old 01-25-2015, 09:45 AM
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Remove the tax breaks and enforce anti trust laws. Then you really have a free market. "One nation.... Under corporation, with liberty and justice to those that can afford it!"
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Old 01-25-2015, 09:47 AM
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In the final analysis there is only one class of persons who pay taxes-- the ultimate consumer. That includes gasoline taxes corporate income taxes, on and on.

One way or another all taxes are added into the price .

I wonder why that is such a difficult concept for most people to understand.
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Old 01-25-2015, 09:53 AM
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Quote:
Originally Posted by Challenger View Post
In the final analysis there is only one class of persons who pay taxes-- the ultimate consumer. That includes gasoline taxes corporate income taxes, on and on.

One way or another all taxes are added into the price .

I wonder why that is such a difficult concept for most people to understand.
Exactly...Corporation don't pay taxes; consumers do....period
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Old 01-25-2015, 09:59 AM
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Pity the poor corporations. How can they remain competitive,really?

U.S. Corporate Profits Up Year-Over-Year for 12th Straight Quarter - Real Time Economics - WSJ
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Old 01-25-2015, 09:59 AM
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Exactly...Corporation don't pay taxes; consumers do....period
Amen!!! So true.

Another reason some corporations do business overseas, to reap more profits.

I never seen a CEO standing in the bread line.
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Old 01-25-2015, 10:02 AM
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Not to worry. Tax breaks lower it WAY below 39%. Much closer to 12%.

http://www.wsj.com/articles/SB100014...99492233215330
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Old 01-25-2015, 10:09 AM
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No need to "pity" the corporations, that emotion should be reserved for the consumer who is paying the bill.

This is a case of "cut off nose to spite face" High corporate taxes make American companies less competitive and therefore encourage cheaper imports. Balnce of trade problems, balance of payments problems etc.
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Old 01-25-2015, 10:18 AM
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Since over half of US households pay NO income taxes the government has to get it somewhere. The problem is onerous corporate taxes are strangling the geese that lay the golden eggs. However it appears the geese are wising up and flying away to headquarter elsewhere. Who can blame them?

On an individual scale many people who reside in high tax states, especially retirees who can relocate, are moving to lower tax states such as Florida and Texas.
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Old 01-25-2015, 10:21 AM
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Its all about free enterprise. If you have the right lobbyist, you can have the right tax laws so that your effective tax rate is zero and another company has to pay the full rate. How many first term lawmakers are writing tax law legislation? That gives you a competitive advantage and a bigger bonus at the end of the year. Callous but true.
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Old 01-25-2015, 10:22 AM
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Drop the corporate tax rate to 10% and watch the millions and millions of jobs return to the US as corporations return. And than watch the exports grow exponentially. Such a simple jobs solution but no one wants to champion it.
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Old 01-25-2015, 10:24 AM
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How many believe that if corporate taxes went to zero, that prices would go down to reflect that?
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Old 01-25-2015, 10:25 AM
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Originally Posted by l2ridehd View Post
Drop the corporate tax rate to 10% and watch the millions and millions of jobs return to the US as corporations return. And than watch the exports grow exponentially. Such a simple jobs solution but no one wants to champion it.
30 years ago, I would have agreed with you. Today, not so much.
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Old 01-25-2015, 10:30 AM
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Ending the corporate tax would end corporate tax breaks!!

Then there is the issue of government subsidies.

"Unintended Consequences" Hmmmmmmmmmm
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Old 01-25-2015, 11:40 AM
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how manyof us would keep our money in a foreign country that had no more risk to loss than here at home but with a return of double or more.....and no taxes on the earnings?

There would be some corporate expatriation of dollars that would come back to the USA if there were a competitive tax advantage. Some of those dollars would/could be invested in facilities and capabilities in the USA to be more competitive. End result no financial disadvantage for the corporate bottom line and the potential for increased employment here at home.

Today the incentive is for corporations to keep foreign earnings offshore.
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