Is it time to lower the Corporate Tax Rate?

Discussion in 'Free Speech Alley' started by LaSalleAve, Mar 29, 2011.

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  1. LaSalleAve

    LaSalleAve when in doubt, mumble

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    discuss please. Reason I ask is because alot of corporations who could be paying taxes in this country are not because they are now claiming they are not "American" corporations. It is currently at 35% which I think is the highest in the world.
     
    LaSalleAve, Mar 29, 2011
    #1
  2. Rex_B

    Rex_B Geaux Time

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    Sure. I'm for lowering any and all taxes.
     
    Rex_B, Mar 29, 2011
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  3. martin

    martin Banned Forever

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    agree with rex. the sentence "should we lower taxes on x" is always true.
     
    martin, Mar 29, 2011
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  4. tirk

    tirk im the lyrical jessie james

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    of course.
     
    tirk, Mar 29, 2011
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  5. Swerved

    Swerved It appears my hypocrisy knows no bounds.

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    Absolutely. I touched on this in another thread. Perhaps if we gave them a reason to be "American Corporations" again, then they wouldn't be so quick to set up shop in some other country with a much lesser tax rate.

    Then all the goldsmiths, piano teachers, caviar producers, etc.. would have work again because they could furnish all of those fat evil corporate bazillionares with the finer things in life they have a taste for. :D
     
    Swerved, Mar 29, 2011
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  6. red55

    red55 curmudgeon Staff Member

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    If we cut the corporate tax rate, then we must cut the loopholes, tax credits, offshore tax havens, and incentives that allow them to lower their taxes to far less than 35%.

    According to the The New York Times, General Electric, America's largest corporation, paid no taxes at all in 2010 despite global pre-tax income of more than $14 billion. A full $5.1 billion of that was earned in the United States. This is the second year in a row they've managed to completely avoid taxes. But get this, not only did GE pay absolutely no taxes in 2010 or 2009, but they actually pocketed more than $3 billion in government tax credits.

    You Paid More in Taxes than America's Largest Corporation

    Or, take a look at Exxon/Mobile who in 2009 posted the highest corporate profits ever recorded ($47 Billion) paid the most taxes of any corporation, but none of it went to the IRS:


    Why does the very profitable Exxon get $9 Billion in tax subsidies from the US? The very profitable US Oil Industry gets $37 Billion in tax credits that they don't earn and don't need.

    And the GOP wants to balance the budget by taking the whole $10 million from National Public Radio.
     
    red55, Mar 29, 2011
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  7. Rwilliams

    Rwilliams Veteran Member

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    I still think it should be none of the goverments damn business how much any American citizen makes. We should have a sales tax on all goods and services except
    1) medical expenses by private citizens
    2) food
    3) utilities

    people would pay no taxes on the necessities. No tax on food, electricity , nat gas, medicine , doctor and hospital visits and medicine prescription or not.
    This makes all things the poor need tax free. We all need them but the reason will be that the poor couldn't pay the taxes. Right now half the people in this country don't pay taxes. This will never happen because the tax giveaways to both voters and business is how votes are bought. The tax system is a major cause for corruption in politics.
     
    Rwilliams, Mar 29, 2011
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  8. red55

    red55 curmudgeon Staff Member

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    This would bankrupt the country in short order, of course.
     
    red55, Mar 29, 2011
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  9. mobius481

    mobius481 Registered Member

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    pffft....details, details.
     
    mobius481, Mar 29, 2011
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  10. MLUTiger

    MLUTiger Secular Humanist

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    This. If they want to be in this country and enjoy the benefits, they should accept their share of the burdens.
     
    MLUTiger, Mar 29, 2011
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