SO I came across this article from 2007 about the Bush Tax cuts and found an interesting line.... Guess Who Really Pays the Taxes — The American Magazine "For example, the United States now has the second-highest corporate income tax in the developed world, after Japan." I thought, surely this can't be true, surely i can't.... US Corporate Tax Rates vs. All OECD Countries | ChrisBanescu.com ^^From 2008 Archived-Articles: US Companies Pay the Highest Taxes in the World ^^ From 2009 [FONT=times new roman,times]"2010 Corporate Tax Rate: US = 46.2%, China = 25%"[/FONT] Now before you Lib's go and blow your load, I know there is a difference in statutory and real taxes paid.... I also know that most all of the US based companies find HUGE tax deductions/Loop Holes However, if you cut the loop holes, they must lower the tax rate..... What do ya'll think about this? Flat tax all around?
Wouldn't a flat tax essentially be a raise in taxes on the rich? Isn't that what the GOP is fighting so vigorously for? These poor billionaires who just can't seem to feed their families....
Nice exaggeration again. You are on fire.. You are missing the point. The amount of deductions these people can claim is the reason people like you believe they should have their taxes raised when all is needed is a drop in the tax rate and limit the deductions. Yes, they would then be paying more that what they do now. They could easily get more revenue from a 20% flat tax and zero deductions...
And as importantly, we could slash the need for most of the IRS. Of course, we would probably put a lot of accountants out of business but when government is the driving force behind jobs, it's a problem.
That was my point. A flat tax would essentially mean that rich people would pay more taxes. I thought that was a no no?
No one said its a no no. It is more to do with raising a percentage that just gets negated by deductions...
They've already gone. Their money is in Switzerland and much of their investments. Certainly the CEO's have moved their factories and any new jobs overseas. Nothing will trickle down to you.
They've already gone. Their money is in Switzerland and much of their investments are overseas. Certainly the CEO's have moved their factories and any new jobs overseas. Nothing will trickle down to you.
