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06-27-2012, 05:10 PM
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#1
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Valued Poster
Join Date: Jan 5, 2010
Location: Houston, TX
Posts: 3,860
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The Truth about Corporate Tax Rate
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06-27-2012, 05:13 PM
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#2
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Valued Poster
Join Date: Jan 5, 2010
Location: Houston, TX
Posts: 3,860
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I know it only has 2009 but it's been a slow day.
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06-27-2012, 05:20 PM
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#3
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Valued Poster
Join Date: May 20, 2010
Location: Wichita
Posts: 28,730
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Uh, Louie. I hate to tell you this. But those charts don't compare corporate tax rates. Sorry. You might want to delete your post, because you are really looking stupid this time. Just a word of advice from a friend.
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06-27-2012, 05:22 PM
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#4
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Lifetime Premium Access
Join Date: Jan 1, 2010
Location: houston
Posts: 48,267
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What these lying bastards on the right fail to mention is all the tax breaks that bring down our rate.
Do we need to lower them and cut out all the write offs?
Yes of course but that is where all those contributions kick in!
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06-27-2012, 05:25 PM
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#5
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Valued Poster
Join Date: Feb 9, 2010
Location: Here
Posts: 14,191
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regardless ... the tax rate quoted as the Second Highest in the world is BEFORE loopholes are used to circumvent the set rates.
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06-27-2012, 05:29 PM
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#6
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Valued Poster
Join Date: May 20, 2010
Location: Wichita
Posts: 28,730
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And what loopholes might those be, CBJ7?
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06-27-2012, 05:34 PM
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#7
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Valued Poster
Join Date: Feb 9, 2010
Location: Here
Posts: 14,191
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Quote:
Originally Posted by CuteOldGuy
And what loopholes might those be, CBJ7?
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corporate tax loopholes
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06-27-2012, 05:44 PM
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#8
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Valued Poster
Join Date: Feb 9, 2010
Location: Here
Posts: 14,191
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when you make $15 billion a year you can hire the best tax lawyers on the planet, and those lawyers via means of loopholes or deductions so to speak, WILL reduce your corporate tax payments to the point of next to nothing ..
http://finance.yahoo.com/blogs/daily...73651-206.html
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06-27-2012, 05:48 PM
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#9
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Lifetime Premium Access
Join Date: Jan 1, 2010
Location: houston
Posts: 48,267
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Quote:
Originally Posted by CJ7
corporate tax loopholes
![Clapping](https://cdn-w.eccie.net/images/smilies/modern/clapping.gif)
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I'm reminded of Stripes with Bill Murrey.
What kind of training son?
Arrrrrrrrrrrrrrrrrmy Traaaaaaaaaaaaaaaning Sir!
http://www.dailymotion.com/video/x5q...ill-murray_fun
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06-27-2012, 05:51 PM
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#10
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Valued Poster
Join Date: Feb 9, 2010
Location: Here
Posts: 14,191
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Quote:
Originally Posted by WTF
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now that you mention it
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06-27-2012, 05:58 PM
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#11
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Valued Poster
Join Date: Dec 31, 2009
Location: Dallas
Posts: 278
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The US does have very high corporate tax rates compared to other industrialized nations. However, in the US, we allow for non-cash deductions like depreciation, depletion. We also give investment tax credits for companies purchasing equipment and machinery. My company does business in the EU and we don't get those non-cash deductions and credits there so we pay a higher effective rate. Having said, that, with the lower rates, over the long term, we end up being better off. A more common sense version would be to eliminate all corporate taxes and have all income pass through to the individual. After all corporations are only pieces of legal paper. This would eliminate a lot of agency problems and also eliminate the need for crappy legislation like Dodd-Frank. It would make financial statements more transparent and wipe out a section of lawyers and accountants who, in theory, could then do something more productive.
So, yes, the US does have very high rates but the effective rates are lowered by non-cash deductions. Simple, huh?
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06-27-2012, 06:01 PM
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#12
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Valued Poster
Join Date: Mar 10, 2010
Location: Houston
Posts: 5,740
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We have the highest corporate tax rate, not the second highest. Japan used to be higher, but then they lowered it.
From Rueters:
U.S. Corporate Tax Rate To Be Highest In The Developed World
U.S. Corporate Tax Rate To Be Highest In The Developed World
WASHINGTON, March 30 (Reuters) - The United States will hold the dubious distinction starting on Sunday of having the developed world's highest corporate tax rate after Japan's drops to 38.01 percent, setting the stage for much political posturing but probably little tax reform.
Japan and the United States have been tied for the top combined, statutory corporate rate, with levies of 39.5 percent and 39.2 percent, respectively. These rates include central government, regional and local taxes.
http://www.huffingtonpost.com/2012/0...n_1392310.html
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06-27-2012, 06:11 PM
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#13
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Valued Poster
Join Date: Feb 9, 2010
Location: Here
Posts: 14,191
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Quote:
Originally Posted by joe bloe
We have the highest corporate tax rate, not the second highest. Japan used to be higher, but then they lowered it.
From Rueters:
U.S. Corporate Tax Rate To Be Highest In The Developed World
U.S. Corporate Tax Rate To Be Highest In The Developed World
WASHINGTON, March 30 (Reuters) - The United States will hold the dubious distinction starting on Sunday of having the developed world's highest corporate tax rate after Japan's drops to 38.01 percent, setting the stage for much political posturing but probably little tax reform.
Japan and the United States have been tied for the top combined, statutory corporate rate, with levies of 39.5 percent and 39.2 percent, respectively. These rates include central government, regional and local taxes.
http://www.huffingtonpost.com/2012/0...n_1392310.html
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big deal ...
if we lower it to 20% corproations like GE will still hire top shelf lawyers to whittle that 20% down to 2%
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06-27-2012, 06:19 PM
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#14
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Lifetime Premium Access
Join Date: Jan 1, 2010
Location: houston
Posts: 48,267
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Quote:
Originally Posted by joe bloe
We have the highest corporate tax rate, not the second highest. Japan used to be higher, but then they lowered it.
From Rueters:
U.S. Corporate Tax Rate To Be Highest In The Developed World
U.S. Corporate Tax Rate To Be Highest In The Developed World
WASHINGTON, March 30 (Reuters) - The United States will hold the dubious distinction starting on Sunday of having the developed world's highest corporate tax rate after Japan's drops to 38.01 percent, setting the stage for much political posturing but probably little tax reform.
Japan and the United States have been tied for the top combined, statutory corporate rate, with levies of 39.5 percent and 39.2 percent, respectively. These rates include central government, regional and local taxes.
http://www.huffingtonpost.com/2012/0...n_1392310.html
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Do you understand WTF a loophole is.
Do you understand WTF the 'effective',rate is?
Who gives a shit what the stated rate is. What is the effective rate? The one's where you count all the loopholes!
God Damn, quit spouting off that Tea Party crap, you sound retarded.
Let me put this in Simpleton terms.
A Hooker charges 500 dollars an hour on her web-site but her customers in the know pay allot less.
Did that clear it up for you?
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06-27-2012, 06:36 PM
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#15
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Account Disabled
Join Date: Jun 19, 2011
Location: Dixie Land
Posts: 22,098
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I know I am way in over my head. But, most of the loop holes are for the top 100 major American corporations. The real employers are small companies. They employ 90 percent of the people that still work. We all know that's only 50% of us. THESE SMALL EMPLOYERS are SCARED to DEATH of YOU LIBERAL TAXING TYPES. If this country is to get out of this mess y'all better get your heads screwed on. Let BUISNESS do what it does and make some FUCKING MONEY. FUCK your links...
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