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by blackwater 09/24/2017, 4:18am PDT |
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Taxing corporate income is stupid for so many different reasons.
Firstly, and most importantly, the money paid out to employees, vendors, etc. is already taxed. So even if everything works correctly, it's double taxation.
Secondly, it doesn't work correctly. Multinational corporations also almost completely avoid corporate taxation by exploiting loopholes and special arrangements. Corporate taxes are basically a tax on small legal businesses. If you want to learn more, Google "double irish sandwich."
Thirdly, most of the rest of the world has much lower corporate taxes than we do. For example, Ireland is around 11%, whereas we are around 40%. So for the corporations that can't find enough loopholes, it's basically a huge neon sign that says "PLEASE LEAVE THE US." If you want to learn more about this, Google "tax inversions."
By the way. Let's be clear here. Trump made a lot of really stupid tax proposals, like cutting income taxes on the super-rich. But cutting corporate taxes is actually a really good idea. Unfortunately this is the kind of policy detail that 99% of voters will never understand. If you read this far and understood, congrats. |
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Anyone here believe a corp. tax cut will give "American workers [a] pay raise"? NT by C++ Guevara 08/30/2017, 1:23pm PDT 
Top down interest makes that very difficult by Mysterio, "Devil's Advocate?" 08/30/2017, 2:23pm PDT
Re: Top down interest makes that very difficult by C++ Guevara 09/01/2017, 1:58pm PDT
Paul Rand, Reagan's ghost, Trump by idiots, basically 08/30/2017, 2:36pm PDT
Every business owner would just see it as what they rightfully deserved. by Mysterio 09/01/2017, 3:44pm PDT
Too high compared to who? NT by Greece? Somalia? 09/23/2017, 11:50pm PDT
Comparison by Greece? Somalia? 09/23/2017, 11:55pm PDT
(LOL @ Regan's final year and "fuck you" to this country's long term viability) by Greece? Somalia? 09/24/2017, 12:02am PDT
The US should cut its corporate tax rate. by blackwater 09/24/2017, 4:18am PDT
Who the hell starts a small business as a C-Corporation these days? by Mischief Maker 09/24/2017, 6:22am PDT
Basics! by John M.F. Keynes 09/24/2017, 10:06am PDT
Re: Basics! by C++ Guevara 09/25/2017, 10:53am PDT
What is considered R&D for tax purposes has little relation to reality by blackwater 09/25/2017, 2:33pm PDT
Sorry, meant to write NIH. by blackwater 09/25/2017, 2:35pm PDT
I'm okay with corporate taxes going down as long as mine go down too. by Judge Barry 09/24/2017, 10:38am PDT
This is a terrible economic policy based on nothing NT by indistinguishable from TDarcos 09/24/2017, 5:55pm PDT
"Only corporate taxes should go down" great work dummy by Judge Barry 09/24/2017, 8:00pm PDT
Sorry I fucked up the exaggeration by indistinguishable from TDarcos 10/19/2017, 6:54am PDT
Double taxation by C++ Guevara 09/25/2017, 10:47am PDT
Re: Double taxation by blackwater 09/25/2017, 2:27pm PDT
Re: Double taxation by C++ Guevara 09/26/2017, 10:49am PDT
Re: Double taxation by blackwater 10/15/2017, 11:00pm PDT
That guy destroyed you. Why go back for more? NT by this is what libertarians actuallyb 10/19/2017, 7:02am PDT
Re: Double taxation by C++ Guevara 10/24/2017, 10:56pm PDT
Re: Double taxation by blackwater 10/25/2017, 6:20pm PDT
One point of clarification and I will shut up. by Ice Cream Jonsey 10/25/2017, 8:07pm PDT
Re: Double taxation by C++ Guevara 10/26/2017, 12:29am PDT
Hahaha, good one! You're killing him, C++!!! by this is what libertarians actuallyb 10/26/2017, 9:55am PDT
This wasn't me. by this is what libertarians actuallyb 10/26/2017, 10:25pm PDT
I was on your side until you thought I was so stupid you had to point this out. by John M.F. Keynes 10/26/2017, 11:31pm PDT
Are you sure it wasn't you? by It sure sounded like you 10/27/2017, 7:07am PDT
Re: Double taxation by blackwater 10/26/2017, 4:02pm PDT
C++ is wrecking you here. Take a time out. by this is what libertarians actuallyb 10/26/2017, 4:14am PDT
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