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Old 07-31-2013, 08:14 AM  
loochy loochy is offline
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For you anti-corporate Obama lovers...

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http://www.weeklystandard.com/blogs/...ss_742312.html

Obama: Top Tax Rate Should Be 28% for Corporations, 40% for Small Business
John McCormack
July 30, 2013 2:37 PM

The New York Times reports that President Obama is reviving an old proposal to lower the corporate tax rate from 35 percent to 28 percent (and 25 percent for manufacturers). Obama's push to lower the corporate tax rate to 28 percent comes less than a year after he raised the top individual income tax rate, paid by many small businesses, to 39.6 percent.

In a speech delivered Tuesday afternoon, Obama did not explain why he thinks it's a sound economic idea to raise the top marginal tax rate on small businesses but lower it for corporations.

"Right now, our tax code is so riddled with wasteful loopholes that many companies doing the right thing and investing in America pay 35%, while the corporations with the best accountants stash their money abroad and pay little or nothing at all," Obama said, according to the text of his prepared remarks. "Iím willing to simplify our tax code in a way that closes those loopholes, ends incentives to ship jobs overseas, and lowers rates for businesses that create jobs right here in America."

Neither Obama's Tuesday speech nor his February 2012 corporate tax reform plan explained in detail which loopholes would be closed. During the 2012 presidential campaign, the Obama campaign hammered Mitt Romney for not saying which loopholes he would close to pay for a proposed reduction in individual income tax rates.
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Old 07-31-2013, 08:21 AM   #2
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He doesn't even understand the topic, I don't know why he is even discussing it.
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Old 07-31-2013, 08:26 AM   #3
loochy loochy is offline
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Originally Posted by Prison Bitch View Post
He doesn't even understand the topic, I don't know why he is even discussing it.
He thinks that if they are charged less tax they'll stop looking for loopholes and actually pay more? I don't think corporations will play along. The only way to make them stop using loopholes is to eliminate loopholes.
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Old 07-31-2013, 08:34 AM   #4
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That is some Laughable shit.
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Old 07-31-2013, 08:37 AM   #5
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Good. Rarely do any companies pay the top rate. Simplifying the tax codes and reducing statutory rate would eliminate a lot of non-productive activities and probably increase tax collections.
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Old 07-31-2013, 08:39 AM   #6
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Quote:
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Good. Rarely do any companies pay the top rate. Simplifying the tax codes and reducing statutory rate would eliminate a lot of non-productive activities and probably increase tax collections.
I might agree if there was a plan for closing the loopholes.
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Old 07-31-2013, 08:43 AM   #7
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40% for small business would make sure there were none.
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Old 07-31-2013, 08:54 AM   #8
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They can lower it to 0 % for all intents and purposes. crooks don't pay taxes.
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Old 07-31-2013, 08:56 AM   #9
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Quote:
Originally Posted by Buzz_TinBalls View Post
They can lower it to 0 % for all intents and purposes. crooks don't pay taxes.
Or register their handguns...
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Old 07-31-2013, 08:57 AM   #10
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Or register their handguns...
etc, etc, etc
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Old 07-31-2013, 09:07 AM   #11
loochy loochy is offline
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Quote:
Originally Posted by Buzz_TinBalls View Post
They can lower it to 0 % for all intents and purposes. crooks don't pay taxes.
is one a crook if using legal mechanisms?

close the loopholes
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Old 07-31-2013, 09:09 AM   #12
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That's a funny way of framing it, but in reality a rate-lowering, base-broadening reform of our corporate tax code is a great proposal, and one that Republicans agree with. Obviously its going nowhere in the House, but it would be a very good thing if it did.
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Old 07-31-2013, 09:09 AM   #13
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Great jobs strategy.

Let's spend taxpayer money on inefficient infrastructure projects we don't need and to help fund tax cuts, which won't create new jobs but will likely disproportionately go toward executive bonuses.
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Old 07-31-2013, 09:13 AM   #14
Ace Gunner Ace Gunner is offline
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Quote:
Originally Posted by loochy View Post
is one a crook if using legal mechanisms?

close the loopholes
you just go right ahead and believe corporate lobbyists didn't/aren't running america.
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Old 07-31-2013, 09:15 AM   #15
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It's simple. US...second highest corp. tax rate in world. Large US companies locating divisions to other countries with more friendly tax rates like Ireland...I think @20%. US is losing tax dollars and jobs in these moves. Small business is screwed because they don't have the resources and money to relocated overseas.
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