Quote:
Originally Posted by scottw
no...THE important part is Bill Clinton says the nation’s corporate tax rate is “uncompetitive” and called for a lower rate
and it completely refutes your statements and the idea, your statement "we can justify higher corporate tax rates" that higher taxes on corporations is valid a way to increase revenue, particularly right now
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I've never said we can justify having the highest taxes, but that we can justify having higher taxes as the US is a desirable place to do business for many industries. Certainly taxes are a factor (one factor of many) in where companies operate, but right now the effective corporate rate in the US is just over 25%, putting us lower than many industrialized nations including Canada, India, China, Brazil, Japan, Italy and Germany.
Source:
http://www.pwc.com/gx/en/paying-taxe...taxes_2009.pdf
Clinton is throwing the GOP a bone in an attempt to be a deal maker and at the same
time take away a key Republican talking point. Lowering the Tax rate from 35% to 25% while removing deductions will produce nearly the same tax revenue according to the GAO.
If it will even out how taxes are collected it's probably a good thing to do. These stories of corporations paying little or 1/2 the statutory rate is silly.
-spence