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Lower the corporate tax to 0%, cut all corporate indirect tax subsidies, raise the top income brackets to offset the loss. Just doing this would be a big boon f

Lower the corporate tax to 0%, cut all corporate indirect tax subsidies, raise the top income brackets to offset the loss. Just doing this would be a big boon for the U.S., imo. At the very least, make the U.S. corporate tax structure actually competitive. We have the highest rate in the world, of course people are going to let their money sit off shore.

refurb 11y ago
raise the top income brackets to offset the loss. The only way that would work is if the "top income brackets" started at $75,000 per year.
vinay427 11y ago
Also, can we please stop taxing the incomes over the exempted amount for US citizens living overseas? I would love to have the option to live elsewhere for some time without my citizenship hanging over me as a burden.
- kilroy123 11y ago
  As an American living abroad now, I agree!
- eli_gottlieb 11y ago
  Can we please revoke the US citizenship, then, of people who move to Singapore just to avoid paying American income taxes? Or at least strip them of their assets when they try to give up citizenship as a tax ploy?
  - vinay427 11y ago
    Seriously? If they move to Singapore why should they ethically be liable for US taxes anyway? It's not like the US provides exemeplary services to non-residents that are superior every other developed country (which all do not tax their non-resident citizens). For instance, they didn't even opt to evacuate most citizens out of Yemen and requested help from India to do so. So no, I don't support paying taxes for services I don't receive. If I had to make an analogy, it would be like a remote worker being charged for a catered luncheon that he/she clearly can't attend, and when asked about being exempt like every other remote worker, being told that he/she became a remote worker solely to avoid the lunch payment and so should not be exempt.
    - eli_gottlieb 11y ago
      >If they move to Singapore why should they ethically be liable for US taxes anyway? Because they actually derive their entire income from work done and assets owned in the USA, and don't even really live in Singapore.
      - vinay427 11y ago
        > Because they actually derive their entire income from work done and assets owned in the USA How many people does this even apply to, compared to the vast number of US citizens abroad (some of whom are not even aware they are US citizens) who owe US taxes on income from local sources? If you really think this makes sense, then tax it, but that isn't how income tax works today for expats who are taxed on all of their income sources (globally) above the exemption. > don't even really live in Singapore There are laws in place to establish residency with a reasonable degree of enforcement.

refurb 11y ago

raise the top income brackets to offset the loss. The only way that would work is if the "top income brackets" started at $75,000 per year.

vinay427 11y ago

Also, can we please stop taxing the incomes over the exempted amount for US citizens living overseas? I would love to have the option to live elsewhere for some time without my citizenship hanging over me as a burden.

kilroy123 11y ago
As an American living abroad now, I agree!
eli_gottlieb 11y ago
Can we please revoke the US citizenship, then, of people who move to Singapore just to avoid paying American income taxes? Or at least strip them of their assets when they try to give up citizenship as a tax ploy?
- vinay427 11y ago
  Seriously? If they move to Singapore why should they ethically be liable for US taxes anyway? It's not like the US provides exemeplary services to non-residents that are superior every other developed country (which all do not tax their non-resident citizens). For instance, they didn't even opt to evacuate most citizens out of Yemen and requested help from India to do so. So no, I don't support paying taxes for services I don't receive. If I had to make an analogy, it would be like a remote worker being charged for a catered luncheon that he/she clearly can't attend, and when asked about being exempt like every other remote worker, being told that he/she became a remote worker solely to avoid the lunch payment and so should not be exempt.
  - eli_gottlieb 11y ago
    >If they move to Singapore why should they ethically be liable for US taxes anyway? Because they actually derive their entire income from work done and assets owned in the USA, and don't even really live in Singapore.
    - vinay427 11y ago
      > Because they actually derive their entire income from work done and assets owned in the USA How many people does this even apply to, compared to the vast number of US citizens abroad (some of whom are not even aware they are US citizens) who owe US taxes on income from local sources? If you really think this makes sense, then tax it, but that isn't how income tax works today for expats who are taxed on all of their income sources (globally) above the exemption. > don't even really live in Singapore There are laws in place to establish residency with a reasonable degree of enforcement.