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Really? Have you investigated how many countries on the planet tax their citizens and corporations making money in other countries? The US marginal corporate
by IncRnd 9y ago
Really? Have you investigated how many countries on the planet tax their citizens and corporations making money in other countries?
The US marginal corporate tax rate is 38.92% compared to the worldwide average 22.5%. Until this recent tax bill passed, the US has had the 3rd highest marginal corporate tax rate in the world, surpassed only by the UAE and Puerto Rico.
The US federal government is greedy for cash not business friendly.
- toyg 9y agoA higher theoretical corporate rate is largely offset by lower income tax [1]. In the end, income taxes are basically a business cost for any company with employees. On top of that, actual tax rates after accounting for deductions are much lower [2], and then you have lower sales tax: in Europe VAT averages around 20%, whereas in the US sales tax averages well below 10% - which is why European tourists are notorious shoppers when going to North America. You can argue whether your dollars are well spent or whether there are internal disparities, but overall the US is hardly a tax hell. [1] http://www.bbc.co.uk/news/magazine-26327114 http://www.bbc.co.uk/news/magazine-26327114 [2] https://www.npr.org/2017/08/07/541797699/fact-check-does-the-u-s-have-the-highest-corporate-tax-rate-in-the-world https://www.npr.org/2017/08/07/541797699/fact-check-does-the...
- IncRnd 9y agoI try to tell myself that each quarter... From the standpoint of a business owner, you almost always need to spend the money in the first place in order to get deductions.