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Top corporate tax rate in 2017: 35%. [1] Typical individual income tax: 30%. [2] [1] https://www.thebalancesmb.com/corporate-tax-rates-and-tax-calculation-397
by DenisM 8y ago
Top corporate tax rate in 2017: 35%. [1]
Typical individual income tax: 30%. [2]
[1] https://www.thebalancesmb.com/corporate-tax-rates-and-tax-calculation-397647 https://www.thebalancesmb.com/corporate-tax-rates-and-tax-ca...
[2] https://www.fool.com/retirement/2017/03/04/whats-the-average-americans-tax-rate.aspx https://www.fool.com/retirement/2017/03/04/whats-the-average...
- Analemma_ 8y agoAbsolutely nobody pays the actual statutory corporate tax rate, the average tax rate paid by US business after applying loopholes and so on is 22-24%: [1], and about a fifth of profitable companies pay no tax at all: [2]. This is so well-known and obvious that even mentioning the 35% rate at all is evidence of bad-faith arguing. [1] https://www.cbpp.org/research/federal-tax/actual-us-corporate-tax-rates-are-in-line-with-comparable-countries https://www.cbpp.org/research/federal-tax/actual-us-corporat... [2] https://www.forbes.com/sites/eriksherman/2017/04/24/trumps-corporate-tax-slash-ignores-how-litte-companies-already-pay/#36da8fa958aa https://www.forbes.com/sites/eriksherman/2017/04/24/trumps-c...
- kolpa 8y agoIt's not even a relevant comparison. "Corporations" don't spend profits on luxuries for themselves. Their human owners do. Owners pay capital gains tax (which you can argue is too high or low or too easily avoided.)
- DenisM 8y agoYou are making my point for me. Corporate profits are double-taxed. In 2017 the corporate profits would be taxed at 35% before distribution, and then once again at 20% after distribution (to the shareholders), for a cumulative tax rate from the profit made by a business to the money in the investor's pocket of 48%.
- DenisM 8y agoThe HN guidelines stipulate that you assume good faith: https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html Do you?