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The way I see it it's diversionary to the real issue: tax loopholes. Companies will always work to maximize profits / shareholder value, and a part of that is m
by jameskilton 15y ago
The way I see it it's diversionary to the real issue: tax loopholes. Companies will always work to maximize profits / shareholder value, and a part of that is minimizing taxes paid on income. What the tax rate here in the states doesn't make one lick of difference if these loop holes continue to exist. If Exxon-Mobile can make tens of billions without paying a single cent of tax on any of it, they will.
No the real thing that needs to happen is to first close these loopholes, THEN look at the tax rate and see if it's too high (it probably is, 35%? really? Is it this high in an attempt to offset the billions lost from tax loopholes?) and drop it appropriately.
- greyfade 15y agoCorporations in the US are legally persons. Persons earning greater than $350,000 per year have an income tax rate of 35%. The problem is probably that they're legally defined as persons.