4 ms·

The actual counter-point is that history shows us the exact opposite of what you propose will happen. "Higher tax = more money for our efficient government" is

The actual counter-point is that history shows us the exact opposite of what you propose will happen. "Higher tax = more money for our efficient government" is incredibly simplistic and ignorant thinking. The fact is that lower tax rates actually result in higher tax revenue. https://taxfoundation.org/research/all/federal/benefits-of-a-corporate-tax-cut/ https://taxfoundation.org/research/all/federal/benefits-of-a...

mandmandam 2y ago
Lowering corporate tax rates is just a race to the bottom. Look at Apple paying an effective 1% tax rate on all European profits, just because some sneaky bois in Ireland decided that would be 'good for the economy'. Was it good for Ireland? A little, though our reputation has suffered. Was it good for Irish politicians? Have no doubt. Was it good for Europe? Fuck no. Was it good? Fuck no.
- calculatte 2y ago
  "lowering" doesn't mean having the lowest rate in a race to the bottom. Putting it back to 35% would put us as top 5 in the world. And for what? We have the data. This is a settled point. Tax revenue goes down and entire industries die and move away. Because yes, corporations will maximize their profits by any means. Folks seriously believe having one of the highest corporate tax rates in the world will have a positive effect are dreaming. Don't strawman with Ireland.
  - mandmandam 2y ago
    > "lowering" doesn't mean having the lowest rate in a race to the bottom. The world has seen tax rates lowered in a race to the bottom. > Putting it back to 35% would put us as top 5 in the world. See above. > We have the data. This is a settled point. Tax revenue goes down and entire industries die and move away. First off, no. Empirical evidence on the impact of lowering corporate tax rates shows mixed results. Implementation is key. We've been in a well documented race to the bottom for about 50 years. We've been ignoring potential solutions like capital controls, sabotaging tax harmonization and international cooperation, and taking away the ability of the IRS to chase big fish. American industry died because corporations chose to move their manufacturing to the places that were most willing to exploit their workers, with the backing of the same corporate-sponsored politicians cutting tax rates. 'The problem with neoliberalism is that sooner or later you run out of public goods to strip mine for temporary profits.' > Folks seriously believe having one of the highest corporate tax rates in the world will have a positive effect are dreaming. From 1952 to 1963 the corporate tax rate in the US was 52%, with the highest tax band set at 91%. The period and the years afterward were characterized by massive growth and decreases in inequality. You could call it the heyday of the American Dream, when upward mobility was at a peak. > Don't strawman with Ireland. Ireland illustrates the point perfectly. Apple moved there so they could pay <1% tax across all Europe in a secretive sweetheart deal, and Ireland didn't even benefit all that much. Tax harmonization put an end to it. All very relevant and not at all straw, unless you're coming in with a hard bias...

mandmandam 2y ago

Lowering corporate tax rates is just a race to the bottom. Look at Apple paying an effective 1% tax rate on all European profits, just because some sneaky bois in Ireland decided that would be 'good for the economy'. Was it good for Ireland? A little, though our reputation has suffered. Was it good for Irish politicians? Have no doubt. Was it good for Europe? Fuck no. Was it good? Fuck no.

calculatte 2y ago
"lowering" doesn't mean having the lowest rate in a race to the bottom. Putting it back to 35% would put us as top 5 in the world. And for what? We have the data. This is a settled point. Tax revenue goes down and entire industries die and move away. Because yes, corporations will maximize their profits by any means. Folks seriously believe having one of the highest corporate tax rates in the world will have a positive effect are dreaming. Don't strawman with Ireland.
- mandmandam 2y ago
  > "lowering" doesn't mean having the lowest rate in a race to the bottom. The world has seen tax rates lowered in a race to the bottom. > Putting it back to 35% would put us as top 5 in the world. See above. > We have the data. This is a settled point. Tax revenue goes down and entire industries die and move away. First off, no. Empirical evidence on the impact of lowering corporate tax rates shows mixed results. Implementation is key. We've been in a well documented race to the bottom for about 50 years. We've been ignoring potential solutions like capital controls, sabotaging tax harmonization and international cooperation, and taking away the ability of the IRS to chase big fish. American industry died because corporations chose to move their manufacturing to the places that were most willing to exploit their workers, with the backing of the same corporate-sponsored politicians cutting tax rates. 'The problem with neoliberalism is that sooner or later you run out of public goods to strip mine for temporary profits.' > Folks seriously believe having one of the highest corporate tax rates in the world will have a positive effect are dreaming. From 1952 to 1963 the corporate tax rate in the US was 52%, with the highest tax band set at 91%. The period and the years afterward were characterized by massive growth and decreases in inequality. You could call it the heyday of the American Dream, when upward mobility was at a peak. > Don't strawman with Ireland. Ireland illustrates the point perfectly. Apple moved there so they could pay <1% tax across all Europe in a secretive sweetheart deal, and Ireland didn't even benefit all that much. Tax harmonization put an end to it. All very relevant and not at all straw, unless you're coming in with a hard bias...