3 ms·

My first thought was "only 27%? The US has a 35% corporate rate and can't afford this". My second thought was "oh, right, the US effective rate is around 12%".

My first thought was "only 27%? The US has a 35% corporate rate and can't afford this". My second thought was "oh, right, the US effective rate is around 12%". How will they actually guarantee they collect this rate, as opposed to just scaring off corporations or having them offshore/tax-haven their way to maintaining profits?

nico 11y ago
How will they actually guarantee they collect this rate, as opposed to just scaring off corporations or having them offshore/tax-haven their way to maintaining profits? Exactly, they can't, and it already didn't work. Now they are looking to create additional taxes to collect more money.
adventured 11y ago
The US effective corporate tax rate is over 25%, and it's also worth focusing on the median corporate tax rates. That famous 12% rate leaves out a lot of things and is not valid. For example it only included profitable corporations with at least $10 million in assets, and it ignores state and local taxes. http://www.politifact.com/punditfact/statements/2014/sep/09/eric-bolling/does-us-have-highest-corporate-tax-rate-free-world/ http://www.politifact.com/punditfact/statements/2014/sep/09/... http://dailycaller.com/2014/10/15/analysis-are-us-corporate-taxes-really-the-highest-in-the-world/ http://dailycaller.com/2014/10/15/analysis-are-us-corporate-... "Tannenbaum cites a PriceWaterhouseCoopers report showing that, “the effective U.S. corporate tax rate is 27.7 percent, versus 22.6 percent for OECD countries excluding the United States.” However, he fails to note that those numbers were compiled for the period from 2006 to 2009." "A more recent PwC report, conducted in conjunction with the World Bank, listed the effective U.S. corporate tax rate at 27.9 percent for 2014, while the OECD average was only 15.9 percent."

3 ms·

My first thought was "only 27%? The US has a 35% corporate rate and can't afford this". My second thought was "oh, right, the US effective rate is around 12%".

by jasonmp85 11y ago

nico 11y ago
How will they actually guarantee they collect this rate, as opposed to just scaring off corporations or having them offshore/tax-haven their way to maintaining profits? Exactly, they can't, and it already didn't work. Now they are looking to create additional taxes to collect more money.
adventured 11y ago
The US effective corporate tax rate is over 25%, and it's also worth focusing on the median corporate tax rates. That famous 12% rate leaves out a lot of things and is not valid. For example it only included profitable corporations with at least $10 million in assets, and it ignores state and local taxes. http://www.politifact.com/punditfact/statements/2014/sep/09/eric-bolling/does-us-have-highest-corporate-tax-rate-free-world/ http://www.politifact.com/punditfact/statements/2014/sep/09/... http://dailycaller.com/2014/10/15/analysis-are-us-corporate-taxes-really-the-highest-in-the-world/ http://dailycaller.com/2014/10/15/analysis-are-us-corporate-... "Tannenbaum cites a PriceWaterhouseCoopers report showing that, “the effective U.S. corporate tax rate is 27.7 percent, versus 22.6 percent for OECD countries excluding the United States.” However, he fails to note that those numbers were compiled for the period from 2006 to 2009." "A more recent PwC report, conducted in conjunction with the World Bank, listed the effective U.S. corporate tax rate at 27.9 percent for 2014, while the OECD average was only 15.9 percent."