U.S. Has Highest Corporate Tax In World: Much to Learn From Ireland

American Legislator ^ | 3-18-15 | Ben Wilterdink

[ThethoughtsofGreg]

While Saint Patrick’s Day gives people all over the world a reason to be Irish for a day, it might be better for the United States to move permanently ‘Irish’ when it comes to corporate income tax rates. The United States currently has the highest corporate income tax rate in the developed world at 35 percent federally, and reaches almost 40 percent once the average state corporate income tax rate is included. By contrast, Ireland maintains a top statutory rate of just 12.5 percent, less than a third of the top U.S. rate. This competitive, pro-growth corporate income tax rate has certainly paid off. Ireland’s economy struggled during the past few years, due mainly to an economically depressed Eurozone that reduced demand for Irish exports, but is now making a come-back. Ireland experienced 7.7 percent growth in Gross Domestic Product (GDP) during the second quarter of 2014 from the second quarter of 2013. This high growth rate was achieved while the Eurozone as a whole saw little or no growth in GDP. These figures have led some to estimate that the Irish economy could grow by as high as 5 percent in 2014.

[Blood of Tyrants]

It is all in an effort to drive businesses offshore to China.

[MichaelCorleone]

Then why doesn’t the Chamber of Communists lobby hard to reduce that burden instead of fighting tooth and nail for amnesty?

Fools.

[PieterCasparzen]

No need to worry. Check out the effective rates of the largest US corporations.

Taxes are for the little sheeple !

[WILLIALAL]

... Check out the effective rates of the largest US corporations.....

Exactly. Don’t fall for the ubber corporations calling for corporate tax cuts.

[Soul of the South]

“Taxes are for the little sheeple !”

Taxes are for the entrepreneurs who start the small businesses that employ most Americans. Small business owners pay taxes at the marginal individual rate, not the discounted corporate rate paid by the multinational corporations comprising the Chamber of Commerce.

Real corporate tax reform would consist of the the following:

1) 15% flat rate on income after depreciation, dividend, and interest payments. No credits, exemptions (except what is noted below in #5), accelerated depreciation, and other subsidies carved out in the tax code. Notice I said after dividends paid to the shareholders. This would eliminate double taxation of dividends.
2) Small business has the option of filing as a corporation and paying the 15% rate. Personal income of the small business owner would be taxable at the individual rate.
3) Reinstate a flat tariff of 30% on all imported goods. This represents a charge for access to the US market as well as tax on earnings of foreign factories doing business in the US.
4) Companies producing goods 100% manufactured in the United States using components and raw materials sourced 100% in the United States would pay only a 10% flat corporate income tax.
5) US companies will be exempt on income taxes on profits earned from goods manufactured in the United States and exported from the US.

[BeauBo]

Whatever you tax you get less of,
and whatever you subsidize you get more of.

There is an optimum tax rate, for maximizing Government revenue. Beyond that rate, the drag on business is so great that it shrinks the total pie more than what the bigger cut makes.

We are well past that tax rate now (which is around 20%). The higher the rate goes past the point of optimum revenue, the more unnecessary damage is done to the overall economy.

Obama said that even if it reduced revenue to the Government, he supported higher taxes as a moral issue. The conclusion from that statement is that he considers wealth (also known as Capital) to be a bad thing.

I think the main thing that drives politicians to drive up tax rates is their simple greed to spend more money, but some leftists also want to use it as a weapon to destroy capitalism.

The second of the ten planks of The Communist Manifesto is a heavy and progressive income tax. The third plank is a 100% inheritance tax.

[PieterCasparzen]

Great thoughts if you’re on the side of the American taxpayer, but this is not the program of the ruling elites.

My wish for you is that you will learn about the ruling elites.

You’re obviously very smart and capable and a decent guy, and I think you’d be pretty well shocked at some of the elite’s activities in history.

If you study the elites you’ll eventually see the roadblocks they represent to America and why these “roadblocks” need to be cleared.

“How” to remove them is a question pondered in “graduate studies” at the PieterCasparzen university of the study of global elite diabolical war criminals.