Posted on 03/18/2021 4:37:22 AM PDT by Onthebrink
Biden has threatened to hike the corporate income tax to either 35% (repealing the entire Trump tax cut as he has promised repeatedly during the campaign) or to 28% (which his staff discusses.) Either would bring the U.S. business tax higher than China’s 25% corporate income tax rate. When Biden was Obama’s Vice President the U.S. tax rate was 35%, ten percentage points higher than China’s 25%.
In 2014 more than $360 billion in U.S. corporate assets announced loans to invert, to leave the U.S. Our higher corporate rate and worldwide -- rather than territorial -- tax system made the U.S. uncompetitive. Biden would return us to that zone.
(Excerpt) Read more at nationalinterest.org ...
Raising taxes reduces overall revenue. It is killing the goose that lays the golden eggs, and of no benefit to either the goose or the revenues.
China is a fascist country so their business tax rate is irrelevant
I haven’t seen the numbers published lately, but it is a known fact that a dollar invested in the private sector turns over many more times than a dollar confiscated by the government and poured into a government program.
So, what else is new?
They always want to raise taxes on everything.
They realize that it reduces revenue; They don’t care, because they see it as punishment for success more than they see it as money they can spend...They have treasury bonds and FED Fiat for money to spend and buy votes.
They’re going to have to raise taxes if the country is to survive. Raise taxes and slash services.
So, you all better spend your lousy $1400 now before the government takes it all back through taxation.
Here is a message for Bidet: companies do not pay taxes, the people who buy their product pay the taxes. I know that concept is beyond his 85IQ, and diminishing each day, but that is the way things work.
Lastly Present Bidet, when you send out piles of money from the treasury without regard to what is coming in you are never going to balance the budget on the backs of those “at the top” or taxes paid by companies because 50% of our residents pay no income taxes anyway.
Welcome Comrade will be the new address here soon.
They’re going to have to raise taxes if the country is to survive. Raise taxes and slash services.
This country is not going to survive on its current path, that is correct. Raising taxes, or revenue. IMO, we need a flat tax, everyone pays. Only 50% of population has skin in the game now. When one pays, even a dollar, they watch their demands.
As far as services go, 90% of the public thinks the government creates the largess they get. Never going to change. The morons in congress want to let in another millions of dolts who cannot take care of themselves. Who do you think is going to pay for them? We have debased Citizenship here to second class status which is evident by the move to open the borders and grant anmesty.
Were done, try to ride it out.
“So, you all better spend your lousy $1400 now before the government takes it all back through taxation”
It will be gone from inflation and gas prices long before that.
Were done, try to ride it out.
And my tag line was born last summer, but only applied late last year. The rapidity of the collapse of our country from within that has already happened will be one for the history books. But it’s about to get a LOT worse, and as we have utter incompetence at the helm.
Welcome to Joe & Camel-A new USSA.... United Socialist state of aMeriKa
Take the $1400 to Las Vegas and play roulette.
You are right about raising taxes on everyone. But that must be accompanied by cutting spending.
But won’t happen because not popular politically.
It boils down to this, you cannot educate a socialist with facts. The world they live in do not accept truth or facts
For instance, my liberal inlaws think Roosevelt was the best president ever. When you try to tell them the facts about his policies they will not hear it.
Hell my MIL wears double masks after she has had the vaccine because Dickter Fauci says we should be. Clueless
85, boy you are generous
Not necessarily. Depends on where you currently fall on the Laffer curve.
Good. Stupid should hurt.
Yep.
The Federales printed an enormous sum of money. Now they need to get it out of circulation before it (further) destroys the value of the dollary.
I plan to pay off my property taxes with it,, well part of them anyway. So it all goes back to them anyway.
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