Posted on 08/14/2008 10:22:13 PM PDT by FocusNexus
The new international tax rankings are out for 2008, and congratulations to Washington, D.C., are again in order. Our political class has managed to maintain America's rank with the second highest corporate tax rate in the world at 39.3% (average combined federal and state).
For the first time, the U.S. statutory rate is now 50% higher than the average of our international competitors, continuing a long-term trend as the rest of the world keeps reducing corporate tax rates.
Last week Senator Byron Dorgan of North Dakota waved around a new politically generated study by the Government Accountability Office (GAO) finding that 28% of large U.S. corporations paid no income tax in 2005. "It's time for big corporations to pay their fair share," Mr. Dorgan roared.
Well, the Tax Foundation looked at those numbers and found that, among the large companies that paid no taxes, 85% of them also made no profits that year.
To correct this revenue dearth, Barack Obama and Democrats in Congress are proposing to pry more tax money out of U.S. companies that have profitable affiliates outside the U.S. Mr. Obama is also shamelessly taking the Byron Dorgan line that the problem is venal U.S. CEOs rather than the nutty U.S. tax code.
(Excerpt) Read more at online.wsj.com ...
Well we obviously need to raise taxes.
Any fool can see that (i.e. Byron Dorgan, Barack Obama, and Democrats in Congress).
I agree. Raise taxes to the point that all business moves out of the country or fails. Raise the income tax on all the citizens too. As a matter of fact, I recommend that all money earned by private citizens be taken every payday and doled out via a gubbmint ID debit card which only allows a certain amount for each expenditure, which will be decided by the gubbmint.
OR.....we could get really serious about this and vote these people out...right?.....right??.....hahahahahahahaha!!!!!
FMCDH(BITS)
Consider that in the US you have:
1. A very high tax rate
2. Repressive environmental regulations
3. Confiscatory legal system run by greedy trial lawyers
4. Labor unions bent on protecting an overpaid, underproductive and unhealthy work force
One wonders how we have been able to maintain the prosperity we do have.
FairTax ping!!
Doing away with the taxation of income and replacing it with the taxation of consumption would change the whole game.
Then again, doing away with the IRS and cutting spending to 2000 levels would work too, as Ron Paul has proposed.
Either way, we’ve got to do something drastic about the tax code.
The Left always points the finger away from themselves to some outside “enemy.” Communists countries around the world deflected blame from themselves to the “Evil United States” whom they claimed were undermining all their good works. Domestically, the Left/Democrats point to “Greedy Corporate America.” Same Talking Points, same Playbook!
The International Left is behind it all!
And “greedy corporate America” is largely the driving force behind much of the leftist globalism that’s chipping away at our sovereignty! Hypocrites. They cast blame while they ride the very wave they demonize.
Yes, but they still incur huge compliance costs, which are passed on to individuals.
Does this take into account VATs? I could see that a much lower direct tax on corporate profits would easily be outmatched by the VAT taxes along the way resulting in higher consumer prices and greater levels of plunder into gov’t coffers.
By spending our children’s earnings and eating our seed corn.
By spending our children’s earnings and eating our seed corn.
Well clearly we need to send more of our factories to Communists.
We need to offshore more technology and more programming.
Obviously that means we’ll fire a lot of people, who will need jobs. But there won’t be jobs. So they’ll end up working at Walmart.
And Walmart sells Chinese imports cheaply.
Therefore: America is competitive!
No problem! Everyone go back to sleep. China is our friend. Venezuela is our friend. Saudi Arabia is our friend.
We send them all our jobs, factories and money. We’re all friends. Now, hush and shut your eyes. Don’t think about the boogie man. Everything is just fine.
You’re getting sleepy...
POST #7 LOLOLOLOLOLOL
Well without government oversight and regulation, how can we possibly claim to be free?
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