Posted on 09/04/2014 7:04:44 AM PDT by SeekAndFind
The nominal corporate-income-tax rate in the United States is 35 percent, the highest in the developed world. That’s the on-paper rate. The effective corporate-income-tax rate — i.e., the actual rate — is . . . a matter of some dispute, but Martin A. Sullivan, a highly regarded economist specializing in taxation, puts it around 28 percent. Others have estimated the rate to be much lower: A Government Accountability (ha!) Office study put the figure at about 13 percent.
Let’s put it at 0.00 percent.
In reality, the effective corporate tax rate varies substantially from firm to firm and from industry to industry. As Sullivan points out, corporations that operate exclusively within the United States pay an effective tax rate very close to that 35 percent statutory rate, and energy and mining companies generally pay a relatively high rate. On the other hand, multinationals doing most of their business abroad often pay much lower rates, as do many technology and pharmaceutical companies.
For example, in 2013 Chevron, ConocoPhillips, and ExxonMobil all had effective tax rates higher than the U.S. statutory rate, but most of their taxes were owed to foreign governments. Microsoft paid about 19 percent. According to S&P Capital IQ, neither Merck nor General Motors paid any corporate income taxes for the second quarter of this year, even though both brought tons of money. (About 22 and a half tons of money in Merck’s case, if you stacked it up in hundred-dollar bills.) Total federal revenue from corporate income taxes in 2013 was $274 billion, or 9.8 percent of total receipts.
(Excerpt) Read more at nationalreview.com ...
I’m a couple of years older than you, but I still shoot very well and can hike 15 - 20 miles when I want to. So I say, if ever - now is fine. My biggest fear is for this to dribble on like it is and the real sh@t start when I’m in my 80’s.
There’s a third, hidden, tax in that consumers are forced to pay higher prices because businesses factor in taxes into their pricing strategies.
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Good observation. I can only add that ANY tax, hidden or direct,is ultimately going to transfer income away from consumers and toward the government. The better conservatives can explain this in their talking points,the more electable they will become.
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Good observation. I can only add that ANY tax, hidden or direct,is ultimately going to transfer income away from consumers and toward the government. The better conservatives can explain this in their talking points,the more electable they will become.”
Not really that is controlled by the market and this is only one part of the market. If it were this simple then Business would not holler about taxes like the do, they would just pass it on. They would not move out of high tax states they would just pass the taxes on.
Corporations do not pay taxes; they collect it from their customers as a courtesy to the government. The high US rates puts US companies at a competitive price disadvantage in the world markets. Any other view is formulated without reference to reality. Our government is destroying our economy. This is not an accident.
Yup, it will be a bear to try to summon any strength at all at 80+. When you see pics of past wars and see the look in the old mens eyes, you know the mind was willing but the body was not.
If every conservative takes 8 to 10 with ‘em, who knows, we might even be able to save the country.
That’s when the 75 rd drum will come in handy. I know it’s spray and pray but I think just the sheer noise and fury will be worth something. Problem is the barrel gets so damn hot.(which will be the least of my worries I know)
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