Posted on 06/03/2021 10:26:01 AM PDT by ChicagoConservative27
President Joe Biden proposed a major concession on paying for an infrastructure bill according to a new report on details of private negotiations between the White House and Senate Republicans.
The Washington Post reports that Biden would not raise the corporate tax rate from 21 percent to 28 percent and instead propose a minimum corporate tax of 15 percent — for companies like Amazon that pay little to nothing in federal taxes.
(Excerpt) Read more at breitbart.com ...
A tale from the bicycle components industry. The French used to make a lot of bicycle components, Mayfac, Simplex, and Mavic were all major players. Infact, they do images the market with innovative and pretty well made products. Due to French labor and tax laws in the 1960s and 70s, others than Magic, which still produces wheels and rims, they are all gone. Even if you back off the socialism latter, it is hard to rebuild an industry.
They went from the leader to gone in a decade. Bidet is going to do that to every industry in the US.
When is our military going to step in and stop the utter destruction of our country. This piece of excrement has to go.
Fixed it.
Lemme guess, they will all become Deleware corporations, right Quid Pro Joe?
Corporations don’t pay taxes - they just pass it onto to us in the prices of goods and services.
But if Biden wants to do this then is he OK with a 15 percent minimum personal income tax?
Umm, most of them pay no federal taxes because they record zero taxable income for that year. So 15% of what? 15% of zero is still zero.
LOL. That won’t cause inflation at all...
this. exactly. 100%
i wish more people understood this when they start griping about too little corporate taxation.
and the result with this is that prices that have already been going nuts because of the free handout money are just going to go that much higher, or more, because its not just 15% the corporation will have to pay, but the costs associated with implementing, tracking, and paying these fees to the tyranny.
how about 401k and pensions? that should be taxed too!
So Joe, How about a 15% minimum tax for those who pay no taxes?
But how does one assess a 15% minimum tax on corporations that make no income? 15% of what?
A 15% tax can easily become a 18%, 22%. 28% and higher tax. Nothing could possibly drive out corporations, businesses, and capital investment from our shores than this. With the possible exception of all the other tax increases Biden will pile on us all.
Which is why the corrupt rhetoric coming out of this cork headed ventriloquist dummy will evolve into calls for international or global taxation, via the UN in some capacity. If I am misreading this, I will be pleasantly surprised. But I am not feeling that pleasant right now.
Let us call it “pay your fair share tax”. And Dems tell you what your fair share is..sarcasm, UT might be what they call it.
They are federally taxed.
Has to be something like that, sounds like it's going to b tough to figure out, unless they restrict legitimate expense deductions.
The question would be - “15% of what?”
I’m pretty sure it would be pretty much 15% of $0 after the tax lawyers whittle down the “profits”.
how much federal income tax did Apple pay last year?
Google
Facebook
just curious
As Hannity has said (repeatedly) corportations don’t pay taxes. They just tack it on to the cost of whatever goods or services they provide. So it’s the consumer who pays the tax.
What would it be 15% of. You can’t pay 15% of zero profits. And if they make up something, corps will just make $10K of profits every year and pay 15% of that. There is something missing about this article.
‘Corporations don’t pay taxes.’
Why make the voters have to think? Not worth the effort to fight them. When they’re in the majority they’ll vote this way. Just wait until we get back in. This issue is wasted effort, especially when you throw in that the corporations are woke.
Well, this is not that stupid. I am not sure how this would be implemented though? It punishes the internationals, globalists. Would probably not touch the small and midsize companies, those who should not be touched! As far as for the globalists, I do not care! Let them pay some taxes!
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