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Thread: Obama seeks 28 percent corp. tax rate

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    Well, not neccessarily. It's like new hire credits that Obama has proposed. He expects a business to spend $30,000+ so as to qualify for a $3,000 tax credit.

    So, no, it doesn't mean that you get it back.
    You have a point there. Obviously you wouldn't take advantage of that credit if you didn't think that the new hires would net you at least $27k + $3,000 + $1.

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    Re: Obama seeks 28 percent corp. tax rate

    To be honest, I really don't see why we have a corporate tax rate.

    Corporations don't pay taxes. They're charged a fee by the government which they pass on to consumers through the price tag. All corporate taxes do is raise prices, make us less competitive abroad, and decrease demand. They hurt the consumer, they hurt the worker, and they hurt the business. I would much rather the corporate tax rate be dropped altogether and have revenue made up through some other, more visible, form of taxes.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by NAKED N00B View Post
    To be honest, I really don't see why we have a corporate tax rate.

    Corporations don't pay taxes. They're charged a fee by the government which they pass on to consumers through the price tag. All corporate taxes do is raise prices, make us less competitive abroad, and decrease demand. They hurt the consumer, they hurt the worker, and they hurt the business. I would much rather the corporate tax rate be dropped altogether and have revenue made up through some other, more visible, form of taxes.
    Do explain.
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by Jredbaron96 View Post
    Do explain.
    Let's say that a company has $1 million in taxable revenue. A 35% tax rate would have them paying $350,000. That's just another cost to them. That's a cost the same way that their employees' wages are a cost. The same way that materials are a cost. The same way that transportation of goods is a cost. It's all put into what they're going to have to pay. If they sell 1 million units a year, that's an extra 35 cents per unit that they will have to raise the price. If the corporate tax rate was 28%, the cost would be $280,000 and only 28 cents per unit. 10% = 100,000 = 10 cents per unit.

    Pretty simple. The lower the costs incurred through corporate taxes, the more freedom corporations have to lower their prices to make them more competitive. That's less money consumers are spending. This has two main benefits.

    First, it allows us to compete with other countries with lower corporate tax rates because it brings down our prices compared to theirs. Let's keep going with the example I've given. Ireland has a pretty low corporate tax rate. I think it's around 15%. So if other costs of production are equal, the corporate tax for the Irish corporation adds only 15 cents per unit while the US corporation incurs an extra 35 cents per unit. There are obviously going to be other costs. The cost to ship from Ireland would be much more. There are differences in wages and currency conversion, etc. But for this example we'll ignore that. Just with the corporate tax rate, Ireland beats us by 20 cents per unit, making their products that more attractive. If we lowered it, even to 20-25%, that's enough to compete more effectively with other countries.

    Secondly, it creates more demand for the product. Simple supply and demand going on here. If we make the cost for a corporation less and the price drops a similar amount, then demand will rise. It encourages the corporation to produce more. They hire more people. They make more money. They can invest more. There's a huge economic benefit.

    With the corporate tax rate, you're really just seeing the costs passed on to consumers through higher prices. If we lower the corporate tax rate we become more competitive and boost production with higher demand for cheaper products.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by AdamT View Post
    You have a point there. Obviously you wouldn't take advantage of that credit if you didn't think that the new hires would net you at least $27k + $3,000 + $1.
    I wouldn't hire anyone--tax credit, or no tax credit--if that person wasn't going to net me alot more than what it costs to make their payroll.

    Ya see, in business, the objective is to make a profit, not just break even. I realize that notion is alien to most Libbos.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by Tucker Case View Post
    You said "Have"



    I made it a little larger for you.
    I know what I said and I clarified what I meant. It doesn't take a brain surgeon to figure it out.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    I wouldn't hire anyone--tax credit, or no tax credit--if that person wasn't going to net me alot more than what it costs to make their payroll.

    Ya see, in business, the objective is to make a profit, not just break even. I realize that notion is alien to most Libbos.
    You have hit upon something here that destroys, crushes and then flushes the conservative right wing position that we need to cut taxes on companies and that money kept in the corporate coffers will result in more hiring.

    Thank you for that.

    Companies will only hire if the new employee brings in more money than it costs them.

    Thank you for exposing the fraud of tax breaks for business in the hopes they will hire anyone.
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    I know what I said and I clarified what I meant. It doesn't take a brain surgeon to figure it out.
    Why did you ask the following then

    Quote Originally Posted by apdst View Post
    When did I say, "have"?
    It doesn't take a garbage man to figure out you actually didn't remember that you said "have".

    Or do you not know what "when" means?
    Tucker Case - Tard magnet.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    I wouldn't hire anyone--tax credit, or no tax credit--if that person wasn't going to net me alot more than what it costs to make their payroll.

    Ya see, in business, the objective is to make a profit, not just break even. I realize that notion is alien to most Libbos.
    Right, if your cost is $30,000 and you bring in $30,001, then you've made $1 in profit. That's called arithmetic. I realize the concept is foreign to most wingnuts.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by haymarket View Post
    You have hit upon something here that destroys, crushes and then flushes the conservative right wing position that we need to cut taxes on companies and that money kept in the corporate coffers will result in more hiring.

    Thank you for that.

    Companies will only hire if the new employee brings in more money than it costs them.

    Thank you for exposing the fraud of tax breaks for business in the hopes they will hire anyone.
    I've never advocated cutting taxes. If anything, they should be left alone. One thing is certain, though; raising taxes isn't going to encourage expansion and therefore hiring.

    Libbo insist that cutting taxes on the working class will boost the economy, because that means more money they have to spend. Corporations are cousmers, too and it's assinine to insist that the opposite is true for them.

    Now, which is it going to be?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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