It doesn't matter what they put in place for a tax % on corporations. It really doesn't. Corporations and their lobbyists are going to influence everything and find (and in many cases create) new loopholes, exploit old ones, make deductions ect ect ect. Set it at 98% who gives a crap. I will care about the corporate tax rates when corporations are actually expected to pay it.
This is purely political. Obama is putting a number out there to make people feel good. And a ton of poeple are going to buy into it and think it makes a difference. But set it at 28% or 35% or 42%. These large corporations are going to be paying less than 10%. This move changes nothing other than it will get Obama a few more votes. And in the end, like every politician, its not about what is best for America. It is not about improving our country. Its only about making people think you did something so you can harvest their vote and stay in office.
Those details were left out on purpose to let Congress work some of them out. This just points a direction, which specific mountain pass or valley gets traveled will be something decided in the future. No doubt business will gets it's say in those discussions as well. Obama is not now and never has been out to ax small business. If anything he's been trying to help them.
Mt. Rushmore: Three surveyors and some other guy.
Life goes on within you and without you. -Harrison
Hear the echoes of the centuries, Power isn't all that money buys. -Peart
After you learn quantum mechanics you're never really the same again. -Weinberg
you were challenged to show why such a bold statement could be made, recognizing the tax rates for those businesses were being reduced
and now you want me to prove what you were unable to prove - is wrong
next you will expect me to divide by zero
you whiffed - as usual
Corps should have no tax at all because the reality is they just figure in taxes as part of the cost to produce their goods or service and tack it onto the price we pay for it so in reality a corp tax just taxes the consumer.
a 0% corporate tax rate would be better