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Thread: Obama seeks 28 percent corp. tax rate

  1. #51
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by Justice For All View Post
    So Obama the ultimate crusader against tax cuts now wants to give bigger tax cuts than George W Bush. What a hypocrite, congrats Obama it looked like you were actually going to win this November but who knows now and honestly who cares with a two face canidate like yourself. You can count me out of this election there's no one to vote for between the flip floppers of Obama and Romney to the whackos of the right like Santorum and Gingrich. Even Ron Paul's homeland policies are whack in my opinion. Garbage in Garbage out.

    Good luck America your going to need it.
    Not at all. What he is trying to do is move away from penalizing companies who want to do business in the U.S. to taxing profits of individuals. We don't want to discourage doing business in the U.S. Our current corporate tax rate is high. Now the details of where else we get tax revenue is another discussion.
    Last edited by jambalaya; 02-23-12 at 09:43 AM.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by haymarket View Post
    This is one step in the right direction. I would have lowered it to 34.9% with no loopholes.
    You woulkd force corporations to pay 34.9% of their gross income?
    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.

  3. #53
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    No, it's not.

    This isn't going to do anything, except force corporations to pay more taxes. Small businesses will take an ass whipping with this plan.
    How so? The rate is coming down and small businesses have far less in loopholes. No way this is bad for small business. Me thinks you are talking from cynicism and emotion, not your head. If not, you must explain.

  4. #54
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    Ok, it's like this:
    no. it's not like this
    20% is NOT the average profit realized by the typical American business, large or small

    now let's look at your simplistic arithmetic (using your absurd 20% profitability projection)

    A business makes $100,000. It makes the average 20% profit. You take away from their 80% of deductions. Hince, you've raised their taxes and cut into their profit margin.
    you failed to address the REDUCTION of tax expense (seven percent for all businesses and more for manufacturers)
    if the deductions no longer available to the business exceed that seven (or more) percent savings in tax obligation, then the effective tax rate of the large or small business will be higher under Obama's proposal
    however, if the deductions no longer available to the business are less than that seven (or more) percent savings in tax obligation, then the effective tax rate of the large or small business will be lower under Obama's proposal
    what is not known is what the change in deductions will be. in contrast, we know what the change in tax obligation will be
    and this is why i put you on the spot when you insisted Obama's proposal will result in higher taxes for small businesses. the only way you could establish that as fact is to show us that the deductions lost to the small business community would exceed seven (or more for manufacturers) percent. and as we have seen, you are without the facts to back up your bold statement

    It ain't rocket science.
    that's a good thing. after you screwed the pooch so bad on something so simple it would be appalling to see what you would do with a spacial mechanics problem
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  5. #55
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    It's a tax increase for small businesses, too.
    Only 7% of small businesses are even affected by this law (paying at the corporate income tax rate) and the ones that do pay at the corporate tax rate paid an average effective rate of 27%.
    So if any small businesses see their tax rates increase it will be a very small group. Most importantly, they are going to be on an even playing field with their large multi-national competitors.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

  6. #56
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    Re: Obama seeks 28 percent corp. tax rate

    Good. Cut business taxes.

    In fact, I'd go further -- any company that builds a factory or somehow creates jobs in the United States doesn't pay any taxes on income reinvested in the economy. None, zero.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

  7. #57
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by upsideguy View Post
    How so? The rate is coming down and small businesses have far less in loopholes. No way this is bad for small business. Me thinks you are talking from cynicism and emotion, not your head. If not, you must explain.
    I just can't ask this question enough: Do you mean actual loopholes, or deductions? They're two different things.

    If you mean deductions of the cost of doing business, then there's no way in hell this is good for any business, large, or small.
    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.

  8. #58
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by iliveonramen View Post
    Only 7% of small businesses are even affected by this law (paying at the corporate income tax rate) and the ones that do pay at the corporate tax rate paid an average effective rate of 27%.
    So if any small businesses see their tax rates increase it will be a very small group. Most importantly, they are going to be on an even playing field with their large multi-national competitors.
    All c-corps pay the corporate rate.
    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.

  9. #59
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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by justabubba View Post
    no. it's not like this
    20% is NOT the average profit realized by the typical American business, large or small

    now let's look at your simplistic arithmetic (using your absurd 20% profitability projection)


    you failed to address the REDUCTION of tax expense (seven percent for all businesses and more for manufacturers)
    if the deductions no longer available to the business exceed that seven (or more) percent savings in tax obligation, then the effective tax rate of the large or small business will be higher under Obama's proposal
    however, if the deductions no longer available to the business are less than that seven (or more) percent savings in tax obligation, then the effective tax rate of the large or small business will be lower under Obama's proposal
    what is not known is what the change in deductions will be. in contrast, we know what the change in tax obligation will be
    and this is why i put you on the spot when you insisted Obama's proposal will result in higher taxes for small businesses. the only way you could establish that as fact is to show us that the deductions lost to the small business community would exceed seven (or more for manufacturers) percent. and as we have seen, you are without the facts to back up your bold statement


    that's a good thing. after you screwed the pooch so bad on something so simple it would be appalling to see what you would do with a spacial mechanics problem
    How is it absurd? 17-20% is the national average.
    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
    All c-corps pay the corporate rate.
    And....?
    I don't understand where you are going.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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