Loopholes are deductions when companies comply with the letter, rather than the spirit of the law. Things like off-shoring profits through sophisticated cost allocation plans that have foreign subsidiaries selling goods at high profit to the US subsidiary and the US subsidiary selling those goods to the consumer at its contrived cost such that the company shows no US profit and thus pays no US tax.... o
Last edited by upsideguy; 02-23-12 at 12:15 PM.
I said only 7% of small corporations are affected by corporate income tax changes (C-Corps) Of those small businesses their average effective tax rate is around 27%. I don't see what your statement added to the converstation or any point it proved.
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There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers
Raising taxes on corporations? Well that ought to be the final dagger in the country once called America.
How can he be so stupid? Corps are fleeing over seas to escape our ridiculous tax rates and he wants to go higher? If anything we need to reduce or eliminate corporate taxes. That will help regenerate our economy. Raising taxes just hurts the consumer.
You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”