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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 iliveonramen View Post
    And....?
    I don't understand where you are going.
    In that case, I'm wasting my time trying to explain it to you. You will never get it.
    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 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
    Not all businesses pay the highest rate. The corporate tax rate is bracketted, just like the tax rate on individuals.

    If you remove deductions on a small business that is only paying in the 15% tax bracket, then you've raised that companies taxes.
    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
    Not all businesses pay the highest rate. The corporate tax rate is bracketted, just like the tax rate on individuals.

    If you remove deductions on a small business that is only paying in the 15% tax bracket, then you've raised that companies taxes.
    It's possible. But as someone pointed out, very few small businesses even use the corporate form, so about 95% of small businesses wouldn't be affected by this at all.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by rocket88 View Post
    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.
    Throw in jobs tax credits and investment tax credits (which are in and out of out tax code every 10 years) .... and the accelerated depreciation and liberal write-off of capital investment already in the tax code and you essentially have that.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    Not all businesses pay the highest rate. The corporate tax rate is bracketted, just like the tax rate on individuals.

    If you remove deductions on a small business that is only paying in the 15% tax bracket, then you've raised that companies taxes.
    Deductions are not loopholes. You can't remove deductions otherwise you are not taxing income but rather have a sales tax on steriods. In order to tax income, you have to have deductions as by definition, income is revenue less cost of revenue/expense (deductions).

    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 01:15 PM.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    Not all businesses pay the highest rate. The corporate tax rate is bracketted, just like the tax rate on individuals.

    If you remove deductions on a small business that is only paying in the 15% tax bracket, then you've raised that companies taxes.
    you are talking about s corps. the 15% tax bracket is for a VERY small C corp.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    How is it absurd? 17-20% is the national average.
    ok, show us the source of this (bogus) information
    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

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    In that case, I'm wasting my time trying to explain it to you. You will never get it.
    I guess not. I have no idea what your point was.

    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.
    “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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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by apdst View Post
    You woulkd force corporations to pay 34.9% of their gross income?
    I would have lowered the corporate tax rate from the current 35%.
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    Re: Obama seeks 28 percent corp. tax rate

    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.”

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