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Thread: Obama seeks 28 percent corp. tax rate

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    Obama seeks 28 percent corp. tax rate

    AP source: Obama seeks 28 percent corp. tax rate - Yahoo! News

    WASHINGTON (AP) — Laying down an election-year marker in the debate over taxes, the Obama administration is proposing to cut the corporate tax rate from 35 percent to 28 percent, and to seek an even lower effective rate for manufacturers, a senior administration official says.

    In turn, corporations would have to give up dozens of loopholes and subsidies that they now enjoy. Corporations with overseas operations would also face a minimum tax on their foreign earnings.
    Is 7% good enough to cut out loopholes?

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    Quote Originally Posted by Daktoria View Post
    You bet it is, many corporations such as GE pay no taxes.


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    Re: Obama seeks 28 percent corp. tax rate

    Based upon this just being an idea without any real specifics, I support doing something along these lines.

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    Re: Obama seeks 28 percent corp. tax rate

    It's evening the playing field. Your tax rate shouldn't be based on how influential your lobbying team is.
    “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

    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.
    "Rome is the mob. Conjure magic for them and they’ll be distracted. Take away their freedom and still they’ll roar. The beating heart of Rome is not the marble of the senate, it’s the sand of the coliseum. He’ll bring them death – and they will love him for it.” - Senator Gracchus (Gladiator)

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    Re: Obama seeks 28 percent corp. tax rate

    let's see what loopholes and corporate subsidies they intend to eliminate before we celebrate
    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 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.
    It's actually tax increase for a majority of the largest corporations in the nation. Their average effective tax rate is lower than 28%. Virtually no one pays 35%.
    “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 iliveonramen View Post
    It's actually tax increase for a majority of the largest corporations in the nation. Their average effective tax rate is lower than 28%. Virtually no one pays 35%.
    This is likely true but it's a start to where I would like to see us go. The lowest rate possible with far fewer exemptions.

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    Re: Obama seeks 28 percent corp. tax rate

    Quote Originally Posted by Daktoria View Post
    A complete non-sequitur. Loopholes are loopholes, rates are rates. The best way to get rid of loopholes is to get rid of the loopholes. Lowering the rate has little to do with it.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
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    Re: Obama seeks 28 percent corp. tax rate

    From what I understand, the money coming in to the federal government is supposed to be the exact same before and after, so the effective tax rate should be the same, though it will be less for those with less loopholes and more for those with more loopholes. I generally agree with the idea. Gigantic corporations should not be paying single digit tax rates, and in some cases, 0% taxes.
    Quote Originally Posted by TurtleDude View Post
    uh that is so small as to be stupid. Do you want registration? given less than 3% of criminals get their guns from private sales, its pretty much a waste of resources
    **Thirty Minutes Later**
    Quote Originally Posted by TurtleDude View Post
    you are confused. I never denied that many criminals get guns in private sales.

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