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Thread: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Redress View Post
    You are just as confused about the report as PeteEU. The report looked at the corporate tax rate and the rate that was actually paid after figuring in deductions and the like. The tax rate directly influences the effective rate, but is not the same as it. No one is saying they did not pay what they are legally obligated to pay.
    But the OP implied that some (GOP?) wished to lower the corporate/busniness tax rates alone, which is not true. The proposed tax reform includes many changes in the tax code which would subject more of those earnings to taxation as well.
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by ttwtt78640 View Post
    But the OP implied that some (GOP?) wished to lower the corporate/busniness tax rates alone, which is not true. The proposed tax reform includes many changes in the tax code which would subject more of those earnings to taxation as well.
    Which proposed tax reform?
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Good for them.

    I think there should be NO corporate/business tax of any kind.


    Anyone that thinks that the money corporations pay on corporate tax is not passed on in higher prices/fees to their customers is (imo) dreaming.

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by American View Post
    We have one of the highest corporate tax rates in the world, it's bad for business.
    The official rate may be high, but the effective rate is around 12% -- or 1/3 of the official rate.

    In comparison, the OECD average is around 15.4%, the G7 without the US is 18%.

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by American View Post
    Levi Strauss is a good example of a company that tried to maintain some manufacturing in the US, and finally not to many years ago moved their last operation overseas.
    LS started offshoring production in 1964. They stepped up foreign manufacturing not because of taxes, but because they were getting killed by the competition and had to cut costs. Nor do most companies that sell internationally need to move production abroad to cut their tax rate.

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Redress View Post
    Which proposed tax reform?
    Several tax reform plans have been discussed, most claiming to be "revenue neutral" which means that rate reductions will be offset by removing "loopholes" including targetted deductions/credits. This means that some will pay more and some will pay less, depending on what changes, other than the rates, are made.

    Tax reform plan puts small breaks at risk - The Hill's On The Money

    House GOP: We can move tax reform bill without Dem votes - The Hill's On The Money
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Visbek View Post
    The official rate may be high, but the effective rate is around 12% -- or 1/3 of the official rate.

    In comparison, the OECD average is around 15.4%, the G7 without the US is 18%.
    The comparison of US to foreign taxation is a very tricky game indeed. Most foreign nations have a single (national) method of taxation, while most US businesses pay both federal and state/local (income/property) taxes. Looking only at the US federal income taxes, while ignoring their state/local taxation makes this comparison very difficult.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Lord Tammerlain View Post
    I expect to indicate that those that say that US corporate taxes are too high, using the corporate tax rate as a comparison, rather then the effective tax rate, that in reality US corporate taxes are not that high.
    Are you saying the companies don't pay the corporate rate on all required income?
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by PeteEU View Post
    U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study



    Direct link to the report.

    http://www.gao.gov/assets/660/654957.pdf



    Wonder how the US conservatives are going to explain this one away..... I am guessing they are going to target the GOA as partisan or something similar.
    Much big businesses are criminal and should be treated as such i found it hard to believe we live in true democracy rather a college of cooperation

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by PeteEU View Post


    Direct link to the report.

    http://www.gao.gov/assets/660/654957.pdf



    Wonder how the US conservatives are going to explain this one away..... I am guessing they are going to target the GOA as partisan or something similar.
    I really don't think it's necessary to explain anything away. If they are maintaining legal status in calculation of the taxes they owe, then there is nothing unseemly or illegal about it. If anyone here denied that they personally take advantage of every tax advantage available to them, I'd assume they are being dishonest at the very least.
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