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Thread: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by Kandahar View Post
    Well, the CBO studied this issue in 2005. Here is the report they came up with:

    http://www.cbo.gov/ftpdocs/69xx/doc6...rporateTax.pdf

    I think the chart on Page 13 is especially interesting. When you look at taxes on corporate income as a percentage of GDP (which would take into account the various loopholes and deductions that vary from one country to another), the United States actually has one of the LOWEST corporate taxes. Only Germany and Iceland had lower rates as of 2005.
    I don't see anything in that report that really talks about effective corporate tax rates though. There are some charts about effective rates as they apply to things like machinery or depreciation, but not in general. It could very well be that I just don't understand it, but even if that's the case, we finished near the top in those as well.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by apdst View Post
    So, in a word, "no", you can't prove what you're saying? Is that what we're to gather? Of course it is.
    What are you talking about? I provided you with a link to the CBO report and even directed you to the proper page.

    Quote Originally Posted by apdst
    You don't even know what capital gains really are, do you?
    Capital gains are income from the sale of investments, and are currently taxed at a lower rate than normal income. If we eliminate corporate taxes, as we should, then there would be no need for them to be taxed less than any other income.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by Kandahar View Post
    What are you talking about? I provided you with a link to the CBO report and even directed you to the proper page.

    You posted a graph that isn't supported by any real data. Sorry, but I'm not impressed.

    I still wanna see how the United States has more loopholes than other countries.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Tax rates may be high, but the loopholes provided actually make for a lower tax output from corporations than people think. Kandahar is right about the 2005 report on what corporations paid in taxes in 2005. Many paid next to none:

    Do corporations pay too little in taxes? - Atlanta Business Chronicle:
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by formerroadie View Post
    Tax rates may be high, but the loopholes provided actually make for a lower tax output from corporations than people think. Kandahar is right about the 2005 report on what corporations paid in taxes in 2005. Many paid next to none:

    Do corporations pay too little in taxes? - Atlanta Business Chronicle:
    Nothing in that article supports the conclusions you claim should be drawn from the 2005 report. Further, that article explains why your conclusions are faulty.

    64% of companies paid no taxes at all because they had no corporate income. For the majority of those companies, the taxes were paid at the individual rate by the individual owners.

    Of those that actually paid taxes, many were lumped in with those that paid little, despite the fact that that's not a fair reflection of reality.

    But the GAO report is misleading and unfair to U.S. businesses, according to Tad D. Ransopher, assistant professor in the School of Accountancy at Georgia State University's J. Mack Robinson College of Business. For example, take a company with $100 million in gross income, says Ransopher. Figure the company has $80 million in legitimate deductions, including wages paid and cost of goods sold. That leaves $20 million in taxable income. If the company pays tax on 30 percent of that income, that's a $6 million tax bill, or 6 percent of its total income.
    This particular trope has been discussed on numerous other threads if you would like more information.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Report: Many Companies Able to Avoid Paying U.S. Income Taxes | Online NewsHour | August 12, 2008 | PBS
    More than 38,000 foreign corporations had no tax liability in 2005 and 1.2 million U.S. companies paid no income tax, the GAO said. Combined, the companies had $2.5 trillion in sales
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Corporate tax rates should be zero.

    Capital gains taxes should be zero.

    Estate taxes should be zero.

    But only if you want to see economic growth.

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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by RightinNYC View Post
    It should be noted that the table only assesses one aspect of taxation. For example, many of the countries cited in the table also have a Value Added Tax (VAT). The U.S. does not. The total tax burden (income, corporate, and consumption) is probably better for international comparisons.

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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by donsutherland1 View Post
    It should be noted that the table only assesses one aspect of taxation. For example, many of the countries cited in the table also have a Value Added Tax (VAT). The U.S. does not. The total tax burden (income, corporate, and consumption) is probably better for international comparisons.
    Companies do not pay VAT in most countries.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Loopholes or are they incentives to spur some sort of activity? Generally increasing productivity?

    Personally, I'm glad for each and every chance a business gets to save money, cause if they can't, they pass that on to their customers.

    Why do people like to pay more for things??
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