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

  1. #21
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by Simon W. Moon View Post
    To be honest, I'd be more impressed with figures about what is actually paid rather than tax rates.
    There are a fair number of loopholes as anyone who has had a small business knows.

    The numbers for rates don't seem quite as meaningful as the actual practical effects of the tax codes.

    A lower rate w/ fewer ways around paying could result in a more oppressive taxation than a more flexible system with higher rates.
    True. I look at and analyze financial statements for a living. I rarely see cash tax payments approaching 39%. Sometimes I do see cash tax payments higher than 39%, but in nearly all cases it's lower. In many cases it's WAY lower. Plus, comparing tax rates across countries is comparing apples to aardvarks because every country will have different rules regarding what constitutes "taxable income". In other words, the table is good as a bird cage liner but that's about it.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by PeteEU View Post
    Companies do not pay VAT in most countries.
    Correct.

    My point is that one can't really have a strong understanding of a country's tax situation, much less its impact on overall competitiveness, without examining the total tax burden. High taxes on one sector does not necessarily mean the country is a "high tax" state nor does it mean that its firms are competitively disadvantaged. Higher taxes on one or more sectors may be the result of the absence of taxation/low taxes on another.

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    Re: 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 donsutherland1 View Post
    Correct.

    My point is that one can't really have a strong understanding of a country's tax situation, much less its impact on overall competitiveness, without examining the total tax burden. High taxes on one sector does not necessarily mean the country is a "high tax" state nor does it mean that its firms are competitively disadvantaged. Higher taxes on one or more sectors may be the result of the absence of taxation/low taxes on another.
    Yep. Plus it is not only taxes. For example, in the US many companies are "burden" by healthcare costs. European companies are not. In some US states and areas I believe there is also VAT. VAT is also considerably different from nation to nation. I believe in the UK there is no VAT on books, where as in Denmark there is an across the board 25%. There are many many factors to be put into place to get an accurate picture of a "tax burden" or "cost" for the company or person.
    PeteEU

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

    Quote Originally Posted by Scarecrow Akhbar View Post

    But only if you want to see economic growth.
    That's the last thing the current administration wants.
    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: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by apdst View Post
    That's the last thing the current administration wants.
    Goes without saying. Only someone that hates America would deny that tax cuts spur growth and proclaim that trillion dollar deficits are helpful.

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

    Quote Originally Posted by Scarecrow Akhbar View Post
    Goes without saying. Only someone that hates America would deny that tax cuts spur growth and proclaim that trillion dollar deficits are helpful.
    This is a repeat of the Weimar Government, only this time, it's intentional.
    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: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by MrVicchio View Post
    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??
    If we want companies to be more profitable I'd prefer to see it done with lower rates rather than loopholes. Loopholes sound too much like favors and favors sound too much like corruption.
    If you expect people to be rational, you aren't being rational.

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

    Quote Originally Posted by PeteEU View Post
    Companies do not pay VAT in most countries.
    Well, not directly...but it certainly affects their profits, regardless of whether the tax is actually paid by the company or the consumer. I think it's similar to a corporate tax, in that they're both regressive and both make businesses less competitive.

    Ideally, I think nations should derive most of their revenue from income taxes...and a few other user fees, like a gasoline tax, auto licensing fees, pollution-related taxes on companies, etc.

    Things like VATs or corporate taxes or sales taxes hurt the poorest people the most.

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

    Quote Originally Posted by Kandahar View Post
    Well, not directly...but it certainly affects their profits, regardless of whether the tax is actually paid by the company or the consumer. I think it's similar to a corporate tax, in that they're both regressive and both make businesses less competitive.

    Ideally, I think nations should derive most of their revenue from income taxes...and a few other user fees, like a gasoline tax, auto licensing fees, pollution-related taxes on companies, etc.

    Things like VATs or corporate taxes or sales taxes hurt the poorest people the most.
    Pollution taxes, as a from of permanent revenue wouldn't do anything but kill jobs.
    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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