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

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

    The Tax Foundation has released U.S. Lags While Competitors Accelerate Corporate Income Tax Reform:

    New data from the Organization for Economic Cooperation and Development (OECD) shows that the U.S. corporate tax rate has fallen even further out of step with the rest of the industrialized world as countries such as Canada, the Czech Republic, Korea, and Sweden have cut their corporate rates in 2009, lowering the average statutory corporate tax rate of all OECD nations to 26.5%.

    With a combined federal and state corporate tax rate of 39.1%, the U.S. continues to impose the second-highest overall corporate rate among industrialized countries. Only Japan's 39.5% combined rate is higher.
    TaxProf Blog: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World





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

    Another one of, "are you surprised?", pieces of info. The greatest part, Krewe Obama is going to make it even higher.
    Quote Originally Posted by Top Cat View Post
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Actually, I am a bit surprised. Puts paid to a lot of popular myths, though.

    "Lassez-faire," indeed.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    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.
    I may be wrong.

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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.
    This is of course true, but I don't know of anything indicating that these loopholes are any more prevalent here than anywhere else.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by RightinNYC View Post
    This is of course true, but I don't know of anything indicating that these loopholes are any more prevalent here than anywhere else.
    There's not really enough info available here to draw any conclusions, imho.
    I may be wrong.

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

    Quote Originally Posted by RightinNYC View Post
    While it's true that the corporate tax rate that's on the books is higher in the United States than most other countries, the United States also has an immensely complex system of deductions. When these are factored in, the effective tax rate that corporations pay is actually below the OECD average.

    With that said, I think we should move toward a system where we eliminate corporate taxes entirely. They're very regressive, and they impose double taxation on investors. And as we reduce corporate taxes, we should increase capital gains taxes to make up the difference.
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    Re: U.S. Corporate Tax Rate Is 2nd Highest in Industrialized World

    Quote Originally Posted by Kandahar View Post
    While it's true that the corporate tax rate that's on the books is higher in the United States than most other countries, the United States also has an immensely complex system of deductions. When these are factored in, the effective tax rate that corporations pay is actually below the OECD average.

    With that said, I think we should move toward a system where we eliminate corporate taxes entirely. They're very regressive, and they impose double taxation on investors. And as we reduce corporate taxes, we should increase capital gains taxes to make up the difference.
    Ya'll boy health bill gonna change all that. Gonna put an end to all those bastards out there makin' money.

    BTW, let's see a link supporting what you just said, because Canada has more loopholes than the US does. Hell, the Canadians can write off friggin property taxes! 'Magine that.

    With that said, I think we should move toward a system where we eliminate corporate taxes entirely. They're very regressive, and they impose double taxation on investors. And as we reduce corporate taxes, we should increase capital gains taxes to make up the difference.
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    Last edited by apdst; 08-10-09 at 11:27 PM.
    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
    Ya'll boy health bill gonna change all that. Gonna put an end to all those bastards out there makin' money.

    BTW, let's see a link supporting what you just said, because Canada has more loopholes than the US does. Hell, the Canadians can write off friggin property taxes! 'Magine that.
    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.

    Quote Originally Posted by apdst
    Tried and failed, my friend; tried and failed. Pull out gun, cock hammer, shoot own foot.
    Reducing/eliminating corporate taxes would make it far easier for both businesses and consumers to operate, and it would eliminate one of the most regressive taxes we have. The tax cut could be revenue-neutral by raising capital gains taxes to the normal income tax rate. However, it's a long term solution; I realize we need to generate all the revenue we can right now.
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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.



    Reducing/eliminating corporate taxes would make it far easier for both businesses and consumers to operate, and it would eliminate one of the most regressive taxes we have. The tax cut could be revenue-neutral by raising capital gains taxes to the normal income tax rate. However, it's a long term solution; I realize we need to generate all the revenue we can right now.
    So, in a word, "no", you can't prove what you're saying? Is that what we're to gather? Of course it is.

    You don't even know what capital gains really are, do you?
    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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