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Thread: Recession Ended in June 2009

  1. #41
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    Re: Recession Ended in June 2009

    Quote Originally Posted by ptif219 View Post
    US has 4th highest coporate tax rate in the world and that is not enough.
    Look at the date of your article.

    High Corporate Tax Rate Is Misleading - Investing - Economy - SmartMoney.com

    Second, no one gives a **** about statutory rates. US marginal effective is quite low when you account for the tax loops.
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    Re: Recession Ended in June 2009

    Quote Originally Posted by washunut View Post
    Look at Reno Nev. It has grown into a very large distribution center location. The reason being it is right across from Calif. But materially lower state taxes.
    No, not really. A large distribution center implies that one is shipping vast amount of goods. Easily enough to produce a tax nexus within California. That pretty much negates the argument of lower state taxes. I suspect it has more do with really cheap land, utilities and labor laws rather then state income taxes.
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    Re: Recession Ended in June 2009

    Quote Originally Posted by obvious Child View Post
    No, not really. A large distribution center implies that one is shipping vast amount of goods. Easily enough to produce a tax nexus within California. That pretty much negates the argument of lower state taxes. I suspect it has more do with really cheap land, utilities and labor laws rather then state income taxes.
    It is a combination of all of the above. State taxes is certainly an issue in the equation.

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    Re: Recession Ended in June 2009

    Quote Originally Posted by ptif219 View Post
    As a truck driver I know frieght improved since april. That means we may level off. I believe you will not see hiring until companies know how taxes and helthcare will affect their profits.
    Taxes and healthcare costs are, at best, a trediary factor in hiring. Hiring has everything to do with sustainable demand for a product and expected growth and little to do with anything else.

  5. #45
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    Re: Recession Ended in June 2009

    Quote Originally Posted by ptif219 View Post
    US has 4th highest coporate tax rate in the world and that is not enough. This is why jobs leave and why taxes is something companies have to look at before they hire. Now we have Obamacare. If these expenses cut into the profit they can not hire for the profit will not justify it.

    New Data Show U.S. Has Fourth Highest Corporate Tax Rate

    A new corporate tax survey by KPMG makes clear that this is only the first of many needed business tax reforms in the United States.

    KPMG found that the United States has the fourth highest corporate income tax rate in the 30-nation Organiza-tion for Economic Co-operation and Development.[1] The combined U.S. federal and average state rate of 40 percent is almost 9 percentage points higher than the average OECD top corporate rate of 31.4 percent.[2] Only Belgium, Italy, and Japan have higher rates than that of the United States.
    All nice theory, but few companies actually pay tax at the highest corporate rates. The largest US companies largely offshore their profits (many have moved their HQ to Dubai or Grand Cayman or Bermuda, including KPMG), anyway, and pay almost no tax. In fact, 2 out of every 3 corporations pay NO TAX.

    http://thinkprogress.org/2010/04/06/exxon-tax/ (yes, this is a liberal site)

    That said, I would be in favor of lowering corporate tax rates and eliminating many of the transfer pricing loopholes (in other words, make them pay the tax!)

    http://www.taxresearch.org.uk/Blog/c...rporation-tax/

    http://www.treas.gov/offices/tax-pol...y/subpartf.pdf

    US Corporations are bearing something on the order of 8% of the Federal tax burden today compared to over 30% 30 years ago (cite forthcoming).

    You want personal tax relief? Close corporate loopholes.
    Last edited by upsideguy; 09-22-10 at 11:26 AM.

  6. #46
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    Re: Recession Ended in June 2009

    Quote Originally Posted by ptif219 View Post
    Do you agree?
    Not based upon my own business, certainly. 2007 was great, there was a big drop off in 08, and 10 has been about the same as 08 and 09.
    "you're better off on Stormfront discussing how evil brown men are taking innocent white flowers." Infinite Chaos

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    Re: Recession Ended in June 2009

    Quote Originally Posted by ptif219 View Post
    US has 4th highest coporate tax rate in the world and that is not enough. This is why jobs leave and why taxes is something companies have to look at before they hire. Now we have Obamacare. If these expenses cut into the profit they can not hire for the profit will not justify it.

    New Data Show U.S. Has Fourth Highest Corporate Tax Rate

    A new corporate tax survey by KPMG makes clear that this is only the first of many needed business tax reforms in the United States.

    KPMG found that the United States has the fourth highest corporate income tax rate in the 30-nation Organiza-tion for Economic Co-operation and Development.[1] The combined U.S. federal and average state rate of 40 percent is almost 9 percentage points higher than the average OECD top corporate rate of 31.4 percent.[2] Only Belgium, Italy, and Japan have higher rates than that of the United States.
    Someone already pointed out the date. But no matter where they rank, that doesn't automatically prove that was the reason for them leaving. Again, one state did away with taxes all together. So, why did they leave?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Recession Ended in June 2009

    Quote Originally Posted by Boo Radley View Post
    Again, one state did away with taxes all together. So, why did they leave?
    Which state would that be again that just recently eliminated corporate income taxes and all the businesses fled?

    Additionally, you seem to think that we are arguing that the only thing businesses are going to look at is the corporate income tax rate they will pay. That is not what we are saying. Tax rate is only one item, and not an unimportant one, that a business will look at.

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    Re: Recession Ended in June 2009

    Quote Originally Posted by buck View Post
    Which state would that be again that just recently eliminated corporate income taxes and all the businesses fled?

    Additionally, you seem to think that we are arguing that the only thing businesses are going to look at is the corporate income tax rate they will pay. That is not what we are saying. Tax rate is only one item, and not an unimportant one, that a business will look at.
    I think it was New Mexico, and it wasn't recent.

    As for other factors, exactly. Wage and healthcare, as I said, are far larger factors. But taxes, as can be treaced historically, have not played a large role at all.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Recession Ended in June 2009

    Quote Originally Posted by Boo Radley View Post
    I think it was New Mexico, and it wasn't recent.
    Care to try again? New Mexico still has corporate income taxes. Do you mean that the personal income tax was lowered?

    As for other factors, exactly. Wage and healthcare, as I said, are far larger factors. But taxes, as can be treaced historically, have not played a large role at all.
    Really? You do realize that governors/mayors will often use tax breaks to lure a corporation to their city/state. Cities/States will also use tax breaks to keep corporations from leaving their state.
    Last edited by buck; 09-22-10 at 03:13 PM.

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