Corporations don’t need a tax cut, so why is Obama proposing one? The Obama administration is proposing to lower corporate taxes from the current 35 per cent to 28 per cent for most companies and to 25 per cent for manufacturers. The move is supposed to be “revenue neutral” - meaning the administration is also proposing to close assorted corporate tax loopholes to offset the lost revenues. One such loophole allows corporations to park their earnings overseas where taxes are lower. Why isn’t the White House just proposing to close the loopholes without reducing overall corporate tax rates? That would generate more tax revenue that could be used for, say, public schools. Read more

Corporations don’t need a tax cut, so why is Obama proposing one?

The Obama administration is proposing to lower corporate taxes from the current 35 per cent to 28 per cent for most companies and to 25 per cent for manufacturers.

The move is supposed to be “revenue neutral” - meaning the administration is also proposing to close assorted corporate tax loopholes to offset the lost revenues. One such loophole allows corporations to park their earnings overseas where taxes are lower.

Why isn’t the White House just proposing to close the loopholes without reducing overall corporate tax rates? That would generate more tax revenue that could be used for, say, public schools.

Read more

Posted 2 months agoReblog 15 notes
  1. interruptions reblogged this from nixonplumbingco and added:
    relevant issue is...way in which they incorporate. If
  2. heraclitorus reblogged this from interruptions
  3. alsson reblogged this from nixonplumbingco and added:
    It’s true that almost all smaller businesses incorporate in a form that avoids the double taxation of “C” corps. Most...
  4. nixonplumbingco reblogged this from interruptions and added:
    Well if you are talking about small shops, restaurants, etc, then of course they do not become incorporated however when...
  5. dagseoul reblogged this from interruptions
  6. muchtoocynical reblogged this from nixonplumbingco
  7. leftliberty posted this