High US corporate tax rate hinders growth, drives jobs overseas

[beretta304]

An analysis by the Cato Institute ranks the United States fourth among 90 countries for the highest corporate tax rate.


“The U.S. has lagged behind its OECD counterparts when it comes to such tax reform and remains the only developed country with a tax rate over 30 percent and a worldwide system,” the report adds.

Rates this high put U.S. corporations at a competitive disadvantage. U.S. corporations have been forced to look elsewhere to file taxes, a decision based strictly on business bottom line.

A decade ago many companies began to incorporate in Bermuda and the Cayman Islands in order to avoid high taxes. When company Stanley Works announced they would incorporate to Bermuda in 2002, they forecast savings of $30 million.




Read more: Study: US corporate tax rate drives jobs overseas | The Daily Caller

 

[ScienceRocks]

We sure as fuck can't compete with China, Japan, South Korea, Vietnam, India, Europe or anywhere else. We're fucked.

 

[hazlnut]

An analysis by the Cato Institute ranks the United States fourth among 90 countries for the highest corporate tax rate.


“The U.S. has lagged behind its OECD counterparts when it comes to such tax reform and remains the only developed country with a tax rate over 30 percent and a worldwide system,” the report adds.

Rates this high put U.S. corporations at a competitive disadvantage. U.S. corporations have been forced to look elsewhere to file taxes, a decision based strictly on business bottom line.

A decade ago many companies began to incorporate in Bermuda and the Cayman Islands in order to avoid high taxes. When company Stanley Works announced they would incorporate to Bermuda in 2002, they forecast savings of $30 million.




Read more: Study: US corporate tax rate drives jobs overseas | The Daily Caller

More useless drivel from the white trash economists....

Or did you copy/past it from some conservative talking points clearing house...???

 

[beretta304]

An analysis by the Cato Institute ranks the United States fourth among 90 countries for the highest corporate tax rate.


“The U.S. has lagged behind its OECD counterparts when it comes to such tax reform and remains the only developed country with a tax rate over 30 percent and a worldwide system,” the report adds.

Rates this high put U.S. corporations at a competitive disadvantage. U.S. corporations have been forced to look elsewhere to file taxes, a decision based strictly on business bottom line.

A decade ago many companies began to incorporate in Bermuda and the Cayman Islands in order to avoid high taxes. When company Stanley Works announced they would incorporate to Bermuda in 2002, they forecast savings of $30 million.




Read more: Study: US corporate tax rate drives jobs overseas | The Daily Caller

More useless drivel from the white trash economists....

Or did you copy/past it from some conservative talking points clearing house...???

Not smart to post your picture on the net. Once it's there, it's there for life. What were you saying about your contribution here? Oh that's right you weren't since there isn't any because you're a TROLL!

 

[Mr Natural]

American workers make way to much. It's high time for them to come to their senses and learn to accept wages more in line with their overseas counterparts.

"Prosperity Through Lower Wages!"

 

[ScienceRocks]

American workers make way to much. It's high time for them to come to their senses and learn to accept wages more in line with their overseas counterparts.

"Prosperity Through Lower Wages!"

nuts

 

[beretta304]

American workers make way to much. It's high time for them to come to their senses and learn to accept wages more in line with their overseas counterparts.

"Prosperity Through Lower Wages!"

nuts

He's probably serious.

 

[Truthmatters]

the Cato Institute ???????????????????


dear brain dead con.

they are Austrians and the field of economics considers the Austrian school of economics the Short Bus school

 

[Truthmatters]

Austrian School - Wikipedia, the free encyclopedia


Criticisms

[edit] General criticisms

Some economists have argued that Austrians are often averse to the use of mathematics and statistics in economics.[110]

Economist Bryan Caplan argues that Austrians have often misunderstood modern economics, causing them to overstate their differences with it. For example, many Austrians object to the use of cardinal utility in microeconomic theory; however, microeconomic theorists go to great pains to show that their results hold for all strictly monotonic transformations of utility, and so are true for purely ordinal preferences.[111][112] The result is that conclusions about utility preferences hold no matter what values are assigned to them. Austrian economist Jörg Guido Hülsmann responded by arguing that Caplan's criticism is inconsistent.[113]

Economist Paul Krugman has stated that because Austrians do not use "explicit models" they are unaware of holes in their own thinking.[114]

Economist Benjamin Klein has criticized the economic methodological work of Austrian economist Israel M. Kirzner. While praising Kirzner for highlighting shortcomings in traditional methodology, Klein argued that Kirzner did not provide a viable alternative for economic methodology.[115]

Economist Jeffrey Sachs argues that among developed countries, those with high rates of taxation and high social welfare spending perform better on most measures of economic performance compared to countries with low rates of taxation and low social outlays. He concludes that Friedrich Hayek was wrong to argue that high levels of government spending harms an economy, and "a generous social-welfare state is not a road to serfdom but rather to fairness, economic equality and international competitiveness."[116] Austrian economist Sudha Shenoy responded by arguing that countries with large public sectors have grown more slowly

 

[ScienceRocks]

Like spending trillions of dollars on air is a long bus?

 

[Steelplate]

Yeah....I'm sure the labor rates from $.50-1.00/hr have NOTHING to do with it. I'm sure that the fact that our average tariff rate at 1.3% doesn't either.....especially when China charges us up to 35% tariffs on our goods coming into their country. They also recently added a VAT on imports.

So let's recap......First off, you got slave labor and an environment where it's cheaper to use their labor and sell your goods over there to avoid their crazy ass rates, and know that the cost of importing them into America is a measly 1.3%(on average).

Yeah..... it's all about the corporate income tax though....You fuckers are such suckers.

 

[NYcarbineer]

We don't have a VAT tax. Europe and many other places do. That's how they get much of their revenue.

You want to add a VAT tax to our tax structure in exchange for lower corporate taxes?

 

[Steelplate]

We don't have a VAT tax. Europe and many other places do. That's how they get much of their revenue.

You want to add a VAT tax to our tax structure in exchange for lower corporate taxes?

Didn't say us.....I said China just recently added one on imports over and above their already high tariffs.

There's no way we can compete with such a rigged system.....and that's not even mentioning their rigged currency system.

 

[Soggy in NOLA]

American workers make way to much. It's high time for them to come to their senses and learn to accept wages more in line with their overseas counterparts.

"Prosperity Through Lower Wages!"

Uhm, the study was on corporate taxation.... not wages.

Do try and focus, just a bit.

 

[auditor0007]

Yeah....I'm sure the labor rates from $.50-1.00/hr have NOTHING to do with it. I'm sure that the fact that our average tariff rate at 1.3% doesn't either.....especially when China charges us up to 35% tariffs on our goods coming into their country. They also recently added a VAT on imports.

So let's recap......First off, you got slave labor and an environment where it's cheaper to use their labor and sell your goods over there to avoid their crazy ass rates, and know that the cost of importing them into America is a measly 1.3%(on average).

Yeah..... it's all about the corporate income tax though....You fuckers are such suckers.

Our effective corporate tax rate is lower than most other OECD countries, but that never stops them from stating we have the highest tax rates in the world.

 

[NYcarbineer]

We don't have a VAT tax. Europe and many other places do. That's how they get much of their revenue.

You want to add a VAT tax to our tax structure in exchange for lower corporate taxes?

Didn't say us.....I said China just recently added one on imports over and above their already high tariffs.

There's no way we can compete with such a rigged system.....and that's not even mentioning their rigged currency system.

I wasn't contradicting you I was more or less making a point regardless of what had already been said. I do that frequently.

 

[NYcarbineer]

If you cut the effective corporate tax rate in half, you lose half the revenue you're currently getting.

That would mean you have to double corporate taxable income just to get back to where you started, revenue-wise.

 

[Charles_Main]

An analysis by the Cato Institute ranks the United States fourth among 90 countries for the highest corporate tax rate.


“The U.S. has lagged behind its OECD counterparts when it comes to such tax reform and remains the only developed country with a tax rate over 30 percent and a worldwide system,” the report adds.

Rates this high put U.S. corporations at a competitive disadvantage. U.S. corporations have been forced to look elsewhere to file taxes, a decision based strictly on business bottom line.

A decade ago many companies began to incorporate in Bermuda and the Cayman Islands in order to avoid high taxes. When company Stanley Works announced they would incorporate to Bermuda in 2002, they forecast savings of $30 million.




Read more: Study: US corporate tax rate drives jobs overseas | The Daily Caller

as of about 6 weeks ago when Japan Lowered it's Rates. we know have the highest Cooperate Tax Rate in the world. On paper anyways.

If you support that, then you are supporting the out sourcing of Millions of Jobs, and the Hindering of any new Jobs being Brought here.

Way to go.

 

[Charles_Main]

If you cut the effective corporate tax rate in half, you lose half the revenue you're currently getting.

That would mean you have to double corporate taxable income just to get back to where you started, revenue-wise.

Sure, if Cooperation's existed in a Vacuum, and we would not see Growth in the Economy as a result of the Cuts, you would be half right. Besides what good are Revenues from Cooperate Taxes if they come at the Cost of literally millions of US jobs going over seas?

lol

 

[NYcarbineer]

If you cut the effective corporate tax rate in half, you lose half the revenue you're currently getting.

That would mean you have to double corporate taxable income just to get back to where you started, revenue-wise.

Sure, if Cooperation's existed in a Vacuum, and we would not see Growth in the Economy as a result of the Cuts, you would be half right.

lol

I'm still right. You have to get enough growth to make up for half of the corporate tax revenue you had originally.

What if you cut corporate taxes to zero? Can you make that up on volume? lol