High US corporate tax rate hinders growth, drives jobs overseas

Discussion in 'Politics' started by beretta304, Oct 2, 2012.

  1. beretta304
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    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
     
  2. Matthew
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    Matthew Blue dog all the way!

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

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

    [​IMG]


    Or did you copy/past it from some conservative talking points clearing house...???
     
  4. beretta304
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    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!
     
    Last edited: Oct 2, 2012
  5. Mr Clean
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    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!"
     
  6. Matthew
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    Matthew Blue dog all the way!

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    nuts
     
  7. beretta304
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    He's probably serious. :cool:
     
  8. Truthmatters
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    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
     
  9. Truthmatters
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    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
     
  10. Matthew
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    Matthew Blue dog all the way!

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

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