Just Say No To The Border Tax

[expat_panama]

Just Say No To The Border Tax


Corporate Taxes: Nobody knows for sure whether President Trump supports a "border adjustment tax." That's fitting, since nobody really knows what this tax would do to the economy.

Trump has been hot and cold about the border adjustment tax. On Thursday, he told Reuters that he thought the tax "could lead to a lot more jobs in the United States." On Friday, Trump's top economic advisor reportedly said it was a nonstarter...


...The plan would swap the current 35% corporate income tax for a 20% consumption tax — or in policy-geek-speak "a destination-based cash flow tax." Because exports are consumed abroad, they'd be exempt from the tax. Imports, however, would face a 20% "border adjustment tax."...


...an untested and potentially harmful overhaul of the tax code. All we need to do is follow the lead of our big trading partners: Sharply lower the corporate income tax rate and eliminate loopholes to broaden the base. The foreign earnings problems can be solved by "territorial" tax — which all but six OECD countries have adopted and which exempts foreign earnings from domestic taxes.

 

[JakeStarkey]

Tax foreign earnings at the same rate as domestic taxes.

Drop the corporate and personal income taxes drastically.

Eliminate corporate tax loopholes.

 

[Toddsterpatriot]

Tax foreign earnings at the same rate as domestic taxes.

Drop the corporate and personal income taxes drastically.

Eliminate corporate tax loopholes.

Eliminate corporate tax loopholes.

Any specifics?

 

[william the wie]

The raising of the debt ceiling provides a Christmas tree just begging for ornaments.

 

[expat_panama]

...Eliminate corporate tax loopholes.

...Any specifics?

I've heard a lot of folks who say that there are too many "corporate tax loopholes" and are unable to name two. imho that's a crock. Maybe I could make it easier by naming one first; namely, the exemptions to the obamacare tax that were doled out to democrat cronies a few years ago. Of course that gets eliminated anyway when Ocare's repealed.

So if Ocare exemptions the only one we got then we'll have to all agree that there are no "loopholes" [plural].

 

[william the wie]

The latest explanation I've heard is that this is going to be a corporate only VAT. I have no idea how many different stories I have heard on BAT but if this latest iteration is so then the used equipment that has been sold here will end up being sold in Africa.

 

[EdwardBaiamonte]

Just Say No To The Border Tax


Corporate Taxes: Nobody knows for sure whether President Trump supports a "border adjustment tax." That's fitting, since nobody really knows what this tax would do to the economy.

Trump has been hot and cold about the border adjustment tax. On Thursday, he told Reuters that he thought the tax "could lead to a lot more jobs in the United States." On Friday, Trump's top economic advisor reportedly said it was a nonstarter...


...The plan would swap the current 35% corporate income tax for a 20% consumption tax — or in policy-geek-speak "a destination-based cash flow tax." Because exports are consumed abroad, they'd be exempt from the tax. Imports, however, would face a 20% "border adjustment tax."...


...an untested and potentially harmful overhaul of the tax code. All we need to do is follow the lead of our big trading partners: Sharply lower the corporate income tax rate and eliminate loopholes to broaden the base. The foreign earnings problems can be solved by "territorial" tax — which all but six OECD countries have adopted and which exempts foreign earnings from domestic taxes.

best policy is to eliminate corporate tax altogether since consumers pay , not corporations,and since it is hugely distracting to our corporations which need to focus on beating the competition not our liberal govt.

 

[expat_panama]

...eliminate corporate tax altogether since consumers pay , not corporations...

Actually corps do pay part depending on how elastic the product demand is (Tax Incidence: How the Tax Burden is Shared Between Buyers and Sellers). So let's be clear: corporations are people --like, if they weren't then if a corp evaded the tax then nobody would go to jail.

You're right, we can eliminate the corp tax altogether, that way when the left wants more taxes they can just be more honest about it and tax people directly.

 

[yiostheoy]

Just Say No To The Border Tax


Corporate Taxes: Nobody knows for sure whether President Trump supports a "border adjustment tax." That's fitting, since nobody really knows what this tax would do to the economy.

Trump has been hot and cold about the border adjustment tax. On Thursday, he told Reuters that he thought the tax "could lead to a lot more jobs in the United States." On Friday, Trump's top economic advisor reportedly said it was a nonstarter...


...The plan would swap the current 35% corporate income tax for a 20% consumption tax — or in policy-geek-speak "a destination-based cash flow tax." Because exports are consumed abroad, they'd be exempt from the tax. Imports, however, would face a 20% "border adjustment tax."...


...an untested and potentially harmful overhaul of the tax code. All we need to do is follow the lead of our big trading partners: Sharply lower the corporate income tax rate and eliminate loopholes to broaden the base. The foreign earnings problems can be solved by "territorial" tax — which all but six OECD countries have adopted and which exempts foreign earnings from domestic taxes.

That's not what I heard is being considered.

What I heard is that the Federal corporate tax mechanism would be used, and all imports and their costs would become nondeductible while their corporate revenues would continue to be fully taxable.

 

[EdwardBaiamonte]

]Actually corps do pay part depending on how elastic the product demand is.

I really doubt it since we're not talking about individual products but rather all products or all corporations in general. The tax cost affects all corporations equally in theory and is reflected in the prices they charge the way any cost would be. Its something like the cost of energy. It would change the supply curve differently for each corp and each product within each corp but it would be mostly incalculable and irrelevant to the basic goofiness of the liberal corporate tax which fraudulently pretends to make corporations "pay their fair share" in order to pander to the pure ignorance of liberals.

 

[EdwardBaiamonte]

You're right, we can eliminate the corp tax altogether, that way when the left wants more taxes they can just be more honest about it and tax people directly.

Yes!! the left does not want to be honest. It has 1001 different taxes so no one knows what they are paying.

 

[william the wie]

I just wish Ryan and McConnel would come out with a simple definition what they are shooting for before they attach it as a rider to raising the debt limit.

 

[EdwardBaiamonte]

I just wish Ryan and McConnel would come out with a simple definition what they are shooting for before they attach it as a rider to raising the debt limit.

sadly its very difficult when there is so much disagreement

 

[william the wie]

I hope all members of congress have a one toilet bathroom each other wise they will end up with many childish accidents while trying to find their right mind and learn how to make it up.

 

[Toro]

I'm hearing that the border adjustment tax has no more than a 30% chance of happening, and a tariff even less.

There is heavy, heavy lobbying against the tax.

 

[william the wie]

I'm hearing that the border adjustment tax has no more than a 30% chance of happening, and a tariff even less.

There is heavy, heavy lobbying against the tax.

As it has been sold I'm sure you are right. Amend the title to say corporate VAT and double the rate for tax inversions and other forms of exporting jobs and this baby will be on the debt ceiling vote after it comes out of committee. But it will be amended again in trade deals with Canada and the UK.

 

[expat_panama]

]Actually corps do pay part depending on how elastic the product demand is.

..I really doubt it since we're not talking about individual products but rather all products or all corporations in general. The tax cost affects all corporations equally in theory and is reflected in the prices they charge the way any cost would be. Its something like the cost of energy....

We need to understand together what elastic and inelastic demand is:

Examples of elastic goods are coffee, airline tickets and stocks. Examples of inelastic goods are water, electricity, and telephone service. The elasticity of a good is the sensitivity of its demand to changes in its price.

What are examples of elastic and inelastic goods? | Reference.com​

So energy dealers could pass the extra cost on to costumers while coffee and stock dealers would have to eat the cost hikes.

 

[william the wie]

]Actually corps do pay part depending on how elastic the product demand is.

..I really doubt it since we're not talking about individual products but rather all products or all corporations in general. The tax cost affects all corporations equally in theory and is reflected in the prices they charge the way any cost would be. Its something like the cost of energy....

We need to understand together what elastic and inelastic demand is:

Examples of elastic goods are coffee, airline tickets and stocks. Examples of inelastic goods are water, electricity, and telephone service. The elasticity of a good is the sensitivity of its demand to changes in its price.

What are examples of elastic and inelastic goods? | Reference.com​

So energy dealers could pass the extra cost on to costumers while coffee and stock dealers would have to eat the cost hikes.

]Actually corps do pay part depending on how elastic the product demand is.

..I really doubt it since we're not talking about individual products but rather all products or all corporations in general. The tax cost affects all corporations equally in theory and is reflected in the prices they charge the way any cost would be. Its something like the cost of energy....

We need to understand together what elastic and inelastic demand is:

Examples of elastic goods are coffee, airline tickets and stocks. Examples of inelastic goods are water, electricity, and telephone service. The elasticity of a good is the sensitivity of its demand to changes in its price.

What are examples of elastic and inelastic goods? | Reference.com​

So energy dealers could pass the extra cost on to costumers while coffee and stock dealers would have to eat the cost hikes.

]Actually corps do pay part depending on how elastic the product demand is.

..I really doubt it since we're not talking about individual products but rather all products or all corporations in general. The tax cost affects all corporations equally in theory and is reflected in the prices they charge the way any cost would be. Its something like the cost of energy....

We need to understand together what elastic and inelastic demand is:

Examples of elastic goods are coffee, airline tickets and stocks. Examples of inelastic goods are water, electricity, and telephone service. The elasticity of a good is the sensitivity of its demand to changes in its price.

What are examples of elastic and inelastic goods? | Reference.com​

So energy dealers could pass the extra cost on to costumers while coffee and stock dealers would have to eat the cost hikes.

]Actually corps do pay part depending on how elastic the product demand is.

..I really doubt it since we're not talking about individual products but rather all products or all corporations in general. The tax cost affects all corporations equally in theory and is reflected in the prices they charge the way any cost would be. Its something like the cost of energy....

We need to understand together what elastic and inelastic demand is:

Examples of elastic goods are coffee, airline tickets and stocks. Examples of inelastic goods are water, electricity, and telephone service. The elasticity of a good is the sensitivity of its demand to changes in its price.

What are examples of elastic and inelastic goods? | Reference.com​

So energy dealers could pass the extra cost on to costumers while coffee and stock dealers would have to eat the cost hikes.

Trivago and Lending Tree are even better examples of elasticity.