Lowering Corporate Tax Rates The Coward’s Way

[brummelben]

As I have explained many times, every time you give a special interest a tax break, someone else has to make up the difference. This is achieved by raising tax rates on everyone. So even the lobby that got the tax break now has a higher tax rate, along with everyone else.

However, if we raised tax rates high enough to pay for the $1.4 trillion of them that are given out each year, the American people would revolt. So tax rates are raised to a barely tolerable level, and then the rest is borrowed.

And that is how we got to $19 trillion in debt and a 39.1% corporate tax rate.

As I have explained many times, if you get rid of all these government gifts to all these special interests, you could substantially lower tax rates. And you get the extra bonus of everyone being on a level playing field. Entities which earn identical incomes would pay identical taxes.

Instead, we have an insane system where entities which earn identical incomes pay radically different taxes.

Enter the House Ways and Means Committee, chaired by Kevin Brady. This committee came up with a plan to do just what I have been saying for years. They came up with a plan to lower the corporate tax rate substantially by getting rid of all those government giveaways.

Their original plan was simple. Get rid of all the special interest deductions, credits, and exemptions.

Guess what? Those special interests are so powerful that this turned out to be impossible. Our Congress is now completely owned, boys and girls, and it is long past time to wake the fuck up to this fact.

You simply must wake up. Anyone who defends $1.4 trillion of thievery is on the wrong side, and yet we are burdened with pseudocons who do just that. They defend deductions, credits, and exemptions which add up to $1.4 trillion.

They have been fed a lie that these tax expenditures mean they get to keep more of their own money. This is a giant lie. A YUGE lie.

As it happened, every time the House Ways and Means committee tried to take away all those special interest tax breaks, the special interests forced them back in. Which then forced the House Ways and Means to raise tax rates back to 39.1%.

Impasse.

So House Ways and Means came up with Plan B: The border adjustment tax. It’s real name is a “destination-based cash flow tax”, but the colloquial term is border adjustment tax.

The border adjustment tax is, very basically, an import tax. Even better, it’s a consumption tax. The corporate tax is a tax on production.

All of our allies have a border adjustment tax. We don’t. We’ve been living on that unlevel playing field forever. Now that House Ways and Means introduced the idea of the US moving to one, our allies are screaming at how unfair it would be for us to have the same kind of import tax they do!

Go figure.

We can get into the pluses and minuses of a border adjustment tax a little later. But for now, here’s how the GOP plan was going to work.

Since the special interests refused to give up their special tax breaks, the GOP decided to leave them in.

Since the special interests want their cake and to eat it, too, they also got the corporate tax rate lowered. To somewhere around 15%.

Because of this, all the lost revenue due to the tax breaks was no longer made up for by the 39.1% tax rate. So House Ways and Means intended to make up the lost revenues with the Border Adjustment Tax.

Enter Trump.

Donald Trump was “ambivalent”, at best, about the Border Adjustment Tax. And now he has decided he is against it.

So bye-bye Border Adjustment Tax.


But…he is keeping the lower corporate tax rate AND all those special interest tax breaks. And that means, boys and girls, a gigantic spurt in national debt if the Trump way comes to pass.


This is a total cop-out. It is the coward’s way out, and every fiscal conservative should be vehemently opposed to this.

An insanely high corporate tax rate that we happen to have now, along with the stupidity of capital gains tax makes for a weak economy… Fact

We don't have an insanely high corporate tax rate. You know dam well that almost no one pays the full tax rate

You uneducated, incompetent, booblet. Do you know what they pay on average? After deductions, they pay 28%, which is number 3 as far as tax rates.

DO YOU WANT TO TRY AGAIN!

Yo, quit bogarting whatever your smoking and pass it this way.

• Profitable corporations paid U.S. income taxes amounting to just 12.6% of worldwide income in 2010.

Fact Sheet: Corporate Tax Rates - Americans For Tax Fairness

Cmon, put up, or shut up!

you don't know shit cum quat

 

[brummelben]

We don't have an insanely high corporate tax rate. You know dam well that almost no one pays the full tax rate

You uneducated, incompetent, booblet. Do you know what they pay on average? After deductions, they pay 28%, which is number 3 as far as tax rates.

DO YOU WANT TO TRY AGAIN!

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

 

[Doc1]

We don't have an insanely high corporate tax rate. You know dam well that almost no one pays the full tax rate

You uneducated, incompetent, booblet. Do you know what they pay on average? After deductions, they pay 28%, which is number 3 as far as tax rates.

DO YOU WANT TO TRY AGAIN!

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

 

[imawhosure]

You uneducated, incompetent, booblet. Do you know what they pay on average? After deductions, they pay 28%, which is number 3 as far as tax rates.

DO YOU WANT TO TRY AGAIN!

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

LOL, you are falling apart. Congrats on your public display of ignorance-) Why post something till I need to. You are Incompetent, irrelevant, and immaterial, until you can prove that you are correct, lol. Keep searching, and then, I will hose you!

 

[imawhosure]

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

LOL, you are falling apart. Congrats on your public display of ignorance-) Why post something till I need to. You are Incompetent, irrelevant, and immaterial, until you can prove that you are correct, lol. Keep searching, and then, I will hose you!

Waiting there stud muffin-)

 

[imawhosure]

You uneducated, incompetent, booblet. Do you know what they pay on average? After deductions, they pay 28%, which is number 3 as far as tax rates.

DO YOU WANT TO TRY AGAIN!

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

 

[Doc1]

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

 

[imawhosure]

You uneducated, incompetent, booblet. Do you know what they pay on average? After deductions, they pay 28%, which is number 3 as far as tax rates.

DO YOU WANT TO TRY AGAIN!

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

 

[Doc1]

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

Apparently you're as dumb as the kid is.

 

[brummelben]

Lying piece of garbage you are.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

 

[imawhosure]

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

See, the left has a narrative that is phony baloney, lol. They can't even back it up! I surrender, lol. You keep on, and I will hose you! You are incompetent, irrelevant, and your words of wisdom are immaterial!

THAT IS HOW YOU HOSE A LEFTY-)

 

[imawhosure]

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

Wanna try again, please do-)

 

[imawhosure]

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

Wanna try again, please do-)

Aw cmon, I want to embarrass you some more, Marxist-)

 

[brummelben]

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

Wanna try again, please do-)

Aw cmon, I want to embarrass you some more, Marxist-)

go for it asshole, you aint got shyte

 

[imawhosure]

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

Wanna try again, please do-)

Aw cmon, I want to embarrass you some more, Marxist-)

Hey maybe you can get the whole bunch of leftists on the board to help you, so as I can hose all of you and finally shut you up once and for all! Quick, pick up your Obama phone and call all your lefty friends, lol!

 

[imawhosure]

you said it asshole, now prove it

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

Wanna try again, please do-)

Aw cmon, I want to embarrass you some more, Marxist-)

go for it asshole, you aint got shyte

You people are PATHETIC, PATHETIC! Go home into your daddy's basement there Padawan, and let us run the country. You are a fool, and so are your friends. You have lost conclusively in the public square, made a fool of yourself, and nothing you can do will save your reputation. YOU ARE DONE!

 

[imawhosure]

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

Apparently you're as dumb as the kid is.

Really? Really! Have you checked, or are you using what you are spoon fed by your handlers-)

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

We are still waiting Marxists-) Make your case, you phony-baloneys-)

 

[brummelben]

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

Apparently you're as dumb as the kid is.

Link, asshole!

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

He will never cite anything, he just makes shit up as he goes.

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

We are still waiting Marxists-) Make your case, you phony-baloneys-)

I owe you nothing honey bunch, now go turn some tricks

 

[imawhosure]

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

Apparently you're as dumb as the kid is.

No need, you were the one who decided to make a statement there lefty. You PROVE IT! I got mine in my favs, lol. Now work lefty, work, or shut up!

you said it asshole, now prove it

waiting for you too hotdog!

Waiting for me to do what? The only claim I've made is that the kid doesn't know anything. You don't seem well suited for this.

Still waiting, you talk a lot, now put up or shut up fellas!

keep waiting asshole

We are still waiting Marxists-) Make your case, you phony-baloneys-)

I owe you nothing honey bunch, now go turn some tricks

Phony-baloney. You got nothing but a bunch of hot air! You lose, but nothing new on that front. Everyone, keep a link to this to PROVE that he is useless, helpless, and hopeless. You now see how to hose a lefty, and this one was dumb as a box of rocks; it was easy, lol! He is, incompetent, irrelevant, and immaterial, lol!

 

[g5000]

Real tax reform would have another benefit. The people who lend money to the government would suddenly have much more faith in our ability to honor our debts, and interest rates would drop, making the interest on our debt easier to manage.

It's win/win.

Whoa, you can stop right there because that is the key.

First, congratulations--pretty rare to see someone talk about "tax expenditures". Even more rare do you find someone that actually understands them. But here is the deal, the people lending money to the government, they are the very same people reaping the benefits of those tax expenditures. Take the big three--payment of medical benefits with pre-tax dollars, the home mortgage interest deduction, and the "step-up", especially the "step-up", listed by the Department of Treasury as "capital gains"--those three alone account for three hundred fifty billion of your 1.7 trillion dollar figure. Rather conservative if you ask me. Steinbrenner's family opted for an estate tax and the step-up. That alone cost the government three hundred million.

https://www.treasury.gov/resource-center/tax-policy/Documents/Tax-Expenditures-FY2016.pdf

The government is required to list tax expenditures within each budget. The above is that required report.

When Reagan took office the wealthy figured out pretty damn quick that it was much better to lend money to the government than pay taxes. Hell, anyone would rather collect interest, and especially when it is considered "risk-free", than PAY taxes. And the most effective way to cut taxes paid by the wealthy is not with some big swooping "rate cut", but with "tax expenditures". Stealthy, confusing, limited, and complicated--damn perfect for those that can afford the "access", rather it be the funds to pay lawyers, accountants, or people like me, or the funds to donate to politicians in order to create some more "tax expenditures".

Yeah, every time I read the list of tax expenditures, my stomach revolts.

Exclusion of interest on owner-occupied mortgage subsidy bonds.

Christ.

Something like one of these a day has been added to the list for almost 20 years now.


It's a $1.4 trillion scam going on right under everyone's noses.

You can see the disgust on Nunes's face when he was talking to CNBC.