Optimum Federal Corporate Tax Rate

[Ernie S.]

So the CEO pays $100,000 in taxes.

The Worker pays about $24,000 in taxes.

Yet you claim the CEO is not paying his fair share??

So how does that math work, no not in percentages of income, wrong comparison.

Want try again??

Why isn't percentage of income the "right" comparison?

Why is it? What does the CEO get for 100K that the employee doesn't get for 24K?
Should the price of milk be based on income too?
I could almost go for a progressive tax system if taxes paid were like shares in a corporation. Let's say each $100 you pay in taxes gets you 1 voting share. How's that for fair?

 

[Toddsterpatriot]

The same thing applies to personal income taxes, too.

My cousin owns his own business, doing the same thing I do (consulting on political campaigns). He's a bit younger than me, and just getting started, but caught a job working on city council campaign as a private contractor. He made about $60,000 for 8 months of work - and ended up paying almost 40% of it in taxes.

On the other hand, a CEO making $10 million a year will end up paying around 10%.

The problem isn't that taxes are too high, it's that the biggest burden is on the wrong people.

On the other hand, a CEO making $10 million a year will end up paying around 10%.

That's an interesting claim. Why is the rate so low for the CEO?

Because the more money you have, the better accountants you can hire, the more shelters in which to hide your money, the more deductions you can take, and the more money you can hide as "investments".

You're talking about salary, not investments. So how is the rate 10%?

I'm talking about income, not salary.

Fine. How does the CEO pay 10% on his $10,000,000 income.

 

[Toddsterpatriot]

Personally, I'd get rid of the loop holes and make it around 28%.

Which specific loopholes would you get rid of?

 

[Ernie S.]

Personally, I'd get rid of the loop holes and make it around 28%.

Which specific loopholes would you get rid of?

He'd tax on gross to support infrastructure, education, science and space exploration. Matt is a one trick pony.

 

[Toddsterpatriot]

Personally, I'd get rid of the loop holes and make it around 28%.

Which specific loopholes would you get rid of?

He'd tax on gross to support infrastructure, education, science and space exploration. Matt is a one trick pony.

He's one stupid pony.

 

[Ernie S.]

Not stupid. Indoctrinated.

 

[DrDoomNGloom]

TDII I noticed you still haven't given me any answers to any before asked questionos??

I mean, I know you are a a mod, so ignore is out of the question.

You silence screams you are either afraid of me or know your bull shit want fly.

Le me ask in above example using facts, why did you skew the tax rates both parties pay?

A Few Assumptions

• For these calculations, assume that the $1 million is your salary from a regular job, and that it's your only income. Assume for now that you're single, you have no dependents, you will have no adjustments to your income, you will take the standard tax deduction and you will claim no tax credits. You're just a regular taxpayer who punches a clock for, oh, about $480 an hour.

Social Security and Medicare

• Since this is income from work, you have to pay Social Security and Medicare taxes on it. As of 2015, the Social Security tax rate was 6.2 percent of all wages up to $118,500. That's $7,347. The Medicare tax was 1.45 percent of all wages. On a $1 million salary, that's $14,500. Finally, all wages over $200,000 are subject to the Additional Medicare Tax of 0.9 percent. You have to pay this tax on $800,000 worth of income, which comes out to $7,200. Total tax for Social Security and Medicare: $29,047.

Federal Income Tax

• For federal taxes, the standard deduction as of 2015 was $6,300. That drops your taxable income from $1 million to $993,700. You don't get a personal exemption, however, since your income is too high. As of 2015, the federal income tax had seven marginal rates, or brackets: 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent and 39.6 percent. Different portions of your income are taxed at different rates. In 2015, for example, the first $9,225 of a single person's income was taxed at 10 percent, the next $28,225 was taxed at 15 percent, and so on up to 39.6 percent on everything over $413,200. Sparing you the math, your federal income tax on $993,700 comes out to $349,953.45.

Read more : What Are Taxes on 1 Million Dollars eHow


Your BIL who is over paid will only pay about $8218.75 ...............
60000 Federal Tax Calculator 2015 2016 2015 Tax Refund Calculator

By the way that is only about 7% not the 40% you would like to lead the ignorant to believe.

That seems to be a hell of a difference,

The CEO pays $977,262.5

You are so fond of numbers the CEO pays 119 times what your BIL does but that is not enough for you??

Like I asked before, when you look at it in the proper perspective, intelligent math vs bull shit math, you argument makes you look extremely greedy and lusting after others money.

You come out here and start a topic, when pressed on it you remain silent.

Is there something you would like to say in your defense??

I mean you make a statement and then when called on it and rebutted you go hide ....................

Is any of that not true??

 

[Truth2Know]

While individual tax rates and what constitutes a "fair" tax is an interesting question, it is not what I posed.

The question at hand is about the taxes companies pay. Revenue from companies to the Federal government account for only 11% of all revenue. Does it make sense to drastically reduce (maybe to zero) the corporate tax rate (the effective corporate tax rate is about 27%) to make U.S. companies more competitive in the world marketplace and create more jobs here? Tax revenue lost from corporations could be more than made up through personal income and social insurance taxes if some economist was smart enough to pick the optimum corporate tax rate. Say, what's Jonathan Gruber doing now that the Obamacare exchanges are doing so well?

 

[DrDoomNGloom]

Considering with the high tax rates companies have already taken steps to offshore profits.

So effectively we get nothing, no jobs or taxes.

So would not a smaller, less stringent tax insure at least some tax flows in??

The damage is already done, you act like if they drop the tax rates everyone will flood back in.

Why as a company would I do that, Comcast has teaser rates for 6 months, who is to say the next president isn't another corporate hater who would go after my corporations money.

No now that America has shown it's true colors, cost me the expense to move away from the over taxation, and am happy where I am now, why in the world would I ever want to move back to this shit hole of a country??

What would be in it for me or my company, come back so we can take more from you .......................

Does any of this make sense to you??

 

[Ernie S.]

While individual tax rates and what constitutes a "fair" tax is an interesting question, it is not what I posed.

The question at hand is about the taxes companies pay. Revenue from companies to the Federal government account for only 11% of all revenue. Does it make sense to drastically reduce (maybe to zero) the corporate tax rate (the effective corporate tax rate is about 27%) to make U.S. companies more competitive in the world marketplace and create more jobs here? Tax revenue lost from corporations could be more than made up through personal income and social insurance taxes if some economist was smart enough to pick the optimum corporate tax rate. Say, what's Jonathan Gruber doing now that the Obamacare exchanges are doing so well?

In a word? Yes, as I said earlier.

 

[Ernie S.]

Considering with the high tax rates companies have already taken steps to offshore profits.

So effectively we get nothing, no jobs or taxes.

So would not a smaller, less stringent tax insure at least some tax flows in??

The damage is already done, you act like if they drop the tax rates everyone will flood back in.

Why as a company would I do that, Comcast has teaser rates for 6 months, who is to say the next president isn't another corporate hater who would go after my corporations money.

No now that America has shown it's true colors, cost me the expense to move away from the over taxation, and am happy where I am now, why in the world would I ever want to move back to this shit hole of a country??

What would be in it for me or my company, come back so we can take more from you .......................

Does any of this make sense to you??

Why would corporations come back? The easy answer is profits

Let's say I make widgets. In the US, I have to pay an average of 5 dollars in labor 10 dollars in material and 4 dollars in taxes to make my widgets that then cost me another 3 dollars to ship back to the states so I can sell them here. If I can save 7 bucks between shipping and taxes, I can keep my margin and increase profit by moving jobs here. In addition, I get the good will by bringing back jobs.

 

[EdwardBaiamonte]

Considering with the high tax rates companies have already taken steps to offshore profits.

So effectively we get nothing, no jobs or taxes.

So would not a smaller, less stringent tax insure at least some tax flows in??

The damage is already done, you act like if they drop the tax rates everyone will flood back in.

Why as a company would I do that, Comcast has teaser rates for 6 months, who is to say the next president isn't another corporate hater who would go after my corporations money.

No now that America has shown it's true colors, cost me the expense to move away from the over taxation, and am happy where I am now, why in the world would I ever want to move back to this shit hole of a country??

What would be in it for me or my company, come back so we can take more from you .......................

Does any of this make sense to you??

Why would corporations come back? The easy answer is profits

Let's say I make widgets. In the US, I have to pay an average of 5 dollars in labor 10 dollars in material and 4 dollars in taxes to make my widgets that then cost me another 3 dollars to ship back to the states so I can sell them here. If I can save 7 bucks between shipping and taxes, I can keep my margin and increase profit by moving jobs here. In addition, I get the good will by bringing back jobs.

true enough, millions of companies are still here. Eliminate the liberal corporate tax and they will have a huge incentive to stay here while many of those who left will have an huge incentive to come home.
Liberals are so stupid they encourage our companies to leave! Being Marxist anti business is more important to them than losing 30 million jobs to China.

And liberals are lucky, the 30 million workers who lost their jobs to
the liberal tax are too stupid to know what happened and so continue to block vote for liberals.

 

[Ernie S.]

Considering with the high tax rates companies have already taken steps to offshore profits.

So effectively we get nothing, no jobs or taxes.

So would not a smaller, less stringent tax insure at least some tax flows in??

The damage is already done, you act like if they drop the tax rates everyone will flood back in.

Why as a company would I do that, Comcast has teaser rates for 6 months, who is to say the next president isn't another corporate hater who would go after my corporations money.

No now that America has shown it's true colors, cost me the expense to move away from the over taxation, and am happy where I am now, why in the world would I ever want to move back to this shit hole of a country??

What would be in it for me or my company, come back so we can take more from you .......................

Does any of this make sense to you??

Why would corporations come back? The easy answer is profits

Let's say I make widgets. In the US, I have to pay an average of 5 dollars in labor 10 dollars in material and 4 dollars in taxes to make my widgets that then cost me another 3 dollars to ship back to the states so I can sell them here. If I can save 7 bucks between shipping and taxes, I can keep my margin and increase profit by moving jobs here. In addition, I get the good will by bringing back jobs.

true enough, millions of companies are still here. Eliminate the liberal corporate tax and they will have a huge incentive to stay here while many of those who left will have an huge incentive to come home.
Liberals are so stupid they encourage our companies to leave! Being Marxist anti business is more important to them than losing 30 million jobs to China.

And liberals are lucky, the 30 million workers who lost their jobs to
the liberal tax are too stupid to know what happened and so continue to block vote for liberals.

Liberals are for labor, donchaknow......
And they CONTINUE to buy that shit.

 

[EdwardBaiamonte]

Considering with the high tax rates companies have already taken steps to offshore profits.

So effectively we get nothing, no jobs or taxes.

So would not a smaller, less stringent tax insure at least some tax flows in??

The damage is already done, you act like if they drop the tax rates everyone will flood back in.

Why as a company would I do that, Comcast has teaser rates for 6 months, who is to say the next president isn't another corporate hater who would go after my corporations money.

No now that America has shown it's true colors, cost me the expense to move away from the over taxation, and am happy where I am now, why in the world would I ever want to move back to this shit hole of a country??

What would be in it for me or my company, come back so we can take more from you .......................

Does any of this make sense to you??

Why would corporations come back? The easy answer is profits

Let's say I make widgets. In the US, I have to pay an average of 5 dollars in labor 10 dollars in material and 4 dollars in taxes to make my widgets that then cost me another 3 dollars to ship back to the states so I can sell them here. If I can save 7 bucks between shipping and taxes, I can keep my margin and increase profit by moving jobs here. In addition, I get the good will by bringing back jobs.

true enough, millions of companies are still here. Eliminate the liberal corporate tax and they will have a huge incentive to stay here while many of those who left will have an huge incentive to come home.
Liberals are so stupid they encourage our companies to leave! Being Marxist anti business is more important to them than losing 30 million jobs to China.

And liberals are lucky, the 30 million workers who lost their jobs to
the liberal tax are too stupid to know what happened and so continue to block vote for liberals.

Liberals are for labor, donchaknow......
And they CONTINUE to buy that shit.

yes liberals are for labor, just not for the 30 million whose jobs were shipped to China by their liberal corporate taxes.

 

[Ernie S.]

Considering with the high tax rates companies have already taken steps to offshore profits.

So effectively we get nothing, no jobs or taxes.

So would not a smaller, less stringent tax insure at least some tax flows in??

The damage is already done, you act like if they drop the tax rates everyone will flood back in.

Why as a company would I do that, Comcast has teaser rates for 6 months, who is to say the next president isn't another corporate hater who would go after my corporations money.

No now that America has shown it's true colors, cost me the expense to move away from the over taxation, and am happy where I am now, why in the world would I ever want to move back to this shit hole of a country??

What would be in it for me or my company, come back so we can take more from you .......................

Does any of this make sense to you??

Why would corporations come back? The easy answer is profits

Let's say I make widgets. In the US, I have to pay an average of 5 dollars in labor 10 dollars in material and 4 dollars in taxes to make my widgets that then cost me another 3 dollars to ship back to the states so I can sell them here. If I can save 7 bucks between shipping and taxes, I can keep my margin and increase profit by moving jobs here. In addition, I get the good will by bringing back jobs.

true enough, millions of companies are still here. Eliminate the liberal corporate tax and they will have a huge incentive to stay here while many of those who left will have an huge incentive to come home.
Liberals are so stupid they encourage our companies to leave! Being Marxist anti business is more important to them than losing 30 million jobs to China.

And liberals are lucky, the 30 million workers who lost their jobs to
the liberal tax are too stupid to know what happened and so continue to block vote for liberals.

Liberals are for labor, donchaknow......
And they CONTINUE to buy that shit.

yes liberals are for labor, just not for the 30 million whose jobs were shipped to China by their liberal corporate taxes.

They're for UNIONS, as long as they continue supporting their campaigns. They tax and regulate the crap out of corporations, more or less forcing them to send jobs off shore and blame Republicans. It's a great racket as long as the sheep don't figure it out.