What a 15% corporate federal tax rate would mean...at the minimum $55 billion additional Taxes!

[healthmyths]

 

[The Derp]

The average effective tax rate for corporations is about 12.5%. So if you're keeping all the deductions and loopholes, as this plan does, how are you increasing revenues by lowering the tax rate? Magic trickle-down? Come on. We've been through this already.

 

[The Derp]

We also already did a tax repatriation during Bush the Dumber. The result? Job loss and revenue loss.

 

[g5000]

You are never going to see a 15% corporate tax rate.

And here's why: "If people wanted to drop the corporate rate from 35 to say 33, 32, maybe 30, we could probably do it. But if you go back to several years that we looked at doing just that, the goal was to get to 25 percent, and by the time every lobbyist, every special interest group in town, representing every major corporation in this country, the tax rate was automatically all the way back above 30 by the time you put everybody's special loophole in."

 

[Bootney Lee Farnsworth]

We also already did a tax repatriation during Bush the Dumber. The result? Job loss and revenue loss.

Ummm....there was also 9/11 and the housing bubble crash. Not saying you're wrong, but you must also consider these other factors.

 

[The Derp]

Ummm....there was also 9/11 and the housing bubble crash. Not saying you're wrong, but you must also consider these other factors.

So...some facts:

1. 9/11 was in 2001, and all the losses from 9/11 were regained by November of 2001 (including the stock market). In fact, 2001 -despite 9/11 and the mild recession- still had positive GDP growth.

2. The Bush the Dumber tax repatriation was in 2004, three years after 9/11 and three years before the mortgage bubble popped.

3. The mortgage bubble popped in mid-late 2007, which caused the recession in 2008.

 

[williepete]

Libs would rather have 35% of zero than 15% of billions.

 

[The Derp]

Libs would rather have 35% of zero than 15% of billions.

You only pay taxes on income, so WTF are you talking about?

 

[Bootney Lee Farnsworth]

Ummm....there was also 9/11 and the housing bubble crash. Not saying you're wrong, but you must also consider these other factors.

So...some facts:

1. 9/11 was in 2001, and all the losses from 9/11 were regained by November of 2001 (including the stock market). In fact, 2001 -despite 9/11 and the mild recession- still had positive GDP growth.

2. The Bush the Dumber tax repatriation was in 2004, three years after 9/11 and three years before the mortgage bubble popped.

3. The mortgage bubble popped in mid-late 2007, which caused the recession in 2008.

So, to what job loss figures are you referring? Because, I remember having pretty solid growth from 2003 to the bubble crash.

 

[The Derp]

So, to what job loss figures are you referring? Because, I remember having pretty solid growth from 2003 to the bubble crash.

Read the WSJ article I linked to.

WASHINGTON -- The 15 companies that benefited the most from a 2004 tax break for the return of their overseas profits cut more than 20,000 net jobs and decreased the pace of their research spending, according to report from the Democratic staff of the Senate Permanent Subcommittee on Investigations released Monday night.
​

Also, Bush's job growth was attributed 100% to the mortgage bubble, which he also inflated by having his regulators back off the standards for subprime lending beginning in 2004 and extending into 2007. So Bush purposefully and deliberately inflated a housing bubble in order to give the illusion that the economy was growing as a result of tax policy when it wasn't, just in time to remove it as a campaign issue during the 2004 election.

And one more thing; Conservatives blame Clinton for the housing bubble which means Bush and Co. do not get any credit for the job creation and temporary economic growth. If you're going to blame Clinton for the housing bubble, then you must also give him credit for the gains from that bubble.

And finally, there's this...Bush's economy wasn't built on fundamentally sound principles. It was built on debt. Without people using their homes as ATMs, Bush's economy was much weaker than advertised by Conservative defenders:

 

[healthmyths]

Ummm....there was also 9/11 and the housing bubble crash. Not saying you're wrong, but you must also consider these other factors.

So...some facts:

1. 9/11 was in 2001, and all the losses from 9/11 were regained by November of 2001 (including the stock market). In fact, 2001 -despite 9/11 and the mild recession- still had positive GDP growth.

2. The Bush the Dumber tax repatriation was in 2004, three years after 9/11 and three years before the mortgage bubble popped.

3. The mortgage bubble popped in mid-late 2007, which caused the recession in 2008.

FACTS about GWB... Which only idiots like you refute! THIS IS REALTY!
NOW using the above FACTS... summation for your ignorance!
1) There were $8 trillion in dot.com losses
2) A recession started under Clinton officially began 3/01
3) 9/11 cost million of jobs, billions of dollars
4) Anthrax attacks caused a lot of angst, questions about mail 5 deaths!
5) WORST Hurricane SEASONs not just hurricanes BUT years of hurricanes causing nearly a Trillion in damages, lost businesses, jobs and lives!
6)Something you idiots NEVER seem to recognize the economic terrorist attack of 9/18/08 which would have collapsed the WORLD's economies!
7)In SPITE of all the above: FACTS.. After tax cuts in response to dot.com/recession/9/11 FEDERAL REVENUES INCREASED SEE below table!

 

[healthmyths]

So, to what job loss figures are you referring? Because, I remember having pretty solid growth from 2003 to the bubble crash.

Read the WSJ article I linked to.

WASHINGTON -- The 15 companies that benefited the most from a 2004 tax break for the return of their overseas profits cut more than 20,000 net jobs and decreased the pace of their research spending, according to report from the Democratic staff of the Senate Permanent Subcommittee on Investigations released Monday night.
​

Also, Bush's job growth was attributed 100% to the mortgage bubble, which he also inflated by having his regulators back off the standards for subprime lending beginning in 2004 and extending into 2007. So Bush purposefully and deliberately inflated a housing bubble in order to give the illusion that the economy was growing as a result of tax policy when it wasn't, just in time to remove it as a campaign issue during the 2004 election.

And one more thing; Conservatives blame Clinton for the housing bubble which means Bush and Co. do not get any credit for the job creation and temporary economic growth. If you're going to blame Clinton for the housing bubble, then you must also give him credit for the gains from that bubble.

And finally, there's this...Bush's economy wasn't built on fundamentally sound principles. It was built on debt. Without people using their homes as ATMs, Bush's economy was much weaker than advertised by Conservative defenders:

NO FACTS... and a BLOG calculation????? How phony. DEAL with FACTS!

 

[healthmyths]

Ummm....there was also 9/11 and the housing bubble crash. Not saying you're wrong, but you must also consider these other factors.

So...some facts:

1. 9/11 was in 2001, and all the losses from 9/11 were regained by November of 2001 (including the stock market). In fact, 2001 -despite 9/11 and the mild recession- still had positive GDP growth.

2. The Bush the Dumber tax repatriation was in 2004, three years after 9/11 and three years before the mortgage bubble popped.

3. The mortgage bubble popped in mid-late 2007, which caused the recession in 2008.

All the losses from 9/11 regained??? ARE YOU that f...king DUMB???
YOU don't rebuild 18,000 businesses in 2 months!
It took over a dozen years to rebuild the WTC and it was less then the original 7 buildings destroyed. GEEZ LOSSES regained by 11/01?
THAT one comment totally disqualifies ANY Thing else you write because it PROVES you don't do any research. YOU guess! Idiots like you are so f...king LAZY!
Do some research!

 

[The Derp]

NO FACTS... and a BLOG calculation????? How phony. DEAL with FACTS!

Those aren't facts, they're excuses. Furthermore, Calculated Risk is a legitimate, reputable source. Without people using their homes as ATMs, Bush's economy was in the toilet.

 

[AntonToo]

1) There were $8 trillion in dot.com losses

Obvious bullshit.

Got source?

 

[The Derp]

All the losses from 9/11 regained??? ARE YOU that f...king DUMB???

Are you!?!?!? I'm referring to the stock market.

On 9/17/2001, the market was at 9,580. It would drop down to 8,242 by 9/24/2001. It would go to 9,584 by 11/7/2001.

So the losses on 9/11 were regained less than two months later. Also, GDP growth for 2001 -even with 9/11 and the mild recession- was still positive.

YOU don't rebuild 18,000 businesses in 2 months!

18,000 businesses? Huh? WTF are you talking about? How do you measure "rebuilt"? Physical rebuilding? Those businesses relocated out of the WTC to other parts of Manhattan. They weren't destroyed, they were still very operational. Cantor Fitzgerald, for example, bore a lot of losses in personnel on 9/11, yet the company was still in operation. So what "losses" are you referring to?

It took over a dozen years to rebuild the WTC and it was less then the original 7 buildings destroyed. GEEZ LOSSES regained by 11/01?

Just because the towers were brought down didn't mean the businesses in those towers suddenly disappeared. They relocated to other parts of Manhattan or New Jersey as they waited for the physical buildings to be constructed.

THAT one comment totally disqualifies ANY Thing else you write because it PROVES you don't do any research. YOU guess! Idiots like you are so f...king LAZY! Do some research!

I've done research, you haven't. You're looking for excuses for why Bush's economy was shit for 8 years when the reason is staring you right in the face; Conservative policy sucks.

 

[healthmyths]

The average effective tax rate for corporations is about 12.5%. So if you're keeping all the deductions and loopholes, as this plan does, how are you increasing revenues by lowering the tax rate? Magic trickle-down? Come on. We've been through this already.

THAT IS A LIE!!! Where are your facts?
Because HERE is reality! Do you understand?
A) FACT is 20% is what was actually paid in 2011.


https://www.treasury.gov/resource-c...ocuments/Average-Effective-Tax-Rates-2016.pdf

B) YOU didn't take in account that corporations PAY 6.2% of all payrolls to Federal government in SS/Medicare employee taxes!

C) Unemployment and workman's comp are additional taxes. Add to the above and you get nearly 30% in effect TAXES to the federal Government!

But of course YOU don't take those taxes in consideration!

 

[The Derp]

1) There were $8 trillion in dot.com losses

From where are you getting that number? And secondly, the dotcom bubble appeared in the first place because of the Capital Gains Tax Cut. You idiots caused the dotcom bubble to occur when you cut Capital Gains Taxes. So again, how is that not something of your own doing?

2) A recession started under Clinton officially began 3/01

And despite that recession and 9/11, GDP growth for 2001 was still positive. So Clinton isn't the excuse for shitty growth...Conservatives are because Conservatives don't know what the fuck they're doing. Because they're idiots.

3) 9/11 cost million of jobs, billions of dollars

How so? Cost jobs, how? Other than the people who died (and who would eventually be replaced with new hires), what jobs were lost? What businesses were closed? You realize that most, if not all, of those businesses in the WTC on 9/11 relocated their facilities to other parts of the city and Jersey, right? Did you think Cantor Fitzgerald ceased operations after 9/11? No. They moved to offices in midtown on the East Side.

4) Anthrax attacks caused a lot of angst, questions about mail 5 deaths!

So Bush didn't keep us safe. And what do the anthrax attacks have to do with 8 years of shitty growth thanks to Bush the Dumber's Conservative policies?

5) WORST Hurricane SEASONs not just hurricanes BUT years of hurricanes causing nearly a Trillion in damages, lost businesses, jobs and lives!

The storms during Obama were worse. Sandy was a much bigger and costlier storm than Katrina. Secondly, if you're admitting that hurricanes got bad under Bush the Dumber, why? Why do you think there were suddenly all these terrible, massive storms? Could it have anything to do with Climate Change?

6)Something you idiots NEVER seem to recognize the economic terrorist attack of 9/18/08 which would have collapsed the WORLD's economies!

Which was caused by Bush the Dumber's regulators ceasing enforcement of lending standards for subprime loans, which increased the number of subprime loans issued, which grew the derivatives market, which inflated the bubble, which led to the collapse. The "terror attack" on the economy didn't happen in 2008, it happened in 2004 when Bush and the Conservatives removed leveraging restrictions for banks, allowed Wall Street to "police itself", ceased enforcement of lending standards, and forced GSE's to resume purchasing risky loans (even though GSE loans far overperformed private-label loans during the same period).

7)In SPITE of all the above: FACTS.. After tax cuts in response to dot.com/recession/9/11 FEDERAL REVENUES INCREASED SEE below table!

Federal revenues didn't reach 2000 level until 2004. So you took three steps back to take one step forward and that's something to celebrate? What happens if you take three steps back and take one step forward? Aren't you two steps behind?

 

[healthmyths]

All the losses from 9/11 regained??? ARE YOU that f...king DUMB???

Are you!?!?!? I'm referring to the stock market.

On 9/17/2001, the market was at 9,580. It would drop down to 8,242 by 9/24/2001. It would go to 9,584 by 11/7/2001.

So the losses on 9/11 were regained less than two months later. Also, GDP growth for 2001 -even with 9/11 and the mild recession- was still positive.

YOU don't rebuild 18,000 businesses in 2 months!

18,000 businesses? Huh? WTF are you talking about? How do you measure "rebuilt"? Physical rebuilding? Those businesses relocated out of the WTC to other parts of Manhattan. They weren't destroyed, they were still very operational. Cantor Fitzgerald, for example, bore a lot of losses in personnel on 9/11, yet the company was still in operation. So what "losses" are you referring to?

It took over a dozen years to rebuild the WTC and it was less then the original 7 buildings destroyed. GEEZ LOSSES regained by 11/01?

Just because the towers were brought down didn't mean the businesses in those towers suddenly disappeared. They relocated to other parts of Manhattan or New Jersey as they waited for the physical buildings to be constructed.

THAT one comment totally disqualifies ANY Thing else you write because it PROVES you don't do any research. YOU guess! Idiots like you are so f...king LAZY! Do some research!

I've done research, you haven't. You're looking for excuses for why Bush's economy was shit for 8 years when the reason is staring you right in the face; Conservative policy sucks.

YOU didn't follow the links I provided did you?

Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S. 2001 to 2009: Top Financial Events That Rocked the Decade

And you totally ignored the dot.com bust!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $8 trillion dollars in market value for tech companies.
More than half of the Internet companies created since 1995 were gone by 2004 - with hundreds of thousands of skilled technology workers were out of jobs.
America Is Its Own Worst Enemy - Trapped In Irrational Exuberance | Zero Hedge

And you ignored the WORST Hurricane SEASONS!
8 of the top 15 disasters in the USA history occurred from 2001 to 2008! Totally ignored 2,215 lives lost, almost .25 Trillion in damages! You ignored!
Costliest U.S. Weather Disasters | Weather Underground

 

[The Derp]

A) FACT is 20% is what was actually paid in 2011.

OK, so if that's the case, then how will lowering the corporate tax rate result in more revenue or an increase in the effective rate?

B) YOU didn't take in account that corporations PAY 6.2% of all payrolls to Federal government in SS/Medicare employee taxes!

Which are payroll taxes, not income taxes. Do you...do you think corporations shouldn't pay payroll taxes? Why?

C) Unemployment and workman's comp are additional taxes. Add to the above and you get nearly 30% in effect TAXES to the federal Government!

That's not what your link says.