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Response to 7962 (Reply #11)

Mon Sep 2, 2013, 10:00 AM

13. How would you figure we have the highest corporate tax in the world?

In Saudi Arabia and many other oil countries, the government is a 50% owner of the businesses by law. That's a 50% tax rate just based on earnings distributions to shareholders. But it's not LABELED a tax, so they are these super "progressive countries"?

Too many of the Fortune 500 here pay NO tax at all, perfectly legally. That must change. In the 50s, we had a 92% top tax rate. The incentive to not pay it was to invest, create jobs, build branches, and deduct those expenses to get the tax down. Now, taxes are so LOW that there is no penalty for holding cash, which stagnates the economy, kills purchasing power, ends job growth.

Need taxes to be MUCH MUCH higher than they are now - then things will get rolling.

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xchrom Sep 2013 OP
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7962 Sep 2013 #11
LineLineReply How would you figure we have the highest corporate tax in the world?
mbperrin Sep 2013 #13
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