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2016 Postmortem

Swede Atlanta

(3,596 posts)

18. The U.S. has one of the highest marginal tax rates for businesses....

Reply to Smilo (Original post)

Thu Dec 13, 2012, 07:18 PM

Dec 2012

among the major global economies. Most European countries tax between 30 and 34% whereas the U.S. marginal rate, on average is 39%.

The problem is I don't know what the effective tax rates are in these other countries. When you add in all the deductions for business expenses and other "special" allowances, including the corporate welfare (e.g. oil companies), I wonder if the effective U.S. rate is even 20%.

So I'm not opposed to dropping the marginal tax rate on businesses to be competitive but the effective tax rate MUST GO UP. Businesses get so many advantages by operating in our economy and seem to not want to pay anything for those benefits. It is as if we should give them money for doing business here.

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Highlight:

WTF - Obama going along with Corporate Tax Reform [View all] Smilo Dec 2012 OP

Forward! blkmusclmachine Dec 2012 #1

Just as if there had never been an election MotherPetrie Dec 2012 #2

Exactly. I would have bet anything that this would happen........nft plethoro Dec 2012 #14

Ditto. SoapBox Dec 2012 #16

I can't believe this surprises you enough to say "WTF". n/t djean111 Dec 2012 #3

Right? Myrina Dec 2012 #6

+1,000,000,000 cui bono Dec 2012 #7

+1^100 n/t RoccoR5955 Dec 2012 #10

"Not sure why people around here still refuse to see that". Maybe some who refuse to see that AnotherMcIntosh Dec 2012 #13

The lesser of two evils strikes again. Hope he backs off this one as well. n/t Dawgs Dec 2012 #4

Corporations, paying an effective income tax rate of 7%, are not part of the indepat Dec 2012 #5

Corporate Profit Share of GDP Reaches All-Time High Despite Sharia Socialism GeorgeGist Dec 2012 #8

Corporations haven't paid income taxes in years. Dropping the rate is fine while eliminating Filibuster Harry Dec 2012 #9

Most big corporations don't pay income taxes, and many get refunds. NewJeffCT Dec 2012 #11

I'm expecting to hear that all the Bush tax cuts are being made permanent budkin Dec 2012 #12

I have no problem with Corporate Tax cuts.... LynneSin Dec 2012 #15

Spare the safety net, not the corporations..... midnight Dec 2012 #17

The U.S. has one of the highest marginal tax rates for businesses.... Swede Atlanta Dec 2012 #18

My understanding is the effective rate is 24%. Ikonoklast Dec 2012 #20

They are not paying anyway quakerboy Dec 2012 #19

As long as it's eliminating... PoliticalBiker Dec 2012 #21

No surprises at all. Jack Sprat Dec 2012 #22

Republicans won't accept ANY offer from Obama, so it doesn't even matter. Read this too: Avalux Dec 2012 #23