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mbperrin

(7,672 posts)

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

Reply to 7962 (Reply #11)

Mon Sep 2, 2013, 10:00 AM

Sep 2013

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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26 replies

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Highlight:

An Easy Way to Squeeze a Lot of Taxes from Corporations That Try to Hide Their Profits Offshore [View all] xchrom Sep 2013 OP

K&R Scuba Sep 2013 #1

Of course the congresscritters' corporate owners would never let them pass this. hobbit709 Sep 2013 #2

Too Far Royal777 Sep 2013 #20

Or they could use the money for unending war and to spy on citizens. dkf Sep 2013 #3

or on tax cuts for working families eShirl Sep 2013 #4

we badly need corporate tax reform in this country Celebration Sep 2013 #5

And two years later the owners buy MORE tax breaks from Congress......... socialist_n_TN Sep 2013 #15

How would you stop... FreeJoe Sep 2013 #6

That is an easy one. Half-Century Man Sep 2013 #10

It's not nearly that easy. FreeJoe Sep 2013 #16

Yes they could. But they won't. radiclib Sep 2013 #7

it's not that easy alc Sep 2013 #8

Easiest thing would be to prohibit the corporation as a business organization. mbperrin Sep 2013 #12

Yeah, that'll work ...... oldhippie Sep 2013 #17

Yes. Let business owners operate as partners in the same manner as Lloyd's of London. AnotherMcIntosh Sep 2013 #21

Yes, in their pre-1994 mode, where "Names" faced unlimited personal liability for their decisions. mbperrin Sep 2013 #23

Until we push (hard) and achieve campaign finance reform and publicly funded elections, Dustlawyer Sep 2013 #9

Where's the "idea"? The article just says to tax money held offshore 7962 Sep 2013 #11

How would you figure we have the highest corporate tax in the world? mbperrin Sep 2013 #13

If the government owns half the company, you cant compare the two. 7962 Sep 2013 #14

Well, you're on the verge of understanding something. mbperrin Sep 2013 #18

Well, I cant put my 401 anywhere but where my company SAYS I can 7962 Sep 2013 #19

Consumption tax is the worst ever. mbperrin Sep 2013 #22

Havent TOTALLY abandoned the 401! 7962 Sep 2013 #24

Good. mbperrin Sep 2013 #25

But isn't Congress being paid by the very wealthy to NOT do this? nt valerief Sep 2013 #26