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Response to AnotherMcIntosh (Reply #76)

Fri Dec 14, 2012, 09:59 AM

79. That's a lame prediction, and I'll explain why.

We already know that the corporate tax rate, while at 35%, is actually much lower because of the numerous loop holes and deductions that exist. Many companies pay closer to 0% today.

And so, if you want them to pay an effective higher rate than the current 0%, you would need to do something.

Now, one approach would be to decrease the 35% rate, while also removing the largest loop holes and associated deductions. Taking such an approach could actually RAISE the effective tax rate above the near 0% many corporations pay today.

Using your prediction, even if we raised more revenues through such an approach, you would take the rather naive view that since the 35% rate dropped to say 25%, that's bad, even if the effective rate increased from 0% to 20%.

And so ... if you want to make a prediction about how bad such a deal is going to be, please indicate how much revenue you expect Obama to lose in the deal.

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