Come April 1, 2012 -- this Sunday -- the US will have the highest corporate tax rate in the world.
It is ironic. Who would have thought the country known for free market capitalism now has the highest corporate tax in the world...and then we wonder why our economy is in the shape it's in.
Anyone who tells me taxes need to be raised....well, they probably won't see their comment posted.
Ah but the actual corporate taxes paid by corporations (effective tax rate) is much much lower. They're called loopholes.
ReplyDelete1) But, of course, Obama also wants to removed those loopholes, also, such as the oil depletion allowances.
Delete2) And those who don't think there are loopholes overseas, those folks are truly naive. Greece is an excellent example of loopholes.......
3) Regardless, come Sunday, the US holds the distinction of having the highest corporate rate. And, oh by the way, a lot of smaller corporations cannot take advantage of any loopholes.
april dockets are up...whoa!
ReplyDeleteWow, something to do this weekend. Thank you. I was looking for them yesterday; forget to look today.
DeleteAll OBAMA wants to do is tax the rich. He does not think about other side-effects of raising corporate tax rates like American corporations moving their business overseas!!! So much for a job stimulus right? Look at the biggest corporations: Apple, Microsoft, Nike
ReplyDeleteThey have a large portion of their manufacturing etc out of the USA. Other countries want free market capitalism, we are going towards socialism. Everyone is equal. The physician=welfare woman with 8 kids.
I don't recall when, but I think it was back in the late 80's when I was stationed overseas that I observed that socialist countries -- having tried socialism and seeing it fail -- were moving toward the American model of free market capitalism (the best example, of course, is China) whereas America was moving toward the failed policies of socialism. I wrote a short memo to that effect, sealed it in an envelope, and put it away to be opened some decades later. I've since lost the envelope, but I recall the observation vividly. This was exactly the wrong time to have a socialist in the White House. We had already experienced one lost decade, only to experience another.
DeleteI was for the tax increase, before I was against it.....
ReplyDelete/sarcasm off
:-)
It's been awhile since we've heard from you, Rory. Thank you for taking time to comment.
DeleteOne other comment on raising taxes on businesses.....
ReplyDelete(sorry I've not been commenting recently - rather busy - but I do read every day!!!!)
I hope everybody knows - that businesses simply *DO NOT* pay any taxes at all!!!! These are passed through to customers of the businesses - so for instance - if Coca Cola pays tax - that tax is priced into the bottle of coke you buy!!!
I am totally for a *ZERO* tax on businesses.....
rory
You are correct. That's one more little detail people forgot about in this entire discussion.
DeletePretty scary that knowledge is so limited about the economy. When government is used to take rather than encourage wealth generation the alarm bells should go off.
ReplyDeleteAnyway there are things happening near Decorah, Iowa.
http://www.petethomasoutdoors.com/2011/05/decorah-bald-eagle-web-cam-surpasses-100-million-views-.html
Thank you for update on the bald eagle cam. I haven't been to that site in awhile.
DeleteI have transcribed April dockets. I am too tired to comment on them right now; maybe comment on them tomorrow. But easy to see the trend.
ReplyDelete