Remember this the next time you hear a progressive blathering about companies that ship jobs overseas. Why wouldn’t they? I’m surprised more businesses haven’t done it.
April Fool’s – the joke’s on us!
This April Fool’s Day, the joke is on all of us. That’s because as of April 1, the U.S. now has the highest corporate tax rate in the developed world.
Our high corporate tax rate has long made the U.S. an uncompetitive place for new investment. This has driven new jobs to other, more competitive nations and meant fewer jobs and lower wages for all Americans. Other developed nations have been cutting their rates for over 20 years. The U.S. did nothing. (Read More)
Via Doug Ross and iOwnTheWorld
Update: Lady Liberty linked – thanks!
With the addition of 4000 IRS agents, the whole country will be paying top tier taxes!
WaPo is reporting extreme tax increases for 2013!
If Obama can’t tax us to death through ObamaCare, he will get it other ways, with a vengeance!
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Oh great…we’re number 1 !
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Meanwhile, the largest and government-plugged in corporations avoid net taxes (GE paying zero). This is designed to crush the smaller corporations and drive them out of business. Then we will just be left with the government and the mega-corps that are intertwined with them.
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I am getting annoyed at Heritage because the obvious retort from the libs is that NOBODY except startups pays this rate – Have you forgot that GE pays NOTHING, in fact WE PAY THEM ! So, all you folks at Heritage, how about giving us some real ammo that does not backfire in our face. If you trot this out in a presidential debate you will get cut to ribbons. That is why Alan Simpson has a valid complaint against Grover Norquist.
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The purpose of setting the top tax rate very high, is so that statist politicians can win power for themselves by dispensing favors to their supporters in the form of tax credits and tax exemptions.
You could generate at least as much tax revenue by lowering the tax rates and eliminating most of the tax loopholes and special exemptions. But that would eliminate the ability of politicians to fiddle with the tax code for the benefit of themselves and their supporters.
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Over the weekend I heard Obama and other Dems say that they wanted to reduce the corp. tax. With the presidency, majorities in both houses,and GOP cooperation, what the hell could have stopped them? What a bunch of liars!
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[...] We’re #1!: It’s Official – United States Now Has Top Corporate Tax Rate in the World [...]
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Don’t be deceived. The rate of 35% is what corporations are supposed to pay. But the rate they actually pay on average is 12%. Corporate friendly politicians give out tax breaks and subsidies and credits and loopholes as fast as they can. As a result, corporations pay less than they should, while the middle class pays more and more every year. Is that the way it should be? Most Americans would say “No” but in order for this trend to change people will have to vote for politicians who are dedicated to doing the right thing, and in general, that has not been the Republicans of late.
Hot debate. What do you think?
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