Trump to propose 15 percent corporate tax rate

[Thepersona]

President Donald Trump is expected to propose slashing the corporate tax rate to 15 percent on Wednesday, as the White House unveils its first stab at a tax plan, according to two sources familiar with the administration’s deliberations.

Cutting the corporate rate to such a low level would allow Trump to follow through on a campaign promise that has been months in the making – even if policy experts argue that getting to that rate is impossible to do without imposing a new levy like a consumption tax, or blowing a hole in the deficit. Trump has been saying since early February that the administration’s release of a tax plan was just weeks away.

http://www.politico.com/story/2017/0...x-rates-237556

so.. thoughts?
personally, this reeks of trickle down... and that type of policy is proven not to work, so say welcome to a giant fiscal deficit fellas

[GennGreymane]

Don't worry, military spending will continue to increase. Programs that are cut will never meet the numbers needed to make this doable, but we can just go on credit or something.

[schwarzkopf]

If they want companies to have the rights of a person, then companies should have the responsibilities of a person (being jailed, being executed, being taxed).

[Machismo]

I'm all for reducing corporate taxes, so long as there is also reduced spending to offset the inevitable revenue reduction. Of course, I do not see that happening. It will also likely include the option for corporations to repatriate their overseas accounts, which will provide a bump in the first year or two, but will not be sustainable. I also don't see how the GOP can get this to pass, without also pushing for reduced income taxes. That's the problem with tax reform, changing a small portion is a monumental task.

[Alydael]

If he does away with a lot of the "tax breaks," it would be an increase for some companies.

Facebook and google paid (I think) about .7% on their billions under Obama. Even if it wasn't exactly .7%, it was far less than 15%.

That's one of the reason I support a flat rate across the board. No "exemptions" or any games. Everybody over a certain income level pays the same base rate.

[Deleted]

Reduce spending and there will be no problem.

[Thepersona]

Don't worry, military spending will continue to increase. Programs that are cut will never meet the numbers needed to make this doable, but we can just go on credit or something.

that's what we call going full 1929, or at least making a twin deficit (fiscal deficit and trade deficit, for all of the loans that u take lol)

[Machismo]

If they want companies to have the rights of a person, then companies should have the responsibilities of a person (being jailed, being executed, being taxed).

You make a good point, make people and corporations responsible for the consequences of their actions. The same should of course apply to churches, as well.

[Aggrophobic]

http://www.politico.com/story/2017/0...x-rates-237556

so.. thoughts?
personally, this reeks of trickle down... and that type of policy is proven not to work, so say welcome to a giant fiscal deficit fellas

Thats great but where is he going to get the money to pay for... anything?

[Thepersona]

Reduce spending and there will be no problem.

where?
this tax plan would reduce the revenue by billions.. where would you cut? i mean, with slashing the military by a third, you could make this reasonable
if you dont want to get a unsustainable level of inflation, i might add

[Azadina]

So where do all workers sign up for 15% too?

[Spectral]

I'd be fine with it if it was implemented in a fashion that resulted in megacorporations paying an effective 15% rate instead of being able to regularly reduce their rates to pretty close to zero. As it stands, the high statutory rate basically only falls on corporations that are too small to exploit the system effectively.

That aside, I don't think corporate taxes are an especially good source of revenue. They're fine, but I'd generally prefer VAT-style taxes.

[Manabomb]

If he does away with a lot of the "tax breaks," it would be an increase for some companies.

Facebook and google paid (I think) about .7% on their billions under Obama. Even if it wasn't exactly .7%, it was far less than 15%.

That's one of the reason I support a flat rate across the board. No "exemptions" or any games. Everybody over a certain income level pays the same base rate.

You act as if Obama was the first president or even politician to help the people that elected him.

It's what Trump is doing literally right now.

[Spectral]

So where do all workers sign up for 15% too?

When it comes to federal income tax (a reasonable analogue to corporate tax rate), people below the 50th percentile of income tax earners already pay less than a 15% effective rate (see table 1 summary).

[NED funded]

Swell idea. Our tax rate is among the highest in the world. Chile has a corporate tax rate of 24%.

[Thepersona]

I'd be fine with it if it was implemented in a fashion that resulted in megacorporations paying an effective 15% rate instead of being able to regularly reduce their rates to pretty close to zero. As it stands, the high statutory rate basically only falls on corporations that are too small to exploit the system effectively.

That aside, I don't think corporate taxes are an especially good source of revenue. They're fine, but I'd generally prefer VAT-style taxes.

hmm, if making a flat tax rate of 15% (or a increasing one from 15 to 25%), but without any excemptions, bar losses from the company is possible, i'm all in, but that's not gonna happen

[Deleted]

Trump didn t pay tax for 10 years so why do you care the rich don t pay anyways

[Thepersona]

Swell idea. Our tax rate is among the highest in the world. Chile has a corporate tax rate of 24%.

with our tax overhaul of 2015, we went to a 27% tax rate, if i'm correct... i mean, no big company pays that, but whatev

[NED funded]

Obama supported a 28% tax rate.

https://mobile.nytimes.com/2017/03/2...-tax-cuts.html

[ingsve]

personally, this reeks of trickle down... and that type of policy is proven not to work, so say welcome to a giant fiscal deficit fellas

It reeks alright but not of trickle down. They don't care at all about the downstream. It's all about making themselves and their donors richer.