Trump to propose 15 percent corporate tax rate

[NED funded]

Sounds like when ever I see tax arguments, that there are substantial other factors that are involved.

Ireland is nice example of low taxes working.

[Orlong]

Basically if you are a Millennial expect to work until you are 90 because Medicare and Social Security are going to be bankrupted by these guys. Also expect a 30-40 trillion debt by 2030.

So yeah we are fucked.

If people would manage their money better they wouldnt need to rely on social security and medicare. Perhaps Millenials should stop buying $6 Starbucks coffees every morning. That would save $2190 ($109,000 over 50 years) per year just by not buying fancy coffee every day. They could also start cooking at home instead of always eating out at the trendy gastro pub. Invest in IRAs and 401Ks instead. Stop living paycheck to paycheck

[alexw]

Agreed - this is basically a simple arithmetic problem, it shouldn't really be that hard, but I think we all know that having Exxon pay a normal corporate tax rate will not be a goal for this administration.

My guess is Trumps tax overhaul will fail just like his healthcare bill did, as it will solely be aimed at reducing the overall tax rates of the wealthy (just like his healthcare bill). It will also lack the necessary means to pay for those cuts or if it does include them will aim its cuts at programs that help the poor/middle class.

The end result of all that being that there will be no buy-in from democrats or anyone who isn't a hardcore republican, resulting in their opposition and the bills failure as moderate republican congressmen run away.

[Thepersona]

If people would manage their money better they wouldnt need to rely on social security and medicare. Perhaps Millenials should stop buying $6 Starbucks coffees every morning. That would save $2190 ($109,000 over 50 years) per year just by not buying fancy coffee every day. They could also start cooking at home instead of always eating out at the trendy gastro pub. Invest in IRAs and 401Ks instead. Stop living paycheck to paycheck

Hey @PosPosPos, you were right, ppl jumped right away to say that millenials are entitled brats!

[Soeroah]

Good thing Lord Trump is in the White House to get rid of special interests influencing legislation.

RIGHT, MEN?

[NED funded]

Mostly dividends though... i mean, we should see in a company by company basis
but your assesment is right. dividends/bonds are mostly payd in bue states (because that's where the stock market is situated)

PS: a thesis of corporate taxes in chile (its in spanish btw), from someone of my university

http://repositorio.uchile.cl/bitstre...pdf;sequence=1

TFW no catolica.

[GennGreymane]

Ireland is nice example of low taxes working.

But we got examples of lots of things. For example, here are countries that use flat tax

https://en.wikipedia.org/wiki/Flat_tax

[Azadina]

Ireland is nice example of low taxes working.

Wouldn't be working much without the EU throwing money at them for being short all the time.

[Revi]

Just gotta find a way to make nepotism a profitable export. Plug that deficit right up.

[Redwyrm]

If people would manage their money better they wouldnt need to rely on social security and medicare. Perhaps Millenials should stop buying $6 Starbucks coffees every morning. That would save $2190 ($109,000 over 50 years) per year just by not buying fancy coffee every day. They could also start cooking at home instead of always eating out at the trendy gastro pub. Invest in IRAs and 401Ks instead. Stop living paycheck to paycheck

Then Starbucks and those trendy gastro pubs lose a ton of revenue, perhaps go out of business and putting a lot of people out of work.

[alexw]

Ireland is nice example of low taxes working.

No its not. Its a nice example of a tax haven free riding off of its neighbors. Here's the problem though. Ireland is a country of 4.5 million people in a region with a total population of 750 million, thus the weight of its leeching on its neighbors while felt is tolerable. Now try and do the math for that for a population the size of the US's and its negative impact on its neighbors / rest of the developed world.

There is a reason why all the tax haven parasites are small nations or parts of small nations. We as a country can't follow and it would be foolish to try.

[PosPosPos]

Hey @PosPosPos, you were right, ppl jumped right away to say that millenials are entitled brats!

I rubbed my made-in-china crystal ball that was sold by a Trump family-owned company and that's what came right out of it.

You are welcome, btw.

[GennGreymane]

Then Starbucks and those trendy gastro pubs lose a ton of revenue, perhaps go out of business and putting a lot of people out of work.

You just made Orlong explode

[JohnBrown1917]

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.

What is wrong with a progressive rate?

[cuafpr]

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.

this.. if it also eliminates loopholes and off shore accounts and "dummy" addresses i'm all for it.

[Goldenboy1]

If people would manage their money better they wouldnt need to rely on social security and medicare. Perhaps Millenials should stop buying $6 Starbucks coffees every morning. That would save $2190 ($109,000 over 50 years) per year just by not buying fancy coffee every day. They could also start cooking at home instead of always eating out at the trendy gastro pub. Invest in IRAs and 401Ks instead. Stop living paycheck to paycheck

Makes sense you have a "Make America Great Again" icon. Firstly, you reject the idea of anyone besides millennials spending money on the daily for consumer products. This is absurd, why not extend your argument to cigarettes, other institutions of food and beverage production, alcoholic beverages, transportation, etc. Did you know if you did not own a car or buy gasoline you can save thousands of dollars? OH boy sign me up. Do you see the issue here? You have no real argument besides "don't spend money".

Lets extend your argument to the real world, apparently you are in a bubble of monetary ignorance. According to you, "Do not spend money, $6, every day at Starbucks" which will decrease revenue, employment rates of that institution, and decreases the circulation of money in the economy. And your whopping $2,190 a year estimate is pathetic, the average car payment in the United States is $479 a month or $5,748 which is more than double the cost of a cheap mocha on your day to work. Maybe they should be more responsible in managing money and not get a car, hell lets have them sleep in little boxes like cats so they are not "miscalculating their money". Instead of blaming them for enjoying coffee and stimulating the economy you should be blaming Gen X and the other 1900's generations for creating a crippled economy. One depression, three recessions in less than 100 years is a grand old track record but lets blame the 22 year old IT on his way to Apple stopping to buy a quick coffee and try to enjoy their day.

My favorite part is "Stop living paycheck to paycheck" on average they are making 20% less money than baby boomers at the same age and make up 44% of all debt due to the price of college. Keep in mind, the prices of colleges have gone up due to greed and the ineptitude of the older generations. Products cost more, college costs more, and Millennials are being paid less. They are living paycheck to paycheck regardless because of shit tier monetary policy which has failed for years.

But please, blame the millennials lack of financial power on them enjoying a coffee in the morning. And you act like baby boomers do not eat out however 40% of their food dollars spent are on restaurants, yes millennials spend 44%. However, the baby boomer 40% is $2,629 and the millennial's 44% is $2,921 but, millennials make up the bulk of the population making that 44% value less than the baby boomer's 40% proportionally. Meaning if you were to increase the baby boomer population by a few thousand then their spending would be more than millennials.

But please, blame the largest demographic burdened by the failures of past generations more, its been working out just grand. "Make America Great Again" what a joke.

[cuafpr]

What is wrong with a progressive rate?

shouldn't be punished via much higher taxes just b.c. you make more..

[zenkai]

So he wants to increase military spending, pay for a wall, and slash corporate taxes so there is no income.

Is this the outsider business sense that Trump supporters wanted?

Cause it looks to me like someone who has no clue what he's doing.

This will never pass the house anyway. The Republicans won't let the deficit explode to insane levels under their watch.

Corporate tax is only about 10% of our taxes, majority come from payroll tax and income tax, so putting aside the argument if this is a good thing or not, I doubt it would put is in a huge defecate.

[Orlong]

You just made Orlong explode

Not really. Businesses dont exist just t provide jobs, providing jobs is a positive side benefit to having a business. Saving jobs is the very last reason that a company should be staying in business. If youre not profitable, board up the windows and liquidate. Someone else will open a business and displaced workers (if they are good and not lazy) can work for the new business

[GennGreymane]

Not really. Businesses dont exist just t provide jobs, providing jobs is a positive side benefit to having a business. Saving jobs is the very last reason that a company should be staying in business. If youre not profitable, board up the windows and liquidate. Someone else will open a business and displaced workers (if they are good and not lazy) can work for the new business

I feel like I read you say the opposite before.