Trump to propose 15 percent corporate tax rate

[schwarzkopf]

The problem is that companies have the right to donate to campaigns like a person, that shit should be outlawed.

I don't have a problem either way - but if for example Enron can be 'incarcerated' for 5 years for a crime like a person (read - government seizes all profits), or executed (read - government sacks all board, management and takes control until new management is found), or taxed like a person (read - income tax), then I don't have a problem with Enron getting the advantages too.

[Ghostpanther]

Sure, he might be poor NOW. But someday, he'll be rich (insert Loto win or unknown dead rich uncle) and then people like him (now) better not leech off his newfound wealth!

Making 50k a year and living in the US, there are millions of people in the world who would agree he is rich and would gladly trade places with him.

[prwraith]

As long as all the loopholes for companies are closed and they actually you know PAY the FULL 15%. Sure why not.

[Kujako]

As long as all the loopholes for companies are closed and they actually you know PAY the FULL 15%. Sure why not.

Heh, that's adorable that you think such a thing could happen. Money is free speech, companies spend their money, I mean tell their Congressmen, why getting taxed on X is unfair and get exemptions etc. Us little people, without pockets full of free speech have no such access.

[Adolecent]

It isn't all about the height of corporate tax, it is about how the government spends the money. Infrastructure, low crime and a stable political climate are considered to be the 3 major reasons companies flourish and expand in a country.

Real estate trade makes high profits in unstable areas. Guess that what Trump is trying to seed.

[Deleted]

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

But sure, how can all those useless leeches keep sucking on if you cut the military budget? They've got priority remember?

[Yvaelle]

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.

The thing about trickle down economics is that none of it actually ever trickles down. You tax the middle class, give it to the rich, and then they keep it.

[zenkai]

The thing about trickle down economics is that none of it actually ever trickles down. You tax the middle class, give it to the rich, and then they keep it.

Then we have the other side that wants to tax the middle class and give it all to the poor, damn middle class gets fucked either way.

[alexw]

Doesn't trump think that putting a higher tax on goods imported from Mexico would Force them to pay for it rather then Mexico just turning around and making Us pay the difference?

Personally I'm under the impression he doesn't think at all.

With regards to the border adjustment tax its extremely obvious that all it will result in is higher prices for goods and services as sellers pass on the tax cost. Lots of nations have a VAT and this is nothing more than a VAT targeted on imports. The other key thing to think about is the distributional effects. Trump's tax cuts will fall on the rich, while a border adjustment tax would fall on the poor most of all, and nearly as hard on the middle class. This ends up being a net shifting of taxes from the rich onto the poor and middle class, which is why the Ryan wing in congress are having orgasms over it.

[Ghostpanther]

Then we have the other side that wants to tax the middle class and give it all to the poor, damn middle class gets fucked either way.

Yep. They usually do. Which is why a sales tax instead of a income tax would be more fair.

[Noxx79]

Yep. They usually do. Which is why a sales tax instead of a income tax would be more fair.

Sales taxes punish the poor more than the rich.

[Ghostpanther]

Sales taxes punish the poor more than the rich.

Depends on how it is implemented. And there are ways to help the poor. Food stamps, assistance, etc.

[AlphaOut]

Better to have a lower corporate tax rate than dozens of giant corporations not paying taxes at all.

[Zantos]

Personally I'm under the impression he doesn't think at all.

With regards to the border adjustment tax its extremely obvious that all it will result in is higher prices for goods and services as sellers pass on the tax cost. Lots of nations have a VAT and this is nothing more than a VAT targeted on imports. The other key thing to think about is the distributional effects. Trump's tax cuts will fall on the rich, while a border adjustment tax would fall on the poor most of all, and nearly as hard on the middle class. This ends up being a net shifting of taxes from the rich onto the poor and middle class, which is why the Ryan wing in congress are having orgasms over it.

Sadly, I am not really certain how much of what we get is actually imported from Mexico. So I can't really say how big of an impact this would have.

[Kujako]

Better to have a lower corporate tax rate than dozens of giant corporations not paying taxes at all.

You assume the former, will prevent the later. Not sure what you're basing that on.

[Video Games]

Sucks but nothing we can do about it unless they let us vote for it.

[Kujako]

Sucks but nothing we can do about it unless they let us vote for it.

They did let us vote on it, enough people voted for Trump & Co for them to win.

[alexw]

Sadly, I am not really certain how much of what we get is actually imported from Mexico. So I can't really say how big of an impact this would have.

The border adjustment tax isn't just on things from Mexico, its on all imports of any type made anywhere. Finished goods, commodities such as rice and oil, intermediate parts such as gear boxes for cars, etc, etc. Hence, the impact would be BIG.

[Video Games]

They did let us vote on it, enough people voted for Trump & Co for them to win.

Ok, but now he can implement this and I'd assume most of Congress is in bed with a corporation to not want to vito this. It sucks, but it's probably gonna happen even if we don't think it's a good idea.

[Tyrianth]

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

What should I cut? I could stop buying groceries... that would save me a few hundred a month. Or maybe my utility bills? WHO really needs electricity anyway? Maybe my rent? I'll get a few months before my landlord manages to evict me that seems plausible...

Fuck it, I'll just ask the bank to print me some more money!