Trump to propose 15 percent corporate tax rate

[GennGreymane]

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

Why are companies not moving to Chile then?

[NED funded]

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

I'm using this as a source
http://www.tradingeconomics.com/chil...orate-tax-rate
Still pretty low compared to ours

[schwarzkopf]

he same should of course apply to churches, as well.

I'd already covered them in companies (businesses etc)...

[Redwyrm]

The tax savings would go directly into executive salaries and bonuses. Only a few companies would distribute the savings to the middle class or upgrading

[Puremallace]

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.

[GennGreymane]

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.

Just a reminder that this includes people 35 and below

[Thepersona]

Why are companies not moving to Chile then?

They should lol
Our unions are in worse shape than in the US, and we're working 45+ hours a week

[zenkai]

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).

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

[alexw]

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.

Whatever rate it is should be revenue neutral. But it should even out the discrepancies that allow some companies to free ride by paying nothing while others pay close to the statutory rate.

[PosPosPos]

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.

Don't worry, Millennials will still be blamed for being lazy and entitled at the end of the day.

[Spectral]

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

Right, of course not. If it was going to happen, it wasn't going to be from this government.'

I'm sure we'll continue with a system that has horribly perverse incentives to feign loss and to pay tax accountants and lawyers large amounts of money to make it so.

[NED funded]

Why are companies not moving to Chile then?

US human capital + capital investment > Chile

[Vash The Stampede]

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

Trumps not stupid. He's going to put it on his credit card and then file for bankruptcy. It's like free money!

[Spectral]

Whatever rate it is should be revenue neutral. But it should even out the discrepancies that allow some companies to free ride by paying nothing while others pay close to the statutory rate.

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.

[Thepersona]

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

Oh god yes. But you should take down citizens united for that, or not?

[Puremallace]

Just a reminder that this includes people 35 and below

FYI so everyone knows the savings from this on the corporate side will go towards dividends and share buybacks. I hope people get this but I seriously doubt they do. It will trickle down alright in mostly liberal areas.

Stock market would triple and bond prices would damn near crash.

[Aggrophobic]

Trumps not stupid. He's going to put it on his credit card and then file for bankruptcy. It's like free money!

I have to admit, that made me giggle.

[GennGreymane]

US human capital + capital investment > Chile

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

[Thepersona]

FYI so everyone knows the savings from this on the corporate side will go towards dividends and share buybacks. I hope people get this but I seriously doubt they do. It will trickle down alright in mostly liberal areas.

Stock market would triple and bond prices would damn near crash.

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

[Lenonis]

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.