TIME magazine really?

Quote

---

Originally posted by: roycpa
I have tried to stay out of this thread, since no one's mind will be changed, but . . .

I AM A Business owner, and I have prepared thousands of corporate tax returns over the last 40 years or so. Chilcoot is totally correct in that almost no one pays the stated corporate rates, so even though our top corp rate is 35%, almost no one actually pays that. Frankly, the small businesses that you all are trying so hard to protect are usually S Corporations and pay zero taxes at the corporate level. The increase in tax rates will have zero impact on small business owners, and will certainly have no impact on job creation by them.

The right wingers here and in the radio/tv entertainment complex love to spout nasty commentary and even they don't believe what they are saying, they are just trying to sell books to Dr Milled and Mr Woodpecker, and others like them. It's really funny that a president who is pretty middle of the road is considered socialist - I guess because he thinks health issues shouldn't bankrupt anyone in this country. No matter how many names you may call him, I think the real scumbags (apparently a favorite term around here) are the business owners who are already trying to bend the rules to get out of covering employees healthcare and other fringes.

I'm not happy about the deficit either, but as a peace loving American, I think we could probably balance the budget by cutting all military spending until the budget balances. There is a reason we are hated in many parts of the world, and it's mostly because we stuck our noses in where they didn't belong.

I can't imagine a better award winner for Time magazine, Thank God for our President. God bless you all and God bless America. Hope you all had a Merry Christmas!!


Roy

---

Quote

---

Originally posted by: Chilcoot

Quote

---

Originally posted by: rdwoodpecker
(O)ur corporation taxes are among the highest in the world.

---

I've shown that this statement is false, using statistics from the Congressional Budget Office reported by the Wall Street Journal. Corporations in America pay low taxes compared to other developed nations, and right now those taxes are at a 40+ year low.

In the face of that, I don't much care about what some outdated domain placeholder page you managed to find from some territory (Cocos Islands?) in the Indian Ocean says.

You seem to desperately want to avoid looking wrong, to have your bullshit go unchallenged. But wrong you are, and bullshit it is.

---

Quote

---

Originally posted by: rdwoodpecker
Maybe you should check the website closer! It is the 2011 and 2012 rates!!!!!!!!!!!!!!!!!!!!!! Are we operating in some other year than 2012????? Damn you seem to talk out of both of your openings! But, yet can't seem to answer a simple question when asked!

---

Quote

---

Originally posted by: rdwoodpecker
https://articles.latimes.com/2012/dec/25/business/la-fi-corporate-tax-rate-20121225

If you can read this you will see that the corporate rates IS STILL 35% at the top! You also need to read what your leader thinks of this "highest corporate rate in the developed countries"

But I will let you draw your conclusions after you ONCE again read the info provided.

---

Cool, I knew that you'd feel forced to come around to my point eventually.

As I first wrote in this thread a week ago and roycpa echoed yesterday:

Quote

---

Originally posted by: Chilcoot
While the U.S. has a high statutory corporate tax rate (meaning the rate on paper), U.S. corporations actually pay incredibly low taxes due to the ever-proliferating loopholes, credits, and deductions in the tax code and the use of overseas tax havens, things competitor nations simply don't allow.

In other words, we start from a high rate, then give so many corporate breaks that companies can whittle their exposure down to among the lowest rates in the world.

---