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originally posted by: John_Rodger_Cornman
What would happen if the corporate taxes were reduced to 0%?
The current tax rate maxes out at 39.6%. We have one of the highest corporate tax rates in the world. What extra unnecessary regulations do US businesses have that foreign business don't have?
What would that do in the short term and the long term? How will this effect small businesses and small credit unions and banks? Is this even possible or is it a pipe-dream? Will this help the poor and middle class or will it have no real effect? What effect will this have on industry?
Thank you for replying.
originally posted by: John_Rodger_Cornman
What if you remove both the corporate tax and the individual income tax but you keep a sales tax?
originally posted by: crazyewok
a reply to: Bluntone22
Maybe if corperate tax was lowered and simplified more company's would pay it?
Dont think the answer is to tax more, nor is it to eliminate it.
But if a business is going to use a host nations services it should contribute.
originally posted by: Sargeras
originally posted by: John_Rodger_Cornman
What would happen if the corporate taxes were reduced to 0%?
The current tax rate maxes out at 39.6%. We have one of the highest corporate tax rates in the world. What extra unnecessary regulations do US businesses have that foreign business don't have?
What would that do in the short term and the long term? How will this effect small businesses and small credit unions and banks? Is this even possible or is it a pipe-dream? Will this help the poor and middle class or will it have no real effect? What effect will this have on industry?
Thank you for replying.
Greedy halfwits that would make every child on earth starve to death for an extra nickel would just keep more money they don't need.
Their workers wouldn't see a single cent, and the prices on their goods wouldn't drop.
So nothing good for anyone but themselves.
originally posted by: chiefsmom
Well, I'm guessing it would depend on the businesses. Some would be able to pay employees better, hire more, and stay in the US
And then there are those that would just pocket all the profit, not paying employees better. But at least they would stay in the US.
originally posted by: John_Rodger_Cornman
a reply to: onequestion
They are so greedy that they would hire more people to make more money.
Increase production.
or open more stores,factories,distribution centers. Maybe they hire more specialized employees to best their competition.
originally posted by: Sargeras
originally posted by: John_Rodger_Cornman
a reply to: onequestion
They are so greedy that they would hire more people to make more money.
Increase production.
or open more stores,factories,distribution centers. Maybe they hire more specialized employees to best their competition.
And all those worthless jobs won't even pay 30K a year in a country where 30K for a family of 4 means poverty.
originally posted by: John_Rodger_Cornman
originally posted by: Sargeras
originally posted by: John_Rodger_Cornman
a reply to: onequestion
They are so greedy that they would hire more people to make more money.
Increase production.
or open more stores,factories,distribution centers. Maybe they hire more specialized employees to best their competition.
And all those worthless jobs won't even pay 30K a year in a country where 30K for a family of 4 means poverty.
Strike for better pay then.
What if their competitors are paying 55k a year for the same job?
With an average income of around KYD$47,000, Caymanians have the highest standard of living in the Caribbean. According to the CIA World Factbook, the Cayman Islands GDP per capita is the 14th highest in the world.[35] The islands print their own currency, the Cayman Islands dollar (KYD), which is pegged to the US dollar 1.227 USD to 1 KYD. However, in many retail stores throughout the island, the KYD is typically traded at 1.25 USD.[36] However, there is marked poverty among native people of the islands, and pressure to maintain a standard of living inconsistent with their means. The government has established a Needs Assessment Unit to relieve poverty in the islands.[37]
originally posted by: John_Rodger_Cornman
a reply to: Edumakated
What is to stop a business from increasing the pay of workers to keep them from going to their competitors?
originally posted by: roadgravel
Most corps aren't paying that percentage.
Look at what happened in Kansas when taxes were lowered.