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What would happen if the corporate taxes were reduced to 0%?

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posted on May, 4 2016 @ 04:05 PM
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What if you remove both the corporate tax and the individual income tax but you keep a sales tax?
edit on 4-5-2016 by John_Rodger_Cornman because: added words




posted on May, 4 2016 @ 04:08 PM
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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.


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.



posted on May, 4 2016 @ 04:09 PM
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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?


I'd support a sales tax. However, the libs are going to want some kind of tax refund for the lowest incomes as they would be hit harder. For example, if you make less than $30k a year, you get an automatic $5k back or something.

The other problem with sales taxes is that the create black markets. I'm sure there'd be all kinds of schemes to avoid having to pay the sales taxes.



posted on May, 4 2016 @ 04:10 PM
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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.


I agree. Maybe the better option, is to tax based on an incentive type scale. If a business goes all-in, and keeps ALL facets of their business here, they get the biggest incentive(s) for taxes. Hide your money elsewhere, less incentive. Encourage business to manufacture and operate here, and give them tax breaks accordingly.



posted on May, 4 2016 @ 04:11 PM
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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.


Prices would drop. Competition would drive them down. Just think it through. Competitor A decides to pocket the savings from the lower tax rates. Competitor B decides to pass the savings on to consumers. Consumers see the price difference and start shopping more with Competitor B. Eventually, Competitor A has to lower their price to remain competitive or risk going out of business.



posted on May, 4 2016 @ 04:12 PM
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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.


No they wouldn't!

Most of the companies that have left the country were making out plenty well, they just wanted more, pure and simple.

Most of the corporations could already pay much better and still make plenty of profit.



posted on May, 4 2016 @ 04:12 PM
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a reply to: Edumakated

What is to stop a business from increasing the pay of workers to keep them from going to their competitors?



posted on May, 4 2016 @ 04:15 PM
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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.



posted on May, 4 2016 @ 04:20 PM
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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?



posted on May, 4 2016 @ 04:26 PM
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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?


Strike?

Lol, they will just replace you with Mexicans or H1B visas.



posted on May, 4 2016 @ 04:28 PM
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a reply to: John_Rodger_Cornman

It would increase the incentive to increase quarterly profits by exporting jobs by about 40% (if you can save $1M by sending jobs to India, you'll pocket $1,000,000 instead of the current $600,600.)

It would eliminate the need for shell corporations except for strictly illegal and/or "black budget" endeavors.

We would need a lot more tiny little single room offices to serve as foreign corporate headquarters.

Maybe??? ultimately some prices would decrease.

More people would incorporate and serve as idependent contractors, rather than as employees - corporations would prefer this, as there would no longer be any benefit in the Expense of personnel.

Income Tax revenue for the nation would be drastically reduced - we would most likely disband the military, among other things.



posted on May, 4 2016 @ 04:36 PM
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a reply to: John_Rodger_Cornman

Check out this link protection racket



posted on May, 4 2016 @ 04:37 PM
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a reply to: John_Rodger_Cornman

Do not go trying to push logic and common sense on me!
I am exceptionally offended that your OP did not even address how the corporate tax effects blacks, Bernie, or the LBGTXYZ's. You've got some nerve, pal.



posted on May, 4 2016 @ 04:52 PM
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Here is the list of countries according to tax rates:

List of countries by tax rates

Find the countries with zero corporate tax rates, then research whether their quality of life, economy, foreign relations etc. are affected.

For instance:

Cayman Islands:


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]


and so on...



posted on May, 4 2016 @ 04:59 PM
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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?


Nothing is stopping them from paying more. Many companies already pay a premium for employees in certain industries as they compete over workers with their direct competitors.



posted on May, 4 2016 @ 05:14 PM
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originally posted by: roadgravel
Most corps aren't paying that percentage.

Look at what happened in Kansas when taxes were lowered.


Yeah, it's awful there



posted on May, 4 2016 @ 05:17 PM
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The one thing we companies will not do is hire more, increase wages or lower prices. That never happens. Stores increased prices and cut staffing when gas prices were high. Now that they are low they have no lowered prices or hired more people. They max the short term profit because that is what the stock holders want and how CEOs get huge bonuses. Short term profit is so important that it trumps the long term health of a company. Cutting taxes would increase both the dept and corporate profits and that is about it.



posted on May, 4 2016 @ 05:36 PM
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a reply to: John_Rodger_Cornman

Ask kansas how it's working out for that state.



posted on May, 4 2016 @ 05:43 PM
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a reply to: John_Rodger_Cornman

Small business would likely benefit but big business wouldnt gain much as they already have the resources to hide the money. Hence no desire to make taxes simple or null and void.

Plus they would continue to outsource because of cheap slave labor rates with no benefits or labor rights.



posted on May, 4 2016 @ 05:53 PM
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America would have about 400 billion fewer tax dollars to spend each year.

That all sounds all fine and well, until we start arguing about which projects need to be cut, at which point disagreements become insurmountable obstacles. 400 billion is a lot of bread.

How about we cut the corporate tax rate by the same amount that we save when we eliminate corporate subsidies? Then it's a wash.




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