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originally posted by: AugustusMasonicus
originally posted by: seasonal
I seriously doubt that the equation is as easy as each of us keyboard warriors think it is.
The point is they wouldn't need to explore these options if our corporate rate wasn't insane.
Who it really hurts are small businesses that cannot invert or employ an army of lawyers and accountants to help find these loopholes or negotiate the deals.
originally posted by: schuyler
BECAUSE the Federal tax rate for corporations is among the HIGHEST of any country at 35%. If you want productivity to rise, you cut taxes. Who do you think actually pays "corporate taxes"????? We do. Raise corporate taxes and the price of the product goes up a like amount. Pretty simple, really. When you raise taxes the government gets bigger. The government has never met a tax it doesn't like.
I would like to see all corporate taxes abolished of just have a simple flat rate national sales tax.
It's easy to think that the stock market is the playground of hedge funds and day traders, but in reality most of the stock market is owned by the average joe.
In fact, the largest chunk is doing one thing: helping people retire.
In a white paper, Steven Rosenthal and Lydia Austin of the Tax Policy Center have broken out exactly which kind of investors own the stock market. They found that a majority of corporate stock is owned by different types of retirement plans, the largest being IRAs and defined-benefit plans.
Without the loopholes, even with lower taxes they would still pay a bit more and all pay the same.