I find that It is humorous, when we see liberals trying to raise corporate income taxes, after we see companies like AAPL paying 10% income tax. Its almost as if they believe we are somehow going to figure out a way to grab a bigger share of Appleâs profits by raising their taxes. Based on the global economy with countries competing against, each other we are in a race to 0% corporate income tax, companies are just going from one country/state to another until they achieve the lowest rate. The days of big government liberals being able to take an ever larger share of corporations profits are long gone. We need to completely reform the tax code in order to reflect the reality of a global economy, otherwise we are going to be left in the dust. If we continue to demand 35% we are goners, there is a mass exodus going on amongst American business right now, and if we donât fix the tax code, we are screwed.
I'd like to see a flat tax, or national sales tax, with zero income and corporate tax. Heck, most Fortune 100 pay little-to-no tax already.
I agree a VAT tax, or consumption tax is the only way to fix the system in a global economy.... Bottom line is we are in a race with every other country to 0% corporate income tax, so we may as well go there and fix it.
It's true. Zero tariffs against third-world producers assures manufacturers relocate offshore, and then eventually headquarter in a low tax jurisdiction. Low taxes are fine, but we can't tax revenue by competing with other nations that drop their pants. Race to the bottom. Prisons dilemma etc. Better to capture it when it's spent, which creates wealth anyway, by reducing the overall burden on producers and saves 400 Billion a year in compliance costs. Imagine a 5% national sales tax, and a 5% state tax. Why can't we move to a system like that? For all his faults, Herman Cain was right, in principle, about stream-lining the tax code.
Great, just what we need, more ways to tax us. No thank you. Unless you amend the Constitution to ban income taxes, we will end up with both VAt and income taxes. like they do in Europe. Why not instead drop out of the whole free trade scenario, which has been pretty much a disaster for american workers? Instead, enact fairly stiff import taxes. We are a big country with a broadly based economy. We can do quite well on our own. If countries want to trade with us, they'll do it on our terms or not at all. You know, kind of lke China dictates now. The one good idea Santorum had was a zero percent tax on manufacturing. It's a lot better to have zero tax and a lot of companies employing people who pay taxes than a high rate and no taxpayers. Hard for liberals to understand that kind of logic.
Taxes limited to consumption would adversely and disproportionately affect the poor, who spend all or most of their income on life's basic necessities.
And the reason Apple's rate is so low is because they overseas the profits. Walmart for instance pays a much higher rate. It's these overseas shelters that must be addressed. Corporate tax rates should never be zero. Especially in these days of corps being people. Corps use our national infrastructure and services just as people do, thus they must be taxed