0% Corporate Income Tax

An idea sure to be met with cheers and jeers. Most corporations worth their salt don’t pay income tax anyway, and the cost of taxes is often pushed onto the consumer to continually improve the profit margin of the machine.

Though I’ve also read that a 5% tax is optimal in order to retain federal revenue.

Of course loopholes must be eliminated.

Would this improve the economy?

If you agree with such a proposal, would the 0% or 5% be more effective? And are there any caveats you would include?

 

Why not just make a standard tax with no loopholes, say 20%?

No exemptions, no if's and or buts. Every corporation pays that rate off the top.

You made 1000 dollars last year so before you do anything you give us 200 of it.

Could you live with that?

 

I have a phobia over tax, any tax, over 5 percent. More and you love government far too much.

 

20% of my income to pay for those morons?

They should pay me for being complete idiots!

 

Think of government as you think of scraggly looking people shoving grocery carts on the sidewalk who beg you for your money. Would give them even 10 percent of your money?

The bum won't spend the money on bombs nor hand it over to Egypt nor Africa.

 

What do you think of 0%?

 

We are jerking ourselves off by charging a corporation anything.

The actual owners get taxed,. I might later comment on them. But for corporations, no way under GOd do they pay those taxes. It is a secret tax against consumers.

You are walking up to a thief and saying, should we pay you 5 percent of our earnings? The thief will say of course son. Pay me.

 

Ideally I would like to see as low of taxes as possible but its reasonable to expect to pay some.

 

I am certainly no money expert but wouldn't there be a way to set a tax on a corporation based off what they charge the consumer?

Therefore if they attempt to pass that cost on to the consumer they would still pay more in taxes?

 

If Corporations are people,

why do they get a different tax code?

 

I'm not a fan of 0% but I do think we need a serious simplification of the tax code. Maybe 3-5% of profits before disbursements to shareholders.

I also think many of the special carveouts need to.go, like carried interest and deprecation.

 

Where do they get the money from to pay taxes?

 

Corporations pay 0% anyway. Tax is either avoided or paid by the consumer.

 

Corporation owners are people. Tax those 5 percent. Tax the corporations nothing. This a scheme to allow the Feds to tax a source and then tax the owners too.

 

Along with pass through incomes. I’d agree the tax code needs a complete overhaul. But do you think this change would improve the US economy?

 

Corporations are machines.

 

I think that if you produce your product in the U.S., there should be little or no tax on the profits. If an American company produces its product outside of the U.S. - like Nike, for example - they should pay taxes on their profits. If a company produces some of its products in the U.S. and some of its products outside of the U.S. - like Ford for example - then they should be taxed only on the profits made from those products they produced outside of the U.S.

 

I dont think there would be any affect on the overall economy. There would be a slight drop in bond and dividend payouts but the market would adjust to that quickly and easily. The biggest issue would be short term cash shortages while corporations adjust but those can be mitigated or possibly even eliminated with proper notice.

Businessmen can handle.just about anything if they are given time to plan for it. They dont necessarily need any particular environment, they need consistency.

 

Before you answer, wouldn't it be a damned good idea to find things out first?
Who the hell gets the money?
What do they want if for?
Will they keep promises?
What about raises to you later?

Example our bridges in CA. They used to tell us when they were paid for, no more tolls. Then that changed to, we must keep them in decent shape, so low tolls. That changed to ... see that patch of water? A good place for a ferry. So pay tolls on the bridge. ????What about tickets for the boats? Not good enough. Pay bridge tolls, but now the tolls are double.

 

I'm a fan of 0% corporate taxes. BUT, we need other things in place to keep people from becoming a "corporation" just to hide their personal income. Right now, I would rather see reforms on capital gains so that people who's whole income is in long term cap gains pay their fair share. This is what most people don't understand about our tax code and "the rich" You can raise the tax rate on "the rich" to 100% but they'll still pay a measly 15% since it's all in cap gains.

 

I see the logic in that. And It makes a super amount of good sense. This folks kind of takes us back to the era or George Washington and tariffs. Worked very well for a couple hundred years in the USA.

Washington had a major problem. Most goods were not made in the USA. They were made elsewhere. So by taxing them there, factories had a good reason to come here.

 

Only on tax from production of a product,
not "paper pushing profits" ala Wall St. Si?

Profits from product should be treated more leniently.

Possible tax profits from paper against the term length
longer term at a more lenient rate than faster, shorter term holdings.

Tax corporations on the same tax code as people and remove
the untaxed status of those fuzzy corporate funds serving private comforts.

 

So what if it’s paid by the customer, as long as it’s paid should be the goal.

 

And then let them compete to see who can deliver the best for least.
No bail outs.
Take monopoly laws seriously.

 

Just go to the FAIR TAX. Solves so many problems.