"Just one month from today, the United States will have the highest corporate income tax rate in the developed world, surpassing Japan.

Just one month from today, Japan will lower their corporate income tax rate from 39.5 to 35 percent. When they do so, the United States will officially have the dubious distinction of possessing the highest corporate income tax rate in the developed world, a federal/state integrated rate of 39.2 percent"

Read more: http://www.atr.org/one-month-worlds-high...z1ntnps4rf

We have to fund all those entitlement programs and political giveaways somehow.

We have to pay for King Obama's travel bus (made in Canada), his campaigning, his Statue of Liberty flyby's for picture opportunities, and his multiple vacations and golf outings. Of course, he's worth every bit of his presidential salary simply working one day a year. But you'd think he could write a new State of the Union Address, as he's been proven to be recycling them. Oh well, who has time to write when campaigning and vacationing.

(03-01-2012 05:03 PM)BearChatter v2.0 Wrote:  We have to pay for King Obama's travel bus (made in Canada), his campaigning, his Statue of Liberty flyby's for picture opportunities, and his multiple vacations and golf outings. Of course, he's worth every bit of his presidential salary simply working one day a year. But you'd think he could write a new State of the Union Address, as he's been proven to be recycling them. Oh well, who has time to write when campaigning and vacationing.

Obama has not raised the corporate tax rate... he inherited it. And in fact he is trying to lower it. But lets not let facts get in the way of anything.



To everyone else besides chatter- Corporate Tax rate needs to go down. That said to do it they need to either find offsetting spending cuts or new revenue to pay for it.

(03-01-2012 05:17 PM)bearcatmark Wrote:  To everyone else besides chatter- Corporate Tax rate needs to go down. That said to do it they need to either find offsetting spending cuts or new revenue to pay for it.

If they lower the corporate tax they don't need to get revenue from elsewhere. Higher taxes DOES NOT EQUAL higher revenue. Ask the United Kingdom who just raised their top personal income tax rate to 50% only to see it not produce the revenue it expected to.

(03-01-2012 05:45 PM)RealDeal Wrote:  

(03-01-2012 05:17 PM)bearcatmark Wrote:  To everyone else besides chatter- Corporate Tax rate needs to go down. That said to do it they need to either find offsetting spending cuts or new revenue to pay for it.

If they lower the corporate tax they don't need to get revenue from elsewhere. Higher taxes DOES NOT EQUAL higher revenue. Ask the United Kingdom who just raised their top personal income tax rate to 50% only to see it not produce the revenue it expected to.

I mean it entirely depends on the strength of the economy. If your economy declines after you raise taxes than yea higher taxes won't mean higher revenue, but for instance the raise in taxes during the Clinton years certainly produced higher revenues.

We've done a lot of cutting taxes over the years, all that has happened is deficits continued to rise. I don't want to see tax cuts independent of new revenue or spending cuts to go along with it.

The only way were going to avoid the debt monster is to overhaul the entitlement programs. Raising taxes would do jack ****.

Gradually raise the retirement age for starters.