Trump says the US has the highest corporate tax rate in the world. He's wrong.

[Crabtownboy]

When it comes to the business tax we are dead last, can you believe that?” Trump said during his remarks in Springfield, Missouri. “We have totally surrendered our competitive edge to other countries."

But what he doesn’t note is that while on paper the US business tax rate is exceptionally high, in practice the US taxes its businesses at similar rates to its international peers. And so Trump’s dire warnings about the need to lower the business tax code is really part of an effort to push through a gift to American corporations rather than make a serious bid to catch up to the rest of the world.

During his remarks, Trump referred to the US’s 35 percent statutory corporate tax rate. He said that the rate, which is technically one of the highest in the world, suffocates American businesses and compels them to ship jobs overseas.

But that’s inaccurate on a number of levels.

“It’s a bit misleading because our corporate tax code is riddled with loopholes and what corporations pay is far, far lower — somewhere between 13 and 21 percent,” Hunter Blair, a tax and budget analyst at the left-leaning Economic Policy Institute, told me.

“When you get down to specific companies, sometimes they pay 3, 4, 5 percent,” he added.

Trump says the US has the highest corporate tax rate in the world. He's wrong.

 

[church mouse guy]

In order to have big government, you have to have high taxes. If corporate taxes were lowered, and no one says that the rates themselves are not the highest in the world, then the lower classes of deplorables might get a raise and there might be more jobs. If the money trapped overseas could come home cheaply, then there might be prosperity, and prosperity is the enemy of big government. So it is very much in the interest of the Democrats to preserve the status quo--status quo being Latin for the mess that we are in now, huh?

 

[Reynolds]

When it comes to the business tax we are dead last, can you believe that?” Trump said during his remarks in Springfield, Missouri. “We have totally surrendered our competitive edge to other countries."

But what he doesn’t note is that while on paper the US business tax rate is exceptionally high, in practice the US taxes its businesses at similar rates to its international peers. And so Trump’s dire warnings about the need to lower the business tax code is really part of an effort to push through a gift to American corporations rather than make a serious bid to catch up to the rest of the world.

During his remarks, Trump referred to the US’s 35 percent statutory corporate tax rate. He said that the rate, which is technically one of the highest in the world, suffocates American businesses and compels them to ship jobs overseas.

But that’s inaccurate on a number of levels.

“It’s a bit misleading because our corporate tax code is riddled with loopholes and what corporations pay is far, far lower — somewhere between 13 and 21 percent,” Hunter Blair, a tax and budget analyst at the left-leaning Economic Policy Institute, told me.

“When you get down to specific companies, sometimes they pay 3, 4, 5 percent,” he added.

Trump says the US has the highest corporate tax rate in the world. He's wrong.

If the rates were indeed lower in other Countries, why are the corporations "tax sheltering" their income there?? You do not tax shelter in a place that has higher taxes. Sometimes, you just need to think before you post links you have not even read.
My company pays between 36&38%. Then the State gets theirs on top of that.

 

[Crabtownboy]

If the rates were indeed lower in other Countries, why are the corporations "tax sheltering" their income there?? You do not tax shelter in a place that has higher taxes. Sometimes, you just need to think before you post links you have not even read.
My company pays between 36&38%. Then the State gets theirs on top of that.

Because it is legal. It may or may not be legal in other countries, but where it is legal you can bet that companies use it to their advantage. There are legal ways to shelter money. Did you notice that some companies less than 5%. The tax rate does not mean much if you have people who know how to handle and shelter the money. Now, no doubt, large companies with tons of money can shelter it in ways that small companies cannot. Same as rich and not so rich people.

You company needs more knowledgeably folk handling and its money.

 

[Reynolds]

Because it is legal. It may or may not be legal in other countries, but where it is legal you can bet that companies use it to their advantage. There are legal ways to shelter money. Did you notice that some companies less than 5%. The tax rate does not mean much if you have people who know how to handle and shelter the money. Now, no doubt, large companies with tons of money can shelter it in ways that small companies cannot. Same as rich and not so rich people.

You company needs more knowledgeably folk handling and its money.

I know how to shelter it off shore. A business associate told me how he does it in the British West Indes.
The trick to shelterig money in the U.S.A. is never showing profits. I know how to do that, but I also like sleeping good at night with a clear conscience. Barely legal and moral are worlds apart. I do what is moral and ethical instead of doing what is just barely legal.

 

[Crabtownboy]

I know how to shelter it off shore. A business associate told me how he does it in the British West Indes.
The trick to shelterig money in the U.S.A. is never showing profits. I know how to do that, but I also like sleeping good at night with a clear conscience. Barely legal and moral are worlds apart. I do what is moral and ethical instead of doing what is just barely legal.

I understand and agree with you.

 

[TCassidy]

See rev's post at FACT CHECK: Does The U.S. Have The Highest Corporate Tax Rate In The World? to show the untruth of this thread.

 

[church mouse guy]

The fact that companies evade the high rate is actually evidence that the rate needs to be lowered. One California-based international corporation with nearly forty thousand employees recently moved to China to avoid US taxes. Democrat CEOs want to keep wages down and the unfair tax code actually helps because the competition is hamstrung so whoever has the best access to illegal immigrant labor has the best advantage in the market. And the Democrat CEOs have cheap domestic help in their homes and in the stores and service businesses that serve them. This age has a new class of robber barons that include the richest people in the world and in the history of the world. Their money is part of the corruption of the government.

 

[Adonia]

It is time to get rid of our insane and outdated tax system that gives far too much power to one Federal agency. We need either a flat tax where EVERYONE pays the same percentage or the "Fair Tax" where there is a fedetal levy on every purchase.

Either way, the IRS is either severely curtailed on the power they have ( flat tax) or eliminated entirely (fair tax).