ST Alpha - "This is why despite the distatefulness of it, I'm in favor of significantly lowering corporate tax rates." (Reading a Post)

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This is why despite the distatefulness of it, I'm in favor of significantly lowering corporate tax rates.

Posted by pmb (aka pmb) Oct 19 '11, 14:17

Unlike other taxes, this is a competition issue. We're getting nothing from companies because they're moving elsewhere for lower taxes. We're just not competitive on the issue. I'd rather get what the market bears than get nothing because we don't like lowering the tax on principle.

Responses:

[deleted] 8
- I think lowering it to 15% or so is probably right. - pmb Oct 19, 14:26 7
  - [deleted] 6
    - In the 60 Minutes piece it went to towns in Switzerland and Ireland where major US companies are "organized" to avoid US taxes. - pmb Oct 19, 14:32 5
      - [deleted] 4
        
        Probably not, but I think we're cutting off our nose to spite our face on this one. - pmb Oct 19, 14:36 3
        
        [deleted] 1
        
        Agreed. But when you see GE paying $0 in federal income taxes, this is a big reason why. I suspect that we're leaving a huge amount on the table. - pmb Oct 19, 14:49
        
        except, it's not 35% of nothing. -- nm - znufrii Oct 19, 14:38

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This is why despite the distatefulness of it, I'm in favor of significantly lowering corporate tax rates.

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