If Obama really wanted to fix the jobs problem, he could...

[statman]

I can tell you one sure-fire way to do so - and it would cost a fraction of what "The Stimulus" cost - eliminate corporate taxes. Altogether. From 35% to 0%. I'd even let companies remit profits from abroad with no additional tax. All that money coming back to the US would either be paid as dividends or reinvested - creating more jobs.

In 2008, the IRS collected ~$280 billion in corporate taxes. In 2009 in was less than half of that ($138B). In 2010 they're expecting $176billion. The Stimulus was FIVE TIMES what we took in in corporate taxes in 2009.

My way would work much much better. It would actually create jobs. It would attract foreign investment. It would virtually guarantee an end to the recession.

But it doesn't pay off the political interests of The Left, so it won't even be considered...

[SloanHater]

I can tell you one sure-fire way to do so - and it would cost a fraction of what "The Stimulus" cost - eliminate corporate taxes. Altogether. From 35% to 0%. I'd even let companies remit profits from abroad with no additional tax. All that money coming back to the US would either be paid as dividends or reinvested - creating more jobs.

In 2008, the IRS collected ~$280 billion in corporate taxes. In 2009 in was less than half of that ($138B). In 2010 they're expecting $176billion. The Stimulus was FIVE TIMES what we took in in corporate taxes in 2009.

My way would work much much better. It would actually create jobs. It would attract foreign investment. It would virtually guarantee an end to the recession.

But it doesn't pay off the political interests of The Left, so it won't even be considered...

So you believe in corporate welfare? I bet you're the same person that complains about people not paying taxes and getting food stamps.

[Uncle Ted]

I can tell you one sure-fire way to do so - and it would cost a fraction of what "The Stimulus" cost - eliminate corporate taxes. Altogether. From 35% to 0%. I'd even let companies remit profits from abroad with no additional tax. All that money coming back to the US would either be paid as dividends or reinvested - creating more jobs.

In 2008, the IRS collected ~$280 billion in corporate taxes. In 2009 in was less than half of that ($138B). In 2010 they're expecting $176billion. The Stimulus was FIVE TIMES what we took in in corporate taxes in 2009.

My way would work much much better. It would actually create jobs. It would attract foreign investment. It would virtually guarantee an end to the recession.

But it doesn't pay off the political interests of The Left, so it won't even be considered...

This would give companies no incentive to expand overseas. The USA needs to be a good UN citizen by helping create jobs in other parts of world. Why should all the jobs and profits remain here? All companies need to follow "Do No Evil" Google's example. It is the American thing to do.

[All-American]

I'll admit to being unlearned in this particular area, but corporate taxes don't make much sense to me. Money going to a company is either money which the company pays to somebody as income (which is then taxed), or which it uses to expand its business and ultimately pay somebody as income (which is then taxed). I would welcome any explanation as to why it makes sense to tax income before it makes it to an individual AND after it makes it to an individual.

[statman]

So you believe in corporate welfare? I bet you're the same person that complains about people not paying taxes and getting food stamps.

No, I believe in getting the US out of a deep recession as quickly and cheaply as possible.

Corporations are NOT the enemy. They are the saviors in this situation. Obama has been an absolute idiot for demonizing them...

[SloanHater]

No, I believe in getting the US out of a deep recession as quickly and cheaply as possible.

Corporations are NOT the enemy. They are the saviors in this situation. Obama has been an absolute idiot for demonizing them...

So you believe the US Gov't should provide services and rights to entities that don't pay taxes? You sound like a liberal.

[old_gregg]

But it doesn't pay off the political interests of The Left, so it won't even be considered...

clearly this is the only conclusion. there are no other factors!

[statman]

So you believe the US Gov't should provide services and rights to entities that don't pay taxes? You sound like a liberal.

Actually US corporate profits are currently double taxed. And with that fact in mind, the 35% corporate tax rate in the US is ridiculous and very short sighted. And we wonder why jobs go overseas.

Again, this WOULD create jobs - something that Obama's rescue plan can't really even say clearly. And it does so at a much lower cost than Obama's plan. What's not to like?

[Jacob]

I'd actually prefer to eliminate dividend taxes. But one or the other has to go. I don't think you should eliminate corporate taxes unless you make corporations pass-through tax entities i.e. make them all S-corporations. And that wouldn't make much sense for corporations with a large number of shareholders.

[Moliere]

So you believe in corporate welfare? I bet you're the same person that complains about people not paying taxes and getting food stamps.

Corporate Welfare? I've never heard of that. Could you please expound? I'd like to know how lower taxes to a corporation hurts America.

I'll admit to being unlearned in this particular area, but corporate taxes don't make much sense to me. Money going to a company is either money which the company pays to somebody as income (which is then taxed), or which it uses to expand its business and ultimately pay somebody as income (which is then taxed). I would welcome any explanation as to why it makes sense to tax income before it makes it to an individual AND after it makes it to an individual.

It's a very complex issue that you raise. Typically salaries are tax deductible so you aren't really double taxing that income. Also investments are usually tax deductible, although most investments are deducible over time through depreciation. This is why the extension and increase in the Sec. 179 deduction was a big deal and I'm glad that Obama was pushing for that.

So you believe the US Gov't should provide services and rights to entities that don't pay taxes? You sound like a liberal.

Corporations will still be paying taxes even if income taxes are reduced to $0. They pay federal unemployment taxes, social security and medicare taxes, capital gains taxes, property and ad valorem taxes, sales taxes, etc.

Actually US corporate profits are currently double taxed. And with that fact in mind, the 35% corporate tax rate in the US is ridiculous and very short sighted. And we wonder why jobs go overseas.

Again, this WOULD create jobs - something that Obama's rescue plan can't really even say clearly. And it does so at a much lower cost than Obama's plan. What's not to like?

US corporate profits are only double taxes to the extent they are paid in dividends to shareholders. Financing through debt is not double taxes as interest payments are tax deductible. With interest rates at historic lows, we are seeing much more activity in bonds that before. Corporations are seeking to lock in the low interest rates in anticipation of bond refundings or new issuances. Double taxation of dividends is an issue, but it's always been that way (as long as I can remember) and it is simply a disincentive to do equity financing.

This all begs the question as to why we don't scrap the income tax for a national sales tax. IMO, this would be the best and most fair solution. It would tax the high spenders, encourage Americans to save money, and it could be structured to not be levied on needs and essentials which is how the Texas state sales tax is structured. When I grocery shop in Texas, I can spend $150 and pay no sales tax, which I think is great.

[SloanHater]

Actually US corporate profits are currently double taxed. And with that fact in mind, the 35% corporate tax rate in the US is ridiculous and very short sighted. And we wonder why jobs go overseas.

Again, this WOULD create jobs - something that Obama's rescue plan can't really even say clearly. And it does so at a much lower cost than Obama's plan. What's not to like?

This is why I no longer feel comfortable in the Republican Party. Currently the loudest segment is not the smartest segment. The oversimplification of every issue grates on my nerves.

Have you even stopped to think why the most successful and profitable corporations in the world are located in the US? Could it possibly be the business and legal environment created by the US Gov't and its entities who protect business interests?

I'm not opposed to a reduction in the corporate tax rate, but to eliminate taxes on corporations would shift the tax burden to middle-class taxpayers. Not to mention eliminating the corporate taxes would simply make the US the off-shore headquarters of every business in the world.

I'm guessing you really didn't think through this 'genius' plan of yours.

[Mormon Red Death]

This is why I no longer feel comfortable in the Republican Party. Currently the loudest segment is not the smartest segment. The oversimplification of every issue grates on my nerves.

Have you even stopped to think why the most successful and profitable corporations in the world are located in the US? Could it possibly be the business and legal environment created by the US Gov't and its entities who protect business interests?

I'm not opposed to a reduction in the corporate tax rate, but to eliminate taxes on corporations would shift the tax burden to middle-class taxpayers. Not to mention eliminating the corporate taxes would simply make the US the off-shore headquarters of every business in the world.

I'm guessing you really didn't think through this 'genius' plan of yours.

Ummm that's his point. More headquarters for companies mean more jobs for americans

[Mormon Red Death]

This all begs the question as to why we don't scrap the income tax for a national sales tax. IMO, this would be the best and most fair solution. It would tax the high spenders, encourage Americans to save money, and it could be structured to not be levied on needs and essentials which is how the Texas state sales tax is structured. When I grocery shop in Texas, I can spend $150 and pay no sales tax, which I think is great.

I always knew you were smart!

www.fairtax.org

[SloanHater]

Ummm that's his point. More headquarters for companies mean more jobs for americans

Lol. Well done.