CFP: Currently, the United States “enjoys” a 39.1% corporate tax rate – the third highest corporate tax rate on Earth, and the highest in the Western world. Donald Trump has announced that he’d like to see that burden cut to 15%. Personally, I’d like to see it dropped to zero – or at least tied with Ireland’s 12% – but I’ll take what I can get. Already, Dems are pushing for something closer to 25-30%.
Given the incredible weakness displayed by congressional Republicans on ObamaCare, I’m forced to wonder if we’ll see any cut at all. The way things are going the GOP might decide to raise it.
Meet Congressman Tim Ryan, (D-OH). He said the following during an interview with Fox Business host Neil Cavuto:
“If he’s looking for Democratic support from guys like me, you need tax simplification. The code is way too complicated at this point. It’s too hard for businesses. I think it’s too much of a burden on smaller businesses. I would support a reduction of the corporate tax rate, so that those small businesses could have an opportunity – “
Cavuto interjected, asking “Would you be for them getting as low as the president wants to get them, to 15 percent?”
“Yeah, I think that’s an appropriate number. Yeah. …Look, in places like Youngstown and Akron, Ohio, we need investors. We need people to make investments in our community to hire the workers that we all talk about so much and you can’t love the employee and hate the employer. So you need to keep business taxes low – you need to keep the code simplified.”
Even 10% of Democrats understanding economics, hahahahahahah *cough* hahahahaha…
We’re about to learn of Tim’s Messy Divorce/Shady Finances/Tax Delinquency/ Adulterous Affair//Opioid Addiction/Child Porn…
…Botched Robbery Victim if it comes to that.
If Timmy is that interested in getting the economy going he should break rank and help replace Obama Care.
I have learned that, besides Trump, Republicans stand for nothing.
They go into a conference and decide who are the safest Republicans needed to vote against Republican legislation, decide who votes “no”, then tell their voters, “Ooooo, so close! Almost passed a bill that time, sorry!”
A ‘common sense democrat–what a find!?!
The effective corporate tax rate is around 15%. As it is, because of loopholes, many large multi-national corporations actually receive tax refunds and have been for years. Trickle down economics, something that has been tried before, is a disaster. The tax cut the Republicans are proposing via their one page joke a few months ago will yield a tax break for the middle class of $40 per year and will yield a tax break for the top 1% of $250,000 per year.
Time to wake up and look at the facts. By the way, as a progressive, I will tell you this – Tim Ryan just destroyed his political career. He’s all done.