Trump has been talking about a 15% rate on small businesses, big businesses and repatriation of offshore money since his campaign. Many called it ambitious, if not ridiculous.
Is it just Trump’s “art of the deal” opening bid?
For cuts of the size Trump envisions, that most likely means they’d have to be temporary, and perhaps very short-lived. On Tuesday, the congressional Joint Committee on Taxation said in a letter to Ryan that a corporate tax rate of 20 percent — five percentage points higher than Trump has proposed — would create deficits in the long run even if it remained in effect for just three years.
Foreshadowing that finding, Ryan’s chief tax counsel, George Callas, told a banking conference in Washington last week that Congress might have to limit a corporate tax rate cut to just two years — if it was part of a plan that didn’t achieve revenue neutrality.
Such a temporary cut would have no effect on business decisions, he said. “It would not cause anyone to build a factory,” he said. “It would not cause anyone to restructure their supply chain.”
It wouldn’t even cause much joy in corporate America, said Albert Liguori, an international tax lawyer and managing director at corporate strategy and turnaround firm Alvarez & Marsal.
“Businesses would rather see the certainty of permanency and be more certain that a tax bill will be passed,” Liguori said. “The 20 percent range — companies would be more than happy with that because it’s reliably in line with other countries.”
Double taxation – corporate tax should be zero. So 15% is not low. But certainly better than 35%.
The smart money is on Trump. I know mine is. I don’t believe a single, solitary thing being promoted or demoted by Ryan.
If Trump can get the Corp tax rate to 15% and we still keep the depreciation schedule for capital equipment, and other deductions that we currently have the effective tax rate will be zero.
The establishment assholes better get on board with a 15% or less corporate tax rate and start removing tax sucking bureaucrats and dismantling bureaucracies, rather then babbling about “revenue neutrality”. That’s just big government doublespeak, and anyone with even a slight knowledge of economic history knows it. They might as well be democrats. The republican party needs purged of fools like that.
Congress can’t borrow money from the Fed and the banking cabal without having a huge corporate tax. They live on rob Peter to pay Paul.
funny the msm hasn’t said a word about deficits for 8 years.
Don’t forget about the Laffer Curve. The lower the tax rate, the lower the incentive to avoid taxes and the more government actually collects. Also, the lower the rate, the more money people and business have to engage in commerce, creating more taxpayers and more tax paying companies.
revenue neutrality really 18 trillion in debt
just cut the Corp Tax rate and cut some damn spending
Ryan is such a loser.
Some good news the horrible Freedom Caucus Member agreed on the revised Obamacare repeal bill! Thank God for the Freedom Caucus.
Oh wait we were told it was the Ryan Bill or nothing??
BREAKING
It’s officially ZERO TAX for me and you
The 15% is President Trump’s trial balloon.
That’s the bait; and Congress will provide the switch.
The Americans will get fucked in the end (take that either way, or either end).
The Leviathan Mega-State cannot operate on the chump-change $Trillions presently being coerced from us. Their greed must consume all.
And besides, a phony economy doesn’t really need a rational basis, does it?
“Bend over and take it like a MAN!”
izlamo delenda est …
God asks ten percent. Gov should not ask for more then nine percent flat, no loopholes nor deductions. Gov completely slashes spending on pograms, yes pograms, that are not enumerated as their responsibilities to the citizenry.
Tax cuts?
I’ll believe it when I see it in the 74,608 pages of the Federal Tax Code.
You need a staff of attorneys to understand it before you know what’s in it.
Get used to being a slave to the state.
Let my people go !
Guam tax rates are based upon US tax rates. I’d
love another tax break, please!