This is the kind of "food fight" that nobody can win. But there is a BIG
difference between the nominal (35%) corporate tax rate and the amount
of taxes actually paid by most corporations. There are loopholes and
deductions in the tax code that make the "effective" tax rate very much
less than the nominal tax rate.
<http://www.reclaimdemocracy.org/corporate_welfare/real_tax_rates_plummet.php>
Mike
John Emmerling wrote:
The whole issue of taxes is complicated if you dig into it very deeply.
At dinner last night, the only known McCain voter at the table, the
part owner of a custom manufacturing business, was complaining
bitterly that high taxes were destroying the entrepreneurial spirit in
our country.
Considering how poorly the US seems to compete economically with other
developed countries these days, I decided to do some research into
comparative tax burdens in different countries. The best information
I could obtain was that the US has very low tax burden as compared to
most other OECD countries, however the US also seems to lead just
about everyone else in the level of corporate taxes. The proof I
offer is the "Corporate tax in the world" graphic in this Wikipedia
article: http://en.wikipedia.org/wiki/Tax_rates_around_the_world.
I know that many list participants are business owners. Just how bad
is the problem? Are the numbers misleading? Why did this happen, and
who is to blame? It seems to me that when Republicans rail against
high taxes, they usually cite income and capital gains taxes as the
primary evil. Why don't they focus more on corporate taxes?
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