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  1. #1
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    Why do liberals not understand the corporate tax rate?

    Reality and facts are that we went from 37% tax rate, they tax every corporation in American at that rate.

    Changed to 27% and its high/middle but not the highest in the world.


    Example of a low tax rate. Ireland 14%


    So the liberals argue that our tax rate is a give away to the top 1%, and its bad for the middle class.

    How i see it, if you have the highest tax rate then jobs will move overseas. I experienced this first hand. I worked for a biotechnology company, they moved manufacturing to Ireland and Brazil, because they could save hundreds of millions in taxes. While thats good for the stock prices that killed several thousand very lucrative jobs. All through this we saw first hand the working conditions in Ireland, and SA. They were abysmal compared to those in the US.

    Raise the corporate tax rate, lose jobs, lower it and you'll see jobs move right back in.

    Thats why our unemployment dropped so drastically. But supposedly trumps giving his billionaire buddies a tax break according to the low iq group.


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    Registered User tripod29's Avatar
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    Savannah Guthrie made it known to the world that libs are illiterate when it comes to finance.
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    lol, the tax is passed on to the consumer so it is really just another tax on the poor and middle class. The corporate tax rate should be 0%.
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    liberal Democrats have zero understanding of accounting. You increase the corporate tax, second and third order effects: 1) firms increase prices to consumers and other businesses, 2) shareholders get lower after-tax return, 3) employees for that business get lower pay due to less capital stock for investment to increase productivity.
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    Maybe to expand on my point, would you rather manufacture at a low tax rate in China to save a buck, or have competent people perform manufacturing in the US?

    It doesn't matter for garbage like trinkets or other stuff that you don't expect to last, vs something like pharmaceuticals that I'd trust way more out of the US. Thats why the tax cuts brought jobs back.
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    Registered User DukeOfWoodBerry's Avatar
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    Originally Posted by chaunce54 View Post
    lol, the tax is passed on to the consumer so it is really just another tax on the poor and middle class. The corporate tax rate should be 0%.
    That's not how it works lol. You don't understand economics or finance.
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    Originally Posted by Dan3582 View Post
    liberal Democrats have zero understanding of accounting. You increase the corporate tax, second and third order effects: 1) firms increase prices to consumers and other businesses, 2) shareholders get lower after-tax return, 3) employees for that business get lower pay due to less capital stock for investment to increase productivity.
    1 and 3 are wrong.
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    Because there's a lot more to consider than just taxes when choosing where to do business. Otherwise why not just move to the countries with 0% corporate rates?

    On a grand scale there isn't a significant difference in employment due directly to increasing taxes on corporations. Many small/growing corporations run net losses and don't pay taxes anyway, and the profitable large corporations are able to take the hit, although a lot of it is dodged anyway from tax credits and other incentives. The data really doesn't show a big difference in taxes being passed down to the employee either. And cutting them a whopping 14% at the federal level didn't even affect wages that much, if at all. Share buy backs helped people who already held stock in the company to a small extent I suppose.
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  9. #9
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    Originally Posted by chaunce54 View Post
    lol, the tax is passed on to the consumer so it is really just another tax on the poor and middle class. The corporate tax rate should be 0%.
    so a higher corporate tax, they move jobs overseas and lose jobs and you get a lower price.


    Only when they choose to stay, then you may pay more but you're supporting your neighbors job and our economy. The bottom line is many leave for a lower tax burden, so more often you just have fewer jobs.
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  10. #10
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    Originally Posted by DukeOfWoodBerry View Post
    1 and 3 are wrong.
    All academic accounting research says so. I'm a double major in economics and accounting, licensed CPA accountant, 10 years at big 4 accounting firm. You're dead wrong. You will encourage firms to do more transfer pricing abroad to a subsidiary firm. Do you have even know what transfer pricing accounting is?
    Last edited by Dan3582; 10-30-2020 at 01:39 PM.
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  11. #11
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    Originally Posted by Dan3582 View Post
    liberal Democrats have zero understanding of accounting. You increase the corporate tax, second and third order effects: 1) firms increase prices to consumers and other businesses, 2) shareholders get lower after-tax return, 3) employees for that business get lower pay due to less capital stock for investment to increase productivity.
    more frequently they will move operations overseas, thats what saves them the most money and highest return to the stock holders. The only losers are the Americans that wouldve had a job prior to that.
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  12. #12
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    I work in accounting an literally everyone in the office is a rep. We all had a good laugh about the Trump tax return “scandal”
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    You don't have to move very many jobs overseas to pay tax overseas. You move your registered office to a low tax country and fk around with cross charging and all sorts of other crap, so that the locations where all the money is made and workers are located, e.g. the US, show no profit, and all the profit is shown for the registered office in the low tax area.

    You physically move jobs for cheap labour.

    You legally and electronically move profits for low taxes.
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    There is a reason why the stockmarket shot up as soon as news hit that Trump was elected. And it will do it again once hes reelected. Stocks right now are pricing in the possibility of a Biden administration, and the fact that that taint licking, kiddy diddler, would subject our country to ANOTHER shutdown, if elected.
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    Originally Posted by Jrd86 View Post
    There is a reason why the stockmarket shot up as soon as news hit Trump was elected. And it will do it again once hes reelected. Stocks right now are pricing in the possibility of a Biden administration, and the fact that that taint licking, kiddy diddler, would subject our country to ANOTHER shutdown, if elected.
    I don't think this is true. Even Goldman Sachs had released a forecast that preferred Biden being president, I believe due to the trade stuff.
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    Originally Posted by LeftistGent View Post
    I don't think this is true. Even Goldman Sachs had released a forecast that preferred Biden being president, I believe due to the trade stuff.
    Goldman Sachs is always wrong. No one in the accounting world pays attention to them.
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    Originally Posted by LeftistGent View Post
    I don't think this is true. Even Goldman Sachs had released a forecast that preferred Biden being president, I believe due to the trade stuff.

    They loved Hilary as well
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    Not to mention 99.7% of corporations are small business. Libs think raising corporate taxes and regulations are good because it hurts the massive corporations when in actuality it bankrupt small business while big business can afford it and monopolize.
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    Originally Posted by Ephedra View Post
    Not to mention 99.7% of corporations are small business. Libs think raising corporate taxes and regulations are good because it hurts the massive corporations when in actuality it bankrupt small business while big business can afford it and monopolize.
    Companies like Amazon pay little to no corp. taxes because they can exploit the tax loopholes that small businesses can't. Just another reason to have no corporate tax...
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    They also don't understand double taxation when they complain about capital gains rates being lower.
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    Originally Posted by Bluestar92 View Post
    I work in accounting an literally everyone in the office is a rep. We all had a good laugh about the Trump tax return “scandal”
    Yup, almost everyone that works in accounting is a conservative, regarding taxes and regulations.
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    It's it just simple economics that higher taxes= higher costs of production = lower supply = higher prices (assuming demand stays constant). Lefties sure talk about being smart and science and all that, but really they dont understand basic concepts of economics or science.
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    Originally Posted by DukeOfWoodBerry View Post
    That's not how it works lol. You don't understand economics or finance.
    Why don't you tell us why gas prices are higher in California than Texas then?

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    Originally Posted by Dan3582 View Post
    All academic accounting research says so. I'm a double major in economics and accounting, licensed CPA accountant, 10 years at big 4 accounting firm. You're dead wrong. You will encourage firms to do more transfer pricing abroad to a subsidiary firm. Do you have even know what transfer pricing accounting is?
    Transfer pricing is illegal when you used to manipulate the tax burden. Just need the IRS to crackdown. Of course big companies are always going to use loopholes, sometimes illegal. But taxes are determined after profit. Corporations charge the price that maximizes profit so it shouldn't be affected without illegal stuff like you're talking about.

    Increased productivity hasn't been leading to increased wages over the past 40 or so years.
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    Originally Posted by jlick View Post
    It's it just simple economics that higher taxes= higher costs of production = lower supply = higher prices (assuming demand stays constant). Lefties sure talk about being smart and science and all that, but really they dont understand basic concepts of economics or science.
    This a tax on net income. Literally has nothing to do with higher costs of production.
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    Originally Posted by DukeOfWoodBerry View Post
    Transfer pricing is illegal when you used to manipulate the tax burden. Just need the IRS to crackdown. Of course big companies are always going to use loopholes, sometimes illegal. But taxes are determined after profit. Corporations charge the price that maximizes profit so it shouldn't be affected without illegal stuff like you're talking about.

    Increased productivity hasn't been leading to increased wages over the past 40 or so years.
    Your macro econ class failed you. Or you never paid attention. Or you didn’t even take Econ bc you never went to college. Which is it?
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    Originally Posted by DukeOfWoodBerry View Post
    This a tax on net income. Literally has nothing to do with higher costs of production.
    ok well in that case, businesses will do what they can to increase their bottom line. Lower expenses and create revenues. Either way, what exactly are you arguing here? that we should have a corporate tax? or that it should be higher? or that it should be lower?
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    Originally Posted by rhadam View Post
    Your macro econ class failed you. Or you never paid attention. Or you didn’t even take Econ bc you never went to college. Which is it?
    Lol psych major. Every retarded girl's major and you're like 35 but look 45.

    Learn how to read financial statements and how taxes effect them. They come into play after net income, meaning they only effect what goes into retained earnings. For some reason you have some kind of misconception that you're intelligent when you have an average IQ at best.
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    Originally Posted by jlick View Post
    ok well in that case, businesses will do what they can to increase their bottom line. Lower expenses and create revenues. Either way, what exactly are you arguing here? that we should have a corporate tax? or that it should be higher? or that it should be lower?
    Taxes on net income have no effect on revenues or expenses. Revenues-expenses=net income. Then comes the corporate tax rate. I'm fine with a low tax rate as long as we have policies in place to ensure a tight labor market. Just correcting the misconceptions.
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