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Corp tax break?
Tweet Topic Started: Jul 31 2013, 06:50 AM (16 Views)
IUCOLTFAN Jul 31 2013, 06:50 AM Post #1
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http://www.weeklystandard.com/blogs/obama-top-tax-rate-should-be-28-corporations-40-small-business_742312.html

Why does he feel we need to cut corp tax rate now? Is this for the corps without the "good accountants" as he calls them? Will he cut the loopholes that allow Google, Microsoft, GE, etc....to get away with paying next to nothing?
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Mr Gray Jul 31 2013, 08:28 AM Post #2
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IUCOLTFAN
Jul 31 2013, 06:50 AM
http://www.weeklystandard.com/blogs/obama-top-tax-rate-should-be-28-corporations-40-small-business_742312.html

Why does he feel we need to cut corp tax rate now? Is this for the corps without the "good accountants" as he calls them? Will he cut the loopholes that allow Google, Microsoft, GE, etc....to get away with paying next to nothing?
colt, I'm not sure how entrenched you are in tax code, but let me tell you this for sure.....as it sits right now, the top corporate rate is virtually meaningless without ACTUAL deduction/selective credit (also referred to as loopholes) reform.
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The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism.
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IUCOLTFAN Jul 31 2013, 08:42 AM Post #3
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Mr Gray
Jul 31 2013, 08:28 AM
IUCOLTFAN
Jul 31 2013, 06:50 AM
http://www.weeklystandard.com/blogs/obama-top-tax-rate-should-be-28-corporations-40-small-business_742312.html

Why does he feel we need to cut corp tax rate now? Is this for the corps without the "good accountants" as he calls them? Will he cut the loopholes that allow Google, Microsoft, GE, etc....to get away with paying next to nothing?
colt, I'm not sure how entrenched you are in tax code, but let me tell you this for sure.....as it sits right now, the top corporate rate is virtually meaningless without ACTUAL deduction/selective credit (also referred to as loopholes) reform.
I agree totally. Basically, it appears to me, he is just talking to be talking. The tax code is used as a political football. I'm convinced that neither party wants to see it "fixed".
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