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New Data Debunks Popular Republican Theory


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Lowering Corporate Tax Rate Likely Won't Help The Economy: Study

 

Oh noooooooooooooooooooooooo Mr. Bill.

 

Apple and Google are among the many corporations to have argued that America's high corporate tax rates discourage companies from bringing offshore profits -- and hence jobs -- back home to the United States. Yet after considering several decades of historical data on the U.S. corporate tax rate and economic growth, a new policy brief contends that there is no statistical relationship between the two factors.

 

The country's top marginal corporate tax rate of 35 percent is among the highest in the industrialized world, and many large corporations and lawmakers contend that the high rate curbs growth and encourages companies to exploit tax loopholes.

Yet the effective corporate income tax rate in the U.S., a measure of the taxes a company pays as a percentage of its profit, averaged 27.7 percent from 2006 to 2009. That's very close to the average rate of countries in the Organization For Economic Cooperation during the same period -- 27.2 percent once weighted by GDP -- according to the EPI.

The top 10 most profitable companies in the U.S, including Apple and Exxon Mobil, paid an average tax rate of just 9 percent last year, according to study by website NerdWallet.



Other companies, such as Boeing, CVS Caremark and FedEx, are currently lobbying Washington to lower the corporate tax rate, arguing that the broader economy would benefit as a result. Former American Express CEO Harvey Golub recently went even farther, saying large corporations like Apple should pay no taxes at all.

Meanwhile, corporate profitability is at an all-time high, according to EPI. Before-tax profits rose to 13.6 percent of national income in 2012.

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DOUCHE BAG IS STONED AGAIN,,,,

 

WHERE ARE ALL THE JOBS ASSHAT??

 

 

Response to "High Tax Rates Won't Slow Growth" WSJ article by Diamond and Saez 4.23.2012

OMG! The author is a Nobel laureate! Just like Obama and Al Gore! That changes everything! Obviously MIT is not known for economics and these clowns live in the same Utopia as the first 7, now 8th Ivy League Professor, that Obama has recruited to run his economic team-and we all know how successful they’ve been. The blatant and profound lies printed in this article are so insulting; I'm shocked the WSJ published them. “… There’s no evidence to support a case for lower growth from higher top tax rates."? On the contrary- there is a ton of evidence, many studies and bona fide historic precedent proving that high taxes discourage growth, moreover, there is absolutely ZERO evidence proving otherwise. Do these, double talking, Alphabet Soup, Nobel laureate Leftists truly believe we’re idiots? Are they confusing their audience with a gathering of Obama worshipping academic ideologues? Where are the studies to which they allude and precisely what are the parameters of these specious studies? They brush off Arthur Laffer's fact based work, as if it proves their Utopian fantasy, when in fact it proves just the opposite. There is no evidence? Please! The tax policies implemented by Calvin Coolidge's during his term in office; Ronald Reagan's Tax Policies; JFK's Tax policies; the tax policy implemented during the George W Bush's Presidency, as well the deleterious tax policy changes put into law by his father, Herbert Bush; the economic policies of post World War I Germany; Argentina in the 1970's; Japan from 1970-2012 - all provide vivid examples, demonstrating exactly how high tax margins on what these Marxist clowns refer to as the 1%, decrease tax revenue receipts. The scurrilous 'Sorosesque” authors of this Obama Policy promulgating, propaganda piece, incorporate some of the most common Leftist subterfuge techniques. First, do they ever mention that 67 to 78% of their, so called, 1% are small business filing as S Corps? The same small business which create jobs, give pay increases to employees and always look to expand their businesses? Of course these uses of revenue are trivial compared to the great things Government investments accomplish. Next, they blather about the virtues of public investment and investing in education, as if we were asleep, the last three years, as Obama threw trillions of our tax dollars down this “Government knows best” black hole. Then they revert back to the Left’s standard specious delusion that “America did best when tax rates were 70%to 90%” after WWII. The fact that we had a booming economy from World War II to the mid 1970’s was in spite of the fact that we had ridiculously high income tax rates which were retarding growth. It was the fact that Japan was a cinder, Germany was ruble, England had gone bankrupt and all of Europe was lying on its back after the War. We had zero competition for two and a half decades as a result of the Second World War. We were the only major industrial nation, that wasn’t attacked during the Second World War and that’s why we had unprecedented economic expansion. So it’s completely a red herring to talk about that period as the growth being the result of high taxes, it was in spite of the high taxes. Furthermore, it was because of a historical anomaly which will never happen again.
Finally, it’s important to recognize that these Bozos, like most leftist con-men are mixing apples and oranges, they’re talking about income taxes, when the tax they’re actually talking about (IE) The Buffett Tax, is a disguised capital gains tax. And history is clear -the reason, not just Ronald Reagan, but John Kennedy, asked for and got a reduction in the capital gains tax is that it spurs economic production and it increases the revenues received by treasury.
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DOUCHE BAG IS STONED AGAIN,,,,

 

WHERE ARE ALL THE JOBS ASSHAT??

 

 

 

 

Response to "High Tax Rates Won't Slow Growth" WSJ article by Diamond and Saez 4.23.2012

 

 

 

 

OMG! The author is a Nobel laureate! Just like Obama and Al Gore! That changes everything! Obviously MIT is not known for economics and these clowns live in the same Utopia as the first 7, now 8th Ivy League Professor, that Obama has recruited to run his economic team-and we all know how successful theyve been. The blatant and profound lies printed in this article are so insulting; I'm shocked the WSJ published them. Theres no evidence to support a case for lower growth from higher top tax rates."? On the contrary- there is a ton of evidence, many studies and bona fide historic precedent proving that high taxes discourage growth, moreover, there is absolutely ZERO evidence proving otherwise. Do these, double talking, Alphabet Soup, Nobel laureate Leftists truly believe were idiots? Are they confusing their audience with a gathering of Obama worshipping academic ideologues? Where are the studies to which they allude and precisely what are the parameters of these specious studies? They brush off Arthur Laffer's fact based work, as if it proves their Utopian fantasy, when in fact it proves just the opposite. There is no evidence? Please! The tax policies implemented by Calvin Coolidge's during his term in office; Ronald Reagan's Tax Policies; JFK's Tax policies; the tax policy implemented during the George W Bush's Presidency, as well the deleterious tax policy changes put into law by his father, Herbert Bush; the economic policies of post World War I Germany; Argentina in the 1970's; Japan from 1970-2012 - all provide vivid examples, demonstrating exactly how high tax margins on what these Marxist clowns refer to as the 1%, decrease tax revenue receipts. The scurrilous 'Sorosesque authors of this Obama Policy promulgating, propaganda piece, incorporate some of the most common Leftist subterfuge techniques. First, do they ever mention that 67 to 78% of their, so called, 1% are small business filing as S Corps? The same small business which create jobs, give pay increases to employees and always look to expand their businesses? Of course these uses of revenue are trivial compared to the great things Government investments accomplish. Next, they blather about the virtues of public investment and investing in education, as if we were asleep, the last three years, as Obama threw trillions of our tax dollars down this Government knows best black hole. Then they revert back to the Lefts standard specious delusion that America did best when tax rates were 70%to 90% after WWII. The fact that we had a booming economy from World War II to the mid 1970s was in spite of the fact that we had ridiculously high income tax rates which were retarding growth. It was the fact that Japan was a cinder, Germany was ruble, England had gone bankrupt and all of Europe was lying on its back after the War. We had zero competition for two and a half decades as a result of the Second World War. We were the only major industrial nation, that wasnt attacked during the Second World War and thats why we had unprecedented economic expansion. So its completely a red herring to talk about that period as the growth being the result of high taxes, it was in spite of the high taxes. Furthermore, it was because of a historical anomaly which will never happen again.

Finally, its important to recognize that these Bozos, like most leftist con-men are mixing apples and oranges, theyre talking about income taxes, when the tax theyre actually talking about (IE) The Buffett Tax, is a disguised capital gains tax. And history is clear -the reason, not just Ronald Reagan, but John Kennedy, asked for and got a reduction in the capital gains tax is that it spurs economic production and it increases the revenues received by treasury.

 

Dayum. That's longer than ES can read so just expect an ad hominem attack for a response.... :lol:

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The idea that companies could be induced to create jobs by lowering their tax burden seems unlikely on the face of it. It's not as though Google or (especially) Apple are motivated solely by vulgar concerns about profit.

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