General Discussion

JoePhilly

(27,787 posts)

35. What if the "tax cut" actually increases the effective tax rate?

Tue Jul 30, 2013, 01:11 PM

Jul 2013

This is the reason the GOP is saying NO.

While the official corporate tax rate is 35%, no corporation pays anywhere near that rate. With deductions and loopholes, they pay around 20% usually lower.

And so, if you (a) cut the rate to 28%, and (b) remove those deductions and loopholes, the effect is a net tax increase.

As you might be aware, Senator Ron Wyden gets lots of praise here on DU ... he proposed lowering the corporate tax rate to 24% while closing the loopholes and deductions for the same reason.
http://www.taxpolicycenter.org/taxtopics/Wyden-Gregg-Tax-Reform-Tables.cfm

From that proposal ...

On the corporate and business side, the proposal would replace the graduated corporate rate structure with a flat rate of 24 percent, reduce or eliminate many business tax preferences, and allow unlimited expensing of equipment and inventories for small businesses.

Was Wyden wrong too?

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President Obama has been offering concessions to the Republicans [View all] cali Jul 2013 OP

Don't you mean to the Rich? Coyotl Jul 2013 #1

no, I mean the republicans in Congress. I didn't think that I needed to cali Jul 2013 #4

You just don't understand 3D Chess Capt. Obvious Jul 2013 #2

Or more accurately AgingAmerican Jul 2013 #84

It's never "pointless" if it realizes the goal of those who run our world. Trillo Jul 2013 #3

He should go close the drapes in the oval office. JoePhilly Jul 2013 #5

When did the choices become 'do nothing' or 'repeat the same failed actions endlessly'? Bluenorthwest Jul 2013 #6

Those aren't the choices. JaneyVee Jul 2013 #8

They are the choices as presented by the other poster, nice to see you agree with me that Bluenorthwest Jul 2013 #11

What actions won't fail with this Congress?? ... please be specific. JoePhilly Jul 2013 #16

Standing his ground for once AgingAmerican Jul 2013 #18

That's a bumper sticker, not a proposal. JoePhilly Jul 2013 #19

Do you think he should capitulate... AgingAmerican Jul 2013 #21

Obama stood his ground and allowed the sequester. JoePhilly Jul 2013 #22

He 'stood his ground' and AgingAmerican Jul 2013 #23

Actually, folks around here said he'd CAVE and prevent JoePhilly Jul 2013 #24

He was tricked by the GOP AgingAmerican Jul 2013 #25

Finally ... you want no deal of any kind and a government shutdown. JoePhilly Jul 2013 #28

No more deals with the sociopathic GOP AgingAmerican Jul 2013 #30

That's fine ... JoePhilly Jul 2013 #33

No AgingAmerican Jul 2013 #37

How exactly was Obama supposed to do that? JoePhilly Jul 2013 #38

It is known as the AgingAmerican Jul 2013 #42

That article doesn't say what you think it says. JoePhilly Jul 2013 #43

It also talks about him using the bully pulpit successfully AgingAmerican Jul 2013 #46

Right ... and Obama was going to talk this congress into JoePhilly Jul 2013 #47

He didn't have 'this congress' when he came into office AgingAmerican Jul 2013 #50

This message was self-deleted by its author ljm2002 Jul 2013 #48

Let's start with your likely accurate belief that anything he proposes will fail. Jackpine Radical Jul 2013 #53

Why? … 1StrongBlackMan Jul 2013 #61

Failing in Congress can be a positive if the American People see Obama standing for them ... Scuba Jul 2013 #69

I disagree ... 1StrongBlackMan Jul 2013 #71

Please explain how the Prez's endorsement of chained CPI makes things better? Scuba Jul 2013 #72

Do I have to go over this again? ... 1StrongBlackMan Jul 2013 #75

Your very first premise is wrong ... Scuba Jul 2013 #76

Well ... 1StrongBlackMan Jul 2013 #83

What people tell pollsters about Congressional approval is far different than what they feel ... Scuba Jul 2013 #85

Oh, I see ... 1StrongBlackMan Jul 2013 #88

I never claimed polls are facts (or not). Discounting the idea that Obama has turned off .... Scuba Aug 2013 #89

No ... 1StrongBlackMan Aug 2013 #90

Please link to any post I made that says "(President) Obama Bad" or similar... Scuba Aug 2013 #91

Okay n/t 1StrongBlackMan Aug 2013 #92

Nailed it. If the American People saw Obama standing for them .... Scuba Jul 2013 #70

His budget proposals have been trimed by 10%+ every time. joshcryer Jul 2013 #73

But he hasn't even picked out the drapes yet Capt. Obvious Jul 2013 #10

When "doing anything" is tax cuts for our corporate "persons" - TBF Jul 2013 #34

What if the "tax cut" actually increases the effective tax rate? JoePhilly Jul 2013 #35

The latest in the NYTimes - TBF Jul 2013 #39

My guess is that ... JoePhilly Jul 2013 #41

Obama has also pointed out that he'd use the funds from corporate tax reform maui902 Jul 2013 #66

Agree. nt JoePhilly Jul 2013 #80

Except Obama's approval rating is about 5x higher than the Republicans. JaneyVee Jul 2013 #7

and what has that achieved for the people? cali Jul 2013 #12

111th congress was most productive since LBJ. 112th and 113th? Not so much. JaneyVee Jul 2013 #14

This message isn't heard loud enough. joshcryer Jul 2013 #74

My 17 year old neice, who had cancer at 2, now gets full coverage. JoePhilly Jul 2013 #20

Oh, that? … 1StrongBlackMan Jul 2013 #62

Yep. Much better we should stand on principal! treestar Jul 2013 #82

the people are the same ones polled for the approval rate nt treestar Jul 2013 #81

This isn't a sporting event. Marr Jul 2013 #13

It is a sporting event. It's the republican hunger games we're preventing. JaneyVee Jul 2013 #15

But look at the bright side cthulu2016 Jul 2013 #9

OMG siding with republcans is evil don't you know. feel free to kick your own thread often lol nt msongs Jul 2013 #17

It's all Kabuki now with President Obama till the end of his term. Safetykitten Jul 2013 #26

And then 8 more years with Hillary as President. JoePhilly Jul 2013 #29

here comes the new boss same as the old boss..... dembotoz Jul 2013 #31

and complaining is easier than doing anything else. JoePhilly Jul 2013 #32

Resistance TBF Jul 2013 #36

Our system requires compromises (call them concessions) to work. Agnosticsherbet Jul 2013 #27

Popcorn, cotton candy, corn dogs? Puzzledtraveller Jul 2013 #40

Especially when Obama's determination to implement the TPP shows just how concerned forestpath Jul 2013 #44

Question: Would not this deal be unaffected by the TPP? 1StrongBlackMan Jul 2013 #63

Since the TPP will pretty much turn US sovereignity over to corporations I don't forestpath Jul 2013 #67

Okay ... 1StrongBlackMan Jul 2013 #68

Not only is it wrong, but Congress should be held criminally liable Rex Jul 2013 #45

Agreed +1 n/t louslobbs Jul 2013 #54

It just seems to be who he is n2doc Jul 2013 #49

It has been like that … 1StrongBlackMan Jul 2013 #64

Isn't that the truth davidpdx Jul 2013 #78

Well, that comes as a complete no surprise at all. nt Deep13 Jul 2013 #51

Maybe he should stop digging. AnotherMcIntosh Jul 2013 #52

A site you frequent often? snooper2 Jul 2013 #55

Nope. Never have. I found it on Google Images. Try Google yourself. AnotherMcIntosh Jul 2013 #56

I do all the time, but check the source snooper2 Jul 2013 #57

The source is Brian Farrington, a cartoonist. His cartoons are retrieved by Google and are AnotherMcIntosh Jul 2013 #59

that's cool, I'm over it LOL snooper2 Jul 2013 #60

Perfect cartoon n/t Catherina Jul 2013 #77

Are you suggesting he should behave as badly as they? n/t pnwmom Jul 2013 #58

Message auto-removed Name removed Jul 2013 #65

There's no excuse for it. The point of doing that is to lower the negotiation starting point Catherina Jul 2013 #79

Doing the same thing over and over again and expecting a different result . . . markpkessinger Jul 2013 #86

The problem is that the Republican party Harmony Blue Jul 2013 #87