Peter Whoriskey of the Washington Post apparently thinks he’s stumbled onto something important in Some Companies Pay Their CEOs More than Uncle Sam: It has become a bipartisan article of faith in some quarters that the income tax on U.S. corporations must be lowered. But for many large U.S. companies, the burden of U.S. taxation [...]
Tags: C Corporations · Corporate Tax · Deductible Expenses · Politics of Taxes · Tax Policy
Daniel Mitchell of Cato has a little beauty today titled CAP Leftists Have Accidental Encounter with the Laffer Curve, Learn Nothing: The U.S. corporate tax rate is more than 39 percent and the average corporate tax rate in Europe is less than 25 percent. So let’s ponder these interesting facts. CAP is right that the [...]
Tags: Corporate Tax · Tax Policy
Paul Caron has some big news: Bloomberg, Bill Clinton Backs U.S. Tax Holiday on Foreign Profits, With Caveats: Former U.S. President Bill Clinton endorsed a tax holiday on repatriating offshore profits with conditions, taking a position contrary to the Obama administration. “I favor it under certain circumstances,” Clinton said in an interview with Bloomberg Television’s [...]
Tags: Corporate Tax · International Taxation · News · Tax Policy
Socialist Senator Bernie Sanders has published a guide to corporate freeloaders. These are corporations who made large profits and did not pay any taxes: There is of course a lot missing from this clever little chart. For instance, we don’t know why Congress allowed the tax benefits these entities are taking advantage of to reduce [...]
Tags: Corporate Tax · Opinion · Politics of Taxes · Tax Policy
Martin A. Sullivan (Tax Analysts) has published Why Not Tax Large Pass Throughs as Corporations?, 131 Tax Notes 1015 (June 6, 2011): Most large profitable American businesses must pay the corporate income tax. Others are completely exempt from it. The unfairness of this is so plain even a 5-year-old can understand it. … The essence of [...]
Tags: Corporate Tax · S Corporations
The Huffington Post says protesters are going to march in front of Apple stores today in opposition to it’s tax practices: Protesters are set to visit Apple stores Saturday to oppose the company’s federal tax practices. Apple doesn’t pay its fair share of taxes, and now the technology company is trying to get another tax break, [...]
Tags: Corporate Tax · Politics of Taxes
My favorite economist (what, you don’t have one?) Greg Mankiw posted this interesting fact a few weeks ago: The U.S. effective corporate tax rate on new investment was 34.6 percent in 2010, which was the highest rate in the OECD and the fifth-highest rate among 83 countries. The average OECD rate was 18.6 percent, and [...]
Tags: C Corporations · Corporate Tax · The Economy
