Obama Offers to Cut Corporate Tax Rate to 28%

Wed, 02/22/2012 - 01:02 EDT - NY Times

Republicans and business groups complain that the 35 percent corporate tax rate is among the highest in the world, leaving American companies at a disadvantage.

Original article
Login or register to post comments

Fiscal Cliff Talks Stall as Obama Threatens Veto; Name-Calling Begins; Showdown Over "Plan B"; Obama's Fantasyland Statements
"Fiscal Cliff" Talks Turn Sour Yesterday, the sides were so far apart on critical issues that I wondered how a deal could be made in two days. The market saw it otherwise, mainly on hype Obama Offers Concessions Regarding Tax on Wealthy. Today is a different story as "Fiscal cliff" talks turn sour, Obama threatens veto.
There Are Only Three Options For The US To Cut Corporate Tax Rates
Tax reform is one of the few things in Washington these days on which Republicans and Democrats both agree is worth doing. Especially at this time of year, when taxpayers are struggling to file their tax returns, it’s not hard to get applause for promises to make the tax system fairer and simpler. Converting this widespread bipartisan desire into legislation, however, is another matter.
Obama proposes to cut corporate tax rate to 28%
President Barack Obama's administration on Wednesday unveiled plans to lower the top corporate tax rate to 28 percent and choke off lucrative loopholes, an election-year gambit testing Republicans' pro-business credo.Doubling down on his pledge to build an economy based on "fairness," Obama's lieutenants rolled out a plan that would lower the nominal business tax rate from 35 percent, but rake in more revenue by ending dozens of tax breaks and subsidies.
OECD figures shed light on tax haul
Recent financial data from the OECD countries showed that the implemented austerity measures and higher corporate taxes has actually harmed countries, decreasing the amount of fresh foreign investments, reported Financial Times.
OECD urges tax avoidance clampdown on multinationals
Deja Vu: Obama Revives Fake Plan to "Eliminate Tax Breaks for Companies Shipping Jobs Overseas"
Is it an election year already? It must be, because President Obama is once again trotting out his campaign-approved, focus-group-tested "plan" to punish mean ol' American companies who engage in "outsourcing." Bloomberg gives us the utterly unsurprising news:
Report: Hard to cut corporate taxes to 25 percent (AP)
AP - A preliminary report by Congress' revenue scorekeeper suggests that it would be hard for Republicans to attain their goal of lowering the top corporate tax rate to 25 percent if they want to pay for it solely by eliminating business tax breaks.
High U.S. Corporate Tax Rate a Barrier to Economic Growth?
David Hunkar submits: The U.S. has one of the highest corporate tax rates in the world. Only Brazil, Uzbekistan, Chad and Argentina have higher corporate tax rates than the U.S. According to a research study by the Cato Institute, the effective U.S. corporate tax on new investment was 34.6% in 2010. This was higher than the average OECD rate of 18.6% and the average rate for 83 countries at 17.7% as shown in the chart below: (Click to enlarge)
Corporate tax rate overhaul may be part of a 'fiscal cliff' deal
The 35% corporate tax rate in the U.S.
The Corporate Income Tax
David Leonhardt has a piece explaining the horrors of the American corporate income tax code, which manages to have both higher rates than almost any other developed country and also raises less revenue. Why? So many loopholes. Doing it that way, meanwhile, harms economic growth:

Main menu

Secondary menu

Obama Offers to Cut Corporate Tax Rate to 28%

Related

Latest

User login

Our Blog

Markets Map

Follow Us

Secondary menu