Former McDonald's USA CEO: $35K Robots Cheaper Than Hiring at $15 Per Hour

[MikeRox]

DonFerrari said:

sc94597 said:

Oh this was about corporate taxes? That then makes the claim I was quoting just outright false. The U.S has the highest nominal corporate tax rate, and the second highest effective (after tax-inversion) corporate tax rate (after New Zealand) among OECD countries. 

The world average corporate tax rate is 22.4%. There are countries like Ireland (12.5%), Liechtenstein (12.5%), and Hong Kong (16.5%) with very low corporate tax rates, but first world economies. The average corporate tax rate for European countries is 18.6%, EU (22.6%) and for OECD (25.2%.) 

A corporate tax rate of almost 40%, as you noted, is indeed unreasonable. And with state corporate tax rates, it is no wonder corporations are fleeing progressive states. 

I hope that ends the argument people are making that such a high corporate tax rate is normal, and that it should be even higher. 

And on this bombshell we can finish the "the rich should pay more taxes" argument.

Corporate tax should be abolished if you ask me. Taxes should be higher on other areas.

Companies can very easily avoid corporate tax by diverting profits or "investing" etc. Starbucks used to do it here by the Dutch Starbucks selling the UK Starbucks the branded cups at about the same price the UK Starbucks charged for the whole drink this meant the UK Starbucks (where corporation tax was higher) was always making a loss and so not subject to paying the tax, while that money had been shifted over to Holland where they paid much less tax on the prof its. In places like Europe "sales tax" is much higher. As I believe are income taxes etc. So a different way of raising the taxation revenue that is more evenly distributed ( though this did penalise poorer people to some extent,it also means when the rich are spending heavily they're also being taxed on that.

As for the rich need to pay more taxes. I think people miss  the real issues with that. The rich need fewer ways to get around paying tax rather than higher tax rates IMO. It seems to be where the main issues arise.

I personally find the idea of really high tax rates for rich people very unfair. I also think historically its shown that you already raise less tax with punitive tax rates as the rich are the demographic that can up sticks and nice elsewhere the easiest.