Originally posted by seanD
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The U.S. had the second highest corporate tax rate in the world in 2017 until Trump brought it down to close to the median average. That resulted in American companies returning some of their profits held overseas after President Trump cut corporate taxes for the first time in 31 years -- although it was only a fraction of the estimated $3 trillion that is parked overseas in places like the Bahamas, Bermuda, and the Cayman Islands (which offer 0% corporate tax rates) as well as several European countries like Hungary, Ireland, and Liechtenstein (which have rates between 9 to 12.5% -- about half of what it currently is in the U.S.). In fact Europe as a whole, is the region with the lowest corporate tax rate being something like 19.35%.
1. They love to claim that they'll cut income taxes for the poor and middle class but very few realize that now nearly 47% pay no federal income taxes at all so they can expect to be getting nothing more back because they didn't pay anything in the first place. IOW, if you get everything you paid in income taxes back at the end of the year (have zero income tax burden) then those who promise to increase it by x percent are essentially offering to multiply by zero -- which means it remains at zero.
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