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Twice as many companies paying zero taxes under Trump tax plan

Discussion in 'The NF Café' started by Death Certificate, Apr 15, 2019 at 7:42 AM.

  1. Death Certificate Well-Known Member

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    The Tax Cuts and Jobs Act lowered the corporate tax rate from 35 percent to 21 percent. In its first year, the number of companies paying no taxes went from 30 to 60.


     
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  2. wibisana still newbie

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    Reducing corporate tax = more compny gonna pay

    100% confirmed
    Illuminati confirmed
     
  3. ClandestineSchemer Well-Known Member

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  4. Mael Well-Known Member

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    Must investigate further. I know the best way to incentivize business and business growth is to not tax a business heavily but what matters is what comes of this.
     
  5. Superman

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    :mjlol
     
  6. MrGayNight Well-Known Member

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    Companies are not paying taxes and the US gets less money.
     
  7. Mael Well-Known Member

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    You guys are missing my point. France put a 70% tax rate on the rich and on businesses and it failed miserably because everyone just left. If you offer tax incentives for businesses they will expand their businesses in your country which means more employees who are then text. Ergo, the country still gets its money somehow someway.

    That is why the eat the rich crowd fails miserably.
     
  8. makeoutparadise I will have my revenge

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  9. makeoutparadise I will have my revenge

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    What if I dont want companies to grow too much?
    What if Companies get so powerful and wealthy that they can grow beyond the bounds of the law and face no real consequences when they break them?
    If a Drug company is partly responsible for the Opioid epidemic
    Or a Oil company was cheap on safety

    What’s fining them or forcing them to pay their equivalent of a weeks worth of their profit if they’re gonna just take the hit and still break the law?
     
  10. stream Do something, Naruto!

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    Politifact says: half-true

    The TL;DR is that some jobs were created since the tax cuts, but not more than the previous years, and it's hard to know what would have happened otherwise.

    Certainly, I've seen plenty of articles doubting that the tax cuts would do anything. If I remember correctly, the biggest criticism was that when borrowing money is so cheap, money is literally not an issue for businesses. If they thought they could be more profitable by hiring more people, they would have done it with or without tax cuts. In that sense, cutting taxes during this time of historically lowest borrowing costs is like watering your flowers while it's raining.

    At other times, when business are straining to borrow money, lower taxes can be a great help.
     
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  11. JH24 Well-Known Member

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    I'm sorry, but my first reaction was that of disgust. It's a good thing to offer incentives to businesses so they can grow and get more people jobs, but earning billions of dollars and not having to pay anything (or even getting a rebate) is just plain wrong.
     
  12. Superman

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    That sounds nice....say how has the execution been though? Or say they do that, they would lower the pay for employees since they would have so many now. And what has this country been doing with said money? Sure as hell not tried to improve it in the last 2 well....damn near 2 decades.
     
  13. Mael Well-Known Member

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    So what do you propose? Taxing them ridiculously just like France did? You can criticize Amazon all you want but they were about to open up a big plant in New York that was going to offer thousands of jobs had AOC not destroyed that idea with her ineptitude and idealism.

    These cuts just took effect so you have to wait.
     
  14. stream Do something, Naruto!

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    There is plenty of middle ground between taxing ridiculously and taxing nothing. The United States were not really suffering under the previous tax rates, and it's not clear that these lower taxes are going to boost the creation of jobs. Again, it's not useful to water flowers while it's raining.

    That said, though AOC has campaigned against Amazon's new offices in NY, she had no power to influence their decision in any way. The blame for that sits squarely with the New-York bureaucracy.
     
  15. Huey Freeman The Gent

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    A tax option should be there for business, only way they should be tax exempted if they prove they invested heavily back into the economy.

    Having them without a tax option and hope for the best is just funny tho
     
    Last edited: Apr 15, 2019 at 12:31 PM
  16. Superman

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    Why would you think I would propose one extreme? Like @stream said, middle ground. What will the creation of jobs do if people can not live off of said job? It just seems like big business is not willing to do any. And now why would they? Cut into their bottom line? No....we should all just feel grateful for the jobs.
     
  17. Kroczilla Well-Known Member

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    Something far more reasonable than 21% for a start. Also comparing the U. S. to France is quite illogical. The U. S. has a much larger population and a consumer culture. It's literally a business paradise and frankly businesses should be begging to be allowed to do business with the U. S. rather than the other way around.
    It's unfortunate that you among many others don't realize this.

    For fucksakes, at least do some research before you post.
    AOC barely (if at all) factored in the decision. Fact is the many NY City officials,legislators and residents didn't like the deal and actively opposed it (especially given that the deal was made without their input) . Probably coz they've seen the impact tech companies could have on real estate prices and also, amazon's staunch anti-union stance didn't help either.
     
  18. Hozukimaru &#32

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    Maybe Trump should've insisted more on reducing the tax breaks. 21% is a fairly competitive tax rate but these loopholes create an unfair system especially for the smaller companies.
     
  19. Clutch Well-Known Member

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    And cut every social program known to man! We been doing this for a while. The results?
     
  20. Kroczilla Well-Known Member

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    Freedom! :derpko
     
  21. WorkingMoogle Well-Known Member

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    Look, trickle-down just needs a few more decades to work. Eat your sawdust-enhanced porridge and hold tight!
     
  22. Takahashi I'm with Eyeshield 21

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    It's a balance, though. Ideally you still want to tax as much as you can as long as it doesn't result in capital flight or significant decreases in economic activity. Tax breaks are neither inherently good or bad.
     
  23. Vandal Savage The Magician Supporting Staff

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    Considering how well the GOP has done in elections the last few decades they can probably manage to push for it another decade or two before generational change finally extinguishes it.
     
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