Trump wants to lower the corporate tax rate again from 21% to 15%

[Elim Garak]

 

[BaggerofTea]

explains why the corporate media has been endorsing this guy so heavily. In fact it feels like the entire capitalist class outside of outliers are throwing their weight behind this buffoon.


really need a thread on the connection of fascism - white supremacy - capitalism


All of them work almost synergistically with each other

 

[Brolic]

Republican Tangibles

 

[Elim Garak]

explains why the corporate media has been endorsing this guy so heavily. In fact it feels like the entire capitalist class outside of outliers are throwing their weight behind this buffoon.


really need a thread on the connection of fascism - white supremacy - capitalism


All of them work almost synergistically with each other

He already lowered it in 2017 also.

The corporate tax rate was changed from a tiered tax rate ranging from 15% to as high as 39% depending on taxable income[46] to a flat 21%, while some related business deductions and credits were reduced or eliminated. The Act also changed the U.S. from a global to a territorial tax system with respect to corporate income tax. Instead of a corporation paying the U.S. tax rate for income earned in any country (less a credit for taxes paid to that country), each subsidiary pays the tax rate of the country in which it is legally established. In other words, under a territorial tax system, the corporation saves the difference between the generally higher U.S. tax rate and the lower rate of the country in which the subsidiary is legally established. Bloomberg journalist Matt Levine explained the concept, "If we're incorporated in the U.S. [under the old global tax regime], we'll pay 35 percent taxes on our income in the U.S. and Canada and Mexico and Ireland and Bermuda and the Cayman Islands, but if we're incorporated in Canada [under a territorial tax regime, proposed by the Act], we'll pay 35 percent on our income in the U.S. but 15 percent in Canada and 30 percent in Mexico and 12.5 percent in Ireland and zero percent in Bermuda and zero percent in the Cayman Islands."[47] In theory, the law would reduce the incentive for tax inversion, which is used today to obtain the benefits of a territorial tax system by moving U.S. corporate headquarters to other countries.[48]

One-time repatriation tax of profits in overseas subsidiaries is taxed at 8%, 15.5% for cash. U.S. multinationals have accumulated nearly $3 trillion offshore, much of it subsidiaries in tax-haven countries. The Act may encourage companies to bring the money back to the U.S. at these much lower rates.[49][50]

The Corporate Alternative Minimum Tax was eliminated.[48]

The law also eliminated the net operating loss carryback, a procedure by which a company with significant losses could receive a tax refund by counting the losses as part of the previous year's tax return. They were considered important in providing liquidity during a recession. The provision was cut in order to finance the tax cuts in the act, and was one of the largest offsets in the law.[51]

Additionally, the domestic production activities deduction was eliminated by the Tax Cuts and Jobs Act.[52]

 

[ItsPeople]

What about the personal tax rate?

 

[BaggerofTea]

He already lowered it in 2017 also.

they want to lower corporate taxes

cut entitlement spending

cut spending for needs like healthcare and education


Yet still want to import more people from overseas to drive the wages down.



Blatantly playing in the American people's face.........

 

[Yapdatfool]

What does 'made in USA' even mean?
Right now, 99% of some shyt can be made somewhere else and 1 bolt get put in america and it can be 'made in usa' and get all the credit?

and 21 to 15% corp tax?! Bring back that 52% on some real MAGA shyt

Fact check: Viral post exaggerates corporate tax rates under President Dwight Eisenhower

A viral Facebook post claims the corporate tax rate under Eisenhower was 90%, but the true number was around half of that.

www.usatoday.com

meanwhile...

Federal income tax rates and brackets | Internal Revenue Service

See current federal tax brackets and rates based on your income and filing status.

www.irs.gov

2024 Tax Brackets

Explore the IRS inflation-adjusted 2024 tax brackets, for which taxpayers will file tax returns in early 2025.

taxfoundation.org

Tax Rate	For Single Filers	For Married Individuals Filing Joint Returns	For Heads of Households
10%	$0 to $11,600	$0 to $23,200	$0 to $16,550
12%	$11,600 to $47,150	$23,200 to $94,300	$16,550 to $63,100
22%	$47,150 to $100,525	$94,300 to $201,050	$63,100 to $100,500
24%	$100,525 to $191,950	$201,050 to $383,900	$100,500 to $191,950
32%	$191,950 to $243,725	$383,900 to $487,450	$191,950 to $243,700
35%	$243,725 to $609,350	$487,450 to $731,200	$243,700 to $609,350
37%	$609,350 or more	$731,200 or more	$609,350 or more

 

[Mike809]

these companies will still keep outsourcing jobs to 3rd world countries.

 

[Bumblebreh]

The FBA and ADOS corporation, approves family.

 

[bnew]

explains why the corporate media has been endorsing this guy so heavily. In fact it feels like the entire capitalist class outside of outliers are throwing their weight behind this buffoon.


really need a thread on the connection of fascism - white supremacy - capitalism


All of them work almost synergistically with each other

a lot of industrialists funded and supported hitler in opposition to the left and some were killed after the nazi regime came into power.

 

[Kyle C. Barker]

What about the personal tax rate?

Don't worry about that. It'll all trickle down

 

[Born2BKing]

Don't worry about that. It'll all trickle down

Yep, corporations have been waiting and begging for these tax cuts so they can pay their mid and lower level employees more money.

 

[Elim Garak]

Yep, corporations have been waiting and begging for these tax cuts so they can pay their mid and lower level employees more money.

Trump is doing this for the people.

 

[Jesus H. Christ]

Republican Tangibles

1% rich white tangibles

Dumbass poor white people who support trump will cheer this on. Trickle down economics baby! 'Murica

 

[IIVI]

They want you working 60 hours/week for peanuts to make them money.

Kill unions and American worker rights.
Ship more jobs overseas.
Bring in more immigrants for cheap skilled labor.
Lower corporate taxes.

If you think Republicans cater to anybody else than rich CEO's, you're a moron.

They want asses in chairs (or standing on their feet) slaving away 10-12 hours per day. It's time to fukking end them.