Should the U.S. raise or lower the tax rate for corporations?
The U.S. currently levies a 21% tax rate at the federal level and an average tax of 4% at the state and local level. The average corporate tax rate worldwide is 22.6%. Opponents of argue that raising the rate will discourage foreign investment and hurt the economy. Proponents argue that the profits corporations generate should be taxed just like citizen’s taxes.
@ISIDEWITH11yrs11Y
Raise
@9FH77ZK12mos12MO
A flatter corporate tax code, with fewer deductions and loopholes, may disproportionately benefit larger corporations with the resources to navigate complex tax regulations. Smaller businesses that rely on certain deductions to remain competitive could face disadvantages, potentially reducing economic diversity and stifling innovation.
@ISIDEWITH11yrs11Y
Lower
@9F7N5LX1yr1Y
Look at OECD countries data, lower corporate tax rates lead to higher corporate tax as percent of GDP.
@ISIDEWITH11yrs11Y
@ISIDEWITH11yrs11Y
@ISIDEWITH11yrs11Y
Lower, but eliminate deductions and loop holes
@9FH77ZK12mos12MO
While simplifying the corporate tax code by lowering rates and eliminating deductions and loopholes can seem like a sound idea, it may not necessarily achieve the intended benefits and could exacerbate certain issues.
@ISIDEWITH11yrs11Y
@ISIDEWITH11yrs11Y
@8LYMN8ZIndependent4yrs4Y
Lower for small businesses, raise for big businesses, eliminate deductions, and loop holes
@95DR5292yrs2Y
Lower for both large multinational corporations and small businesses.
@8HJRBDY4yrs4Y
Lower as long as the money the company gets in tax backs gets used in the economy to create more jobs
@8HJQJ384yrs4Y
There should be an increase depending on the corporations current economic health.
@7LP98RN 1wk1W
Update This Question
When you click the "Learn More" tab it claims that the corporate tax rate (federal) is 35% but the Trump tax cuts lowered this to 17%. That's an important distinction for people who answer this question that may not have much prior knowledge about the corporate tax rate. Also, the international average is in the low 20%.
@ISIDEWITH1wk1W
@9B8JWDG1yr1Y
Raise and if they try to leave make them stay by force
@9S2PDWW1mo1MO
The United States should eliminate the loopholes and deductions that allow companies to send their labor force or their facilities overseas to foreign countries, To take advantage of the cheap labor and lack of workers rights. And there should be an increase in corporate taxes here in the United States, but not by much, by 4% at the least and 8% at the most. And we should offer tax deductions For corporations that employ a large number of veterans Or pay decent wages to their workers so they can maintain a minimum standard living in the area they are in.
@9D46LLB1yr1Y
Privately Owned Corporations Should Not Exist
@9K8TKCG7mos7MO
Lower, for Small businesses but keep multinational corporations at the same level and eliminate loopholes and some deductions and also eliminate older and less important regulations.
@8NRB5WP4yrs4Y
Eliminate loopholes for all businesses and individuals Increase rates for big corporations Decrease for small business
@9FJWLW312mos12MO
The government should not tax corporations
@9CJ6CB612mos12MO
Regulation and taxation should be the number one thing corporations face, they already have incredible reach over the decisions the government makes. The least that can be done is taxation on legal entities that have bribed and exploited politicians.
@8FK3FMF4yrs4Y
"Lower on small and midsize businesses, and raise on big and large corporations, and tax shareholder dividends and on stock buybacks." (Submitted stance by user)
@944MJ7B2yrs2Y
Raise for large multinational corporations but lower for small businesses along with eliminating deductions and loop holes
@96L89MX2yrs2Y
Lower, but eliminate loopholes, & punish those who relocate outside of the country.
@8Z2WLJ43yrs3Y
Eliminate corporate taxes as they are really taxes on the people, since corporations will raise prices and/or lower wages and benefits to compensate.
@8KMDFMB4yrs4Y
Ban multinational corporations, and raise slightly for in country corporations
@96JVK6B2yrs2Y
Lower, except in the event they relocate jobs outside the US in which they should be punished.
@8NN9YCL4yrs4Y
Taxes should be proportional to income/profits. Close the tax loop-holes for the uber rich while giving incentives for creating jobs and investing in the local communities. The country needs a tax reform to give lower income people a much needed break and introduce a reasonable and fair amount of tax to people based on their earnings/income with the richest taxed at a higher weight.
@8ZJZ74N3yrs3Y
This depends on the type of corporation.
@8ZJH5GHLibertarian3yrs3Y
Raise but offer tax cuts and incentives for job and wage growth
@8QRVVHN4yrs4Y
@96SS7YC2yrs2Y
Eliminate corporate tax, income tax, raise sales tax in accordance to responsible spending plans from government.
@93CNSH32yrs2Y
Abolish all taxes and the IRS
@8NY8RG74yrs4Y
Raise, and get rid of deductions and loopholes.
@8HLPNWQ4yrs4Y
There should be a flat tax.
Raise/increase for large multinational corporations but lower for small businesses and eliminate deductions and loop holes
@9T69DPJ5 days5D
Lower taxes for corporations that primarily hire American workers and limit offshoring, but raise the taxes for American corporations that offshore their workforce.
@9T4H2726 days6D
Increase and remove loopholes and deductions for large corporations, do the opposite for small local businesses.
@9SZHSRZ1wk1W
Tax property rather than income. Make the first $50,000 assessed property value tax free permanently.
@9SYT6JDIndependent1wk1W
Lower, but massively increase fines paid by corporations by fining them with a percentage of their pre-costs revenue
@9SXCN3K2wks2W
There should be no taxes on corporations. All individuals should be taxed equally (regardless of wealth), and/or individuals should be taxed proportionately to the government services they utilize.
@Hot-Potato 2wks2W
Abolish the corporate income tax and all other federal taxes and replace them with a 10% land value tax and a 10% value added tax.
My impression is that corporate income taxes aren't supposed to be super efficient...but we do need a way to claw back money that they're not reinvesting
@9SNV3PC2wks2W
I think business tax should be based on the difference between the amount paid the lowest paid employee and the CEO. The wider the difference, the higher the tax.
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