Should the government raise or lower the tax rate for corporations?
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.
@7LP98RN2yrs2Y
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@8LYMN8Z6yrs6Y
@95DR5294yrs4Y
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@7LP98RN 2yrs2Y
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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%.
@8HJQJ386yrs6Y
@9S2PDWW2yrs2Y
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.
@9B8JWDG3yrs3Y
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