In America, you have to earn more money than it’s polite to whine about — $373,650 a year — in order to start paying a federal marginal tax rate of 35%. A person’s income between $34,000 and $82,400 a year is taxed at a rate of 25%.
According to the U.S. Government Accountability Office, two-thirds of U.S. corporations don’t pay any taxes at all.
Republican Congressman Todd Tiahrt of Kansas has introduced a bill, H.R. 4781, to lower the top tax rate for corporations down to 22%. Under Tiahrt’s plan, a person earning $35,000 a year would end up in a higher tax bracket than a corporation earning $35 million.
Isn’t it nice to know someone on Capitol Hill is looking out for the big guy?
p.s. Just in case you were wondering, Tiahrt hasn’t introduced any bill to lower income tax rates for actual people.
This is absurd and should cause a much-needed taxpayer revolt. Our money pays for war and torture we voted to end, pays for FREE health care to our politicians who can give it to us, and bails out big banks and Wall Street firms who mismanaged, gambled and lost TRILLIONS only to have the government MAKE US BACK THEM UP and “make them whole” while we lose our homes to foreclosure, what’s left of our jobs to the economy and now they want to cut off Social Security! When is it going to end?
Look:
http://dailybail.com/home/richard-suttmeier-half-of-us-banks-are-so-insolvent-they-can.html
http://www.correntewire.com/epic_fail_health_care_reform
http://baselinescenario.com/2010/03/08/they-saved-the-big-banks-but-kind-of-lost-the-economy-doing-it/
Tiahrt is RIGHT on this one! American corporations pay some of the highest tax rates in the entire world.
If you want more of something, subsidize it!
If you want less of something, TAX IT!
If you want fewer jobs in America, TAX CORPORATIONS!
IF you want less investment, in America, TAX CORPORATIONS!
How is zero taxes a high tax rate? Oh, it’s higher than in those countries where the corporations pay no taxes and steal public money. High standards ya got there, PR man.
Fruk — You do not have a clue what you are talking about.
Name a country that imposes higher corporate tax rates, than the United States, would you please?
You can’t.
You can’t because the United States has the highest corporate tax rates in the world!
What you know about economics would fit on the back of your welfare check, even if written in 20 pt. type!
The word you’re searching for, P.R. Wichita, is “nominal.” The U.S. has nominal tax rates on corporations that you might call high… although the higher tax brackets kick in at higher income levels than they do for individuals. But thanks to a system full of loopholes and incentives and breaks, the effective income tax rate on corporations is low… which is why the Government Accountability Office found that two-thirds of American corporations do not pay taxes — a finding you neatly sidestep.
Jim
You are also being ridiculous.
Is it your position that a corpation which does not even make a profit should still pay taxes?
It does seem to be your position.
If you claim that two-thirds do not pay income taxes, should you not tell us how many of those, in that group, actually made a profit for the year?
Out of that two-thirds figure, how many actually went bankrupt, in the last couple of years?
You HATE corporations, I get it.
To HATE corporations is to hate capitalism.
To hate capitalism is to hate America.
I’m not just “claiming” it. The Government Accountability Office reports it.
Why do you think corporations should pay a lower income tax rate than people?
If tax policy is a measure of “hate,” as you put it, then wouldn’t that mean you hate people? Why do you hate people?