I put quotations around the number for a reason, your number is as much of a guess as mine
Also, there is an issue here with the argument. One one hand you have people arguing that even though the US has near the top corporate tax rate, it doesn't matter because of tax shelters. They argue that US corporations really pay 12% or whatever. This is fine and dandy, but mom and pop corps are paying the full rate.
That argument is used when someone argues that the US has one of the highest global corporate tax rates. If you take out the apple's and other multinational corporations that (bring in jobs to the US, btw) use tax shelters you have all the small businesses in America dealing with the highest tax rate in the world (second, third, whatever). As such, the argument that our corporate tax rates are already too high is indeed valid and applies to the vast majority of corporations in the US (most are small businesses).
You'd probably yield better results by lowering the rate and then eliminating certain deductions. The higher the rate, the higher the incentive to circumvent the tax. At some point the rate will be low enough that it will make economic sense to just stay here. As such, overall revenues will increase as a result.
“They have the guns and therefore we are for peace and for reformation through the ballot. When we have the guns then it will be through the bullet.” - Saul Alinsky, quoting Lenin
"You don’t burn books because they’re irrelevant. You burn books because you’re terrified that they’re not. You don’t muzzle people who have no audience. You muzzle people only when their voices are amplified far beyond your liking."
Last edited by Act of God; 02-13-2013 at 09:06 PM.