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.
Gold Medal Recipient: Jimmy Rustling (2014)
"The single most important thing we want to achieve is for President Obama to be a one-term president." October 23, 2010, not January 20, 2009
Last edited by Act of God; 02-13-2013 at 08:06 PM.