quote:

ORIGINAL: ElectraGlide

Sure Obama just make it so hard for a company to make money, that they will run the whole company out of the country and let other people work for them.

quote:

ORIGINAL: CruelNUnsual

Another Obama (or Rule) misdirection. The facts:

Effective tax rates of large US corporations:

Average 25.2%
Median  31.8%
Companies paying more than 50%: 25% of all companies.

quote:

ORIGINAL: UglyTruth

Is that Rangel the actual law breaking tax cheat going after the law abiding "tax cheats"?

quote:

ORIGINAL: OrionTheWolf

Try reading the story. Regardless of what he has done, a reform that increases taxes made abroad but decreases those that create domestic jobs, is what needs to be done.

quote:

ORIGINAL: OrionTheWolf

Yeah I am not sure where those figures come from either, unless they are rolling in the payroll tax contribution portions and such.

From the article:

" The U.S. has a top corporate income tax rate of 35 percent, which is among the highest in the developed world. However, most corporate income is taxed at much lower rates because of deductions and credits.
In 2004, large corporations paid an average effective tax rate of 25.2 percent on domestic income, according to a Government Accountability Office report last year. For foreign income, the effective U.S. tax rate was about 4 percent, the report said. That figure does not include taxes paid to foreign countries. "

Contention by businesses is that if they pay more taxes, then they become less competitive. This is an actual concern, regardless of what the emotional response is. I agree with those that state companies that are actually evading taxes should be pursued with vigor, but those that are legally using the current code are not breaking the law. Even Democrats in Congress state they are opposed to increasing the taxes on corporations if it will have negative effects upon those companies growing.

It definately needs more study and looking into, before anything is done. If companies are moving to reduce their overhead of taxes, then wouldn't rasing taxes be the opposite of what is needed to keep companies here? This is what Rangel tried in 2007, which I supported. It increases taxes if they are made abroad but lowers taxes in income domestically. This makes it more attractive to have the company here in the US.

" Rep. Charles Rangel, chairman of the tax-writing House Ways and Means Committee, proposed a similar measure to limit the deductions of U.S. multinationals in 2007. But Rangel, a Democrat from New York, tied his proposal to lowering the overall corporate tax rate. "