There has been quite a lot of talk in the national arena about taxes and whether or not they are very high for corporations in this country. This article suggests that they are lower on average than taxes paid by 19 other countries who are in the Organization for Economic Co-operation and Development(OECD). The average tax paid by US corporations is 13.4% while ...
...the average for OECD members was 16.1%. This study by the World Bank and PriceWaterhouse places the US at 76 out of 138 countries in terms of percentage of corporate profits which go to pay taxes. So it seems that our tax rate is not onerous nor is the percentage taxed compared to profit higher than most developed countries.
Tuesday, October 28, 2008
Are US corporate tax rates burdensome?
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8 comments:
Gee - where did I hear that 'Even if our taxes are low compared to to others, if Dartmouth cannot afford additional property taxes then what other communities pay matters not...'
Anybody see the irony in this thread suggesting that corporations pay too little in taxes compared to other countries. The hypocrisy is too blatant to ignore.
This must be another way to suggest that 'spreading the wealth' is the duty of corporations in America as well as those successful enough to earn a good living. Not enough to create jobs, build businesses and create prosperity, but we must also give more away to support an ever larger federal government and an ever growing entitlement society. Too funny.
Where does it say, "corporations pay too little in taxes compared to other countries"? How have corporations been doing lately on the "create jobs, build businesses and create prosperity" front? Should the government bail out AIG, Wall Street and GM or let them go bankrupt? The market say they didn't make it. Is that the final word? Or do corporations have some special right to my tax dollars that I don't?
Policy, Bill's introduction to this article suggests that America's corporate taxes are low compared to other countries that's where it says it. What other conclusion can one draw from his intro paragraph?
Yes corporations create jobs, and prosperity - government does not and should not. For every greedy corporation like AIG or mammoth and slow to respond corporation like General Motors there are literally thousands of successful, prosperous corporations that do not rely on government largesse to succeed and are sick to death of the tax tax tax mentality of some in government. As far as a company like General Motors go I for one think companies like them that have prospered for over one hundred years employing literally millions of citizens thru their history deserve some consideration when they fall on hard times. How much and for how long? That's a subject for another thread. But taxing corporations more does not solve problems it only creates more. And I still see tremendous irony in this thread coming from someone who steadfastly opposed a local override to increase taxes here in Dartmouth, and further maintained that we cannot compare ourselves to other communities, yet sees no reason not to suggest that the 'government'should do the very same thing to corporations because their tax burden is less than some other countries.
One last thing, how does taxing corporations further relate to 'your tax dollars'? All I see is government getting still more tax dollars; yours and the corporation's. If you mean the bail out $$$, then I agree - that is one huge boondogle sponsored by none other than our own Barney Frank, a classic big government kind of guy.
Again, where is there any mention of increasing corporate taxes. I see none. You infer that an increase of taxes is advocated since taxes are mentioned and evidence presented that they are not unduly burdensome. I don't see that. Smith Corona spent many years and employed many people for decades making typewriters. Should we prop them up for past contributions? What troubles me is that some have a double standard for individuals and companies. Individuals must sink or swim on their own, big corporations get insulated from the results of their poor decisions. Why the dichotomy? As far as taxing corporations is concerned, they benefit from the fruits of those taxes. Public education, public highways and infrastructure all allow companies to prosper when they would not without them (not to mention courts, fire departments, police, and on and on). It is fair and equitable to ask them to contribute to the common good through taxes because the companies as well as the residents benefit. The argument presented was that taxes do not seem unduly burdensome. Other than arguing that taxes are bad, do you have any evidence to the contrary?
As far as "my tax dollars" and "the government" are concerned, I suggest reading the first six words of the US Constitution.
Then we see two entirely different things in this blog Poor and there's little sense in battling back and forth if we disagree on the basic premis of this thread.
I have to laugh when I hear the reference to Dartmouth property taxes being low compared to other communities. One big reason they are low can also be seen in Nantucket. Very high value seasonal homes whose families use very little of the town services add greatly to the tax base. Dartmouth does not benefit from this to the extreme that Nantucket does but it certainly makes a big difference. How many people on this blog can afford to live on Nantucket? The whole tax rate argument is a joke. The tax rate is a "result" of levy/assessments. It is not something that gets set arbitrarily. Also, those that feel anyone with a nice house can afford to pay high property taxes, underestimate the do-it-yourselfer. If I live in a lower middle class neighborhood of run down houses but make the effort to keep my home painted and grass cut nicely, should I pay more?
The comparison to Nantucket is a red herring. Compared to New Bedford, our property taxes are low as well. Same with MAttapoisett, Rochester, Fairhaven etc. Last I checked Dartmouth was in the bottom third of the state - not sure if that has changed in the last year though.
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