The Many Faces of US Politics...

[J70]

What's the argument against lowering tax rates?

I can see how one could object to making them TOO low, but Ireland seems to have benefited from the low corporate tax rate, while the EU average top rate is well below the US.

[Gmac]

The rich want everything. The next crash will be biblical

   https://www.ft.com/content/79538ba6-a35b-11e7-b797-b61809486fe2

   American corporations would see their tax rate cut below many of their counterparts elsewhere, under a sweeping White House and Congressional plan that aims to slash the corporate tax to 20 per cent.

You do know that US corp tax rates are among the highest in the developed world?

Bill Clinton is even in favor of lowering them, having been the one to jack them up to 35%

Most don't pay 35% and profits as a % of GDP are already are record highs
on the back of wage repression, Whitey
The US will go down the toilet.
You can always go back to Mayo I spose

how much is the dole now

[Eamonnca1]

What's the argument against lowering tax rates?

I can see how one could object to making them TOO low, but Ireland seems to have benefited from the low corporate tax rate, while the EU average top rate is well below the US.

Depends whose taxes you're lowering. If you lower taxes on working people then you get more spending and a stronger economy. If you lower taxes on corporations then it just lowers government revenues that have to be made up by taxes on working people, and there's no evidence that lowering said taxes results in any extra investment. Kansas tried the low corporate tax experiment and it was a disaster. Ireland benefitted initially from the 12.5% rate by attracting inward investment but the price the country's paying is now underfunded public services and infrastructure. If you're a small place like the Cayman Islands then you can probably get away with a scam like that but supporting a larger country of 5 or 6 million is a different story.

[Eamonnca1]

More here:

High income tax rate deterring companies from moving to Ireland, says Irish recruitment firm

"The language, career opportunities, education and the standard of living is attractive but our tax rates are a real stumbling block."

Ireland's top marginal tax rate of 55% is considerably higher than other EU countries with Germany's rate 10% lower.

Lower taxes on companies leads to higher taxes on the people who work for them. That's no way to fund a state with an advanced economy.

[Hound]

More here:

High income tax rate deterring companies from moving to Ireland, says Irish recruitment firm

"The language, career opportunities, education and the standard of living is attractive but our tax rates are a real stumbling block."

Ireland's top marginal tax rate of 55% is considerably higher than other EU countries with Germany's rate 10% lower.

Lower taxes on companies leads to higher taxes on the people who work for them. That's no way to fund a state with an advanced economy.

The high earners in Ireland have among the highest taxes in the OECD.
The low earners have among the lowest.
The middle-earners are slightly above average (more you earn more out of kilter you get).

The stats are that 6% of the workers earn over 100k and these people contribute 50% of the income tax take
20% earn between 50-100k and these contribute 33%
74% earn less than 50k and contribute 17% of the overall income tax take.

This is called progressive, but means the base is narrow and it's not attractive for well paid foreign executives to relocate to Ireland. The narrow base was a big part of the reason for the introduction of property and water taxes to widen the base.

Our corporation tax take per head of population is one of the highest in the EU and rising. If you don't think the 12.5% is good for Ireland, then you need your head examined. Even Sinn Fein came around.

[LeoMc]

Donnie d**khead's pick to win the Alabama GOP Senate runoff Luther Strange lost last night.

He then went on and deleted 3 tweets he posted yesterday encouraging people to vote for him and claiming it was his endorsement that had him soaring in the polls.

Lucky the COVEFE act has not got through yet or he would be in bother for amending Presidential records.

[Kickham csc]

What's the argument against lowering tax rates?

I can see how one could object to making them TOO low, but Ireland seems to have benefited from the low corporate tax rate, while the EU average top rate is well below the US.

Depends whose taxes you're lowering. If you lower taxes on working people then you get more spending and a stronger economy. If you lower taxes on corporations then it just lowers government revenues that have to be made up by taxes on working people, and there's no evidence that lowering said taxes results in any extra investment. Kansas tried the low corporate tax experiment and it was a disaster. Ireland benefitted initially from the 12.5% rate by attracting inward investment but the price the country's paying is now underfunded public services and infrastructure. If you're a small place like the Cayman Islands then you can probably get away with a scam like that but supporting a larger country of 5 or 6 million is a different story.

Disagree. For example, I work for a global Rx company with significant presence in NJ. In the past 5 years, we have reduced the R&D workforce by 50%, and relocated to Singapore and Switzerland, mainly for Tax employment cost reasons.

The NY and RTP pharma industry in NJ and NC was built up about 30-40 years ago due to the regions having the lowest Tax rates at that time.

Low Tax rate can create jobs.

So, I am for Tax reductions for corporations and against for individuals

[Puckoon]

Interesting Kickham. Cambridge pharma hub, South SFO pharma hub, and San Diego pharma hub were all built off the back of scientific excellence and investment in the area - at least that's what is widely believed. Can't speak for the development of RTP or NJ in particular.

[Eamonnca1]

More here:

High income tax rate deterring companies from moving to Ireland, says Irish recruitment firm

"The language, career opportunities, education and the standard of living is attractive but our tax rates are a real stumbling block."

Ireland's top marginal tax rate of 55% is considerably higher than other EU countries with Germany's rate 10% lower.

Lower taxes on companies leads to higher taxes on the people who work for them. That's no way to fund a state with an advanced economy.

The high earners in Ireland have among the highest taxes in the OECD.
The low earners have among the lowest.
The middle-earners are slightly above average (more you earn more out of kilter you get).

The stats are that 6% of the workers earn over 100k and these people contribute 50% of the income tax take
20% earn between 50-100k and these contribute 33%
74% earn less than 50k and contribute 17% of the overall income tax take.

This is called progressive, but means the base is narrow and it's not attractive for well paid foreign executives to relocate to Ireland. The narrow base was a big part of the reason for the introduction of property and water taxes to widen the base.

Our corporation tax take per head of population is one of the highest in the EU and rising. If you don't think the 12.5% is good for Ireland, then you need your head examined. Even Sinn Fein came around.

I don't doubt what you're saying but I'd like to see your source so I can read up a bit more. Willing to stand corrected....

[foxcommander]

Willing to stand corrected....

On everything you're wrong about? There may be hope yet.

You can start by admitting what a clusterfuck obama was.

[screenexile]

Willing to stand corrected....

On everything you're wrong about? There may be hope yet.

You can start by admitting what a clusterfuck obama was.

Hilarious!!

Compared to what's come since he looks like FDR!

[Eamonnca1]

Willing to stand corrected....

*************

Hilarious!!

Compared to what's come since he looks like FDR!

The ignore feature is your best friend. This board has become a lot more enjoyable since I put that clown on ignore. No point in trying to reason with him.

[foxcommander]

Willing to stand corrected....

*************

Hilarious!!

Compared to what's come since he looks like FDR!

The ignore feature is your best friend. This board has become a lot more enjoyable since I put that clown on ignore. No point in trying to reason with him.

Hahahahahahahahahahaha

This is the guy who is "willing to stand corrected" but won't listen to other peoples points of view because it offends him.

He's a product of the Obama years alright

Poor Eamon needs his safe space

[Rossfan]

Willing to stand corrected....

*************

Hilarious!!

Compared to what's come since he looks like FDR!

The ignore feature is your best friend. This board has become a lot more enjoyable since I put that clown on ignore. No point in trying to reason with him.

👍👍

[foxcommander]

Willing to stand corrected....

*************

Hilarious!!

Compared to what's come since he looks like FDR!

The ignore feature is your best friend. This board has become a lot more enjoyable since I put that clown on ignore. No point in trying to reason with him.

👍👍

It's the lad who can't think for himself - wade in for your distressed buddy. good on you rossfanny
You couldn't even find the ignore button if it was right in front of your crosseyes.