Biden Concedes on Taxes
Posted: Thu Jun 03, 2021 8:21 pm
Biden proposed an increase in the corporate tax rate from 21% to 28% but after negotiating with Republicans he proposed something that i suggested years ago.
Drop the corporate tax rate to 15% and make it a MINIMUM tax, meaning all corporations have to pay at least 15%. The problem now is there are so many loopholes that so many companies get away with paying nothing. So drop the rate, get rid of the loopholes. It has the same effect as raising the rate.
I'm going to go ahead and predict Republicans will balk at it and complain for some other reason.
Drop the corporate tax rate to 15% and make it a MINIMUM tax, meaning all corporations have to pay at least 15%. The problem now is there are so many loopholes that so many companies get away with paying nothing. So drop the rate, get rid of the loopholes. It has the same effect as raising the rate.
I'm going to go ahead and predict Republicans will balk at it and complain for some other reason.