This seems like a pretty reasonable starting place for a bill, no? There's filler and fluff but I like a lot of the $$$ allocations. I haven't seen a ton of discussion about it, really, anywhere. What am I missing here?
25% has been pretty much known by insiders as what the final number was gonna be.
Raise taxes a bit and play the Republican game and say the rest will pay for itself through economic growth from the investment
Good idea, but the reality is if they are close to the 15-18,000,000 jobs, the added tax revenues may pick up the lost revenue.
Maybe the tax guys can give some depth to this, wouldn't a corporate minimum tax of 1-3% of revenues for companies having of nine figures or more make up for having a general corporate tax of 23-25%?
Please read what I said. $90M wouldn't qualify.
That amount of "COGS" seems to be a bit of inflation, over paying executives or fiction. With that little margin of error, you don't stay in business if something bad happens.
There should also be a law that if your company pays no taxes, they can't pay dividends or bonuses or stock options.
Texas has a gross receipts tax that includes an option to tax based on margin.As has been previously discussed the cogs difference is the major flaw with that. I’m not saying the corporate tax system we have now is fair but I think it’s far more fair than a revenue tax which would crush low margin businesses.
I’m getting way past what I can remember from my prior audit days but aren’t there states that have some sort of margin tax? That’s certainly not perfect either but it’s getting warmer.
It’s hard to analogize that well to a personal tax situation, it’s apples and oranges.
But the main observation I came home with after this trip is this: America is a rich country that feels like a poor country. If you look at the investment in and the care put into infrastructure, common areas, and the experience of being in public in places like Singapore, Amsterdam, Paris, and Berlin and compare it to American cities, the difference is quite stark. Individual wealth in America is valued over collective wealth and it shows.