One has paid no corporate income tax to any nation for the last five years.
And, what Ireland did is not nearly as potent as eliminating the corporate income tax entirely.
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So, what increase in economic growth could we expect from eliminating the corporate income tax?
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Our 35% federal corporate income tax rate is already the second highest among the developed nations.
Or should it be the 35% corporate income tax rate, as suggested by Iowa Sen.
The U.S. already has the second-highest corporate income tax rate in the developed world.
They just ignore the existence of the federal corporate income tax entirely, with its 35% rate.
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Perry is proposing a 20% corporate income tax rate, while Romney is offering a 25% rate.
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Capital investment income is taxed first by the above mentioned, abusive, internationally uncompetitive corporate income tax.
Or even if there were a credit available against that corporate income tax already paid.
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So, profit that is paid out as a dividend pays no corporate income tax.
This was in spite of his calculations not including the effect of the corporate income tax.
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These new assumptions revise the way TPC distributes corporate income tax changes to individuals.
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The capital gains tax is paid on top of the corporate income tax, not instead of it.
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And hovering over this obscure tax fight is the larger question of U.S. corporate income tax policy.
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Apple has thus paid a corporate income tax rate of 70% in this most recent reported quarter.
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Companies can avoid paying the 35% U.S. corporate income tax on earnings they keep and invest overseas.
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Now Google is well known to be extremely canny in its relationship to the corporate income tax.
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For, to a large extent, corporate income tax paid this year refers to profits made last year.
Yet that study crucially omits the corporate income tax, which is mostly borne by the owners of companies.
It may not be a coincidence that Mr. Gingrich chose 12.5% as his proposed corporate income tax rate.
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Back in 2008, he moved to exempt revenues from suborbital passenger ticket sales from the corporate income tax.
Capital income is also subject to the corporate income tax, the individual income tax, and the death tax.
The only reason (in economics, that is, not politics) we ever had a corporate income tax was convenience.
Yes, it is true that nearly two-thirds of US corporations do not pay the federal corporate income tax.
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Such companies have been exempt from corporate income tax since 2008, when the Zero-10 tax regime was introduced.
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They stood fast in the face of enormous pressure, and refused to raise their 12.5% corporate income tax rate.
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Eliminating the corporate income tax would cut the federal tax take to 17.1%.
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Thus McCain supports whacking our corporate income tax--the second-highest in the developed world.
Why not cut the corporate income tax rate to 20%, or even less?
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