We’re No. 1: In highest corporate taxes

[ready4ONE 5,400]

That is as sensible as txn's comment. Cudo on the funny pic!

[luckytxn 2,264]

The rate is too high and the loopholes are too many. Rates have been stable for a long time. Loopholes are added frequently. Which explains why corporate income tax revenues decrease while corporate income multiplies. So yes, the rate is too high. Should be lowered. And loopholes should be closed. I can see tax credits or deductions for domestic job creation. That makes sense since the feds will then tax the incomes from those jobs. But tax cuts for overseas investments, for shipping jobs offshore. I don't think so. Corporations may negotiate their deals with the countries where the jobs are going. The US treasury should not be burdened for a corporation off-shoring jobs. And yet, they are.

According to what loopholes we are talking about. Some of these so called loopholes are tax breaks if they hire certain ways. Those loopholes being closed can cost jobs going overseas. There also are tax breaks if they buy American products or services. Tax breaks for about anything really.

Texas as some other states do attract businesses by giving companies tax breaks. Tax breaks can be a good thing. Sure the U.S. has been historically a great place to do business but for awhile now our manufacturing has shifted overseas. To me anyway giving these companies tax breaks and lower the tax rate in this country to among the lowest in the world could mean jobs coming back here and prosperity.

[Mr. Big Dog 10,747]

So if the effective rate is 12% and we lower the actual rate to 28% and eliminate loopholes, how is that revenue neutral?

Mathematically challenged? If the marginal tax rate today is 35% and the effective tax rate is 12%, then there are 23% worth of loopholes out there. If you were to lower the marginal rate to 28%, you'd close loopholes worth 7% and you'd end up with the same 12% effective tax rate. Hence, it would be a revenue neutral exercise. Lower rate, fewer loopholes, same effective tax rate.

Should the same be done with personal taxes? Cut out the loopholes and deductions?

Yes, I would support that.

[Mr. Big Dog 10,747]

According to what loopholes we are talking about. Some of these so called loopholes are tax breaks if they hire certain ways. Those loopholes being closed can cost jobs going overseas. There also are tax breaks if they buy American products or services. Tax breaks for about anything really.

Texas as some other states do attract businesses by giving companies tax breaks. Tax breaks can be a good thing. Sure the U.S. has been historically a great place to do business but for awhile now our manufacturing has shifted overseas. To me anyway giving these companies tax breaks and lower the tax rate in this country to among the lowest in the world could mean jobs coming back here and prosperity.

Don't look now but that's exactly what the administration is saying. And the corporate tax reform they are proposing re-focuses tax breaks on American manufacturing and American jobs.