I think you are looking at it to short term.
The corporate tax rate was lowered to 40% in the 1980s. That was a competitive rate then. It was lowered to 35% in the 1990s. That was a competitive rate then.
So I am not too surprised that other countries haven’t lowered their tax rates in the last six months. It hasn’t been enough time. But where will global corporate tax rates be in 2030? I would be shocked if 20% isn’t on the high side.
And I don’t actually mind eliminating the corporate tax as long as it is revenue neutral. But eliminating the corporate income tax and keeping the dividend tax rate low (or lowering it farther) is not the answer. The whole justification for the current lower dividend rate is that corporate income is double taxed.
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In response to this post by BocaHoo91)
Posted: 07/13/2018 at 06:19AM