Corporate taxes

Thursday, May 23, 2013

Senator Rand Paul: Congress should be on trial for chasing profits overseas and should apologize to Apple

Mark J. Perry | May 22, 2013, 6:16 pm

Rand Paul at the Homeland Security and Government Affairs Subcommittee hearing yesterday: I’m offended by a government that convenes a hearing to bully one of America’s greatest success stories. I’m offended by the spectacle of dragging in executives from an … read more >

Pethokoukis, Economics, U.S. Economy

Sorry, the 1950s US economy of strong unions, plentiful manufacturing jobs, and sky-high taxes isn’t coming back

James Pethokoukis | April 16, 2013, 9:17 am

The heated debate over Margaret Thatcher’s economic legacy shows many progressives have little use for the pro-market shift taken by US and UK policymakers starting in the late 1970s. They argue that the combo of deregulation, privatization, and lower marginal … read more >

Pethokoukis, Economics, Taxes and Spending

Obama’s budget leaves room for a whopping 1%-point cut in the US corporate tax rate

James Pethokoukis | April 11, 2013, 12:34 pm

The US statutory corporate tax rate is 35%. The OECD average is 25%. Even the US average effective rate is some ten points higher than its competitors. Slashing the rate should be a no-brainer. But Dan Clifton of Strategas Research says … read more >

Pethokoukis, Economics, Taxes and Spending

Time for a pro-growth ‘big bang’ to reform corporate taxes

James Pethokoukis | April 10, 2013, 9:45 am

I am unfortunately skeptical of the current corporate tax reform process in Washington. At minimum, we should end up with a statutory rate at the OECD average of 25% with fewer tax loopholes/breaks/deductions. But congressional tax writers are having a … read more >

Carpe Diem

Top 10 ‘taxation heroes’ for 2012 – their combined income taxes were about the same as the bottom 75% of US taxpayers

Mark J. Perry | April 3, 2013, 8:20 pm

Rank Company Income Taxes Paid in 2012 (billions) Effective Tax Rate 1 ExxonMobil $31.05 39.4% 2 Chevron $20.00 43.2% 3 Apple $14.21 25.4% 4 Wells Fargo $9.10 32.0% 5 Wal-Mart $7.98 31.0% 6 ConocoPhillips $7.94 51.5% 7 JPMorgan $7.63 … read more >

Pethokoukis, Economics, Taxes and Spending

Here’s the wrong way to do corporate tax reform

James Pethokoukis | March 27, 2013, 11:12 am

The Washington Post notices a decline in the corporate tax burden: A Washington Post analysis of data compiled by Capital IQ found that in the late 1960s and early 1970s, companies in the current Dow 30 routinely cited U.S. federal … read more >

Economics, Pethokoukis, Taxes and Spending

The case for corporate tax reform in 1 chart

James Pethokoukis | January 9, 2013, 8:26 am

Through 2011, the United States had the second-highest combined corporate tax rate among advanced economies, according to a new report from the Congressional Budget Office. Actually, it’s worse than what the CBO says. Japan lowered its rate last year, and … read more >

Economics, Pethokoukis

Analysis: Coming hike in investment taxes may make it harder for fast-growing young firms to raise capital

James Pethokoukis | October 5, 2012, 8:44 pm

Does this sound like a good idea with a 14.7% unemployment rate (including part-timers who wished they have full-time jobs plus some discouraged workers)? Here is JPMorgan on the scheduled increase in the capital gains and dividend tax rates … read more >

Pethokoukis

More evidence Obama should be proposing tax cuts … right now

James Pethokoukis | June 22, 2012, 10:06 am

With the U.S. economy slowing — along with pretty much the rest of the planet — the last thing Washington should be doing right now is going on hiatus. At the very least, the White House and Congress should have … read more >