I hadn't p0sted in a while, getting rusty.
Quote:
Originally Posted by 72off
anyone know if this guy is correct that they're gonna have to vote on this thing again in the Senate bc they screwed up?:
https://twitter.com/NGrossman81/stat...08596280193024
feels wrong, but i've kinda lost the ability to be genuinely surprised by such ridiculous things
(and no one in the replies has corrected him)
...
Huge, if true.
I'll actually look later, but that would be absolutely hilarious. By the way, as I've posted about before, most meaningful (i.e., large) American corporations pay less than 20% anyway - the whole ruse of corporate tax reduction is built on the fake premise that corporations pay the "highest rates in the first world." That ruse is based upon the fiction that the rates are the rates, when the reality is that deductions, loopholes, offshoring and standard tax planning cause corporate tax rates to plummet - sometimes literally to 0, resulting in the AMT being paid if the entity has exposure, which itself can be avoided.
Re-instituting a 20% corporate AMT would, hilariously, functionally raise corporate taxes on most meaningful tax-paying corporations, thereby undoing the cut.
Last edited by CPHoya; 12-05-2017 at 11:41 PM.
Reason: This was edited for clarity and to correct a sloppy misstatement.