I would be willing to Reduce Corporate Tax Rate if .......

[FreakinDJ]

We know the Republican "Super Committee" members are going to be making a lot of noise about "Reducing Corporate Tax Rates" to make US Corporations more competitive and "Broadening the Tax Base" meaning lower and middle income Tax Brackets will be paying more. But will any of these proposals seriously address stemming the flow of US Jobs and Manufacturing facilities overseas.

I think NOT

However Senator Rockefeller has listed his 18 point plan to shave $1.29 Trillion from the Debt by specifically addressing Corporate Loopholes

Fight tax abuse by corporations that ship jobs overseas. Big corporations have made large profits in recent years by offshoring jobs and hiding American profits in low-tax countries. The International Tax Competitiveness Act (H.R. 62) would crack down on this bad behavior and save $30 billion over 10 years. (modification based on Administration’s FY2012 Budget Proposal)
http://rockefeller.senate.gov/press/record.cfm?id=333382

Personally I don't think H.R. 62 goes far enough. I don't think it fully addresses "Paper Corporations" set up in Tax Haven Countries from being used to "Shift Profits" or fully stems "Transfer Pricing" schemes used in Corp Tax Avoidance. These same "Paper Corporations" are also used to manipulate the pricing of commodities such as Crude Oil, and Metal Commodities used in manufacturing.

I would like to hear from the "Corp Tax Savvy" here at DU what they feel would work

I feel we should abolish the "Foreign Profits Tax" and "Foreign Tax Credits" and institute a "Point to Point" flat tax on Corporations foreign or domestic importing goods and services to the US would end most of the price manipulation while encouraging growth in the US manufacturing sector.

BTW: Japan is on track to reduce their Corporate Tax Rate leaving the US the highest in the world. Expect to hear lots of noise over this in the coming months

[napi21]

1. I would have no problem reducing the corp. tax rate if all the

tax loopholes were removed. I also want to see the tax credit for moving a co. offshore. Of all the dumb things to ever do when you're trying to improve the job situation in the US. What brilliant mind ever thought of dooing THAT?

[golfguru]

2. Look at it this way.......

Are all corporations owned 100% by some individuals at the end of food chain? (correct answer = yes)

By taxing domestic corporations at higher rates than other industrialized countries make them more competitive or less competitive? (less)

If individual tax rates were made more progressive versus raising corporate taxes, which will generate more revenue? (former)

Taxes on corporation are paid mostly by CEO types and large stockholders, true or false? (false, consumers pay all taxes)

Even GE which paid ZERO taxes this year, large owners of GE stock & CEO types paid huge amounts of tax.

[jmowreader]

3. As long as it's legal to avoid taxes through incorporation in Bermuda...

tax revenues will not be increased by lowering tax rates.

I love this claim from the right-wing pseudoeconomists: "If we lower the corporate tax rate business will return to the US and tax revenues will go up." Bull. Let's throw out a fun little scenario: You are incorporated in Bermuda, your factories are in China and most of your sales are made outside the US. If you're paying only a tenth of a percent of your gross to the US government, why in God's name would anyone think you'd restructure your business so your taxes will go UP?