I agree with this, I don't even get that tax! I mean, I pay a tax, I present deductions and then I receive a tax return, what does this mean exactly, I am lending money to the state?
How long do you folks think they will attempt to lower it? Republicans and moderate Democrats will be on board with it but the progressive left will definitely oppose. Hopefully they can at least get it down to the average workdwide level preferably lower.
I tread lightly with Chinese investments - they're like the Wild West and love to cook the books. As far as government subsidies, if you're talking about decreasing or eliminating unnecessary government aid, that's probably a good thing. But if you're talking about doing away with simply letting companies keep more of their money (i.e. tax breaks) the way they define "government subsidies" supposedly "given" to oil companies, I'd say probably not.
I'm going to be surprised if a corporate tax reduction of any significance gets through at this point. There seems to be a lot of backlash against corporations because politicians like Obama are constantly demonizing them for making a lot of profits, and not creating enough jobs. We definitely need one to become more competitive with the rest of the world though. If politicians were honest, they'd explain calmly how corporate taxes are actually a double tax and are completely harmful to the economy. They won't, though.
Hehe, I don't think I've heard "honest" and "politician" in the same sentence in a loooooooong time. But yes especially now that a lot of corporations are making decent profits and still cutting costs (= getting rid of useless jobs) it's easy for everyone to hate corporations. It's easy to make them look evil. But in reality, the only way they are going to hire more people is if they NEED more people... so basically if they are planning on expanding their business.
I think that both big corporations and the government are making a lot of money, so I think that lower taxes is something good for the populations, not exactly for the big companies.
I have also noticed that many politicians and political pundits who are in favor of growth, reducing taxes and regs, etc are often not knowledgeable enough on these subjects or at least not very good at explaining these things. It's important that they explain to everyone in simple terms WHY lowering taxes and cutting excessive regs are good for EVERYONE, and why things like a $15-20 mandatory minimum wage and more and more "free stuff" and government programs for some people that are paid for with tax dollars of others are actually harmful for the country and everyone in it in the grand scheme of things.
