Australias corporate tax rate is 30%.
We then worked out that after all deductions and tax evasion was factored in our effective tax rate is 10.8%.
Our conservative genius government then lowered the tax rate, and barely anything changed, because no one was paying the tax rate anyway.
They estimate of the profit that did eventuate from the cuts 80% went offshore and 15% went to shareholders.
Effect on the economy was minimal.
They also passed laws to help the corporations like slashing weekend penalty rates.
The result of that change was the worst christmas season sales since the great depression and a lot of businesses losing a tonne of sales, jobs are down also.
Fact is the corporate world has shown again and again they more money they make the less jobs they create and the less they have to invest.
Why would they need to throw money away building new stores to generate a profit when you just handed them FREE MONEY with NO cost to them?
They simply laugh all the way to the bank.

This post was edited by Plaguefear on Dec 1 2017 07:16pm

A lot of stupidity going on in those two sentences.

1. Having more money never equals in less investment. More money on a balance sheet always means either stock buy back or growth. A business isn't going to suddenly downsize because hey, we got free money coming in from tax breaks so you know what, we'll do less business.
2. You do realize that many corporations are publicly held right? Meaning normal people with retirement accounts or people that have been saving their entire life invest their 401 k accounts, etc. That money will already be hit with taxes when withdrawn/full matured etc. but that's not enough for you, you still want to smack them over the head with a 30% + corporate tax rate, that's not counting the 10% (here in the US) on any capital gains from those stocks appreciating in value when you trade them. It's not "free money" it's money the company earned on behalf of the stock holders but somehow you have the audacity to actually blame them for it and force them to pay a fee?

This post was edited by ofthevoid on Dec 1 2017 08:44pm

dont bother with plaguefear the jsp aussie version of elizabeh warren.

hes always arguing from a position of “here in Australia” which means nothing because they let him, a self-described privileged white male, claim aboriginal status

he also decries the “rich” and “corporations” for having money and being selfish with their gains all the while being a multi-millionaire that refuses to give away his funds to the downtrodden (yet preaches others to partake in such actions)

Not even going to bother pointing out how wrong you are because your aggressive posting manner makes you seem like a toddler.
News flash mate:
Companies make record profits and scale back investment ALL THE TIME.



I give away enough to charity to buy a decent used car every year.

This post was edited by Plaguefear on Dec 1 2017 09:01pm

and he just said in a bitcoin thread how he is holding onto his digital investments long term and not cashing out his investments, because he doesn't want to pay the capital gains tax

claims: he has digital investments, millions of dollars, his own business, works for bp, owns almost 7,000 acres of land, avoids taxes

cries about the rich and corporations

I would be an idiot not to have digital investments, i invested heavily in bitcoin when the hype started, then in etherium when some one made a donor forum post about it, i lost quite a bit by trading bit coin for etherium
I do not own anywhere near 7,000 acres of land, my extended family probably does, but my close family only owns 2,700 acres and it is all cattle property in north queensland.
I personally own about 1 acre
I also do not avoid taxes, i pay them whenever i am legally obliged to, holding onto an asset that has been appreciating value that will be taxed heavily upon cashing it out is not avoiding taxes, it is avoiding being a moron.

did we win yet?

Its an all night "vote-a-rama"

Its going to take forever REEEEEEEEEEEEE

http://thehill.com/homenews/senate/362878-live-coverage-senate-holds-tax-reform-vote-a-rama

related



this is some next level last minute shit


This post was edited by duffman316 on Dec 1 2017 11:15pm

I trust pelosi about as much as exxon sushi.