The corporate tax rate is too damn high

Washington Examiner | Sep 7, 2017, 12:01 AM

"Will be going to North Dakota today," President Trump tweeted early Wednesday morning, "to discuss tax reform and tax cuts. We are the highest-taxed nation in the world — that will change." Twitterers in the press and in policy circles responded immediately, repeatedly, and vociferously, pointing out that other nations tax a lot more of their people's and their companies' earnings than the U.S. does.  These giddy corrections of yet another Trump error miss the crucial point that America's corporate income tax rate of 35 percent is the highest among developed economies. When you include state taxes, the rate is 38.91, twice that of the U.K., and much higher than any other member of the Organization for Economic Cooperation and Development. ........To Read More......

My Take - I love these demagogues who scream how the rich don't pay their fair share, yet they currently pay - starting with the top 1% - 39.5 percent of all federal income taxes.  The bottom 90% only pay 29.1 %.  And of that 90% the bottom 50 % only pay 2.7% with the bottom 47% paying no federal income tax at all.

As for corporations needing to be taxed higher?  We really need to get this - pay attention - corporations don't actually pay taxes. They may write the checks, but taxes are part of the cost of doing business, so what does any successful company do when their costs rise? They raise prices. 

There should be no corporate taxes as those taxes are in reality a double taxation on the owners and a hidden tax on the consumer, especially the poor, and these Marxist demagogues know that.