White House's Kudlow floats cutting corporate tax rate in half

[Yo_Mama_Been_Loggin]

Source: Reuters

White House economic adviser Larry Kudlow on Friday floated the idea of cutting the corporate tax rate in half for U.S. companies who bring their operations back from other countries.

"Why not provide a 50% discount for the corporate tax rate if you're moving from outside the U.S. to the U.S.?" Kudlow told reporters at the White House, emphasizing that this was a thought, not a policy.

"So, the rate is 21%. Why not try for a couple of years or longer, a 10.5% rate, which would make us extremely competitive and hospitable to new investments here?"

With the coronavirus pandemic sapping retail sales, the labor market and industrial production, President Donald Trump's administration and lawmakers are eager to find ways to shore up the U.S. economy.

Read more: https://www.msn.com/en-us/money/markets/white-houses-kudlow-floats-cutting-corporate-tax-rate-in-half/ar-BB148CTm?li=BBnbfcN

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How many trillions will this cost?

[Turbineguy]

1. Kudlow's answer to every problem.

[unblock]

3. the whole republican party's answer to every problem, and every non-problem as well.

[onecaliberal]

2. Oh fuck no. There better not be even one Dem voting for this shit.

[SWBTATTReg]

4. The 2017 Tax Cut and Jobs Bill was supposed to do this. Is kudlow admitting the failure of this ...

bill to do as it was supposed to? Why should anyone listen anymore to this worthless and incompetent administration?

[bucolic_frolic]

5. The serious flaw in this line of thinking

is that the world, coronavirus or post-coronavirus, will be consuming the same as before. Kudlow is not very smart.

[Newest Reality]

6. I was just thinking...

What more can we do for corporations as they fart and belch after that last stuffing they had while we got little morsels?

Well, of course. Tax cuts. That will fix, ah, something?

Let's not give any more morsels out to the plebs, they are in short supply. Dignity of work and all that.

If you weren't born a corporation, (they are people too!) that's your own fault. YAOYO!

[Pantagruel]

7. "How many trillions will this cost?"

As Trump said in reference to earlier tax cuts enlarging the deficits. I don't care, I won't be here when the bill comes due.

[Zoonart]

8. Working the market.

Snickers bars for the 1%!

[pecosbob]

9. Instead let's start drinking milk and eating sugar in large amounts until we all shit ice cream...

since we're discussing infantile fantasies...

[Pobeka]

12. Well, dang, I thought you were on to something that'd solve a my current ice cream shortage.

... until I read your text.

[qazplm135]

17. I mean...

we'd also need a lot of ice...

[George II]

10. Except that they'll put the extra money into buying back stock or their pockets....

This is just a modified trickle down, which never worked.

Plus, the $1.7T or whatever the number wound up two years ago was supposed to do just this, but they never invested it in their capital equipment or gave employees higher pay.

[ProfessorGAC]

34. Literally Only 11%

89% of companies over 100 million in revenue used the tax boon for anything other than capital replacement.
About 28% raised salaries by more than 0.1% above what was budgeted in the 3 or 5 year tactical plan. Meaning 72% did not.
Of that 11%, 5% used the money to leverage acquisitions of small competitors with FTC rules. Of course, management of the acquired firms were superfluous staff and got launched.
So the tax cuts didn't work as planned and their precious "competition" went down.

[Bengus81]

11. Kudlow....Thanks for admitting that a 14% tax cut for Corporations didn't bring them back.........

Now you want to give them MORE??

[ffr]

13. Explode the deficit.

[Warpy]

14. They've already gobbled up funds that were supposed to go to Main Street

Somebody needs to tell that insane mofo Kudlow a few facts of life, like he was a joke when he was on the air but he's just as stupid now.

[TheFourthMind]

15. This reminds me I'm due for another reading of Das Kapital. n/t

[not fooled]

18. Especially the part

about end-stage capitalism and its fate.

[doc03]

16. They always go back for more trickle down. nt

[calimary]

19. And how many of the needy, elderly, hungry, and homeless will be hurt - or starved to death?

[Karadeniz]

20. Covid economy, kudlow, tax cuts

[mr_lebowski]

21. Gee Larry did you want us rubes to act surprised when it 'suddenly occurs to' you that

the Companies that DIDN'T LEAVE the USA ... are going to be totally fucked over by this genius idea of yours ... and hence you decide we really are going to have to cut taxes for everyone instead? What a surprise, right?

Cause I, for one, am not gonna oblige.

[BillyBobBrilliant]

22. Republicans are

So Antebellum it stinks. First they replaced the freed slaves with tenant farmers, and then when the industrial revolution began, they had factory workers to exploit. And, the service sector.

[roamer65]

23. DOA.

[Buckeye_Democrat]

24. They never quit.

If nuclear missiles were heading our way, Kudlow and his ilk would propose a corporate tax cut in response.

[Yavin4]

25. How does one cut a 0% tax rate in half?

.5 * 0 =0

[rickyhall]

26. In terms of "The 100", I'd like to see Krudehoe floated.

[mike1977]

27. Not a cost

Doesn't cost anything, it is a drop in tax revenue not a payout.

[LiberalFighter]

28. Businesses don't pay taxes. Never have.

The consumers do. And I'm not talking about the sales or other taxes generally considered part of consumer taxes.

[Yeehah]

29. More money for the rich!

Nothing trickles down except a bunch of shit!

[DallasNE]

30. Many Large Corporations Already Pay Zero Federal Income Taxes

And they have outsourced much of their production. That shows that corporate income taxes is not a major factor in the decision to outsource so Kudlow is simply wrong on his assertion. Indeed, he has a long history of being wrong and that is what is so baffling about him having his current position in the Whitehouse.

[SergeStorms]

31. Blow it out of your ass, Larry.

No more corporate welfare. Enough is enough.

[TheNewNumberTwo]

35. #firetheliars2020

"...how about a breaking wind/belch tax cut for those who spout nonsense on TV whenever they open either end?"

[noneof_theabove]

32. FIETS

This solves all the financial problems, except those that pay $0 or get -$$$ given back.

Financial Ingress Egress Tax System [ by me ©2017 ]

get it at http://www.fiets.us
please download one copy a share it so you don't put server on its knees.

basic
$50,000 yearly income
bank pull 1% on incoming pay checks [ingress]

when you buy/spend bank add 1% [egress]
if you spend all money you paid $1,000 [2% of $50,000]
if you spend $40,000 then $900 is you tax payments and you keep $10,000 for kids college taxed when it is spent

THIS IS ALL ACCOUNTS, Bill Gates, Amazon, Wall Street

Might make a hefty penalty for money moved out and into the US to/from foreign banks.

To start due to $26 Trillion deficit it might need to start for 2,4 even 4% for a few years and then scale back.

get the PDF from the web page as it has multiple pages explaining it all.

[ahimsa]

33. Punish existing always-made-in-USA companies?

Seems like the effect of this tax break would be to put companies that never off-shored production at a competitive disadvantage to those that did.

[BlueIdaho]

36. When was the last time Kudlow was right about anything? nt.