Breaking news - Corp tax will be 15%!!!

[AtW]

In America...

US Treasury secretary: Business tax will be 15% under Trump's reforms - business live

https://www.theguardian.com/business...-business-live



Tory Scum now got a real problem - 17% corp tax in UK simply won't cut it...

[jamesbrown]

UK simply won't cut it...

You got that bit right

It is a big deal, but it's also just the headline rate. The states levy corporate taxes too. The US corporate tax system is nuts, so it needs reform. There are high headline rates and myriad ways of reducing those rates. I'm not sure they'll get 15% through Congress though. If they do, I wouldn't expect May to respond with her new majority. If she did, it would have to be alongside a complete overhaul of taxation on distributions

[BrilloPad]

Businesses of a decent size only pay 0.00001%

Instead of welfare we have corporatefare.

[scooterscot]

Race to the bottom. Last one to the bottom wins!

[diseasex]

Race to the bottom. Last one to the bottom wins!

There are always infinite negative numbers.

[BlasterBates]

The most important thing is the fact that the border adjustment tax isn't in the plan.

This is good, this is very good.......

I'm beginning to warm to Trump.

Shame really as the UK carries on its protectionist rampage the US double backs and resumes business as normal, leaving the UK conspicuously alone in the new "World order". A "beacon of light", isn't that the phrase Liam Fox uses.

[northernladyuk]

Businesses of a decent size only pay 0.00001%

Instead of welfare we have corporatefare.

Proper businesses don't make a profit.

[SueEllen]

Proper businesses don't make a profit.

And you should know...

[BrilloPad]

Race to the bottom. Last one to the bottom wins!

If the bottom is on a dog then MF usually wins.

[jamesbrown]

The most important thing is the fact that the border adjustment tax isn't in the plan.

This is good, this is very good.......

Yep. Listening to Cohn and Mnuchin, they were a bit light on detail about the "territorial" system, but it sounds like the BAT is not part of the proposal, at least for now.