@ISIDEWITHQuestionseconomy11yrs ago

Should the government raise or lower the tax rate for corporations?

Should Belgium raise or lower the tax rate for corporations?

The U.S. currently levies a 21% tax rate at the federal level and an average tax of 4% at the state and local level. The average corporate tax rate worldwide is 22.6%. Opponents of argue that raising the rate will discourage foreign investment and hurt the economy. Proponents argue that the profits corporations generate should be taxed just like citizen’s taxes.

Answer Overview

Response rates from 24 Belgian voters.

21%
Raise
58%
Lower
21%
Raise
46%
Lower
0%
Keep current rates but eliminate deductions and loop holes
8%
Lower, but eliminate deductions and loop holes
4%
Remove taxes on corporations and tax shareholder dividends instead

Historical Support

Trend of support over time for each answer from 24 Belgian voters.

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Historical Importance

Trend of how important this issue is for 24 Belgian voters.

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Other Popular Answers

Unique answers from Belgian voters whose views went beyond the provided options.

 @96RK3ZYanswered…2yrs2Y

Increase taxes on surprofits, lower tax for small businesses or for the salary of the salaried. Increase taxes on environnemental impact.

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 @ISIDEWITH submitted…10mos10MO

IRS Targets Wealthy and Major Corporations for Increased Audits, Aims to Correct Racial Disparities

The Internal Revenue Service (IRS) has announced a significant shift in its audit strategy, focusing on increasing audits for wealthy individuals and major corporations while simultaneously addressing racial disparities in its audit practices. This move comes as the IRS plans to expand its workforce and leverage new resources to crack down on tax evasion and ensure a more equitable tax compliance environment.According to the IRS, audits will intensify for Americans earning $400,000 or more and for businesses with substantial assets, aiming to ensure that high earners and large corporations pay their fair share of taxes. This initiative is part of a broader effort to enhance tax compliance and revenue collection, with the IRS indicating that audit rates for individuals earning over $10 million will increase from 11% to 16.5% by 2026. Similarly, audit rates for businesses with assets over $250 million will triple, and partnerships with assets over $10 million will see a tenfold increase in audits.In addition to targeting high-income earners and corporations, the IRS is taking steps to address the longstanding issue of racial disparities in its audit practices. Recent data revealed that Black taxpayers were audited at rates up to 4.7 times higher than non-Black taxpayers, a disparity attributed to the agency's data-driven algorithms. In response, IRS Commissioner Daniel Werfel announced an overhaul of compliance practices to ensure a more equitable approach to tax audits.The IRS's commitment to reducing the disproportionate audit rates for Black taxpayers represents a significant step towards fairness in tax administration. By revising its algorithms and compliance strategies, the agency aims to eliminate biases that have historically affected audit selection processes.As the IRS embarks on this dual mission of increasing audits for the wealthy and corporations while correcting racial disparities, it signals a transformative period in tax enforcement. These measures are expected to not only enhance revenue collection but also restore public trust in the tax system by promoting fairness and equity.

 @ISIDEWITH submitted…9mos9MO

Russia Raises Income Tax on Rich to Pay for Ukraine War

Russia launched plans to sharply raise taxes on high earners and companies to fill state coffers and fund what it sees as a long war in Ukraine.A government commission on Wednesday approved a Finance Ministry plan to introduce a new progressive income tax as well as raise corporate tax rates. The proposed amendments, which would come into force from next year, are expected to bring an additional 2.6 trillion rubles, or around $29 billion.The amendments, which represent the biggest overhaul of the Russian tax system in years, are a sign of President Vladimir Putin’s bet on a protracted and costly war and his continuing efforts to align both society and the economy with the military effort.Russia currently has a flat tax of 13% for most people, with some higher earners paying a 15% rate, a significantly lower tax burden than in the U.S. or Europe. According to the proposed changes, new rates would range from the current 13% for those earning up to the equivalent of $27,000 a year to as high as 22% for those exceeding $560,000. Per capita household income is around $7,100, according to data provider CEIC.Russia’s military expenditures are already running at over 6% of gross domestic product, approaching levels reached by the Soviet Union at the height of the Cold War in the 1980s. Earlier this month, Putin appointed a macroeconomist, Andrei Belousov, as minister of defense, highlighting the extent to which the war has become central to Russia’s economic paradigm.

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 @ISIDEWITH submitted…1wk1W

China Blacklists U.S. Companies In Trade War Escalation

China's blacklisting of PVH (Calvin Klein, Tommy Hilfiger) and Illumina marks the first time American companies with major Chinese operations have been targeted on national security grounds, signaling an escalation in trade tensions.The blacklisting came in response to Trump's imposition of additional 10% tariffs on Chinese imports, alongside Beijing launching an antitrust probe into Google.A record 30% of American Chamber of Commerce member companies were considering or already moving operations out of China, according to a recent survey.China's "unreliable entity list," introduced in 2020, mirrors the US "entity list" and could result in fines, trade bans, and restrictions on staff movement for targeted companies.PVH, which derives 6% of revenue and 16% of pre-interest/tax income from China, was specifically targeted over alleged "unreasonable boycotting" of Xinjiang cotton.The blacklisting's implications remain unclear, leaving approximately 1,000 PVH employees in China uncertain about their future.China's Commerce Ministry has declined to specify potential sanctions, stating only that companies operating with integrity have "nothing to worry about."The move contradicts China's public stance on wanting more foreign investment, creating increased uncertainty for multinational companies operating in the country.The blacklisting strategy appears selective, with China typically avoiding targeting market leaders to minimize domestic employment impact.US companies were already struggling to navigate rising Beijing-Washington tensions before this latest escalation in trade conflicts.

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 @ISIDEWITH submitted…2wks2W

Jon Stewart Begs Democrats To ‘Please Stop Trotting Out Chuck Schumer!'

Jon Stewart criticized Democrats for repeatedly using Chuck Schumer as their spokesperson against Trump, calling his performances ineffective and monotonous.Stewart mocked Schumer's response to Trump's trade war threats, particularly his simplistic explanation about Mexican imports like Corona beer and avocados.The former Daily Show host expressed frustration at Schumer's basic observation that "guacamole is made of avocados" as a response to complex trade policy issues.Stewart sarcastically highlighted the Democrats' poor strategic choice in selecting Schumer to counter Trump, whom he described as "one of the most savvy presidential media manipulators in history."The comedian ridiculed Schumer's appearance and presentation style, particularly mocking his use of reading glasses positioned low on his nose.Stewart's criticism centered on the Democratic leadership's judgment in repeatedly choosing an "uninteresting" and "monotone" spokesperson.The commentary addressed Trump's threats of tariffs against Canada and Mexico, though focused more on the Democratic response than the policy itself.Stewart used hyperbole to emphasize his point, stating that Schumer's speaking makes him "want to bomb Canada."The piece highlighted the perceived disconnect between Democratic messaging strategy and effective opposition to Trump's policies.Stewart's criticism suggested a broader frustration with Democratic leadership's media strategy and public presentation.

▲  4817 replies