@ISIDEWITHQuestionseconomy11yrs ago

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

Should Spain raise or lower the tax rate for corporations?

Spain's corporate income tax rate is currently 30% and is currently one of the highest in Europe. It 2015 it will be reduced to 28% and will fall to 25% in taxable years starting from 2016.

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Answer Overview

Response rates from 13.4k Ciudadanos voters.

23%
Raise
57%
Lower
11%
Raise
49%
Lower
11%
Keep current rates but eliminate deductions and loop holes
5%
Lower, but eliminate deductions and loop holes
2%
Remove taxes on corporations and tax shareholder dividends instead

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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…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

 @ISIDEWITH submitted…1wk1W

Gavin Newsom Defends Immigrants With $25 Million

Governor Newsom signed legislation allocating $50 million total to protect California's policies from Trump administration challenges and defend immigrants facing deportation, split evenly between the state's DOJ and legal defense groups.The funding comes as California anticipates renewed conflicts with Trump's administration, following over 100 legal actions against his first term policies on issues including climate, water, and immigration.Assembly Speaker Robert Rivas justified the funding by characterizing the Trump administration as "out-of-control" and threatening to Californians' constitutional rights.The signing occurred just after Newsom's Washington visit to secure federal disaster aid for January's devastating Los Angeles wildfires, which claimed more than two dozen lives.California recently enacted a separate $2.5 billion fire relief package, with expectations of federal reimbursement for disaster response costs.Republican lawmakers criticized the legal defense funding as a political distraction from wildfire recovery efforts, with State Senate Minority Leader Brian Jones calling it a "slush fund."Critics raised concerns about the possibility of funds being used to defend immigrants with serious felony convictions, though Newsom indicated this wasn't the intended purpose.The legislation emerged from a special session Newsom called shortly after Trump's election in November, demonstrating California's proactive stance against anticipated federal challenges.During Trump's first term, California initiated more than 120 lawsuits against his administration, spending approximately $42 million on legal battles.Annual legal expenses fighting federal policies during Trump's first term ranged from $2 million to nearly $13 million per year.

▲  1120 replies