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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCollege Could Be Free In America If Corporations Paid Reagan-Era Taxes
http://www.huffingtonpost.com/entry/college-could-be-free-in-america-if-corporations-paid-reagan-era-taxes_us_57163d60e4b0018f9cbb11c1Governments could be receiving an extra $167 billion annually if corporations paid Reagan-era tax rates.
If corporations paid the same tax rate as they did under Ronald Reagan, governments in the U.S. would have enough money to fund prekindergarten for every 4-year-old in America and higher education for every American attending public colleges and universities, according to a Huffington Post review of government data.
Corporations paid an effective tax rate of 31.7 percent on average during Reagans eight years in the White House, according to Commerce Department figures that measure corporate profits and taxes paid to local, state, federal and foreign governments.
But in the seven full years President Barack Obama has occupied the post, corporations have enjoyed a 22.8 percent effective tax rate on their profits, Commerce Department data show.
The average annual difference, if applying Reagan-era tax rates to Obama-era profits, comes out to $166.7 billion.
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Clinton and her supporters, wrong, as usual.
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College Could Be Free In America If Corporations Paid Reagan-Era Taxes (Original Post)
Ferd Berfel
Apr 2016
OP
Faux pas
(14,681 posts)1. Kickin'
WDIM
(1,662 posts)2. Imagine if we went back to Einsenhower tax rates
We could really rebuild this country and the middle class.
ViseGrip
(3,133 posts)3. Eisenhower warned us about the Pentagon that Hillary is feeding for power, money, and votes.
Abouttime
(675 posts)4. Just a start
capital gains should be taxed at the ordinary rate for income including FICA and social security.
There is also no good reason the rich should collect social security and Medicare. If you're fortunate enough to be wealthy you should pay for your own retirement and healthcare.
Ferd Berfel
(3,687 posts)5. What's her next failure in judgemenet going to cost?
ErikJ
(6,335 posts)6. GOv. Reagan is the one that ended free state colleges in Calif
in the late 60's as punishment for the uppity hippies protesting the war.