@ISIDEWITHQuestionseconomy11yrs ago

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

Should Denmark 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 426 Denmark voters.

31%
Raise
48%
Lower
27%
Raise
44%
Lower
4%
Keep current rates but eliminate deductions and loop holes
4%
Lower, but eliminate deductions and loop holes
0%
Remove taxes on corporations and tax shareholder dividends instead

Historical Support

Trend of support over time for each answer from 426 Denmark voters.

Loading data...

Loading chart... 

Historical Importance

Trend of how important this issue is for 426 Denmark voters.

Loading data...

Loading chart... 

Other Popular Answers

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

Latest News

Stay up-to-date on the most recent “Corporate Tax” news articles, updated frequently.

 @ISIDEWITH submitted…8mos8MO

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…7mos7MO

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.

Popular Conversations

Join in on the most popular conversations.

 @ISIDEWITH submitted…1mo1MO

Vetting Fiasco: Trump's Defense Pick Caught in Sexual Assault Allegation Storm

CNN commentator and New York Times reporter Maggie Haberman said President-elect Donald Trump’s team missed Pete Hegseth’s payoff to a sexual assault accuser when they vetted him to be secretary of defense.Hegseth is among a raft of cabinet picks facing tough confirmations, and who aren’t being subjected to the customary FBI checks, instead being vetted by private firms. Over the weekend, Hegseth’s attorney dropped the bomb that there was a confidential settlement with a woman who accused the former Fox News host of sexual assault. On Monday night’s edition of CNN’s The Source with Kaitlan Collins, Haberman revealed that her sources in Trump world did not know about the payoff, which was missed in the vetting “because it was a private settlement”HABERMAN: There’s more concern from some people around Trump than there is from Trump himself, about this whole issue. Trump has really dug in, and has told advisers that he is going to stick with Hegseth. Now, we’ll see if anything else emerges.They did do a vet, we are told. This did not show up, this issue, because it was a private settlement, according to the people, who were briefed on what took place. Trump really likes Pete Hegseth. But this did introduce the thing Trump doesn’t like, which is an element of surprise and a negative headline. And so, we will see where this goes.

▲  59 replies

 @ISIDEWITH submitted…2mos2MO

Inside the Podcast Revolution: Trump’s Unfiltered Strategy and Harris’s ‘Meltdown’ Risk

Tech billionaire Elon Musk attributed President-elect Trump’s election victory, at least in part, to the lengthy podcast interviews he did during the campaign.In an interview late Tuesday with former Fox News host Tucker Carlson, Musk said Trump’s podcast appearances showed the American public that he was a normal person.“I think it made a big difference that President Trump and soon-to-be Vice President Vance went on lengthy podcasts,” Musk said in the interview.“I think this really makes a difference because people look at, like, Joe Rogan’s podcast, which is great, and Lex Fridman’s and the All-In podcast, and, you know, to a reasonable-minded, smart person — who’s not, like, hardcore one way or the other — they just listen to someone talk for a few hours and that’s how they decide whether, you know, you’re a good person, whether they like you,” he added, according to a clip highlighted by Mediaite.Trump conducted many interviews with new media during his campaign, as well as with legacy news organizations such as Fox News.Last month, he joined Joe Rogan’s podcast for a 3-hour long interview. The celebrity host later endorsed his candidacy.His opponent, Vice President Harris, did not appear on Rogan’s podcast because, according to “The Joe Rogan Experience” host, the Harris campaign only had an hour and required him to travel to her. Rogan said he felt “strongly” that the “best way to do” an interview with the vice president would have been in his studio in Austin, Texas.Musk recalled posting on his social platform X account that “nothing would do more damage” to Harris’s campaign than going on Rogan’s podcast, “because she would run out of non-sequiturs after about 45 minutes.”“You can’t hide for three hours,” Carlson replied.Musk added, “Yeah, like, hour two and three would be a complete melted puddle of nonsense. So it would just be absolute game over. That’s why she didn’t go on.”“But on the other hand, Trump, he’s there, and there’s no, there’s no talking points,” the Tesla CEO continued. “He’s just being a normal person who’s having a conversation, and doing three hours of Rogan, no problem.”

▲  349 replies

 @ISIDEWITH submitted…1wk1W

Defense Bill Blocks Transgender Care To Minors

The Senate on Wednesday gave final approval to a defense policy bill directing $895 billion toward the Pentagon and other military activities, moving over the objections of some Democrats who opposed a provision added late in the negotiations that would deny coverage for transgender health procedures for minors.The 85-to-14 vote, coming a week after a divided House passed the same measure, cleared the bill for President Biden’s signature.Most Republicans and many Democrats supported the measure, which provides a 14.5 percent pay raise to junior enlisted service members and a 4.5 percent pay raise for all other service members. It also expands access to meal assistance, housing and child care programs that benefit those in uniform.But several Democrats withheld their backing in protest of a provision preventing TRICARE, the military’s health care plan for service members, from covering “medical interventions for the treatment of gender dysphoria that could result in sterilization” for children under 18.The language, which would affect the gender-transitioning children of service members, was recently added to the measure at the insistence of Speaker Mike Johnson, Republican of Louisiana, who refused to bring a defense bill to the House floor without it, according to aides familiar with the negotiations.Twenty-one Democrats, led by Senator Tammy Baldwin of Wisconsin, proposed an amendment to strip the provision from the bill, but the matter was never brought to a vote. Several of them took to the floor on Tuesday to lodge their objections.“It’s flat-out wrong to put this provision in this bill and take away a service member’s freedom to make that decision for their families,” Ms. Baldwin said, estimating that the provision could negatively affect as many as 6,000 to 7,000 military families.

▲  1913 replies3 agree