How do corporate tax rates in the United States compare to those of other countries around...

How do corporate tax rates in the United States compare to those of other countries around the world? Rates for both corporations and individuals were changed in 2017 after President Trump signed the Tax Cuts and Jobs Act. What was the impact of these changes on U.S. corporations? Who has benefited from these changes? What are the potential impacts to corporate taxation as a result of the upcoming 2020 Presidential election? What would you recommend regarding corporate income tax rates?

Solutions

Expert Solution

Corporate tax rate in India United States of America have been very high before the corporate tax rate cut has been done and it is one of the highest in the entire world but after the rate cuts have been implemented by the Donald Trump government. They have done it in order to attract the domestic companies to produce higher amount of jobs in America itself and not outsource their employment opportunities to other countries because they are providing them with the lower taxes these companies will be inclined towards production in their own countries and this should be leading to generation of employment in their own countries.

Impact of the tax cuts on United States corporations has been positive and it has led to lower outsourcing of jobs and more of the domestic manufacturing and it had led to increase in the Gross domestic Product because of the production in the United States itself and it has also encouraged a large number of companies to produce their goods and services in America itself because of the lower tax regimes.

Potential impact of the corporate taxation as a result of 2020 presidential election would be leading to more of the tax advantages as it has been promised by the Joe Biden as well so it would be leading to more of the generation of the employment in the America itself and it would be leading to overall lower tax regime for companies in order to produce and generate employment opportunity in America.

jeff jeffy answered 2 years ago

Next > < Previous

Related Solutions

How do competing interests differ between the United States and that of other countries with regard...

How do competing interests differ between the United States and that of other countries with regard to energy? How does the United States compare to other countries with regards to its views on energy production (including the use of biomass) and energy consumption? How do the actions of other countries impact the US energy sector?

How do Tax Rates in the US compare with tax rates overseas?

How is the productivity of the United States compared to other countries in the world? Are...

How is the productivity of the United States compared to other countries in the world? Are we still a leader in productivity?

Discuss how indigenous people in the United States compare with those in Venezuela

Discuss how indigenous people in the United States compare with those in Venezuela, in terms of how oppressed or prosperous they are, how much they've blended into the mainstream culture, how economically successful or impoverished they are, and their cultural contributions.

What are the economic benefits and costs of other countries implementing lower corporate tax rates, like...

What are the economic benefits and costs of other countries implementing lower corporate tax rates, like Trump has recently done in the US? Show equations and economic theory to support your answer.

4.1 Suppose that interest rates in Australia rise relative to those in other countries. (a) How...

4.1 Suppose that interest rates in Australia rise relative to those in other countries. (a) How will this policy affect real GDP in the short run if Australia is a closed economy? (b) How will this policy affect real GDP in the short run if Australia is an open economy? (c) How will your answer to part b change if interest rates also rise in the countries that are the major trading partners of Australia?

How does the income distribution in the United States compare with the income distribution in other...

How does the income distribution in the United States compare with the income distribution in other nations? 9b. Examine, the degree of income inequality in our nation. 9c. Explain, why the gap in earnings between skilled and unskilled workers is growing in the United States.

compare and contrast the fertility and mortality rates of Japan and the United States

How do ethical practices differ in the United States, and in European countries such as France...

How do ethical practices differ in the United States, and in European countries such as France and Germany? What implications does your answer have for U.S. multinationals operating in Europe?

Subjects