Quote:
Originally Posted by robaur
Corporate tax rate increased from 10% to 12%.
Let's play a little math game. A change of 2% incrementally is an increase of 20%.
Let's say the corporate tax was 1% and it was raised to 2%. It's a 100% growth!!! What are corporations going to do!!!???!!!
Point being....20% increase is misleading....its only a 2% incremental raise. Depends on how you look at it. It's not the end of the world.
Just depends on how you look at it and which media outlet is printing the headline.
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Think it's the 2 percent that is misleading.
If your taxable income is 100K your tax was 10K
With a 12 percent rate it is now 12K that's not 2 percent more that's 20 percent more
10K-12K=2K
2K of 10K is 20 percent.
You are paying 20 percent more taxes now.