Corporate taxes: What Obama and Romney would do
September 7th, 2012
05:28 PM ET
2 years ago

Corporate taxes: What Obama and Romney would do

New York (CNNMoney) - Policymakers last overhauled the corporate tax system 26 years ago. The economy, international trade and technology have changed drastically since then.

The result is an outdated corporate tax code, which tax experts and business leaders say hinders rather than spurs U.S. competitiveness.

FULL STORY

Filed under: 2012 • Mitt Romney • President Obama
soundoff (13 Responses)
  1. Mikey

    Is it just me, or do they look like Siamese twins in the picture?

    September 7, 2012 06:05 pm at 6:05 pm |
  2. Namejkane sfl a vote for the gop will cut your moms medicare and soc sec .can you afford to pay for them???

    Hay idiots ,somebody needs to pay taxes in this country to take care of our citizens and infrestrucecture ,its time for the fat cats who are siting on 2. Trillion dallars in profile to kick in , that includes you and your wife ,romney the tax cheat . How can anybody consider voting for a guy who would cut your parents Medicare and soc sec trust funds to give it to his wall street cronies to make a buck off it . Why do you think wall street cronies of romney the tax cheat give him millions. I hope all you dems and republicans can afford to pay for your parents healthcare after they get rid of Medicare and soc sec and medicade ,I hope you can afford it after romney outsources your job to China . Do you trusssst these two republican morons and mormons ????? You need to be just plain stupid to vote gop !!!!! Romney and lyin than the goof don't need soc sec or Medicare , their thieves !!!!!!!

    September 7, 2012 06:09 pm at 6:09 pm |
  3. Pete

    Well it does need restructuring,all 75,000 pages and we have to stop big corporate lobbying firms from using money to change codes to benefit them,that's why its has so many pages..Code changes and amendments just don't stop,they just compound the problem making it more difficult to really have a healthy system,cut in down by simplifiing it,plain and simple,the code should reflect that..

    September 7, 2012 06:25 pm at 6:25 pm |
  4. Namejkane sfl a vote for the gop will cut your moms medicare and soc sec .can you afford to pay for them???

    Romney the tax cheat is going to get trashed in Nov . Republicans have mothers too ,but I don't think they want to pay for their healthcare when romney the tax cheat and lyin Ryan issue worthless vouchers and they have to move in. Your house !!!

    September 7, 2012 07:30 pm at 7:30 pm |
  5. Pete

    Well it does need restructuring,all 75,000 pages and we have to stop big corporate lobbying firms from using money to change codes to benefit them,that's why its has so many pages..Code changes and amendments just don't stop,they just compound the problem making it more difficult to really have a healthy system,cut it down by simplifiing it,plain and simple.The code should reflect that by just making taxes a straight percentage or flat tax to a certain amount,then graduate the scale over 1 million,cut these corporate loop holes and quit subsidizing big oil ,they get paid for drilling domesticly here from the government as well and oil companies pay private well owners to cap their wells for a fee,so big oil can create shortages by curtailing private production,it should be illegal but congress,senate are in big oils pockets!!

    September 7, 2012 07:55 pm at 7:55 pm |
  6. Former Republican, now an Independent

    It's a simle answer. Romney would ask corporation what they want a give it to them. He would make it up by restructuring the tax code to ensure middle class working people paid for the cuts. Obama would take more balanced approach.

    September 7, 2012 08:51 pm at 8:51 pm |
  7. Emerson

    So after reading this it is clear who is working for the entire nation and who would be working only for the corporations. Wake up America and sweep out the do nothing GOP.

    September 7, 2012 09:48 pm at 9:48 pm |
  8. Thomas

    What ever Romney say's he will do , he will smile.

    Show us your taxes .

    September 8, 2012 03:59 am at 3:59 am |
  9. J.V.Hodgson

    Here we go again. The Obama plan is much more factual and realistic and consequently a better solution. Romney does not have all the data, economists, tax experts and CBO; to do all the numbers. It is interesting to see where they agree but last time this was even " raised" ha ha Norquist is there with his damned pledge!! And failed after 2 years of negotiations in house and senate!!
    So I say to Obama put this into a more simple policy statement. Its a winner, along with Bowles Simpson spend ideas while keeping defense cuts.
    The one I as Tax CPA disagree with Romney ( and especially if you want to keep manufcturing jobs in the US) overseas operations must pay local corporate taxes and then if US taxes are lower they pay no further tax but get an allowance. That is in fact the international double taxation treaty normal basis, and applies to any profit income.
    What this article fails to mention is that the average effective rate of corporate tax in the USA is 16-17% because of tax breaks etc and is the third lowest internationally.
    Good article just a little incomplete.
    Regards,
    Hodgson.

    September 8, 2012 04:57 am at 4:57 am |
  10. Vote for Seamus, elect Kolob's next dog catcher

    Romney only needs to bring incompetents back to government, the crooks will do the rest.

    Tax breaks for the rich.

    September 8, 2012 08:48 am at 8:48 am |
  11. Marie MD

    President Obama fights for the middle class and the poor.
    The twit who likes to fire people (and he has) and says corporations ARE people is all for big corporations and those super millionaire ceos.
    CEOs are making millions while they fire the older workers, good workers because the money hasn't trickled down for decades. One company's five top administrators made $175M collectively in 2007. In 2011 this same group made over $350M!!! Who's got the jobs and the money? Not the poor nor the middle class.

    September 8, 2012 09:27 am at 9:27 am |
  12. Pete

    Pres.Obama wants to scale back corporate rates,Romney wants to eliminate them completely.But it won't spur hiring as Romney thinks,corporations act like they're on thin ice,they're scared of hiring like walking out because like everything else the bottom may just fall out and they most certainly don't want to drown in debt with no government intervention..Romney wants capital gains tax eliminated as well,he and his elitist buddies live that way,they'd most certainly gain from that one change wouldn't they!!!75,000 page federal tax code has to be restructured,it'll take years and much experimentation because nothings ever right tax wise on the first try,not everyone is happy so it'll just take time,why not it didn't get that big overnight right!!

    September 8, 2012 10:17 am at 10:17 am |
  13. GI Joe

    Romney lies, people die. He wants so badly to take out Iran for Israel. He has no clue what American blood on a battlefeld looks like.

    September 8, 2012 10:19 am at 10:19 am |