Corporate Tax Policy comparison between the United States and Ireland: Which policy is more effective in creating jobs and revenue - Research Paper Example

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In this paper, I will argue that the corporate tax policy for United States and Ireland differ in relation to structural and ideas theories in terms of job creation and revenues generation. Tax policies have been seen to differ from one country to another. Amongst the reasons…
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Corporate Tax Policy comparison between the United States and Ireland: Which policy is more effective in creating jobs and revenue
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Download file to see previous pages The overall gain in structural policy and views or ideas incorporated here, creates more avenues for job creation and generating more revenues in an individual country. United States of America tax policy depicts very high rates since the twentieth century while that of Ireland portrays low rates in their tax policy. The difference has been determined in the corporate tax rate that is over 20% between the two countries. Economists have argued that the moves have had differences in the global competitive race. United States ranks behind Ireland in attracting foreign investors through corporate tax policies established.
United States: Federal 15% to 35%. States: 0% to 10%, deductible in computing Federal taxable income. Some cities: up to 9%, deductible in computing Federal taxable income. The Federal Alternative Minimum Tax of 20% is imposed on regular taxable income with adjustments 4.
The structural corporate tax rates in the USA are very high. These have left the country facing many challenges in sustaining the economic standards at a time when the inflation is high and adverse economic conditions are looming all over the world. The value of the dollar is reducing with the passing years since there is reduced income generation and the spending by the government has increased. With the high standards of living, the unemployment rates have risen to 30%. The effects substantiating to this have been argued by Paul O’Neil, the treasury secretary, towards high corporate tax rates that has discouraged financial investors from other nations. He argues that the move would make United States more formidable from this simplification. Hubbard, the chairman of the president’s council of economic advisors emphasized on the same move as O’Neil in tax policy reforms. His case was however for reducing the corporate taxes and capitals gains. He also suggested that an alternative minimum corporate tax rate should be adopted. The international tax and trade policy ...Download file to see next pagesRead More
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