Remember Occupy Wall Street

[VictorCharlie]

The rate is somewhat irrelevant to what is paid. Sure the US has one of the highest corporate tax rates but the code is so convoluted and thick that there are as many loopholes, credits, deductions etc as rules that a massive business like GE could pay nothing in corporate taxes. The real lobby there is the accountants and lawyers. If you dropped the rate to say 15% of net profits excluding the top percentiles' compensation of each corporation the real loser is the gigantic accounting firms that bill millions to save the businesses billions.

[Andre]

I was wondering if Peter schiff was being honest saying he employs a hundred people and pays 50% in tax?

If you are a sole trader out here and earn over a certain sum,I forget, maybe its 150,000 personal, you can pay those amounts 50% but you'd be crazy to ignore the advantages available and actually do so.

[Kirkland Laing]

I was wondering if Peter schiff was being honest saying he employs a hundred people and pays 50% in tax?

If you are a sole trader out here and earn over a certain sum,I forget, maybe its 150,000 personal, you can pay those amounts 50% but you'd be crazy to ignore the advantages available and actually do so.

He pays low single digits in tax. He runs a fund and will employ a few people and subcontract a lot of say analysis work out to freelancers and have professional people like accountants and lawyers deal with the the legal/tax aspects of what he does so he's counting them and their staff as employees.