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"After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world. "
Calvin Coolidge
What's happened America? Because we definitely ain't pro-business anymore!
"Corporate" tax is double taxation in the first place. Those corporations are owned by stockholders, who already pay income tax (on dividends) or capital gains taxes on monies made on stock sales. Our high corporate income tax just forces companies to use various tax shelters or move off shore.
"Corporate" tax is double taxation in the first place. Those corporations are owned by stockholders, who already pay income tax (on dividends) or capital gains taxes on monies made on stock sales. Our high corporate income tax just forces companies to use various tax shelters or move off shore.
Which in every company in american they have accountants to take advantage of every loop hole known to mankind.
In addition I will give an example of the bidding wars going on between the states for company hq just like where i reside in Illinois example sears
Strikes me as the fastest way to create jobs. Millions of jobs overnight.
Thoughts?
Its definitely not the fastest way to create jobs. The fastest way would be to get a few million people, and give them shovels. Tell half to dig holes, and tell the other half to come along behind them and fill in the holes.
Also, not the fairest way to create jobs; if we tax individuals, then we should tax corporations as well. Do away with corporate tax, then you must also do away with personal tax. Corporate entities enjoy many individual liberties, like donating to politicians, so therefore they should share in the individual responsibility of paying taxes. 0% taxes would give corporations an upper hand in the political process over individuals who were paying 25-35% tax rates.
I will say that the jobs it did help create would be more productive than other job creation methods.
So corporations have shipped jobs overseas because of America's poor infrastructure, high crime rate, and poor education. Interesting. I haven't heard that one before.
I'm sure you haven't, or at least haven't given other possibilities a thought. High effective corporate taxes have not prevented jobs being shipped overseas, especially China. The key there is cheap labor. The people who run these corporations are looking for quick bucks, not necessarily quality. A part of the problem is that these corporations are primarily run by money managers, not necessarily owners of the business who would make a few sacrifices for themselves so that their "baby" benefits.
America cannot make up for the cost of labor unless it becomes a third world country with people earning only a fraction of what they do right now. What it could do is instill a sense of quality, not quantity, being better, a look at Germans and how their manufacturing is thriving despite of considerably higher corporate taxes compared to (even) the neighbors.
Taxes are merely an excuse, not a solution. An effective solution to a problem must consider a bit more than common perceptions.
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