Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

What Would the Entrepreneur Do?
The Goldwater Institute ^ | 8/3/06 | Noah Clarke

Posted on 08/03/2006 9:21:22 AM PDT by GoldwaterFellow

Phasing out the corporate income tax would keep Arizona at the head of the pack

At 6.97 percent, Arizona has one of the highest corporate income tax rates in the West. Despite this fact Arizona's economy keeps motoring along. Unemployment remains low and average earnings continue to rise, now just over $40,000. But like any NASCAR champion will tell you, if you want to stay ahead of the pack, you have to improve every year.

Hard working entrepreneurs are responsible for the state's growing prosperity. The best thing Arizona policymakers can to do to help them keep on keeping on is lower corporate income taxes.

Nevada, Washington and Wyoming don't impose corporate income taxes at all. And Colorado and Utah offer lower tax rates, 4.63 and five percent respectively. Adjusting for population, more than twice as many new businesses open their doors in these five states than do in Arizona. In race terms, that would get Arizona a yellow flag for economic progress.

To stay ahead, Arizona could rev its economic engine by phasing out the corporate income tax.

Noah Clarke is an economist with the Goldwater Institute Center for Economic Prosperity.


TOPICS: Business/Economy; US: Arizona
KEYWORDS: corporateincometax

1 posted on 08/03/2006 9:21:25 AM PDT by GoldwaterFellow
[ Post Reply | Private Reply | View Replies]

To: GoldwaterFellow

Doing away with income tax all together would be much better for this country. It is no wonder that businesses are moving overseas, and that many people with good ideas refuse to start companies just so that they can have all their hard earned income extorted by the IRS.


2 posted on 08/03/2006 9:24:57 AM PDT by Concho (IRS--Americas real terrorist organization.)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson