Posted on 09/19/2007 3:57:46 AM PDT by Kaslin
America's global competitiveness is one of Washington's hottest topics. But as a recent Department of Treasury report shows, Washington appears to have lost sight of what it entails. A comparison of the industrialized world's corporate tax rates shows America losing its advantage by simply standing still.
Hard as it is for most Americans to accept, our competitive advantage is not inherent. It has been the product of economically sound tax policy coupled with unique circumstances following World War II.
The natural ending of our unique advantages only increases the importance of those conditions we can control. Yet during our prolonged period of ascendancy, there are disturbing indications that we may have forgotten the value of the basics.
(Excerpt) Read more at ibdeditorials.com ...
Cut ALL taxes/ rich and poor!!!
Good idea
The key phrase here, which so many economic illiterates have no clue about:
“The second mistake is the false equation of corporations to “the wealthy” and that the wealthy can be taxed through them.In fact, corporations don’t pay taxes; they pass them to their employees, their customers and their shareholders — most of whom are hardly wealthy.”
Corporations DON’T pay income taxes. THE CONSUMER DOES!
Exactly. So every time these idiots in DC want to increase the taxes on the corporations it is the consumer who pays. It makes me wonder if they ever learn
DING, DING, DING, DING - The Free Republic understatement of the day!
I find it fascinating how thoroughly the left has the average Joe, not just thinking, but believing that corporations are evil and that by taxing them somehow it makes things all better. With every passing day I am literally amazed at the idiocy and stupidity that exists in this country.....but, that's what happens when you let the Leftists in gubmint run the indoctrination centers, er, uh, I mean skools......
Our high corporate taxes are more the cause for offshoring and the pressure to reduce manufacturing employment than our wages.
Moreover, a good portion of their shareholders are tax exempt. This is the case when the shareholder is a pension fund, a tax-advantaged entity like a foundation, or a US Person who holds their shares in some types of IRA like a Roth. Just a notable, the US government does not tax any capital gains earned by a non-US Person who holds US listed shares.
More importantly, cut government spending.
It's because their pea-brained supporters squeal with approval at "getting" the evil rich corporations. How come I was able to see through this liberal BS by the time I was 22 years old, but people in their 50s still cling to stupidity.
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