We need to eliminate the taxes and most of the regulation at the bottom of the corporate structure like on manufacturing if we really want to create jobs. In fact we should be encouraging self employment and small business the same way.
Its nice to cut taxes at the top but in this environment, they just invest overseas. Hell, who can blame them.
Exactly. The whole concept of taxing corporations is wrong. It is always double taxation as the owners are taxed on the same income the corporation has already paid taxes on. On overseas profits, it is triple taxation. Corporations are nothing but groups of shareholders.
The shareholders are taxed and can vote on taxation and regulation. The corporation is paying taxes but cannot vote on taxation or regulation. The only method for corporations to affect government is lobbying — for which they are vilified.
Eliminate taxation at the corporate level and tax only the owners of the corporation when the profits have been returned as dividends or capital gains. This would eliminate not just the double taxation, but the overhead of tax accounting and the largest incentive to lobby the government.
“In fact we should be encouraging self employment and small business the same way.”
Non-corporate business at least only pays taxes once on its profits.