It’s a given in certain political circles that lowering the corporate federal tax rate will mean new jobs for Americans.
Unfortunately, it’s not true. Some of the biggest companies in the land, as several recent news reports have pointed out, routinely pay little or no federal taxes on their profits.
And while paying no taxes, they have cut jobs here at home and created thousands of new jobs overseas.
If they’re already paying NO federal taxes on their profits and laying off Americans, how will lowering the tax rate spur job creation in the U.S.?
I’m all for reducing the corporate tax rate, especially to help small companies grow their businesses.
But corporate tax dodgers who pay nothing, need to start paying their fair share before the government gives them another tax break.
So, the next time your favorite politician whines about the need to lower the corporate tax rate, tell them the first priority is closing the corporate loopholes. Then talk about cutting the tax rate.
Send them these links, too.
The Daily Show video: I Give Up — Pay Anything
The Daily Beast: 15 Top Corporate Tax Dodgers