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In the 1990's we entered into the Global Economy Blind and lost millions of jobs. Why? Our corporate tax rates are the
2nd highest in the world. The same way High Taxes pushed jobs out of states; High Corporate Taxes exported our jobs.
Small businesses are also being killed with high taxes. Why didn't we hear the words "Global Economy" mentioned
during the Presidential election? We
have heard for years that we are changing into a Service Economy. Why? Because we are killing our manufacturing base. The
maddening thing is, no one is fighting to save our jobs. In the 1990's Countries all over the world cut their Corporate Tax rates and
stole our jobs. The Democrats and Republicans have sat back for over 20 years now wishing companies a
safe trip. Those are our good paying jobs. This has resulted in the middle class shrinking.
When people find new jobs they are typically making less. Over the last 20+ years the middle class has lost purchasing
power.
America is one of the only developed countries that double-tax the international profits of our own companies.
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As Industrialized Countries Cut Corporate
Taxes, U.S. Rate Still Second-HighestCanada, the Czech Republic, Korea,
and Sweden all cut their corporate tax rates in 2009, distancing the United States even further from the pack with its combined
federal and state rate of 39.1 percent.America's high corporate tax
rate should be a red flag to U.S. lawmakers worried about the country's flagging economic growth, slow wage growth,
and our overall global competitiveness.http://www.taxfoundation.org/news/show/24980.html
New Zealand's Growth from tax cutsThe
record speaks for itself – the 1988 cut in the corporate tax rate is a good example. In the decade
before 1988, net revenue from company taxes averaged almost one billion dollars a year, while in the decade after, it was
three times as much - almost three billion dollars per year. This
is a remarkable result – a sustained revenue pattern three times higher than the previous decade, once
the corporate tax rate had been cut from 48% to 33%. To the non-business person, the result is counter-intuitive,
since the expectation would be that revenue would decline in proportion with the size of the tax cut. Reducing
the tax rate by nearly a third would surely result in about a third less revenue, wouldn’t it? But
this expectation overlooks both the incentive and stimulus effects that tax cuts give. Ask any business
owner what they would do if their tax bill was cut by a third and they will surely say they’d invest the balance back
in the business. This is the essence of why tax cuts work. They give businesses the
confidence, and the wherewithal, to invest.
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Corporate Taxes Are Killing U.S. Auto Industry U.S. companies pay about 34 percent more in taxes than those operating elsewhere in the Organization for Economic
Cooperation and Development, a group of the richest nations. That drains cash reserves that are necessary for retooling when
the bad times hit.
We have heard for years that we're changing to a service economy. What's
a service economy? That's where we have 1 class of people, Poor. We are loosing service jobs as well, just call Dell. When
we kill enough manufacturing jobs it could be Game over we loose.
Corporate Tax Cut WindfallThis article
shows how damaging the U.S. corporate income tax is to American firms. Over the past 2 decades the U.S. has gone from
a below-the-average corporate tax nation to the second highest rate in the industrial world. Many countries have slashed
their corporate rates to as low as 10%. The economic impact is even worse because the U.S. is one of the few countries that
taxes foreign subsidiary income when it is repatriated. http://online.wsj.com/article/SB121486763043717547.html
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