The U.S. corporate income
tax is too high, in relation to what is being imposed by other
countries, many who unabashedly claim to be socialist or who have
otherwise managed economies. They definitely don’t profess to have
capitalist underpinnings. I include Communist China in this
category.
They all realize the
importance of relatively low corporate tax rates.
Yet, one major party
in America has a social mantra of “soaking the rich” and the
corporation is targeted as rich, though the taxes paid are really a
cost of doing business and must be priced into what’s sold.
There is no logic in
keeping U.S. corporate taxation as high as it is, when you want to
keep American business competitive in global markets and at home.
And
while we’re at it, let American corporate already-taxed earnings
overseas come back home, tax free, The funds can be used here. (See
the Earl J Weinreb NewsHole® comments and @BusinessNewshole tweets.)
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