Who Is Hurt By US Corporate Tax Policy?
Unlike IBM and GE, small businesses do not have the luxury of hiring an army of lawyers to figure out how to avoid taxes.
The solution is lower but equal taxes across the board, not higher taxes as President Obama is clamoring for. If one insists on a skew, it would be far better from a jobs standpoint to defer taxes in the US than overseas.
My own personal preference would be to slash the corporate tax rate to 10% or lower, preferably zero.
This would level the playing field between small and large corporations. It would also eliminate the need for a whole army of lawyers and lobbyists whose only function is to game the system.
Finally, elimination of corporate taxes would spur job creation at small businesses, right here in the US, where we desperately need Jobs. To top it off, money would flow to the US, in dollars, instead of overseas in some other currency.
President Obama's solution is ass backwards.
Tuesday, April 13, 2010
Posted by macbeach at 5:36 PM