"The Three Biggest Lies About Why Corporate Taxes Should Be Lowered"

[applegrove]

The Three Biggest Lies About Why Corporate Taxes Should Be Lowered

By Robert Reich at Truthdig

http://www.truthdig.com/report/item/the_three_biggest_lies_about_why_corporate_taxes_should_be_lowered_20130805/

"SNIP...........................


Instead of spending August on the beach, corporate lobbyists are readying arguments for when Congress returns in September about why corporate taxes should be lowered.

But they’re lies. You need to know why so you can spread the truth.

Lie #1: U.S. corporate tax rates are higher than the tax rates of other big economies. Wrong. After deductions and tax credits, the average corporate tax rate in the U.S. is lower. According to the Congressional Research Service, the United States has an effective corporate tax rate of 27.1%, compared to an average of 27.7% in the other large economies of the world.

Lie #2: U.S. corporations need lower taxes in order to make investments in new jobs. Wrong again. Corporations are sitting on almost $2 trillion of cash they don’t know what to do with. The 1000 largest U.S. corporations alone are hoarding almost $1 trillion.
......................

Lie #3: U.S. corporations need a tax break in order to be globally competitive. Baloney. The “competitiveness” of American corporations is becoming a meaningless term because most big U.S. corporations are no longer American companies at all. The biggest have been creating way more jobs abroad than in the U.S.

...........................SNIP"

[applegrove]

1. That wall of ceos saying we need lower corporate taxes are gaslighting, hoping the wall

itself will convince people what's up is down, left is right, white is black.

[msongs]

2. coporations actually pay any taxes? who knew? nt