Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Obama "Jobs Commission" Endorses Corporate Income Tax Rate Cut
ATR ^ | 2012-01-17 | Ryan Ellis

Posted on 01/17/2012 1:08:17 PM PST by 92nina

President Obama's "Jobs Council" today released their annual report. In the tax section, much attention is given to the need to cut the corporate income tax rate.

Reading most of the report, it sounds like something that might be written by ATR or another free market organization. It points out how the U.S. has the highest corporate income tax rate in the developed world, a full 14 percentage points higher than the OECD average of 25 percent. It also points out how big U.S. trade partners like Japan, Canada, and the United Kingdom are continuing to cut their corporate rate while the U.S. falls behind by standing still.

The report mentions flow-through companies like partnerships and S-corporations, and says that business tax reform must take these into account. Another sound point.

In a shocking development, the report also endorses "territoriality," where the U.S. would stop seeking to tax income earned overseas. A lower corporate and flow-through rate combined with territoriality is strong, pro-growth medicine. Where is the leadership from President Obama on this?

That being said, there are a few quibbles with the report:

All in all, not bad for a tax document coming out of the Obama Administration. The question is, will the political appointees at the White House listen to what these business experts are telling the President?

Read more: http://www.atr.org/obama-jobs-commission-endorses-corporate-income-a6688#ixzz1jkct6CE2


TOPICS: Business/Economy; Government; Politics; Reference
KEYWORDS: bho44; economy; obama; taxes
President Obama's own "Jobs Council" today endorsed a cut in the corporate income tax rate. Why isn't the President backing his own commission's findings?

Take this article and others I found to the fight to the Libs on their own turf; put the Left on the defensive at Digg and at Reddit and in Stumbleupon and Delicious

1 posted on 01/17/2012 1:08:25 PM PST by 92nina
[ Post Reply | Private Reply | View Replies]

To: 92nina
Whoa, they also endorsed “drill baby drill” which means they're report will quickly be swept under the rug, just like the report from Obama’s deficit panel was when it didn't toe the party line.
2 posted on 01/17/2012 1:32:13 PM PST by apillar
[ Post Reply | Private Reply | To 1 | View Replies]

To: 92nina

Obama has said the Capital Gains Tax is a Matter Of Fairness the Rich must pay thats that


3 posted on 01/17/2012 2:42:47 PM PST by ballplayer
[ Post Reply | Private Reply | To 1 | View Replies]

To: 92nina

Obama has said the Capital Gains Tax is a Matter Of Fairness the Rich must pay thats that


4 posted on 01/17/2012 2:42:59 PM PST by ballplayer
[ Post Reply | Private Reply | To 1 | View Replies]

To: 92nina

There should be no corporate income tax. It all comes out of our pockets in the end. Corporate income taxes only make us think we’re not being taxed as much as we are. After all, it’s IBM, or Ford, or Coca-Cola that’s being taxed, not us, right? Pay no mind to the fact that they just turn around and pass it on to us in the form of higher prices.

I think all Republicans should support the elimination of corporate income taxes. It could be the start of a “Truth in Taxation” movement that could take us all sorts of good places.


5 posted on 01/17/2012 2:44:54 PM PST by StonyMan451 (As for me and my household, we will serve the Lord.)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson