It's a nice sentiment, unfortunately it's completely without merit. Manufacturing hasn't left the country because of the corporate tax rates, although those haven't been helpful. Manufacturing has left the country because they can't make money here. Taxes are levied on profits, not revenues. If there are no profits, there are no taxes. If you can't turn a profit, the tax rates are wholly irrelevant.
To see manufacturing return to the US in any substantive way, the federal and state governments will have to address the underlying fundamental reasons that manufacturing left in the first place - Regulatory burden, to especially include environmental regulation, the labor burden associated with the strong union presence in most of our Rustbelt states, and the high costs of health care and energy. Without addressing those concerns, our corporate tax rates are meaningless to our manufacturing base.
There is NOTHING that can get us back to full unemployment in 9-12 months, short of the hand of God. We have lost FAR TOO MANY jobs in the last two years for us to recover them in 12 months, no matter what economic policies we adopt. And, this doesn't even address the larger malaise that has settled over the global economy. Like it or not, we do operate in a global economy, so irrespective of our own economic policies, we won't see a full recovery until we see a broader global recovery.
Nice try, but you fall woefully short in your assumption that they only taxes business' pay are on profits. Taxes in business are indeed levied on profits. They are also levied on the business based on each employee you have (SS and Medicare matching, and now Obamacare) each piece of equipment you use in your business (tangible property), you phone access (telephone tax), your energy use (electricity tax), not to mention all the hidden taxes, regulatory costs, massive liability insurance premiums and the list goes on and on.
Lowering corporate taxes would help produce a climate here that encourages business instead of a climate that is hostile to business. Many businesses today, like the engineering firm I founded and ran for over 20 years, compete with other similar businesses world wide. Having a lower corporate tax is but one spoke in the wheel of rebuilding a business friendly environment in the USA.
Many, if not most banks simply aren't lending now, especially to small business and start ups. Many investors, particularly venture capital types who seek out this type of investment are sitting on money right now, a lot of money. Many businesses are also hoarding money right now. There have been a half dozen stories on this phenomenon in the business rags over the past week alone. The reason they're hording money is because they don't know what Obama is going to do next and, as such, they can't plan for the future, not even just a few months out. A bunker mentality is building when we should be sending signals to business to come to the USA and prosper. If you want to free up this money lower or better yet eliminate the Capital Gains tax. By doing so people and companies would invest in small businesses (where historically the vast majority of jobs are created) millions of jobs will be created, additional tax revenue would flood into the gubmint coffers and we would be on a path to a modest recovery. Cut gubmint spending and focus on paying off the debt as rapidly as possible and we just might avoid the crash that's coming in a couple of years. Does it solve all the problems? Of course not, but it makes one hell of a lot more sense than raising the Capital Gains tax to 20%, raising marginal income tax rates across the board, continuing to allow the AMT to expand, continuing with a corporate tax rates that are the second highest in the industrialized world, and all the other things that are happening now, thanks to gubmint at local, state and Federal levels, that are directly in opposition to a recovering economy......