Posted on 09/14/2011 2:00:43 PM PDT by TXnMA
Kimberly Willingham (202) 225-3035
Jonna Fitzgerald (903) 561-6349
Washington - Rep. Louie Gohmert (TX-01) released the following statement today after introducing the “American Jobs Act of 2011” which will create jobs by taking the corporate tax rate to zero.
“We have heard a lot of rhetoric about job creation from President Obama over the last several days. After waiting to see what the President would actually put into legislative language, and then waiting to see if anybody would actually introduce the President’s bill in the House, today I took the initiative and introduced the 'American Jobs Act of 2011.' It is a very simple bill, which will eliminate the corporate tax which serves as a tariff that our American companies pay on goods they produce here in America.
This bill will actually create jobs in America. Right now, American manufacturing jobs are shipped overseas. What is really insidious about this tax is that corporate taxes are paid by the consumer – built in to the cost of the good or service. Corporate taxes are paid for by people in the form of lower wages to American workers and less money paid out in dividends in everything from 401K retirement accounts and to those who would risk their capital in business ventures. This type of capital investment is where jobs come from.
Unlike President Obama’s bill, which clocks in at 155 pages, the 'American Jobs Act' is only two pages. The American people want to see jobs and economic growth and this bill guarantees that outcome. America would instantly become a safe haven for businesses resulting in an explosion in revenue increases. If we really want to create jobs and grow the economy, we must pass ‘The American Jobs Act’ now.”
To view a copy of the bill, click here.
Congressman Louie Gohmert is the Vice Chair of the Judiciary Subcommittee on Crime, Terrorism and Homeland Security. Prior to being elected to serve in Congress, Louie was elected to three terms as District Judge in Smith County, Texas. He also served as Chief Justice of Texas'12th Court of Appeals.
Thanks. :)
Attaboy!
This is just the Greatest move! Obambi piddling around doing squat and gets the legs kicked out. Ha Ha!
More on Gohmert’s Bill.
The obscene Corportate Tax Rates are not absorbed by the fat cats. No sir.
They are passed on to slobs like you and me. The average costs equate to over $3500 per taxpayer per annum.
Mine too -- and me too!
Mine too -- and me too!
True ... True ... True .... Prices could and should deflate.
Thank him via snail mail to one of his district offices...mine is in the mail tomorrow. Go, LOUIE!
EAT YOUR PEAS!! Green peas.. Greenpeace. Save the whales, save those snails!
For one frightening moment, I thought he'd introduced the Obummer's bill! BWHAHAHAHAHA! This is great! Thank you, Texas, for sending gutsy reps.
You should pass this bill right away.
Full text for the pdf and link impaired:
A BILL
To amend the Internal Revenue Code of 1986 to repeal
the corporate income tax.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled
SECTION 1.
SHORT TITLE.
This Act may be cited as the ‘’American Jobs Act of 2011’’.
SEC. 2. REPEAL OF CORPORATE INCOME TAX.
(a) IN GENERAL.
Subsection (b) of section 11 of the Internal Revenue Code of 1986 is amended to read as follows:
‘’(b) AMOUNT OF TAX.
The amount of the tax imposed by subsection (a) shall be zero percent of taxable income.’’
(b) REPEAL OF ALTERNATIVE MINIMUM TAX FOR CORPORATIONS.
Sub-paragraph (B) of section 55(b)(1) of such Code is amended to read as follows:
‘’(B) CORPORATIONS.
In the case of a corporation, the tentative minimum tax for the taxable year is zero.’’
(c) CONFORMING AMENDMENTS.
(1) Paragraphs (1) and (2) of section 1445(e)of such Code are each amended by striking ‘’35 percent’’ and inserting ‘’0 percent’’.
(2) Sub-paragraph (A) of section 7518(g)(6) of such Code is amended by striking ‘’34 percent’’ and inserting ‘’0 percent’’.
(3) Paragraph (2) of section 53511(f) of title 46, United States Code, is amended by striking ‘’34 percent’’ and inserting ‘’0 percent’’.
(d) EFFECTIVE DATE.
The amendments made by this section shall apply to taxable years beginning after December 31, 2011, except that the amendments made by subsection (c) shall take effect on such date.
I don't believe that is so. See House Rules, Chapter 6, §4 Link
I was laughing at what Rep Gohmert did. Was smart and funny at the same time.
I was laughing at what Rep Gohmert did. Was smart and funny at the same time.
Much obliged!
If you love me...
I support this American Jobs Act of 2011! :D
Thats it... I am reporting this Congressman and his bill on the Attack Watch website. How dare a member of Congress actually introduce legislation that will take the boot of government off the throats of the private sector.
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