“Research has shown that middle-income wage earners would benefit most from a large reduction in corporate tax rates.”
In reality, most leading corporations have more cash than they can use productively.
Apple alone could hire every unemployed engineer or programmer in the entire world for at least a decade.
In fact, Apple might financially be able to hire every engineer or programmer in the entire world for at least five years.
Minor point, if they hired engineers and programmers in America, that would mean bringing the money in from offshore, at which point the US government would tax the heck out of it, and they'd only be able to hire a fraction of America's engineers and programmers.
Nully's Modest Tax proposal:
1. Eliminate ALL corporate tax.
1a. Eliminate ALL depletion allowances and depreciation allowances.
2. Eliminate ALL current IRS regulations.
3. Set the individual tax rate at 10% regardless of income.
3a. Perquisites at taxed at 10% of cost.
3b. Withhold at the rate of 11%, to get a refund you have to file taxes, but there is no legal imperative to file.
4. Tax ALL money coming into the country at 0% (yes, ZERO%).
5. Tax ALL money leaving the country at 10%.