Why is it that corporations have been able to pay 22% of the revenue for the majority of the 20th century, and now when they pay only 7%, it’s now a problem?
And why is it that the corporations that DO pay the tax only pay a 15% effective rate after deductions, which is one of the lowest in the industrialized world?
If China has a higher effective corporate tax than we do, what makes you think getting rid of the Corporate Tax will bring back jobs?
I did not know that. I will check into it.
However, let’s think about that. What could corporations do with that tax money…. I suspect, they could build more factories and hire more people, because they have extra money to expand and invest. Then with the more people working, then more Income Tax could flow into the treasury.