Let’s join together to eliminate wasteful loopholes rather than jobs. In addition, let’s work to strengthen the enforcement of existing tax laws rather than weaken a tax code that empowers U.S. businesses of all sizes to grow. And let’s maintain our globally competitive rate to help reignite our economy, create new opportunities for our country’s workers, and keep investment right here in America at a time when all three of these pillars of prosperity are needed the most. […]
AMERICA CAN’T BUILD BACK BETTER WITH A HIGHER RATE THAN CHINA
We’re leading in the wrong Way
25.8%
21% Federal RATE + 4.8% Average State RATE
23.4%
Global Average RATE
RAISING TAXES WILL HURT AMERICA’S RECOVERY
The United States’ globally competitive corporate tax rate creates the best climate for our nation’s economy, job creators and workforce to succeed into the future.
REPORT: Corporate Tax Hike Eliminates 159K Jobs And Reduces Wages
February 24th, 2021
The Tax Foundation: “We estimate that this would reduce long-run economic output by 0.8 percent, eliminate 159,000 jobs, and reduce wages by 0.7 percent. Workers across the income scale would bear much of the tax increase. For example, the bottom 20 percent of earners would on average see a 1.45 percent drop in after-tax income in the long run.” […]
“I think it would be a bad idea.”
February 19th, 2021
CNBC Interviews the former Chairman & CEO of EY who says, “Could you imagine today if business had that higher tax rate and was trying to deal with all of these COVID-19 issues? I don’t think we’re going to be able, in this environment, to go back to the massive tax increases on business.” […]
“Corporate taxes are found to be most harmful for growth.”
– OECD
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