What The Economy Does Not Need

@gewcew23 (8011)
United States
September 5, 2008 12:48pm CST
America's economy is slipping, but the last thing it need is a push down the slide. Corporation in America currently pay the second highest taxes in the world, only behind Japan according to the Organisation for Economic Co-operation and Development. It does not much imagination to realize that companies are leaving the US not because of cheap labor but because of cheap taxes. You cannot blame everything on cheap labor because for something like building a car, or smelting steel you do not want just anyone doing it. Comparing some of the tax rate around the world and you can see why America does not need to raise its tax rate. USA's corporate tax rate is 39% Mexico's corporate tax rate is 21% Canada's corporate tax rate is 32% South Korea's corporate tax rate is 17% Ireland's corporate tax rate is 14% Obama's economic plan is to raise taxes on corporations still here in America, which will push more companies out of America. McCain's economic plan is to cut taxes on corporations still here in America, which will keep companies here, and also bring new companies to America.
2 people like this
2 responses
@rodney850 (2145)
• United States
5 Sep 08
Gewcew, You are right, America is the largest "robin hood" country in the world! We try to take everything we can from the rich and prosperous, hard working businesses and then turn around and give to the non-productive non-workers! Granted, some of them deserve and righteously need the help but there is far more fraud than necessity! I don't see how our government can keep taxing these people at a higher and higher rate and in the same breath complain about them moving to other countries or cutting jobs, rediculous! Now the left has visions of "punishing" the dirty, filthy, exhorbant rich people even more! I'm sure they will be the most surprised people in the nation when our industrial and economic systems collapse under BHO(heaven forbid)!
1 person likes this
@rodney850 (2145)
• United States
5 Sep 08
Just 10 more to 500! Imight actually make it someday!
1 person likes this
@gewcew23 (8011)
• United States
5 Sep 08
God willing you will Rodney reach your 500th response. The American government is the modern day Robin Hood, and with Obama not only will he take money take from those who earned it and give it to those that did not earn it here in America but also around the world.
@Taskr36 (13925)
• United States
5 Sep 08
"I don't see how our government can keep taxing these people at a higher and higher rate and in the same breath complain about them moving to other countries or cutting jobs, rediculous!" The funny part of this is that Clinton was the one who gave them NAFTA, so they could comfortably move operations to Canada or Mexico if they get tired of being overtaxed for achieving the American Dream. Now somehow the democrats feel it's the republicans fault.
1 person likes this
• United States
5 Sep 08
You are completely correct. Corporations collect taxes from their customers and then give the money to the government. We don't need the increased taxes anymore than the corportations.
1 person likes this
@gewcew23 (8011)
• United States
5 Sep 08
Corporate tax is an invisible tax that is placed on the back of the consumer. Corporations do not pay taxes, consumer and shareholders pay them.