Thursday, October 13, 2011

I Call Bullshit

The Heritage Foundation claims that
a reduction in the corporate income tax rate to 25 percent shows impressive growth for the U.S. economy.[3] For example:
  • The number of jobs in the U.S. would grow on average by 581,000 annually from 2011 to 2020, with 531,000 on average being created in the private sector each year;
  • U.S. real gross domestic product would rise on average by $132 billion per year;
  • A typical family of four’s after-tax income would rise on average by $2,484 per year;
  • U.S. capital stock would grow by an average of $240 billion more per year; and
  • Gross private domestic investment would increase by $57.2 billion per year.[4]
Reducing the corporate rate would make investing in the U.S.—by both domestic and international firms—more attractive. The lower rate provides an incentive for foreign corporations to make investments in the U.S.
According to a
report by the Congressional Research Service, using different methodology, found that the U.S. had an effective corporate tax rate of 27.1 percent in 2008. Other industrialized countries had an average 27.7 percent effective rate, using a weighted approach that adjusted for the size of the economy, and a 23.3 percent rate with an unweighted approach.
A 2.1 percent decrease is going to lead to a 132 billion per year increase in GDP forever and 1/2 a million jobs per year for 9 years straight? Seriously? Corporations are so greedy that because of a loss of 2.1% of their after tax income they deny themselves and the world 9x5ook new jobs and customers per year plus 132millionXinfinity dollars.

Why it's almost like they think people are too stupid to walk and chew gum. We are not all, after all, the current or former Governor of Texas.

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