Have you read this week’s Business Week? On page 20, the Mandel on Economics article is about slashing Corporate taxes from 35% to 25%. That’s a pretty big slash and it would mean that Corporations would pay a smaller percent than the highest taxed individual. On top of that, Corporations all ready only account for 10% of the Federal Government’s revenue. Slashing their taxes would only bring that figure down AND it wouldn’t guarantee that they would create jobs here at home.
In an article just a couple of pages along, Catherine Arnst writes that some CEOs are behind the “new, federally funded insurer” plan “that would expand coverage by competing with private health insurers.” For once, I agree with the Republicans that this is a bad idea, but not for the same reasons.
I realize that we have to get the healthcare costs in hand and that premiums have risen faster than anything else, but if we let our corporations pay less in taxes and not have to be responsible for the people they hire, we’re not helping anyone. We’re moving more costs to the government and less on the backs of the companies who helped incur them.
Why can’t we throw out the tax code all together and create a new one that gives companies incentives to create American jobs and cover benefits by paying lower taxes? Why should we just lower the taxes across the board and give them government benefits that allow them to put out even less for their employees? Won’t this just tax the American worker that much more?