Tax Bill Hysteria
“Our current corporate tax system is outdated, unfair and inefficient. It provides tax breaks for moving jobs and profits overseas and hits companies that choose to stay in America with one of the highest tax rates in the world. It is unnecessarily complicated and forces America’s small businesses to spend countless hours and dollars filing their taxes. It’s not right and it needs to change.”
That was Barack Obama in 2012, with a proposal to cut rates to 28 percent. Other prominent Democrats who have previously called for cutting corporate taxes include Tim Geithner, Ms. Pelosi, and Chuck Schumer.
.. Many developed countries, including Germany, Sweden and Britain, have all slashed their corporate rates in recent years. Lo, the sky did not fall.