No argument here.
Companies do not need corporate welfare as tax breaks, subsidies and bailouts are just the
Gary Johnson's solution for creating much needed jobs and getting our economy back on track is simple and it allows business to do what it does best in the free market; make money and create jobs. And the former NM Governor would know; he turned a one-man handyman business into a multi-million dollar corporation that employed over 1000 people.
The Daily Caller
As a matter of basic common sense, taxing corporate income has always been a fundamentally flawed concept. Corporations are things — not people. They don’t pay anything. The people who do the paying are shareholders, employees, vendors and others whose incomes are reduced because government is taking a cut right off the top of a corporation’s profits.
Eliminate the government’s cut, and those dollars will flow to shareholders in the form of increased income, to employees in the form of higher wages, and to investments that will actually put more people to work. All of those incomes will be taxed, but in a more logical and broader way — and the government will come out just fine in terms of revenues.
Some estimates place the number of jobs that could be created by eliminating the corporate income tax as high as 2 million. Even if the number is less than that, virtually no one disputes the fact that it would create a substantial number of real, private-sector jobs. In his State of the Union speech, even the president acknowledged that reducing the corporate tax would create jobs.
Eliminating this double tax has always been a good idea. Today, it has taken on greater urgency. First, we clearly need to let the economy breathe and create jobs. Second, our current corporate tax has become a major competitive disadvantage in the global marketplace. Nations from Canada to several of our European competitors have seen the wisdom of reducing corporate taxes, leaving us to steadily move down the list of investment-friendly places for job-creating businesses. We simply cannot afford to let that competitive slide continue.
Related: Via Memeorandum, "Welfare state, hand-outs make up one-third of U.S. wages."