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4 Bumps

Should Obama cut the corporate tax rate to spur hiring?

The U.S. has the highest corporate tax rate and this keeps businesses away from the U.S. and entices others to leave. The ones who are here are not hiring because of the economic conditions and that these rates keep profits low. Do you think he should cut the corporate rates?

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 10:13 AM on Jan. 1, 2011 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (21)
  • Hunny the only thing Democrats know how to do in regards of this is make promises.. They dont' know how to actually do reality.. Hence OBAMA..
    2boys4momma

    Answer by 2boys4momma at 10:16 AM on Jan. 1, 2011

  • No, if the taxes are not coming in from big business they are going to be coming in from the general public and I don't want to pay anymore than I have to. It's not like the capital hill fat cats are going to take a pay decrease.
    scout_mom

    Answer by scout_mom at 10:17 AM on Jan. 1, 2011

  • Scout_mom, please do some research on when we have had record setting revenue.

    Yes, he should cut them.
    Carpy

    Answer by Carpy at 11:29 AM on Jan. 1, 2011

  • YES, YES...A THOUSAND TIMES....YES!!!! And dismantle the IRS and institute a Flat Tax for E-V-E-R-Y-O-N-E!!!

    LoriKeet

    Answer by LoriKeet at 11:55 AM on Jan. 1, 2011

  • dismantle the IRS and institute a Flat Tax for E-V-E-R-Y-O-N-E!!! Yes

    NO to corporate welfare!


    Sisteract

    Answer by Sisteract at 11:56 AM on Jan. 1, 2011


  • NO to corporate welfare!

    But yes to welfare in general?
    Carpy

    Answer by Carpy at 12:15 PM on Jan. 1, 2011

  • No, I don't believe the corps would hire if they had more money. They are taking the companies overseas because labor is cheaper. If having extra money worked than why are they not hiring now? http://www.bea.gov/newsreleases/national/gdp/2010/pdf/gdp3q10_2nd.pdf


    heres a snippet


    Domestic profits of financial corporations increased $33.3 billion in the third quarter, in contrast
    to a decrease of $3.4 billion in the second. Domestic profits of nonfinancial corporations increased
    $18.6 billion in the third quarter, compared with an increase of $48.2 billion in the second. In the third
    quarter, real gross value added of nonfinancial corporations decreased, and profits per unit of real value
    added increased.

    stacymomof2

    Answer by stacymomof2 at 12:18 PM on Jan. 1, 2011

  • So, record increases in profits, yet still no jobs. Yet people are still arguing that giving corps MORE money will suddenly turn into jobs? It won't. Never has. Corps take jobs overseas because they can pay people less. I believe that corps should get taxed higher if they do that.
    stacymomof2

    Answer by stacymomof2 at 12:21 PM on Jan. 1, 2011

  • I don't think it should just be corporate taxes, but other business taxes as well. I spend a fortune every year on business related taxes...I get hit by the feds AND the state. I have actually cut some wages starting today because of the increases in my workers comp and unemployment insurances......both of them doubled.........and with NO claims made by me. I can't afford the increases, not with everything else going up too.
    yourspecialkid

    Answer by yourspecialkid at 12:57 PM on Jan. 1, 2011

  • dismantle the IRS and institute a Flat Tax for E-V-E-R-Y-O-N-E!!! Yes

    NO to corporate welfare!

    ***

    Yet you have bragged in the past that your husband has provided for you and your family quite nicely as the #2 guy in a Forbes 100 company?! As a member of "the club" I don't think it's fair for you to "vote against" those of us trying to get into the same club!! :o)
    LoriKeet

    Answer by LoriKeet at 12:59 PM on Jan. 1, 2011

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