April 1, 2012
Today is April Fools day – but this isn’t a joke: Corporate tax’s in America is not the highest in the world. In fact US corporate taxes is much lower than most developed nations. Don’t believe that? Have a look.
Yeah, yeah, yeah! We’re all aware that it’s that tax rate so many of you are hanging your argument on. And an incomplete report this past week by CNN has brought the issue back to front burner and gives fodder to that argument (we’ll hear a lot more of it since this is tax month.). But you’ve got to think of it in this way.
How many infomercials have you seen where the pitch man (or woman) is telling you that all those gadgets they’re showing you has a retail value of $140, but they’re going to sell all of it to you for just $19.99 (plus shipping and handling)? Well, that’s a perfect analogy for this tax statutory rate vs. the effective rate. The so-called “retail” price is one thing but the actual price you pay is something entirely different.
We told you last month – backed up with documented facts – that corporations paid an effective rate of 12.1 percent, which was a 40-year low. And we pointed out that “Mr.” Neocon himself, Bill Kristol, said the corporate tax rate is not killing big business. Even the top dog at the best money-making corporate machine in America is telling us that the claim that corporate taxes are too high is a myth; but so many just aren’t listening.
This country has got to have some of the most ignorant and uninformed people on the planet. No doubt the vast majority choose to be ignorant and uninformed. But that right-wing propaganda about corporate taxes being too high has been proven wrong hundreds of time; so you’d think people would eventually wise up. Those who refuse to accept that are simply saying ‘I’m willing to pay extra taxes in lieu of corporations paying their fair share just to be against someone I don’t like’. Real Smart!!!
Never underestimate the difficulty of changing false beliefs [with] facts.
Economist Henry Rosovsky