Washington Examiner: "You should want to cut business taxes; after all, it's you who has to pay them"
“Real individual people — that's you, your friends, and your neighbors — pay every dime of the corporate income tax.”
You should want to cut business taxes; after all, it’s you who has to pay them
November 17, 2017
The wailing and gnashing of teeth over the tax reform bill passed by the House on Thursday was too much. Even the average congressional debate, with its party-line grandstanding, is bad enough. But it’s so much more tedious when Democrats line up to echo each other ad nauseam, making the same tired talking points against a permanent cut in the corporate tax rate, which they supported when their guy was in the White House.
But you know what’s not corporate welfare? A low, uniform corporate tax rate, which is precisely what Congress is trying to implement. A tax reform plan that lowers the rate is neither corporate welfare nor a massive giveaway to the wealthy. Rather, it is a fair and even-handed way of reducing economic distortions, making American businesses more competitive worldwide, and encouraging them to reinvest overseas profits in jobs and growth back home.
[President Barack Obama] called a lower corporate rate “something that serious people in both parties should be able to support.” When it’s not a Democrat proposing the policy, Democrats perform an acrobatic flip-flop and suddenly find the policy unconscionable.
Real individual people — that’s you, your friends, and your neighbors — pay every dime of the corporate income tax.
In 2015, Senate Minority Leader Chuck Schumer understood this. He said, “Our international tax system ... creates incentives to send jobs and stash profits overseas, rather than creating jobs and economic growth here in the United States.”
Instead of substantive and vigorous debate, the public is being served this sort of bad-faith debate in huge dollops from the Democrats. It reinforces Americans’ view that those in elected office serve their own ambitions and not the common good.