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Originally Posted by Cool Beans
Until enough of the corporations got tired of it, and many moved offshore. If we make it too expensive to conduct business here in the US, big money will almost always find a cheaper place to conduct it.
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But there are a lot of other factors that influence companies moving operations offshore. Manufacturing has looked towards labor often less than 10% of here in the USA, and also tried to move to Asia to shorten their supply chains. Many advanced jobs have moved offshrore to take advantage of a growing talent pool, or more recently, limitations in H1 Visas.
The point being, high corporate tax rates are not the showstopper here.
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Not saying reduce all taxes, mainly don't raise the taxes on business, especially small and medium sized ones. Leaving them alone, or reducing their taxes will allow them to prosper and thus hire more employees, pay more to their employees, and when the company is doing great because of individuals, give them a "bonus".
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This was the claim hammered home by McCain during the campaign, but the facts as I've seen them indicate the impact to small business under Obama's tax plan would be minimal.
That being said, I agree that small business is the foundation of our economy and shouldn't be taxed excessively.
-spence