Comments on: Repeal the Corporate Income Tax and Bring Those Jobs Back Home

By: Increase Corporate Tax Rates, Says Obama Chief Economic Advisor

Increase Corporate Tax Rates, Says Obama Chief Economic Advisor — Wed, 02 Dec 2009 09:48:15 +0000

[...] Repeal the Corporate Income Tax and Bring Those Jobs Back Home [...]

By: Peter

Peter — Sun, 08 Feb 2009 23:26:07 +0000

Sam,

Corporations create jobs overseas instead of the U.S. because the after tax cost of labor is less there.

And poor people want to get richer too.

The difference is that rich people who want to get richer actually create jobs. And I think they should be rewarded for it.

We should give more money to those who have proven their ability to create jobs than to those who have no track record of job creation.

“The only thing you can be sure of is that rich people only want to get richer.”

Well of course they do. But the desire to be richer is not immoral, it’s simply human.

My guess is that you, too, would like to be richer.

Blaming others for your plight is a defense mechanism that relieves you of responsibility. If the odds are stacked against you from the outset, why try?

Shakespeare said it best:

“The fault is not in our stars . . . but in ourselves that we are underlings.”

By: Sam

Sam — Thu, 05 Feb 2009 20:54:09 +0000

Well the first misconception you have is that the jobs are created by the corporations. They are actually created by demand and the corporations answer the demand by creating products which it takes jobs to accomplish. Now I’m sure you would agree with the above so that would also suggest that a corporation would not create a 100K/yr job just because they have to pay 100K less in taxes. This just doesn’t make any sense. That money would go to some CEO or executive as profits would increase and therefore top salaries would increase. Now some companies might allow some of those profits to “trickle down” but how long would that last? We can see from recent history that it would be no time before they get us into another financial mess. The only thing you can be sure of is that rich people only want to get richer. That is the problem.

By: WHAT’S THE BUZZ? TELL ME WHAT’S A HAPPENNIN’ – : The Tax Forum

WHAT’S THE BUZZ? TELL ME WHAT’S A HAPPENNIN’ – : The Tax Forum — Thu, 29 Jan 2009 07:01:05 +0000

[...] Peter Pappas of THE TAX LAWYER’S BLOG suggests that we “Repeal the Corporate Income Tax and Bring Those Jobs Back Home”. Be sure to read my [...]

By: Week ending . . . | taxguy

Week ending . . . | taxguy — Sun, 25 Jan 2009 16:41:52 +0000

[...] Peter over at The Tax Lawyer’s Blog has a real look at on a few things in his post Repeal the Corporate Income Tax and Bring Those Jobs Back Home. [...]

By: Peter

Peter — Mon, 19 Jan 2009 20:49:01 +0000

Robert,

I’d settle for your proposal. It would probably more palatable to electorate then an elimination of corporate tax.

By: Robert D Flach

Robert D Flach — Mon, 19 Jan 2009 13:00:02 +0000

I am not sure if I agree with a “O” corporate tax rate. However I do support a “dividends paid” tax deduction for corporations.

If a corporation wanted to reduce or eliminate its tax liability all it would have to do is issue dividends. Corporate net profit = $2,000,000 and dividends paid to shareholders = $2,000,000 then corporate taxable income = 0 and corporate tax liability = 0.

This would first and foremost do away with the double taxation of corporate dividends. It would also mean that corporations would not have to resort to “creative accounting” a la Enron and offshore subsidiaries to avoid federal income taxes.

TWTP