tag:blogger.com,1999:blog-8105510368341493530.post8923231737533769560..comments2024-02-14T10:31:57.699-08:00Comments on Cotton Eyed Jo takes a look at life: An Open Letter to Ted Poe, Texas RepresentativeCotton Eyed Johttp://www.blogger.com/profile/17115269196856596429noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8105510368341493530.post-80994682955170272922011-12-19T07:47:41.904-08:002011-12-19T07:47:41.904-08:00Quote~ "At a combined government rate of 40%,...Quote~ "At a combined government rate of 40%, the U.S. has the second highest corporate income tax rate in the world. This means that businesses are more likely to move to other countries where they will not be taxed as much as they are here. The result is we lose our jobs and become less competitive in the world market. We have to stop this trend and restore America to the business-friendly climate it once was. The U.S. corporate tax rate should be set at or below the Organization for Economic Cooperation and Development (OECD) average of 26% to eliminate the incentive to move businesses and jobs overseas."<br /><br />Congressman Poe has made a good point here...overtaxing those who create jobs will only result in fewer jobs being created. If it is too costly here (via excessive taxation) then American businesses will out of necessity relocate to countries where doing business can still be profitable.<br /><br />I'm in agreement with those who feel that a fair tax with no loopholes is the only way to simplify our tax codes and to assure that all Americans pay their fair share.<br /><br />Ask GE's CEO (and friend of Pres. Obama) how many taxes his company paid in the past several years. NONE.(Oh, and please ask him why he is moving parts of HIS business facilities overseas.)<br /><br />Corporations are not our enemies...bad legislation is.The Wool Cupboardhttps://www.blogger.com/profile/13771668556706791825noreply@blogger.com