Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By U.S. Federal Government (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Washington Examiner: "Democrats' straw man fights tax cuts"

% of readers think this story is Fact. Add your two cents.


“Tax reform, by closing loopholes, will reduce distortions, so productive activities are prioritized over unproductive ones designed merely to win tax credits. Reform will also remove incentives for companies to move offshore and keep overseas profits abroad.”

Democrats’ straw man fights tax cuts

Editorial

Washington Examiner

December 4, 2017

But the lesson here is not that corporate tax cuts don’t and won’t create jobs. Companies that spend an inordinate time scheming to avoid tax, and less time growing an efficient business, do so because the tax code encourages them to behave that way. They are slower to invest in making money the productive way because real business activity is riskier than the squeezing of every last penny out of a corporate tax return.

This is how a dysfunctional tax system such as the one we now have strangles a national economy, and it is why lower tax rates are needed without delay.

The main point of lowering tax rates and getting rid of loopholes is to encourage corporations to spend more time, effort, and investment on productive activity, and less time on devising new methods of minimizing tax exposure. Less productivity is detrimental to the economy.

Because the U.S. has nearly the highest corporate tax rate in the industrialized world, American companies spend a significant, even outlandish, number of man-hours and money figuring out how to avoid paying it. They exploit loopholes, forgo opportunities, and worst of all, avoid bringing their profits home for reinvestment.

Tax reform, by closing loopholes, will reduce distortions, so productive activities are prioritized over unproductive ones designed merely to win tax credits. Reform will also remove incentives for companies to move offshore and keep overseas profits abroad.

Many companies would love to invest overseas after-tax profits in their American operations, but this would require them to surrender an enormous share of the money to the U.S. Treasury.

By removing incentives for irrational behavior, tax reform can dramatically increase the amount of corporate investment within America. It’s not just that corporations get some extra money to pass along. Rather, they’ll be freed up to operate in a whole new and far more efficient way that will inevitably result in new opportunities to grow and greater success against foreign competitors.

Read the full editorial here.



Source: https://www.whitehouse.gov/the-press-office/2017/12/04/washington-examiner-democrats-straw-man-fights-tax-cuts


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.