Tax rates have no effect
on business survivability
Simply amazing … George Gretes’ June 4th letter to the editor (Companies That Don’t Pay Taxes Without Impacting Tax Rate Hike) states that two Virginia senators and one MP, all Democrats, said the Change in corporate tax rates will affect companies that do not pay taxes. Is this an example of when when you don’t have a good argument, you make up something others have said, whether or not they actually said it, and then build an argument around the made up statements?
Neither of these Democrats elected said that increasing the corporate tax rate would increase the liability of companies that are currently not paying. The issue of Corporations Not Paying, which has been hit more by Republican lawmakers than Democrats over the years, is a separate issue that deserves our attention, but let’s be honest about the real pros and cons of increasing corporate tax rates. ..
Also, Gretes says raising corporate taxes will hurt smaller businesses. There is no evidence to support this claim. Businesses have done very well top-down over the past 40 years, and interest rates have had no negative impact on their profits that would jeopardize their viability. Yes, businesses come and go, not because of tax rates, but because of poor management, changing markets and competition.