On average our corporate tax rates are close to 15% higher than other competing countries and in a global economy it puts us at a huge disadvantage as our products and services costs much more unless our corporations make adjustments. To remain fairly competitive our companies have to reduce costs which mean lower wages and fewer employees among other things.
The problem is millions of people don’t know this including many citizens of North Carolina so Kay Hagan constantly demonizes Tillis for helping corporations. She tries to make it look like he’s just taking care of the rich when he’s trying to help increase wages and jobs. Think about it, the increase in both wages and jobs means more tax revenues at both the state and federal levels but the money would come from mostly exports (because we’d become more competitive globally), which means the money will be coming from the other side of the globe…we’re talking incremental taxes while increasing the standard of living for our citizens. Either Democrats/Liberals don’t get this or they do and don’t care since they can use it to get votes. You decide. In my opinion they’re lying, something we couldn’t get away with in our jobs because we’d be fired.
Not only is our federal corporate tax rates higher than competitive nations North Carolina piles on with an additional 5% corporate tax rate. Tillis wants to make our state more attractive to outside corporations by getting rid of it. Can you guess which state has been consistently out-performing all others in bringing in new business? It’s Texas a state without corporate taxes and a state which is booming in every economic measure.
I’m sure you know Congressman Charles Rangel from New York, one of the most liberal people in Congress. Did you know he’s pushing for a 5% lower federal corporate income tax rate? There’s no doubt that if someone like him is pushing for it our corporate taxes will come down in the very near future so there’s significant light at the end of the tunnel. Not enough of a decrease but it's a start.
The hard part for me and I’m sure you as well is that I’m surrounded by people who think pretty much the way I do. I say this with the exception of Dr. Dean Hoffman who is part of our conservative email list as he is a minority at UNCC. From politics to religion I don’t have the opportunity to debate many liberals (I do have two that are hard core left). It’s usually like beating my head against the wall trying to get them to see the light. So I know I’m preaching to the choir in my articles but my hope is that it will both inspire you to be more aggressive in getting involved in politics and maybe provide you with simple verbiage (I didn’t attend Harvard J), to get various points across in your network.