Regarding Bob Luddy’s March 6 Point of View “To create more, lower corporate tax rate”: Luddy continued to beat the drum for lower corporate tax rates. He stated the United States’ corporate rate is 35 percent, knowing full well that this is the maximum rate, which few, if any, corporations actually pay.
He stated that GE employs 1,000 tax lawyers, neglecting to mention that GE pays little or no corporate taxes. He believes corporate taxes are too high without stating what would be an appropriate amount, apparently preferring there be no corporate taxes on profit after operating expenses, R&D, equipment purchases, etc., thereby providing himself with more money in his personal pocket.
If “corporations are people, my friend,” then they should be willing to share the expense of efficient government appropriately with the common people. Not a shred of data is provided to prove the concept that lower corporate tax rates “improve investment” or decrease unemployment (a form of trickle-down).
Yes, our entire tax structure needs a complete overhaul. It would be interesting to know what corporate tax rate CaptiveAire actually pays and what tax incentives and other corporate welfare it receives.