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Corporations Post Record Profits As Republicans Call For Eliminating The ‘Insidious’ Corporate Income Tax

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  • Business buys itself a new government
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  • Last week (Nov 14-20), Rep. Louie Gohmert (R-TX) – a man ThinkProgress readers are familiar with – took to the House floor to bemoan the “insidious” tax on corporations. “We can compete with anybody,” Gohmert declared, “if you take off that insidious tax” on business. Watch it.
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Think Progress

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Submitted by Evergreene Digest Contributing Editor Thomas Sklarski

Gohmert’s defense of corporations are not the words of a single rogue congressman. Rather, sticking up for the big guy is an orthodoxy that pervades the Republican Party and the conservative movement. Newly-elected Gov. Scott Walker (R) of Wisconsin has pledged to repeal the state’s corporate income tax. Sen.-elect Marco Rubio (R-FL) wants to slash the federal corporate income tax. And Rep. Paul Ryan (R-WI) proposes completely eliminating the tax in his radical Roadmap for America.

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Conservatives’ attempts to portray corporations as victims in this economy is dubious for two reasons. First, despite right-wing misinformation, American corporations actually already pay far less in taxes than those in other industrialized nations:

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More...

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Related:

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Corporate Profits Were the Highest on Record Last Quarter, Catherine Rampell, New York Times | NY
American companies had their best quarter ever, according to a report that also showed the nation’s output growing faster than initial estimates.

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Business buys itself a new government, Nick Coleman, Minneapolis Star Tribune | MN

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  • Corporate donors, newly emboldened by a court ruling, played dirty and won.
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  • So that's what a $4 billion campaign looks like!
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  • Wall Street's Stranglehold on Our Democracy Must Be Broken
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