GOP: Repeal Corporate Income Tax
Rep. Louie Gohmert (R-TX) took to the House floor to bemoan the “insidious” tax on corporations, which posted record profits last quarter of 1.66 trillion. “We can compete with anybody,” Gohmert declared, “if you take off that insidious tax” on business.
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.
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.