There was a story on 60 minutes about the Corporate tax code being too high this past Sunday, March 27. 60 minutes neglected one tiny little thing that would neutralize that whole bullshit story. Yes corporate taxes are the highest in the U.S. of the entire industrial world but the fact of the matter is that there are so many tax loopholes that they end up paying no more taxes than any other corporate entity on the planet. ( A Senator Bennett from Colorado said that this morning on NPR and it wasn't to refute the 60 minutes story but just a statement of fact).
The only reason why corporations move jobs overseas to certain areas (not large swaths of Europe, BTW) is not because of taxes , but is because they can get cheap labor and circumvent union/labor laws and rules since there aren't any. Until all the unions are sufficiently destroyed in the U.S., corporations won't be coming back here for manufacturing purposes. So the plan is that so long as public employees still have unions (Over 50% of the entire work force are covered by public worker unions whereas in the private sector it's only 8% that are covered by any union) they still serve as an example of how good unions have made life for workers.
So what's the plan? The final phase here is to destroy the public unions, turn people against them and they'll be no more unions at all, no examples to be looked at and thus corporations will be back to get that good no rule, cheap, minimum wage worker once again under their collective thumbs. Back to the future, baby. And the great economic middle class is no more. . .
Yet why if corporations would pay no more taxes overseas than they would here why would they demand that the tax rate should be lower once all the unions are destroyed? Well once back here they would still have to pay all those consultants, lobbyists, lawyers etc who seek out all those tax loopholes. Lower the rate and they can get rid of them too . . .
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