At 35%, our statutory corporate tax rate might LOOK high (relative to some other countries), but the many deductions, credits and other special breaks mean that the EFFECTIVE TAX RATE (taxes that corporations ACTUALLY pay) is far much lower - - - an estimated 13.4 percent lower on profits than the average for other major industrialized countries over the 2000-2005 period. The "effective rate" is far much lower than they've been for decades.
And the Republicans know this, but yet they keep insisting on telling us that higher taxes are smothering job growth, even though corporations and the wealthy just had the Bush tax cuts extended two more years to provide them with "certainty" in the marketplace. Poor people, working people, the elderly and the sick get no "certainty" in this economy or in their lives. Social Security and Medicare used to be "certain", but Republicans want to gut those programs as well.
Low taxes for the top 1% and large multi-national corporations were supposed to create jobs, but yet we're STILL losing jobs. Rather than proposing a workable jobs bill, the Republicans want us to focus on the national debt, annual spending and more tax breaks for the rich - - - rather than create more good jobs. With 40 million Americans that are either under-employed (working two part-time low-paying jobs) or unemployed (who can't even get a low-paying job), the U.S. Treasury is being deprived of vital tax revenues to run the government and to provided for the sick, the poor, and the elderly. They are being tossed to the curb like used beer cans to give the wealthy and multi-national corporations MORE tax breaks, even though they have already been earning record profits and salaries.
The wealthy and large multi-national corporations no longer NEED an American middle-class anymore to remain profitable. The wealthy and large multi-national corporations no longer NEED to create jobs paying a decent, fair, and "living wage". Why would they pay you $20 an hour to do the gardening at their mansion when they can pay an illegal immigrant half as much to do the same work. And they can't threaten YOU with deportation. The wealthy and multi-national corporations like to have ALL control over the humans that serve their needs...whether it be on their factory floors, or as their personal gardener, chauffeur, cook, valet, or maid.
No matter what happens in "the debt talks", you can bet your ass that average Americans (most who earn under one million dollars a year) will lose the battle, and the powerfully rich and corporate America will win again. For the last 40 years they have won. The complaints over oil subsidies have gone on for decades, but will never end.
Now taxpayers have to hope that after busting their asses all their life, that when they sick and/or old, they won't be exterminated. They will be, but passively, by eliminating Social Security and Medicare. It's morally easier for them (the Republicans) to deny benefits and withhold funding for those programs, than it is to putting a gun to their heads and pulling the trigger themselves.
Holding the full faith and credit of the United States HOSTAGE for permanent tax breaks for the rich and permanent cuts to programs that working people rely on is totally despicable. If someone earned less than a million dollars a year, why would they ever vote for a Republican?