As Congress debates new corporate tax legislation, ProCon.org, the leading resource for the pros and cons of controversial issues, has updated its nonpartisan information on how corporate tax rates affect the unemployment rate and the economy.
The research is available at
https://corporatetax.procon.org/
“Students, educators, policymakers and the general public use our information not only to help them decide how they should think about important issues, but also to gain insight into why others may disagree with them,” said CEO Kamy Akhavan. “In this time of hyper-partisanship, we offer an agenda-free, ad-free, nonpartisan approach to this issue and many more as a free online resource,” he explained.
The ProCon.org website on corporate taxation’s relation to job growth provides sourced pro and con arguments, historical information, videos, photos, charts, and graphs. In its exploration of the main question, “Does lowering the federal corporate income tax rate create jobs?,” the website includes pro and con quotes from prominent sources including Orrin Hatch (pro), Warren Buffet (con), National Foreign Trade Council (pro), and Mark Cuban (con).
The “Did You Know?” section includes fun facts about corporate taxation, such as:
- Of the 500 large cap companies (a market capitalization value of more than $10 billion) in the Standard & Poor (S&P) stock index, 115 paid a federal corporate tax rate of less than 20% from 2006-2011, and 39 of those companies paid a rate of less than 10%.
- At 35%, the United States had the highest federal corporate income tax rate of any OECD country in 2012, and at 29.2% it had the OECD’s fourth highest effective corporate tax rate in 2011, behind Germany, Italy, and Japan.
- The federal government has collected a corporate income tax since 1909, when the rate was 1% for all business income above $5,000.
For more information on this issue, please visit
https://corporatetax.procon.org/
(via Does Lowering the Federal Corporate Income Tax Rate Create Jobs? - ProCon.org)
Source: procon.org
