Tax rates have no effect
on corporate survivability
Just amazing... George Gretes' June 4 Letter to the Editor (Companies that pay no tax not hurt by rate increase) states that two Virginia Senators and one Representative, all Democrats, said that changing corporate tax rates will effect corporations that pay no taxes. Is this an example that if you don't have a good argument then make up something that some else said, regardless of whether or not they actually said that, and then build an argument around the made-up statements?
None of these elected Democrats said that raising the corporate tax rate would increase the liability on corporations that currently pay nothing. The issue of corporations that pay nothing, which is more on Republican legislators over the years than Democrats, is a separate issue that needs our attention but lets be honest about the real pros and cons of increasing the corporate tax rates...
Also, Gretes states that increasing the corporate rates will hurt smaller corporations. There is no evidence that supports this assertion. Corporations have done very well from top to bottom over the past 40 years and the rates have not had any negative effects on their bottom lines that would jeopardize their survivability. Yes, corporations come and go but not because of tax rates but because of poor management, changing markets and competition.