The Obama Whitehouse

The current corporate tax rate in the US is 35%, the 3rd highest in the world which translates into an annual tax revenue of $304 billion. This is crippling U.S. businesses and forcing them to do business overseas or to Mexico. I want to reduce that tax rate to 15% which translates into $130 billion in annual corporate tax revenue. That puts $173 billion back into the corporations. Now, not all corporations will reinvest in themselves, but I have good reason to believe that at least 97% will. That is $173 billion dollars of instant corporate stimulus to invest in technology, machinery, brick and mortar and JOBS. According to Moodys; a permanent reduction in corporate income tax rates would provide a stimulative benefit to the economy of 30 cents for every dollar of tax reduction, or $52.1 billion dollars, and much more after taking into consideration that people will spend it. Therefore, the NET cost to the government or loss of tax revenue would be $121.6 billion dollars. Which would be made up due to the potential creation of up to 3.5 million jobs averaging $50,000.00 per year in wages. Each new job has an annual tax benefit to the government of $15,000 in payroll and income taxes, which means every million new jobs puts $15 billion annually into government coffers. As you can see the potential jobs created or saved equal the $778 billion Obama/Democrat "Spending" bill for a fraction of the cost.  You can see a copy of Steve Rathje’s Stimulus proposal by clicking here   Steve Rathje’s Stimulus Plan