There are some who think that America’s federal tax rate is so onerous it has to be lowered or corporations will simply not invest here. The fact that you can do business cheaper in Third World countries because their standard of living sucks as much as their pay is never mentioned as a possible reason. No, it’s our darn excessive tax rate.
Given that last year GE realized a profit of $15 billion worldwide, $5 billion of which was generated in America, and paid zero in federal taxes, that argument is starting to sound a bit weak. By my calculation,
