@okie,
Okie-Here is an interesting study concerning tax cuts. The most important section of this study indicates that President Obama's push to increase taxes on Corporations will result in less tax revenue.
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FACT CHECK ARCHIVE
January 16, 2008
Q: Have tax cuts always resulted in higher tax revenues and more economic growth as many tax cut proponents claim?
A: No. In fact, economists say tax cuts do not spark enough growth to pay for themselves.
This economic theory is what George H.W. Bush called “voodoo economics.” We called it “supply-side spin” when we wrote about Republican presidential contender John McCain’s claim that President George W. Bush’s tax cuts had increased federal revenues. We found that a slew of government economists " from the Congressional Budget Office, the Treasury Department, the Joint Committee on Taxation and the White House’s Council of Economic Advisers " all disagreed with that theory, saying that tax cuts may spur economic growth but they lead to revenues that are lower than they would have been if the cuts hadn’t been enacted.
The supply-side theory that tax-cut proponents often espouse was demonstrated by the Laffer curve, named for economist Arthur B. Laffer. The curve suggests that a higher tax rate can generate just as much revenue as a lower rate. But most economists are not Laffer-curve purists. Instead, while they may believe in the power of tax cuts to create an economic boost, they don't say that growth is enough to completely make up for lost revenue. For example, N. Gregory Mankiw, former chair of the current President Bush’s Council of Economic Advisers, calculated that the growth spurred by capital gains tax cuts pays for about half of lost revenue over a number of years and that payroll tax cuts generate enough growth to pay for about 17 percent of what is lost.
CORPORATE TAX RATES MAY, HOWEVER, BE AN EXCEPTION. There is some evidence that cutting the corporate tax rate can produce more revenue than was projected under the higher rate in the special case of multinational corporations, which can move their money and operations around to take advantage of lower taxes in certain countries. Economists with the pro-business American Enterprise Institute came to that conclusion in a study released in July 2007. They found that lower corporate rates attract enough growth in corporate income to produce higher government revenues.
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The article also backs up ICAN's assertion that higher government revenues can be produced through lower corporate rates. You see, Okie, when Liberal Fascists like Cyclopitchorn want to FORCE multinational Corporations to do all of their business in the US, most rational people know that in today's globalization( as is indicated in the article above--"multinational corporations can MOVE THEIR MONEY AROUND TO TAKE ADVANTAGE OF LOWER TAXES IN CERTAIN COUNTRIES"...
Parados and Cicerone Imposter( both of whom almost never give evidence or documentation,) obviously are unaware of this.
