Steadfast Loyalty
    • Home
    • Opportunities
    • Home Wellness
    • Government Gone Wild
    • National Security
    • Social Issues
    • Veterans/Military
    Steadfast Loyalty
    Home»Politics»Does Cutting the Corporate Tax Really Stimulate the Economy?
    Politics

    Does Cutting the Corporate Tax Really Stimulate the Economy?

    By Daniel FlemingUpdated:December 22, 20172 Mins Read
    Facebook Twitter LinkedIn Email
    Share
    Facebook Twitter LinkedIn Email

    One of the many fake attacks by a panicked Democratic party on the new tax reform bill is that the corporate tax cut will do nothing to stimulate the economy. However, employees have already reaped huge benefits from the package as major corporations are rewarding them with raises and bonuses. Both Wells Fargo and Fifth Third Banks have increased their minimum wage to fifteen dollars an hour.

    Three other companies with about 450,000 employees have announced they are giving them each a bonus of $1,000. That’s a total of $450,000,000. But will it work over the long haul?

    Let’s ask Ireland. Until 1995, Ireland’s corporate tax was 40%. Between 1960 and 1995 (36 years) their GDP grew by a measly 7.2%. In 1995, they began lowering their corporate rate to 12.5%.

    Since Ireland decreased their corporate taxes to 12.5% in 2003, their economy has grown by a whopping 23%. Major corporations such as  Intel (INTC), Boston Scientific (BSX), Dell, Pfizer (PFE), Google (GOOG), Hewlett Packard (HPE), Facebook (FB) and Johnson and Johnson (JNJ) have moved their national headquarters there. Apple is building a data collection station there at a cost of nearly one billion dollars.

    From Seeking Alpha

    Big tech companies are already investing much of their time and money on funding new operations in Ireland. Apple (AAPL) announced in 2015 that it would begin building a data centre in Athenry, Galway in 2015 that would cost $979 million and create over 300 new jobs. This decision by Apple makes it the largest data collection hub in Europe. Ireland is now receiving billions of dollars, manufacturing hundreds of thousands of jobs, and increasingly becoming the tech hub of Europe. All these benefits are extraordinary and Ireland’s economy is improving at an astonishing rate because of this. 

    There is only one downside to Ireland’s low corporate taxes. The advantage they now command could go away if other countries lower their rates to match. True, but these companies that moved there will not move away just because another country matches their tax rate.

    They have already committed billions in the country so that even a lower rate of say 11% would not make companies relocate. But since America has such a large consumer base, with the lower corporate rate, this country could be inviting for numerous foreign manufacturing jobs.

    President Trump…making America great one day at a time.

    corporate tax rate Ireland Trump
    Share. Facebook Twitter Pinterest LinkedIn Email

    Related Posts

    New Poll Shows Young Democrats Not Liking Biden

    November 28, 2023

    Senate Dems Revive ‘Net Neutrality’: Urgent FCC Action

    September 27, 2023

    New Records Reveal Kamala Harris Met with Heir of George Soros

    September 3, 2023
    Top Posts

    New Report Reveals the Gold Bars Senator Menendez Stashed in Home

    December 4, 2023

    Schiff Warns Trump Would Never Leave Office if Reelected

    December 4, 2023

    Exclusive: Zelenskyy Addresses Senators on Stalled Military Aid

    December 4, 2023

    Biden Admin’s Overseas Climate Spending Exposed in Report

    December 4, 2023
    Our Picks

    Biden Admin’s Overseas Climate Spending Exposed in Report

    December 4, 2023

    Jayapal Scorched by Dems for Playing Down Hamas Violence

    December 4, 2023

    “Blind Side” Michael Oher Accused of Shaking Down Adoptive Parents

    December 4, 2023
    Most Popular

    Trump Responds to Liz Cheney’s Stopped Eating Statement

    December 4, 2023

    Elite Colleges Drastically Reduces ‘Donor Door’ Price Amid Antisemitism Backlash

    December 4, 2023

    US Navy Addresses China’s Accusation of Unlawful Intrusion

    December 4, 2023
    • Contact
    • Privacy Policy
    • Terms and Conditions
    • Disclaimer
    • Corrections Policy
    Steadfast Loyalty © 2023. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.