IowaPolitics.com
INANEWS.com
MANCHESTER, Iowa (Dec. 5, 2009) -
Dr, Alan Phillips, Republican from Illinois, addressed a group of Iowans, in Manchester, Iowa today and proposed an incentives economic program which focused on job restoration for Iowa and the nation.
According to several guests, this proposal seeks to lower state and federal taxes on corporations that return jobs to the U.S. from overseas, or create their numerical equivalents in new occupations for American workers. Currently, between Iowa's corporate tax rate and that of the federal government, businesses must pay 41.6 percent to government, highest of any state.
This excessive business taxation rate has given the U.S. a dubious distinction of being the world's leader in corporate taxes. High corporate taxes are a "jobs killer" that must be dealt with to improve the competitiveness of American business. Although various members of Congress have suggested a five or ten percent cut in federal taxes on companies, the speaker feels those reductions are too small to make a difference to companies planning to relocate.
Phillips proposes "to bring the jobs back for some 18 million jobless-underemployed workers, the U.S. combined corporate tax rate should be cut to 5 or 10 percent." In the final analysis there is needed a new partnership between state and federal lawmakers to work toward the goal of significantly reducing the overall tax burden on companies in the U.S.
About Proclaiming American Greatness, it is a group promoting American values, freedoms and constitutional liberties, nationwide.
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